Everyone thinks they need to be a billionaire to have a luxurious lifestyle.
I beg to differ. You need to know your ‘number’.
With your number, I mean the net income you need to support a highly luxurious lifestyle on your own terms.
Find your number by doing the following exercise:
Step One: Make a list of all the luxurious things you would like to do every year if you had the money. Set yourself no limits here.
For instance, for me, I want to do the following things weekly:
- I would like to have a private chef. The cost of this is 450 bucks a week for a family of five.
- I want to go floating two times a week which is 80 bucks a week.
- I want to have a massage every week which is 60 bucks a week. Etc…
You get the deal. The goal is to have a long list of all your wishes.
Go outrageous and dream up an immense luxurious lifestyle.
My complete list is long, but that’s okay. It includes eight weeks of holiday vacation and owning an old farm in the backcountry.
Step Two: Now, figure out the monthly cost to sustain everything on your list. Add those monthly bills up to a year, and you know what you need to make in a year to have the lifestyle you dream of.
But you’re not done yet.
Step Three: Next, you add 25% on top of the number from step two. This added money is for saving and investing.
Now you’re done with the exercise and you know how much money you need for the things you want to get out of life.
When I first did the exercise I was shocked because I thought I needed to be a multi-billionaire for the lifestyle that I wanted but I never really did the math.
Do your own math and you’ll be surprised how much more in reach your ultimate luxurious lifestyle is.
Final step: Now you need to figure out how to get that yearly money you need.
More on this step later, since it’s the hardest one of all 🙂
But you can do it.