My dad used to tell me that my family would go on a road trip as a child. He would let us stay in the car and check us into a motel while we checked in. To save money, my dad would book a room in a motel with two single beds for a family of six. Once he had the key, he would let us in quietly, and we would avoid the lobby.

My dad would "make the phone call" when we got up.

He would reply, "Hi, this room is 324." "Could we have some towels for our room?"

"Yes, sir. "Yes, sir. 1? 2?"

"How about four? It would be wonderful if you could send 2 cots.

"Sir this room is only available for double occupancy. We can't--

Dad: "Thank you!"

HAHA! This was a common occurrence. It was only later that we realized how absurd it was to fit 6 people in a room. It's not possible to take your family on a vacation without these things (and Ramit sleeping on the couch).

Our family vacations were simple and fun: we took road trips to see our family in LA. That was it!

Now fast forward to 30 years. Cass, my wife, and I travel to Mexico every year and stay in one of our favorite hotels. It was an unforgettable experience.

We were there and said, "This would make a great place for us to return to with our friends."So, a few years later we chose a date. I then emailed some friends.

Here's the email:

We want to spend more time together. Here is our plan:

These dates are for Rosewood Mayakoba. We will be there for five days.

My vision is to have 3 meals together and the rest is completely free. You can relax by the pool, work out, or rent a boat. Whatever you like.

I will plan the dinners. You're just here!

-Ramit

Guess what? And guess what? They did!

We enjoyed amazing dinners, shared laughter, and created memories that Cass (and I) will never forget. It was great to be with such good friends.

What are your impressions of these vacations?

When planning vacations, price was a major factor growing up.

For our Mexico trip? It had nothing to do the price. It was built around the important things to us.

• Beautiful places
• Friends, make lasting memories
• Delicious food

These are all part of our Rich life. It was something we wanted to do. The price was an afterthought.

These are just a few of the many items I love and spend a lot on. Here are some of my favorite things:

• Tailored clothing
• My parents deserve special experiences
• Take a trip to beautiful places such as Rosewood Mayakoba

There are many things that I don't spend money on. You won't see me wearing a fancy watch, for example. Why? Because I don't care.

The same applies to cars, sports, organic meats, as well as cars. I am not kidding. Here I am enjoying tacos in the trunk of my 4-door Honda Accord. It's been with me for over 15 years.

These things are not part of my Rich Life. Perhaps they are for some of you. That's okay.

Once you understand the basics and realize that money is not the only factor in your life, you can begin to design your life around what is truly important to you.

You can make your Rich life.

What's a Rich Lifestyle?

What is Rich Life? It is wearing a Rolex, having a china wardrobe, and so on. No!

A Rich Life is your ideal lifestyle. It's where you can look at your personal relationships and finances and the ordinary days of your life and say "Wow!"

This could be:

• Every day, picking up your children from school

• Purchase a $1,000 cashmere sweater

• Whole Foods allows you to buy whatever you like without worrying about the cost

• Take your family to Disney World for an unforgettable vacation they will never forget

Your Rich Life is yours. Yours, not your parents'. Not even mine. Yours.

It is a full life. It's a life lived deliberately, actively, and abundantly.

It's not all about money. IWT views money as a tool to design, enhance, and enjoy the life you want.

What does yours look? You can see the video below to find out more about living a rich life.

Signs that you live a truly rich life

Everybody has a different opinion about how to live your life. It can be hard to determine what a Rich life is.

These Rich Life Rules are the result of that. These Rich Life Rules can be thought of as a compass that will guide you to your true Rich Life.

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RICH LIFE #1:

Your Rich Lifestyle should fit you like a hand-made glove

What does it mean? You might rent or buy, travel for a month or not at all, buy a Tesla or decorate your home beautifully.

Your Rich Life is yours, not mine, or your friends', nor your parents'. There is no judgment.

Your Rich Life requires you to be boldly different.

When money is not your primary constraint, you will be able to create your Rich Life. It will likely be very different from the average person's. Embrace it. This is the fun part!

How it looks: I love Japanese architecture and design. Even photos and samples of the things I love are my collection.

Cass and me traveled to Japan with the intention of visiting the home of a couple from Japan. This is a rare opportunity, so I hired a company to help me arrange it.

Both were architects so we saw their house. After showing them photos I had taken, I explained to them the Japanese design philosophy. It was amazing!

Also, we took a mini-cruise aboard an incredible boat. (See the above photo)

While this trip may not make sense to some, it made a tremendous amount of sense to me.

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RICH LIFE #2:

A Rich Lifestyle puts you in control

It means:Life does not look like a Disney movie. There is no one to save you.

You can control your finances and create your Rich Life exactly how you want.

What it looks Like: I left college to start my own business. I declined a job at Google when I was first offered a position.

