11 Top Strategies For Raising Money Smart Kids
Money Tree Investing
Money Tree Investing Podcast
4.6 • 658 Ratings
🗓️ 10 December 2021
⏱️ 63 minutes
🧾️ Download transcript
Summary
Are your kids money smart?
This week we interview Robin Taub about how you can raise money smart kids. We discuss 11 financial habits that give them a good foundation in life, behavioral bias, a good age to start, the 5 pillars of monye and more.
Dual Impact Funds is the sponsor of this episode. See https://moneytreepodcast.com/IQ-Dual-Impact-1 for more details.
For more information, visit the show notes at https://moneytreepodcast.com/11-top-strategies-for-raising-money-smart-kids
Today's Panelists:
- Kirk Chisholm | Innovative Wealth
- Barbara Friedberg | Barbara Friedberg Personal Finance
- Megan Gorman | The Wealth Intersection
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Transcript
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| 0:00.0 | Welcome to the Money Tree Investing Podcast. Stock market, wealth, personal finance, value stocks, invest in your life. |
| 0:11.1 | Hello, Smart Money Tree podcast listeners. Welcome to this week's show. My name's Kirk Chisholm and I will be your host. So today we're talking with Robin Tob. How you doing today, Robin? |
| 0:21.6 | Good. Thanks. How are you? Good. Well, today we're talking about raising money smart kids. |
| 0:27.3 | This is a topic which we cannot talk enough about, especially after last year with COVID, |
| 0:34.7 | kind of messing up everyone's habits and whatnot. |
| 0:42.3 | But we really wanted to get into this because I think there's so much that we can learn as parents or if you're going to be a parent, things that you should know. |
| 0:46.2 | So Robin, you had written a book called The Wisest Investment, Teaching Your Kids to Be Responsible, |
| 0:51.2 | Independent, and Money Smart for Life. |
| 0:53.3 | Tell us a bit about your |
| 0:54.5 | background and why you decided to write the book. I am a CPA by training. I'm Canadian, Canadian |
| 1:01.5 | CPA, but I'd like to say that I'm not your typical accountant. Even though I've worked in an accounting |
| 1:08.1 | firm and I was a tax specialist and a CFO of one of the clients that I |
| 1:13.3 | had when I was at that firm. I've been out on my own now for about 20 years and sorry, in between that, |
| 1:20.2 | I actually worked at Citibank Canada on the trading floor doing derivatives marketing. But for the last |
| 1:25.9 | 20 years, I have been on my own and focusing on |
| 1:28.8 | financial literacy. I think the reason I was interested in that came from the 2008 global |
| 1:35.5 | financial crisis. And there was a sudden attention, at least in Canada, but globally as well, |
| 1:41.5 | that financial literacy has a key role to play to some degree in preventing |
| 1:46.5 | some of these crises, that if people have better knowledge, skills, and capability around money, |
| 1:52.4 | some of the misery of that crisis could have been avoided. I was approached to write a book. |
| 1:59.0 | This is now an update to this book I wrote 10 years ago, which had a slightly different name. And I was approached to write a book. This is now an update to this book I wrote 10 years ago, |
| 2:02.2 | which had a slightly different name. And I was approached to write it based on my financial |
... |
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