How much money do you need for your ideal lifestyle?

[Scipio]

How much money would you need to earn (per month or per year) to have the lifestyle you want? Maybe not your completely ideal lifestyle, but a lifestyle where money would probably be the last of your worries and you'd really want to work on the other areas of your life for a long time before increasing your income.

Interested!

[Curtis2011]

For me, the first giant milestone (life-changing) would be earning $100 per day, or about $3000 a month from passive income.

That way, I could pay for my own apartment and living expenses, then focus my free time on expanding my passive income as well as my passive, long-term development in other areas of life (personal fitness, my diet, mental exercises, emotional wellness, spirituality, opening to love, etc.)


Basically, once your life reaches "sustainable profitability" as Steve puts it, you then have free energy to gradually improve your life so you literally enter "Constant And Never-ending Improvement" or CANI as Tony Robbins called it.

[CoolBee]

Well to fund my current lifestyle I need about $US12000 p.a. + extra money if I want to make more visits abroad, or have more luxury items. I will need more when bank base rates start to rise as my mortgage is a base-rate tracker.

I did sit down a while ago and try and figure out what I would do different if I were a £ millionaire - there wasn't much and is mainly cosmetic dental work and perhaps some kind of bodyguard who would physically prevent me from eating more than 700 calories a day until I'm slim. Other than that... I have a pretty idyllic lifestyle (by my measures) right now!

[runningbird]

Ideal would involve taking a few classes, some travel, adventure (i.e. skydiving), getting my nice downtown apartment back, all natural food, and some independent work and study. I'd probably say $6,000 a month of location and schedule independent income.

[ssandra]

For me that would be a minimum of 10.000 Euros per month.

Yes, I like luxury...

I would have spa treatments, go on holidays, go to the luxury gyms, stay in nice hotels, buy lots and lots of gifts for everybody, have diner in great restaurants, have people to cook and clean etc.

[SomeRandomGuy]

Currently my household budget is around $2200 per month, which is comfortable for my wife and I. My ideal lifestyle (which we are working towards) is a much simpler lifestyle, with less materialistic needs. Once we reach our idea lifestyle, I estimate that we will need approximately $1000 per month to live comfortably. To be safe, I'm planning on about $15,000 per year.

[AuspiciousEight]

Currently my household budget is under $1,000 /month for me, the wife, and our son.

[ssandra]

WOW.... am I the only one here who likes luxury and nice, pretty things??

[Scipio]

As for me, $1000 USD after tax per month would be perfectly fine if it was passive income. But I like the goal of earning $100 per day in passive income, or $3000 per month. I would probably give the extra money to a charity I'm really fond of, the Ayn Rand Institute, and help my Mom pay off her mortgage. Note that last month in Korea I was making more than this, after taxes, but I was working as an employee and the job was not exactly fun.

Having $1000 per month in Thailand would be enough for a great apartment for me, as a single guy, as well as a maid to come in twice a week, have all my laundry done for me, travel all around South East Asia, eat delicious food cooked for me by other people at every meal, have 1 on 1 private lessons with Thai language teachers, etc. I already did this as a 19 year old when I lived in Thailand to train Muay Thai. I bought all sorts of luxuries such as custom made suits, designer clothes, and went to restaurants with world renowned chefs. So I would say yes I like luxuries, but getting a good deal is fun for me. Good food is what I spend most of my money on (fresh vegetables and free range meats).

I don't have a car now and probably still would not want one then. They're a big waste of money.

[openeyes]

Three grand per month net (maybe five grand before taxes, depending on the source of income) in passive income would be a game changer, enabling me to save at least half what I make without much effort while living in many of the countries that interest me, and not having to dip into savings while spending time in more affluent areas.

I already make enough to live happily where I am and save money, but portability of income and independence from having a boss would both make a big difference.

I could easily cover current expenses with a grand per month in passive income, and wouldn't bother working at a job I didn't care for at that point, but would still be interested in boosting profits further, until I was at least at the $3,000 mark.

[openeyes]

Originally Posted by AuspiciousEight

Currently my household budget is under $1,000 /month for me, the wife, and our son.

Do you have house payments/rent? My parents lived on about that amount or less with two kids, but they built their own home on family land, never taking out a mortgage.

[openeyes]

Originally Posted by ssandra

WOW.... am I the only one here who likes luxury and nice, pretty things??

I prefer having very few things, focusing more on experience (often free) than acquisition, but what I do have tends to be nice.

[CoolBee]

Yes I consider having time and choices as to what I do with that time the greatest luxury.
I'm not interested in fashion, beauty or cars or fancy meals.
However, I have just commissioned some original art from an Egyptian neighbour who has been stifled in Saudi for 15 years and dying to break back in to what she was good at before marriage and babies!

[AuspiciousEight]

Originally Posted by openeyes

Do you have house payments/rent? My parents lived on about that amount or less with two kids, but they built their own home on family land, never taking out a mortgage.

