Episode 251 – Raising the Next Generation of Wealth: Teaching Kids Financial Skills for Life

Episode Transcription

This is the Ultimate Advisor  Podcast, the podcast for financial advisors who want to create a thriving, successful and scalable practice. Each week we’ll uncover the ways that you can improve your referrals, your team, your marketing, and your business operations, helping you to level up your advising practice, bring in more assets, and to create the advising practice that you’ve dreamed of. You’ll be joined by our hosts Bryan Sweet, who is moving fast towards a billion dollars in assets under management, Brittany Anderson, the driving force for advisors looking to improve their operations and company culture, and Draye Redfern who can help you systematize and automate your practices marketing to effortlessly attract new clients. So what do you say? Let’s jump in to another amazing episode of the ultimate advisor podcast.

Bryan Sweet 01:07

Welcome to The Ultimate advisor Podcast. I’m Bryan Sweet and with me today is a an amazingly special guest, Scott Donnell Scott was recently at our elite wealth advisor symposium and just gave the most amazing presentation. And once we heard it and got the rounding applause from the audience, I said, Boy, we have to have him on our podcast to share his wisdom and the things that he’s doing that are really, really unique. And so I’m extremely excited to have this conversation, Scott, and maybe let’s just start out by you tell us a little bit about yourself. And then we’ll get into the kind of the the meat of the discussion today.

Scott Donnel 1:49

Yeah, well, the topic is how do you win the war on entitlement with your kid, that’s my expertise, family legacy and financial literacy. We got a big old problem, as you well know, their kids today are day trading victimhood and entitlement like money, and no one’s being taught in schools, the proper ideas and ways to steward or make and manage money. Banks don’t care about you, unless you have a bunch of deposits and parents are spinning, they just don’t they have no clue what to do. Most parents. They basically say, All right, we’ll give you an allowance, which is a terrible idea, right? We’ll help you split it up in your three jars. If we’re good into save, spend and share. Right? We’ll get you a bank account when you hit pure and maybe we’ll do a like a lemonade stand or something or try to do an investment thing with you one weekend or a business fair at the best. That’s what everyone does. All right. If and that’s if they’re good, right? Most families actually money is a taboo is correct. It’s a huge taboo. Most adults would rather talk about their sex life openly than their bank account. And nobody’s going to talk to their kids about right because they do not know how to even broach the conversation in a meaningful way. And kids report this is the crazy because we’ve helped over 7 million families now that’s my experts. The kids report that money is the biggest fight in the home. And you’re like, wait, what, how is it the biggest fight if parents don’t even talk to them about because they see it everywhere? You know, parents are either using money to bribe, coerce, and by love or their paycheck to paycheck, pinching and you know, worried about it, and it’s causing issues in the marriage. So the kids are seeing their parents argue over work and the bills and the debts and the issues, and it’s causing friction. So they steer clear, oh, money is a problem. Money is bad money is a con.

Bryan 3:31

Yeah that is really so common. And I mean, I personally hear that all the time. And one of the things that doesn’t happen, as we all know is there’s not really any training program or education out there from when you’re small, and even with the parents to help their kids learn the proper things. And so that’s why I thought what you have built here, these different platforms is just so fascinating, because not only can it help parents, but it can help the kids and it’s just an amazingly well rounded educational platform.

Scott 4:10

Yeah that’s that’s what we’re doing is you know, nobody knows how to do this. It took us 7 million families to figure this out over the last 15 years. And you know, I don’t want to I don’t want to slap any of the other people trying to do financial literacy but a bunch of its junk a Chase Bank spent hundreds of millions of dollars last year on financial literacy. Did you ever hear about it? No, me neither. It’s PR you can’t give kids more homework money cannot be learned through more homework. So anybody that just has books and worksheet and courses or whatever, Dave Ramsey, no offense, but all they did was they slap their financial peace and they just said for kids and kids do not learn about money through homework. You cannot you cannot give a 12 year old a debits and credits sheet and have them fill it out and learn what’s you know, a debit or a credit or budget a month of fake money. Like if that were true, then you and I could play Monopoly one time We’re both gonna be real estate billionaires. That’s not how kids learn money, they have to be dealing with real money, and they need a system to be able to learn the right things about money. So that’s why we built gravy stack and our dinner table.com.

