Megan Russell on Setting Your Children Up for Financial Success (#020)

Megan Russell, COO of Marotta Wealth Management (and my sister) discusses how your parenting can influence your child’s future relationship to money. 

Megan shares experiences from her own parenting as we discuss our own beliefs surrounding money, how we can set ourselves up for financial success, and empowering our children to have healthy financial futures.

Topics Discussed In This Episode:

• [1:19] How early you start setting up your children for financial success 
• [2:52] Habits you can create with money that your children can emulate 
• [6:45] How to give children the opportunity to make their own choices about money 
• [9:38] How to help your children navigate through the challenging aspects of money 
• [14:27] Handling your child’s questions about making money 
• [21:50] How to guide your kids to find a career they’re interested in
• [23:29] How to support your kids in careers you may not understand 
• [26:28] How to foster entrepreneurial skills in your child 
• [30:00] Criticisms of the Millennial generation 
• [31:20] How to handle changes in beliefs around money 
• [34:21] What you can do to give your kids a good start with money
• [37:26] Easy things you can do to understand personal finance
• [39:17] How crypto-currencies can be a part of your savings plan 
• [41:20] Where to put your money to save for your kids 
• [44:08] How to support your children financially without spoiling them
• [49:20] Identifying and reframing your beliefs about money 
• [56:09] How to not use money as a punishment 

Resources:

• Megan's Bio
• Marotta Wealth Management 
• Megan's articles on personal finance and wealth management
• Marotta Wealth management videos, tutorials, and talks on Youtube
• Seven Lessons School Teacher by John Taylor Gatto
• Morningstar Study

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