Entrepreneurs and wealthy individuals like Neil Patel are known for their extravagant lifestyles and spending habits. Patel, who made his money through various successful businesses, does not keep track of his $200k per month expenses, but instead spends where it makes sense to him. He believes in maximizing his joy and investing in experiences and services that add value to his life. Patel’s spending includes housing expenses in Beverly Hills, hired help like nannies and drivers, and investments in cars and food that offer a return on investment.
While Patel enjoys the luxuries that his wealth affords him, he is also conscious of not spoiling his children with extravagant gifts. He wants to instill in them a sense of humility and an understanding of the value of hard work. Patel and his wife are generous with their donations and regularly give back to those in need, recognizing the importance of making a positive impact on others. Patel’s long-term goal is to reach a billion in annual revenue by age 47, while also continuing to donate more and more of his wealth, aiming to leave close to zero net worth when he passes away.
Keeping perspective is crucial for individuals like Patel, who often compare their spending habits to those of their wealthy peers. While it can be easy to feel inadequate in comparison, Patel emphasizes the importance of being content and happy with who you are in life, rather than solely focusing on accumulating wealth. By openly discussing money and sharing financial insights with others, Patel and his peers aim to normalize discussions around income and spending, removing the taboo and emotional attachment often associated with financial matters.
Ultimately, the key to navigating the lifestyle of the wealthy is to make choices that align with your values and bring you true happiness. Whether it’s investing in experiences, hiring help to save time, or giving back to those in need, the decisions you make with your money should reflect your priorities and goals. By approaching money as a tool to enhance your life and the lives of others, you can create a meaningful and fulfilling existence, regardless of your financial status.
