Todd Polke, a 40-year-old father, argues that intergenerational wealth requires more than money. First-time home buyers now average 36 years old, and he worries central bank digital currencies and 15-minute cities will limit his children's future choices. Real wealth means teaching stewardship and purpose.
I'm big on this. I'm big on this. You know, I've got a— my daughter's just turned— about to turn 13. She thinks she's turning 16 or 17. I need some coaching around teenage daughters, by the way. She got asked out by a boy the other day, and I don't know how I'm coping around this. I'm still, do I kill him, do I not? Am I happy, am I not? I'm still rotating through that. I've spoken to Jason about it a few times and I don't know how I'm, yeah, I don't know how I'm going with that, Shay. So you might need to help. It's okay, I'll send Lily to talk to you. Yeah, yeah, I might need to talk to Lily. Yeah, so I'm still dealing with that kind of process right now. And then I've got a 9-month-old son as well. So, and it's such an interesting journey being a dad at 40 versus it is at 27, 28, right? It's so interesting. But creating intergenerational wealth is something I'm big on, but I also think it's incredibly important. What have you been hearing from Sam, from Jason, from the team? Who feels that there's some urgency to sort your financial shit out right now? Does anyone feel that there's some urgency? Why do you feel like there's urgency right now? What, what do you see that's coming? What are the breadcrumbs that you're looking at that the team are talking about or what you notice? Why do you feel there's urgency right now? What do you reckon? What are some of the reasons? I've got a whole bunch, but I wanna hear from you. Pretty much time. You can't buy back time. Right, and that's so true. Time is our most valuable asset, pure and simple, and you've gotta buy it back, taking back one day at a time. Because one of the things that I've noticed is that it's becoming more and more unaffordable, isn't it? Who's genuinely concerned? Now, your kids will really be fine, but who's genuinely concerned about how their kids are gonna be able to afford to buy a home? In the next 5 to 10 years? Is anyone genuinely concerned? Now you guys might be okay because you're gonna pass it down, right? Potentially, well some of you are gonna sort your own shit out, but like, I think first home buyers are gonna be something you see in a museum. You're gonna walk in a museum and go, oh, there's those first home buyers that I once heard about, right? That's what I think's gonna be happening. It's becoming more and more unaffordable for kids to be able to get into their own home. What's the average age of the first home buyer now? 36 years old. The number of first home buyers who are now in their 40s doubled in the last 3 to 4 years alone, doubled. You think about the next 3 to 5 years, what's gonna be happening? I also think about things like control, and this is where I start to put my tinfoil hat on, and I'll be careful not to go too far. Jason will tell me to get off the stage. Yeah, I know, it's exactly right. But central bank digital currencies, does this concern anyone? Or am I alone in that? No. Right, so central bank digital currencies, 15-minute cities, like all these different things which are happening right now. Again, I sit there and I think about how are you gonna give your kids choices? And how are you gonna give their kids choices? And how are you gonna give their kids choices? And that's when I think about intergenerational wealth. What can you do right now that's gonna support future generations? Now, but again, it's not just about giving money 'cause that doesn't help. What does it go? First generation makes it, second generation? Grows it. Grows it, third generation? Blows it. Blows it. Has anyone heard that before? And so when I think about intergenerational wealth, it's not just about giving money. That's just one thing. The most valuable thing is teaching your kids and their kids how to actually be stewards of wealth and how to be giving human beings and how to be people who actually wanna have an impact on the planet, not takers, givers. And that's when I think about intergenerational wealth. If you're ready to take the next step in your journey, come follow me on Instagram @todd.polke. Send me a direct message saying 100K and you will unlock my exclusive free training video where I'll reveal the insider strategies on how to grow your wealth and achieve lasting financial independence. Thanks for tuning in, and I look forward to seeing you in the next video. Bye.
