3 Budgeting Tips for the Comfortably Wealthy

When you are comfortably wealthy, budgeting tips take on a whole new meaning. Instead of trying to budget just to get by, a whole new set of objectives is needed. Here are a few budgeting tips for those that are comfortably wealthy.

1. Consider Percentages

When you are comfortably wealthy, you will not want to stray very far from the money practices that got you where you are. While you will have some extra money to live comfortably, you do not want to waste it all on frivolous things. In this situation, it helps to budget based on percentages of your income instead of total dollar figures.

For example, instead of saving $1000 a month toward your retirement, save a certain percentage of your total income toward your retirement. This will help you keep everything proportionate, you will just be playing with larger numbers. This will help you ensure that you always have enough money to live comfortably.

2. Investments

When you are wealthy you will notice that there are many more opportunities for you to make money. The old saying," it takes money to make money," is true. Therefore, you should take advantage of this opportunity and use a portion of your income to create even more and income yourself. The more money that you can make from your investments, the more time this frees up from your responsibilities. When you can make enough to live comfortably off of your investments, you will be able to enjoy yourself that much more.

Decide on a percentage of your income that you will devote investments each month. Do your research, and make sure that you are only investing in solid investments. Although you have more money than the average person, it does not mean that you should be a lot more risky with your money. Your goal should be to maintain your wealth and create a residual income for you and your family.

3. Beware "Golden Handcuffs"

When some people become independently wealthy, they feel like they are still poor. This is unfortunate and it makes quite a few people miserable. If you are comfortably wealthy, you need to make sure that you enjoy every moment of it. Do not just sit on your wealth and leave it in a savings account for the duration of your life. While you want to save some of it, enjoying your money is important as well. Devote a certain percentage of your income to entertainment and anything that you enjoy. Take advantage of your wealth by traveling, helping others, and realize that you are comfortably wealthy.

Everyone works hard with the goal of becoming wealthy someday. If you have already reached that plateau, then you need to make sure that you do not waste the experience. Those that sit on their money tend to lose it faster than others. Save some, invest some, and devote part of your money to being spent.

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