Summary
In this episode, we explore the concept of generational wealth and the importance of intentional financial parenting. The discussion emphasizes the need to instill financial values, habits, and mindsets in children from an early age. Key topics include raising wealth-minded kids, understanding the difference between assets and liabilities, the balance between legacy and entitlement, and the significance of personal responsibility in financial matters. The conversation culminates in the importance of designing a family wealth blueprint that fosters multi-generational wealth with intention.
Contact Jessilyn and Brian Persson | Weekend Wealth Investments:
Chapters
00:00Raising Wealth-Minded Kids
09:25Legacy vs. Entitlement
19:17Designing a Family Wealth Blueprint
Transcript
Jessilyn Persson (00:00)
Welcome to the Light by Design Podcast, we're Jessilyn and Brian Persson struggling to align your financial goals or confidently invest in real estate as a couple.
Brian Persson (00:18)
That's why we created this podcast and the Riches Relationships and Real Estate program to help you build wealth and strengthen your relationship. Visit weekendwealth.ca to take our quiz and discover your real estate investor type. Let's create the life you deserve together.
Jessilyn Persson (00:35)
Welcome to today's episode where we're diving into a topic that reaches far beyond dollars and cents, generational wealth and intentional financial parenting. This isn't just about passing down assets. It's about passing down mindsets, values, and habits that create empowered, financially capable generations. We'll explore how to raise wealth-minded kids, how to pass on legacy without entitlement, and how to design a family wealth Brooklyn that lasts.
Because true wealth isn't just about what you build. It's about what you build into your family.
And so today we're going to start with raising well-minded kids and stealing financial values early.
Brian Persson (01:21)
Yeah, and I think this is probably the most important part about generational wealth because obviously your kids are the next generation and if they don't understand wealth and they don't understand how to manage it, grow it, keep it, then it is going to disappear very, very quickly.
Jessilyn Persson (01:39)
Yeah, and I know we talk quite openly about money in our house and real estate and investing. So our kids at some level understand all of that. And while we haven't, I think, gone too deeply in some of these things, they definitely know, I believe, the difference between assets, which is our real estate, and we have other investment assets that we haven't talked about, but they definitely know real estate. They know income because they know I work a full-time contract.
And that's the money that's the day to day, pay the bills kind of a thing. And then liabilities, which can be a tricky one depending on age appropriateness of our kiddos, right? But I think we have definitely over time explained, you know, like our vehicle, like, cause you know, they come home and they're like, they're like, well, my friends have like three vehicles and they have toys like quads, skadoos, like all boats. And we're like, great, but those are liabilities.
not exactly assets that we choose to invest in real estate instead of all
