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Who Doesn’t Want to Be a Millionaire? The Dangers of Owning a Fortune

Who among us can honestly put up their hand and say that they have never dreamed of having a million dollar fortune? Probably no one, I would think. Not me anyway.

We all like to day dream now and then about having a huge amount of money but what about the dangers of having so much cash? Maybe these are enough to make you reconsider whether or not it would be a good idea to be a millionaire.

Would the Little Things Lose Their Value?

I don’t know about you but I treasure the little things in life. Going for a family picnic or settling down in a comfy chair with a good book are among the biggest joys in life. However, I wonder whether I would stop valuing these things so much if I became filthy rich. Would I be so caught up in a world of bling, fancy cars and exotic trips to remember to value the little things which make life worthwhile? I have to confess that I have some doubts about the matter. It is easy to sit here and say that all that money wouldn’t change me but it would definitely be tough to avoid this happening.

Would People Start to Send You Begging Letters?

I would love to win a huge amount on a lottery but could I keep my identity secret? It would be fun at first to walk around knowing that everyone is aware that you are the big money winner they have been reading about. After a while though, the begging letters might start to arrive. At first it might actually be rewarding to help out some other people with a little cash but what if it carries on like this for a long time? It must be depressing to realize after a while that even a big fortune isn’t going to be enough for you to sort out all the problems in the world. It must be horrible to get letters through telling about how miserable other families are and how they desperately need money. Of course, you would need a massive fortune in order to make even a tiny dent in the world’s problems. Finding this out could be one of the toughest things about being a millionaire.

Would You Worry Whether Others Were Only After Your Money?

One of the great things about not being a millionaire is that you can be sure that no one is only your friend because you are rich. Most people who are seriously wealthy must have doubts at some point as to whether they are just seen as a walking wallet rather than a person. Sure, the people you have known for a long time will still see you for who you are but others might only see your fortune when they look at you. Put it this way; could you seriously have been friends with Rockefeller or Carnegie? You might have liked them as people but even then you would probably have doubted whether their massive wealth was turning your head. The worst thing is that there is no way of finding out whether you are popular because of the cash. Unless you lose it all, that is.

Summary

So, are these dangers enough to put you off the idea of being a millionaire? They probably should be but I have to confess that I would still like to try the lifestyle for a few months. Ideally, I would say that I would give the money away after that time if it wasn’t making me happy. However, that takes us onto a completely new dilemma, doesn’t it?

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13 Responses to Who Doesn’t Want to Be a Millionaire? The Dangers of Owning a Fortune

  1. I’m not sure if I would want to win the lottery for this very reason! I would not want to have people coming at me from all directions asking for money. I think it might be easier if it was wealth that you earned instead of lottery winnings; with the lottery the exact amount that you won is usually very well publicized, but it’s often harder for others to know exactly what you earn. Anyway, I think I’d like to have this problem if it was money that I’d earned :-)

  2. Those are interesting points you out up there, but just like you I would really like to live like a rich man first before making conclusions.

  3. Kathy says:

    All my life my mother has said “I never aspired to be rich.” I think it was a defense mechanism because we were not rich. My response was always “boy I do!” But interestingly, over the years, she has saved and developed a real estate portfolio that has in fact made her a millionaire. However, she doesn’t see it and I think she actually feels that somehow being wealthy makes her less worthy of going to heaven. She’s always felt that there is more honor in poverty than in wealth regardless of how the person in each circumstance live their life.

  4. The thing about millionaires….they usually got that way by being very wise with their money so I don’t think being a millionaire would cause a difference in how money is viewed. It’s people that are suddenly wealthy (such as lottery, inheritance, or a situation like a professional athlete coming out of college) that may foster an environment where their view on money changes!

  5. Mo-money-mo-problems.

    I would probably keep my identity totally quiet and splurge very quietly. My family can be very greedy so I’d probably pretend like I made money through investments or something!

  6. Having money can definitely be an issue. There’s some show, I think on TLC, called “How the Lottery Ruined My Life” or something along those lines. It’s crazy because the people literally have their lives destroyed after winning the lottery. But, I think it would be different if you grew your wealth over time, because then you might have a better understanding of how to deal with the issues that might arise.

    • Robert Bell says:

      I am always amazed by how so many people run into problems after winning millions. It’s one of the reasons I avoid lotteries.

  7. May says:

    These fears may help explain this finding: The National Endowment for Financial Education points to research that estimates 70 per cent of people who unexpectedly come into large sums of money will lose it within seven years.

    Read more: http://www.ctvnews.ca/business/why-most-lottery-winners-end-up-losing-their-new-fortune-1.1211569#ixzz2p7GTYbIh

    • Robert Bell says:

      Great find May. I imagined that a lot of people in that situation would run into trouble but that figure is really high.

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