Knowing how much life experience you need is something only you can answer. Are you able to lead teams, inspire & motivate, organise yourself, work under pressure, solve problems, etc? Going out and participating in extracurricular activities or any jobs alongside your school work and/or your degree life will only help. As MattC123 rightly said, any experience can be used to demonstrate the skillset, so have a look at what you've done with your life so far and see if any experiences could be used to demonstrate good leadership, teamwork, etc.