December 10, 2021 • 31 mins
Robin Taub returns to talk about her latest book, The Wisest Investment: Teaching your kids to be responsible, independent and money-smart for life.
We chat about the common concerns parents bring up with Robin with respect to money and the financial decision making skills they want to empower their children with. We then dive into what parents can expect to learn from this quick, strategy-filled guide that includes chapters and tactics for children of all ages.
To take advantage of Robin's special offer (mentioned at the end of the podcast), you can email her directly at books@robintaub.com.
LINKS
Buy the book: Amazon affiliate link
Robin's website: https://robintaub.com/
Book website: https://www.thewisestinvestment.com/
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Robin Taub (00:00):
Well, I have to admit I did not pay a regular
allowance. We were typicalparents, we would forget some
times we would not have money onus. So I think if I could have
automated that, or systematizedit better so that my kids did
have more of a regularopportunity to manage money,
because that's really why Ithink allowance is great. It
(00:21):
does get
Preet Banerjee (00:22):
couldn't tell him that you're simulating
unemployment or something byjust having a stock.
(00:45):
This is mostly money. And I'myour host, Preet Banerjee, and
on the show today I'm joined byRobin tobe, author of the new
book, The wisest investmentteaching your kids to be
responsible, independent andMoney Smart for Life. Robin is a
Chartered ProfessionalAccountant by training, having
previously worked at KPMG andCitibank, among other places.
(01:06):
And now she is a financialwriter, speaker and consultant
Robin, welcome back to the show.
Robin Taub (01:11):
Thank you, for you so excited to be back.
Preet Banerjee (01:13):
I'm always pleased to have you on the show,
especially now that you are myfavorite guest of all time
because you for longtimelisteners who had listened to
the last episode, you will knowthat Robin dropped off a very
very, very nice Scotch a port Land it's a silent still they
don't make it anymore. And atthe like the last DRAM just
(01:36):
sitting there in my cabinet. I'mwaiting for a super special
occasion to crack it open. Andyeah, so because of that you our
favorite guest while
Robin Taub (01:46):
I love that a shout out to my husband, Jonathan for
providing that
Preet Banerjee (01:51):
little Yeah, so much, Jonathan. Much, much
appreciated. Okay, so you'reback on the podcast. And the
reason is to talk about this newbook of yours the wisest
investment. So let's, let'sstart with the 30,000 foot
perspective on this book, who isthe target audience? And what
will they learn from this book?
Robin Taub (02:12):
Its parents. And I know that sounds really broad,
but it's for all parents whowant this for their children who
want their kids to beresponsible, independent and
good with money so that they canmake appropriate decisions for
the rest of their lives longafter we're gone. As parents.
Preet Banerjee (02:31):
Right. Okay, so let's first take a step back.
And I want to get your thoughtson what are the biggest concerns
that you hear about fromparents, when it comes to
teaching children about money ortalking to children about money?
What has historically been thosetop concerns that you've heard,
Robin Taub (02:49):
parents do not want their kids to be spoiled, or
entitled, I think it's somethingthat keeps them up at night,
especially with wealthierfamilies is that they're they
want their children to have asense of purpose, not a sense of
entitlement. And I think whatgoes with that is having this
basic skill of financialliteracy, I think parents are
(03:12):
worried, especially if they'renot doing a good job themselves,
that their kids won't befinancially literate. So they
won't have the knowledge, theskills, the confidence, to make
appropriate decisions atdifferent stages of their lives.
So parents know, this isn't animportant thing to have. It's a
basic life skill. And I thinkthey worry that either they're
not teaching their kids, andmaybe they're not learning in
(03:34):
school. And if they've struggledpersonally, or they know others
who have struggled with money,they know what a negative effect
it can have on your life, andthey really want better for
their kids. So I think those arethe two main things that parents
are concerned about.
Preet Banerjee (03:48):
You know, it's interesting, you touched on
something which you address, Ithink in the introduction to the
book is your concern that someparents might have that they may
not be qualified to teach theirmoney about kids, or maybe they
don't feel that they have theskill set, or knowledge to teach
their kids about moneyappropriately. And so you, you
tackle that head on. And so thebook does also give kind of a
(04:11):
general framework that thatparents can apply themselves,
especially if they feel thatmaybe there's a part of their
finances, that they've beenneglecting for various reasons.
Maybe they just haven't had timeto dress it because life is just
so busy. And then you throw kidsinto the mix, and you don't have
a spare second, and I think sothere's two things I want to ask
him this question. One is, whatdo you tell parents who are
(04:34):
worried about, you know, theirability to teach their kids
about money? And why did you getthis book? And then second,
where did they find the time to?
And what was your strategybehind this book and how you set
it up to sort of take intoaccount that they don't have a
lot of time?
Robin Taub (04:50):
Right? So first of all, for parents who are feeling
that way, you're not alone.
There was a study that foundthat something like 78% of
parents who tried to teach Forkids about money, but two thirds
didn't feel they've been verysuccessful at it, and more than
half didn't even know whatinformation they needed. So we
know that this is anoverwhelming topic. And parents,
you know, they do find it hardto teach their kids. And it is
(05:14):
because either a lack ofknowledge, a lack of confidence,
a lack of time. So I did try toset this book up in an
accessible way to make itapproachable for parents. And,
you know, the first chapterreally is for them to try and
get their own financial housesin order so that as parents,
they can lead by example,because I feel like as parents,
(05:36):
we are really important rolemodels for our kids in so many
areas, including money. So Iwant to sort of, you know, get
rid of this barrier, that youhave to be a CPA like myself, or
financial expert, like you to doa good job with this you don't,
this is something you can learnalong with your kids. So don't
wait, you know, don't feel likeyou have to be perfect. You
know, even mistakes that you'vemade can be opportunities to
(05:59):
share those with your kids, andwhat you learn from them. So,
you know, when it comes torunning a busy household, and
you know, you're working and youfeel like I just don't have the
time to teach my kids, how am Igoing to fit this into our busy
lives, I say to to parents tolook for teachable moments. So
these are opportunities to builda money lesson into your day to
(06:20):
day lives. And they're like lowhanging fruit because they just
come up all the time. As youknow, we're constantly
interacting with money. We'realways transacting, and it's
just an opportunity to talk toyour kids about what you're
doing or how something works,and answer their questions.
Rather than setting aside aspecific time every week, you
know, these things will justcrop up. And then it's more
(06:41):
meaningful when it's happeningat a point where a decision is
being made or something that'srelevant in in all of your lies.
teach that lesson.
Preet Banerjee (06:52):
Yeah. And, you know, I think that's great.
