August 31, 2025 • 33 mins
Happy Labor Day Weekend!
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Speaker 1 (00:00):
Well, good morning everybody, and welcome to the first day
the WIBC Sunday Magazine Show. It is August thirty, first
Labor Day weekend. It's the unofficial end of summer.
Speaker 2 (00:14):
Oh gosh, dang it, Terry, I thought we were gonna
have a happy show today.
Speaker 3 (00:19):
I got to put away my white shoes.
Speaker 1 (00:20):
Yes. Oh, thank you for the reminder, Denny, Paul Smith, Kyla,
Telly's with me too. I'm Terry Stacy, Denny, thank you.
You're right. You put away those white shoes, and you
can't wear your white pants either.
Speaker 3 (00:32):
It was just a couple months ago I said what
happened to June. Now I'm saying what happened to July?
And now we got to say what happened to August. Boom,
it's gone.
Speaker 1 (00:40):
I know it. You know state Fair, I mean with
the State Fair. It just in all that's been happening.
I mean, we just went from one event to another,
starting in what apri April, May, June, July. Everything has
been filled to the bram. We've got the drags, the
US Nationals happening this weekend, a long Labor Day tradition. Uh.
Speaker 3 (01:02):
And if you've never been to the drags always take
your production or protection. When we were kids, we would
get right there on the what was the south end
of the drags on our bicycles and we would wait
for the sound concussion to hit us in our chest.
You didn't have you, Oh God, God know how to
try it once? That Lucas Oil Raceway is just unbelievable.
Speaker 1 (01:24):
It is, and you're really you should see it one time.
Only If you don't, if you you know this isn't
your thing, at least try it one time. You got
to go out there. It's like nothing else. It's amazing,
and it does, like Danny said, you feel it in
every every nook and cranny of your popetary.
Speaker 2 (01:40):
If we're all going to be trying something at least once,
That's what I said about the gyrocropter, and so I
think that means that you need to hop up there
with Denny too.
Speaker 1 (01:48):
That's not on my list.
Speaker 2 (01:52):
I tried, NNY, I tried, you know what else to
the brim forgot The pumpkin spice lattes are flowing right now.
We had a pumpkin spice warning this week with all
of the lower temperatures, and then we also did you
see the other advisory that went out for Indiana A
little flannel advisory, get your flannels out Planel. I were
(02:13):
officially in fall. Wow, well unofficially but practically.
Speaker 4 (02:19):
Yeah.
Speaker 1 (02:19):
And he's been wearing truly flannel all summer, haven't you.
Speaker 3 (02:24):
No, I don't, no, no, no no. I try to
wear a collar shirt. I said when I retired that
I was not going to be the old guy that
walked around in baggy pants and a grungey old T shirt.
I try to wear a collared shirt every day, and
some days you roast in them. But this week it
was a little bit cooler.
Speaker 1 (02:40):
It was a little bit a little cooler.
Speaker 2 (02:41):
With the cooler temperatures, it made me almost miss summer,
and I didn't appreciate it enough. So with your eighty
degree weather this week, appreciate the heck out of it.
Speaker 5 (02:50):
Yeah.
Speaker 1 (02:50):
And if you're looking for some fun to do on
this gorgeous Sunday, Stucky Farms. They've got their sunflower Festival.
It got underway yesterday. It's seven acres, one hundred and
six years a thousand sunflowers. This is a great place
to take your school pictures, to do all kinds of stuff,
and it is really a great way to kick off
the fall season. It goes one to seven today and
tomorrow and then Nick next weekend too. And Stucky Farms
(03:13):
is in Sheridan by the way, not too far stuckyfarm
dot com. And then if I may, congratulations to Alex
Babbage and Fort Wayne who has grown the world's largest sunflower.
Now I know I've mentioned it. The sunflower's name is
now Clover and they call it Clobe. And his daughter
thinks it's a girl and the son thinks it's a boy.
(03:33):
The clover is now thirty five feet and it is
still pretty, it is still growing. It is amazing. I mean,
this is Denny. They have built like you know, those
electrical tower things kind of around it to protect it
from everything.
Speaker 3 (03:50):
And it looks like an oil rig is what it
looks like. Oh that's Texas or Oklahoma. He's got some
special hoots that he mixes up and he really didn't
want to tell us what it was, but it was incredible,
huge that he makes and.
Speaker 1 (04:04):
It's so cool. So that's up in Fort Wayne, and
you should follow him. You should follow him on social
media to keep watching beautiful Clover coming up on the
show today. Your kids just left for college. Should they
have a credit card? And if yes is the answer,
what is the best one for them to have? Plus
Amazing Indianapolis a new book about the stories behind some
pretty cool Who's Your inventions? But coming up next, Indy
(04:26):
is about to take center stage again with the inaugural
TED Sports event How You Can Get Tickets? That is
coming up next as well. Denny's going to stick around,
He'll be in and out. Kylin, thank you for being
here on this slimber day.
Speaker 2 (04:38):
We'll have plenty of Labor Day events to mention as
we go throughout the hours.
Speaker 1 (04:42):
Yep, you betcha. All right? This is called the First
Day Show, and we're wishing you the happiest of Labor
Day weekends. Oh you know who I missed? Jerry Lewis telethon.
Oh I do I missed Jerry Lewis telephon. We got
to go. We'll be back ninety three WIBC. The city
is getting ready to host the world renowned TED Stage
and it's focusing entirely on sports for the very first
(05:06):
time ever. And joining us now is nil A Bot.
He's co chair of TED Sports Indianapolis.
Speaker 4 (05:11):
How are you, sir, any better than be two of me.
I am fantastic.
Speaker 1 (05:17):
Listen are you listen? Well, let's talk about the WNBA
All Star Game just for a minute. But it's pretty
cool to have here right in Indianapolis.
Speaker 5 (05:26):
Right.
Speaker 4 (05:27):
Oh my goodness, I've been so I flew in last night,
and you know, Indy does this. I'm like nobody else.
Literally from the airport to every step of the way
in downtown, all I see is basketball, I see women,
I see our INDI's local superstars and wawnb All Star
in India for the first time. I love it.
Speaker 1 (05:48):
I love it too. I mean, it really is a
whole lot of fun. And we cannot wait to also
talk about what you're doing when it comes to sports.
I understand that Ted sports was really your vision, So
tell us a little bit about how this all began
and a little bit about your background.
Speaker 4 (06:06):
Sure wasn't just mine. It was obviously as India does.
It was a great team, the whole Indiana sports called
Patrick DOLTI, Jef Cerrow, everybody was behind it from the beginning.
But the idea, as you know, sports brings people together
unlike anybody else. I grew up in India, came to
the US, went to school, worked and then moved to
(06:28):
Indianapolis nearly twenty years ago specifically to work in sports.
And this has now become my home. They've adopted me.
I am an adopted who'sa and this this is the
world I'm in. And you know this as we see
what the host sports ecosystem from the National High School
Sports Association to the NCAA to co spaces fever of course,
(06:51):
the Indy five hundred, the Indianapolis Indians, and then the
USA Track and Field Gymnastics, et cetera. Are you perdue?
We've got an incredib a combination of all of these
things that make it unlike any other city. And when
you think of deed, deed is all about ideas that
can change everything. Sports brings people together. Ideas brings people together.
(07:13):
We've just never had said and sports in the same
place at the same time. Yeah, yeah, And so there's
been dead speakers. So you know, Williams is spoken, coach,
we're not spoken. But they went just to the dead
state to have eight talk around sports now for the
first time, Like you said, we're going to do this
in Indianapolis September ninth, tenth, and eleventh, where we're still
(07:36):
talking of innovation, climate change, sports, tech, women's sports, academia
and research and sports. But the through line is connecting
everything through sports itself.
