2. Location

Geographic location is a key aspect of your lifestyle choices. Do you dream of living in a certain place? If so, how does location compare to your work when you go to prioritize? They might align perfectly — or they might not. 

Remember, you can have anything, but not necessarily everything. If you know you want to live in a certain city or country, that may affect your job prospects, housing costs, property tax rates, and other tax rates (see this breakdown of the states with the lowest total tax burden). The cheapest places to live in the US don’t necessarily offer the best jobs in your field. Even so, Generation Z and millennials worry about real estate prices, and many have moved out of the priciest cities.

On the contrary, if you have no idea where you want to settle down or if you ever want to settle down in a specific location, consider careers that allow more flexibility. Most individuals live where their job is located, but some choose to work remotely, giving them unlimited opportunities to choose where they want to live.

3. Work Schedule

What do you want your day-to-day schedule to look like? Do you want to work five days a week? Do you want to work during the conventional 9-5 work day, or are you okay with working at any time or night?

Consider the example above. If you want to become an ER doctor, you give up some control over your hours. However, an artist could work from 11 p.m. to 4 a.m. if that is when they produce their best work. 

Telecommute jobs and 1099 gigs often offer some schedule flexibility. But you sacrifice other perks, such as the camaraderie of the office and sometimes other benefits like health insurance or employer-sponsored retirement accounts.

4. Family and Social Life

When creating your lifestyle design, decide if you want a partner and children. Starting a family will impact your schedule, career, and location. While starting a family may not be a priority now, consider if you want that in the future before you pack up and move halfway across the world. 

Friends and social life are other things to consider as well. Are you willing to leave your social life and start a new one? Again, different ages, different stages. Your feelings may differ over time, and that is okay!

Lifestyle Design in Different Life Stages

Lifestyle design changes as we move through different life stages, and understanding these stages can help us plan for the future.

Young Adult (20s)

The twenties are the best time for self-discovery. Young adults should focus on building a foundation for their future – it could be through education or different experiences. It’s a great time to experiment with different career paths.

Arguably, financial literacy is the most important in this phase – read financial books, learn how to budget, save for personal or emergency funds, and learn investments. New experiences, like traveling to a new place, can help personal growth.

This is also an ideal time to establish healthy habits for both physical and mental health.

Established Professional (30s)

Career advancement often takes center stage at this stage. Many Americans are settling into a chosen career path and looking to climb the professional ladder. However, work-life balance also becomes increasingly important, especially for those starting families.

Long-term financial planning, including saving for major purchases like a home and beginning to seriously save for retirement, should be prioritized. Health investments have become more critical – regular check-ups and an active lifestyle have also reached the top of the priority list.

Personal relationships, whether romantic partnerships or friendships, may become more selective. This is often a time of increased responsibility at work and in personal life, so time management skills should be mastered at this stage.

Midlife (40s-50s)

For many people, midlife brings a period of reflection. Some have reached the peak of their chosen career – possibly holding leadership positions with heavier responsibilities.

However, family life may be at its most demanding. You’d experience the back-to-back challenges of raising children and caring for aging parents – especially for those without siblings.

Health concerns may become more important as years pass, so maintaining good mental and physical practices becomes critical. Along with these changes, financial focus often shifts towards retirement savings and planning for children’s education.

But even with these bigger responsibilities, it can also be a time of personal reinvention – some even started a business or pursued long-held dreams.

Pre-Retirement (Late 50s-60s)

As retirement age approaches, financial planning becomes more important – maximizing savings, retirement contributions, paying off debts, and possibly downsizing to reduce expenses. And, of course, let’s not forget that health management is of new importance. You’ll now focus on preventative care and maintaining mobility.

However, many in this stage find renewed interest in hobbies or passions that were set aside during busy years. Taking on mentorship roles can provide a sense of purpose during this process. 

Also, work relationships may change, and social connections should be nurtured as they become more important for well-being in later years. This is also a time to start planning for an active and fulfilling retirement.

Retirement (65+)

Retirement offers a new phase of life focused on personal fulfillment. As this chapter begins, financial management shifts from accumulation to distribution – careful budgeting and possibly the assistance of financial advisors become crucial.

Also, health becomes a top priority, with a focus on active aging through regular exercise, proper diet, cognitive stimulation, and social engagement.

With newfound time and, of course, money, this is an opportunity to pursue long-held interests or hobbies. Many retirees find great satisfaction in volunteering, as it lets them contribute to their communities and gives them a sense of purpose.

In addition, local or international traveling can give new experiences and perspectives in this stage of life.

