The average child spends about eight hours a day in front of a video screen. We’ve now seen a generation of children raised on a digital cocktail of social media, video games, and streaming services. A panoramic window into the world, algorithmically tuned for your child’s wants and subconscious desires.
Ferraris turn more heads than Hondas, a human preference so intrinsic that it shows up in children. And wealth is more attractive than knowledge. Countless hours of affluence are processed by brains that can’t even comprehend a simple cash flow statement.
We’ve all encountered the proverbial trust fund baby with more money than sense and think, ‘what went wrong’? The grunge of teen spirit cannot be washed away with money. It must be bathed in lessons hard learned under watchful guidance.
Even then, the stink of poor choices persists as potent reminders that the stakes are real. Guidance is the key. What form this guidance takes is debatable and can vary depending on the child or situation.
Ben and Brent argue their approaches to how we should introduce our children to wealth. Their approaches vary, demonstrating that there is no one ‘correct’ path, but branching paths. The objective should be to move on those paths that chart in the generally correct direction.
Ben prefers the use of UTMA (Uniform Transfers to Minors Act) account as a training ground with a liberal degree child responsibility while Brent favors a more conservative tact with tighter controls.
It’s a lively discussion, and we are curious to find out where you stand on the subject. What age do you think your kids would be ready to handle a meaningful sum of capital?
Send comments, questions, and requests for show contents to ben@nwmgadvisors.com or brent@infinitwealthplanning.com!
____________________________
Sources:
Cost of College over Time: https://nces.ed.gov/programs/digest/d21/tables/dt21_330.10.asp
‘Trump’ Accounts: https://www.cnbc.com/2025/05/22/tax-bill-maga-baby-bonus-now-called-trump-accounts-who-is-eligible.html
____________________________
About your Hosts
Ben Jones, CFP®
Managing Director, National Wealth Management Group
Sign up for Ben’s newsletter at www.karastick.com
Follow him on X @thekaratstick
https://www.linkedin.com/in/ben-nwmg/
___
Brent Gargano, CFP®
Founder & Advisor, Infinite Wealth Planning
www.infinitewealthplanning.com
Connect With Brent -> linkedin.com/in/brent-gargano-cfp®-2067b573
____________________________
Editor:
Trevor Gargano
Email: Trevor@trevorgargano.com
Linkedin: https://www.linkedin.com/in/trevor-gargano-72727b67/
Website: TheDigitalQuarterback.com
____________________________
Follow our socials to support the podcast; see extra clips and announcements!
Instagram: https://www.instagram.com/moneyalchemistpod/
X: https://twitter.com/moneyalchpod
Facebook: https://www.facebook.com/profile.php?id=61556458987483
____________________________
Disclosure:
Investment advice offered through National Wealth Management Group, LLC.
All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly.
The information presented is for educational and informational purposes only and is not intended as a recommendation or specific advice.
Popular Podcasts
CrimeLess: Hillbilly Heist
It’s 1996 in rural North Carolina, and an oddball crew makes history when they pull off America’s third largest cash heist. But it’s all downhill from there. Join host Johnny Knoxville as he unspools a wild and woolly tale about a group of regular ‘ol folks who risked it all for a chance at a better life. CrimeLess: Hillbilly Heist answers the question: what would you do with 17.3 million dollars? The answer includes diamond rings, mansions, velvet Elvis paintings, plus a run for the border, murder-for-hire-plots, and FBI busts.
Crime Junkie
Does hearing about a true crime case always leave you scouring the internet for the truth behind the story? Dive into your next mystery with Crime Junkie. Every Monday, join your host Ashley Flowers as she unravels all the details of infamous and underreported true crime cases with her best friend Brit Prawat. From cold cases to missing persons and heroes in our community who seek justice, Crime Junkie is your destination for theories and stories you won’t hear anywhere else. Whether you're a seasoned true crime enthusiast or new to the genre, you'll find yourself on the edge of your seat awaiting a new episode every Monday. If you can never get enough true crime... Congratulations, you’ve found your people. Follow to join a community of Crime Junkies! Crime Junkie is presented by audiochuck Media Company.
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.