Creating the Next Generation of Young Investors with James Fletcher

#052.  Today’s guest is Jeff McLean.  We discuss Jeff’s recently published book “Hedgie’s Bitcoin Story” to help kids learn about money and the evolution of money over time and where it is heading.  We hone in on the concept of value, and how his book makes the connection between value and money for kids.  We discuss bitcoin, what it is, what it represents, and how it is an option and a path to fighting the currency debasement that is happening in our society today.  We also discuss Jeff’ entrepreneurial activities and businesses, the reason why he became an entrepreneur and some of the lessons we can pass along to teach our kids.

Show notes and more at:

https://moneydadpodcast.com/session052

#051.  Today’s guest is Maya Corbic.  We discuss Maya’s most recently published book to help kids learn about investing and why she decided to write it,  We cover the the beauty of compounding and how kids can use the luxury of time to their advantage.  We debunk some investing myths and talk about the most important message for kids about investing.  We learn options that kids have to invest in and how it depends on your risk profile and how we can take advantage of the lazy way of investing to achieve our goals.

We debunk investing jargon, and discuss investing goals we should be teaching our kids, both short and long term.  We cover tips that parents can use to set kids up for financial success, including age appropriate activities you can do with your kids to teach and encourage them to invest.  

And we close with how parents should install the right money mindset in our kids from an early age, including how we should be aware of our money mindset and ensuring we don’t pass on our mindset to them, if it doesn’t serve them.

Show notes and more at:

https://moneydadpodcast.com/session051

#050.  Today’s guest is Brian Page.  We discuss money lessons Brian received during childhood, why he is passionate about teaching personal finance to kids, and challenges he faced as a teacher talking about money in the classroom.  We discuss important money skills we should be emphasizing and how and when to create environments that parents can teach values through money lessons.  We discuss how to create financial incentives and lessons around back to school shopping, helping kids appreciate what they have and the importance of meeting kids where they are in their financial literacy journey. 

We discuss why he founded Modern Husbands and what is his mission with building the Modern Husbands community.  Plus how to effectively have money conversations between spouses, who grew up with different money stories and how to set up systems that make good habits automatic and bad habits harder.

Show notes and more at:

https://moneydadpodcast.com/session050

#049.  Today’s guests are Aziz and Mariyah Kaderbhai.  We discuss their “More To Give” initiative, which they started and  implemented in every part of their business.  They give back not only dollars, but also give back generously with their time.  They have a launched a free program called Beyond Success that delivers financial literacy education, targeting kids in schools that are most in need. 

We talk about their investing journey, how it has evolved while they continue to work full-time, and the importance of building a team.  We share how we have gotten our kids discussing or involved in our real estate.  We talk about their partnership with Canada’s first education bank and the financial literacy workshops they run for them.

Show notes and more at:

https://moneydadpodcast.com/session049

#048.  Today’s guests are Anthony DeGazon and Mark Molder.  We discuss how kids can turn their understanding of how the banking system works and how our money system is broken into a superpower.  We learn about Mark’s path into how he became a teacher and Anthony’s path and niche as a real estate investor.  We delve into the real importance of holding hard assets like real estate, gold or bitcoin to get ahead and avoid falling behind. We discuss what you can do to retain your purchasing power, especially in these times, where inflation is eating away at it.  We discuss their Financial Literacy Course for Teens that they are offering, along with the Mastermind classes.

Show notes and more at:

https://moneydadpodcast.com/session048

#047.  Today’s guest is John Crane. We discuss his journey into the financial services space.  What inspired him to write this book, and how cashflow management is the #1 determinant of long term financial success or failure.  John outlines why traditional budgets fail and the simplicity behind the concept of The One-Number budget.  We dive into how we can use the one-number budget concept to help their kids learn to put aside money for their future self

We discuss the the common mindset of families who are successful in ensuring their children are developing the right financial skills around money, the college conversation you need to prepare for in advance and one of the greatest gifts we can give our kids.  

John outlines what financial vampires are and how to avoid them, how consumer debt gives us the illusion of choice.  And we close with what lifetime cashflow management is and why it is important for people to think about this.

Show notes and more at:

https://moneydadpodcast.com/session047

#046.  Today’s guest is Kristin Keffeler.  Kristin talks about her experiences as the daughter of wealth-creating parents, including her story of receiving a new sports car as a gift from her father, and the confusing feelings she began to experience.  She details who her book is written for, the 4 common hidden tripwires that can really get in the way of people growing up in affluent families and the 4 types of inner and outer clutter that inhibits the ability of the rising generation to grow.  

Kristin discusses the most effective ways to clear away clutter in our lives, including the inner work that must be done plus actionable strategies in bringing awareness to clearing away clutter, most specifically money clutter.  She outlines when wealth can turn from being a benefit to a detriment in our children’s lives, how parents can build valuable character traits in their children and develop their skills around grit and growth mindset, and how to parent based on values and based on a family culture parents are trying to create.  

 We close with tangible and actionable tips that parents can integrate into their interactions with their kids to develop those traits and why celebrating the journey and effort from your kids is important, rather than results.

Show notes and more at:

https://moneydadpodcast.com/session046

#045.  Today’s guest is Will Hoffman.  Will talks about his journey as a financial advisor.  How he developed his passion for helping clients make money and financial info make sense.  He details why it is important to work with an independent financial advisor.  Will gets into the best ways to prepare Next Gen to be stewards of family wealth, and the importance of talking to your kids about the mistakes you have made.

Will covers best practices on clients’ who are doing a great job of preparing their kids to take over the wealth and how our financial habits influence the habits develop and change the trajectory of your life.  We get into the experience he gained when his grandfather passed away, why it is important to involve your kids, and why it ultimately made him a better financial advisor.

Will also breaks down the unique challenges that Gen Xers face as the sandwich generation. 

Show notes and more at:

https://moneydadpodcast.com/session045

#044.  Today’s guest is Jay Gabrani.  Jay talks about his ups and downs as it related to his journey around real estate investing.  We talk about the heartbreak of the loss of his wife, and how his real estate portfolio provided him a buffer to get through that tragedy.  Jay shares some strategies on what fathers, and really, any parents should be doing to help secure their family’s financial future.  We also dive into key money skills that we should be teaching our children and why it is so important.  Jay uses the analogy of comparing money to railroad tracks - one track is the income track, while the other track is the wealth track, and that we need to be teaching our kids that everyday, they should be operating on both sides of that track.  

Jay has 3 kids, all in the teenage years.  So we get into practical strategies on how we can help our kids and teens become financially responsible adults.  And Jay shares some really great tips on teaching our kids about making and investing money.  

Show notes and more at:

https://moneydadpodcast.com/session044

#043.  Today’s guest is Randy Molland.  Randy discusses the power of masterminds - ones he has been a part of as well as ones he has started.  He talks about his real estate investing journey and how he came away from it initially unfufilled. He discusses the powerful idea of inspiring people with their goals of going big with their dreams, in order to give bigger with their profits.  

We discuss how anyone, including entrepreneurs, can start incorporating more giving in their lives, being intentional with allocating dollars, regardless of amount.  We dive into how parents can ensure their kids absorb the message around giving, and strategies for inspiring kids to give and normalizing the act of giving. 

We touch on the “More To Give” initiative that Randy is on the Advisory team for and what the program is designed to help kids learn.

Show notes and more at:

https://moneydadpodcast.com/session043