Aug. 19, 2025
120: How Wealthy Parents Raise Their Kids (Without Spoiling Them)
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70% of wealthy families lose everything by the second generation. I could be one of them.
I’m Christopher Nelson, and despite building a $7M cash-flowing portfolio and going through three tech IPOs, none of it prepared me for the realization that I might be raising kids who would destroy it all.
Living in Silicon Hills—Austin’s tech bubble—my three sons were growing up in luxury, worried more about iPad batteries than anything real. Like many high-earning parents, I thought I was doing enough: financial literacy apps, savings accounts, investment talks. But I realized I was actually creating entitled kids, not financially responsible ones.
That’s when everything changed.
Transcript
WEBVTT
00:00.351 --> 00:05.296
[SPEAKER_00]: seventy percent of wealthy families lose everything by the second generation.
00:05.616 --> 00:12.663
[SPEAKER_00]: I was about to become one of them until a fifteen thousand dollar decision with my three kids changed everything.
00:13.584 --> 00:14.665
[SPEAKER_00]: I'm Christopher Nelson.
00:15.165 --> 00:22.933
[SPEAKER_00]: I've been through three tech IPOs, live off the cash flow from my seven million dollar portfolio, and now help other high earners
00:23.573 --> 00:25.194
[SPEAKER_00]: manage their wealth like a business.
00:25.614 --> 00:33.398
[SPEAKER_00]: But none of that mattered when I realized I might be raising the exact kids who would destroy everything I'd built.
00:33.918 --> 00:35.579
[SPEAKER_00]: See, I live in Silicon Hills.
00:35.979 --> 00:39.621
[SPEAKER_00]: That's what we call the wealthy part of Austin where tucked money landed.
00:39.861 --> 00:50.207
[SPEAKER_00]: My three boys age nine, nine and ten lived in this perfect bubble where their biggest worry was whether their iPad was charged enough for the next gaming session.
00:50.467 --> 00:52.168
[SPEAKER_00]: And here's the terrifying part
00:52.888 --> 00:56.490
[SPEAKER_00]: That wealth destruction statistic isn't random bad luck.
00:56.591 --> 01:03.375
[SPEAKER_00]: There's a specific reason why ninety percent of generation wealth disappears by the third generation.
01:03.615 --> 01:08.959
[SPEAKER_00]: And most wealthy parents are accidentally creating the problem they're trying to solve.
01:09.259 --> 01:13.482
[SPEAKER_00]: Most of us try to fix this with financial literacy, education,
01:14.122 --> 01:18.725
[SPEAKER_00]: custodial accounts, investment apps for kids, or allowance spreadsheets.
01:18.945 --> 01:20.406
[SPEAKER_00]: But here's the brutal truth.
01:20.586 --> 01:25.109
[SPEAKER_00]: This approach actually creates more entitled kids.
01:25.129 --> 01:25.189
[SPEAKER_00]: Why?
01:25.989 --> 01:29.591
[SPEAKER_00]: Because you're teaching them that money is about money.
01:29.832 --> 01:38.037
[SPEAKER_00]: You're making wealth abstract, theoretical, something that exists in accounts and apps, but wealthy kids already lives surrounded by abundance.
01:38.257 --> 01:40.598
[SPEAKER_00]: They don't need to understand compound interest.
01:40.818 --> 01:43.460
[SPEAKER_00]: They need to understand impact.
01:43.970 --> 01:50.316
[SPEAKER_00]: The real problem, wealthy kids grow up disconnected from what money can actually create.
01:50.537 --> 01:53.600
[SPEAKER_00]: They don't know the positive impact that it can have on the world.
01:53.780 --> 01:58.424
[SPEAKER_00]: They see wealth is something to spend, but not something to multiply.
01:58.685 --> 02:01.547
[SPEAKER_00]: They become consumers instead of creators.
02:01.808 --> 02:03.569
[SPEAKER_00]: And I was about to make the same mistake
02:04.230 --> 02:07.793
[SPEAKER_00]: until one conversation with my wife changed everything.
