Date Your Wife What’s Obstructing Your View? | Date Your Wife | EP 098
*Encore presentation from May of 2019* The conversation about the game of money is this week’s topic of the Date Your Wife podcast, a topic which proves to be a spicy one for married co-hosts Garrett J and Danielle K White.
Every week married couple Danielle and Garrett J White share insights and perspectives from within their own lives regarding the following topics discussed each month: Week 1: Sex Week 2: Money Week 3: Parenting Week 4: Communication In This Week’s Podcast…MONEY Point #1: Saving & Investing- As Danielle steps back and looks at their amazing businesses and lifestyle, she is curious if there is a way to start putting more money into other areas, like savings, in addition to life insurance. She wonders if she is ignoring signs from their past mistakes, knowing that their current lifestyle is more abundant than ever before.
- Garrett: My wife has pushed for our life to rise over and over again. At this point, we save more money than we’ve ever saved in our whole lives. I’ve also gone from only investing in the business to investing in the family.
How are you doing in the area of savings? How long would you be able to sustain your lifestyle if the money stopped coming in tomorrow?
Point #2: Obsession- The challenge inside of marriage when it comes to the topic of money is this: making money, growing money, keeping money, and leveraging money. Seventeen years ago, after reading the book, ‘Rich Dad, Poor Dad,’ Garrett realized for the first time that he could make money and became obsessed with it.
- He went back and forth between the hustle mode of making money and the phase of growing money as he built teams and processes, which led him to the game of keeping money. Over the past several years, he has invested and put strategies into place, which have benefited them in massive ways inside of their bank accounts and savings vaults.
Where are you as a couple when it comes to making & keeping money?
Point #3: Building a Legacy
- Danielle: We live an amazing lifestyle. I’m at the point where I want to be able to build a legacy, an empire. If we stopped working ten years from now, I want to know that we could still live our amazing lifestyle for years to come plus help our children if we needed to.
- My parents live well, but they can’t stop working. My dad is 69 and is still building custom homes because they have to continue working to maintain their lifestyle. I look at our parents and don’t want to live like either of them.
What do you ultimately desire?
Point #4: A Team Effort
- Danielle: Ladies, money is a tough conversation. Whether you’re a woman who can take care of herself, or you’re the Mom CEO of the family, it’s nice to have a guy that takes care of you.
- I also want to be a part of this team effort and part of the decisions. I don’t want to sit on the sidelines and be naive about what’s going on.
How do you handle money decisions in your relationship?
Point #5: Maintain or Increase?- Garrett to Danielle: Would you be willing to maintain our current lifestyle even though our businesses are increasing in revenue? We would maintain our current game, and everything else would go pure cash with no expense increase whatsoever in our personal lifestyle over the next five years.
- We would not change homes or cars, and we would keep the same game. We would put all the money away that you want to put away without having to up the standard, meaning… two bags, not nine.
What are you willing to do in order to be able to put money away?
Communication Challenge:Have some conversations with your spouse about the game of money: making, growing, keeping, and leveraging money.
Date Night Topic:If the money were to suddenly stop coming in, how long would you be able to live your current lifestyle without changing anything?
Quote of the Week:“This podcast isn’t about having all the answers for you but rather a conversation where we’re in a place of figuring shit out as we go.”
—Garrett J White
“When I’m seventy years old, I want us to be working because we’re passionate about it, and we are choosing to – we have a purpose behind it – not to just pay the fucking bills.”
—Danielle K White