Later, I declined VC investment to continue IWT -- which was completely bootstrapped -- so I could retain control. This is part of my Rich life.

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RICH LIFE Rule #3:

It is important to get started before you become an expert

What does it mean?Too many people get overwhelmed believing they can do everything right. What do you think will happen? We do nothing!

This is especially true when designing our Rich Life. It's important to remember that it is possible to create your Rich Life by taking each step one at a time and not worrying about perfection.

This is the 85% Solution. I would rather do something than act to get it 85% right. It's better to get 85% than 0%.

This is true for money as well. When your money system is 85% complete, you can move on with your life to pursue the things that are most important to you.

How it looks: I keep it simple:

• I have a simple portfolio of investments.
• I have a few credit card accounts.
• I have a simple exercise program.

It's much easier to start and to continue if you keep it simple. It also leaves you with more time to do the things that you love.

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RICH LIFE Rule #4:

You can make mistakes

What does it mean? The path to a Rich Life doesn't always go smoothly.

There will be money and relationship mistakes. You may even make a change in your vision of a Rich Life. That's perfectly okay.

Learn from your mistakes and make them early, when they are less costly.

How it looks: I made mistakes early in my career by investing in individual stocks. You'll see why this is a bad idea if you read Chapter 7 in my book.

In my business, I have hired the wrong people. I haven’t managed well. I have made poor strategic decisions.

It's all normal!

Even my email account has a folder for failures. If I don't send 5-7 failures per month, it's a sign that I'm not trying hard enough. If I don't try enough, I'm probably not learning enough.

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RICH LIFE #5:

You can play offense but not defense

What does it mean? Too many people play defense with their finances.

• We wait to the end of each month and then we look at our spending.
• We will accept any fees.
• We are not able to question complex advice if it is given in a language that we do not understand.

This is a bad idea. Don't be defensive about your bank accounts, credit cards, investments, or even your money psychology.

How it looks: First, I covered the basics using my money.

• Automated saving
• Automated investing
• The basics, such as save and invest 20% of your gross income, are the guidelines

This topic is covered in Chapters 4 & 5 of my book.

Second, I took the offensive for my Rich Life vision. This meant that I set aside money for specific goals.

One of our goals is to hold a 10-year-old Indian wedding anniversary celebration. We know where it is and who we will be bringing. Every month, we consciously save for this.

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RICH LIFE #6:

Living a rich life Doesn't mean you have to wait to retire.

What does it mean? Your Rich Life doesn’t have to wait until your 65th birthday. It's possible to live it right away.

Be specific. How could you live a rich, everyday life? It could be...

• For Halloween, hand out full-size candy bars for kids
• Grocery shopping without taking into consideration the price
• A $100,000 car you love every time it is parked
• You can spontaneously extend your vacation by one day
• Buy popcorn at the movies

A Rich Life means to live today and every day thereafter. It is not a good idea to put off joy for a distant future. Nobody wants to live a savage 95-year-old life filled with regrets.

How it looks: My wife and I take 4-6 weeks vacations at each end of the year.

We also enjoy the pleasures of traveling. However, we make time to read, relax, and set our goals for next year.

I will order both if I cannot decide what dish I prefer at a restaurant. It makes me happy to be able say "yes" and try both.

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RICH LIFE #7:

The Big Wins

What does it mean? If you get the big wins in life, you don't have to worry too much about the little things.

Learning how to negotiate your salary is one example. Big Win. Modifying your resume's formatting? It's the smallest things.

Focusing on the 5-10 big wins, instead of 50 small things, can give you an unbeatable advantage in your life.

It looks like this: Reduce your caffeine intake! Stock market prices are too high Your resume should be in 11.5 font.

Instead, think about the Big Wins such as:

• Start investing now
• Your Dream Job
• Side hustle and make money
• Credit improvement
• Reduce costs on things that you don't care.

These are the things that will make you stand out from 99 percent of others. You can also order as many lattes you like.

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RICH LIFE #8:

Rich life is rich

What does it mean? The truly wealthy have enough to give back. Living a Rich Life means you are able to give back your time, money, and talents to the world.

How it looks: I give heavily to causes that I care about.

I love to tip large. I donate to fundraisers of friends. Being generous is an essential part of a rich life. Note: This does not just refer to donations. Volunteering is an excellent way to give back!

Build YOUR Rich Life

You must have a vision to live your rich life. What is it like? What will it look like? What will you do?

To help you achieve this, I have created a new mini-course How to Create Your Rich Life.

You'll be able to create a vivid picture about your Rich Life in just one hour. This will allow you to live intentionally by focusing on what you love and not worrying about the things that don't.

You'll also learn:

• What is a Rich Life?
• How to map your Rich life.
• How to increase your happiness

Your vision will guide you for the rest of your lives after you are done.