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How to Live like a Millionaire the Easy Way

1. Work online and get your cash flow up to 150,000 USD for American living, less elsewhere. If you follow my tips below this will be enough to save 50% of your income which is enough to hit financial independence.

2. Stop committing to leases, gyms, and long term car contracts. These are incredibly poor deals in most parts of the world that have awful laws lobbied for by years by large corporation. Instead, rent you entire place from Airbnb, live centrally to not need a car, and please book a place with a full gym. Around 2-2.5k/mo, less if you rent a private room.

3. Use meal preparation services to get 21 meals delivered every Sunday to your rental. My services deliver anywhere in the US and I have another one delivering anywhere in Europe. These meals are incredibly nutritious for gym rats and take 3 minutes to microwave. Not even $750/month in the US and cheaper elsewhere.

For less than 3.5k USD, you can live in a way that frees up all of your time. Your gym is underneath the flat, your furniture WiFi is all paid for, your food is all delivered.

This combined with say $1000/mo of “social spending” - drinks food - and you can dine at 80% of restaurants, buy 80% of clothes, try 80% of activities, and so on.

150,000 is much lower than say $3-5M in the bank which will take ages to hit. There is a lot of bad advice out there regarding money and I want to try in some small way to offer better advice, from someone who has tried a lot of things.

 

 

Lucio Buffalmano has reacted to this post.
Lucio Buffalmano

I think I must have missed something here. This looks like a typical lifestyle of a college student, which is not bad per se.

What specific "millionaire activities" are you referring to?

 rent you entire place from Airbnb, live centrally to not need a car, and please book a place with a full gym. Around 2-2.5k/mo, less if you rent a private room.

Not too sure about millionaires as I don't know them too much. But none of the billionaires I know choose to save on housing, because:

  1. Having a high-quality sleep significantly increases your productivity
  2. Living in a bright, large, high ceiling house with a well maintained private garden in a un-crowded location make your mood significantly better, which further increase your productivity
  3. House is an investment if wisely chosen
  4. Single house usually provides better privacy and security; no apartment admin will break into your unit

They also rarely save on transportation because their time, security, and privacy are highly valued.

I am also sure that no millionaire put $3-5M in bank. Well, in some rare scenarios, for example, right before buying a house or a company, they might temporarily put $3-5M in bank, but they never just put $3-5M there in long run.

Those are just my personal experience and opinion that I don't force anyone to accept. Feel free to contradict these points with facts and numbers.

XQC has reacted to this post.
XQC

Some very good points though:

  1. Stopping the leases: great
  2. Avoid owning what you don't necessarily need: I've never owned a car, SO much money saved
  3. Use ingredient delivery services: great
  4. Save gym fees: one thing I love about many modern condos is the gym and swimming pool right inside the building. It makes sense. From my point of view, a good body is not "big", but effective, so I personally don't even need equipment, albeit they sure won't hurt if they're available

What I'm personally not sure and that was not what I experienced, is about the renting.

Renting can get more expensive than buying.

A different approach if one is willing to share the premise: buy or rent the whole flat, then sublet the extra room(s).

From social and power dynamics: people tend to be far more respectful and to pay on time when you're in the house. That has a real dollar impact.
And you can keep an eye on everything, so you also avoid a lot of the issues with renting.

So now you're paying a good chunk of the mortgage -or in some cases all!- with the rent. So you save on rent, and you end up owning while you actually paid out very little.

XQC has reacted to this post.
XQC
Have you read the forum guidelines for effective communication already?

@selffriend

I will keep that in mind that housing can be a great luxury if you go high end. Even then however, I have yet to see value past say $4k/mo in NYC, which is incredibly expensive. I can get a very large living room on a high floor with panoramic views downtown to host parties and multiple bathrooms. Maybe if you go full mansion in the sky but for that I can find roommates and we will split the Bill and hosting duties making it come to $4k/mo/person.

For productivity, I haven’t been hit using ‘cheaper’ housing so far since I just use whatever TV is in the room as my second monitor and travel light. For clothing, one suitcase really is enough as I have a handful of outfits and just replace bad ones if they are getting too unstylish.

I have personally wasted a lot of time ‘managing’ when I could have just outsourced my work instead. I feel very empowered now that I can autopilot my daily needs and can concentrate energy on much harder tasks. For example, hitting gym. A lot of upper class people look good because they just have time to work out unlike the average person.

I also used to spend a lot of time watching ‘entrepreneur’ videos only to realize most of the high end things they buy are rather obsolete. Assistants, chefs, personal driver, accountant, I can afford 1-2 of these individually but the overhead is just awful. A VA is the only service I  might use and even that is ~$500/mo.

Would definitely love to hear others thoughts since the goal of money is to save time and to go out in my opinion.

 

selffriend has reacted to this post.
selffriend
Quote from XQC on April 8, 2021, 2:48 am

@selffriend

I will keep that in mind that housing can be a great luxury if you go high end. Even then however, I have yet to see value past say $4k/mo in NYC, which is incredibly expensive. I can get a very large living room on a high floor with panoramic views downtown to host parties and multiple bathrooms. Maybe if you go full mansion in the sky but for that I can find roommates and we will split the Bill and hosting duties making it come to $4k/mo/person.

For productivity, I haven’t been hit using ‘cheaper’ housing so far since I just use whatever TV is in the room as my second monitor and travel light. For clothing, one suitcase really is enough as I have a handful of outfits and just replace bad ones if they are getting too unstylish.

I have personally wasted a lot of time ‘managing’ when I could have just outsourced my work instead. I feel very empowered now that I can autopilot my daily needs and can concentrate energy on much harder tasks. For example, hitting gym. A lot of upper class people look good because they just have time to work out unlike the average person.

I also used to spend a lot of time watching ‘entrepreneur’ videos only to realize most of the high end things they buy are rather obsolete. Assistants, chefs, personal driver, accountant, I can afford 1-2 of these individually but the overhead is just awful. A VA is the only service I  might use and even that is ~$500/mo.

Would definitely love to hear others thoughts since the goal of money is to save time and to go out in my opinion.

 

In NYC apartment makes senses for millionaires. Everyone stays in apartment except some of the super rich guys. I was not think about NYC at all because you said you are now working entirely remote so you decided to choose a place with cheap living expanse (while NYC has one of the highest living expense).

One sincere suggestion for everyone is to not save on food, as you are literally made of the food you eaten. Either go high end or have a girl cook for you with heart.

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