@pleonasm - It could be the best job in the world if you have a good employer, but I've heard nightmare stories as well. It would be very difficult to make a name for yourself as a personal chef, since the whole point is to remain behind the scenes rather than advertise a brand, like you would if you were trying to be a celebrity chef. So you wouldn't be in a position to pick and choose who would hire you.
And a lot of people at the top, the kinds who can afford a personal chef, are going to be extremely picky and demanding. If you're working full time you are probably going to be constantly on call and that means you have to be ready to make gourmet food in the middle of the night from scratch. Your time would never be your own.
It would be the kind of job I'd do for a few years in order to network and gain some experience and savings before doing something else.