Richard CanfieldPodcast Host and IBC Advisor, Ascendant Financial · Authorized Infinite Banking Practitioner | Author of 4 Books

Teach Your Kids Financial Independence

1 Jul 2024 · 1 min

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Richard Canfield and a co-host argue parents should focus on building their kids' financial independence and sphere of influence rather than controlling their life choices. They push back against pressuring children into college or other paths just for grants and money, emphasizing autonomy and outcomes parents can actually control.

Chapters

We want to consider where can you have a higher degree of influence on the outcomes and have far degree of higher control to be able to implement the things that you actually want to do, regardless of what your child decides they want to do? And I think that's really the direction that we want people to go so that they can have autonomy, peace of mind, freedom, and in just in general, have that feeling of complete and total decision making power at their hands.
One of the things we just want to encourage is to give your child the ability to make their decisions that is best for them. I think by that age they are able to think for themselves and they shouldn't be pigeonholed to forced to make a decision to go to, let's say, a post secondary school to make sure that they get the grant money. That is definitely one thing that is pretty important to see.