Advice. And I think it'sreassuring for anyone who's
potentially you know, buyingthis book, either for themselves
or for friends that they thinkwould benefit from it. Wink,
wink, nudge, nudge holidayseason coming up. Great stocking
stuffer, idea. Yeah, and one ofthe things that we talked about
(07:15):
is these teachable moments. AndI know, having talked to people
in the field of financialliteracy, financial technology,
and specifically referring to aconversation I had with a friend
of mine, Dr. Abney, Shaw, who'sa specialist in the pain of
payment, one of the things thatwe had talked about was, you
(07:37):
know, the salience of the methodof payment, and how as we move
to a cashless society, cashactually becomes more abstract,
right. So it used to be peoplewere used to dealing with cash.
And as we move to a digitalworld, digital money becomes
more abstract. But now it'salmost the other way around for
kids who may not actually see alot of physical cash anymore,
(07:59):
especially during the pandemic,when a lot of businesses that
were not even accepting cash.
Everything is done online. Andso my question is, do piggy
banks still have the sameeffect? Or use cases that they
used to? Or is there some kindof, you know, digital form of
piggy bank strategy that yourecommend today?
Robin Taub (08:25):
Okay, so the answer to that, and it's a great
question. It's one of thereasons I updated the book,
because we are basically livingin a cashless society now, and
it was accelerated by thepandemic. So I'd say with young
kids, and let's say five toeight, a piggy bank is still a
great way to start, hopefully,parents, you still have some
cash lying around, or you canget some, because it's tangible.
(08:46):
Like you said, it's concrete.
It's not conceptual. So it'seasy to they're easy for them to
understand that you can, youknow, teach them how to make
change, you can play countinggames, you can show them the
cool images on Canadian money.
So And what I also recommend isusing a multi sided piggy bank,
which has a slot not just forsaving, but also for spending,
(09:11):
sharing, donating so it's gotfour slots, one for safe, one
for spent one for donate, andone for invest.
Preet Banerjee (09:19):
Oh, so you're this is an audio only podcast,
but you're holding.
Robin Taub (09:22):
I'm showing you but Yeah, too bad. Your viewers
can't see it yet. Yeah, but it
Preet Banerjee (09:26):
is a it is a pig with four different slots. And
it's clearly labeled save,spend, donate invest. So yeah,
where do people get Are thoseyours like?
Robin Taub (09:37):
Fish? That's like one of the top questions I get
is where can I get that piggybank? And the answer is, it's a
company called Money savvygeneration. And if you go to my
website, which is Robin tov.com.
I have a resources section andit's on there as a listed
resource because I just thinkit's like a perfect thing for a
young kid to start off with. Butgoing back to your question,
(09:57):
remember how we always talkedabout The jars system for adults
at one point, like put cash injars. And when you know, when
you're out of the money, youknow that you've hit your budget
for that category. And that washow people, well, that's just
not realistic anymore at all toyour point. So we do have this
challenge now that we're livingin a digital world and our kids
are on their phones all thetime, they're using, you know,
(10:18):
their phone, for paying forthings for social media for all
kinds of stuff. So why notharness that technology and have
it help us? That's how I'veapproached it. And I think, you
know, once a kid is preteen,maybe 1012, I think they are,
you know, once they have aphone, they are able to
understand these conceptualversions of money a little bit
(10:39):
better, like tapping with adebit or credit card or with
your phone. And as you know, allthe banks in Canada have these
all the mobile banking apps havefeatures built into them that
will that can really help youtrack your spending and control
your finances. So whether it'ssetting up alerts and
notifications, to let you knowthat you've spent money, again,
(11:02):
like you said, the pain ofhanding over cash to someone is
now gone. So how do you makethat? How do you replicate that?
How do you make that kind ofspending feel real again, so you
can set up notifications. If youwear a smartwatch, you can get
buzzed on your watch, to justremind you that you've spent
money, you can use the use theapp to help you track your
(11:22):
spending. And then you can usethe information you get from
tracking to help you setbudgets, you can check your
balance, it's just it's rightthere on your phone. So I feel
like even though it's harder insome ways, we also have so many
more tools just in our pockets.
Preet Banerjee (11:38):
That's a great point. And I think, you know, a
great business idea which no onewould invest in is instead of
having like a, you know, like avibrating alert is to one that
one that actually shocks youlike some kind of painful shock,
Robin Taub (11:53):
like low man very Pavlovian.
Preet Banerjee (11:56):
Yeah, I don't know if that would fly. But to
introduce the actual pain ofpayment,
Robin Taub (12:02):
instead of just that little vibration, you get like
on an Apple watch.
Preet Banerjee (12:05):
Oh, can you imagine tilting me maybe in the
metaverse one day, you know,every time you make a savings
contribution, is triggers somekind of dopaminergic response in
your reward system in yourbrain. And yeah, that would be
really cool. Yeah, yeah. Maybe abit too big brother ish. But
Robin Taub (12:22):
yeah, I mean, it is I don't think the banks are
gonna be too happy about, youknow, shocking their customers.
And sometimes, it is like, evennot literally shocking, but I'm
having some sticker shockmoments right now, when I see
the price of certain things, youknow, we could get into that
hold inflation or inflation orSri inflation discussion. But
anyway, there are also lots ofapps to that parents can use to
(12:48):
help teach their kids aboutmoney to help give, you know, to
pay their allowance, and thosekinds of things that are tied
back to some learning as well.
Preet Banerjee (12:55):
And all those you have that in your resources
section on your website? Yes,yes. Yeah, that's great. Yeah.
So if anyone's listening, youwant to learn about those
resources in apps, check outRobbins website. Okay, so let's,
let's take another step back andsort of give a general overview
of how the book is divided. Sothere's five chapters, and it is
(13:16):
a short read, it's not anintimidating read by any names,
and it is chock full ofstrategies and extra, like you
get right to it. So can youbreak down the flow of the book?
Sure.
Robin Taub (13:27):
So the first chapter, as I mentioned earlier,
is really for parents to helpyou get your own financial house
in order. So you can lead byexample, and be good financial
role model. And I talked about,you know, really the why behind
this, why is teaching kids aboutmoney, the wisest investment,
and, and I also, you know, touchon financial literacy in school,
(13:48):
because that has also reallyimproved a lot over the last 10
years. And I also get into these11, healthy habits of financial
management, that will helpparents, you know, get their
house in order, and that theycan also model as good financial
behavior and habits for theirkids. So things like paying
yourself first, and having afinancial safety net, which
(14:11):
would mean an emergency fund andappropriate insurance. And then
also, what I added in thisedition is having updated wills
and powers of attorney, becauseI think if the pandemic taught
us anything, it's like you gotto be prepared. So um, so that's
chapter one. And then I havejust four other chapters in the
(14:32):
book, there's only five andtotal as you say, it's under 200
pages. And each chapter is for aspecific age group. And I have
four age groups in the book,young kids, preteens, so nine to
12, teenagers 13 to 18 or so andthen young, young or emerging
adults 19 And up. And thenwithin each of the four
(14:54):
chapters, I structure of thechapter under these five pillars
of money which are very similarto the piggy bank. So earn first
you have to earn money beforeyou have any choices with money.