02:08.013 --> 02:12.356
[SPEAKER_00]: In twenty twenty three, I looked at my boys and realized we had a crisis.
02:12.576 --> 02:16.199
[SPEAKER_00]: They were surrounded by abundance that they'd never questioned.
02:16.580 --> 02:21.944
[SPEAKER_00]: So my wife and I made a choice that confused our friends and frankly concern some family members.
02:22.284 --> 02:25.626
[SPEAKER_00]: Instead of taking the family the Disneyland like we'd planned,
02:26.447 --> 02:30.631
[SPEAKER_00]: I spent fifteen thousand dollars to book flights to Uganda.
02:30.851 --> 02:34.915
[SPEAKER_00]: Not only for sightseeing, not for adventure, for service.
02:35.255 --> 02:38.438
[SPEAKER_00]: I'll be honest, I was terrified with this traumatized them.
02:39.199 --> 02:40.440
[SPEAKER_00]: Was I pushing too hard?
02:40.721 --> 02:42.823
[SPEAKER_00]: But I knew something had to shift.
02:43.363 --> 02:48.564
[SPEAKER_00]: and just talking about it or watching videos on YouTube wasn't going to cut it.
02:48.864 --> 02:57.766
[SPEAKER_00]: They needed first hand boots on the ground experience that money could make a positive impact on people in the world that truly needed it.
02:57.926 --> 03:04.848
[SPEAKER_00]: We partnered with the Ugandan Water Project and what happened next broke my heart and rebuilt it at the same time.
03:05.328 --> 03:12.450
[SPEAKER_00]: My boys met children, their exact age, nine and ten years old, who spent hours each day just finding clean water.
03:13.490 --> 03:18.793
[SPEAKER_00]: Kids who miss school because they were boiling and cleaning water, their families needed to survive.
03:19.173 --> 03:20.333
[SPEAKER_00]: But then something clicked.
03:21.194 --> 03:26.316
[SPEAKER_00]: My middle son turned to me and said, Dad, how much money does it cost to build a well here?
03:26.757 --> 03:33.120
[SPEAKER_00]: When I told him that it was less than what some family spent on a weekend, trips somewhere, his face changed.
03:33.320 --> 03:35.221
[SPEAKER_00]: That's when the first shift happened.
03:35.621 --> 03:39.303
[SPEAKER_00]: When I now call, developing global perspective.
03:40.103 --> 03:41.964
[SPEAKER_00]: My boys weren't learning about poverty.
03:42.624 --> 03:49.448
[SPEAKER_00]: They were discovering that problems have solutions and wealth is often the key that enlocks them.
03:49.748 --> 03:57.972
[SPEAKER_00]: They watch kids their age transform from water carriers to students when simple infrastructure freed up their time.
03:58.312 --> 04:04.055
[SPEAKER_00]: The conversationer house shifted overnight instead of asking how much does it cost?
04:04.890 --> 04:09.313
[SPEAKER_00]: They started asking, how much impact could this create?
04:09.773 --> 04:12.935
[SPEAKER_00]: When we got home, I had to know if we made the right choice.
04:13.275 --> 04:14.455
[SPEAKER_00]: I asked the boys directly.
04:14.555 --> 04:18.438
[SPEAKER_00]: We spent the money to take you to Uganda instead of Disneyland.
04:19.147 --> 04:22.088
[SPEAKER_00]: Do you think that we made the right decision without hesitation?
04:22.748 --> 04:23.788
[SPEAKER_00]: All three said yes.
04:24.228 --> 04:25.429
[SPEAKER_00]: That was just the beginning.
04:25.649 --> 04:32.071
[SPEAKER_00]: Now you might be thinking, that's a nice story Christopher, but how does this actually save my family's wealth?
04:32.431 --> 04:33.511
[SPEAKER_00]: Here's the connection.
