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Welcome to Radical Personal Finance, a show dedicated to providing you with the knowledge, skills, insight and encouragement you need to live a rich and meaningful life now,

while building a plan for financial freedom in 10 years or less.

My name is Joshua Sheets, I'm your host, and today we continue our series on how to invest in your children at an early age.

So you won't be paying for them for the rest of your life.

And I think today's topic is especially pertinent to this basic idea.

My idea in this series is to give you all the best ideas that you can use to invest into your children early,

so that they won't require economic outpatient care as the late Thomas Stanley author of the Million and X Door used to term it.

Economic outpatient care is when a parent, especially a wealthy parent, finds himself continually supporting his children long past their childhood, far into young adulthood and even adulthood in some cases.

And if you are required to do that, it can be a very expensive proposition.

It's nice to do it if you want to, if you desire to support your children, that's a great blessing, but to need to do that is a big problem, and it can be a very expensive investment.

And what I'm hoping to do is to persuade you to agree with me that if you do certain things effectively at a young age,

then you dramatically minimize the need for you to pay lots of money for your children's college education, you diminish the need for you to pay lots of money for economic outpatient care and their 20s and their 30s, etc.

And that's what we're all about. So we started with talking about the body, how to invest into the body of your children, and we've spent quite a lot of time dealing with the minds, how to invest in the minds of your children.

And you can consider this episode a hinge episode as we pivot to the third category of investing into the spirit of your children.

Now I'm going to use that term very loosely, but I'm trying to get at in the distinction between mind and spirit, or mind and character, or mind and person, is the difference between the physical brain and its exercise versus the emotional self, the real self, the id, the spiritual being,

that goes beyond the simple physical grey matter of your child.

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