Bryan 5:12

Now, well, how do you teach kids money? I mean, you’ve obviously gotten really amazingly effective program, and what have you found that actually does work?

Scott Donnell 5:22

so we built gravy stack first, and gravy stack is an app that it’s by the time this comes out, it’s going to be free to download and get going and teaching your kids it’s like a literal bank account with a debit card. 10 times better than green light or chase for kids are other things out there. Because it’s actually teaching them how to create value in the world first and earn money to then manage it and cover their own expense as a whole. Since it’s a system in the home that we call the home economy system. And if you implement that system with your kid, it’s extremely powerful for them to learn all the money skills, how to earn, save, spend, share, invest, even, like protection, safety, and then the borrowing the good and the bad of borrowing and debt. And it teaches them all this stuff. And so then we built dinner table.com Because all the parents started asking for more training, right? So these are adults that some of them don’t even have kids. Some of them have grandkids and adult kids that need help. Some of them have teenagers or young kids. So dinner table.com is now all of our training for the adult, right? How do you build family legacy? How do you build strong financial skills actually pass it on? Right? Because most parents they think that their job is to die with a bunch of money and stuff. That’s what they think legacy is and I’m telling you that’s not legacy. The more you give your kids that they’re not prepared for the more you ruin. This is what a trust fund kid and that’s what gives them impostor syndrome. teittleman. A spoils them, it turns them into victims, they have guilt, fear and shame 90% of generational wealth transfer is gone by the grandkid, you know these stats. So what do you do, right? And so it’s not just about, you know, inheritance, what we believe is it’s actually about heritage, it’s a last name, that means something, and all of our 18 strategies that we teach, so that you can have a thriving family for generations to come and you don’t ruin anybody.

Bryan 7:12

Now I find that the that topic or your your way of explaining it fascinating. You know the difference between heritage and inheritance, I guess. And so maybe dig into that a little bit more for us.

Scott 7:27

Yeah. So it starts with this idea of, you know, most parents with what when they have kids, they go like this, they go, I just want to do all the things for them that I never had, I want to give them all this stuff I wasn’t able to have growing up, or I want to give them all the opportunities I never had. Right. And that comes from a place of love. But if you do that too much you entitled and spoiled your kid. It’s like how much how did you get to where you are today? Healthy struggles actually write things that help you grow? Not trauma, not neglect or abuse? No, that’s not what I’m talking not even tough love. What we’re talking about is put a system in your home where your kids have a last name, that means something that they carry on the values of the family, the mindset, the beliefs, the skills, the financial competencies, set that up to where your kids are thriving out in the real world, and they’re deeply connected to you as a family. And then it doesn’t matter if you leave them a dime or not. They’re going to crash that’s legacy. That’s legacy. So what we say is heritage beats inherit, right, it’s more about what you leave in your kids and to I

Bryan 8:29

love that. Yeah, that’s the goal. Awesome.

Scott 8:32

So for us, that means that means value. You know, if you’re listening to this right now, do you have a strong clear, simple fan? And I’m not talking about a mission statement on the wall? What I’m talking about are what are the stories that you’re telling to your relative of your parents to your son to your kid you have right what are those stories that showcase the values of what it means a part of your family the more we can do that and tell great stories of our ancestors, our heritage give, you know, celebrate in our kids, when they do things that showcase your value in 30 years, your kids are not going to be sitting around the dinner table talking about some mission on your wall they’re going to tell stories. Stories are the most important part so that’s really what hair if you want to if you want to kill a family get rid of the chief storyteller. So let’s get really good at telling value bait Who are they

Bryan 9:14

I remember you telling the story I don’t know if it was acronyms or certain words that you share with your kids and and just the stories you told at at our symposium just really hit home with me maybe you could share a little bit about what you do personally with your family.

