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What to Do With Your Spare Time Once You Reach Millionaire Status?
Once the day finally rolls around where you realize you can now claim the right to be referred to as a “millionaire”, it can be surreal. For most people, this dream never becomes a reality or even remotely attainable. There are a growing number of people out there who have put in the time and energy needed to achieve this once rare and coveted title. They have also saved and invested suavely enough to see it happen while they are young enough to enjoy it. This is a fast growing population even during these tough economic times. They made their money smartly and typically by doing something they loved. Now that they are set money wise, they can find themselves wondering what to do now.
In stark contrast to the old money club which still holds power and influence throughout the world, the new millionaire literally holds steadfastly onto his or her middle class roots and values. You may picture a new millionaire sailing off in a 50 foot yacht toward the island sunset the day after he sees the bank statement confirming his initiation into the millionaires club. However, this is turning out to be a misleading and incomplete stereotypical visual. Most millionaires don’t just sit back and count their money as the years roll by, they need something to do.
While almost anyone who reaches millionaire status does so through hard work and intellect, they also have statistically done being happy. They have not spent their years slaving away in a suit and tie day after day hating the office. If you are a new millionaire, chances are you have been doing a job you love to show up for. Most new millionaires have a zest for their career choice and excel at it by loving it. This naturally means for most new millionaires they are not really looking to throw in the towel once they reach a certain dollar mark. They truly want to stay involved in the line of work which made them millionaires. They just may take the time to enjoy the perks more than they would have while working their way up. Look at the worlds billionaires for example. Even the richest of the rich still go to work each day in one way or another, staying involved in the day to day activities of their companies. Therefore, staying involved in the industry that made you rich will typically keep you rich and busy.
Regardless of how much the new millionaire stays involved in the work that made them rich, they do have to come to terms with the freedom and leisure time this new found financial freedom brings. For some, this can be the first time in their work life where they can literally do what they want. Their families may also be able to enjoy this way of life for the first time. Some of these leisure activities are exactly what you would expect of the millionaire sect. For some, enjoying service at high end restaurants and boutiques can be liberating and eye opening. Going to exclusive theater events and art shows will let you mingle with others in your financial bracket. Luxury resorts are catering to the new millionaire. They can be found in virtually every corner of the country. At these resorts, the wealthy can enjoy extensive spa services for men and women. Specialty services like experimental mud baths and hot stone treatments are just a few of the extra ways millionaires can indulge themselves at these exclusive resorts.
Travel has always been a treasured leisure activity of millionaires. New millionaires are no exception. The desire to see countries and exotic lands you could never afford to travel to before will always be a tempting way to spend money.
New millionaires still like to spend their money on objects just as much as luxury experiences. Such objects are also investments. The new millionaire will undoubtedly want to buy a summer home or second property on the opposite coast. The new millionaire will always want to buy the car of their dreams also. Spending new money on fail safe items like jewelry is also still a favorite indulgence.
Even when you reach new millionaire status and have more free time, there are still responsibilities one must pay attention to. In these hard economic times, it is not unusual to find millionaires spending their time giving back in one way or another. Despite status, using your spare time to volunteer and make a positive difference in your community is perhaps the most beneficial way to spend your new leisure time.
Regardless of how you make your millions and how much you stay involved with the job that made you rich, you are sure to want to indulge a little. Spend your leisure time doing all of the things you felt you could never do before, or would’ve felt guilty about doing. Remember, part of wanting to reach millionaire status was the desire to enjoy life in your own way.