How many times have you sat down and considered what would you do if you won the Lottery, what would you buy, what would you do?
It’s something that many people do, fantasise about all of the things they’d buy. Could be new cars, houses, fishing lakes or equestrian centres. Each one of us would have a different approach to how we’d use the windfall. For me, it would never happen. Just don’t do any lottery or game of chance – that’s not me making a moral judgement, just saying that I don’t.
The fantasy is interesting. Simply putting your faith in a machine that churns balls in the hope that it may randomly throw up a selection that matches yours – not something I’d want to put hope in.
That said. If you were to win a couple of million or even half of that amount. What you would you do – it’s gotta be worth thinking about, surely. At least to give something to focus on for the coming days and weeks, something to talk about in the pub on a Friday lunchtime.
We all want things and all of these things take money, money we can’t always imagine having, but if we did – boy would it all be so good.
When I bring this subject up in workshops and seminars I’m always told that I’d need at least a couple of million, maybe even more in some instances. However the reality is things are no as expensive as we think nor are they that un-achievable.
A new Ferrari somewhere in the region of £200k, a lake in France – around £100k dependent on the area, certainly a lot less in some areas. A full blown Equestrian centre in the UK Midlands from about £2m but the comes with over a hundred acres and a really big house.
Thing is this – these things cost a lot less than you think and it’s possible to make your money grow quicker than you think. Of course if you planning to put money into things like pensions you’ll end up having to wait a lot longer and make your money work a lot harder if you are to eventually buy that lake.
If you take a modest amount of money (£2,000) invest that over a longer term and get a reasonable (5%) return on your investment, in twenty years time you’ll probably have enough invested to buy the lake. If you invested the same amount of money and topped it up by £200 per month you’d be close to the Ferrari.
If you put the same money into a small business, or invested it differently you’d end up with the Ferrari and or a lake a lot quicker. Some of you will end up with the equestrian centre. What I can guarantee is this, you’ll be a lot better off than when you started.
Money is not complicated once you know how.
Drop your email address into the box below for some more updates and my course, or pop over to follow me on Twitter @moneytrainers. You’ll be pleased you did – I am probably the only one telling the truth about money: making it, investing it and paying less tax on it.
]