Bonus Q&A: Teaching Kids about Money, Investing and Financial Responsibility with Tad Fallows

All the Hacks with Chris Hutchins

Chris Hutchins

Business, Education, Investing, Society & Culture, Places & Travel, Self-improvement

4.7 • 1.4K Ratings

🗓️ 18 November 2022

⏱️ 17 minutes

🔗️ Recording | iTunes | RSS

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Summary

#88: Tad Fallows joins Chris on this bonus episode to discuss teaching children about money and investing, allowances, college savings, and strategies you can use for investing in your children. Tad also shares his favorite real estate tax hack recommendations for Dallas, Texas and his favorite finance podcasts. Tad Fallows (@LongAngleHNW) is co-founder of Long Angle, a private digital community of highly successful young entrepreneurs and executives. He also cofounded iLab Solutions LLC, a global leader in cloud-based laboratory management software, which Agilent Technologies acquired in 2016. Full show notes at: https://allthehacks.com/bonus-tad-fallows Selected Links From The Episode Connect with Tad Fallows: Twitter | Website | LinkedIn | Email Resources Mentioned M is for Money Mr. Money Mustache Reddit fatFIRE Podcasts Odd Lots Podcast Money For The Rest of Us Business of Family Tad Fallows’ Dallas Recommendations Katy Trail Ice House Dallas Symphony Orchestra Full Show Notes Introduction to Tad Fallows (00:00) Instilling your children with financial knowledge and values without entitlement (03:38) Gifting your children with brokerage accounts to purchase individual shares of stocks (07:09) Teaching the value of money and charitable giving through allowances (08:39) Encouraging financial responsibility and reinforcing natural consequences to correct behaviors (09:04) College Savings and 529s vs. keeping money in a less restrictive place (10:17) Tax Hack: Become a Real Estate Professional (13:00) Resources Tad follows to stay current on investments and finances (14:07) Tad’s Dallas Recommendations (15:47) Connect with All the Hacks All the Hacks: Newsletter | Website | Facebook | Email Chris Hutchins: Twitter | Instagram | Website | LinkedIn

Transcript

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0:00.0	Hello, and welcome to another episode of All the Hacks, a show about upgrading your
0:06.7	life, money, and travel.
0:08.8	I'm your host Chris Hutchins, and each week I sit down with the world's best experts
0:12.8	to learn the strategies, tactics, and frameworks that shape their success.
0:16.8	A couple days ago, I had a fascinating conversation with Tad Falos, and we talked about how high
0:22.1	net worth investors manage and invest their money, including their asset allocation percentages
0:27.4	and a deep dive on alternative assets.
0:30.0	So if you want to check that out or get more context on Tad and the community of high net
0:33.8	worth investors, he runs definitely listen to that episode.
0:37.2	But today, I wanted to release a little bonus episode with the rest of that conversation,
0:41.6	which is all about how he thinks about money and kids, things like allowance, college savings,
0:47.2	sharing family finances, as well as a real estate tax hack, and his recommendations if you're
0:52.2	ever in his hometown, Dallas.
0:54.5	So let's get started right after this.
0:57.6	I wish I could say that I'm eating a fully balanced diet every day, but the reality is that
1:02.3	I am definitely not.
1:04.0	So I love having an easy way to get my daily nutritional insurance, which is why I kickstart
1:09.0	my day with athletic greens, and I am excited to be partnering with them for this episode.
1:13.9	I started taking it because I wanted to see what all the hype was about, and I've kept
1:17.8	it in my daily routine for months.
1:20.6	Every morning, I mix it up with some cold water, add a few ice cubes, it tastes so good
1:24.9	when it's cold, and I head to my office feeling focused and energized for the day, which
	...

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