Scott 9:36

Yeah, so So in dinner table, and this is our this is going to be our gift for everybody listening today. We’re gonna give you guys the ATM strategy. Okay, the heritage over and that’s just one of the 18 strategy, the home economy system, which we’ll walk through in a minute, that’s just one of the 18 so we’re gonna give everybody the gift, okay, they’ll just go to info dot dinner table.com We’ll give you all the gift and if you want to follow up and do any stuff with us and talk to us about how to give this to you Your people and train your family will help. So with our family, in our workshop, we actually did our family’s values in the workshop that we put Okay. And what we went through together was we realized we want to keep it simple so that my three year old can say it every night, right? And it’s faith, family and fit Simple as that. If you want to know what it means to be a Donnell, faith, family and fit, we love God, we love our family, and we back each other up and then fish, which stands for fun and adventurous. That’s the F integrity, that’s the eye. So doing the right thing, even if nobody’s gonna watch the S is service and value creation. And then the H is hard work. Donald’s do hard thing. And so we’re looking for stories every day with our kids not just like telling the stories of my ancestors coming across the Oregon Trail all these cool stories of like, our heritage on both sides of me and my family’s displaying faith, family fish. But we’re out we’re also telling stories of when our kids do things during the day. Right? Can I can I share with you a fun story that we just celebrated?

So one of our core tenants of financial literacy is giving kids expenses to be in charge of at home and without expenses, kids have no motive to earn only 5% of kids are entrepreneurial. They’re like, how am I making money dad, like they pop out of the womb, ready to make money. You know, 95% of kids do not have they are not they do not have the genetic mutation, which is what’s called the entrepreneurial gene have to D for genetic mutation. We heard about this, when we were in Chicago together, that’s a true thing to our friend, Gino Wickman. With the entrepreneurial leap, he says 95% of people are not wired to become full on entrepreneurial or entrepreneur. But what we believe is that every kid needs to become entrepreneurial. So entrepreneurial means empathy, you’re you’re looking around for ways to help others you’re finding and solving problems you are finding other people’s wants or needs and helping them get them that isn’t entrepreneurial minds. And if you if you teach this to your children, it is what gets them the job. It’s what gets them the captain of the it’s what gets them the promotion, whether they’re their own business owner or not, doesn’t matter. You got to teach them the skill. So this idea of having your kids being in charge of expense gives them a motive to earn. And so with the gravy stack app, our daughter Regan, she’s seven she uses the app all the time, she has her own expense charger, right? Well, one of the things we gave her, which is one of our 12 categories of expenses is birthday present for your friend’s party. So she makes the money she’s she automatically in the app with her debit card, the money first goes into saving and longterm then it goes into sharing and giving and then the rest goes into her spend account with her debit card. It’s automatic, so kids learn right away how to split up the money and then she’s in charge of her expenses first that we give her so now she’s got a motive to go do a bunch of gigs around the house and help us out and she’s always finding ways to make extra money because now she has to because she’s in charge of certain things as a seven year old. Okay, toys, trinkets stuff for sports stuff for swimming. She’s in charge of buying certain things. And now she has a motive to actually learn to make that’s a key piece that most parents mess up. They do allowance. They do chores, they screw it all up. There’s conflict all the time. Kids don’t learn the right stuff allowances, basically so don’t do that. Okay, so anyway, here’s what happened. Regan has her debit card, she buys the birthday present for our friend, Dawson’s party last night. It’s like a $12 gift at tar comes home. She throws it into the bag. She when she comes to the party, she was responsible for it. She couldn’t go to the party unless she did it. And she was so excited. She walks into the party, every single other kid of the 20 families that were at the party, Mom and Dad bought the present. Now they put the present on the table. The kids didn’t even know what it was half the time and nobody even opened the president the party was too busy. Everybody’s running around. It didn’t even open the presents. It was like a foregone afterthought. I halfway through the party, Reagan walks up to me with Dawson, the birthday kid and is like, Hey, can I open? Can he open my present now? And I’m like, sure she goes I want to see his thing. Because she made the money. She learned generosity. That’s how you teach generosity can’t just give your kids money to give away that’s not generous, can’t give your kids an allowance and have them spend your money. That’s not learning budget, you can’t make put up an investment account for that. What you’re going to do a 529 plan and a Roth and save a bunch for their college and they never even know are you teaching okay? So she comes up grabs the president, they sit down right in the middle of the ninja and he opens her present right in front of like all the other kids are playing and he’s sitting there with her and he’s like, Oh my gosh, he gives her a big hug. He’s beaming Reagan is beaming from ear to ear and all the other parents are sitting there looking around like what just happen. And I’m like, well, Reagan is learning generosity for life because she made that she got the president and that’s that’s one of her responsibilities was one of her expenses in our home part of our home economy system that we teach 20 other parents in that very minute downloaded the app. Like they’re like we’re doing this right now. Oh my gosh, this is brilliant, right? So that’s, that’s what happens when you start implementing these basic principles shield Regan is now going to be the adult when she’s 2530 years old. She’s going to be the gender she’s going to be thought he’s going to be more giving and caring and her life right that’s the point. By now,

