In this episode of FI for Kids, host Dominic DeLaquil speaks with Katherine Sellery, founder of the Conscious Parenting Revolution. They discuss the importance of fostering financial independence in children through conscious parenting techniques. Catherine shares her unique background in finance and how it shaped her approach to parenting. The conversation delves into conflict resolution, the significance of connection, and practical strategies for teaching children about money management. Catherine emphasizes the need for parents to understand their children's behaviors and to approach conflicts with curiosity rather than judgment.

Takeaways

Katherine's diverse financial background influenced her parenting approach.

Conflict in parenting is common and requires thoughtful resolution.

Understanding children's behaviors is crucial for effective parenting.

Connection is more important than discipline in parenting.

Teaching kids about money management is a vital skill.

Parents should focus on facilitating conflict resolution between siblings.

Acknowledgment and appreciation foster positive behavior in children.

Time spent understanding children is an investment in their emotional health.

Using a guidance approach can transform parent-child relationships.

Name it to tame it: helping children articulate their feelings is essential.

Episode links:

Book: https://consciousparentingrevolution.com/ebook/

https://consciousparentingrevolution.com/

Music: https://www.reverbnation.com/douglascameron

Sponsors: Money Mavericks free video game

Chapters

00:00 Introduction to Conscious Parenting and Financial Independence

02:36 Catherine's Unique Financial Background

07:04 Transition from Commodities Trading to Parenting

10:11 The Need for Effective Parenting Strategies

14:56 Understanding Children's Behaviors

18:55 Facilitating Conflict Resolution in Children

23:33 The Importance of Time in Relationships

26:12 Understanding Family Dynamics and the Triangle

28:36 The Importance of Autonomy and Boundaries

30:36 Navigating Sibling Relationships and Parental Perspectives

34:21 The Role of Curiosity in Conflict Resolution

37:51 Building Emotional Vocabulary in Children

42:16 Long-Term Healing in Parent-Child Relationships

45:06 Teaching Financial Responsibility and Contribution

50:52 Resources for Conscious Parenting

In this episode, Dominic DeLaquil interviews Arunjay Katakam, author of 'Generation Hope: How Inclusive Economics Can Help Us All Thrive.' They discuss the importance of inclusive economics, the impact of childhood experiences on money mindset, and the journey from a scarcity to an abundance mindset. Arunjay shares insights on parenting, financial education for children, and the significance of generosity in business. The conversation emphasizes the need for conscious parenting and the influence of societal norms on financial decisions.

Takeaways

Money mindset is shaped by childhood experiences and societal influences.

Shifting from a scarcity mindset to an abundance mindset is crucial for financial well-being.

Generosity can lead to better business practices and employee satisfaction.

Parents play a significant role in shaping their children's financial education.

Allowing children to fail is essential for their growth and learning.

Inclusive economics focuses on fair share and consideration for others.

Conscious parenting involves discussing financial choices with children.

Technology can distract from quality family time, requiring intentionality to manage.

Financial independence is not just about wealth but also about doing good for others.

The journey to understanding money is personal and varies for each individual.

Episode links:

Book: Generation Hope: How Inclusive Economics Can Help Us All Thrive

https://www.arunjay.com

Music: https://www.reverbnation.com/douglascameron

Sponsors: https://millionstories.com

Chapters

00:00 Introduction to Inclusive Economics

02:36 Childhood Money Mindset and Influences

05:39 Shifting from Scarcity to Abundance Mindset

08:30 The Journey of Entrepreneurship and Success

11:16 The Role of Generosity in Financial Success

13:57 Parenting and Financial Education for Kids

16:46 Navigating Societal Influences on Money Mindset

19:51 The Importance of Allowing Kids to Fail

23:23 Inclusive Economics and Its Principles

25:48 The Impact of Generosity on Business

28:49 Conscious Parenting and Financial Choices

31:30 Technology and Its Influence on Family Time

34:13 Conclusion and Final Thoughts

47:26 New Chapter

Keywords

financial independence, money management, teaching kids about money, rule of 72, investment strategies, financial literacy, wealth building, financial literacy, money multiplication, investing early, financial independence, wealth building, financial education, family finance, investing, financial planning, parenting, community engagement, investing in kids, future generations, parent kids passions, financial freedom, financial stability, true wealth, income strategies, money values, kids and money

In this episode of FI for Kids, host Dominic DeLaquil speaks with Ashley Tison, a lawyer and entrepreneur, about the importance of teaching children financial independence. They discuss Ashley's own experiences with money growing up, the strategies he employs to educate his children about finances, and the benefits of investing in real estate or a business within Opportunity Zones, both for the investor and the people living within the opportunity zone. The conversation also covers tax benefits, the role of trusts in family legacy, and innovative ways to involve children in financial decision-making.

