A million pounds sound like a lot of money. Most of us will probably never accumulate that kind of cash, no matter how long or hard we work. But sometimes, it’s worth thinking about what we’d do if such a large amount of money came into our lives, not just for financial reasons, but philosophical ones too.
As a starting point, we should all recognise that we spend a lot of our lives around the pursuit of financial gain. We say no to spending time with family and friends in the week, not because we don’t like them, but because we need to go to work and earn our keep.
But what exactly is our keep? That’s another good question. It turns out that the average person only needs to work one day a week to provide all the resources they need to live in the modern world.
Yes – rent is high, and that isn’t realistic in some locations. But when you actually look at the cost of food, shelter and warmth, it’s relatively low – at least compared to the average wage.
So the question is, why do we spend so much of our time and energy in pursuit of money? What’s in it for us?
Think about how your life would change if you had a large amount of money in the bank. First, you’d take a holiday and explore the world. You’d also take a break from your regular work. There’s no point working for scraps when your account is fat with coin.
After a while, though, things would probably start to change in your psychology. You’d eventually realise that a million pounds isn’t a huge amount of money. In fact, you’d soon see your balance going down as you acquired property and cars. You could quickly burn through the whole lot in a few months.
Eventually, you would probably want to gravitate back to your regular life, whether that’s playing slots and games or heading out to work every day. You’d soon find that having more money took the pressure off, but it wouldn’t change what fundamentally matters in your life.
Many of you would also find out just how quickly a mountain of money can disappear. A million pounds is a great retirement fund, but it requires using it frugally. You can’t just blow a fortune on cars and yachts and then expect that kind of lifestyle to last forever. You’ll still need more income to keep it up.
So what’s the solution here?
Here’s an idea. If you ever got a million pounds, don’t fundamentally change your life. By all means, enjoy the extra cash, but don’t believe that it has somehow transformed you into a new kind of person. No matter how rich we get, all of us need to remain faithful to our roots.
Your best bet is to invest it and slowly improve your lifestyle as your pot of money grows. That way, you can hold on to a sense of normality while allowing yourself to indulge in some of the extravagances you couldn’t afford before.