The term 'luxurious life' is grammatically correct and it can be used in written English.
For example, one might write, "She had always dreamed of living a luxurious life filled with wealth and extravagance."
"When asked what he did with the money, he said he spent it on travelling and a luxurious life, like flying first class and staying in luxury places," immigration police chief Pharnu Kerdlarpphon told reporters.
I don't live a luxurious life.
It blooms with tantalising, luxurious life.
He no longer takes genuine pleasure in his luxurious life.
Defectors also talked to the F.B.I. about Miscavige's luxurious life style.
Alison had married a rich man & retired to a luxurious life in the country.
"They want a luxurious life because their son is a former minister.
We wanted justice and fairness: there are Alawites living a luxurious life while we are struggling to survive.
His earlier poems reflect the gay and luxurious life at his court, though some are tinged with romantic melancholy.
Highgate Village is a place where the leading of a calm, serene and quietly luxurious life has been perfected.
So lavish, its extravagance conveying more than a sense of romance or the idea of a luxurious life inside a welcoming apartment.