And then you can decide if youwant to save, spend, share, or
invest for the long term. Soeach chapter gets into specific
(15:18):
topics, examples, familydiscussions, activities, very,
very tactical stuff for each ofthose five pillars for that age
group. So it's you're alwayssharing age appropriate
information with your kids,because that's really important
that it's information that theycan absorb that's relevant to
(15:38):
their lives. So I really triedto, and I try to build on it.
You know, that's the idea is youstart when they're young, and
you build and you build, and bythe time they're emerging
adults, they have a really goodfoundation.
Preet Banerjee (15:50):
Now, I think one of the challenges is the
different sources ofinformation, the different
mediums where children can getaccess to information about
money, good advice, or badadvice. So, you know, for for
parents whose kids might bewatching, I don't know, crypto
bros on YouTube or Tik Tok, it'swhatever. Right? Yeah. And you
(16:13):
know, some of them are peddlingsome pretty strange messages.
There's some good information,but I think part of the
perspective possibly, for someof them is that the old, the old
people, they just don't get it.
Right, you know, money ischanged. And, you know, you
should be investing in Bitcoinor whatever. And, you know, I
know, some young kids weregetting exposed to this, and not
(16:37):
some of the other sort of morebasic stuff. Yeah. So what what
is your advice to parents to,you know, deal with this, the
these conflicting sources ofinformation that they may be
exposed to? And that's not justlimited to money, that's the,
you know, yeah, goes for anytopic,
Robin Taub (17:00):
for sure. But let's say, you know, when it comes to
money, if your kids are on ticktock, are are on YouTube, and
they are learning about money, Imean, I think just the fact that
they're interested is good, andyou want to encourage that,
right. But you have to take theinformation that you're learning
with a grain of salt, sometimesbased on who it's coming from.
(17:22):
So I think as parents, that'salways our job is we want to
make sure that our kids arelearning from, you know, valued,
trusted sources. And, you know,I mean, I think about my own
kids, and I know that they do,especially my son, I know, he
learns a lot on YouTube aboutmoney. He's older, though, but I
think with younger kids, youwant to have a conversation with
(17:44):
them. And maybe that is, youknow, the opening to talking
about money, because that'ssometimes a awkward or
uncomfortable thing for parentsto do. But if their kids are
following these influencers, andthey have these ideas, it is an
opening to have this discussionand maybe present the other side
of the the, maybe the lessglamorous, less cool, or less
(18:08):
exciting way about making money,which is kind of like that slow
and steady wins the race, youknow, patients and traditional
asset classes, but it's just acounter to some of the things
that they may they may be seeingjust like mean stocks and crypto
and stuff like that. So I thinkyeah, the book is a little more
I do talk about cryptocurrenciesand robo advisors, but it also
(18:30):
really gets into the veryfundamental things like stocks
and bonds when it comes toinvesting. And, you know,
overall money management.
Preet Banerjee (18:41):
Yeah, man, and not at an intimidating level, I
would say so, you know, I skimthrough the book, and, you know,
the, the topics on investing.
For some people, they say, okay,that's, that's where I check
out. And I'll say that it isreally presented and couched in
a way to say, well, you know,here's how you can learn about
it. Here's not, you know, 10hours of your of your life that
we're going to now dedicatelooking at P E multiples,
Robin Taub (19:06):
right? It's not technical that way. No, it's
really meant to be more of ahigh level introduction to like,
what is a stock? What is a bond?
How do we, you know, construct aportfolio in a really you know,
30,000 foot level right?
Preet Banerjee (19:22):
So you're not you're not telling parents
listen, you know, when it comesto your six year old and you
want to teach them aboutleveraged buyouts, here's how
you do it. It's not
Robin Taub (19:29):
Yeah, or Spax No, it's not about that. You know,
and even like a six year old orlike I talk about, you know, a
lemonade stand. And I actuallymy neighbors down the street,
we're doing like, I guess the2021 version of a lemonade stand
which is they were making theselike beautiful beaded bracelets,
and they were selling them andthey were donating half of their
(19:52):
profits to Sick Kids Hospital inToronto, so actually amazing
their picture on Instagrambecause they were like, so cool.
These girls are loved by 12. SoYou know, investing, you know,
that's a form of investing. It'sinvesting in a business and
stuff. So, yeah, age appropriateage appropriate. I always want
to make sure that the, you know,parents share age appropriate
information with their kids.
And, and that's, I mean, with myown kids now, like we actually
(20:14):
do talk a lot aboutcryptocurrency. And we talk
about means means talks, becausemy kids are in their mid to late
20s. And my daughter's even likedoing her CFA. So she's the
they're speaking a differentkind of language. Right? Yeah.
Preet Banerjee (20:28):
Well, you know, you mentioned those young girls
who started that wild with thebeat. Yeah, yeah. So I actually
wanted to ask you about, youknow, the ease of starting a
business online, like thebarrier to entry now is super
low. You don't even need capitalto start up a website and start
(20:48):
selling things. And I think I'veseen teenagers who are like,
like, drop shipping. From Chinathrough? Yes,
Robin Taub (20:57):
I know. It's, it's unbelievable how sophisticated
our kids are. So these, thesegirls have an Etsy shop. Yeah,
like, they're reallysophisticated. And it's very
impressive. Um, yeah. And Ialso, I think it was two weeks
ago, I was on this CP, Ontariodid a financial literacy
workshop for high schoolstudents. And, you know, the
kind of questions that they'reasking are very sophisticated.
(21:19):
And you're right, you can starta business, and E commerce kind
of business or an Amazonaffiliate kind of business
really easily nowadays. So Ithink understanding some really
basic stuff about business like,you know, buying low and selling
high and those kinds ofconcepts, I really do try to
teach, teach that stuff in thebook. I mean, and then like, you
know, you've just developed agreat investing course, if
(21:41):
people want more. There's somany great self paced, video
based courses that you can doonline, depending on, you know,
you want to do it yourself withwith ETFs, you want to get into
trading, do you want to get intooption strategies? Like there's
lots of great information outthere, especially yours?
Preet Banerjee (22:02):
Thank you, when it comes to failure? What is
your perspective on how muchfinancial failure children
should be allowed to experience?
So So for example, where I'mgoing with this is I kind of
thought that it would be reallygreat again, with the lower
barriers to entry of starting anonline business, to encourage
(22:23):
kids to start online businesses.
And if it takes off great, andif it fails, that might be even
better, because I feel likeyeah, the greatest teacher sins
is failure.
Robin Taub (22:37):
Yeah. Fail fast. You know, isn't that like a Silicon
Valley thing? Yeah.
Preet Banerjee (22:43):
Fail fast and pivot? Yeah.