On a personal level, intergenerational relationships, particularly with grandchildren, can be deeply rewarding. However, staying socially connected beyond family is important to combat isolation – potentially through community groups or religious organizations.

Lifestyle Design and Budgeting

Ultimately, the way you live depends heavily on your income. Money shapes every life decision we make in some form. When creating a lifestyle design for yourself, you must inherently plan a budget. 

It may seem like just another thing to add to your “to-do” list. However, if you hate crunching numbers every month and dealing with the math aspect of budgeting, lifestyle design is the perfect alternative. 

Financial and Frugality Tips

Whether we like it or not, finances are the cornerstone of true lifestyle freedom. Here are some of the most basic financial and frugality tips – yet quite effective – that you can apply to further improve your lifestyle design.

• • Track expenses meticulously – Know where every dollar goes to spot wasteful spending.
  • Create and stick to a budget – Give each dollar a job and stay disciplined.
  • Live below your means – Resist lifestyle inflation, even as your income grows.
  • Maximize savings rate – If you haven’t invested in anything yet, aim to save at least half your income for faster financial freedom.
  • Invest in low-cost index funds – Harness the power of the market without high fees.
  • Minimize or eliminate debt – Tackle high-interest debt first to stop bleeding money.
  • Develop multiple income streams – Don’t put all your eggs in one basket. Diversify your income. A single stream of income is one step away from being broke.
  • Learn to cook and eat at home – I’m not joking when I say you can save big bucks by skipping restaurants and takeout.
  • Use the library and free community resources – Why buy when you can borrow or access for free?
  • Practice mindful consumption – Buy only what truly adds value to your life, not just stuff.
  • Get rid of unnecessary subscriptions – We live in a digital world, and there are certain subscriptions we can’t live without. However, get rid of the ones that add to your unnecessary expenses. 

Remember, the journey to financial independence is a marathon, not a sprint, but each step you take brings you closer to your goal.

Where Do You Start?

Make a plan. What are your priorities? What are the key aspects of your life are the most important to you? Start simple and expand from there.

Step 1: Set Your Top Priorities

Print out a pen and paper and write down your dream life. You will start to think about your top priorities and what matters most. Consider these questions:

• • Would you move if there were no limitations? If so, where?
  • How important is your work? Are you willing to change careers?
  • Do you want to marry or have a long-term partner?
  • Do you want children?
  • At what age would you like to retire? (You do control this yourself — read up on the FIRE lifestyle and its many benefits in addition to retiring early.)
  • How much time would you like to have each week for yourself?
  • How important is income to you?

Set your priorities before you go out and start sculpting your life rather than after!

Step 2: Map Your 5-Year Plan

Once you know where to end up, you can plan how to get there. 

Start with a five-year plan to create your ideal life, beginning with your top three priorities. If living in a different country or city is your top priority, start thinking about how you can work remotely or from a different location. But if family is your top priority, consider where and how you can best support them.

Or, if financial independence is of the utmost importance to you, start by paying off unsecured debts through a structured strategy like the debt snowball method. Look for ways to make some extra cash. Build up your emergency fund. It will likely take over five years to achieve financial independence and optionally retire early, but you can still start living your perfect working life. 

Once you put a plan in place for your top priorities, the rest starts to fall into place naturally. Don’t try to overwhelm yourself, and plan out every day for the rest of your life because, trust me, it won’t happen the way you envision.

Step 3: Make Progress Every Month Toward Your Perfect Life

All the planning in the world is meaningless if you don’t take action. 

Base every decision on your priorities. Make a conscious effort to look at the big picture with everyday decisions. If it is your top priority to pay off debt and reach financial independence, intentionally make the decision to live frugally every day. Learn how to score free housing through house hacking. Start learning how to invest and build passive income and perhaps how to buy your first rental property. 

It is easy to think about everything you want in life and envision what you want for yourself. The hard part is implementing it: living intentionally every single day. Your life will not change overnight, but you can actively plan and pursue how you want to live through lifestyle design.

Final Thoughts

Life comes with tradeoffs and sacrifices. 

You can have anything you want in life, but not everything. You can move to your dream city but may have to change careers or work odd hours. 

You’re already making tradeoffs and sacrifices. The question is whether you’re sacrificing the “great” in exchange for the “good” or even just the “comfortable” and “safe.” 

Stop drifting on the current of life and start steering your own ship. You’d be surprised how quickly you can create your perfect life when you are intentional about every decision.♦

What does your ideal life look like? How are you working toward it? What obstacles lie in your way? 

More Help for Intentional Living & Lifestyle Design: