Podcast: Smart Money Parenting (LS 40 · TOP 1.5% what is this?)
Episode: Giving While Living is Better Than Inheritance
Pub date: 2023-04-18

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What is the best way to pass on inheritance to your loved ones or the community? In today's episode, hosts Chad Willardson and Scott Donnell discuss the 7 ways giving while living can add fulfillment and joy to your life.

• Scott and Chad start the conversation by explaining why giving while living is better than an inheritance after you die.
• For Chad, giving while living is about sharing your wealth and knowledge while you're alive so you can see the impact your money has on people.
• Scott believes dying with lots of money in the bank doesn't help you achieve anything.
• Scott explains the benefits of sharing your wealth while you're alive - you don't want your heirs to wait impatiently for you to die.
• Chad shares a heartbreaking story of how a mother and son moved in for their loved one's money barely 12 hours after his death.
• According to Scott, the satisfaction you get from giving while living can extend your life expectancy and deepen your relationships with loved ones.
• Chad reveals why giving is not about giving your heirs what they want all the time - you risk spoiling them if you do.
• Chad explains why giving while living is more powerful than inheritance without education.
• Scott and Chad reveal the amount of money you would need to guarantee a stress-free retirement.
• Scott shares the most important money habit to teach your kids.
• Give authentically because your kids can tell when you're inauthentic.
• Scott talks about his grandfather's legacy and how he used his wealth to build a tight-knit family.

 

 

Mentioned in This Episode:

gravystack.com/smart

smartmoneyparenting.com

Smart, Not Spoiled: The 7 Money Skills Kids Must Master Before Leaving the Nest by Chad Willardson

Value Creation Kid: The Healthy Struggles Your Children Need to Succeed by Scott Donnell and Lee Benson

Scott Donnell on LinkedIn - https://www.linkedin.com/in/donnell-scott

Chad Willardson on LinkedIn - https://www.linkedin.com/in/chadwillardson

Scott Donnell on Instagram - @imscottdonnell

Chad Willardson on Instagram - @chad.willardson

Scott Donnell on TikTok - @imscottdonnell

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