Speaker 1 (07:48):
This is something you know, when I was watching our
Indiana Pacers go through the playoffs and it was so
fun to watch and it was really also, I think,
a lesson for this. It's a great business model. As
I was watching in this teamwork and this love of
each other and nobody actually you know, trying to out
(08:09):
do the other, and you know, the ballhog guy. It
really was about team and what you can do when
you put a team like that together, and that works
in the world of business, right.
Speaker 4 (08:20):
One hundred percent right, And you see these ideas exactly
like you said. And by the way, what a magical season,
but for one game, right, Oh my goodness, incredible, it's incredible.
But yes, it's exactly that, right. You see teamwork, you
see how to learn from winning and losing, right, and
those lessons apply to business. The great the resiliency, willingness
(08:44):
to adapt and innovate, and as we look at tat sports,
those are exactly the kind of ideas we want to
bring in not just with the talks alone, because talks
make up maybe ten or twenty percent of an actual
deat event. There's a whole host of things with it,
from workshops to discovery sessions where you will go out
(09:05):
into the city and discover things that you can do
only a dead only in Indie. Every meal Cracie is covered.
You have actually themed, curated dinners that you get to
go for, and all of that is part of the
TED experience. All of that is covered in your actual
delegacy as well. So it's not just go listen to
(09:25):
a talk. It will immerse yourself for three days. Listeners
speakers from all six continents, meeting people from all over
the world that share the common passion for sports and
how it can impact not just sports itself, but business
and life and society as a whole.
Speaker 1 (09:43):
The TED Sports Center in Indianapolis is really the pioneering
global event propelling the sports industry beyond its current boundaries.
It's from September ninth through September eleventh. We'll make sure
you get all the details on how to get involved
and be a part of this event, because it sounds
like it's going to be massive, and you know, as
you said, I guess, I guess we're pretty lucky Indianapolis
(10:04):
was selected. Was that hard getting getting that done? You know?
Speaker 4 (10:08):
I think it's all about telling the story, and Indie
tells such a great story, so, you know, back to it.
When we initially talked about it, the sports Core was
the partner, and then every one of the other groups
across the city from the basis Ports and Entertainment called Speedway, NCAA,
USA Track and Field Airport, everybody jumped on board and said,
what do you need where you're to support it? So
(10:29):
that made it really easy for Ted to consider this.
And we actually have Monique cross Bell, Ted's global program
and strategy officer, who's also visiting for this weekend to
experience and live our ecosystem firsthand. So Indy is not
a hard sell for me at all. I think it's
us telling the world and bringing them here to see
(10:50):
what we already know. We are the greatest sports city
in the world.
Speaker 1 (10:53):
I know it's the inaugural only event. I'm wondering, do
you have in mind how many people will be coming
for the event?
Speaker 4 (10:59):
Yeah. The vision is with their events, it's meant to
be a very immersive experience. So we're looking at about
eight hundred people from around the world that will be
here for these three days, with the speakers, with the businesses,
with our own local audiences as well, and some of
the speakers even our folks are going to recognize and know,
(11:20):
including the filmmaker for Whosius and Rudy, our very own
Angelo Pizzo. Cool. It's WNBA weekend, so we've got Ta
Meeka Catching and doctor Allison Barber and so we're going
to be representing a lot of our ideas to the
world and bring the world ideas to Indianapolis.
Speaker 1 (11:41):
I think that's awesome. I love it. Again. This is
September ninth through the eleventh. And where does it take place?
Speaker 4 (11:47):
So the main theater is the old National Center as well,
so we'll be at the Mira and we're taking over
the entire place there. But the experiences that people get
in the diner rounds, they range across the We're going
to have experiences at Lukasol Stadium, We're going to be
thinking doing things at the Speedway, at Gainbridge Field House
(12:08):
and a number of other places.
Speaker 1 (12:09):
That's cool. This is nearly bot he co chairs. He
is a co chair of the TED Sports Indianapolis And
as I said, truly I think still among many, but
a visionary behind this truly pioneering initiative. In what else
do you want listeners to know about this event that's
coming up for three days here in Indianapolis.
Speaker 4 (12:30):
I think for our listeners here, this is unlike anything
we've ever had before, not just in India but in
the world. So this is your chance to be a
part of it, not just to listen to the talks,
but get to meet the speakers, get to have experiences
they've never had before, and to make this the first
of hopefully many transformative experiences where we can bring the
(12:52):
world to Indianapolis. So go to the website, register, sign up,
spread the word and be there as well to welcome
the whole world to India.
Speaker 1 (13:02):
Yes please. And you know before we let you go,
you mentioned you grew up in India, So okay, I
want you to be a teacher for me for a minute.
You talked about this love, this passion of sports that
you had when you were a kid. What type of
sports could you participate in in India where you grew up?
Speaker 4 (13:19):
So you know, in India cricket is not just a sport,
it's a religion. So we all everybody plays cricket, and
I grew up playing soccer and tennis as well. Always
loved that. I remember the Regie Miller days when I
was in India with Miller time and all the rest,
so always loved that too. And then getting to come here.
(13:39):
And now my son who's twelve and loved and lived
every moment of our pace as season, loves the fever
as well. So it's wonderful. Those are the things I
grew up the following, and now I love the course,
I love the pacers and fever, I love used it.
So I'm loving life. And India is the beast place
to be if you had anything to do.
Speaker 1 (14:00):
With sports, it's gonna be so cool. Thank you, thank you,
thank you for sharing that, because I always love hearing
why people come and what keeps them here, and and
I like to know about their background and where they
grew up and what they knew about sports or whatever
it is the reason that they you know, they came
here perhaps, so I appreciate you sharing that with us. Niel. Okay,
(14:21):
what's the website. Let's get the website out there for everybody.
Speaker 4 (14:24):
So the website is TED Sports, Ted, ted Sports Dash
Indianapolis dot Ted dot com.
Speaker 1 (14:32):
All right, it's just gonna be terrific and another opportunity
for us to show off this city that we have.
Even with all its warts, it's I still would rather
be no place else. Nila bought co chair of TED
Sports Indianapolis and again the event from September ninth through
the eleventh, and get on board Ted Sports Dash Indianapolis
dot ted dot com, Nile. It's great to meet you.
(14:53):
I'm glad you found a home here.
Speaker 4 (14:55):
I'm glad too, and thank you for all you do
as well. And I'm looking look forward to welcoming everybody
to test sports along with our Sportscore partners as well.
Let's make this a game changing in an epic event.
Speaker 1 (15:06):
Make sure we continue to keep the word out. Thank you,
d LEZ.
Speaker 2 (15:11):
That website again for you, Ted Sports Dash Indianapolis dot
ted dot com for your tickets September ninth through eleventh.
It's going to be great. Hey, coming up, should students
get credit cards? We'll talk about it. Ninety three WIBC
ninety three WIBC and Network Indiana.
Speaker 1 (15:29):
It is Terry Stacey and Kylin Tally. As college students
head back to campus, there are lots of things to
consider when you think about obtaining their first credit card.
And I say that because I think we all know
we start to get those credit card applications, if you will,
all of the mail and all of them in the mail,
and it's very enticing as you head off to college.
(15:52):
But we need to talk about it a little bit.
And joining us now is Victor Wang. He's the CEO
of Stockpile, and he says that this is a cue
moment to build strong money habits. Victor, how are you good?
How are you? We're good? Tell us about Stockpile before
we jump into it.
Speaker 5 (16:08):
Oh, great things.
Speaker 4 (16:09):
You know.
Speaker 5 (16:10):
Stockpile is a financial platform where we teach kids and
parents to talk about money together and really good get
good financial habits around spending habits, budgeting and investing for
the future.
Speaker 1 (16:21):
What really is a good age to start teaching kids
about money?
