One of the first songs I had on my iPod nano was “If I had a Million Dollars” by the Bare Naked Ladies.
Or at least this was a song I had on repeat a lot because I loved it so much.
No doubt I’ve always wanted to have a lot of money. It might be why I clung to that song so much.
But now that I’m older, wiser, and have a clearer path in mind it still begs the question: what would I do with one million dollars?
What would you do?
In the song, the band rhymed off all sorts of things that they would get. Like a green dress, but not a real one, because that’s cruel.
But I believe it tells more about a person based on what they buy. In particular what they view as luxury items.
It Says A Lot About Their Mindset
I’ve been poking my nose into a book called The Millionaire Next Door and have been picking up many things about what the typical millionaire is like.
I know enough from the book that people have warped perceptions of how millionaires actually live.
This sort of mentality would actually filter into how they would spend that kind of money if they had it. I believe it’s the main reason why you see so many lotto winners go bankrupt in a matter of months to a year.
Not only that but I believe it’s a reason why people believe having an expensive car and a big house is so important. I don’t believe that’s the case since the average person these days is in debt because of that.
I believe a status symbol isn’t worth it if you have to go into debt and spend years paying it back.
What A Millionaire “Looks Like”
But despite what I believe, a lot of people believe that that is the Millionaire life style. I do agree some of them live in large houses and drive flashy cars.
But not all.
According to The Millionaire Next Door, 14% of American Millionaires inherited their wealth. That 14% are people that actually spend it quite lavishly. That 14% you’ll see in game shows and reality TV.
My point is, being exposed to that, the sensationalized millionaire lifestyle, has warped our minds. A lot of people go out and spend lavishly because that’s what they learned from TV and from the mass media.
What A Millionaire Actually Looks Like
But in reality, a lot of millionaires are vastly different. I point back to the book The Millionaire Next Door as a reference.
Again 14% of all millionaires actually inherited their money (at least in America). While the other remaining portion are actually self made millionaires.
We don’t know their kind of lifestyles before they reached the millionaire status. But they are drastically different to what we see on TV and in the media.
In fact they’re such typical people that they wouldn’t have a TV show revolving around them. Not to mention that they think drastically different than the 14% inherited millionaires.
A lot of them live the life that I once heard at a conference for a network marketing company I was part of. This lifestyle was presented like this:
Earning like a millionaire, but living like a middle class person.
This sort of lifestyle is something that I personally want to be striving for.
One Million Dollars?!?!
My point in all of this is the lifestyle that is played up on TV is not necessarily the reality for every person that has that sort of lifestyle. And it’s vital that we don’t stroke every person with the same brush just because we saw it on TV.
But our warped expectations can be changed. Again it’s a mindset and our mindsets are malleable of course. So keep asking yourself that question, perhaps even jot the answer down and each time you do it jot it down again.
What would you do with one million dollars?
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