How to Not Ruin Your Kids with Your Wealth ft. Dr. Becky

Moneywise

Hampton

Business, Entrepreneurship, Investing

4.8 • 674 Ratings

🗓️ 20 August 2024

⏱️ 42 minutes

🔗️ Recording | iTunes | RSS

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Summary

Worried that your wealth might turn your kids into spoiled, unmotivated adults? Dr. Becky’s here to show us how to raise resilient, grounded kids even when money isn’t an issue. She’s the force behind "Good Inside", often called the "millennial parent whisperer." With a clinical psychology background, and her own experience parenting young kids while founding a rapidly growing successful business, she’s full of valuable insights on how to raise kids in a wealthy environment without them becoming spoiled and entitled. In this episode, Dr. Becky explains why it's crucial for kids to experience challenges, even when you can afford to remove obstacles, and why you too need to do more hard things. She provides actionable tips on setting boundaries, managing a demanding career while being present for your family, and encouraging internal motivation. We also explore how your behavior and energy as a parent shape your children's growth and resilience. This is Moneywise, a podcast where host Sam Parr is joined by high-net-worth guests to explore exclusive insights into personal finance and lifestyle tailored for other high-net-worth people, or those on their way. They'll get radically transparent about the numbers, revealing things like their burn rates, portfolios, and spending habits. Who is Sam Parr? Sam is a serial entrepreneur and the co-founder of The Hustle, which he sold to HubSpot in 2021. He's also the co-host of one of the world's top podcasts for entrepreneurs, My First Million. Known for his insightful business acumen and candid communication style, Sam Parr continues to be a prominent figure in the world of media and entrepreneurship. Sam's newest and biggest venture yet is Hampton, which he co-founded in 2022. This podcast was made for the Hampton community, a private, highly-vetted, peer membership community for founders and CEOs of fast-growing, tech-enabled startups. Chapters: Dr. Becky's Journey and Good Inside (02:41) Balancing Business and Family Life (07:57) Teaching Kids Resilience and Handling Frustration (13:04) Self-Improvement and Parenting (21:57) Small Steps for Big Changes (23:09) Managing Anxiety and Productivity (24:23) Balancing Family Time (25:50) Teaching Financial Responsibility (28:41) Legacy and Parenting Philosophy (33:36) Good Inside App (36:45) This podcast was produced in partnership with Lower Street and distributed by Morning Brew.

Transcript

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0:00.0	The dad had become very successful and 16-year-old had a full-blown temper tantrum in an airport
0:09.8	when he found out he wasn't flying first class. This is exactly what I do not want to happen to my kids.
0:18.2	Well-rounded adults come from being able to handle and overcome adversity. But at the same
0:23.0	time, when you become an adult and you build yourself a level of success, you naturally want to
0:27.3	make your life easier. The hard part becomes, how do I do that while simultaneously raising
0:32.5	resilient and motivated kids? As a new dad, this is something that I'm obsessed about,
0:37.7	and it's why I've asked Dr. Becky to come on our show.
0:40.5	And by the way, if you've not heard of her, Dr. Becky,
0:42.8	you should look her up on Instagram.
0:44.2	She's a parenting expert.
0:45.4	She's like the hottest thing going right now.
0:47.1	I find her incredibly fascinating.
0:49.0	She has a website called Good Inside, a book also called Good Inside,
0:52.2	and she's an expert on this type of stuff.
0:54.7	And on today's podcast, that's what we're going to talk about.
0:56.7	We're going to talk about how to balance running a business or your career while being present
0:59.7	with your kids, how to navigate your expectations and your kids and your family's legacy,
1:04.1	and a ton more.
1:10.1	Welcome to Money Wise. I'm your host, Sam Parr.
1:14.6	Look, spend just a few seconds on the internet and you're going to see a ton of information out there on how to become successful,
1:20.6	but there's not a lot of stuff out there that teaches you how to handle success and handle money.
1:24.6	I'm the co-founder of a company called Hampton. You can see it at joinhampton.com. It's a community with thousands of CEOs, most of whom are doing tens of millions
	...

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