Speaker 5 (16:26):
You know, really it's the earliest possible age. And I
think a good analogy we always try to have is,
you know, we're getting our kids involved in soccer and
tennis and piano at four or five, six years old.
And you know, if we're getting kids started in those
kind of things that early, you know, it's great to
have conversations and money at that same age. The earlier
we can start talking about it, the earlier people can
(16:48):
be comfortable talking about it, the better it is. I
think the challenge always is as parents, often times we
don't feel comfortable talking about money. So you know, what
we know is that earlier you can talk to them
about it, more comfortable it is, and you know they
can learn more at an early age.
Speaker 1 (17:02):
I don't know why we got we all have such
Here's the thing. We don't like talking about it as adults.
We don't like talking about death or taxes or money.
It's taboo. Don't say a thing. It is taboo. I
never knew how much my mom and dad made money wise,
we just we just didn't talk about it. Kylin has
a question, go ahet, Kylon.
Speaker 2 (17:22):
Well, I'm curious because Stockpile, you guys have done work
around this and getting getting financial literacy into the hands
of young kids, even to the point where you guys launched.
Speaker 1 (17:30):
A debit card for kids.
Speaker 2 (17:32):
Talk about this and some of the other resources you're
having to help with some of that parenting.
Speaker 5 (17:38):
Yeah, I think the thing that's the most important, especially
as kids are going to college, you know they're going
to land on that campus and there's going to be
a row of table trying to get them to sign
up for stuff, right, And really, what we want to
give parents and kids the tools to know how to
make those decisions responsibly. And I think one of the
things that we're always concerned with is is obviously student debt.
(18:00):
You know, if kids have the habits early of spending
within their means, then then all get in trouble. When
there's a lot of credit available, I think, you know,
there's the opportunity for people to have responsible credit. But
you know, when we look at the average college student
having over three thousand dollars of debt, you know, and
that's a bad sign, especially when the average limit is
(18:20):
thirty five hundred dollars. So these kids are maxed out
paying twenty five percent interest. And what we would rather
have them do is before they even get to campus
is learn how to spend within their means. And that's why,
you know, tools like debit cards help kids get good
habits around payment early.
Speaker 1 (18:39):
Well, as a parent, is there any situation where my
college student should not get a credit card or a
debit card? Is there any situation you can think of
where he's not ready or she's not ready for that.
Speaker 5 (18:54):
Well. I think one of the things is that it's
kind of like waiting for until they get to college
and kind of hope that they make the best choices.
It's a little too late.
Speaker 4 (19:02):
I think.
Speaker 5 (19:02):
One of the things we find is that more than
half of parents never talk to their kids about money.
So I think your experience growing up is pretty much
the norm. So, you know, I think what we have
found in recent research when we talked to college freshmen,
we asked them like, well, did your parents talk to
about money, and a lot of them did say yes,
but that yes was like two weeks before they were
(19:23):
going to college, right, So the important thing is like
build up those habits early, have the conversations early because
they're you know, those financial habits are going to be tested.
And you know, even us as adults, you know, we
have to resist the temptation to spend more than we have. So,
you know, part of that teaching for our kids is
making sure we're teaching good habits by demonstrating good habits
(19:44):
as well.
Speaker 2 (19:45):
Some of those good habits you talk about spending within
your means, what are some of those other habits that
they can build upon.
Speaker 5 (19:52):
Well, there are a couple of really key ones.
Speaker 1 (19:54):
Right.
Speaker 5 (19:55):
It's like the good habit is talking about money first,
making sure it's something that's comfortable to talk about. Secondly,
it's making sure that you help kids build a real budget.
Speaker 1 (20:05):
Right.
Speaker 5 (20:05):
To know how much you can spend is to know
how much you can spend relative to other things.
Speaker 2 (20:11):
Right.
Speaker 5 (20:11):
You want to make sure you're saving responsibly investing for
the future, and spending is what's left at the end,
rather than let me spend everything first and then whatever
left I'm going to save and invest that's going to
always be zero. So the key is budgeting it up front.
And no matter what, even in the simplest way, whether
it's the piece of paper, software, doesn't matter. It just
(20:33):
get started, you know, start learning to build a budget,
start learning to manage spending, and really start investing as
early as possible.
Speaker 1 (20:42):
Let's go back even before we get to that college
age or that high school age when some kids start
making a little money. We said start early, and it
can start really really early. What are maybe a good
tip or two for start when it comes to actually
start educating your kids about money. We know that do
it in school very often or at least not that
I know. Up when it comes to you know, when
(21:04):
we're little kids and is there some good ways to
do that to teach them about money?
Speaker 5 (21:11):
Yeah, you know, I think well, the first big thing
is that they're learning about money, whether we want them
to or not.
Speaker 3 (21:17):
They look at how do we do we look.
Speaker 5 (21:19):
At prices when we pick things up in the store,
Or how do they see us reacting when we get
our credit card bill? You know, all of those things
they are learning kind of just by watching the way
we do things. So there's you know, learning happening, you know,
always from the beginning. But one of the big things
we always like to have kids do is get involved
in the decisions, right, you know, whether it's planning for
(21:42):
a vacation or hey, how much can we spend on this?
Or hey should we invest in something that you might
be interested in it? Get them in the discussion early.
I mean, one of the things we have on our
platform that's really key is this whole the idea of
kids choose, parents approve, help kids make decisions. It's like,
you know, do you want to invest in Mattel, Do
(22:02):
you want to invest in Amazon? Do you want to
invest in Apple? And then you know, they can make
the decisions, and you know, parents can say yes or no.
And part of that learning process is, you know, sometimes
they're going to make money, sometimes they're going to lose.
It's it's a learning process, and you know, I think
kids learn from their victories, they also learn from their mistakes,
and talking about those openly helps it be, like you said,
(22:25):
less of a taboo subject and part of real discussion
within the family.
Speaker 2 (22:29):
I have a question off of that, because it's very easy,
I feel like to make that almost like a game,
like it's monopoly, it's just play money.
Speaker 1 (22:37):
It's not my money.
Speaker 2 (22:38):
How do you make that transition into the kids then
taking that truly seriously with their own money in the future.
Speaker 5 (22:45):
You know, that's a great question, and it really is
making sure they understand it's their money, right, I think
one of the things. And you know, we see more
and more states doing this. Denver, New Jersey, like a
lot of areas are starting to do on ancial literacy programs.
The unfortunate part is that just because they have information
doesn't mean it changes their behavior, and studies are showing
(23:08):
that over and over again. The way that we get
kids into good behavior is make it real, make real
choices with real money, not simulations or games. Make it
so that, hey, this is your ten dollars, twenty dollars,
this is your allowance. Let's make some good decisions around that.
That's the way to make it real for them and
(23:29):
have them build real hands on experience. I think one
of the things we find is that today, like the
entirety of information about investing is in your pocket own.
So it's not a knowledge problem, it's a behavior problem.
So the only way they build that is with practical experience,
that's real.
Speaker 2 (23:47):
I have loved your insight on so many things, and
so I need your input on this argument discussion I
guess that I'm having with my mom because we myself
and my siblings growing up, we were not allowed allowances.
We oh, that was waiting A good question in my
baby's sister. Now she's six years old and she gets allowances,
and so we have this discussion, and you're your boys.
Speaker 1 (24:08):
You're right, Well, I have a.
Speaker 2 (24:10):
Different value around money than she might have growing up
with you and your boys.
Speaker 1 (24:14):
What did what did you decide to do?
Speaker 5 (24:16):
Oh? That's a that's a really good question. Because there's
there's two big schools of thought. One school of thought is, hey,
you know, you don't get any money unless you do chores, right,
like the dishes? About that, right, which makes sense, right.
