Fund your luxury lifestyle with these tips

by **Admin** Wed Feb 28, 2018 10:42 am

Not everyone can afford to live a luxury lifestyle. The matter of the fact is that some people struggle to make ends meet, let alone indulge in elegance and opulence. While you’re not a filthy rich person, it’s within your financial means to buy nice clothes, jewelry, cars, take trips around the world and enjoy fine cuisine. So you think. The likelihood is that you’re living a life that you can’t afford. If you would try to manage your finances, then you would see that your spending has gotten out of hand. Do you have any money left at the end of the month? If the answer is no, then you have a problem. The good news is that you don’t have to give up your life of luxury. All you have to do is find ways to finance it. We have some suggestions for you right here.

Invest in a rental property

You’re renting the property that your aunt left you, but you can’t say that you’re making a significant profit. If you want to make good money with renting, then you should be investing in a multi-family house. Savvy real estate entrepreneurs invest in multi-family homes and so should you. A rental unit of this kind doesn’t cost you a lot, not to mention that you can create a cash flow. You don’t have several individual properties. What you’ve got is 12 homes under one roof. This translates into the fact that you’ll only be needing one property manager. With tenants paying you rent, you’ll be able to afford your luxury lifestyle.

Where do you get the money? Simple. You sell the real estate property and invest in a profitable equity. The only problem is that you have to pay capital gains tax. No, you don’t. If you do a 1031 exchange real estate, you’re off the hook. You can reinvest your proceedings and live a good life. Basically, you exchange the real estate property for a like-kind one, in other words, a multi-family house. It’s recommendable to get a professional to help you. The process is a complex one and you need all the help that you can get. Locate the buyers and start searching for a replacement property. Once you do that, have your funds released and complete the transaction.

Get a Bachelor’s degree

Many people live from paycheck to paycheck. The reason for this is that they don’t make enough money to be able to put something aside. If you want to live a luxurious lifestyle like the rich, then you need a high-paying job. In case you didn’t know, you need a Bachelor’s degree to land a job that comes with a high salary. Until now, you’ve spent all your time shopping. Think about putting your time to good use. More precisely, get yourself an education. Although it might seem impossible, the right education can increase your ability to earn a high income.

Many experts agree with the fact that education is the key to finding a better job. With a high school diploma, you’re not going to get ahead; you can be sure of that. Nonetheless, with a university degree, you can make almost 10 times more money than someone with a high school diploma. Okay, okay, maybe you’re not the type of person that would venture into the medical or legal field. There are many opportunities for you out there. For instance, you can become a public relations manager. This career is very lucrative. You can make thousands of dollars per year, which should be enough to sustain your life of luxury. Going back to school is probably the last thing that you want to do right now, but you should at least give it some thought.

Sell your old stuff

If you need to make money really fast, then sell your old stuff. Your closet is full of clothes that you haven’t worn for years. Don’t you think that it’s time for the two of you to part ways? You live a luxury lifestyle, so chances are that the things in your possession are valuable. Take everything you have, including clothes, shoes, books, and jewelry, and sell it for cash. By getting rid of your old stuff, you can make large sums of money quickly. Sure, you’ll be selling the items for less than you paid, but keep in mind that you need a cash infusion. If you know where to sell your unwanted stuff, you can get the most cash.

If you have more garments than you can handle, then it’s a good idea to take them to a consignment store. Shops selling second-hand clothing can’t wait for the opportunity to get their hands on fine pieces of clothing. On the other hand, if you have too many books, think about selling some of them on online platforms like eBay. You have very singular items and there’s no better place than an online marketplace. It’s not necessary to promote your stuff too much, not to mention that you have total freedom when it comes to setting the price. If you know good bookstores, then you can drop them off in person.

Buy stocks

In case you didn’t know, stocks aren’t only for entrepreneurs. Even ordinary people can invest in stocks and make a beautiful profit. Attention needs to be paid to the fact that you’re making a long-term investment. If you’re not committed to trading stocks, you won’t make a fortune. People always talk about the newest goods and merchandises. The main problem with new stocks, like Cisco, is that they crash immediately. What you should be focusing your attention right now are stocks that don’t trade at record highs. The most important thing that you need to remember is that investing in the stock of only one company is risky. You dot want to lose your money, right? So, diversify your portfolio. Your aim is to be a success story, not to lose your hard-earned money.