Beyond the 70 Percent Rule

Shanta Lee

We check back in with David and Chloe... David’s sitting at the kitchen table, spreadsheets open, and he’s just recalculated their income after his company went public. Their net income is now—wait for it—over $150,000 a month. He does the math, plugs in the old 70% rule, and suddenly, their “living expenses” target is $105,000 a month. He calls out to Chloe, “Come look at this. There’s no way we need over a hundred grand a month just to live. That’s insane!” And honestly, he’s right. At that level, the old framework starts to feel… well, kind of ridiculous. It’s like, are you supposed to just spend more because you can? Or is that just an invitation for lifestyle creep to sneak in and take over? I’ve seen this before—heck, I’ve lived it with clients. I remember one couple who came to me debating whether they needed a new boat or just a new perspective. When your income jumps to these levels, the standard rules don’t just bend—they break. And that’s when the real work begins. Because now, it’s not about discipline for survival, it’s about intentionality for meaning. You’re not just managing money anymore; you’re managing possibility. And that can be both exhilarating and, honestly, a little terrifying. So, if you’re in this spot—where the old rules don’t fit—welcome. This is where your hard work starts to compound, not just in your bank account, but in your life.

Shanta Lee

Hello, and welcome to the Twogether Money Podcast, a place for high-income couples who wonder where it all went. My name is Shanta, and as a retired financial advisor with a counselling diploma, I'm here to help before it's too late.

Shanta Lee

Now, here’s the thing: just because you’ve “made it” doesn’t mean you get to coast. I mean, you could, but that’s how people end up with a yacht they never use and a life that feels emptier than before. Sustaining wealth—real, lasting wealth—takes ongoing attention. Not the tedious, penny-pinching kind of attention, but the kind that keeps you aligned with who you want to be. Think of it like a garden. You’ve prepped the soil, planted the seeds, and now you’re enjoying the blooms. But you still have to water, weed, and adjust for the seasons. That’s what regular check-ins are for. Life changes—maybe your income jumps, maybe your goals shift, maybe you wake up one day and realize you want something totally different. So, schedule those reviews. Quarterly, annually—whatever works. Revisit your Clarity Snapshot, recalculate your 10% base, and decide, consciously, how to allocate any increases. Don’t just let lifestyle creep gobble it all up. I’ve seen couples like Mike and Jenna do this beautifully. Jenna got a huge promotion and bonus, and instead of running out to buy a new car, they sat down, recalculated their 70/30 numbers, and made intentional choices. More to long-term investments, a little more fun, a sabbatical fund, and yes, a modest bump to living expenses for some home improvements. They even looped in their advisor to talk taxes and update their estate plan. That’s how you keep momentum—by making every new dollar a conscious choice, not an accident.

Shanta Lee

And as your wealth grows, so do the stakes. This is where advanced strategies come in—tax optimization, insurance reviews, estate planning. I know, it sounds dry, but this is the stuff that protects your freedom. Work with your advisor, revisit your investment allocation, make sure your safety net is robust. And if giving back matters to you, start exploring things like donor-advised funds or gifting appreciated assets. The point is, don’t get complacent. Wealth isn’t a finish line; it’s a living, breathing thing that needs your attention.

Shanta Lee

But let’s be real—discipline alone isn’t enough. I’ve seen plenty of disciplined people who still feel lost or anxious about their money. That’s why identity matters. Who are you becoming as your wealth grows? Are you still the Wealth Creator, or have you slipped into autopilot? This is where your tools come in. Keep that Evidence Journal going. Update your Becoming Board. Automate your savings and investments so you’re not relying on willpower. I worked with a couple recently who got a windfall and, at first, they were just overwhelmed. It was like, “What do we even do with this?” We went back to their legacy—what did they want to be remembered for? What kind of impact did they want to have? That shift—from “How do we spend this?” to “Who are we becoming with this?”—that’s where the magic happens. It’s not about being rich. It’s about being wealthy, in every sense of the word.

Shanta Lee

So, how do you make sure your money is actually serving your life, not the other way around? Start with a mission statement. I know, it sounds a little corporate, but trust me—it works. Get clear on your family’s purpose, your values, your vision. Let that guide every financial decision, big or small. And don’t just set it and forget it. Do a quarterly review. Ask yourselves: Are we still on track? Have our goals changed? Is our money still aligned with what matters most? And if you’re feeling called to something bigger, consider philanthropy or impact investing. Giving back isn’t just about writing checks—it’s about creating a legacy that goes beyond your own comfort. That’s how you make your wealth mean something, for you and for the world.

Shanta Lee

And, please, continue to build your team. Trusted advisors, estate attorneys, impact investment specialists—make sure your strategies are as dynamic as your life. Wealth isn’t static, and neither are you. So, keep evolving, keep connecting, and keep showing up for the life you actually want. That’s it for today. Next time, we’ll dig even deeper into building a legacy that lasts. Until then, keep living, keep aligning, and remember: wealth is what you make of it—together.

Shanta Lee

If this resonates with you, and you'd like to learn more, visit my website at TwogetherMoney.com. That's T-W-O gether money, like the number 2. And here's a fun fact: it's the only place where you can purchase my books, so get those fingers moving and I'll see you over there!