And there's another school of thought, which is when you
(24:37):
teach kids that you only do chores because you're paid,
then they lose the altruistic view of you should do
something because you're part of the family, which is, no,
I'm not going to pay you to do you know,
the dishes or the laundry. You do those because you
live here and you are part of the family and
you contribute to that effort. But what we do is
(24:59):
we do of a hybrid between those two, which is,
you do certain basic things because you're part of the
family and you have a general responsibility to the community
as a whole. But if there's a specific project, which is, hey,
I want you to paint the garage, I'd like you
to assemble this thing, that's more project oriented, you know,
in those cases, I'll say, hey, I'll give you X
(25:21):
dollars for this project because it's not part of normal
daily activity.
Speaker 4 (25:26):
Right.
Speaker 5 (25:27):
So we do a mix between the two. But I
think that's one of the things that's so important is
that when we have that conversation. I think the conversation
that you had with your whether it's your mom or
your sister, even having that conversation is important because it
establishes what's your family's values around finances. And you know,
(25:48):
the right answer for some families are not the right
answer for everybody, right, So I think what's important is
look at your own family, look at your own financial circumstances,
look at the personality of your kids, right, you know,
I think we as parents, we often find that hey this,
you know, this one strategy rule works for one kid
doesn't even work for the other kids. So I think
(26:08):
we want to make sure we're flexible and adaptable and
know the trade off that we're making in each case.
Speaker 1 (26:13):
Victor Wang, the CEO of Stockpile, They're ready to help you.
And Victor, what's a good place they can find you.
Speaker 5 (26:20):
It's just go to stockpile dot com. You'll see all
the things that we have available for kids and families.
And one other thing that you know we talk we're
talking about dad and a debt that's accumulated during college.
We do have a special tuition rewards program where kids
and families can earn reduction in college tuition for certain
(26:41):
specified schools, so you can find more information about that online.
Speaker 1 (26:44):
Sure, appreciate it. Victor Wang, CEO of Stockpile, thank you
a million times for giving us so much of your
time today. Appreciate it, no problem.
Speaker 5 (26:52):
Thanks so much for having me on you bet.
Speaker 2 (26:54):
Let's continue on this path of becoming financially literate with
our next segment, you know it, Dollars and Cents with
Denny Smith ninety three WIBC.
Speaker 1 (27:03):
All right, everybody sing along with us now, you know you,
Oh you've got a friend, and Denny, You've got a friend.
And Denny, I know you love this. I know you do, Denny.
I hope the listeners love it just as much because
(27:24):
it's run and we're in radio.
Speaker 2 (27:26):
We're not inquired. Okay, you just remember what your friend.
Speaker 1 (27:31):
Denny said, Oh you've got a friend, and Denny, Oh yeah,
you got a friend Smith.
Speaker 3 (27:40):
All right, lady, thank you for that wonderful introduction. Today
is going to be a little bit of a book review,
but it's also something that's near and dear to all
of us who have birthdays. There was a book written
a few years ago called The Triumphs of Experience, and
it was written by doctor George Valliant, who was a
Harvard professor, and he got what was known as the
(28:01):
Harvard Grant Study going. Now, here's the situation. America is
aging faster than the batteries in our TV remote. Eight
thousand Americans are turning sixty five every single day. Pat
Sullivan turned last month earlier in the month. But by
twenty fifty, the number of people over eighty will more
than triple, which means there'll be more octagenarians than there
(28:23):
are teenagers hanging around them all. So what doctor George
Valiant was attempting to do was to study the process
of aging and happiness. He was sort of a psychiatrist.
He was a researcher and a storyteller all rolled into one.
If you remember the series Marcus WELLBMD, it was sort
(28:44):
of like Marcus Welby had a subscription to Scientific American.
Because what Valiant did was he broke it down into
the science of things. He wrote several books. But this
triumphs of experience that I got to explore last week
is the big win. Gives us insight into what it
really is going to matter to people as they grow
(29:04):
into their eighties and nineties. Now my mom is ninety five,
still going strong. But this study was basically focused on
men and later updated with women. So here are the findings.
We're always like, it's it's going to change, it's never
going to change, Okay, So these are sort of conversational bullets,
so you jump right in here. First of all, for
(29:27):
these guys that were studied for since nineteen thirty eight,
and I think about that childhood matters, but not forever.
A loving childhood is a lifelong strength, is what Valiant found.
But even if you didn't get the Hallmark movie version
of family life, it still possible to rebound later. And
you know, even in our own experience, we know people
like this, people who had crappy childhoods, but it really
(29:49):
are really nice people. And likewise, we know people who
had great childhoods who turned out to be jerks. Right.
You know, the general finding was that childhood matter. Now
here's another one. Maturity really pays off. People who learn
healthier coping skills are better. And what that translation means
is that screaming at traffic probably isn't a long term
(30:10):
retirement strategy. You've got to be.
Speaker 1 (30:14):
I mean, are you sure, especially here in Indianapolis.
Speaker 3 (30:21):
Road rage doesn't count, all right. So here's another one,
and you guys will identify with this. Love and relationships
whin yeh. Emotional intimacy, marriage friendships predict successful agent far
more than InCom or status. Valiant said it best, happiness
is love, full stop. That he wrote it that way.
Happiness is love. And I believe that.
Speaker 1 (30:40):
Who said money doesn't buy happiness.
Speaker 3 (30:43):
No, money doesn't buy it, just makes it easier.
Speaker 1 (30:45):
Are you the one that said that?
Speaker 3 (30:47):
What I always said was money isn't everything. It's just
that having money makes things so much easier in life.
It's a weird people in your life that are worth
a million bucks. Here's another one that won't surprise anybody.
Booze is bad news. Alcohol abuse was the strongest predictor
of poor health and broken relationships, meaning that men who
drank their way through didn't exactly triumph and experience, they
(31:08):
really suffered. Here's a fun one. The longer your grandmother lived,
the better your mental health might be, which is a
flat way of saying, call your Grandma's good for you too.
It is never too late. Valiant always said, It's never
too late. Growth and change keep happening. Even into your seventies, eighties,
and nineties. So don't stop developing. You just get to
(31:29):
seem to just count like to do it. And if
people say, you know, I'm going back to school, no,
you're going forward to school. I heard that and I thought, oh,
so here's that you like going forward into school? I
like it too. But here it is a Harvard psychiatrist
researcher in one of the world's leading experts on adult
development and aging. He was known for translating this dry
data into life lessons with warmth and humor and compassion. Again,
(31:52):
this book is just fabulous. It's called Triumphs and the
Limitations with a wink. Here you go. Yeah, the study
began with privileged Harvard men, so think blazers rowing teams,
not the guys from the bowling alley. Okay, the valiant
cross checked findings the study of the Boston inner city
(32:12):
men with gifted women. So he was smart enough to
know that I can't take this one demographic. So it
wasn't just about Ivy League silver spooner types. Now here's
the takeaway message. Successful aging isn't locked in by your
genes or by your teenage report card. For that man,
it comes down to love, health, relationships, and resilience. The
kind of stuff you can inflict, you can influence no
(32:34):
matter what your age is, or, as one waggy lady said,
it might put you don't retire from life, you just
retire from mowing your own lawn. I really liked that.
Speaker 2 (32:44):
I'm ready from life, ready to Grandma.
Speaker 1 (32:51):
Smith.
Speaker 3 (32:52):
So here's the secret if you want to age well,
love deeply, stay connected, keep healthy, and maybe skip that
third martini. In other words, triumphs of experience. It isn't
just about the Harvard men. It's about a roadmap for
all of us to try to turn our later years
into our greater years. So there you go, ladies, Thank you.