Bryan 15:00

and I find that fascinating, and we both obviously know Britney and my office, part of ultimate advisor, also, and I hear the stories all the time as she teaches her kid, you know, the principles that you have programs, and it’s fun to see how they start grasping them and applying them to, you know, things that really matter. So I kind of live vicariously through Britney’s three little ones, but, you know, you’re just, you know, reaffirmed, you know, all that stuff. And since this is a podcast for successful financial advice, you know, how can you help clients families thrive, I think, you know, obviously, just that example you just gave is one one really great, you know, answer, but I’m guessing there’s lots of other things that would be really helpful for financial advisors to make their clients aware of this platform and help them implement it into their family. Yeah,

Bryan 17:39

So with this dinner table, in the platform you’ve created, what kind of work? Is it on the advisors part? You know, to get it out to them? Or is it simply they go to the website, and it’s all done for you. And they just click through it and learn from all the platforms and you know, it’s just being provided by them. So it’s really, you know, extremely simple to implement and engage no

Scott 18:03

talking like, a couple hours, and you have the back end hooked up. And you can one click throw in names and emails, and it automatically sends them their free like Link, like it’s that it’s that easy. And you can go as deep as you want with it. Because what we’re finding is that anybody who has their own family, they want to go through all the training, right, because some people are licensing our content to turn it into a six, seven figure business of coaching and selling and bringing in people and helping family but but people that want to give it to their clients, they don’t have to sell anything, they’re giving it to their clients as a benefit, and then getting a ton of referrals and prospects from it. And then at that point, we’re teaching you how to utilize the content to help your clients tell others about it, right. So and then it’s about prospecting and referrals and getting other right fit clients. So it’s as much as you want to do right use it for your own family, learn these skills for your own family, and then give them to your clients. It could be as simple as one click Email, here we go everybody and we add new courses and programs for them every few months, or it can be like we actually want to bring in our top clients for a workshop and it’s free for them and they get a free ticket for somebody else in their life to come as well. That’s worth 1000s of dollars and we’ll comp it because you get a free plus one our client and now you just got yourself dozens and dozens that’s a perfect fit client right? So it’s it can be as simple as you want to give the benefit to your client or it can be as deep as you want to go the level that it helps your business I think that every advisor in the world should have a family mitt because let me tell you this for saying everything I’ve studied about the advisement world of wealth manage people are actually coming to you to help their family you just don’t they don’t know how to explain it that way. But that’s what they’re coming to you for. They want you to secure and protect them and to sustain generate, right that’s what they want. But what they need is the content help pass on the mindsets and the skill sets to the family themselves. And if you know as an advisor that if all they do is die with millions and just give that to future generations, there’s a very good chance that most of it will be pissed away and then It might not do them the service that you want it

Bryan 20:02

to. Yeah, well, that’s what the statistics would tell you. That’s right. But if you can

Scott 20:05

give not just that, but all the training as well, so that people are qualified for it and prepared for it, and appreciative of it and have deeper relationships in the family, now you’ve got a winning combo.