04:33.771 --> 04:38.992
[SPEAKER_00]: Every wealthy family that loses their generational wealth fails at the same point.
04:39.392 --> 04:40.713
[SPEAKER_00]: It's not that investments.
04:41.293 --> 04:42.733
[SPEAKER_00]: It's not market crashes.
04:43.353 --> 04:45.174
[SPEAKER_00]: It's not even poor financial planning.
04:45.314 --> 04:51.935
[SPEAKER_00]: It's the moment the next generation sees wealth as entitlement instead of a responsibility.
04:52.175 --> 05:01.176
[SPEAKER_00]: It's when kids grew up thinking money exists to serve them instead of understanding they exist to serve something bigger through their money.
05:01.397 --> 05:09.518
[SPEAKER_00]: That shift in Uganda, that was the exact moment my boys moved from potential wealth destroyers to wealth multipliers.
05:09.798 --> 05:12.359
[SPEAKER_00]: and I realized there was a repeatable system behind it.
05:12.559 --> 05:16.081
[SPEAKER_00]: So I started reverse engineering what actually happened.
05:16.221 --> 05:23.064
[SPEAKER_00]: What were the specific shifts that transformed my boy's relationship with their wealth and could other families replicate this?
05:23.284 --> 05:33.769
[SPEAKER_00]: What I discovered is that wealth responsibility, the thing that actually prevents generational wealth destruction comes down to four specific mindsets shifts.
05:34.149 --> 05:35.150
[SPEAKER_00]: And here's the crazy part.
05:35.950 --> 05:39.412
[SPEAKER_00]: They all happen naturally through that one experience.
05:39.693 --> 05:41.854
[SPEAKER_00]: First, global perspective.
05:42.174 --> 05:45.216
[SPEAKER_00]: And this isn't about guilt trips or making kids feel bad.
05:45.537 --> 05:53.922
[SPEAKER_00]: It's about expanding the reference point beyond their zip code so they can see how other people live work and solve problems.
05:54.123 --> 05:59.987
[SPEAKER_00]: When my boy saw kids their age carrying water, instead of going to school, they didn't feel guilty.
06:00.587 --> 06:01.448
[SPEAKER_00]: They felt curious.
06:02.248 --> 06:07.233
[SPEAKER_00]: They started asking better questions about systems, infrastructure, and opportunity.
06:07.453 --> 06:15.301
[SPEAKER_00]: So to continue providing them with this global perspective, we now plan multiple service experiences annually.
06:15.601 --> 06:17.123
[SPEAKER_00]: It doesn't have to be international.
06:17.303 --> 06:18.844
[SPEAKER_00]: We've done local food banks.
06:19.545 --> 06:22.608
[SPEAKER_00]: homeless shelters and community rebuilding projects.
06:22.929 --> 06:27.193
[SPEAKER_00]: The key is consistent exposure to different realities.
06:27.654 --> 06:36.603
[SPEAKER_00]: Second is the impact investing mindset, framing giving as investment with measurable outcomes, not charity.
06:36.803 --> 06:41.768
[SPEAKER_00]: We stop saying donate to charity and started saying invest in solutions.
06:42.609 --> 06:46.172
[SPEAKER_00]: My boys now track our family giving like any other investment.
06:46.333 --> 06:53.679
[SPEAKER_00]: They want to see impact reports, measure outcomes, and even suggest pivots when something isn't working.
06:53.759 --> 06:56.962
[SPEAKER_00]: They're thinking like entrepreneurs about social problems.
06:57.202 --> 06:59.425
[SPEAKER_00]: Third, problem-solving development.
07:00.025 --> 07:04.690
[SPEAKER_00]: helping kids see challenges as opportunities instead of just obstacles.
07:04.870 --> 07:07.633
[SPEAKER_00]: The Uganda trip sparked something I hadn't expected.
07:07.853 --> 07:13.719
[SPEAKER_00]: My kids started seeing problems everywhere, but instead of being overwhelmed, they got excited.
