In Rich dad and Poor Dad Book Robert Kiyosaki mentioned, Use assets to buy luxuries.To become rich, you’ll need to buy luxuries last. People who buy luxuries first are often in much debt. The aim is to build income-generating assets that can buy luxuries. You can invest your luxury money in Stock market from there you can earn dividends, Per Suppose if you want to earn 1 lakh dividend every year.
We are having calculation for that, you need to calculate it with Below formula,
Money you want per year * (100/dividend yield of stock)
This will give you How much you need to invest, You can check calculations in above Image for some well known stocks with high dividends, similarly you can calculate for your own preferred stocks.
But you might have got the doubt that is it safe to Invest that much money, so First check your needs and fulfill those, and if you have plenty in your hand which can you can use for luxury invest those.
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