When I was a kid, our family would go on a road trip, my dad would tell us to stay in the car, and he would send us to the motel. That’s because, in order to save money, he would book a motel room with 2 single beds for a family of six. Then once he got the key, we would walk into the room quietly, avoiding the hall.
When we got there, my father would “call”.
“Hi, this is Room 324,” he would say. “Can you bring more towels to our room?”
“Yes sir. How much do you need? 1? 2?”
“How about 4? It would be great if you could send two cribs.”
“Sir, this room is only reserved for double rooms. We can’t-“
Dad: “Thank you!”
Ha ha! We think this is normal. It was not until later that we realized how fun it is to squeeze 6 people into a 2-person room. But without such a thing (and little Lammett sleeping on the sofa), taking a family trip can become very expensive.
So our family vacation was fun but simple: a road trip to Los Angeles to visit our family. That’s it!
Fast forward about 30 years. My wife Cass and I visited Mexico and stayed at one of my favorite hotels. We had a wonderful time.
When we were there, we said, “This will be a great place to come back with our friends.” So a few years later, we chose a date and I emailed a few friends.
This is the content of the email:
We want to spend it together! This is our plan:
We will travel to Rosewood Mayakoba for 5 days on these dates.
My vision is: have 3 dinners together, and the rest is free time. You can rest by the pool, you can exercise, you can rent a boat, whatever you want.
I will be responsible for arranging dinner. You just came!
guess what? They did it!
We had an incredible dinner and laughed all night long, leaving Cass and me with memories that will never be forgotten. It was great to be in this magical place with good friends.
What are your thoughts on these two holidays?
In the process of growth, price is the main factor in planning holidays.
For our trip to Mexico? The price has nothing to do with it. We build it around things that are important to us:
- beautiful place
- Eternal memories with friends
- delicious food
These things are part of our rich life. We want to do this. The price is an afterthought.
There are so many things like this, and I’m spending it lavishly. Some of my favorites:
- Tailor-made clothing
- Have a special experience with my parents
- Go to amazing places like Rosewood Mayakoba
But there are many things I don’t spend money at all. For example, you will never see me wearing an expensive watch. why? Because I don’t care at all.
The same goes for sports, organic meat, and cars. I’m not kidding. This is how I enjoy tacos on the trunk of a 4-door Honda Accord. I have owned them for more than 15 years.
These things are not part of my rich life. Maybe they are suitable for you, that would be great.
The point is, once you master the basics and money is no longer the main factor, you can start designing your life around the things that really matter to you.
You can design yours Rich life.
What is a rich life?
So what is a rich life? Are you wearing a Rolex watch, or is there a porcelain closet? No!
The rich life is yours ideal Life-In this case, you can look at personal relationships, financial status and daily life, and then say: “Wow!”
That might be:
- Pick up kids from school every day
- Purchase a cashmere sweater worth $1,000
- Buy anything you want from Whole Foods without worrying about the cost
- Take your family through an incredible Disney World vacation they will never forget
Your rich life is yours. Not your parents’ or your friend’s. Not even mine. yours.
This is a fulfilling life.Lead a life intentionally, initiative, and rich.
A rich life is not only about money.At IWT, we treat money as tool Design, enhance and enjoy the life you want.
So, what does yours look like? Watch the video below to learn more about what it means to live a rich life.
A sign of a truly rich life
Everyone has their own opinions on how you should live. It may be difficult to know what a rich life is and what is not.
This is why I created these rich rules of life. Think of them as compasses, pointing you to a truly rich life.
Rich life rule #1:
Your wealthy life should suit you like handmade gloves
What does it mean: You can choose to rent or own, travel one month a year (or not travel at all), buy a new Tesla, or beautifully decorated house.
Your rich life is yours—not mine, not your friends, nor your parents. There is no judgment.
Part of creating a rich life is the willingness to be different without apology.
Once money is not the main limiting factor, you can freely design your own wealthy life, which will almost certainly be different from ordinary people. Embrace it. This is the fun part!
What it looks like: I like Japanese design and architecture. I even collect photos and examples that I like.
When my wife Cass and I travel to Japan, I want to visit the home of a Japanese couple. This is very rare, so I hired a company to help us arrange it.
The couple are both architects, so they showed us their home. Then I showed them the pictures I collected, and they explained the Japanese design concepts behind them. I love it!
We also took a small cruise on a magical ship. (See picture above)
This trip is meaningless to others, but it is very meaningful to me.
Rich life rule #2:
A rich life puts you in control
What does it mean: Life is not a Disney movie. No one will save you!
The good news is that you can control your finances and build your own wealthy life-that’s it you Want it.
What it looks like: When I just graduated from university, I turned down a job offer at Google and joined a start-up company.
Later, I rejected VC investment to run IWT—it was 100% guided—so I could maintain control. That is part of my rich life.