07:14.360 --> 07:20.606
[SPEAKER_00]: They came home asking why clean water was so hard to deliver and whether technology could make it cheaper.
07:20.946 --> 07:24.809
[SPEAKER_00]: and how many communities could benefit from better systems.
07:24.929 --> 07:29.693
[SPEAKER_00]: They'd shifted from passive consumers to active creators.
07:30.053 --> 07:40.122
[SPEAKER_00]: And now we dedicate family time to exploring solutions, not just problems, whether it's water scarcity, educational access, or local community issues,
07:40.782 --> 07:44.563
[SPEAKER_00]: We research what's being tried and what gaps still exist.
07:44.984 --> 07:48.105
[SPEAKER_00]: The fourth is intentional legacy building.
07:48.525 --> 07:57.528
[SPEAKER_00]: Understanding that generational wealth isn't just about passing down assets, but passing down the wisdom to use those assets meaningfully.
07:57.848 --> 08:00.929
[SPEAKER_00]: This connects with everything we do in wealth management.
08:01.149 --> 08:03.389
[SPEAKER_00]: Our family mission became clear.
08:03.709 --> 08:09.111
[SPEAKER_00]: Our wealth exists to create impact in opportunity, both for our family and for others.
08:09.251 --> 08:13.012
[SPEAKER_00]: The more our wealth grows, the more people we can impact.
08:13.272 --> 08:21.434
[SPEAKER_00]: My boys now understand they're not just inheriting money, they're inheriting responsibility and opportunity to make a difference.
08:21.754 --> 08:23.574
[SPEAKER_00]: But here's what shocked me most.
08:23.914 --> 08:27.255
[SPEAKER_00]: These shifts happen naturally through the experience.
08:28.256 --> 08:31.018
[SPEAKER_00]: Not through lectures, apps, or spreadsheets.
08:31.379 --> 08:34.682
[SPEAKER_00]: You can't force teach this stuff you have to live it.
08:34.923 --> 08:37.045
[SPEAKER_00]: And here's a bonus that you might not expect.
08:37.685 --> 08:42.991
[SPEAKER_00]: Service trips structured through registered charities can be taxed deductible.
08:43.171 --> 08:50.579
[SPEAKER_00]: Now, we're not doing this for tax benefits, but it's worth knowing that the IRS recognizes the value of this education.
08:50.839 --> 08:56.727
[SPEAKER_00]: More importantly, this approach has transformed the type of clients that I attract in Walthops.
08:57.027 --> 09:03.636
[SPEAKER_00]: When people see that your wealth building connects to genuine impact, everything changes.
09:03.876 --> 09:06.199
[SPEAKER_00]: You don't need to book flights so you got it tomorrow.
09:06.700 --> 09:11.221
[SPEAKER_00]: But you can start breaking your kids out of the privilege bubble this month.
09:11.561 --> 09:16.122
[SPEAKER_00]: First, research local service opportunities, your family can do together.
09:16.362 --> 09:20.263
[SPEAKER_00]: Food banks, homeless shelters, community rebuilding projects.
09:20.603 --> 09:26.705
[SPEAKER_00]: The key is consistent exposure to different realities where they can see problems being solved.
09:27.505 --> 09:28.125
[SPEAKER_00]: Real-time.
09:28.466 --> 09:36.970
[SPEAKER_00]: Second, stop talking about charity and start talking about impact, include your kids and discussions about outcomes and results.
09:37.250 --> 09:40.912
[SPEAKER_00]: Let them help research organizations and suggest improvements.
09:41.112 --> 09:45.875
[SPEAKER_00]: Third, ask your children what problems they notice in their school.
09:46.295 --> 09:50.378
[SPEAKER_00]: community or the world then ask them what solutions they can imagine.
09:50.498 --> 09:53.780
[SPEAKER_00]: Help them think like creators and not just consumers.