Speaker 1 (33:09):
Denny Denny Smith. Dollars and cents. We've got another hour
left here of your labor day, first day, right here
on ninety three WIBC. The news is next
Well, good morning everybody, and welcome to the first day
the WIBC Sunday Magazine Show. It is August thirty, first
Labor Day weekend. It's the unofficial end of summer.
Speaker 2 (00:14):
Oh gosh, dang it, Terry, I thought we were gonna
have a happy show today.
Speaker 3 (00:19):
I got to put away my white shoes.
Speaker 1 (00:20):
Yes. Oh, thank you for the reminder, Denny, Paul Smith, Kyla,
Telly's with me too. I'm Terry Stacy, Denny, thank you.
You're right. You put away those white shoes, and you
can't wear your white pants either.
Speaker 3 (00:32):
It was just a couple months ago I said what
happened to June. Now I'm saying what happened to July?
And now we got to say what happened to August. Boom,
it's gone.
Speaker 1 (00:40):
I know it. You know state Fair, I mean with
the State Fair. It just in all that's been happening.
I mean, we just went from one event to another,
starting in what apri April, May, June, July. Everything has
been filled to the bram. We've got the drags, the
US Nationals happening this weekend, a long Labor Day tradition. Uh.
Speaker 3 (01:02):
And if you've never been to the drags always take
your production or protection. When we were kids, we would
get right there on the what was the south end
of the drags on our bicycles and we would wait
for the sound concussion to hit us in our chest.
You didn't have you, Oh God, God know how to
try it once? That Lucas Oil Raceway is just unbelievable.
Speaker 1 (01:24):
It is, and you're really you should see it one time.
Only If you don't, if you you know this isn't
your thing, at least try it one time. You got
to go out there. It's like nothing else. It's amazing,
and it does, like Danny said, you feel it in
every every nook and cranny of your popetary.
Speaker 2 (01:40):
If we're all going to be trying something at least once,
That's what I said about the gyrocropter, and so I
think that means that you need to hop up there
with Denny too.
Speaker 1 (01:48):
That's not on my list.
Speaker 2 (01:52):
I tried, NNY, I tried, you know what else to
the brim forgot The pumpkin spice lattes are flowing right now.
We had a pumpkin spice warning this week with all
of the lower temperatures, and then we also did you
see the other advisory that went out for Indiana A
little flannel advisory, get your flannels out Planel. I were
(02:13):
officially in fall. Wow, well unofficially but practically.
Speaker 4 (02:19):
Yeah.
Speaker 1 (02:19):
And he's been wearing truly flannel all summer, haven't you.
Speaker 3 (02:24):
No, I don't, no, no, no no. I try to
wear a collar shirt. I said when I retired that
I was not going to be the old guy that
walked around in baggy pants and a grungey old T shirt.
I try to wear a collared shirt every day, and
some days you roast in them. But this week it
was a little bit cooler.
Speaker 1 (02:40):
It was a little bit a little cooler.
Speaker 2 (02:41):
With the cooler temperatures, it made me almost miss summer,
and I didn't appreciate it enough. So with your eighty
degree weather this week, appreciate the heck out of it.
Speaker 5 (02:50):
Yeah.
Speaker 1 (02:50):
And if you're looking for some fun to do on
this gorgeous Sunday, Stucky Farms. They've got their sunflower Festival.
It got underway yesterday. It's seven acres, one hundred and
six years a thousand sunflowers. This is a great place
to take your school pictures, to do all kinds of stuff,
and it is really a great way to kick off
the fall season. It goes one to seven today and
tomorrow and then Nick next weekend too. And Stucky Farms
(03:13):
is in Sheridan by the way, not too far stuckyfarm
dot com. And then if I may, congratulations to Alex
Babbage and Fort Wayne who has grown the world's largest sunflower.
Now I know I've mentioned it. The sunflower's name is
now Clover and they call it Clobe. And his daughter
thinks it's a girl and the son thinks it's a boy.
(03:33):
The clover is now thirty five feet and it is
still pretty, it is still growing. It is amazing. I mean,
this is Denny. They have built like you know, those
electrical tower things kind of around it to protect it
from everything.
Speaker 3 (03:50):
And it looks like an oil rig is what it
looks like. Oh that's Texas or Oklahoma. He's got some
special hoots that he mixes up and he really didn't
want to tell us what it was, but it was incredible,
huge that he makes and.
Speaker 1 (04:04):
It's so cool. So that's up in Fort Wayne, and
you should follow him. You should follow him on social
media to keep watching beautiful Clover coming up on the
show today. Your kids just left for college. Should they
have a credit card? And if yes is the answer,
what is the best one for them to have? Plus
Amazing Indianapolis a new book about the stories behind some
pretty cool Who's Your inventions? But coming up next, Indy
(04:26):
is about to take center stage again with the inaugural
TED Sports event How You Can Get Tickets? That is
coming up next as well. Denny's going to stick around,
He'll be in and out. Kylin, thank you for being
here on this slimber day.
Speaker 2 (04:38):
We'll have plenty of Labor Day events to mention as
we go throughout the hours.
Speaker 1 (04:42):
Yep, you betcha. All right? This is called the First
Day Show, and we're wishing you the happiest of Labor
Day weekends. Oh you know who I missed? Jerry Lewis telethon.
Oh I do I missed Jerry Lewis telephon. We got
to go. We'll be back ninety three WIBC. The city
is getting ready to host the world renowned TED Stage
and it's focusing entirely on sports for the very first
(05:06):
time ever. And joining us now is nil A Bot.
He's co chair of TED Sports Indianapolis.
Speaker 4 (05:11):
How are you, sir, any better than be two of me.
I am fantastic.
Speaker 1 (05:17):
Listen are you listen? Well, let's talk about the WNBA
All Star Game just for a minute. But it's pretty
cool to have here right in Indianapolis.
Speaker 5 (05:26):
Right.
Speaker 4 (05:27):
Oh my goodness, I've been so I flew in last night,
and you know, Indy does this. I'm like nobody else.
Literally from the airport to every step of the way
in downtown, all I see is basketball, I see women,
I see our INDI's local superstars and wawnb All Star
in India for the first time. I love it.
Speaker 1 (05:48):
I love it too. I mean, it really is a
whole lot of fun. And we cannot wait to also
talk about what you're doing when it comes to sports.
I understand that Ted sports was really your vision, So
tell us a little bit about how this all began
and a little bit about your background.
Speaker 4 (06:06):
Sure wasn't just mine. It was obviously as India does.
It was a great team, the whole Indiana sports called
Patrick DOLTI, Jef Cerrow, everybody was behind it from the beginning.
But the idea, as you know, sports brings people together
unlike anybody else. I grew up in India, came to
the US, went to school, worked and then moved to
(06:28):
Indianapolis nearly twenty years ago specifically to work in sports.
And this has now become my home. They've adopted me.
I am an adopted who'sa and this this is the
world I'm in. And you know this as we see
what the host sports ecosystem from the National High School
Sports Association to the NCAA to co spaces fever of course,
(06:51):
the Indy five hundred, the Indianapolis Indians, and then the
USA Track and Field Gymnastics, et cetera. Are you perdue?
We've got an incredib a combination of all of these
things that make it unlike any other city. And when
you think of deed, deed is all about ideas that
can change everything. Sports brings people together. Ideas brings people together.
(07:13):
We've just never had said and sports in the same
place at the same time. Yeah, yeah, And so there's
been dead speakers. So you know, Williams is spoken, coach,
we're not spoken. But they went just to the dead
state to have eight talk around sports now for the
first time, Like you said, we're going to do this
in Indianapolis September ninth, tenth, and eleventh, where we're still
(07:36):
talking of innovation, climate change, sports, tech, women's sports, academia
and research and sports. But the through line is connecting
everything through sports itself.