Takeaways

Teaching kids about money is crucial to their future success.

Encouraging entrepreneurship can lead to valuable life skills.

Opportunity Zones provide tax benefits for investors and those living in the zones.

Investing in real estate can be a smart financial move.

Using trusts can help manage family wealth effectively.

Putting kids on payroll can teach them about earning and saving.

Financial education should start early and be ongoing.

Creating a family bank can promote responsible financial behavior.

Understanding tax strategies can enhance investment returns.

Involving children in financial discussions fosters responsibility.

Episode links:

https://ozpros.com/podcast

Music: https://www.reverbnation.com/douglascameron

Sponsors: https://groovemoney.org/

Chapters

00:00 Introduction to Financial Independence for Kids

02:49 Lessons from Childhood: Money and Entrepreneurship

05:34 Instilling Financial Values in the Next Generation

08:23 Exploring Cash Flow and Financial Independence

11:11 Understanding Opportunity Zones: A Primer

13:55 The Benefits of Investing in Opportunity Zones

16:44 Practical Applications of Opportunity Zones

19:39 Strategies for Financial Freedom through Real Estate

22:34 The Importance of Financial Education for Kids

25:43 Unlocking Opportunity Zones: Beyond Real Estate

29:02 Navigating Business Limitations in Opportunity Zones

30:17 Intellectual Property and Opportunity Zones

33:08 Future of Opportunity Zones: Legislative Changes

35:52 Setting Up Opportunity Zones Across the Nation

37:12 Tax Strategies for Families: Putting Kids on Payroll

43:14 Creating a Legacy: Intentional Estate Planning

51:36 New Chapter

Keywords

financial independence, money management, teaching kids about money, rule of 72, investment strategies, financial literacy, wealth building, financial literacy, money multiplication, investing early, financial independence, wealth building, financial education, family finance, investing, financial planning, parenting, community engagement, investing in kids, future generations, parent kids passions, financial freedom, financial stability, true wealth, income strategies, money values, kids and money

In this episode of FI for Kids, host Dominic DeLaquil speaks with financial advisor and podcast host Joe Curry about the importance of teaching children about money and financial independence. They discuss Joe's background, the lessons he learned about money from his family, and how he applies these lessons in his practice with clients approaching retirement. The conversation emphasizes the significance of understanding true wealth, prioritizing values, and the strategies for retirement income planning. Joe also shares insights on how he teaches his children about money management and decision-making, highlighting the importance of open conversations about finances. In this conversation, Joseph Curry discusses various strategies for retirement income planning, emphasizing the importance of understanding one's retirement income style and the need for a comprehensive financial plan. He introduces dynamic withdrawal strategies that allow for flexibility in spending during retirement, contrasting them with traditional methods. The discussion also highlights the significance of financial education and the role of financial advisors in helping clients navigate their retirement planning journey.

Episode links:

https://www.retirementplanningsimplified.ca/

Book: The Latte Factor

Music: https://www.reverbnation.com/douglascameron

Sponsors: https://venturevalleygame.com/

Takeaways

Money is an ends to a means, not the end itself.

Reflecting on values helps prioritize financial decisions.

Having more than three priorities means you have none.

Self-reflection is crucial for understanding priorities.

Open conversations about money are essential for families.

Teaching kids about money involves practical decision-making.

Financial independence requires understanding and prioritizing values.

Retirement planning should consider individual comfort levels with risk.

Income protection strategies can provide peace of mind in retirement.

Creating a financial roadmap helps achieve true wealth. Understanding your retirement income style is crucial for success.

A combination of guaranteed income and investment strategies can provide security.

Dynamic withdrawal strategies offer flexibility in retirement spending.

It's important to have a financial plan that aligns with your goals.

Financial education can empower individuals to make informed decisions.

Advisors should focus on understanding clients' needs before recommending products.

The retirement planning process should be approachable and not intimidating.

Clear priorities can guide financial decisions and spending habits.

Engaging with financial concepts can lead to better outcomes in retirement.

Building a relationship with a financial advisor is key to effective planning.

Chapters

00:00 Introduction to Financial Independence for Kids

02:14 Lessons from Childhood: Money and Values

03:54 Transitioning to Retirement Planning

05:38 Understanding True Wealth and Priorities

11:03 Client Conversations: Values and Priorities

16:01 Teaching Kids About Money and Prioritization

22:27 Strategies for Retirement Income Planning

24:58 Understanding Retirement Income Strategies

32:01 Dynamic Withdrawal Strategies for Retirement

40:41 The Importance of Financial Education and Planning

Sound Bites

"Money is more of a means to an end."

"It's important to do that self-reflection."

"Do we really want to work a few more years?"

"Money only goes so far, and I've got to decide."

"Being open around money is a good thing."

