Seven Secrets Of Millionaires HTML version
Do You Sincerely Want to be Rich?
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Do You Sincerely
Want to be Rich?
By â€˜richâ€™ I mean in excess of ten million pounds.
These days you are not rich if you have one million. Although not
pocket-change, a million in the bank would merely allow you to live
in moderate comfort for the rest of your days. You would have to be
careful with money. You could not be extravagant. One million in
disposable capital would give you around Â£50,000 a year in salary
after tax, which is a lot less than a good company director gets. If you
took this salary, the million would slowly be eaten away by inflation
until it was worth just Â£350,000 (todayâ€™s buying power) in about
fifteen years. Hardly a kingâ€™s ransom, I think youâ€™ll agree.
One million pounds buys you a decent house in the South of
England, that's all. After you've bought the house, all the money has
gone and there would not be a penny left to furnish it, pay the bills or
for living expenses. No, the days are long gone when becoming a
millionaire was a crazy dream. Being a millionaire is not what it used
to be. A millionaire in 1900 would have the equivalent of one
hundred million pounds in today's money!
Ten million though....ah, now weâ€™re talking sensible money. Ten
million today is worth the same as one million used to be worth in the
1950's. A millionaire really was someone before 1950.
With ten million in the bank you can spend about Â£250,000 a year
(Â£20,000 a month) and still have modest growth on your capital, but
you would be in the bottom echelons of the wealthy, knocking for