Robin Taub (22:45):
So first of all, I mean, as a parent, it is hard to
watch your kids fail, it's hardto watch them struggle. And I
think our natural instincts asparents to protect them kick in,
and we want to bail them out.
But when it comes to money, thatis not the best thing. Because
that you want them to makemistakes, when the stakes are
low, when there's not a lot ofmoney involved when the mistakes
(23:06):
are not going to be expensive,because they will learn if they
waste money on a toy that theynever end up using. Or they pay
full price for a video game thatthey could have waited a month
and bought used. They'll they'lllearn something from that and
take it away for the nextdecision that they make. Whereas
if we're always stepping in andgiving them more money and
bailing them out, then they'lljust think I don't have to worry
(23:28):
about this. There's always goingto be more money where that came
from, you know, I don't need tobe careful. Money's not a finite
resource. And we all know thatthat's not true. So
Preet Banerjee (23:40):
great. P QE, parental quantitative easing.
Robin Taub (23:46):
I love that. Yeah, exactly. Like taper off. Stop
bailing them out. You know,everyone learns from their
mistakes me, me included. I'msure you're the same. So oh,
Preet Banerjee (24:00):
I have made some offers. And those are those the
those are the situations where Ilearned absolutely the most saw,
I agree with you 100%. I thinkit is critical to allow a
certain level of failure. And Ithink it pays off in the end.
But yeah,
Robin Taub (24:18):
it's part of them becoming independent. It's not
an easy transition. But it youknow, it's not just with money,
you sort of have to some pointfigure, you've done your job.
And that's why I like talking alot about values Preet. And that
was sort of one of the otherstrategies in the book is being
really clear and understandingwhat your values are what's most
(24:38):
important to you because theycan act as an invisible
framework to hide to help guideand prioritize financial
decisions and other decisions inlife because at some point,
you're going to have to sort ofstep back and let your kids make
their own decisions throughouttheir lives, including money and
it's just not great to be ahelicopter parent. on many, many
(25:01):
levels,
Preet Banerjee (25:02):
I'll have to take your word for it because I
don't have kids. So I rely onexperts like you, to inform us
about how to teach kids aboutmoney. Now, I have one last
question for you. Where's mylist here? Yes. You mentioned in
your book. You mentioned in yourbook that your best investments,
(25:25):
were your two kids. Yeah. I wantto ask you, if you could do
anything differently whenteaching kids about money, if
you could turn back the clock,are there any things that you
would have done differently?
Robin Taub (25:38):
Hmm, well, I have to admit, I did not pay a regular
allowance. We were typicalparents, we would forget some
times we would not have money onus. So I think if I could have
automated that, or systematizedit better, so that my kids did
have more of a regularopportunity to manage money,
(25:58):
because that's really why Ithink allowance is great. It
does get
Preet Banerjee (26:01):
couldn't tell them that you're simulating
unemployment or something byjust having that play. Stop.
Robin Taub (26:07):
Yeah, so um, you know, that would be one thing.
But, you know, generally, I feellike it's gone pretty well. I
mean, I guess another thing. Somy kids, when they, they each
had a Bar Mitzvah were Jewish,and they got money that's
traditional that you get somemoney. And I basically just
invested it on their behalf in acouch potato portfolio of index
(26:32):
funds. And, you know, it was aninterest account at a discount
brokerage, I wish I had gottenthem a little more involved in
that at the time, they wouldhave been 13. So a little young,
but it wasn't really until theywere, they were 18. And they
could open a TFSA. And we couldtransfer it over that I really
started getting them involved inwhat I had invested in. And I
(26:54):
mean, it wasn't like I made abig mistake or anything, but I
think I should have discussedmore with them, and seen what
they what they wanted to investin, as opposed to me just trying
to do something simple and lowcost that would grow and then
knowing they would take it overone day. So rude.
Preet Banerjee (27:11):
Yeah, alright, I'm going to leave it there,
because they don't want to giveaway the entirety of the book, I
want people to buy the book. Sothey have a reason to do so. And
also to suggest it as a greatstocking stuffer for people
around you who may benefit fromthe book. Now, Robin, as you
know, the last minute, twominutes of the every episode is
(27:34):
open floor for you to give a abrazen commercial, so feel free.
Robin Taub (27:40):
Alrighty, I'm ready.
So if you're looking for thebook, please go to the wisest
investment.com. That's thewebsite is just the books name,
the wisest investment calm. Andyou'll see links there to Amazon
for the physical book and theKindle version. And there's also
a free financial role model selfassessment, if you sign up. So
(28:01):
we were talking about theimportance of being a good role
model and walking the talk foryour kids. So you can get that
for free there. If you'reinterested in doing the values
validator, then check out myother website, which is Robin
hood.com. That's the one withthe resources. So that's a free
values validator. And thenactually I want to mention that
(28:22):
we are doing a promotion onbooks right now. So if people
order directly from us books atRobin tov.com until December 17,
free shipping, signed copy, andwe are going to donate we're
going to match. So for everybook that's ordered through us,
we're going to make a donationto a charity that supports youth
(28:44):
financial literacy. Oh, so onewas done for one book. Yeah. So
do
Preet Banerjee (28:50):
you want to mention mention how people can
take advantage of that offer?
Robin Taub (28:54):
Yeah, just email books at Robin tov.com the
number of copies and the addressand we will invoice you.
Preet Banerjee (29:02):
Okay, now include that on the show notes
as well. If people are listeningin, that'd be great. Quickly
look on your phone, tap the linkto do that. Robin, thank you.
That's been fantastic. And myvery last question before I let
you go is what is the last DRAMthat either you or your husband
have enjoyed?
Robin Taub (29:20):
He has been into these Japanese whiskies lately
so I think it's he picky and Iagain I don't always know
exactly, it's just like a goodone in my life to have some of
this. So I have differenttastes. I sort of like the more
mild or sherry cask typewhiskies he likes to smokey PD
(29:41):
ones, and my son does too. So Ithink it was probably one of his
good Hibiki ones. And I also wealso kind of got into bourbon.
No, yeah. So do you like it or
Preet Banerjee (29:53):
are you have a few bottles? It's it is a nice
change. Yeah, sure.
Robin Taub (29:59):
Right. Have you do you know pappy Van Winkle? Have
you heard? Ah,
Preet Banerjee (30:03):
yes, I do. I have had that a few times in the
US and only yet at bars but heYeah, he looked at a bottle to
my collection.
Robin Taub (30:13):
He had a client in Louisville and he brought some
back so Okay, in order tomaintain my status is your
favorite task? Yes. I'll have toget you some pappy Van Winkle.
Preet Banerjee (30:24):
Yeah, that's right. You will. I know. Okay.
That's not you don't have to butI love it. All right. All right.
Robin, thank you so much for
Robin Taub (30:33):
having me. It's always so much fun and I
appreciate it. Thanks. Pretty.