Rich life rule #3:
Getting started is more important than becoming an expert
What does it mean: Too many of us think we need to do everything perfectly and are at a loss for what to do. Do you know what will happen in the end? We do nothing!
This is especially true when we design our wealthy lives. This is why the easiest way to build a rich life is to take it step by step-without worrying about perfection.
I call it the 85% solution. I would rather take action and be 85% correct than do nothing. Think about it: the 85% approach is far better than 0%.
This also applies to money. Once your money system is good enough-or has reached 85%-you can continue your life and do what you really want to do.
What it looks like: I keep it simple:
- I have a very simple portfolio.
- I have several credit cards.
- I follow a simple fitness plan.
If you keep things simple, it’s easier to get started and easier to move on. Most importantly, it gives you more time to do what you really like.
Rich life rule #4:
It’s okay to make a mistake
What does it mean: The road to an affluent life is not perfect.
You will make money mistakes, personal relationship mistakes-you may even change your wealthy life. This is totally fine.
Make mistakes early when the risk is low, and you can learn from it.
What it looks like: I made a mistake when I invested in individual stocks in the early days. If you have read Chapter 7 of my book, you will know why this is a bad idea.
In my business, I hired the wrong people. I didn’t manage it properly. I made the wrong strategic choice.
everything is normal!
I even set up a failure folder in my email account. If I don’t send there 5-7 failures a month, I know I haven’t worked hard enough. If I have not worked hard enough, I have not learned enough.
Rich life rule #5:
Offense, not defense
What does it mean: Too many of us use our finances to defend:
- We waited until the end of the month, then looked at our expenditures, and shrugged: “I think I spent so much.”
- We accept heavy expenses.
- We don’t question complex advice because it is provided to us in a language we don’t understand.
Do not do this. Use your credit card, your bank, your investment, and even your own financial psychology to attack.
What it looks like: First, I used my money to cover the basics:
- Auto save
- Automatic investment
- Basic criteria, for example, savings + 20% of total investment income
(I covered this in chapters 4 and 5 my book.)
Secondly, I attacked for my vision of a rich life. This includes setting aside funds for specific goals.
For example, one of our dreams is to hold a beautiful 10th wedding anniversary celebration in India. We know the exact location, and we also know exactly who we want to take. We consciously save money for this-every month.
Rich life rule #6:
You don’t have to wait until retirement to live a prosperous life
What does it mean: You don’t have to wait until 65 years of age to live a wealthy life. You can start living now.
Be specific. What would your “daily” wealthy life look like? maybe……
- Distribute full-size candy bars to children on Halloween
- Grocery shopping regardless of price
- Every time I sit in it, I buy a car worth $100,000
- Spontaneously extend your vacation by one day
- Buy popcorn in the cinema
The goal of a wealthy life is to enjoy today and every day thereafter. Don’t postpone joy for a distant future date. No one wants to be a 95-year-old rich man with regrets.
What it looks like: My wife and I take 4-6 weeks of vacation at the end of each year.
In addition to the fun of traveling, we also set aside time to relax, read, and set goals for next year.
When I can’t decide which dish I like in a restaurant, I will order two dishes at the same time. Being able to say “yes” and try both makes me happy every time.
The rule of rich life #7:
Focus on big wins
What does it mean: There are some big victories in life—if you just get them right—you hardly have to worry about the small things.
For example, learn how to negotiate your salary? Big win. Adjust the format of your resume? small thing.
If you can focus on 5-10 big victories instead of 50 small things, you can have an insurmountable advantage in life.
What it looks like: Learn to eliminate noise: Eat less latte! The stock market is too high! Use font 11.5 on your resume!
Instead, focus on Big win like:
- Start investing early
- Find the job you dream of
- Make money
- Increase credit
- Cut costs ruthlessly on things you don’t care about
By doing these things, you will be ahead of 99% of the people-and you can order as many lattes as you like.
The rule of rich life #8:
A rich life is generous
What does it mean: The real rich have enough returns. If you live a prosperous life, you can share your time, money, resources, or talents with the world.
What it looks like: I donate to the cause I care about.
I like to tip. I always donate to my friends’ fundraising activities. I think generosity is a sign of a prosperous life. (Note: this means more than just donations. Volunteering is a great way to give back!)
Build your wealthy life
To live yours A unique and rich life needs to start with a vision. What does it look like? Where are you going? Who will you take?
I designed a brand new free mini course to help you do this: How to design your affluent life.
In 1 hour, you will paint a vivid picture of your personal wealthy life so that you can start your life consciously, focusing on the things you like and ignoring the things you don’t like.
In this process, you will learn:
- What is a rich life and what is not?
- How to map your rich life.
- How to set aside your happiness.
After completion, your vision will be your vision and will guide you through the rest of your life.
Enter your information below to register, it is completely free.
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