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5 Reasons I Want To Be A Millionaire

September 8, 2008 | Filed in: Miscellaneous | 4 comments

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If you ask just about anyone in the world if they would like to be rich they will more than likely respond in favor of wealth.  No one actually wants to be poor.  In fact some of us want wealth so badly that we’ll do almost anything to get it.  Wars, murders, lies, deceptions, fraud - these are all (almost always) caused by the desire to achieve wealth.  There’s no way getting around that.  Not all of us are so easily compromising on our standards, however, as evidenced not only by the virtuous wealthy, but also by those who passed up on wealth because they were unwilling to compromise who they are and what they believe in.

I’m like everyone else really.  I want to be wealthy, but I wish for this wealth for specific reasons.  I won’t compromise on my methods of obtaining wealth either because that would compromise my reasons for wanting to obtain wealth.  There are 5 reasons I want to be a millionaire.

1.  I want to be free of debt and financially independent.

 This reason for my desire for wealth predicates each and every other reason that I have.  It’s important here to not confuse being “in the money” with truly being wealthy.  So many people in the world appear to be wealthy but in reality are up to their knees in debt.  I don’t want this.  I want to be financially independent and by this I mean little to no debt and loads of cash or securities that are easily convertible to cash.

2.  I want to have the power to choose to do anything I want to do.

 If I wake up one morning and have a great new idea for a product or a business I want to be able to act on it.  This will only be possible if I have the wealth necessary to do so.  This also applies to holidays and even education.  Some day I’d like to get a degree in electrical engineering.  I want to know how circuits and all of those complicated electronic (and computer) parts function.  Also I’d like to eventually see the world.  Unfortunately travel is expensive and unless I can achieve true wealth I might never accomplish this goal.

3.  I want to have a lasting impact on the world.

 My wife and I are very charitable-minded.  We’ve donated to several charities since we married two years ago and this is even as we try to support my education, save a downpayment for a house and build an emergency fund.  So many people in the world have less than we do and even though we don’t have everything we want it feels wrong to not try to support those in need.  One day I’d like to start my own scholarship fund and possibly even a charitable organization.  In the meantime there are hundreds of fantastic charities which need monetary donations. 

4.  I want to be in a position to be able to support my parents.

 If my parents ever need help in their retirement (with medical or monetary things) I’d like to be in a position where I can support them.  They gave me everything that I ever needed for 18+ years of my life and I want to be able to return the favor.  Likewise I’d love it if I could be in a position to help my family members out in times of crisis.

5.  I want to be able to support my hobbies.

 Let’s face it, we all have hobbies that we wish we could support.  For me blogging is a hobby.  I wish I could do it more, but I have to work and go to school.  Of course there are also the less-productive hobbies.  I like to play with tech toys - my MacBook Pro, HD TV’s, etc.  These electronics are often quite expensive.  I also like to play video games occasionally and they cost money as well.

What are your reasons for wanting wealth?  Or are you already wealthy?  If so, what do you do with your money, if anything?

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4 Responses to “5 Reasons I Want To Be A Millionaire”

1. 

   Blake Says:

   
   

   I think a lot of people chase wealth for wrong reasons, and even when they acquire relative prosperity they are never satisfied.

   I love your objectives- I agree with every single one of them. We need more people to think like that, and less to hoard their wealth and shield themselves from the world behind their gated communities…

   Blakes last blog post..The Rift Created by The Four Hour Workweek

   September 8th, 2008 at 7:08 pm
2. 

   Lucas Says:

   
   

   I think everyone wants to attain #1, but definitely not #3. Only a few select people want to make a great and positive difference in the world, and that’s a sad thing.

   Lucass last blog post..Are Typo Domains Worth It?

   September 9th, 2008 at 12:03 am
3. 

   vilkri Says:

   
   

   Let me look at these motivations with a critical mind.

   1. You don’t need to be a millionaire to be debt-free.

   2. A million dollars may not be enough to do anything you want to do. This really depends on what exactly you want to do. Setting (financial) goals that support your desires is more important than to take a random number like a million dollars or two or whatever.

   3. You don’t need to be a millionaire to have an impact on the world. Mother Teresa had a tremendous impact on the world but no money.

   4. If your parents indeed need help, this is a good motivation. However, as a parent I can tell you that my kids “pay me back” for 18+ years of support by them having a happy and good life irrespective of my needs.

   5. This also depends on your hobbies. See response to 2.

   Please forgive me for being so critical, but I have to end this comment with a question. What is the real reason to become a millionaire?

   September 9th, 2008 at 6:19 am
4. 

   Joseph Says:

   
   

   Vilkri,

   Thank you for your thoughts. I appreciate you being critical of my list. It makes me think and I have to defend my position as well. I’ll follow through with a numbered list as you’ve done.

   1. Many millionaires are in debt, I realize that. However being debt free is only a small part - I want to be financially independent. I do realize that this does not require a million dollars or more, but it is easily done at this level.

   2. You’ll notice that I never said a specific amount of wealth that I want to achieve. I want to be a millionaire, but I don’t necessarily know how many millions I want to make yet. That will come as I further develop my goals and ideas.

   3. Thank you for pointing this out. I meant to, but I didn’t want to deviate from my point. However it is worth pointing out that money isn’t required to make a difference.

   4. This is also a good point by you. I hope that my parents feel the same way about me, whether or not I ever do become a millionaire.

   5. See number 2. I never specified an amount - I just specified that I want to achieve “great wealth” with that term being relative of course.

   Thanks for your comments. I really appreciate how well thought out it was.

   September 16th, 2008 at 4:34 pm

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