Bryan 20:16

I totally agree, I think, you know, amazing to get the whole family involved. Have you found that, you know, like, grandparents, this has been a good thing for them also, because we get a lot of interest from grandparents, for whatever reason, and in this topic, and seems like it would, would resonate. And I didn’t know if there was any, you know, pros or cons with how the system was set up, that it was better for one or the other, or work just as well, for both

Scott 20:43

hundreds of grandparents are going through our workshop and our course they are giving gigs to their grandkids they are, they’re going through our foundations workshop, where we go through the core six strategies of family leg, we’re talking about value creation, we’re talking about the values, we’re talking about healing and relationships. We’re talking about the pay to appoint plan, how do you handle this with adult kids with grandkids? What’s the difference between an I Love You gift and a coasting gift, right? Like this is so powerful for gen one that has gen two and three below them? So yeah, we have a ton of grandparents going through the dinner table stuff. So literally, yeah, bring them in, oh, my goodness, go to that link. Now, if you’re a grandparent, you’re on the back end of this. Like, this is the best time for you to learn this stuff.

Bryan 21:25

And I think what you alluded to before about, you know, this is such a great way to get the information in front of parents. But if you did these workshops and invited other people, what a great way to add value to others, but then also have an opportunity to have a lot more clients that see, you know, the good that you’re delivering. And, you know, that’s probably one of the number one things we hear from people is how do you get new clients? Or how do I replicate my ideal clients? Well, this is such an easy way of doing it that, you know, I think that’s the byproduct of that is probably pretty scary. Once you’ve done this for a while, obviously, the platform’s only, you know, a month or two old, but I think what you’ll find in talking to advisors after you’ve been doing this for a while, that the new business that floods in from people that they’ve gotten to introduce it to is just probably off the charts.

Scott 22:28

That’s right, if you want right fit client family, first clients, long term thinker clients, this is your way. Okay? I was just on the phone with, you know, because this is starting to go, I mean, I’m this is getting crazy, like, you know, we’re going through compliance with some, you know, 1010 to 80,000 broker groups already, right? Well, I’ll share with you one of them, Mutual of Omaha just had talked to, and they immediately asked us to headline their of their national sales symposium, but I said, Why, because I’m always curious, I want to hear you know, you, okay, you like this, maybe you’re a family person, and you think this is good. And the lady who’s running the whole thing, she goes, because you just served, you just solve three of our biggest problems that we’re trying to teach advisors, you said, number one, you just moved us away from transactional to transformational. Number two, you solve the prospecting referral game for right fit client. And then number three, anybody who is in a client that has lots of generations or a business of their own, that they want to train other people, you just made us, they’re here. And when you just solve those three things for our people, we need to figure out a deal where you can get to all of our people and train right now,

Bryan 23:34

you know, and both you and I are in strategic coach. And one of the things that Dan Sullivan, you know, always says is, who do you want to be a hero to, and talk about being able to be a hero to your clients? What better thing than that, and one of the other things, Scott is, you know, this is, as you said, is really taking off. But I just found it fascinating that one of the people that we’ve all all know the name that’s backing you and you were on stage with him recently was Tony Robbins. And, you know, that’s quite the Testament when you get Tony Robbins to stop one of his presentations and, and have you go on stage and, you know, tell his audience what you’re doing. So, you know, kudos to you for that. But I think it just shows the magnitude of what you’ve built and what effect it can have on kids and adults because we’re just not taught those skills in school. And so unless you’re in a somebody like myself as a financial advisor, or somebody like you that creates these things, you know, how do you learn and if you learn you usually probably learn from people that maybe you shouldn’t have learned from and you learn all the bad habits and then you transition those to your kids and then they, you know, go through life, not doing the right thing. So if you get them started, you know, that’s amazing, that you