"We want to identify the retirement income style."

"What's most important is understanding the plan."

"The power of getting clear on your priorities."

"Get clear on what is most important to you."

In this episode of FI for Kids, host Dominic DeLaquil speaks with financial coach Julia Carlson about her journey to financial independence and the lessons she learned about money from her parents. Julia shares her experiences with money, including the realization that chasing wealth can lead to emptiness. She discusses the pivotal moment in her life that changed her perspective on money and led to the creation of her book, “Money Loves You – Transform Your Relationship with Money and Grow Your Wealth” The conversation covers the importance of understanding one's money story, the anti-budget approach to financial management, and the concept of financial seasons to help prioritize financial goals. In this conversation, Julia Carlson and Dominic DeLaquil explore the importance of financial empowerment, focusing on the mindset surrounding money, the significance of open discussions about finances in relationships, and the necessity of teaching children about money management. They discuss practical strategies such as the 90-day financial snapshot and the concept of money as both a mirror and an amplifier of one's values and intentions. The conversation emphasizes the need for consistent financial education and community outreach to foster a healthier relationship with money.

Takeaways

Julia learned about money from parents with a healthy mindset.

Money was seen as a tool, not a source of conflict.

Chasing money can lead to feelings of emptiness.

A pivotal moment in Julia's life changed her perspective on money.

The importance of understanding one's money story.

The anti-budget approach allows for flexible spending.

Financial seasons help prioritize financial goals.

Giving and receiving are essential in financial relationships.

Mindset around money affects financial success.

Intentional spending leads to financial independence. Energy goes, our focus flows.

The importance of commitment in financial goals.

Healthy money conversations reduce strife in relationships.

A 90-day focus can lead to significant financial progress.

Documenting financial journeys can show long-term growth.

Money reflects the attention and intention we give it.

Good stewardship of money leads to freedom from attachment.

Teaching kids about money is crucial for their future.

Community outreach is essential for spreading financial literacy.

Practical steps can lead to a healthier money mindset.

Sound Bites

"Money as a symbol of my worthiness."

"I had to unwind that."

"My future self is important."

"Where our focus goes, our energy flows."

"Money is a tool, right?"

"Spend time with your money."

Episode links:

https://www.thejuliacarlson.com/

https://www.instagram.com/thejuliacarlson/

Book: Money Loves You Transform Your Relationship with Money and Grow Your Wealth

Music: https://www.reverbnation.com/douglascameron

Sponsors: https://singletonfoundation.org/

Chapters

00:00 Introduction to Financial Independence for Kids

00:34 Lessons from Childhood: Money Mindset

02:58 The Pursuit of Money vs. True Fulfillment

06:14 A Life-Changing Wake-Up Call

08:11 The Birth of 'Money Loves You'

11:14 Transforming Your Money Story

12:37 The Anti-Budget Approach

19:00 Understanding Financial Seasons

21:45 The Power of Focus and Commitment

22:59 Healthy Money Conversations in Relationships

24:39 The 90-Day Financial Empowerment Snapshot

26:28 Long-Term Financial Progress and Consistency

27:23 Money as a Mirror and Amplifier

31:15 Teaching Kids About Money Mindset

36:35 Community Outreach and Financial Literacy

40:44 Actionable Steps for Financial Empowerment

Keywords

financial independence, money management, teaching kids about money, rule of 72, investment strategies, financial literacy, wealth building, financial literacy, money multiplication, investing early, financial independence, wealth building, financial education, family finance, investing, financial planning, parenting, community engagement, investing in kids, future generations, parent kids passions, financial freedom, financial stability

In this episode of FI for Kids, host Dominic DeLaquil speaks with Sara Ecklein, a professional fiduciary, about the importance of financial literacy, estate planning, and the emotional complexities surrounding death and family dynamics. Sara explains her role as a fiduciary, the significance of planning for the future, and how personal experiences shape our understanding of finance and legacy. The conversation emphasizes the need for proactive planning to avoid family conflicts and ensure a smooth transition of assets and responsibilities. In this conversation, Sara Ecklein and Dominic DeLaquil delve into the intricacies of estate planning, emphasizing its importance not just as a legal necessity but as a means to create a lasting legacy. They discuss the evolution of estate plans, the need for ongoing updates, and share success stories that highlight the positive impact of thoughtful planning. The conversation also touches on the emotional aspects of facing mortality and the transformative power of planning for future generations. Sara provides resources for listeners to begin their estate planning journey, encouraging them to reflect on their values and wishes.

Takeaways

A professional fiduciary acts as a trustee, conservator, or agent for financial decisions.

Personal finance is often tied to emotional experiences and family history.

Many people delay estate planning due to the denial of death.

Estate planning is not just about after death; it includes incapacity planning.