No - I own my house and vehicles. No car payments. No credit cards. No loan payments of any kind. With no debt of any kind, this is surprisingly easy to accomplish. In fact - our total expenses are only $600.00 /month. We usually waste around $400.00 /month on fast food, going to movies, and buying useless things because we want them.

[SomeRandomGuy]

Originally Posted by ssandra

WOW.... am I the only one here who likes luxury and nice, pretty things??

I'm sure you're not the only one. I actually like nice, pretty things, but probably just have a different idea than you of what matches that criteria. My dream is to live in a little house out in the woods, surrounded by the beauty of nature; trees, flowers and wildlife. I want to grow a lot of my own food, provide my own electric and water, etc. To others that would seem like a bad existence, but to me its heaven.

[BitterFlower]

Originally Posted by ssandra

For me that would be a minimum of 10.000 Euros per month.

Yes, I like luxury...

I would have spa treatments, go on holidays, go to the luxury gyms, stay in nice hotels, buy lots and lots of gifts for everybody, have diner in great restaurants, have people to cook and clean etc.

You aren't the only one...This sounds like my ideal lifestyle. Plus clothes, lots of them lol.

But my ideal dollar amount might be a little lower, maybe 3-5K right now. I have an infant so my travelling and spa time would be limited. Unless you add a high rise condo in a big city like NYC (which is my dream), then the price will go up.

[Apollo]

Right well seeing as the word was "ideal" and not comfortable i'd say...

£50000 UK sterling per month,

yes a lot of money!... still much less than a semi decent pro football player though!

This figure would allow for, luxury house, maintaining luxury vehicles (LOVE cars), extensively holidays throughout the year to high end destinations / hotels aswell as indulging another passion...flying, wouldnt need to own my own aircraft but recreational flying is expensive regardless, i'd also like to make sure my imediate family is well supported.

A comfortable figure for me would be circa £7000 per month, nice flat, car and holidays, clothes etc... could be done for that!

[Curtis2011]

Originally Posted by ssandra

WOW.... am I the only one here who likes luxury and nice, pretty things??

No.

I suppose my $3000 a month in passive income is "For Starters". Meaning, that would be the beginning of the rest of my life. Of course, I would gradually make my life and my business more and more valuable and see the number raise higher and higher each month/year.

But, $3k a month is what I need for basic freedom from others' control.

[Said1]

Presently, an extra 1k a month would alleviate a lot of pressure and add much pleasure to our lives.

[ssandra]

Originally Posted by openeyes

I prefer having very few things, focusing more on experience (often free) than acquisition, but what I do have tends to be nice.

Of course, (free) experience is worth more than 1000 nice clothes. But... I still would like to fly towards that experience first class

Actually if I would travel I would make it a combination of luxury hotels and hostels, because of the luxury and spoiling in the first, and meetin great people in the second.

But yes... I would still like to travel first class. I hate flying so that would make it a bit less annoying.

[openeyes]

Originally Posted by ssandra

But yes... I would still like to travel first class. I hate flying so that would make it a bit less annoying.

Understandable When I've flown first class it's been a much better experience (have an uncle with quite a few frequent flyer miles). I recommend it to anyone who can readily manage it. Even with my current lifestyle I find myself considering custom hand made shoes in the three to five hundred dollar range as potentially worthwhile given how long they last and how much better they may feel. If/when one must wear something, it might as well feel good.

My low figure was based on the qualification "Maybe not your completely ideal lifestyle, but a lifestyle where money would probably be the last of your worries".

For starters, my "completely ideal" lifestyle would involve flying either first class or private via a Cessna Citation X (until scram jets are available), a helicopter for getting across shorter distances, a personal driver for when I'm not in the mood to be driving a custom sports car (grew up watching my dad build and play with sports/race cars), a maid to take care of most household tasks, and a cook for when I neither feel like eating out or making something myself. Being able to live in Switzerland with no concern for price would be rather nice too.

Even 10,000 Euros per month might not cover everything (net worth of $30 million+ would be the goal), but I already enjoy myself on $1000 US per month where I am, saving the rest of what I make for travel/boosting income, and the peace of mind that I can afford most anything I need without going into debt.

ps: writing this reminded me to go back and read Steve's How to Get From a 7 to a 10 again.

[Figment12]

I'd need at least 280 a week for food since I like to eat out
I do like nice things, but I generally wait for a sale. I'd say 500-1000 for clothing and stuff
Rest of the money for things like cars, house, investments etc.. not looking to drive a Sentra for the rest of my life, would really prefer 370z or even a g37

so roughly 3000/month at least right now. I've been accustomed to living with basics and little.

But more would be nice I'm aiming for a job of minimum of 70k/year

[Grindin]

For my IDEAL lifestyle...

about 25k per month. and, once I get their probably more.

[gg282]

WOW... About 75% of the respondents here are small thinkers. $400 a month, $1000 a month?

Is that an idea life style?

My idea lifestyle would require at least $15,000 a month. Now that is my idea life needed income. Do I make that now. No. Can I in the future? YES... working on it now.

In fact, starting several different income streams to achieve the life style that $15,000 a month or more can buy.

