In today’s world, there seems to be a very diverse crowd of younger Gen Y folks who are consumed with what they consider legit in terms of lifestyle and I thought to myself that this would make a great argument to discuss here on Secret Entourage. Everyone these days seems to be consumed by the basics of what lifestyle is about and perhaps forgets to really look at the bigger picture of what makes life really legit. One of the main reasons Secret Entourage was created was to help those individuals that waste all day talking about their dreams and goals and never do anything about it to become more legit by acting rather than talking.
So today we deep dive into what makes someone really legit and the lifestyle that goes along with the title.
We asked 3 different people that we ran into that night what they considered legit, and decided to break it down for them as to the reality behind what they consider legit and what it really takes to get there, rather than dream on.
“A hot exotic is legit, especially parked in front of the club”
An exotic car on average costs about $120,000 on the used market. If you were to finance such a car and didn’t have the means to own one outright, then you would be paying $2500 a month with $15K down. In addition to taxes and insurance, you would be looking at $3200-$3500 a month. If you were working in Corporate America and made $60,000 a year, your entire salary after taxes would go to the price of owning one car, not even including the actual cost of maintenance or repairs. You would have to earn upwards of $200,000 and be single to justify a wise purchase of an exotic car. Think about how many people you know personally making more than $200,000 a year under the age of 30.
“$1 million dollar mansion is legit”
The mortgage on a $1 million dollar property including escrows is $6500 a month with 10% down. To sustain such a legit home in terms of power, furniture, and other needed expenditures around the home, you would need to net well over $250,000 per year, at which point ” the legit car” would not be included in the lifestyle you were seeking. Add the wonderful normal cars and exotics you desire and you now need close to $500,000 per year to satisfy this urge.
” Not having to work is legit”
It indeed is the lifestyle that most desire in the world, not working can be great is it is by choice and indeed considered legit, but how can you get there, and maintain this $500,000 million dollar lifestyle each and every year? Do you know that it would take 15 years of great decisions, great leadership and sacrifice to attain a corporate salary of $500,000 a year. It would the mean that you would have to live normal for 20 years and save your money to be able to retire early on in life and enjoy those rewards. You get your masters at the age of 24, you work 15 years, that makes you 39 and add 5 final years of savings and you have a 44 year old millionaire who is retired. Not so bad but not so legit.
This is the society we live in, and this is the reality that you will have to face one day or another. The earlier you realize that the lifestyle you seek is not cheap and that fortunes that you consider to be “legit” are not made overnight, the quicker you will actually start working on your own way to become “legit” and not so much in people’s shadows. Get educated, get motivated and be part of the reality, not the cloud of smoke that most find themselves running circles in.