Your Ideal Lifestyle…Can You Afford It?

Growing up, I remember watching the “Lifestyles of the Rich & Famous”, with host Robin Leach, mesmerized by the abundance of wealth others had. I didn’t know how these people acquired their wealth and, frankly, it didn’t matter. At that moment, I was happy for them because they owned mansions, diamonds, expensive cars, etc. Material things like these seemed unattainable in my world. People didn’t live lavishly in my neighborhood. So, while watching the TV program, all I could do was live vicariously through the rich and famous.

Reminiscing on my childhood got me to thinking about lifestyle choices.

What is your ideal lifestyle? Do you want to wear Jimmy Choo and Tom Ford? Do you want a $300,000 or $4,000,000 home? Do you want to have the luxuries of taking vacations when you want to any exotic island of your choice? What type of lifestyle do you want to have?

Lifestyles are created. Whether it is created by you, your spouse, or your parents, what ever you are given/acquire forms the basis of your lifestyle. So, this mean that if your lifestyle contains expensive things, you  have to make sure that you can afford them. This is where you ask, “Do I make enough on my job? Am I making the right investments? Am I saving up enough each month?”  In order to secure the lifestyle you want, the money you accumulate must be able to support it.

For the people that have no idea what type of lifestyle they want, I found a cool quiz that allow you to pick various scenarios. You can use the quiz as many times as you like. The quiz will help you determine what lifestyle you are best suited for (based on your current income and/or your income if it experience some changes in the future).

To access the quiz, go to LearnVest.com.

If possible, try to figure out what lifestyle you want early in life. This way you will have ample opportunity to create the perfect life.

After taking the quiz, let us know what lifestyle you chose and how you plan to acquire it. Who knows, your financial plan may be able to help someone else make the right lifestyle choice.