Wealth vs. Riches: Lessons from My Son on How to Build Emotional & Financial Wealth
“Are we rich Mommy”?
That’s the question my son Alex asked me this summer.
This simple question played over and over in my head for weeks. Little did Alex know that his inquisitive mind led to a deep reflection on my part about what is true wealth. As someone who talks about wealth and finances every day, I thought I had a good handle on what it meant to be rich. But Alex’s curiosity had me rethinking the idea of wealth entirely.
As a mother, I want to teach my kids about financial health vs wealth, but Alex taught me something invaluable about the nuance of richness. His curiosity led me to consider how financial security affects our ability to feel truly rich, and it made me reflect on my own experiences growing up. Let me share a bit about this journey and the lessons I learned from my son along the way.
Lesson 1: Is Financial Wealth the Only Way to Feel Rich?
When Alex asked if we were rich, my initial response focused on financial security. I explained, “We’re doing alright. We have what we need, some of what we want, and we’re able to save for the future.” But after saying this, I realized my answer missed the mark. True wealth isn’t just about money—it includes other essential elements like health, relationships, and time.
Alex followed up with, “Then why don’t we own a Lamborghini?” His question, though humorous, was also insightful. He wasn’t only asking about money; he was curious about the symbols of wealth. While his fascination with luxury cars was adorable, it highlighted how we often equate financial success with material possessions. This moment prompted me to explore the difference between wealth and riches. It’s not just about what you own but also about how you feel.
Many of my clients seek coaching because they feel financially stressed, even if they’re technically stable. They often wonder about the signs of financial wellness and how to build a wealth mindset that extends beyond their net worth. In our discussions, one question frequently arises: How can you feel rich without money? It’s about understanding the nuances of financial health vs. wealth, and realizing that feeling rich involves more than just the numbers in your bank account.
Lesson 2: Is Feeling Rich Easier When You’re Financially Secure?
Reflecting on this conversation with Alex, I began to wonder: Is it easier to say that being rich isn’t about money when you aren’t currently worried about money? For many of us, financial security provides the foundation that allows us to focus on other forms of richness—such as health, relationships, and personal fulfillment. However, when we’re financially fragile, it can be difficult to feel rich in any way, even if we have love and support around us.
I’ve been privileged to hear the perspectives of clients and friends over the years, and their responses often echo a similar sentiment:
- “Our answer is that We are most certainly rich. We have clean water, clear air, a beautiful home, a healthy family and are happy and content most of the time.”
- “I often say aloud, ‘I think we’re the wealthiest people in the world.’ – Especially when pouring a cold drink, listening to morning birdsong from the porch, enjoying a conversation with my husband and our best friends, or filling up my plate with a colorful and delicious dinner.“
- “I would say that We can afford to live a pretty comfortable life with sufficient money to do and have those things and experiences that we love.”
- “When someone implies that I am rich I tell them ‘Absolutely! I am rich in spirit, knowledge, drive, love, and compassion’.”
These reflections led me to think more about the role of money in how we experience richness in life. While it’s wonderful to feel grateful for non-monetary blessings, I believe it’s also crucial to acknowledge that financial security makes it easier to focus on these other aspects.
If life feels financially fragile, it’s tough to feel rich—especially when you’re expending all your energy just to make ends meet. When so much attention goes toward day-to-day survival, there’s little time or energy left to focus on building future wealth.
I know this first hand through my experience with my mom. Let me explain.
Lesson 3: Reflecting on My Mother’s Financial Journey
Growing up, my mom’s relationship with money had a significant impact on our family. She was constantly stressed about finances, and that stress spilled into other parts of her life.
I remember sitting next to her during sports meetings when the coach would outline the season’s costs, and I could see the worry on her face. How would she come up with the money? At times, she wasn’t fully present with us because her mind was preoccupied with the bills due the following week or the car payment looming on the horizon.
This financial anxiety impacted her health, time, and relationships. If our everyday life requires all our energy just to get by, there might not be much left over for investing in wealth-building activities, whether that’s pursuing a career opportunity or fostering deep connections with loved ones. Financial stress affects us in ways that go beyond the numbers, touching our well-being and the quality of our relationships.
The Importance of Financial Security in Building Emotional Wealth
When I shared my memories of financial struggles with Alex, it helped me realize that while feeling rich can be a choice, that choice is often influenced by our level of financial security. It’s possible to feel grateful and abundant even without financial wealth, but maintaining that mindset can be challenging when basic necessities are a daily concern.
For those who live financially fragile lives, it can be hard to escape the mental load of financial insecurity. Constantly needing to solve problems just to make ends meet can drain the energy that might otherwise go toward building a wealthier future. When all our resources go into day-to-day survival, there’s often little left for planning, growth, or focusing on personal aspirations. That’s why in our financial coaching sessions, we go beyond traditional financial strategies to address both financial and emotional well-being. Wealth isn’t just about accumulation; it’s about feeling fulfilled and aligned with your values. One of my clients once shared that after leaving a high-paying job, they had less money but felt richer than ever. They had more time, less stress, and a deeper sense of purpose. This experience highlights that living a rich life doesn’t always mean having more money. Often, it means finding wealth in the things that fulfill us on a deeper level.
Finding True Wealth with a Financial Coach
Reflecting on my conversation with Alex reinforced that wealth vs. riches is not a simple concept. Being rich involves a balance of financial security, emotional well-being, and meaningful relationships. That’s why my role as a financial coach goes beyond typical financial advice. Together, we work on balancing financial wellness with emotional and relational richness, helping clients build lives filled with abundance in every sense.
If you’re curious about how to cultivate emotional wealth and redefine what wealth means to you, consider financial coaching. We can create a personalized plan that aligns your money with your values, helping you achieve a life that feels both financially secure and deeply fulfilling.
Start Building True Wealth with Financial Coaching
Are you ready to discover a life of richness beyond just money? Whether you’re looking for financial freedom tips, exploring financial health vs wealth, or just want to create a balanced, fulfilling life, working with a financial coach can help.
At Fiscal Fitness Phoenix, we help you redefine wealth on your terms. Our coaching sessions are designed to explore what matters most to you and align your financial decisions with your deepest values. Find financial peace, build emotional wealth, and live the rich life you’ve always dreamed of. Reach out today, and let’s get started on your journey to true wealth.
