Ep. 286: How to Raise a Future Millionaire

Parenting Great Kids with Dr. Meg Meeker

Dr. Meg Meeker

Kids & Family, Education, Parenting, Self-improvement

4.6 • 1.1K Ratings

🗓️ 5 August 2025

⏱️ 42 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Can today’s teens still achieve financial freedom in a world of soaring inflation, student debt, and housing costs? In this episode, Dr. Meg Meeker sits down with Rachel Rodgers, entrepreneur and author of Future Millionaires, to uncover actionable strategies for helping young people become financially independent.

From building marketable skills to encouraging entrepreneurship and resilience, Rachel shares powerful tools that empower teens to take control of their financial futures.

In this episode, we discuss:

Why the traditional American Dream is harder to reach—and what to do about it
How to help your child recognize their natural skills and turn them into income
The “Million Dollar Decisions” formula and why it matters
Why teaching kids to embrace failure can lead to lasting success
Smart, age-appropriate ways to introduce kids to investing and money management

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About Rachel Rodgers

Rachel Rodgers is a business coach, lawyer, and bestselling author of We Should All Be Millionaires. Her latest book, Future Millionaires, offers a blueprint for teaching teens how to build wealth, develop decision-making skills, and create lasting independence. She’s the founder of Hello Seven, a company that helps women and people of color grow their businesses and transform their financial futures.

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Episode Breakdown:

00:00 Introduction: Financial Challenges for Young Adults

00:56 The American Dream and Its Challenges

01:37 Strategies for Financial Independence

03:52 The Importance of Marketable Skills

05:35 Encouraging Entrepreneurship in Teens

10:21 Parental Guidance and Support

14:36 Teaching Kids About Money

18:21 Motivating Kids with Incentives

19:28 Million Dollar Decisions Formula

21:10 Teaching Kids Decision-Making Skills

24:02 Encouraging Kids to Embrace Failure

29:08 Financial Education for Kids

35:11 Conclusion and Resources

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Transcript

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0:00.0	Searching for a romantic summer getaway. Escape with Rich Girl Summer, the new Audible original
0:05.2	from Lily Chew. The exquisitely talented Philippa Sue, returning to narrate her fifth
0:10.2	Lily Chew title. This time, Philippa is joined by her real-life husband, Stephen Pasquale,
0:15.5	set in Toronto's wealthy cottage country, aka the Hamptons of Canada, rich girl Summer follows the story of Valerie,
0:22.1	a down-on-her-luck event planner posing as a socialite's long-lost daughter, while piecing
0:26.5	together the secrets surrounding a mysterious family and falling deeper and deeper in love with the
0:31.7	impossibly hard to read and infuriatingly handsome family assistant, Nico. Caught between pretending to belong
0:38.2	and unexpectedly finding where she truly fits in,
0:41.3	Valerie learns her summer is about to get far more complicated
0:44.0	than she ever planned.
0:45.8	She's in over her head and head over heels.
0:48.5	Listen to Rich Girl Summer, now on Audible.
0:51.2	Go to audible.com slash rich girl summer.
0:56.7	Nearly half of all U.S. parents are still helping the adult kids financially.
1:02.5	You know, one in three young adults under 35 are so living with their parents, right?
1:06.4	So it's hard for them to leave.
1:08.2	And so when I see that and I think about my own kids, I wanted them to have a
1:12.0	pathway. This is Parenting Great Kids with Dr. Meg Meeker. Welcome to PtK, Rachel. Thank you so much for
1:20.3	having me. You know, it's funny when your publicist sent a letter to us and I saw the name of your book,
1:26.1	I'm like, okay, that's it, future millionaire.
1:28.5	I want my kids to be future millions so they can take care of me or at least in a good nursing home.
1:34.7	Exactly.
	...

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