Speaker 1 (07:48):
This is something you know, when I was watching our
Indiana Pacers go through the playoffs and it was so
fun to watch and it was really also, I think,
a lesson for this. It's a great business model. As
I was watching in this teamwork and this love of
each other and nobody actually you know, trying to out
(08:09):
do the other, and you know, the ballhog guy. It
really was about team and what you can do when
you put a team like that together, and that works
in the world of business, right.
Speaker 4 (08:20):
One hundred percent right, And you see these ideas exactly
like you said. And by the way, what a magical season,
but for one game, right, Oh my goodness, incredible, it's incredible.
But yes, it's exactly that, right. You see teamwork, you
see how to learn from winning and losing, right, and
those lessons apply to business. The great the resiliency, willingness
(08:44):
to adapt and innovate, and as we look at tat sports,
those are exactly the kind of ideas we want to
bring in not just with the talks alone, because talks
make up maybe ten or twenty percent of an actual
deat event. There's a whole host of things with it,
from workshops to discovery sessions where you will go out
(09:05):
into the city and discover things that you can do
only a dead only in Indie. Every meal Cracie is covered.
You have actually themed, curated dinners that you get to
go for, and all of that is part of the
TED experience. All of that is covered in your actual
delegacy as well. So it's not just go listen to
(09:25):
a talk. It will immerse yourself for three days. Listeners
speakers from all six continents, meeting people from all over
the world that share the common passion for sports and
how it can impact not just sports itself, but business
and life and society as a whole.
Speaker 1 (09:43):
The TED Sports Center in Indianapolis is really the pioneering
global event propelling the sports industry beyond its current boundaries.
It's from September ninth through September eleventh. We'll make sure
you get all the details on how to get involved
and be a part of this event, because it sounds
like it's going to be massive, and you know, as
you said, I guess, I guess we're pretty lucky Indianapolis
(10:04):
was selected. Was that hard getting getting that done? You know?
Speaker 4 (10:08):
I think it's all about telling the story, and Indie
tells such a great story, so, you know, back to it.
When we initially talked about it, the sports Core was
the partner, and then every one of the other groups
across the city from the basis Ports and Entertainment called Speedway, NCAA,
USA Track and Field Airport, everybody jumped on board and said,
what do you need where you're to support it? So
(10:29):
that made it really easy for Ted to consider this.
And we actually have Monique cross Bell, Ted's global program
and strategy officer, who's also visiting for this weekend to
experience and live our ecosystem firsthand. So Indy is not
a hard sell for me at all. I think it's
us telling the world and bringing them here to see
(10:50):
what we already know. We are the greatest sports city
in the world.
Speaker 1 (10:53):
I know it's the inaugural only event. I'm wondering, do
you have in mind how many people will be coming
for the event?
Speaker 4 (10:59):
Yeah. The vision is with their events, it's meant to
be a very immersive experience. So we're looking at about
eight hundred people from around the world that will be
here for these three days, with the speakers, with the businesses,
with our own local audiences as well, and some of
the speakers even our folks are going to recognize and know,
(11:20):
including the filmmaker for Whosius and Rudy, our very own
Angelo Pizzo. Cool. It's WNBA weekend, so we've got Ta
Meeka Catching and doctor Allison Barber and so we're going
to be representing a lot of our ideas to the
world and bring the world ideas to Indianapolis.
Speaker 1 (11:41):
I think that's awesome. I love it. Again. This is
September ninth through the eleventh. And where does it take place?
Speaker 4 (11:47):
So the main theater is the old National Center as well,
so we'll be at the Mira and we're taking over
the entire place there. But the experiences that people get
in the diner rounds, they range across the We're going
to have experiences at Lukasol Stadium, We're going to be
thinking doing things at the Speedway, at Gainbridge Field House
(12:08):
and a number of other places.
Speaker 1 (12:09):
That's cool. This is nearly bot he co chairs. He
is a co chair of the TED Sports Indianapolis And
as I said, truly I think still among many, but
a visionary behind this truly pioneering initiative. In what else
do you want listeners to know about this event that's
coming up for three days here in Indianapolis.
Speaker 4 (12:30):
I think for our listeners here, this is unlike anything
we've ever had before, not just in India but in
the world. So this is your chance to be a
part of it, not just to listen to the talks,
but get to meet the speakers, get to have experiences
they've never had before, and to make this the first
of hopefully many transformative experiences where we can bring the
(12:52):
world to Indianapolis. So go to the website, register, sign up,
spread the word and be there as well to welcome
the whole world to India.
Speaker 1 (13:02):
Yes please. And you know before we let you go,
you mentioned you grew up in India, So okay, I
want you to be a teacher for me for a minute.
You talked about this love, this passion of sports that
you had when you were a kid. What type of
sports could you participate in in India where you grew up?
Speaker 4 (13:19):
So you know, in India cricket is not just a sport,
it's a religion. So we all everybody plays cricket, and
I grew up playing soccer and tennis as well. Always
loved that. I remember the Regie Miller days when I
was in India with Miller time and all the rest,
so always loved that too. And then getting to come here.
(13:39):
And now my son who's twelve and loved and lived
every moment of our pace as season, loves the fever
as well. So it's wonderful. Those are the things I
grew up the following, and now I love the course,
I love the pacers and fever, I love used it.
So I'm loving life. And India is the beast place
to be if you had anything to do.
Speaker 1 (14:00):
With sports, it's gonna be so cool. Thank you, thank you,
thank you for sharing that, because I always love hearing
why people come and what keeps them here, and and
I like to know about their background and where they
grew up and what they knew about sports or whatever
it is the reason that they you know, they came
here perhaps, so I appreciate you sharing that with us. Niel. Okay,
(14:21):
what's the website. Let's get the website out there for everybody.
Speaker 4 (14:24):
So the website is TED Sports, Ted, ted Sports Dash
Indianapolis dot Ted dot com.
Speaker 1 (14:32):
All right, it's just gonna be terrific and another opportunity
for us to show off this city that we have.
Even with all its warts, it's I still would rather
be no place else. Nila bought co chair of TED
Sports Indianapolis and again the event from September ninth through
the eleventh, and get on board Ted Sports Dash Indianapolis
dot ted dot com, Nile. It's great to meet you.
(14:53):
I'm glad you found a home here.
Speaker 4 (14:55):
I'm glad too, and thank you for all you do
as well. And I'm looking look forward to welcoming everybody
to test sports along with our Sportscore partners as well.
Let's make this a game changing in an epic event.
Speaker 1 (15:06):
Make sure we continue to keep the word out. Thank you,
d LEZ.
Speaker 2 (15:11):
That website again for you, Ted Sports Dash Indianapolis dot
ted dot com for your tickets September ninth through eleventh.
It's going to be great. Hey, coming up, should students
get credit cards? We'll talk about it. Ninety three WIBC
ninety three WIBC and Network Indiana.
Speaker 1 (15:29):
It is Terry Stacey and Kylin Tally. As college students
head back to campus, there are lots of things to
consider when you think about obtaining their first credit card.
And I say that because I think we all know
we start to get those credit card applications, if you will,
all of the mail and all of them in the mail,
and it's very enticing as you head off to college.
(15:52):
But we need to talk about it a little bit.
And joining us now is Victor Wang. He's the CEO
of Stockpile, and he says that this is a cue
moment to build strong money habits. Victor, how are you good?
How are you? We're good? Tell us about Stockpile before
we jump into it.
Speaker 5 (16:08):
Oh, great things.
Speaker 4 (16:09):
You know.
Speaker 5 (16:10):
Stockpile is a financial platform where we teach kids and
parents to talk about money together and really good get
good financial habits around spending habits, budgeting and investing for
the future.
Speaker 1 (16:21):
What really is a good age to start teaching kids
about money?
