"Living in the lap of luxury" refers to living an extravagant and comfortable life, without needing to work very hard for their wealth and comfort. They may own multiple homes, expensive cars and other opulence while possessing large reserves in cash or investments.
Maintaining a balance between luxury living and helping others is crucial for some people, so they can feel good about themselves while providing role models to those less affluent than themselves.
Some individuals can balance hard work with luxury living - something which is fantastic, because this helps others while remaining financially stable themselves. This type of life balance is known as living an "extended virtuous cycle".
Lap of luxury is something many dream of and others strive to reach. There are other terms similar to it such as clover, life of ease, milk and honey and paradise - among many more!
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