Well, I have to admit I did not pay a regular
allowance. We were typicalparents, we would forget some
times we would not have money onus. So I think if I could have
automated that, or systematizedit better so that my kids did
have more of a regularopportunity to manage money,
because that's really why Ithink allowance is great. It
(00:21):
does get
Preet Banerjee (00:22):
couldn't tell him that you're simulating
unemployment or something byjust having a stock.
(00:45):
This is mostly money. And I'myour host, Preet Banerjee, and
on the show today I'm joined byRobin tobe, author of the new
book, The wisest investmentteaching your kids to be
responsible, independent andMoney Smart for Life. Robin is a
Chartered ProfessionalAccountant by training, having
previously worked at KPMG andCitibank, among other places.
(01:06):
And now she is a financialwriter, speaker and consultant
Robin, welcome back to the show.
Robin Taub (01:11):
Thank you, for you so excited to be back.
Preet Banerjee (01:13):
I'm always pleased to have you on the show,
especially now that you are myfavorite guest of all time
because you for longtimelisteners who had listened to
the last episode, you will knowthat Robin dropped off a very
very, very nice Scotch a port Land it's a silent still they
don't make it anymore. And atthe like the last DRAM just
(01:36):
sitting there in my cabinet. I'mwaiting for a super special
occasion to crack it open. Andyeah, so because of that you our
favorite guest while
Robin Taub (01:46):
I love that a shout out to my husband, Jonathan for
providing that
Preet Banerjee (01:51):
little Yeah, so much, Jonathan. Much, much
appreciated. Okay, so you'reback on the podcast. And the
reason is to talk about this newbook of yours the wisest
investment. So let's, let'sstart with the 30,000 foot
perspective on this book, who isthe target audience? And what
will they learn from this book?
Robin Taub (02:12):
Its parents. And I know that sounds really broad,
but it's for all parents whowant this for their children who
want their kids to beresponsible, independent and
good with money so that they canmake appropriate decisions for
the rest of their lives longafter we're gone. As parents.
Preet Banerjee (02:31):
Right. Okay, so let's first take a step back.
And I want to get your thoughtson what are the biggest concerns
that you hear about fromparents, when it comes to
teaching children about money ortalking to children about money?
What has historically been thosetop concerns that you've heard,
Robin Taub (02:49):
parents do not want their kids to be spoiled, or
entitled, I think it's somethingthat keeps them up at night,
especially with wealthierfamilies is that they're they
want their children to have asense of purpose, not a sense of
entitlement. And I think whatgoes with that is having this
basic skill of financialliteracy, I think parents are
(03:12):
worried, especially if they'renot doing a good job themselves,
that their kids won't befinancially literate. So they
won't have the knowledge, theskills, the confidence, to make
appropriate decisions atdifferent stages of their lives.
So parents know, this isn't animportant thing to have. It's a
basic life skill. And I thinkthey worry that either they're
not teaching their kids, andmaybe they're not learning in
(03:34):
school. And if they've struggledpersonally, or they know others
who have struggled with money,they know what a negative effect
it can have on your life, andthey really want better for
their kids. So I think those arethe two main things that parents
are concerned about.
Preet Banerjee (03:48):
You know, it's interesting, you touched on
something which you address, Ithink in the introduction to the
book is your concern that someparents might have that they may
not be qualified to teach theirmoney about kids, or maybe they
don't feel that they have theskill set, or knowledge to teach
their kids about moneyappropriately. And so you, you
tackle that head on. And so thebook does also give kind of a
(04:11):
general framework that thatparents can apply themselves,
especially if they feel thatmaybe there's a part of their
finances, that they've beenneglecting for various reasons.
Maybe they just haven't had timeto dress it because life is just
so busy. And then you throw kidsinto the mix, and you don't have
a spare second, and I think sothere's two things I want to ask
him this question. One is, whatdo you tell parents who are
(04:34):
worried about, you know, theirability to teach their kids
about money? And why did you getthis book? And then second,
where did they find the time to?
And what was your strategybehind this book and how you set
it up to sort of take intoaccount that they don't have a
lot of time?
Robin Taub (04:50):
Right? So first of all, for parents who are feeling
that way, you're not alone.
There was a study that foundthat something like 78% of
parents who tried to teach Forkids about money, but two thirds
didn't feel they've been verysuccessful at it, and more than
half didn't even know whatinformation they needed. So we
know that this is anoverwhelming topic. And parents,
you know, they do find it hardto teach their kids. And it is
(05:14):
because either a lack ofknowledge, a lack of confidence,
a lack of time. So I did try toset this book up in an
accessible way to make itapproachable for parents. And,
you know, the first chapterreally is for them to try and
get their own financial housesin order so that as parents,
they can lead by example,because I feel like as parents,
(05:36):
we are really important rolemodels for our kids in so many
areas, including money. So Iwant to sort of, you know, get
rid of this barrier, that youhave to be a CPA like myself, or
financial expert, like you to doa good job with this you don't,
this is something you can learnalong with your kids. So don't
wait, you know, don't feel likeyou have to be perfect. You
know, even mistakes that you'vemade can be opportunities to
(05:59):
share those with your kids, andwhat you learn from them. So,
you know, when it comes torunning a busy household, and
you know, you're working and youfeel like I just don't have the
time to teach my kids, how am Igoing to fit this into our busy
lives, I say to to parents tolook for teachable moments. So
these are opportunities to builda money lesson into your day to
(06:20):
day lives. And they're like lowhanging fruit because they just
come up all the time. As youknow, we're constantly
interacting with money. We'realways transacting, and it's
just an opportunity to talk toyour kids about what you're
doing or how something works,and answer their questions.
Rather than setting aside aspecific time every week, you
know, these things will justcrop up. And then it's more
(06:41):
meaningful when it's happeningat a point where a decision is
being made or something that'srelevant in in all of your lies.
teach that lesson.
Preet Banerjee (06:52):
Yeah. And, you know, I think that's great.
Advice. And I think it'sreassuring for anyone who's
potentially you know, buyingthis book, either for themselves
or for friends that they thinkwould benefit from it. Wink,
wink, nudge, nudge holidayseason coming up. Great stocking
stuffer, idea. Yeah, and one ofthe things that we talked about
(07:15):
is these teachable moments. AndI know, having talked to people
in the field of financialliteracy, financial technology,
and specifically referring to aconversation I had with a friend
of mine, Dr. Abney, Shaw, who'sa specialist in the pain of
payment, one of the things thatwe had talked about was, you
(07:37):
know, the salience of the methodof payment, and how as we move
to a cashless society, cashactually becomes more abstract,
right. So it used to be peoplewere used to dealing with cash.
And as we move to a digitalworld, digital money becomes
more abstract. But now it'salmost the other way around for
kids who may not actually see alot of physical cash anymore,
(07:59):
especially during the pandemic,when a lot of businesses that
were not even accepting cash.
