A million pounds does not go as far as it used to, with people now needing nearly £3m to lead a millionaire's lifestyle, new research suggests.
Property price rises mean there are now many more millionaires
Private bank Coutts & Co says the value of £1m has fallen so much in the last 25 years that it does not now afford a truly luxurious lifestyle.
People now needed £2.6m to enjoy all the trappings of wealth, it said.
Property price rises of more than 575% were the main reason for £1m going much less further than it used to, it added.
The bank found that, between 2001 and 2004, the number of UK millionaires had soared by more than 80% to reach 425,000, thanks to a 64% house price jump.
Chief executive Sarah Deaves said that while £1m would provide a millionaire's lifestyle "a few times over" 25 years ago, it would now "only afford a small portion of the trappings".
"One million pounds is obviously still a sizeable amount of money, which, if invested correctly, can afford a high standard of living and provide financial security in later life," she added.
"A millionaire used to be someone who was seen as super-wealthy, a person who didn't have to work if they chose not to, and who was able to live a life of luxury simply by having £1m in cash or assets."
The bank considers a millionaire's lifestyle as including a luxury five-bedroomed house with staff, an apartment, two luxury cars, a yacht in the south of France and two luxury holidays a year.
But, despite the bank's research, its own survey found that 65% of people would immediately quit their job if they won £1m.
It also said that more than half of those questioned thought they might become millionaires during their lifetime.
Londoners would need the most cash - £3.47m - to support a millionaire's lifestyle compared with just £451,000 to support the same lifestyle in 1980.
Wales would be the cheapest region in which to live the same lavish lifestyle with £2.2m needed, according to the research.