Why Wealth Is Important

Life by Design

In this episode, Jessilyn and Brian Persson delve into why wealth truly matters, going beyond the common reasons like financial security, stability, reducing stress, and preparing for retirement. They highlight three deeper, often overlooked reasons for the importance of wealth:

1. Wealth enhances relationships by alleviating financial stress and fostering better communication.
2. Wealth offers freedom and flexibility in career choices, allowing couples to pursue their passions.
3. Wealth enables the building and leaving of a legacy, shaping family impact and contributions to community and charity.

Their "Riches, Relationships, and Real Estate" program is designed to align couples' relationship dynamics with wealth-building goals, emphasizing how financial well-being strengthens relationships, unlocks new opportunities, and creates lasting family legacies. Jessilyn and Brian's coaching guides couples through these transformative insights, offering practical strategies for reaching their wealth goals. Tune in to hear their expert take.

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Contact Jessilyn and Brian Persson | Discover Life By Design:

• Website: DiscoverLifeByDesign.ca
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• Facebook: Discover Life By Design
• Linkedin: Discover Life By Design

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Transcript

Jessilyn Persson: [00:00:10] Welcome to the Life by Design podcast with your hosts Jessilyn and Brian Persson. We support couples in achieving their wealth goals by sharing our journey of overcoming barriers to build our financial empire.

Brian Persson: [00:00:21] With our extensive personal experience and increasing demand from couples seeking alignment to invest confidently in real estate, we created the Riches, Relationships and Real Estate program to help you achieve your goals.

Jessilyn Persson: [00:00:33] Today's topic is why wealth is important. There are numerous reasons to be wealthy, and we're going to talk about some of the more common ones before we dig into the gold. First and foremost, I think we hear a lot that financial security and stability, so if you're wealthy, you have that. And that's a big one. I know for me, you know, being raised without much money in our family, I watched how much we struggled and worked really hard for a lot of the things we had. So financial security was a big one for me. I knew I didn't, when I was a young teenager, I decided right then and there I was not having kids unless I could afford to have them.

Brian Persson: [00:01:12] News to me.

Jessilyn Persson: [00:01:13] Yeah.

Brian Persson: [00:01:15] First I've heard of that.

Jessilyn Persson: [00:01:16] Hence why I had a career before, like a really good career before I even met you. But no, I just remember watching my parents fight. And the only thing I recall them really ever fighting about was money.

Brian Persson: [00:01:25] Yeah.

Jessilyn Persson: [00:01:25] And so one day, I watched them fighting and I said, no, like, I, this isn't a lifestyle I want. I'm not having kids and raising kids that are going to just watch me fight with my partner over money.

Brian Persson: [00:01:36] I had some of that too. My comfort level in growing up was probably a little bit higher than yours, but I remember around the time I was 18, just at the end of high school, my dad had gone through a series of like bad jobs and people were screwing him over. And I mean, the level of arguments in our family went skyrocketing up during that period. It was night and day from probably the two years before to the two years after my dad finally landed a good job. So I mean, it can happen fast. Those, the arguments in your relationship and that financial stability when it goes away, literally pulls the carpet out from under you.

Jessilyn Persson: [00:02:18] Yeah, I mean, rolling into that one, having wealth reduces stress and anxiety. That's a big kicker. You know, when you're stressed out about not having a job or not having a good job, I mean, you're dealing with not having a good job, which in and of itself can be extremely stressful, but wanting to leave and not having the ability to leave, or not making as much money, or having downtime between gigs and not having the money. When you're supporting a family, you know your family of five, we were a family of five as well, that's expensive. And between spouses and partners, I mean, that's going to be the main conversation because you talk about what you're stressed, or you fight about what you're stressed. And if it was money and jobs, that's where it's coming from.

Brian Persson: [00:02:58] You listening to this podcast might be in that boat. You might be in a job where you think you can't leave because you don't know what your financial future will look like if you leave that job. And that's just another stress on top of the stress already that you're perhaps experiencing from your job. I can't, you and I can't imagine that anymore. Like, I, we've kind of, we've chose our hard as we like to say. We chose the hard of working to get wealthy so that we don't have to experience that stress and choose the hard of experiencing the stress and not doing anything about it.

Jessilyn Persson: [00:03:37] Yeah, I remember one time in one of my contracts when it was super stressful, super stressful contract and they wanted to renew, and I was at a space where I was like, okay, I'll consider renewing, but you're increasing my rate. And I remember having that conversation with you because it was uncomfortable, because it was like, okay, I need to, if I'm going to stand so firm in the increase for the rate, you said, you need to be willing to walk away if they don't want to give it to you. Are you willing to do that? And I was like, you know, my chest just went tight. And I'm like, then I came to peace with it. I'm like, all right, let's do this. And I went in and I asked for it and I got it. But it was stressful leading into that. But there was a calm on the other side knowing that, okay, if I didn't get it, I was willing to walk away and I would find something else. But we were financially in a position that I could do that.

Brian Persson: [00:04:29] Right. But let me ask you a question. If you did not have that safety net of wealth and financial stability, what would your decision have been in that same position?

Jessilyn Persson: [00:04:40] I either wouldn't have been as adamant about the raise I wanted or just accepted what they gave me.

Brian Persson: [00:04:46] Just to make money?

Jessilyn Persson: [00:04:48] Yep.

Brian Persson: [00:04:48] Yeah. Instead, you had that safety net. You could take the leap. And if you missed, you landed somewhere, right? You didn't pancake onto the ground. So it's huge.

Je...