Who wants to be a millionaire?

We all want to be millionaires. Stately mansions, fast cars and all the trappings of the rich and famous are something that most of us just dream about. But is the millionaire lifestyle really that great?

David Beckham, Lewis Hamilton, Madonna and Guy Ritchie, they all have one thing in common – money, and lots of it. And while these stars certainly have enough to fund their lavish lifestyles, reaching millionaire status doesn’t quite have the sway it did a few years ago.

There is nothing wrong with having a million quid in the bank, but it can bring its own complications. First off, £1,000,000 doesn’t go quite as far as it used to. With property prices escalating and rising inflation, the price of the millionaire dream has rocketed in recent years.

In fact, if you really want to live the millionaire lifestyle you would need something in the region of £5.8 million. And to join the country’s elite you would want to be aiming for a bank balance of £100 million plus.

And it would seem that it doesn’t do to simply pass the million mark any more. New research conducted by the Centre for Economics and Business Research (CEBR) for the National Lottery looks at five classes of millionaires in Britain, from the never-have-to-work-again riches of reality TV stars through to Premiership footballers and beyond.

£1.7m would make you a blue millionaire and in the same league as Jade Goody. This means you’d be able to give up work and still lead the life you live now for the rest of your days.

A lottery win of £5.8m would make you a silver millionaire enabling you to bling up your current way of life and live the rock star life like Joss Stone. The gold millionaire needs £13.8m taking you into the league of Premiership footballers and their WAGs. The platinum millionaire has £58.6m in the bank putting them in the same club as Britain’s most famous actors, actresses and iconic supermodels such as Kate Moss. To be in Beckham territory however you’d need a staggering £108.6m making you a Black-Card millionaire.

However, in the grand scheme of things this is more money than most of us know what to do with, and a lot depends on the life you lead. For example, where you live will have a big affect on the life you lead. For example the North East and Wales are the cheapest places to be a millionaire in the UK, while the most expensive place is London.

And while £1,000,000 might not go far in Britain, if you look a little further afield early retirement might be a little closer than you think. Kicking back on a beach in Bali or another tropical paradise will cost you only a fraction of what it costs to get by in Britain.

So, if your assets and savings are approaching the million mark you may not be joining the likes of David Beckham and Madonna quite yet, but it is a good start.