Speaker 5 (16:26):
You know, really it's the earliest possible age. And I
think a good analogy we always try to have is,
you know, we're getting our kids involved in soccer and
tennis and piano at four or five, six years old.
And you know, if we're getting kids started in those
kind of things that early, you know, it's great to
have conversations and money at that same age. The earlier
we can start talking about it, the earlier people can
(16:48):
be comfortable talking about it, the better it is. I
think the challenge always is as parents, often times we
don't feel comfortable talking about money. So you know, what
we know is that earlier you can talk to them
about it, more comfortable it is, and you know they
can learn more at an early age.
Speaker 1 (17:02):
I don't know why we got we all have such
Here's the thing. We don't like talking about it as adults.
We don't like talking about death or taxes or money.
It's taboo. Don't say a thing. It is taboo. I
never knew how much my mom and dad made money wise,
we just we just didn't talk about it. Kylin has
a question, go ahet, Kylon.
Speaker 2 (17:22):
Well, I'm curious because Stockpile, you guys have done work
around this and getting getting financial literacy into the hands
of young kids, even to the point where you guys launched.
Speaker 1 (17:30):
A debit card for kids.
Speaker 2 (17:32):
Talk about this and some of the other resources you're
having to help with some of that parenting.
Speaker 5 (17:38):
Yeah, I think the thing that's the most important, especially
as kids are going to college, you know they're going
to land on that campus and there's going to be
a row of table trying to get them to sign
up for stuff, right, And really, what we want to
give parents and kids the tools to know how to
make those decisions responsibly. And I think one of the
things that we're always concerned with is is obviously student debt.
(18:00):
You know, if kids have the habits early of spending
within their means, then then all get in trouble. When
there's a lot of credit available, I think, you know,
there's the opportunity for people to have responsible credit. But
you know, when we look at the average college student
having over three thousand dollars of debt, you know, and
that's a bad sign, especially when the average limit is
(18:20):
thirty five hundred dollars. So these kids are maxed out
paying twenty five percent interest. And what we would rather
have them do is before they even get to campus
is learn how to spend within their means. And that's why,
you know, tools like debit cards help kids get good
habits around payment early.
Speaker 1 (18:39):
Well, as a parent, is there any situation where my
college student should not get a credit card or a
debit card? Is there any situation you can think of
where he's not ready or she's not ready for that.
Speaker 5 (18:54):
Well. I think one of the things is that it's
kind of like waiting for until they get to college
and kind of hope that they make the best choices.
It's a little too late.
Speaker 4 (19:02):
I think.
Speaker 5 (19:02):
One of the things we find is that more than
half of parents never talk to their kids about money.
So I think your experience growing up is pretty much
the norm. So, you know, I think what we have
found in recent research when we talked to college freshmen,
we asked them like, well, did your parents talk to
about money, and a lot of them did say yes,
but that yes was like two weeks before they were
(19:23):
going to college, right, So the important thing is like
build up those habits early, have the conversations early because
they're you know, those financial habits are going to be tested.
And you know, even us as adults, you know, we
have to resist the temptation to spend more than we have. So,
you know, part of that teaching for our kids is
making sure we're teaching good habits by demonstrating good habits
(19:44):
as well.
Speaker 2 (19:45):
Some of those good habits you talk about spending within
your means, what are some of those other habits that
they can build upon.
Speaker 5 (19:52):
Well, there are a couple of really key ones.
Speaker 1 (19:54):
Right.
Speaker 5 (19:55):
It's like the good habit is talking about money first,
making sure it's something that's comfortable to talk about. Secondly,
it's making sure that you help kids build a real budget.
Speaker 1 (20:05):
Right.
Speaker 5 (20:05):
To know how much you can spend is to know
how much you can spend relative to other things.
Speaker 2 (20:11):
Right.
Speaker 5 (20:11):
You want to make sure you're saving responsibly investing for
the future, and spending is what's left at the end,
rather than let me spend everything first and then whatever
left I'm going to save and invest that's going to
always be zero. So the key is budgeting it up front.
And no matter what, even in the simplest way, whether
it's the piece of paper, software, doesn't matter. It just
(20:33):
get started, you know, start learning to build a budget,
start learning to manage spending, and really start investing as
early as possible.
Speaker 1 (20:42):
Let's go back even before we get to that college
age or that high school age when some kids start
making a little money. We said start early, and it
can start really really early. What are maybe a good
tip or two for start when it comes to actually
start educating your kids about money. We know that do
it in school very often or at least not that
I know. Up when it comes to you know, when
(21:04):
we're little kids and is there some good ways to
do that to teach them about money?
Speaker 5 (21:11):
Yeah, you know, I think well, the first big thing
is that they're learning about money, whether we want them
to or not.
Speaker 3 (21:17):
They look at how do we do we look.
Speaker 5 (21:19):
At prices when we pick things up in the store,
Or how do they see us reacting when we get
our credit card bill? You know, all of those things
they are learning kind of just by watching the way
we do things. So there's you know, learning happening, you know,
always from the beginning. But one of the big things
we always like to have kids do is get involved
in the decisions, right, you know, whether it's planning for
(21:42):
a vacation or hey, how much can we spend on this?
Or hey should we invest in something that you might
be interested in it? Get them in the discussion early.
I mean, one of the things we have on our
platform that's really key is this whole the idea of
kids choose, parents approve, help kids make decisions. It's like,
you know, do you want to invest in Mattel, Do
(22:02):
you want to invest in Amazon? Do you want to
invest in Apple? And then you know, they can make
the decisions, and you know, parents can say yes or no.
And part of that learning process is, you know, sometimes
they're going to make money, sometimes they're going to lose.
It's it's a learning process, and you know, I think
kids learn from their victories, they also learn from their mistakes,
and talking about those openly helps it be, like you said,
(22:25):
less of a taboo subject and part of real discussion
within the family.
Speaker 2 (22:29):
I have a question off of that, because it's very easy,
I feel like to make that almost like a game,
like it's monopoly, it's just play money.
Speaker 1 (22:37):
It's not my money.
Speaker 2 (22:38):
How do you make that transition into the kids then
taking that truly seriously with their own money in the future.
Speaker 5 (22:45):
You know, that's a great question, and it really is
making sure they understand it's their money, right, I think
one of the things. And you know, we see more
and more states doing this. Denver, New Jersey, like a
lot of areas are starting to do on ancial literacy programs.
The unfortunate part is that just because they have information
doesn't mean it changes their behavior, and studies are showing
(23:08):
that over and over again. The way that we get
kids into good behavior is make it real, make real
choices with real money, not simulations or games. Make it
so that, hey, this is your ten dollars, twenty dollars,
this is your allowance. Let's make some good decisions around that.
That's the way to make it real for them and
(23:29):
have them build real hands on experience. I think one
of the things we find is that today, like the
entirety of information about investing is in your pocket own.
So it's not a knowledge problem, it's a behavior problem.
So the only way they build that is with practical experience,
that's real.
Speaker 2 (23:47):
I have loved your insight on so many things, and
so I need your input on this argument discussion I
guess that I'm having with my mom because we myself
and my siblings growing up, we were not allowed allowances.
We oh, that was waiting A good question in my
baby's sister. Now she's six years old and she gets allowances,
and so we have this discussion, and you're your boys.
Speaker 1 (24:08):
You're right, Well, I have a.
Speaker 2 (24:10):
Different value around money than she might have growing up
with you and your boys.
Speaker 1 (24:14):
What did what did you decide to do?
Speaker 5 (24:16):
Oh? That's a that's a really good question. Because there's
there's two big schools of thought. One school of thought is, hey,
you know, you don't get any money unless you do chores, right,
like the dishes? About that, right, which makes sense, right.