Everything is done online. Andso my question is, do piggy
banks still have the sameeffect? Or use cases that they
used to? Or is there some kindof, you know, digital form of
piggy bank strategy that yourecommend today?
Robin Taub (08:25):
Okay, so the answer to that, and it's a great
question. It's one of thereasons I updated the book,
because we are basically livingin a cashless society now, and
it was accelerated by thepandemic. So I'd say with young
kids, and let's say five toeight, a piggy bank is still a
great way to start, hopefully,parents, you still have some
cash lying around, or you canget some, because it's tangible.
(08:46):
Like you said, it's concrete.
It's not conceptual. So it'seasy to they're easy for them to
understand that you can, youknow, teach them how to make
change, you can play countinggames, you can show them the
cool images on Canadian money.
So And what I also recommend isusing a multi sided piggy bank,
which has a slot not just forsaving, but also for spending,
(09:11):
sharing, donating so it's gotfour slots, one for safe, one
for spent one for donate, andone for invest.
Preet Banerjee (09:19):
Oh, so you're this is an audio only podcast,
but you're holding.
Robin Taub (09:22):
I'm showing you but Yeah, too bad. Your viewers
can't see it yet. Yeah, but it
Preet Banerjee (09:26):
is a it is a pig with four different slots. And
it's clearly labeled save,spend, donate invest. So yeah,
where do people get Are thoseyours like?
Robin Taub (09:37):
Fish? That's like one of the top questions I get
is where can I get that piggybank? And the answer is, it's a
company called Money savvygeneration. And if you go to my
website, which is Robin tov.com.
I have a resources section andit's on there as a listed
resource because I just thinkit's like a perfect thing for a
young kid to start off with. Butgoing back to your question,
(09:57):
remember how we always talkedabout The jars system for adults
at one point, like put cash injars. And when you know, when
you're out of the money, youknow that you've hit your budget
for that category. And that washow people, well, that's just
not realistic anymore at all toyour point. So we do have this
challenge now that we're livingin a digital world and our kids
are on their phones all thetime, they're using, you know,
(10:18):
their phone, for paying forthings for social media for all
kinds of stuff. So why notharness that technology and have
it help us? That's how I'veapproached it. And I think, you
know, once a kid is preteen,maybe 1012, I think they are,
you know, once they have aphone, they are able to
understand these conceptualversions of money a little bit
(10:39):
better, like tapping with adebit or credit card or with
your phone. And as you know, allthe banks in Canada have these
all the mobile banking apps havefeatures built into them that
will that can really help youtrack your spending and control
your finances. So whether it'ssetting up alerts and
notifications, to let you knowthat you've spent money, again,
(11:02):
like you said, the pain ofhanding over cash to someone is
now gone. So how do you makethat? How do you replicate that?
How do you make that kind ofspending feel real again, so you
can set up notifications. If youwear a smartwatch, you can get
buzzed on your watch, to justremind you that you've spent
money, you can use the use theapp to help you track your
(11:22):
spending. And then you can usethe information you get from
tracking to help you setbudgets, you can check your
balance, it's just it's rightthere on your phone. So I feel
like even though it's harder insome ways, we also have so many
more tools just in our pockets.
Preet Banerjee (11:38):
That's a great point. And I think, you know, a
great business idea which no onewould invest in is instead of
having like a, you know, like avibrating alert is to one that
one that actually shocks youlike some kind of painful shock,
Robin Taub (11:53):
like low man very Pavlovian.
Preet Banerjee (11:56):
Yeah, I don't know if that would fly. But to
introduce the actual pain ofpayment,
Robin Taub (12:02):
instead of just that little vibration, you get like
on an Apple watch.
Preet Banerjee (12:05):
Oh, can you imagine tilting me maybe in the
metaverse one day, you know,every time you make a savings
contribution, is triggers somekind of dopaminergic response in
your reward system in yourbrain. And yeah, that would be
really cool. Yeah, yeah. Maybe abit too big brother ish. But
Robin Taub (12:22):
yeah, I mean, it is I don't think the banks are
gonna be too happy about, youknow, shocking their customers.
And sometimes, it is like, evennot literally shocking, but I'm
having some sticker shockmoments right now, when I see
the price of certain things, youknow, we could get into that
hold inflation or inflation orSri inflation discussion. But
anyway, there are also lots ofapps to that parents can use to
(12:48):
help teach their kids aboutmoney to help give, you know, to
pay their allowance, and thosekinds of things that are tied
back to some learning as well.
Preet Banerjee (12:55):
And all those you have that in your resources
section on your website? Yes,yes. Yeah, that's great. Yeah.
So if anyone's listening, youwant to learn about those
resources in apps, check outRobbins website. Okay, so let's,
let's take another step back andsort of give a general overview
of how the book is divided. Sothere's five chapters, and it is
(13:16):
a short read, it's not anintimidating read by any names,
and it is chock full ofstrategies and extra, like you
get right to it. So can youbreak down the flow of the book?
Sure.
Robin Taub (13:27):
So the first chapter, as I mentioned earlier,
is really for parents to helpyou get your own financial house
in order. So you can lead byexample, and be good financial
role model. And I talked about,you know, really the why behind
this, why is teaching kids aboutmoney, the wisest investment,
and, and I also, you know, touchon financial literacy in school,
(13:48):
because that has also reallyimproved a lot over the last 10
years. And I also get into these11, healthy habits of financial
management, that will helpparents, you know, get their
house in order, and that theycan also model as good financial
behavior and habits for theirkids. So things like paying
yourself first, and having afinancial safety net, which
(14:11):
would mean an emergency fund andappropriate insurance. And then
also, what I added in thisedition is having updated wills
and powers of attorney, becauseI think if the pandemic taught
us anything, it's like you gotto be prepared. So um, so that's
chapter one. And then I havejust four other chapters in the
(14:32):
book, there's only five andtotal as you say, it's under 200
pages. And each chapter is for aspecific age group. And I have
four age groups in the book,young kids, preteens, so nine to
12, teenagers 13 to 18 or so andthen young, young or emerging
adults 19 And up. And thenwithin each of the four
(14:54):
chapters, I structure of thechapter under these five pillars
of money which are very similarto the piggy bank. So earn first
you have to earn money beforeyou have any choices with money.
And then you can decide if youwant to save, spend, share, or
invest for the long term. Soeach chapter gets into specific
(15:18):
topics, examples, familydiscussions, activities, very,
very tactical stuff for each ofthose five pillars for that age
group. So it's you're alwayssharing age appropriate
information with your kids,because that's really important
that it's information that theycan absorb that's relevant to
(15:38):
their lives. So I really triedto, and I try to build on it.
You know, that's the idea is youstart when they're young, and
you build and you build, and bythe time they're emerging
adults, they have a really goodfoundation.