09:54.140 --> 09:58.463
[SPEAKER_00]: The goal isn't to make your kids feel guilty about their advantages.
09:58.743 --> 10:07.028
[SPEAKER_00]: It's to help them understand that with great opportunity comes great responsibility and incredible potential for impact.
10:07.248 --> 10:09.650
[SPEAKER_00]: We're not trying to raise kids who are afraid of wealth.
10:10.403 --> 10:15.365
[SPEAKER_00]: were raising future leaders who see wealth as a tool for transformation.
10:15.525 --> 10:25.968
[SPEAKER_00]: The statistics are clear, ninety percent of generational wealth disappears because kids never learn what money is really for, but you can be the parent who breaks that cycle.
10:26.248 --> 10:36.111
[SPEAKER_00]: If you have one to thirty million dollars net worth and want to avoid becoming part of that seventy percent statistic, while building a legacy your kids will be proud to inherit,
10:36.751 --> 10:40.756
[SPEAKER_00]: head to wealthops.io and click the link below this video.
10:40.896 --> 10:47.464
[SPEAKER_00]: Or if you want to learn more about how we manage our wealth with a micro family office, you should check out this video.
00:00.351 --> 00:05.296
[SPEAKER_00]: seventy percent of wealthy families lose everything by the second generation.
00:05.616 --> 00:12.663
[SPEAKER_00]: I was about to become one of them until a fifteen thousand dollar decision with my three kids changed everything.
00:13.584 --> 00:14.665
[SPEAKER_00]: I'm Christopher Nelson.
00:15.165 --> 00:22.933
[SPEAKER_00]: I've been through three tech IPOs, live off the cash flow from my seven million dollar portfolio, and now help other high earners
00:23.573 --> 00:25.194
[SPEAKER_00]: manage their wealth like a business.
00:25.614 --> 00:33.398
[SPEAKER_00]: But none of that mattered when I realized I might be raising the exact kids who would destroy everything I'd built.
00:33.918 --> 00:35.579
[SPEAKER_00]: See, I live in Silicon Hills.
00:35.979 --> 00:39.621
[SPEAKER_00]: That's what we call the wealthy part of Austin where tucked money landed.
00:39.861 --> 00:50.207
[SPEAKER_00]: My three boys age nine, nine and ten lived in this perfect bubble where their biggest worry was whether their iPad was charged enough for the next gaming session.
00:50.467 --> 00:52.168
[SPEAKER_00]: And here's the terrifying part
00:52.888 --> 00:56.490
[SPEAKER_00]: That wealth destruction statistic isn't random bad luck.
00:56.591 --> 01:03.375
[SPEAKER_00]: There's a specific reason why ninety percent of generation wealth disappears by the third generation.
01:03.615 --> 01:08.959
[SPEAKER_00]: And most wealthy parents are accidentally creating the problem they're trying to solve.
01:09.259 --> 01:13.482
[SPEAKER_00]: Most of us try to fix this with financial literacy, education,
01:14.122 --> 01:18.725
[SPEAKER_00]: custodial accounts, investment apps for kids, or allowance spreadsheets.
01:18.945 --> 01:20.406
[SPEAKER_00]: But here's the brutal truth.
01:20.586 --> 01:25.109
[SPEAKER_00]: This approach actually creates more entitled kids.
01:25.129 --> 01:25.189
[SPEAKER_00]: Why?
01:25.989 --> 01:29.591
[SPEAKER_00]: Because you're teaching them that money is about money.
01:29.832 --> 01:38.037
[SPEAKER_00]: You're making wealth abstract, theoretical, something that exists in accounts and apps, but wealthy kids already lives surrounded by abundance.
01:38.257 --> 01:40.598
[SPEAKER_00]: They don't need to understand compound interest.
01:40.818 --> 01:43.460
[SPEAKER_00]: They need to understand impact.
01:43.970 --> 01:50.316
[SPEAKER_00]: The real problem, wealthy kids grow up disconnected from what money can actually create.
