How Much I Make is None of Your Business!

Friday, May 11th

 How old does your kid have to be before you let them in on your financial situation?

00:12:42

Transcript - Not for consumer use. Robot overlords only. Will not be accurate.

If you wanna adjusted successful child today unions mean AG's sit out how much money you you are at a yield my public money you have in the bank. It takes to be a successful at least person keeps probable pregnant you not tell your child what you guys. Is it gonna ask for every time he needs some. At the break much less practice XIWC. And that's BC is like this we want to wonders what his knee. He'd still be bloom passed away early news when. She was a secretary. Great Depression problem. She died and it turns out that she had amassed nine. The receiving. An investment wicket that'll be it's she's donating all of the money to causes extra club. Well let her husband a firefighter who was then can a schoolteacher. So these people we're very blue collar folks that are very proves. That great. Yeah but it went well. Now she'd get kids that's what's unique about the stories you see these stories that it's the ramseys the earlier but these huge lead single people who say that scattered never got married note it is not and it I thought they just had nieces and nephews and edit it I just. Children and had no idea is my biggest of kids are given money lake finally it but. How do you not. Eyes each shot field know that this money is there does not come soon. Your business what goes on member in the godfather. They told you. But family business which. Never discuss family business with the family. Mouth shut because your kids are gonna think direction they're gonna want money you. Bank account argument that you Robbie your kids of light that could have bettered themselves keeping quiet about this Cassel this time audio that I mean those are not saying. He do it that way when you're crow gave the will whatever but as your growing up can so understand my the only there was one thanks. I think like to hear kids like have an idea of how well you're doing but like. I mean that's all they need they don't you like a specific number. What age should you or kid you know how much money be used over. Never get another god damn bizarre like mildly and did this torturous thing that he had bank prime. And he would tea how much you made how much are reading cause and you can't have any. Banks. It thank you value things. I knew the value of nothing because I the first on a bad bad but that was my little world right sided dollar deals lives but I didn't know a person like you existent. With good looking tall for a working class pork. And that's my point that we roll Erica would you kick it up. However you live as normal to what you have which can afford to do me what everyone else is doing and folks have more than you are rich. Books that lesson he pork and you when everybody else should be thought that is kid and I thought that execute. But when you're into an age of having to support themselves here. Like they haven't store for them if they don't how much money you made while they were growing up what second had to reform there needs to be your money is gonna be their life. Need to be understanding of what these are words you can't teach value and what money can bot so what does he need to know what's in the bank because eventually what I make a what I do over investing or not. Mr. right. Roster who don't invest because I don't know most people the pitcher the pitcher this point there you go kid broke and I think most people live paycheck to paycheck and part of it is not knowing how to handle money truly part of it is the slight dip but that's right easy. You you have very little. Financial advice from your father ex Hewlett more than anybody I know your father capture paychecks for you retreated did you spend money knows he he he did the exact opposite. He took all my money so I didn't know how to spend money. Then you were set gotten. We got a high school bus I had no idea how to spend excited and my parents may I didn't know what it's cost and such as C 1718 year old kid I was thrust out in the world and make it. Your own bed so you do know I know oh culture shock I had no idea. What might detonate. At what it would take to get to that financial point I'd like. So melt cheeseburger go make your uncle figure it out it's the stupidest thing you can only got to know every dollar I bring in just I think it's responsible thing to do to sit down your child this is what I take it had to do it junior. Imus funny America get ten dollars a tool in the bank is an arrest now. Get out of here is that doesn't work but it's 30000 dollars a year to take two dollars put in the bank reported that it doesn't work for everybody that way. You suture to doubt this is why make this spent the mortgage is the car and this will be spent on groceries and given them that information you're Robbie your chance in a financial plans and produce some if you are robbing you or chocolate and sugar rob thank him. That's what you actually you know what appraisal well adjusted fight each nobody's gonna Jessica look around and nobody is well though. Just because people think like you that either shape of my child you know what I ate during a business and it's all your kidneys your money cute it's my money. My our rules are rules. This is somebody I mean I grew up my dad. Preached saving money hidden always talked about money in men you know some think that I have no idea what's in my parents big county shouldn't. And I don't even want it out because that diplomacy could be discouraging for Beale a guy like. Todd Bethel far far so far from that that like why by eight going along with his plan of I'm never gonna reach that. It's a plant it's this is what I was able to do with this much money you need view. All horror when you for. If you Google out yet if you could have missiles while written Tran I think desolate I tried out. And they won't listen they're gonna take you have money you you had 101000 dollars in the bank and I need money okay usage we don't have any money like. It's like some people do. I still say it's so let's say use your kid sees you have X amount of dollars or month and a bankers back Arian and the checking account and and they once of the you don't know where you got money. Yes in my