Live Like a Millionaire - Without the Million

How to live like a millionaireCredit: javrsmith

With the economy on the ropes, most people dream of what it would be like to have a million dollars. If you consider the costs of things today, maybe a million dollars isn't enough money. Cars, boats, houses, vacations, etc, all cost big money. Maybe you need more like two million dollars. Maybe that wouldn't be enough if you have debts and taxes to consider. The truth is that there isn't enough money to finally satisfy the number of ways you could spend it. What you need to do is think about what to do with money, not how to get money. In short, you have to learn how to live like a millionaire. You don't need a million dollars to do this.

What exactly is it like to live like a millionaire? That is the first thing to investigate. If you think about society today, there are a lot of millionaires that you know of. Lots of celebrities, sports personalities, financial agents are millionaires. What do they live like? First off, they will have a nice house. Maybe not a mansion, but it will be nice. The main thing to note, (and copy), is that they usually aren't busy building a big house. Get the house, move in and start living. That's what they tend to do. You can do this too. When you are looking for a house, look for the best one that you can afford that doesn't need a lot of work. If you can't get what you want, then make do where you are.

Millionaires have nice cars. You really should be careful, though, if you want to live like a millionaire by having a nice car. A lot of millionaires have businesses that are able to obtain cars using various tax friendly avenues. These are usually not available to regular people. You might not even want to get into the costs or lease details that millionaires have to do. Instead, look at what the millionaires' cars do. They work and look good. Get yourself the best car you can that works and looks good. It will then perform just like a millionaire's car. If you want to splurge, the next time you are in Las Vegas, rent a Ferrari or Corvette for the day. See what it's like. Then consider if it is worth the price of a house. Your late model Lexus or Buick gets you around in some style and is likely more reliable than the millionaire's car anyway.

Most millionaires are really busy. They usually didn't get a million dollars by waiting around for it. They worked hard. Likely they are still working hard. If you see a lazy millionaire, he likely has more than a million dollars that he inherited. Take note, but try to live like a busy millionaire. Get involved. Work hard. Make connections. Keep going in high gear. This can take a lot out of you, but it's how the millionaires live. When you are ready to relax, you can relax in style because you have earned it, just like a millionaire. Now, you might want to think if living like a millionaire is truly great. Because they are so busy and so connected, a lot of millionaires don't have very good married lives. Divorce is common. There is nothing like divorce to turn a millionaire into a thousandaire, and fast. Maybe it's best not to live like a millionaire when it comes to the frenetic pace that sometimes develops.

If you live like a millionaire, you have to be ready for personal boom and bust cycles. People like Donald Trump are way on top, they crash hard and have to get back on top again. Good for Donald when it works out, but imagine the emotional roller coaster ride that it can be. One thing millionaires do is spread out their risk. If they are working major deals, they make the business shoulder the risk. If they can't get loan terms without personally signing for them, then they don't take the deal. Millionaires keep the money risk away from their personal balance sheet. Usually if they don't, they don't stay millionaires for long. Remember the day trader phenomenon from the early 2000's? A lot of regular people started investing like millionaires with a small amount of money. They kept working their account balances and built up sizable amounts of money. A lot of they acquired more than a million dollars. When the market started going down, they kept the same day trading behavior. By not keeping financial risk isolated to the business accounts only, a lot of these people lost all of their money. You don't want to live like those millionaires now.

When millionaires travel, they usually don't worry about much. They have their business affairs in order and operating with little intervention. A competent staff helps to keep things running when a millionaire is on vacation. You might not have this luxury. You can do what you can, though, to fix things as much as possible before you go. Get a house sitter if needed. Reduce or eliminate the daily chores at home before you go. Pick a destination spot that offers as much quality relaxation as you can find. This doesn't have to be as expensive as a millionaire's choice to be as useful. There are fabulous art museums in Seattle and Toledo that give you the same wonder as you get from a trip to the Louvre in Paris. The canals of San Antonio are as memorable as those in Venice. Skiing at Whistler is a good, (or better), than in Switzerland. All of these choices give you a trip that rivals those taken by millionaires but at a substantial savings. The Concord no longer operates so the millionaires have to contend with really long vacation flights to London and Paris now.

Fishing is another activity that you can enjoy like the rich do. Why not consider a fabulous trip to the Skeena River in British Columbia? You'll certainly feel incredibly wealthy should you happen to land a 50 pound Chinook salmon using a top quality fly rod from RST Fishing. You'll even look rich too but at a price for less than you would expect for the best fly rod available on the market today.

So, do your best trying to live like a millionaire. Check out the best things that they do and set yourself up along those lines. You don't have to spend the same amount of money, though. It's not enough to live like a millionaire, you have to live like a smart one.