Alex Hormozi: I Spent $312,900 Living Like The 1% (Here's What I Learned)

The video is about Alex Hormozi sharing his experience of spending $312,900 to live like the ultra-wealthy and breaking down the costs of private jets, exotic cars, penthouses, expensive clothes, and fancy restaurants.

This video by Alex Hormozi was published on May 12, 2021.
Video length: 13:31.

In this video, Alex Hormozi talks about what it's like to live as the ultra-wealthy and breaks down the costs of some of the things that people often associate with the 1%, such as private jets, exotic cars, penthouses, expensive clothes, and fancy restaurants.

He shares transparent information about the costs of these things and encourages viewers to not be impressed by money.

He also discusses the importance of understanding what your own dream lifestyle is and how much it would cost to achieve it.

• Alex Hormozi spent $312,900 to live like the ultra-wealthy and shares his experience.
• Private jets cost about $4,000 per hour and it is worth it for some people.
• You can get a really nice car for $1,000 a month and it depends on your preference and budget.
• You can get a really nice place for $5,000 a month in most markets and it is worth it for some people.
• Expensive clothes are some of the cheapest things out there and fancy restaurants cost about $400 for a really nice dinner.
• Living like the 1% costs around $300,000 a year and you should only live like this if it's less than 10% of your income.
• Fancy restaurants are not worth the cost for the food and experience and the best quality often comes from mass-market products.

I Spent $312,900 Living Like The 1% (Here's What I Learned) - YouTube

Introduction

• Alex Hormozi is an entrepreneur, investor, and CEO of Acquisition.com.
• He spent $312,900 to live like the ultra-wealthy and shares his experience.
• He wants to show transparent things so that people can hopefully not be impressed by money.

Private Jets

• Private jets cost about $4,000 per hour.
• If you travel six times a year, it will cost you about $100,000 a year.
• It is not just for super duper millionaires.
• The alternative price for six flights could be $6,000 to $10,000.
• It is expensive for flights, but it is worth it for some people.

Exotic Cars

• You can get a really nice car for $1,000 a month.
• A Rolls-Royce costs about $4,500 a month.
• It costs about $50,000 a year.
• It is worth it for some people.
• It depends on your preference and budget.

I Spent $312,900 Living Like The 1% (Here's What I Learned) - YouTube

Penthouse

• You can get a really nice place for $5,000 a month in most markets.
• A really nice place costs about $10,000 a month.
• It costs about $120,000 a year.
• It depends on your location and preference.
• It is worth it for some people.

Expensive Clothes and Fancy Restaurants

• Expensive clothes are some of the cheapest things out there.
• You can spend about $3,000 a year on clothes.
• Fancy restaurants cost about $400 for a really nice dinner.
• If you go out to date night once a week, it will cost you about $20,000 a year.
• This lifestyle is for the ultra-ultra-ultra wealthy people.

Living Like the 1%

• Living like the 1% costs around $300,000 a year.
• After taxes, you need to make around $500,000 a year to afford this lifestyle.
• Flying private is nice but wildly expensive.
• Exotic cars are not worth the cost.
• Increasing your income is important to afford this lifestyle.

Percentage of Income

• All of this stuff is a very small percentage of the ultra-wealthy's income.
• Don't listen to people who live like this and spend 100% of their income on it.
• You should only live like this if it's less than 10% of your income.
• You should save 90% of your income.

Fancy Restaurants

• Fancy restaurants are not worth the cost for the food and experience.
• The value of fancy restaurants is dressing up.
• The best quality often comes from mass-market products.
• Product testing is important for quality.
• Don't be persuaded by expensive cars and gadgets.

Personal Experience

• Exotic cars are not worth the cost.
• Fancy restaurants are enjoyable but not worth the cost.
• The best quality often comes from mass-market products.
• Increasing your income is important to afford this lifestyle.
• Don't be persuaded by expensive cars and gadgets.

Spending on Luxury

• Cheaper restaurants are better than expensive ones.
• Expensive clothes are not worth it.
• Living in a penthouse is not a good investment.
• Living in a duplex and renting out the other spot is a good investment.
• Ultra-wealthy people do not find most luxury items worth it.

Building Wealth

• Spending less than 10% of what you make is key to building wealth.
• Wealth is a ratio of income to expenses, not a number.
• Decreasing desire increases abundance in life and income to expense ratio.
• The happiness equation is haves over wants.
• Decreasing desire can lead to more abundance and freedom.

Watch the video on YouTube:
I Spent $312,900 Living Like The 1% (Here's What I Learned) - YouTube