like and I have some wins that argument is that most discussions Yorke can have a kid is we don't have money all of the hard work that I do this is what it equals in this is what the world cost you leader kid needs to tell you think you can teach all that without them showing that yeah you bank accounts yes savings statements are not savings are. The fact a year. Oh win holding your credit cards. Loudly let's say let's hear your parent you're trying to teach your kid. How to pay for their college loans or something like that right while you're kid knows. That you have enough money in the bank to pay off Mike called load and you're just that their withholding it from may. Like bead that might. You know that's your yes no I'm sitting here with two people who feel entitled the things that aren't they are you Tommy got a boat would you I kid but I think your parents take your lumps like the paint pretty you know both of you at this cannot clearly that you think they should hit them but it's just like it would. It would best had a little bit knowing that money is they're sitting there and like I I and I'm living paycheck to paycheck to paintings to pay for things that took B lobby to this point that's why don't wanna know I just when wanna know what the man permanently if I don't. Show you anything I can jive you into doing things. That I need to do right so if you don't know anything about my finances I can make up but whatever I want about my financial echoed and then. Creating storyline so let's say I'm I don't wealthy. I don't my kid to know that ray and you are doing okay right now why crime for. So the kid doesn't understood anatomy like so much about bright but the thing is he had. Did you think grace until my dad. But you know might know might find new or my father made secret court while he he he basically. Made you feel like crap for night I budget this is what I did for you does what I spent on you which is which are telling people to duplicate now. It's one I'm not Taiwan I'm telling you don't tell them anything. Quite just be like the mob. I has he not that I cannot know we're so also that the mob it's crank it going to refuted the 1970s Iran fire. Tell your kids today UTL. Betting pats as shown everyday and rich is that CNN rich cleaning out. 80%. And tempers are Indian and so I got him. I tell my kids watch an eight. In either in their late teens. Because while college bound are like in my daughter in college I wanna get a grasp. What degree it and coming out of college what you've gotten eight she's seen. Your current you know situation. I think that hugely important is. College where. I don't know why ebony degree. You know just completely lost. But on the other side I don't column when I in my account of what. You know ought to wait. It. 10. I. Felt it matters much you know yourself home bills. Alone. Well in and out when it would be eight. Eldredge 200. Dollars a month and the district snatching whatever you want to do on. Yeah. And it's got to be three pills a month periods that jet Rick Scott. I don't let it takes a called the regulate pretty adamant I take three trillion point he has money but he doesn't it tell them it's in the bank but he shows is key to what makes it that's different though than knowing how much guts. Dash anyway don't work and work and I would I would do the money don't Steve is in the breaker Nancy I think Steve. Oh I got done and it hit none of their business. Are dead straight to get a job. A a couple of region. One is because. My dad made 26000 dollar note that money back that and Atlantic dot Dodgers great in about your well so I'm gonna make it irrelevant to what they're gonna make and what they see. But Steve how old are you right now. Mean I or. How do you get you gotta teach them the value is now. Give them that gap and it get a lot may convict George reveal how they realize that work equal money equals not. Work equals money equal stuff isn't good enough because let's if you pick ten dollars a week working equals money equal stuff Michael wild stuff I want but at 101215. What kids don't understand what I never understood it was a is there's money automatically comes off a roof over my head where her car for food for groceries so when he speaks the only way you can illustrate that your child is to give the wallets in the charge them for the food they eat the roof over their head I would like driving that Robin that's got to get my mom money back a bit. Each brought it back. Teach them how to went back. But ST the call I appreciate this that you want teaching that's not the best guys don't invest it really know investments gambling. It's. Sending him money I can see that you put in the bank you say real and if you need every day case some snaps yet. Before move on to penny starts. Do you have patty your. Are you with the skulls going to be called him and I should let your kids know. What they'd what you make things they can be well adjusted financial adult we're standing. Continents title again will think are the first Greek men and there are Greek yes bureaus and CM that's Spiro Holler. It would do and I got to Obama. Yeah. They are out are the telemarketer or about five years it's amazing how many. Kid my age like thirty and undergo an all out decree credit. Or budget that in their money so. I think it's about about the parity our ability to teach about the budget the money. Well prepared properly don't know either but that's so I can't ladies and you idiots. But I think that you know what you make of the parent that none of the cabinet but it should be something date usability kids. There's sought armada budget are big aren't as. And now I want something that the work for about how great the outsourcing their work in my case. It's a physical electric well again I think word people confuse. Going love like your daughters and no. The little pathetic check you may not do running your Mal I do you know that is that they're gonna go what does mommy do. I wanted to tell him to have said Europe yes I do I want to huge addition she and fortunately you know Lou Beatty checked on this subject McChrystal. Oregon doesn't sit too little Britons and two sub licensee chick goes to my mortgage matures. Amend between. Amid transition. Has goes into his closet. Along with Tommy every weekend.
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