Preet Banerjee (15:50):
Now, I think one of the challenges is the
different sources ofinformation, the different
mediums where children can getaccess to information about
money, good advice, or badadvice. So, you know, for for
parents whose kids might bewatching, I don't know, crypto
bros on YouTube or Tik Tok, it'swhatever. Right? Yeah. And you
(16:13):
know, some of them are peddlingsome pretty strange messages.
There's some good information,but I think part of the
perspective possibly, for someof them is that the old, the old
people, they just don't get it.
Right, you know, money ischanged. And, you know, you
should be investing in Bitcoinor whatever. And, you know, I
know, some young kids weregetting exposed to this, and not
(16:37):
some of the other sort of morebasic stuff. Yeah. So what what
is your advice to parents to,you know, deal with this, the
these conflicting sources ofinformation that they may be
exposed to? And that's not justlimited to money, that's the,
you know, yeah, goes for anytopic,
Robin Taub (17:00):
for sure. But let's say, you know, when it comes to
money, if your kids are on ticktock, are are on YouTube, and
they are learning about money, Imean, I think just the fact that
they're interested is good, andyou want to encourage that,
right. But you have to take theinformation that you're learning
with a grain of salt, sometimesbased on who it's coming from.
(17:22):
So I think as parents, that'salways our job is we want to
make sure that our kids arelearning from, you know, valued,
trusted sources. And, you know,I mean, I think about my own
kids, and I know that they do,especially my son, I know, he
learns a lot on YouTube aboutmoney. He's older, though, but I
think with younger kids, youwant to have a conversation with
(17:44):
them. And maybe that is, youknow, the opening to talking
about money, because that'ssometimes a awkward or
uncomfortable thing for parentsto do. But if their kids are
following these influencers, andthey have these ideas, it is an
opening to have this discussionand maybe present the other side
of the the, maybe the lessglamorous, less cool, or less
(18:08):
exciting way about making money,which is kind of like that slow
and steady wins the race, youknow, patients and traditional
asset classes, but it's just acounter to some of the things
that they may they may be seeingjust like mean stocks and crypto
and stuff like that. So I thinkyeah, the book is a little more
I do talk about cryptocurrenciesand robo advisors, but it also
(18:30):
really gets into the veryfundamental things like stocks
and bonds when it comes toinvesting. And, you know,
overall money management.
Preet Banerjee (18:41):
Yeah, man, and not at an intimidating level, I
would say so, you know, I skimthrough the book, and, you know,
the, the topics on investing.
For some people, they say, okay,that's, that's where I check
out. And I'll say that it isreally presented and couched in
a way to say, well, you know,here's how you can learn about
it. Here's not, you know, 10hours of your of your life that
we're going to now dedicatelooking at P E multiples,
Robin Taub (19:06):
right? It's not technical that way. No, it's
really meant to be more of ahigh level introduction to like,
what is a stock? What is a bond?
How do we, you know, construct aportfolio in a really you know,
30,000 foot level right?
Preet Banerjee (19:22):
So you're not you're not telling parents
listen, you know, when it comesto your six year old and you
want to teach them aboutleveraged buyouts, here's how
you do it. It's not
Robin Taub (19:29):
Yeah, or Spax No, it's not about that. You know,
and even like a six year old orlike I talk about, you know, a
lemonade stand. And I actuallymy neighbors down the street,
we're doing like, I guess the2021 version of a lemonade stand
which is they were making theselike beautiful beaded bracelets,
and they were selling them andthey were donating half of their
(19:52):
profits to Sick Kids Hospital inToronto, so actually amazing
their picture on Instagrambecause they were like, so cool.
These girls are loved by 12. SoYou know, investing, you know,
that's a form of investing. It'sinvesting in a business and
stuff. So, yeah, age appropriateage appropriate. I always want
to make sure that the, you know,parents share age appropriate
information with their kids.
And, and that's, I mean, with myown kids now, like we actually
(20:14):
do talk a lot aboutcryptocurrency. And we talk
about means means talks, becausemy kids are in their mid to late
20s. And my daughter's even likedoing her CFA. So she's the
they're speaking a differentkind of language. Right? Yeah.
Preet Banerjee (20:28):
Well, you know, you mentioned those young girls
who started that wild with thebeat. Yeah, yeah. So I actually
wanted to ask you about, youknow, the ease of starting a
business online, like thebarrier to entry now is super
low. You don't even need capitalto start up a website and start
(20:48):
selling things. And I think I'veseen teenagers who are like,
like, drop shipping. From Chinathrough? Yes,
Robin Taub (20:57):
I know. It's, it's unbelievable how sophisticated
our kids are. So these, thesegirls have an Etsy shop. Yeah,
like, they're reallysophisticated. And it's very
impressive. Um, yeah. And Ialso, I think it was two weeks
ago, I was on this CP, Ontariodid a financial literacy
workshop for high schoolstudents. And, you know, the
kind of questions that they'reasking are very sophisticated.
(21:19):
And you're right, you can starta business, and E commerce kind
of business or an Amazonaffiliate kind of business
really easily nowadays. So Ithink understanding some really
basic stuff about business like,you know, buying low and selling
high and those kinds ofconcepts, I really do try to
teach, teach that stuff in thebook. I mean, and then like, you
know, you've just developed agreat investing course, if
(21:41):
people want more. There's somany great self paced, video
based courses that you can doonline, depending on, you know,
you want to do it yourself withwith ETFs, you want to get into
trading, do you want to get intooption strategies? Like there's
lots of great information outthere, especially yours?
Preet Banerjee (22:02):
Thank you, when it comes to failure? What is
your perspective on how muchfinancial failure children
should be allowed to experience?
So So for example, where I'mgoing with this is I kind of
thought that it would be reallygreat again, with the lower
barriers to entry of starting anonline business, to encourage
(22:23):
kids to start online businesses.
And if it takes off great, andif it fails, that might be even
better, because I feel likeyeah, the greatest teacher sins
is failure.
Robin Taub (22:37):
Yeah. Fail fast. You know, isn't that like a Silicon
Valley thing? Yeah.
Preet Banerjee (22:43):
Fail fast and pivot? Yeah.
Robin Taub (22:45):
So first of all, I mean, as a parent, it is hard to
watch your kids fail, it's hardto watch them struggle. And I
think our natural instincts asparents to protect them kick in,
and we want to bail them out.
But when it comes to money, thatis not the best thing. Because
that you want them to makemistakes, when the stakes are
low, when there's not a lot ofmoney involved when the mistakes
(23:06):
are not going to be expensive,because they will learn if they
waste money on a toy that theynever end up using. Or they pay
full price for a video game thatthey could have waited a month
and bought used. They'll they'lllearn something from that and
take it away for the nextdecision that they make. Whereas
if we're always stepping in andgiving them more money and
bailing them out, then they'lljust think I don't have to worry
(23:28):
about this. There's always goingto be more money where that came
from, you know, I don't need tobe careful. Money's not a finite
resource. And we all know thatthat's not true. So
Preet Banerjee (23:40):
great. P QE, parental quantitative easing.