Scott 24:57

and you nailed it and Tony said something that I I really hold close to my heart since he said it. You know, he gave us a glowing endorsement for everything we’re doing for dinner table.com and gravy stack, but he said something he said kids today, but I’m not just kids, millennials, Gen Z, anyone who goes on social media, it’s like their day trading entitlement and victimhood everywhere they go. That’s the currency of the day. And that is potentially one of the biggest threats to our society right now is an entire generations, not just one, but multiple generations coming up where victimhood and entitlement are the currency of the day. Wow. And the more I think about that, the more I go, wow, what is the antidote to that the antidote is the value creation mindset. That’s our book value creation kid, best seller, it’s gravy stacking dinner table, it’s what we’re doing, if you can train your kids to focus on finding ways to create value for everybody in their life, whether it’s material value, which is what you create and produce in the world, whether it’s emotional value, it’s how you think and feel help other people think and feel better, whether it’s spiritual value, getting people to connect to something outside their own selfish ego, right, a higher mission to God to a better calling, whatever, if we can teach our children to be thinking that way about the world around them. You can’t have entitlement with that you can’t have victimhood. So that’s why I feel like he gave us that stamp of approval is because very few people have a system that can get the next generation helped and trying to go to the school system is not actually the answer. Because there’s you can’t homework money we already talked about right can’t get a bunch of teachers who don’t even know this stuff to give children more homework to do this stuff doesn’t doesn’t work. And there’s a lot of schools doing amazing things. My wife was a first grade guy. But the point here is this stuff happens around the dinner table, not the desk at school.

Bryan 26:44

And it also gives family something to talk about at the dinner table. You know, sometimes they don’t talk because they don’t have anything, maybe positive to share. And so I find that kind of fascinating that, you know, here’s your framework for discussions at night when you’re sitting around the dinner table. So So you just mentioned the value creation book, which is also a another amazing thing that you’ve created. How does that tie in? With? Like the dinner table and gravy stack? Is it just like one extra tool? Or do you use that book in conjunction with something else to give it more effect? How would you go about that?

Scott 27:27

Yeah the book is part of our content inside of dinner table. And then we have courses at dinner table, the home economy course how to set this up in your home, if you have kids, you know 22 And under, then we have our seven family money skills program. And that’s for all adults and and doesn’t matter if you have kids, grandkids, whatever. And then we have our workshop and all of the book content and all the few and I’ve got three books in the background here that aren’t even public yet. You know what’s crazy? Here’s how this whole thing started. For the last 10 years and all my companies we’ve had 7 million customers that are kids in pairs, I’ve been searching for the best 100 families that I can find in the world who has the best leg and legacy is not a financial numbers, not like Rothschilds and Vander that’s not what I’m talking about. Okay, cuz they got a lot of screwed up, fam. Alright. What I’m talking about legacy to me is having kids and grandkids and great grandkids that blow by the previous gen in every metric, the values of the family, the mindsets, the skill set, their financial competency, their impact in the world and their depth of relationship with the family. If you do that three, four times in a row, you’re doing some there’s something unique to your family and I wanted to hunt to figure out what it was. So we’ve been meeting with all these families for over a decade and I didn’t have any business I wasn’t going to do it for anything business related. I was just doing it personally because I want to have my four kids have a rockstar awesome family right? And my wife and I we want to learn this stuff crowdsource the best so I’ve got 300 pages of notes and what dinner table really is dinner table.com is the 18 strategies that we have pulled from the best in the world and if you implement if you implement those and gravy stack is a piece of it the book value creation kid that’s the first of the 18 strategies just so you know that create value first not money. That’s like the first strategy. But this if you do this man, it’s a recipe and it’s it doesn’t matter how much crazy has happened in your life, right? Because people all the time they think that they’re disqualified from having a great legacy and I’m saying you’re gonna have a legacy whether you like it or not, the question is you want a good one or a bad one. And it doesn’t matter what’s happened to you I don’t care if there’s divorce or bankruptcy or sick kids are a strange men or maybe you hate your in laws. You can you can start putting these tools like to practice in your life. And over time, this consistency compounds to have an unbelievable family for generations to come. It happens I’m watching it happen with 1000s of people now

Bryan 29:45

and the nice thing is, you know following your methodology, you get to control it instead of just letting whatever happens happens. So Scott, you had mentioned earlier, you know how to kind of get in touch with you And I think just so people hear that again, can you give people some information like how to how do we connect with you? We want to learn more about, you know, dinner table and the licensing and all this stuff that you’re doing and how to how to get involved with you. Like, what’s the best way to do that?

