You don't have to go all Ramsey and live only on MMG (or LTD) levels, assuming retirement savings is on track.

But you need to have a plan to live on MMG, or LTD, if it comes to pass. Ie use your discretionary spending on vacations, eating out, etc. Stuff you quickly can cut back on. Or on toys which can be liquidated if necessary.

McMansions and vacation homes are dangerous, if you need a 90 hours/month to cover it. You might have to sell in a very down market, maybe upside down, and it can take a while.

Part of that planning is psychological... don't want to end up clinically depressed if you lifestyle changes. You need to mentally partition the part above MMG (LTD) as "bonus". Remind yourself every day, that actually helps you appreciate and enjoy it more too.