Today’s episode begins with a discussion about whose responsibility it is to teach children how to make smart decisions with finances. When a child leaves their house, the guys believe that their parents’ poverty is no longer theirs; they have an opportunity to break the cycle. 

 

It’s important to understand a process without letting emotions get involved. You must have patience to let the learning process play out. We hear about the steps that Joe had to go through to teach his daughter how to write her name. This is then compared to the preparation involved in recording a podcast, with Matt discussing fear of the unknown. Joe talks about other ways that he gets his children to step out of their comfort zone and Matt jumps in to give his thoughts on the feeling of accomplishment.

 

The final topic is how we always gravitate towards people we have common ground with, so Matt provides some reasons why he and Joe get along so well. We then hear about how dishonest investing will not get you rich due to certain consequences. Matt reflects on the advice that we may have received from our grandparents when we were young that we may neglect, before finishing the episode by explaining the compounding growth of an investor’s money.