01:50.537 --> 01:53.600
[SPEAKER_00]: They don't know the positive impact that it can have on the world.
01:53.780 --> 01:58.424
[SPEAKER_00]: They see wealth is something to spend, but not something to multiply.
01:58.685 --> 02:01.547
[SPEAKER_00]: They become consumers instead of creators.
02:01.808 --> 02:03.569
[SPEAKER_00]: And I was about to make the same mistake
02:04.230 --> 02:07.793
[SPEAKER_00]: until one conversation with my wife changed everything.
02:08.013 --> 02:12.356
[SPEAKER_00]: In twenty twenty three, I looked at my boys and realized we had a crisis.
02:12.576 --> 02:16.199
[SPEAKER_00]: They were surrounded by abundance that they'd never questioned.
02:16.580 --> 02:21.944
[SPEAKER_00]: So my wife and I made a choice that confused our friends and frankly concern some family members.
02:22.284 --> 02:25.626
[SPEAKER_00]: Instead of taking the family the Disneyland like we'd planned,
02:26.447 --> 02:30.631
[SPEAKER_00]: I spent fifteen thousand dollars to book flights to Uganda.
02:30.851 --> 02:34.915
[SPEAKER_00]: Not only for sightseeing, not for adventure, for service.
02:35.255 --> 02:38.438
[SPEAKER_00]: I'll be honest, I was terrified with this traumatized them.
02:39.199 --> 02:40.440
[SPEAKER_00]: Was I pushing too hard?
02:40.721 --> 02:42.823
[SPEAKER_00]: But I knew something had to shift.
02:43.363 --> 02:48.564
[SPEAKER_00]: and just talking about it or watching videos on YouTube wasn't going to cut it.
02:48.864 --> 02:57.766
[SPEAKER_00]: They needed first hand boots on the ground experience that money could make a positive impact on people in the world that truly needed it.
02:57.926 --> 03:04.848
[SPEAKER_00]: We partnered with the Ugandan Water Project and what happened next broke my heart and rebuilt it at the same time.
03:05.328 --> 03:12.450
[SPEAKER_00]: My boys met children, their exact age, nine and ten years old, who spent hours each day just finding clean water.
03:13.490 --> 03:18.793
[SPEAKER_00]: Kids who miss school because they were boiling and cleaning water, their families needed to survive.
03:19.173 --> 03:20.333
[SPEAKER_00]: But then something clicked.
03:21.194 --> 03:26.316
[SPEAKER_00]: My middle son turned to me and said, Dad, how much money does it cost to build a well here?
03:26.757 --> 03:33.120
[SPEAKER_00]: When I told him that it was less than what some family spent on a weekend, trips somewhere, his face changed.
03:33.320 --> 03:35.221
[SPEAKER_00]: That's when the first shift happened.
03:35.621 --> 03:39.303
[SPEAKER_00]: When I now call, developing global perspective.
03:40.103 --> 03:41.964
[SPEAKER_00]: My boys weren't learning about poverty.
03:42.624 --> 03:49.448
[SPEAKER_00]: They were discovering that problems have solutions and wealth is often the key that enlocks them.
03:49.748 --> 03:57.972
[SPEAKER_00]: They watch kids their age transform from water carriers to students when simple infrastructure freed up their time.
03:58.312 --> 04:04.055
[SPEAKER_00]: The conversationer house shifted overnight instead of asking how much does it cost?
04:04.890 --> 04:09.313
[SPEAKER_00]: They started asking, how much impact could this create?
04:09.773 --> 04:12.935
[SPEAKER_00]: When we got home, I had to know if we made the right choice.
04:13.275 --> 04:14.455
[SPEAKER_00]: I asked the boys directly.
04:14.555 --> 04:18.438
[SPEAKER_00]: We spent the money to take you to Uganda instead of Disneyland.
04:19.147 --> 04:22.088
[SPEAKER_00]: Do you think that we made the right decision without hesitation?
