Episode 396: Visible Wealth vs Invisible Wealth & Redefining What it Means To Be Rich

Journey To Launch

Jamila Souffrant

Finances, Business, Realestateinvesting, Entrepreneurship, Earlyretirement, Investing, Budgeting, Wealth

5 • 1.7K Ratings

🗓️ 16 October 2024

⏱️ 32 minutes

🔗️ Recording | iTunes | RSS

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Summary

In this week’s solo episode of the Journey to Launch Podcast, I explore the concept of wealth and what it means to be truly rich. While wealth is often defined by an abundance of money or material possessions, I discuss the distinction between "visible wealth" (like possessions) and "invisible wealth" (such as financial security, time freedom, and health). I also emphasize the importance of avoiding comparisons to others, especially in affluent environments, and instead focusing on your own financial journey.

In this episode I share:

How exploring middle school options for my oldest son has me questioning the true value of wealth and financial freedom
Why you should reflect on how you view wealth and financial freedom in your own life.
How different people may perceive wealth and how it can lead to misperceptions about one's financial status.
Why it’s crucial to appreciate the wealth you already have, without seeking external validation.
How to find value in the invisible wealth that people cannot see, such as being healthy, having strong relationships, having savings, and being able to pay bills on time.
The importance of being honest with oneself about why one makes certain financial decisions + more.

Transcript

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0:00.0	And so it's important that as we focus on our own financial journeys and lives, that we stay rooted in this idea of being secure with wherever we are and to not compare ourselves.
0:17.0	This idea of wealth understanding like if you are in an environment where people are valuing things differently than you, because
0:24.4	now you know differently, maybe you know that while having the car and the watch or these things
0:30.8	would be really nice, it would feel nice,
0:32.8	that there's other things you need to do with that money instead.
0:35.6	T-minous 10 seconds.
0:37.6	Welcome to the Journey to Launch Podcast,
0:40.6	with your
0:43.7	who wants her top.
0:45.1	She helps brave journeys like you, get out of debt,
0:48.5	save, invest, and build real well.
0:52.4	Join her on the journey to Journey to
1:08.6	launch.com or click the description of wherever you're listening to this episode.
1:13.7	In the show notes, you'll get the transcribed version of the conversation,
1:18.3	the links that we mentioned, and so much more.
1:21.2	Also, whether you are an OG journeyer or brand new to the podcast, I've created a free
1:26.4	jumpstart guide to help you on your financial freedom journey. It includes the top episodes
1:31.6	to listen to, stages to go through to reach financial freedom,
1:35.2	resources and so much more.
1:37.1	You can go to Journeyto Launch.com slash Jump Start to get your guide right now.
1:42.5	Okay, let's hop into the episode.
1:47.0	Hey, hey, journeyers.
	...

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