Families often face dysfunction when dealing with financial matters after a loss.

Proactive planning can prevent conflicts and ensure family harmony.

Understanding the components of an estate plan is crucial for everyone.

The emotional aspect of planning is as important as the financial aspect.

Conversations about death and finances should be normalized in families.

Every family's estate plan is unique and should reflect their values and needs. Only one in three people have an estate plan.

Estate planning is just the starting point.

We need to face our own mortality.

Estate plans should evolve over time.

Successful planning creates a culture of awareness.

Trusts can guide beneficiaries towards responsible use of funds.

Planning can transform lives and future generations.

Conversations about estate planning should be ongoing.

Estate planning is about more than just death.

Resources are available to help with estate planning.

Episode links:

https://www.trustandhonor.co/workbook

Legacy of Love podcast

Music: https://www.reverbnation.com/douglascameron

Sponsors: Money Mavericks video game

Chapters

00:00 Introduction to Professional Fiduciaries

03:04 The Role of a Professional Fiduciary

05:49 Personal Finance and Wealth Building

09:01 The Importance of Estate Planning

12:08 Confronting the Denial of Death

15:03 Understanding Estate Planning Components

18:07 Navigating Family Dynamics in Estate Planning

26:33 Understanding Estate Planning and Its Importance

29:01 The Evolution of Estate Plans Over Time

32:40 Success Stories in Estate Planning

37:29 The Ripple Effect of Thoughtful Planning

40:50 Transforming Estate Planning into a Legacy of Love

46:52 Final Thoughts and Resources for Estate Planning

In this episode of FI for Kids, host Dominic DeLaquil interviews Rob Finlay, a bestselling author and entrepreneur, who shares his insights on teaching financial independence to kids. Rob discusses his own financial journey, the importance of budgeting, and how parents can effectively communicate financial concepts to their kids. He also introduces his new book, Hey Dad, which serves as a practical guide for young adults navigating financial responsibilities. The conversation emphasizes the significance of real-life experiences, external influences, and the compounding effect of learning over time. In this conversation, Rob Finlay and Dominic DeLaquil discuss the importance of guiding children towards reliable information, transitioning from a parental role to a mentorship role, and understanding financial decisions. They emphasize the significance of investing basics for young adults and the necessity of charting one's own financial path.

Takeaways

Rob learned about money from his parents but struggled with budgeting as an adult.

Financial control is essential for happiness and well-being.

Kids often don't understand the true costs of living.

Budgeting should be presented as a positive tool for financial freedom.

Real-life experiences are crucial for teaching financial lessons.

Compounding applies to both finances and personal growth.

External voices can help kids learn better than parents alone.

The book aims to provide practical advice for young adults.

Engaging kids in financial discussions can open up important dialogues.

Patience is key in teaching kids about money. Guide children to reliable sources of information.

Encourage communication with trusted adults outside the family.

Transition from being a parent to a mentor as children grow.

Support young adults in making their own decisions.

Understand the difference between emotional and practical financial decisions.

Teach the basics of investing to young adults.

Highlight the importance of budgeting and financial literacy.

Encourage children to chart their own financial paths.

Promote sustainable farming practices and soil health.

Recognize that every individual's financial journey is unique.

Episode links:

https://robfinlay.com

Hey Dad – Everything You Should’ve Learned About Life (But Didn’t)

Music: https://www.reverbnation.com/douglascameron

Sponsors: https://singletonfoundation.org

Chapters

00:00 Introduction to Financial Independence for Kids

01:43 Rob's Financial Journey and Lessons Learned

05:30 Teaching Kids About Budgeting

10:13 Real-Life Financial Decisions and Learning Experiences

15:11 The Importance of Compounding in Life

17:57 Inspiration Behind the Book

22:10 The Book's Structure and Content

24:34 Engaging Kids Through External Voices

28:35 Guiding Children Towards Reliable Information

31:25 Transitioning from Parent to Mentor

36:50 Understanding Financial Decisions

38:07 Investing Basics for Young Adults

43:56 Charting Your Own Financial Path

50:55 Sustainable Farming and Soil Health

Sound Bites

"Budgeting is a positive thing."

"It’s a wonderful learning experience."

"Compounding is incredible."

"Can I put the green gas in my Jeep?"

"Life can be pretty funny."

"It’s a great gift."

"You have to plant the seeds."

"You have to be patient."

"Kids don’t really listen to you."

"They need to talk to adults."

"The world will teach our children."

Keywords

financial independence, money management, teaching kids about money, rule of 72, investment strategies, financial literacy, wealth building, financial literacy, money multiplication, investing early, financial independence, wealth building, financial education, family finance, investing, financial planning, parenting, community engagement, investing in kids, future generations, parent kids passions, financial freedom, financial stability, young adults