04:22.748 --> 04:23.788
[SPEAKER_00]: All three said yes.
04:24.228 --> 04:25.429
[SPEAKER_00]: That was just the beginning.
04:25.649 --> 04:32.071
[SPEAKER_00]: Now you might be thinking, that's a nice story Christopher, but how does this actually save my family's wealth?
04:32.431 --> 04:33.511
[SPEAKER_00]: Here's the connection.
04:33.771 --> 04:38.992
[SPEAKER_00]: Every wealthy family that loses their generational wealth fails at the same point.
04:39.392 --> 04:40.713
[SPEAKER_00]: It's not that investments.
04:41.293 --> 04:42.733
[SPEAKER_00]: It's not market crashes.
04:43.353 --> 04:45.174
[SPEAKER_00]: It's not even poor financial planning.
04:45.314 --> 04:51.935
[SPEAKER_00]: It's the moment the next generation sees wealth as entitlement instead of a responsibility.
04:52.175 --> 05:01.176
[SPEAKER_00]: It's when kids grew up thinking money exists to serve them instead of understanding they exist to serve something bigger through their money.
05:01.397 --> 05:09.518
[SPEAKER_00]: That shift in Uganda, that was the exact moment my boys moved from potential wealth destroyers to wealth multipliers.
05:09.798 --> 05:12.359
[SPEAKER_00]: and I realized there was a repeatable system behind it.
05:12.559 --> 05:16.081
[SPEAKER_00]: So I started reverse engineering what actually happened.
05:16.221 --> 05:23.064
[SPEAKER_00]: What were the specific shifts that transformed my boy's relationship with their wealth and could other families replicate this?
05:23.284 --> 05:33.769
[SPEAKER_00]: What I discovered is that wealth responsibility, the thing that actually prevents generational wealth destruction comes down to four specific mindsets shifts.
05:34.149 --> 05:35.150
[SPEAKER_00]: And here's the crazy part.
05:35.950 --> 05:39.412
[SPEAKER_00]: They all happen naturally through that one experience.
05:39.693 --> 05:41.854
[SPEAKER_00]: First, global perspective.
05:42.174 --> 05:45.216
[SPEAKER_00]: And this isn't about guilt trips or making kids feel bad.
05:45.537 --> 05:53.922
[SPEAKER_00]: It's about expanding the reference point beyond their zip code so they can see how other people live work and solve problems.
05:54.123 --> 05:59.987
[SPEAKER_00]: When my boy saw kids their age carrying water, instead of going to school, they didn't feel guilty.
06:00.587 --> 06:01.448
[SPEAKER_00]: They felt curious.
06:02.248 --> 06:07.233
[SPEAKER_00]: They started asking better questions about systems, infrastructure, and opportunity.
06:07.453 --> 06:15.301
[SPEAKER_00]: So to continue providing them with this global perspective, we now plan multiple service experiences annually.
06:15.601 --> 06:17.123
[SPEAKER_00]: It doesn't have to be international.
06:17.303 --> 06:18.844
[SPEAKER_00]: We've done local food banks.
06:19.545 --> 06:22.608
[SPEAKER_00]: homeless shelters and community rebuilding projects.
06:22.929 --> 06:27.193
[SPEAKER_00]: The key is consistent exposure to different realities.
06:27.654 --> 06:36.603
[SPEAKER_00]: Second is the impact investing mindset, framing giving as investment with measurable outcomes, not charity.
06:36.803 --> 06:41.768
[SPEAKER_00]: We stop saying donate to charity and started saying invest in solutions.
06:42.609 --> 06:46.172
[SPEAKER_00]: My boys now track our family giving like any other investment.
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[SPEAKER_00]: They want to see impact reports, measure outcomes, and even suggest pivots when something isn't working.
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[SPEAKER_00]: They're thinking like entrepreneurs about social problems.
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[SPEAKER_00]: Third, problem-solving development.