Robin Taub (23:46):
I love that. Yeah, exactly. Like taper off. Stop
bailing them out. You know,everyone learns from their
mistakes me, me included. I'msure you're the same. So oh,
Preet Banerjee (24:00):
I have made some offers. And those are those the
those are the situations where Ilearned absolutely the most saw,
I agree with you 100%. I thinkit is critical to allow a
certain level of failure. And Ithink it pays off in the end.
But yeah,
Robin Taub (24:18):
it's part of them becoming independent. It's not
an easy transition. But it youknow, it's not just with money,
you sort of have to some pointfigure, you've done your job.
And that's why I like talking alot about values Preet. And that
was sort of one of the otherstrategies in the book is being
really clear and understandingwhat your values are what's most
(24:38):
important to you because theycan act as an invisible
framework to hide to help guideand prioritize financial
decisions and other decisions inlife because at some point,
you're going to have to sort ofstep back and let your kids make
their own decisions throughouttheir lives, including money and
it's just not great to be ahelicopter parent. on many, many
(25:01):
levels,
Preet Banerjee (25:02):
I'll have to take your word for it because I
don't have kids. So I rely onexperts like you, to inform us
about how to teach kids aboutmoney. Now, I have one last
question for you. Where's mylist here? Yes. You mentioned in
your book. You mentioned in yourbook that your best investments,
(25:25):
were your two kids. Yeah. I wantto ask you, if you could do
anything differently whenteaching kids about money, if
you could turn back the clock,are there any things that you
would have done differently?
Robin Taub (25:38):
Hmm, well, I have to admit, I did not pay a regular
allowance. We were typicalparents, we would forget some
times we would not have money onus. So I think if I could have
automated that, or systematizedit better, so that my kids did
have more of a regularopportunity to manage money,
(25:58):
because that's really why Ithink allowance is great. It
does get
Preet Banerjee (26:01):
couldn't tell them that you're simulating
unemployment or something byjust having that play. Stop.
Robin Taub (26:07):
Yeah, so um, you know, that would be one thing.
But, you know, generally, I feellike it's gone pretty well. I
mean, I guess another thing. Somy kids, when they, they each
had a Bar Mitzvah were Jewish,and they got money that's
traditional that you get somemoney. And I basically just
invested it on their behalf in acouch potato portfolio of index
(26:32):
funds. And, you know, it was aninterest account at a discount
brokerage, I wish I had gottenthem a little more involved in
that at the time, they wouldhave been 13. So a little young,
but it wasn't really until theywere, they were 18. And they
could open a TFSA. And we couldtransfer it over that I really
started getting them involved inwhat I had invested in. And I
(26:54):
mean, it wasn't like I made abig mistake or anything, but I
think I should have discussedmore with them, and seen what
they what they wanted to investin, as opposed to me just trying
to do something simple and lowcost that would grow and then
knowing they would take it overone day. So rude.
Preet Banerjee (27:11):
Yeah, alright, I'm going to leave it there,
because they don't want to giveaway the entirety of the book, I
want people to buy the book. Sothey have a reason to do so. And
also to suggest it as a greatstocking stuffer for people
around you who may benefit fromthe book. Now, Robin, as you
know, the last minute, twominutes of the every episode is
(27:34):
open floor for you to give a abrazen commercial, so feel free.
Robin Taub (27:40):
Alrighty, I'm ready.
So if you're looking for thebook, please go to the wisest
investment.com. That's thewebsite is just the books name,
the wisest investment calm. Andyou'll see links there to Amazon
for the physical book and theKindle version. And there's also
a free financial role model selfassessment, if you sign up. So
(28:01):
we were talking about theimportance of being a good role
model and walking the talk foryour kids. So you can get that
for free there. If you'reinterested in doing the values
validator, then check out myother website, which is Robin
hood.com. That's the one withthe resources. So that's a free
values validator. And thenactually I want to mention that
(28:22):
we are doing a promotion onbooks right now. So if people
order directly from us books atRobin tov.com until December 17,
free shipping, signed copy, andwe are going to donate we're
going to match. So for everybook that's ordered through us,
we're going to make a donationto a charity that supports youth
(28:44):
financial literacy. Oh, so onewas done for one book. Yeah. So
do
Preet Banerjee (28:50):
you want to mention mention how people can
take advantage of that offer?
Robin Taub (28:54):
Yeah, just email books at Robin tov.com the
number of copies and the addressand we will invoice you.
Preet Banerjee (29:02):
Okay, now include that on the show notes
as well. If people are listeningin, that'd be great. Quickly
look on your phone, tap the linkto do that. Robin, thank you.
That's been fantastic. And myvery last question before I let
you go is what is the last DRAMthat either you or your husband
have enjoyed?
Robin Taub (29:20):
He has been into these Japanese whiskies lately
so I think it's he picky and Iagain I don't always know
exactly, it's just like a goodone in my life to have some of
this. So I have differenttastes. I sort of like the more
mild or sherry cask typewhiskies he likes to smokey PD
(29:41):
ones, and my son does too. So Ithink it was probably one of his
good Hibiki ones. And I also wealso kind of got into bourbon.
No, yeah. So do you like it or
Preet Banerjee (29:53):
are you have a few bottles? It's it is a nice
change. Yeah, sure.
Robin Taub (29:59):
Right. Have you do you know pappy Van Winkle? Have
you heard? Ah,
Preet Banerjee (30:03):
yes, I do. I have had that a few times in the
US and only yet at bars but heYeah, he looked at a bottle to
my collection.
Robin Taub (30:13):
He had a client in Louisville and he brought some
back so Okay, in order tomaintain my status is your
favorite task? Yes. I'll have toget you some pappy Van Winkle.
Preet Banerjee (30:24):
Yeah, that's right. You will. I know. Okay.
That's not you don't have to butI love it. All right. All right.
Robin, thank you so much for
Robin Taub (30:33):
having me. It's always so much fun and I
appreciate it. Thanks. Pretty.
Popular Podcasts
Dateline NBC
Current and classic episodes, featuring compelling true-crime mysteries, powerful documentaries and in-depth investigations. Follow now to get the latest episodes of Dateline NBC completely free, or subscribe to Dateline Premium for ad-free listening and exclusive bonus content: DatelinePremium.com
24/7 News: The Latest
The latest news in 4 minutes updated every hour, every day.
Therapy Gecko
An unlicensed lizard psychologist travels the universe talking to strangers about absolutely nothing. TO CALL THE GECKO: follow me on https://www.twitch.tv/lyleforever to get a notification for when I am taking calls. I am usually live Mondays, Wednesdays, and Fridays but lately a lot of other times too. I am a gecko.