Chad Willardson is the President of Pacific Capital, a fiduciary wealth advisory firm he founded in 2011 that serves entrepreneurs and families. His bestselling first book, Stress-Free Money, has been featured in Forbes’s “21 Books To Read In 2021” and on NBC News and Yahoo Finance. Chad has appeared in The Wall Street Journal, Inc., U.S. News & World Report, Investment News, Entrepreneur, and Financial Advisor Magazine. He lives in Southern California with his wife, Amber, and their five children.Main Topic NotesGive us a brief overview of how things have been for you since writing Stress-Free Money. What inspired you to focus your attention on financial education for children for your new book?At what age should parents be talking to their children about the skills you mention in your book?What are the seven skills kids should know before adulthood, in your professional opinion? Why are these skills important?What should parents teach their children about “money now vs. money later”?Speaking of being “smart, not spoiled,” (how) should parents distribute allowances to their children?What are some learning activities parents can do with their children to make learning about money fun?Recap / TakeawaysFiduciaries are different from financial advisors because they are legally required to look out for the clients best interest instead of selling a product like insuranceWays you can help your kids be smart with money:Give your kids 3 jars - spending saving givingStart having conversations with your kids about money younger7 things kids should know about moneyInvest early and oftenHire your kids to do work around the officeOpen a Roth IRA in their nameBorrow wiselyKnow your cash flow (income and expenses)Teach about how much stuff really costsTalking taxesTaxes are your #1 expense, so you better know your stuffLearn to earnCreate a menu of opportunity so your kids can earn moneyLet the kids go around and find a job to do and offer a priceProtect who and what you care aboutGive generouslyWhen you travel internationally, you could set aside a day for serviceMoney doesn't buy happiness, but it does give your more choices and freedoms. It gives more opportunity to make a greater impact for others.Action Item:Start having more conversations about personal finance in your family.Connect with ChadPacificCapital.comLinkedinGo to TheFridayHabit.com to find show notes for this episode. There you can also find links to our websites and ways to get in touch. At the bottom of the page you can download our guide to the Friday Habit system that will show you how to set aside one full day each week dedicated to working on your business instead of in your business.If you enjoyed this episode please subscribe and leave us a review in the Apple podcasts app.If you have a question or a topic you’d like us to cover don’t forget to record us a quick voice memo and send it to [email protected] for listening to The Friday Habit.Until next time. Live every day like it’s Friday.

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