And there's another school of thought, which is when you
(24:37):
teach kids that you only do chores because you're paid,
then they lose the altruistic view of you should do
something because you're part of the family, which is, no,
I'm not going to pay you to do you know,
the dishes or the laundry. You do those because you
live here and you are part of the family and
you contribute to that effort. But what we do is
(24:59):
we do of a hybrid between those two, which is,
you do certain basic things because you're part of the
family and you have a general responsibility to the community
as a whole. But if there's a specific project, which is, hey,
I want you to paint the garage, I'd like you
to assemble this thing, that's more project oriented, you know,
in those cases, I'll say, hey, I'll give you X
(25:21):
dollars for this project because it's not part of normal
daily activity.
Speaker 4 (25:26):
Right.
Speaker 5 (25:27):
So we do a mix between the two. But I
think that's one of the things that's so important is
that when we have that conversation. I think the conversation
that you had with your whether it's your mom or
your sister, even having that conversation is important because it
establishes what's your family's values around finances. And you know,
(25:48):
the right answer for some families are not the right
answer for everybody, right, So I think what's important is
look at your own family, look at your own financial circumstances,
look at the personality of your kids, right, you know,
I think we as parents, we often find that hey this,
you know, this one strategy rule works for one kid
doesn't even work for the other kids. So I think
(26:08):
we want to make sure we're flexible and adaptable and
know the trade off that we're making in each case.
Speaker 1 (26:13):
Victor Wang, the CEO of Stockpile, They're ready to help you.
And Victor, what's a good place they can find you.
Speaker 5 (26:20):
It's just go to stockpile dot com. You'll see all
the things that we have available for kids and families.
And one other thing that you know we talk we're
talking about dad and a debt that's accumulated during college.
We do have a special tuition rewards program where kids
and families can earn reduction in college tuition for certain
(26:41):
specified schools, so you can find more information about that online.
Speaker 1 (26:44):
Sure, appreciate it. Victor Wang, CEO of Stockpile, thank you
a million times for giving us so much of your
time today. Appreciate it, no problem.
Speaker 5 (26:52):
Thanks so much for having me on you bet.
Speaker 2 (26:54):
Let's continue on this path of becoming financially literate with
our next segment, you know it, Dollars and Cents with
Denny Smith ninety three WIBC.
Speaker 1 (27:03):
All right, everybody sing along with us now, you know you,
Oh you've got a friend, and Denny, You've got a friend.
And Denny, I know you love this. I know you do, Denny.
I hope the listeners love it just as much because
(27:24):
it's run and we're in radio.
Speaker 2 (27:26):
We're not inquired. Okay, you just remember what your friend.
Speaker 1 (27:31):
Denny said, Oh you've got a friend, and Denny, Oh yeah,
you got a friend Smith.
Speaker 3 (27:40):
All right, lady, thank you for that wonderful introduction. Today
is going to be a little bit of a book review,
but it's also something that's near and dear to all
of us who have birthdays. There was a book written
a few years ago called The Triumphs of Experience, and
it was written by doctor George Valliant, who was a
Harvard professor, and he got what was known as the
(28:01):
Harvard Grant Study going. Now, here's the situation. America is
aging faster than the batteries in our TV remote. Eight
thousand Americans are turning sixty five every single day. Pat
Sullivan turned last month earlier in the month. But by
twenty fifty, the number of people over eighty will more
than triple, which means there'll be more octagenarians than there
(28:23):
are teenagers hanging around them all. So what doctor George
Valiant was attempting to do was to study the process
of aging and happiness. He was sort of a psychiatrist.
He was a researcher and a storyteller all rolled into one.
If you remember the series Marcus WELLBMD, it was sort
(28:44):
of like Marcus Welby had a subscription to Scientific American.
Because what Valiant did was he broke it down into
the science of things. He wrote several books. But this
triumphs of experience that I got to explore last week
is the big win. Gives us insight into what it
really is going to matter to people as they grow
(29:04):
into their eighties and nineties. Now my mom is ninety five,
still going strong. But this study was basically focused on
men and later updated with women. So here are the findings.
We're always like, it's it's going to change, it's never
going to change, Okay, So these are sort of conversational bullets,
so you jump right in here. First of all, for
(29:27):
these guys that were studied for since nineteen thirty eight,
and I think about that childhood matters, but not forever.
A loving childhood is a lifelong strength, is what Valiant found.
But even if you didn't get the Hallmark movie version
of family life, it still possible to rebound later. And
you know, even in our own experience, we know people
like this, people who had crappy childhoods, but it really
(29:49):
are really nice people. And likewise, we know people who
had great childhoods who turned out to be jerks. Right.
You know, the general finding was that childhood matter. Now
here's another one. Maturity really pays off. People who learn
healthier coping skills are better. And what that translation means
is that screaming at traffic probably isn't a long term
(30:10):
retirement strategy. You've got to be.
Speaker 1 (30:14):
I mean, are you sure, especially here in Indianapolis.
Speaker 3 (30:21):
Road rage doesn't count, all right. So here's another one,
and you guys will identify with this. Love and relationships
whin yeh. Emotional intimacy, marriage friendships predict successful agent far
more than InCom or status. Valiant said it best, happiness
is love, full stop. That he wrote it that way.
Happiness is love. And I believe that.
Speaker 1 (30:40):
Who said money doesn't buy happiness.
Speaker 3 (30:43):
No, money doesn't buy it, just makes it easier.
Speaker 1 (30:45):
Are you the one that said that?
Speaker 3 (30:47):
What I always said was money isn't everything. It's just
that having money makes things so much easier in life.
It's a weird people in your life that are worth
a million bucks. Here's another one that won't surprise anybody.
Booze is bad news. Alcohol abuse was the strongest predictor
of poor health and broken relationships, meaning that men who
drank their way through didn't exactly triumph and experience, they
(31:08):
really suffered. Here's a fun one. The longer your grandmother lived,
the better your mental health might be, which is a
flat way of saying, call your Grandma's good for you too.
It is never too late. Valiant always said, It's never
too late. Growth and change keep happening. Even into your seventies, eighties,
and nineties. So don't stop developing. You just get to
(31:29):
seem to just count like to do it. And if
people say, you know, I'm going back to school, no,
you're going forward to school. I heard that and I thought, oh,
so here's that you like going forward into school? I
like it too. But here it is a Harvard psychiatrist
researcher in one of the world's leading experts on adult
development and aging. He was known for translating this dry
data into life lessons with warmth and humor and compassion. Again,
(31:52):
this book is just fabulous. It's called Triumphs and the
Limitations with a wink. Here you go. Yeah, the study
began with privileged Harvard men, so think blazers rowing teams,
not the guys from the bowling alley. Okay, the valiant
cross checked findings the study of the Boston inner city
(32:12):
men with gifted women. So he was smart enough to
know that I can't take this one demographic. So it
wasn't just about Ivy League silver spooner types. Now here's
the takeaway message. Successful aging isn't locked in by your
genes or by your teenage report card. For that man,
it comes down to love, health, relationships, and resilience. The
kind of stuff you can inflict, you can influence no
(32:34):
matter what your age is, or, as one waggy lady said,
it might put you don't retire from life, you just
retire from mowing your own lawn. I really liked that.
Speaker 2 (32:44):
I'm ready from life, ready to Grandma.
Speaker 1 (32:51):
Smith.
Speaker 3 (32:52):
So here's the secret if you want to age well,
love deeply, stay connected, keep healthy, and maybe skip that
third martini. In other words, triumphs of experience. It isn't
just about the Harvard men. It's about a roadmap for
all of us to try to turn our later years
into our greater years. So there you go, ladies, Thank you.
Speaker 1 (33:09):
Denny Denny Smith. Dollars and cents. We've got another hour
left here of your labor day, first day, right here
on ninety three WIBC. The news is next
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