Would a million pounds be enough?

Thinking about becoming a millionaire sounds great. You could buy yourself a big house, set yourself up financially and better your life. It sounds great but when thinking about it, would a million pounds be enough to satisfy the human need for more. For some a million pounds would certainly be enough, if you are someone who quite simply wants to put a bit of money away to save and sort out your finances. But for the rest of us it would be a nightmare at the end of the day.

Before- Just received a million pounds

Buying a big house worth £500,000. then buying a £40,000 car with no care for your finances whatsoever $6. Maybe you think that because you have bought an expensive house that you have a £500,000 asset. Which is true but the problem with buying houses is the property market goes up and down depending on the current market which can go great one minute then terrible the next. Although what financial experts say is that your safest investment for money is still property which I guess is due to the fact that no one can take that house from you as long as you stay out of debt. So far in the situation there was a total of £1,000,000 which you had minus expenses leaving you £460,000 which is still a lot of money. What you must bear in mind is that if lot of us had a million pounds even though we would all deny it, we would want to live the millionaire lifestyle. Well I can tell you now that if you did this without a serious income to replenish the money you are losing, you would be broke within a matter of months.

The expensive holidays costing £10,000-£20,000, the shopping sprees costing £5,000-£10,000, the restaurants averaging £1,000-£5,000 as well as all the other expenses would soon leave you flat broke. What happens is people will get swept away with the dream, losing sight of reality and the financial mess they are creating for themselves. Although you may believe that you are different and would take a little self control, I don't fully believe anyone who says this. With a million pounds comes the test of a lifetime, can you turn a million pounds into 10 million pounds or will you turn a million pounds into £0.000.000.

After- lost a million pounds

For most they will find themselves in debt owing the bank, friends and family because they couldn't quite keep up the lifestyle at the end of the day. If you ask me being a millionaire comes with certain responsibilities and if you ignore this then you are setting yourself up for a financial loss like never before. If you find yourself with £0 in your bank account and you earn an insufficient amount each month to pay for the big house and the expensive car then you will have to sell the house and the car to pay off any debts to the bank and friends/family. With whatever you have left you can buy back the house you previously had before the million pounds as well as the car, just looking at the whole thing as a living nightmare.

This is my theory for around 80% of people as being given a £1,000,000 is a responsibility that not many of us are prepared for. The other 20% includes the 10% who are currently millionaires/billionaires who would just look at it like another little yearly bonus. The last 10% are the financially careful who happen to be the ones ready for such a responsibility as the £1,000,000 brings.

There is no easy answer for this but the best ways which keep you a millionaire and build on the money you make to build you a successful life include;

• Starting a business- who knows, you might surprise yourself and maybe even help to make the world a better place.
• Invest money- this option means having money in the first place and a fair bit of it especially if you want a return in the amounts of a million pounds and upwards.
• Build a successful carrier- It's a long shot but using your talent and skills can start you on your way to a very successful carrier which can even make you millions of pounds.

Ways to receive a million pounds through risk taking include;

• Lottery- take a chance and you might just make yourself a millionaire overnight.
• Gambling- this will mean having a lot of money in the first place and this is a very big gamble if you are thinking about making yourself a millionaire.

Almost everyone dreams of becoming a millionaire and everyone has the chance to make themselves a millionaire but nobody wants to do it the hard way. I'm not talking about robbing a bank or taking lives but rather using your skills to make a business which through hard work and self motivation could make you a millionaire and more if you want it enough.

Whereas on the other hand people would sooner take risks on gambling a lot of hard earned money through online poker and other online gambling sites, which are just a scam to take your hard earned money and leave you wanting to spend more. Those who oppose gambling spend money on lottery tickets/scratch cards hoping that they win the jackpot which isn't the worst way to make yourself a millionaire. But even if you did win a million pounds on the lottery would you ever truly appreciate the money which you have. However those who earned the million pounds would appreciate the money, looking after every penny as they will understand the amount of sweat, blood and tears which comes when getting that amount of money the hard way.

A million pounds in the bank!

If you were given a million pounds, something which interested me is whether you would give any to friends/family. In the following poll, please answer honestly as I am interested to see just how generous you are.

For those who said they would give some of their million pounds to friends/family are quite clearly good and generous people. Unless of course you meant you would give them a hundred pounds each, in which case you are slightly cheap but on the plus side you are financially smart. Those who said they would not give any of the million pounds which they have received to family/friends are of course either mean with money, overwhelmed with debt/in deep with sharks or you have a horrible family and set of friends.

The worst part to receiving a million pounds is the attention you would suddenly receive from friends/family and I could only guess that you would be picking up the check a few times at restaurants. At some point you are going to start hating your family/friends because you know your a millionaire but for some reason they seem to think your a billionaire. This is fairly obvious as people change around money but if you want to be a financially smart individual and you win a million pounds. Remember money before people which sounds harsh but you have to be harsh to stay rich especially in a world where its so easy to make it and break it with money.

Money is power which is why the rich get richer because they always have some income or scheme which both tops up their money replacing that which they spend. To me a rich person isn't someone with a yearly income of £100,000 as that amount doesn't leave you free of financial worries. In my opinion you are not rich until you have at least a million pounds in your bank as well as an income which covers the amount you are spending as well as more to add to the stack of money which you currently have.

These were my thoughts on whether having a million pounds is enough and just how easy it is to go from millionaire to nothing.

Thank you for reading. Please comment, follow and check out some of my other hubs.