Hmm, lets see... $15,000, then I'll get hit with 30% in taxes maybe, leaving me with around $11,000 to spend or invest as I desire.

Hope to achieve massive results in 2010!

Gary

[rocksupreme]

Originally Posted by gg282

WOW... About 75% of the respondents here are small thinkers. $400 a month, $1000 a month?

Is that an idea life style?

My idea lifestyle would require at least $15,000 a month. Now that is my idea life needed income. Do I make that now. No. Can I in the future? YES... working on it now.

I don't know, man. I guess "ideal" is a subjective thing. If I was making $15,000 a month, I honestly have no idea how I would use it.

For me, "ideal" would mean living on a beach in the South Pacific for six months out of the year and traveling for martial arts workshops and training the other six months. Since my expenses for the workshops will theoretically be covered, I only need an average of a few hundred bucks a month - and that includes my wife's share.

[Scipio]

Andy,

I've traveled the world training martial arts with literally no job income. I had a little bit of savings but otherwise my money came from directly training martial arts. I got a scholarship to study at a university in Korea where I played on the Judo team for a year. I also lived in Thailand and fought Muay Thai, where I was paid for my fights. I did use some of my savings to have a better life though.

That said, most people wouldn't need much to get good at Muay Thai in Thailand, Brazilian Jiu Jitsu in Brazil, etc. Many of the martial arts hotbeds are cheap as hell.

[Scipio]

Originally Posted by gg282

WOW... About 75% of the respondents here are small thinkers. $400 a month, $1000 a month?

Is that an idea life style?

Well, you didn't read the original post, that's for sure.

My point about only having a few hundred dollars but having maids and great food cooked for me, along with private one on one tuition and balmy tropical weather is that most of it can be had for really cheap if people expand their horizons.

[rocksupreme]

Originally Posted by Scipio

I've traveled the world training martial arts with literally no job income ... Many of the martial arts hotbeds are cheap as hell.

It's absolutely possible. I prefer to have a little "discretionary" money as well, but it sure doesn't need to be $15,000 a month for me to purchase the things I love.

[CoolBee]

Originally Posted by gg282

WOW... About 75% of the respondents here are small thinkers. $400 a month, $1000 a month?

Is that an idea life style?


Gary

Yes - an ideal lifestyle can be had for this - I also think you have missed the point a bit.

What would all those $11000 a month buy you - someone to do your cleaning and catering - if I wanted that I could have that here for less than $US150 a month.

Invest all that money? Where? Hamdulilah, I was too lazy a year ago to shift my savings into a high-interest Icelandic bank account unlike many others and so didn't lose everything. My small investment in the stockmarket is worth just 60% of what I actually invested a couple of years back. Real estate? Well that too - values are substantially reduced on what they were a few years back.

Luxury vehicles? - as Will Smith's father reportedly said to him as he was buying his nth car/motorcycle - "son, you only got 1 ass" - if I want one I can hire one.

Fancy food, clothes, jewels - not interested - never have been. I spent a couple of weeks one time having fancy 3 course meals cooked by a cordon bleu chef twice a day and was begging for beans on toast by the end of it.

Hours of expensive beauty treatments to keep me looking young? No point - last week several women of my own age and nationality (ie not some guy trying to talk me into bed) who met me for the first time thought I was 20 years younger than I really am.

Yes, there are some major (non-personal) projects I would love to carry out if I had bucketloads of money - but as the poster above said, there are other ways of doing things.

I used to earn a pretty fat salary (compared to most) working in corporate - but I was very ill, highly stressed, had no time for friends and family or relationship, no time to read, study, whatever. I decided to think big, not small, and reconfigured my life for smaller financial needs so I could have the TIME to think, relate, read, sit and stare in to space for an hour if that's what I want to do! Take 2 hours drinking my morning coffee if that's what I want to do!

In my (humble ) opinion, TIME is the greatest luxury.

[SomeRandomGuy]

Originally Posted by gg282

WOW... About 75% of the respondents here are small thinkers. $400 a month, $1000 a month?

Is that an idea life style?

My idea lifestyle would require at least $15,000 a month. Now that is my idea life needed income. Do I make that now. No. Can I in the future? YES... working on it now.

In fact, starting several different income streams to achieve the life style that $15,000 a month or more can buy.

Hmm, lets see... $15,000, then I'll get hit with 30% in taxes maybe, leaving me with around $11,000 to spend or invest as I desire.

Hope to achieve massive results in 2010!

Gary

It all depends on what each individual considers an ideal lifestyle. To me, an ideal lifestyle is one in which I am self reliant. The more income my lifestyle requires, the more reliant I am on others (the income has to come from somewhere). I also believe that happiness is easier to achieve with a less materialistic mindset. I believe that the more material goods we have, the more unhappy we are likely to be. In certain parts of the country (such as the area of Southeastern Kentucky where I grew up), people live's took a dramatic turn for the worst once they got a taste of "store bought goods". You had people who had best self-sustaining for years who suddenly became attracted to acquiring money to buy things, and threw their happiness away in the process.