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The Rachel Cruze Show

The Hidden Financial Challenges Wealthy Parents Face

The Rachel Cruze Show

Ramsey Network

Education, Investing, Business, Self-improvement

4.83.6K Ratings

🗓️ 14 May 2025

⏱️ 11 minutes

🧾️ Download transcript

Summary

📈 Are you on track with the Baby Steps? Get a free personalized plan. There’s one money struggle almost all wealthy families can relate to. In this episode, you’ll learn what this unexpected challenge is, plus five ways to raise financially wise kids. Next Steps: 🎥 Watch my video What Everybody Gets Wrong About Generational Wealth. 📔 Pick up a copy of my kids book I'm Glad for What I Have. 💵 The simplest way to budget. Download the EveryDollar app for free! Connect With Our Sponsors:   🏥 Learn more about Christian Healthcare Ministries. 🔒 Get 20% off when you join DeleteMe. Explore More From Ramsey Network: 🍸 Smart Money Happy Hour 🎙️ The Ramsey Show   💸 The Ramsey Show Highlights 🧠 The Dr. John Delony Show 💰 George Kamel 🪑 Front Row Seat with Ken Coleman  📈 EntreLeadership   Ramsey Solutions Privacy Policy Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

So when you hear people say, like, well, rich people have struggles too, sometimes there's

0:10.8

like an immediate eye roll, which I totally get. We're like, they're fine. They're fine. But listen,

0:17.6

just stick around and hear me out because today I want to talk about the hidden

0:21.3

money challenges that wealthy families face.

0:24.6

And some of you might fall into this category without even realizing it.

0:28.1

But first, make sure to like, subscribe, and share this video with a friend.

0:32.2

All right, a lot of millennials and Gen Xers are raising kids that have more access to financial security than they did growing up.

0:40.4

And what can happen is there can be some tricky things within that. So just to clarify,

0:44.7

I'm not saying baby step seveners out there have the same level of like financial hardship as

0:50.0

people that are working three jobs to get out of debt, right? Like there's a season of sacrifice

0:53.6

when you are living paycheck to paycheck and you're trying to get out of debt, right? Like there's a season of sacrifice when you are living paycheck to paycheck and you're trying

0:56.3

to get out of debt.

0:57.4

You're trying to just build up an emergency fund in general, like all of that.

1:00.5

Like that is hard grinding work for sure.

1:04.4

But here's the thing with money is money continues just to be a tool in our life.

1:09.5

But as our life continues to change season after season,

1:12.4

there are going to be things in our lives that we bump up against that are a hardship. So whether

1:16.8

it is working extra jobs and it's like you're exhausted and tired and miserable. And then some other

1:22.2

times, you know, you talk to people and they are building wealth, but their marriages are falling

1:25.7

apart. Right. So like any, no one is immune to hardship in life, regardless of how much money you have

1:31.5

or how much money you're making.

1:33.4

But listen, if you are in the grind phase, I see ya.

...

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