How to raise a "rich" kid | A conversation with our son

In this episode, we’re talking about how we parent our son Beau and teach him about money. We share our philosophy of raising a rich kid, not by giving him everything he wants, but by teaching him the value of saving and investing from a young age. We also talk about the pressure we feel as parents to provide more for our child, and how we use self-imposed constraints to teach him responsibility. We explain how we use video games and sports as metaphors to help Beau understand the concepts of earning and investing. We also discuss the importance of providing a financial cushion for our child's future, so he can have more choices and opportunities in life. At the end of the episode, we interview Beau himself, who shares his thoughts on saving money.

Beau is six years old and tells us how he learned about saving money from us and from his own experiences. He shares how he explains the concept of saving money to his friends and his teachers. He tells us his savings goals and his dreams of becoming a millionaire. He also reveals his plans to make money as a baseball player. Beau believes that having a house, food, and family are the most important things for a “perfect” life.

We emphasize the importance of not overcomplicating the process of teaching kids about money and making it a normal part of our daily lives. We stress that investing for kids is not something elitist or exclusive, but something fundamental and necessary.

Show Notes/Links:
-Learn more about OneUnited bank: https://www.oneunited.com/

-Episode 75: Financially Preparing for a Child: https://podcasts.apple.com/us/podcast/75-financially-preparing-for-a-child/id1562432041?i=1000579503951

-Episode 69: Investing for your kids: https://podcasts.apple.com/us/podcast/69-investing-for-your-kids/id1562432041?i=1000574661490

Julien and Kiersten Saunders are the hosts of the rich & REGULAR® podcast. New episodes are published weekly on YouTube, Apple Podcasts, Spotify and other streaming platforms. Julien and Kiersten are also the authors of Cashing Out: Win The Wealth Game By Walking Away, named 2023 best overall book about investing by Business Insider and one of the best personal finance books by Forbes. To learn more and purchase the book, visit https://richandregular.com/cashingout/

To contact us, send an email to hello@richandregular.com

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Видео How to raise a "rich" kid | A conversation with our son канала rich & REGULAR