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Just became a millionaire

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  • QrizB
    QrizB Posts: 18,245 Forumite
    10,000 Posts Fourth Anniversary Photogenic Name Dropper
    Reading this thread makes me realise that "millionaire" doesn't really mean what people think it means. Or rather, having £1M in assets might make you a technical millionaire not a practical one.
    I have just learned that the word was first used (or at least, is first recorded in print) in English in 1816. According to the BoE Calculator, £1M in 1816 is equivalent to £100M today.
    Or, if you associate the "millionaire lifestyle" witth the 1960s jet-set, £1M in 1961 is equivalent to almost £23M today.
    N. Hampshire, he/him. Octopus Intelligent Go elec & Tracker gas / Vodafone BB / iD mobile. Ripple Kirk Hill member.
    2.72kWp PV facing SSW installed Jan 2012. 11 x 247w panels, 3.6kw inverter. 34 MWh generated, long-term average 2.6 Os.
    Not exactly back from my break, but dipping in and out of the forum.
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  • Alexland
    Alexland Posts: 10,183 Forumite
    10,000 Posts Seventh Anniversary Photogenic Name Dropper
    edited 16 November 2021 at 1:08PM
    MallyGirl said:
    I loved both my MX-5s - then went to a Z3 which was much safer on the road (very solid) but not nearly as fun.
    Then I had a baby and it was all downhill from there  :smile:
    I had a wonderful 8 years owning my MX5 before we had kids. Still have a framed photo of it in my office. I can see online it still has a valid MOT and sometimes I think about tracking down the current owner and buying it back for after our kids have moved out. I should never have traded it in as it wasn't worth much and we had enough garage space to keep it for a few decades until retirement.
  • MallyGirl
    MallyGirl Posts: 7,201 Senior Ambassador
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    if it wasn't for those pesky kids ...
    I’m a Senior Forum Ambassador and I support the Forum Team on the Pensions, Annuities & Retirement Planning, Loans
    & Credit Cards boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com.
    All views are my own and not the official line of MoneySavingExpert.
  • tr7phil
    tr7phil Posts: 111 Forumite
    Sixth Anniversary 100 Posts Name Dropper
    MallyGirl said:
    if it wasn't for those pesky kids ...
    Luckily I resisted the pressure to get rid of my fun car (Triumph TR7) when we had children and my son would certainly disown me if I sold it now!
  • Albermarle
    Albermarle Posts: 27,871 Forumite
    10,000 Posts Seventh Anniversary Name Dropper
    QrizB said:
    Reading this thread makes me realise that "millionaire" doesn't really mean what people think it means. Or rather, having £1M in assets might make you a technical millionaire not a practical one.
    I have just learned that the word was first used (or at least, is first recorded in print) in English in 1816. According to the BoE Calculator, £1M in 1816 is equivalent to £100M today.
    Or, if you associate the "millionaire lifestyle" witth the 1960s jet-set, £1M in 1961 is equivalent to almost £23M today.
    Another definition , is that you could write a cheque for a Million Pounds , without selling your house or cashing in your pension, or having any other effect on your ongoing life/arrangements, like your expensive car, yacht, expensive holidays , private school fees etc 
  • cfw1994
    cfw1994 Posts: 2,127 Forumite
    Part of the Furniture 1,000 Posts Hung up my suit! Name Dropper
    MallyGirl said:
    if it wasn't for those pesky kids ...
    ...we'd all be millionaires!
    Plan for tomorrow, enjoy today!
  • Scrudgy
    Scrudgy Posts: 161 Forumite
    Tenth Anniversary 100 Posts Photogenic

    Not a convertible , or even a SUV , but a nearly new estate ( 50 miles only ) , so a bit boring really. However it is very nice to drive and comes with all bells and whistles .
    As a dedicated MSE'r you will be pleased to hear that due to the unusual state of the car market , four months after I picked it up ( seven months after the price was agreed) it is worth about 10% more now than it was then. Despite being older and having 3k miles on the clock.
    BMW 5 Series 530 xDrive M Sport Touring?
  • Albermarle
    Albermarle Posts: 27,871 Forumite
    10,000 Posts Seventh Anniversary Name Dropper
    Scrudgy said:

    Not a convertible , or even a SUV , but a nearly new estate ( 50 miles only ) , so a bit boring really. However it is very nice to drive and comes with all bells and whistles .
    As a dedicated MSE'r you will be pleased to hear that due to the unusual state of the car market , four months after I picked it up ( seven months after the price was agreed) it is worth about 10% more now than it was then. Despite being older and having 3k miles on the clock.
    BMW 5 Series 530 xDrive M Sport Touring?
    Let's not get carried away . I am far too tight to pay through the nose for a German car badge  :).:smile:


  • Alice_Holt
    Alice_Holt Posts: 6,094 Forumite
    Ninth Anniversary 1,000 Posts Name Dropper
    Scrudgy said:

    Not a convertible , or even a SUV , but a nearly new estate ( 50 miles only ) , so a bit boring really. However it is very nice to drive and comes with all bells and whistles .
    As a dedicated MSE'r you will be pleased to hear that due to the unusual state of the car market , four months after I picked it up ( seven months after the price was agreed) it is worth about 10% more now than it was then. Despite being older and having 3k miles on the clock.
    BMW 5 Series 530 xDrive M Sport Touring?
    Let's not get carried away . I am far too tight to pay through the nose for a German car badge  :).:smile:


           Skoda Superb ?
    Alice Holt Forest situated some 4 miles south of Farnham forms the most northerly gateway to the South Downs National Park.
  • Alexland
    Alexland Posts: 10,183 Forumite
    10,000 Posts Seventh Anniversary Photogenic Name Dropper
    I love how Mistermeaner's slightly gloaty thread has turned into a guess the car competition 
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