Scott 30:17

Yeah. So for starters, if you just want some like quick wins, you can follow me on social, I’m Scott Donald pretty easy, you can grab the book value creation kit on Amazon. Or you can download the app, if you’ve got kids under 22 years of age, those are the easy wins.

Bryan 30:33

And then in the app is gravy stack, right?

Scott 30:37

GravyStack is the app in the iOS, it’s in the US only right now we’re moving to other countries. And that will be a great starting point. Now my gift is let’s give everybody the 18 strat, you want to see the strategies, fill out that info dot dinner, table.com. Just go to that site, put your name and email and we’ll send it to you, we don’t spam anybody, we’ll give you that stuff. And if you want to book a conversation with one of our coaches, right, you want to talk to other licensees that do this, you want to learn more about how to give this to your clients, then that will probably be the longest benefit for your business and your clients that you could have. So if you want to go that route, just go to info dot dinner table.com. We’ll give it to you, we’ll have a conversation if you want one. And we’ll go there.

Bryan 31:16

and I can’t tell you enough that you definitely want those 18 strategies. That’s just fascinating material. And, you know, everybody will benefit by it. And in the interest of time, Scott, this has been so fascinating. I think we could chat for probably three or four hours on this. But before we wrap up, is there anything that I should have asked that I didn’t ask that would be impactful to our audience?

Scott 31:45

Yeah, let me let me just wrap up with this thought. If you have children 93% Of all the time that you ever get to spend with them is used up on average by the age of eight. And it’s up to you to give them the right skills and the right tool while they’re in your home. Because if you don’t teach them the right habits and the right skills at home, they’re going to learn the bad ones out in the real we’re seeing it happen by the hundreds of millions of Next Gen. Young people trying to figure this stuff out for themselves when they leave the house. So I want you to think if you have kids or grandkids, I want you to think of them as invest not expense. All right, this is a great tip in business. Your employees are investments not expense, your children are not just $317,000 to raise as an expense. They are a an investment for your future. And if you do it right, it reaps rewards for the rest of your time on Earth. And so I want that to sink into Pete because if they really see their family as their most important investment, which I do, right, you and I are similar like we are family, people with businesses, not business people with families. That’s right. And if you really identify with that, then I really want encourage you like get the help get the coaching go for it doesn’t have to be me go find somebody that can help your family thrive. Because if it is our number one investment on this earth, like let’s make it stick and make it count. Wow,

Bryan 33:01

I don’t know how I would in that any better than that. That was awesome. And for our audience, please check out info that dinner table.com. And Scott’s got some fascinating information. And I think once you see it, you’ll want to definitely get your clients involved in it. It’s it’s really, really, really well done. Scott, I just want to thank you for your time, and all your efforts over the last 10 plus years to get this to market and help us better educate kids and families. And it’s been really long overdue, but we finally have the answer. And that’s what you’ve put together. So thanks for your time today. And look forward to seeing everybody on the next episode of The Ultimate advisor podcast. Have a great day.

Brittany Anderson 33:50

So that rounds out today’s episode of The Ultimate advisor podcast. We’re gonna catch you right back here next week. Hey there, Brittany Anderson here. If you are loving what you’re hearing on our ultimate advisor podcast, don’t keep us a secret. Share us with other advisors that you think would benefit from the messages that you are hearing. The easiest way to do that is to simply send them to ultimate advisor podcast.com. And if you want to learn a few other ways that we could potentially serve you as an advisor, go check out ultimate advisor mastermind.com. As always, we are so happy to have you here with us as part of the ultimate advisor community and we look forward to a continued relationship