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. Today, we're going to start the process of winding down this series we're doing

on how to invest in your children at an early age. At the moment, I have three shows planned

to wind down this series. We're going to wrap it up this week. And in this particular episode,

I want to continue on the theme of how to invest into the spirit of your children.

My loose organizing theme was invest in their body, invest in their mind, and now invest in

their spirit. And in the previous episode, I spent a lot of time talking about the idea of

installing a high quality operating system into the mind of your child, an operating system of

success. We talked about grit and a growth mindset, passion, and learning to fail, and having a

robust philosophy, et cetera. Now, granted, we should quickly note that these subjects are fairly

fluffy. And that can be a little frustrating. One of the great advantages of investing

in your children using financial products is that we can use numbers. They're precise.

This is one of the things that is so incredibly appealing about financial planning. It's a semi-precise

science. As a financial planner, I can ask you, well, dear Mr. Client, what kind of college do you

want your child to go to? And you'll tell me, I want my child to go to an Ivy League or I want my

child to go to a state university. So we'll pull up an example college. We'll look at what the

tuition rates are. We'll calculate that to a discounted present value. And I'll tell you how much

you need to invest into your son's 529 account. Great. And then your son arrives at age 18 and has

lots of money for college. Great. But does that mean that your son is going to be successful?

It's a lot harder to predict. College does not per se make your child successful. And if you had

...