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[SPEAKER_00]: helping kids see challenges as opportunities instead of just obstacles.
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[SPEAKER_00]: The Uganda trip sparked something I hadn't expected.
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[SPEAKER_00]: My kids started seeing problems everywhere, but instead of being overwhelmed, they got excited.
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[SPEAKER_00]: They came home asking why clean water was so hard to deliver and whether technology could make it cheaper.
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[SPEAKER_00]: and how many communities could benefit from better systems.
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[SPEAKER_00]: They'd shifted from passive consumers to active creators.
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[SPEAKER_00]: And now we dedicate family time to exploring solutions, not just problems, whether it's water scarcity, educational access, or local community issues,
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[SPEAKER_00]: We research what's being tried and what gaps still exist.
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[SPEAKER_00]: The fourth is intentional legacy building.
07:48.525 --> 07:57.528
[SPEAKER_00]: Understanding that generational wealth isn't just about passing down assets, but passing down the wisdom to use those assets meaningfully.
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[SPEAKER_00]: This connects with everything we do in wealth management.
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[SPEAKER_00]: Our family mission became clear.
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[SPEAKER_00]: Our wealth exists to create impact in opportunity, both for our family and for others.
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[SPEAKER_00]: The more our wealth grows, the more people we can impact.
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[SPEAKER_00]: My boys now understand they're not just inheriting money, they're inheriting responsibility and opportunity to make a difference.
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[SPEAKER_00]: But here's what shocked me most.
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[SPEAKER_00]: These shifts happen naturally through the experience.
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[SPEAKER_00]: Not through lectures, apps, or spreadsheets.
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[SPEAKER_00]: You can't force teach this stuff you have to live it.
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[SPEAKER_00]: And here's a bonus that you might not expect.
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[SPEAKER_00]: Service trips structured through registered charities can be taxed deductible.
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[SPEAKER_00]: Now, we're not doing this for tax benefits, but it's worth knowing that the IRS recognizes the value of this education.
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[SPEAKER_00]: More importantly, this approach has transformed the type of clients that I attract in Walthops.
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[SPEAKER_00]: When people see that your wealth building connects to genuine impact, everything changes.
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[SPEAKER_00]: You don't need to book flights so you got it tomorrow.
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[SPEAKER_00]: But you can start breaking your kids out of the privilege bubble this month.
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[SPEAKER_00]: First, research local service opportunities, your family can do together.
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[SPEAKER_00]: Food banks, homeless shelters, community rebuilding projects.
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[SPEAKER_00]: The key is consistent exposure to different realities where they can see problems being solved.
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[SPEAKER_00]: Real-time.
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[SPEAKER_00]: Second, stop talking about charity and start talking about impact, include your kids and discussions about outcomes and results.
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[SPEAKER_00]: Let them help research organizations and suggest improvements.
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[SPEAKER_00]: Third, ask your children what problems they notice in their school.
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[SPEAKER_00]: community or the world then ask them what solutions they can imagine.
09:50.498 --> 09:53.780
[SPEAKER_00]: Help them think like creators and not just consumers.
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[SPEAKER_00]: The goal isn't to make your kids feel guilty about their advantages.
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[SPEAKER_00]: It's to help them understand that with great opportunity comes great responsibility and incredible potential for impact.
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[SPEAKER_00]: We're not trying to raise kids who are afraid of wealth.
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[SPEAKER_00]: were raising future leaders who see wealth as a tool for transformation.
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[SPEAKER_00]: The statistics are clear, ninety percent of generational wealth disappears because kids never learn what money is really for, but you can be the parent who breaks that cycle.
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[SPEAKER_00]: If you have one to thirty million dollars net worth and want to avoid becoming part of that seventy percent statistic, while building a legacy your kids will be proud to inherit,
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[SPEAKER_00]: head to wealthops.io and click the link below this video.
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[SPEAKER_00]: Or if you want to learn more about how we manage our wealth with a micro family office, you should check out this video.
