Updated: Friday 25th April 2014
Research into the true cost of living a “millionaire lifestyle” has discovered that the average person would need around £5.8 million to finance the millionaire life of their dreams.
The research, which was conducted by the Centre for Economics and Business Research for the national lottery organisers in the UK, reveals that there are actually five “classes” of millionaires and that the lifestyles of each are quite different.
The five classes identified are as follows:
You will need £1.7 million to join this “entry level” class of millionaire. Blue millionaires have mortgage-free homes, a couple of nice cars in the garage and maybe even a holiday home abroad. They could even quite work, but they would need to be modest with their spending if they want their wealth to last lifetime.
This class requires wealth of around £5.8 million and will enable you to enjoy an impressive detached home, a luxury home overseas and a top of the range car or two. Celebrities named in this class are Will Young and Joss Stone.
You’ll need £13.8 million to join this class, but when you do get that amount together you can look forward to living in a mansion, having your own chauffeur and maids, travelling globally and owning a fleet of cars so that you have one for every day of the week. Top sportsmen such as Lewis Hamilton often enjoy this kind of lifestyle.
Joining this class requires £58.6 million, and will put you among household name actors and actresses. When you get here you can enjoy your own estate, homes in London and New York (or Los Angeles, if you prefer), a wardrobe full of designer clothes, plenty of jewellery and a whole lot more.
This is the highest class of millionaire, and to join it you will need £108.6 million or more. At this level you can buy pretty much whatever you want for the rest of your life, and you may even find yourself rubbing shoulders with classmates like the Beckhams.
Talking about the research findings, a National Lottery spokesperson said: “There are around 400,000 millionaires in the UK and most people have pre-conceived ideas about the millionaire lifestyle they probably lead. This report shows there are in fact many different levels at which you can enjoy a lifetime of luxury and the price tag that it comes with each varies enormously too.”
The good news for lottery players is that our favourite games can instantly put us into almost every millionaire class if we’re lucky enough to win. Given a suitable number of rollovers and the right numbers at the right time, the potential is there for us to live the life of our dreams where money is no object.Published: Wednesday 26th March 2008
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