MoneyDad Podcast Justin Chung

#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

#042.  Today’s guest is Amanda Nitti.  Amanda discusses her classroom economy system and how it teaches vital financial literacy skills to her students in a fun, engaging way.  She discusses how she gets buy-in from her students on the types of jobs in the classroom and how her students must apply for jobs in the classroom.


She also highlights the value of entrepreneurship as part of this system through the idea of the Class Market.  We discuss the importance of tracking your cash inflows and outflows in making spending decisions and budgeting and the fun and entertaining way she teaches needs vs wants.


We also discuss non-financial and vital values that students are learning, rewards and items that can be purchased using “Nitti Bucks” and the importance of keeping kids accountable and how we can ensure kids are making informed decisions about their money.


Show notes and more at:


https://moneydadpodcast.com/session042