Today’s guest is Anne-Lyse Wealth. We chat about money lessons she learned from her parents and how reaching Coast FIRE allowed her to take more risks. We discuss what generational wealth is and why it is much more than monetary assets. We chat about why financial education is critical to ensuring monetary wealth is not lost by future generations, and examples of how parents should be teaching their kids. We talk about ways parents can build generational wealth and steps on how to pass it along including having an estate plan. We talk about the benefits of passing down assets to your children while you are still alive and when the best time might be.
- Click above or listen to the episode on your favourite podcast platform here (Apple Podcast, Spotify, Google Podcasts, Stitcher, Podchaser, Overcast, Castbox, etc)
Today’s Guest
Anne-Lyse Wealth
Anne-Lyse is a Writer, Personal Finance Educator and Certified Public Accountant. She is the founder of Plutus Awards nominated Dreamoflegacy.com, a platform dedicated to inspiring millenials to build wealth with purpose and the ALW Communications Agency.
Anne-Lyse is the author of the book “Dream of Legacy: Raising Strong and Financially Secure Black Kids” and the host of The Dreamers Podcast. Her work and advice have been featured in media outlets such as Business Insider, Harvard Business Review’s Ascend, NextAdvisor, Time, and Black Enterprise to name a few. Anne-Lyse lives in Atlanta and is also a mom to 3 daughters.
- Follow @annelysewealth on Instagram and Twitter
- Subscribe to the Dreamer’s Podcast on Apple podcasts | YouTube
- Dream of Legacy | Website | Purchase the book [Amazon Affiliate Link]
You’ll Learn:
- The money lessons Anne-Lyse learned from her parents about saving, investing and living below your means and how Anne-Lyse built her money habits
- What she is doing differently with her own kids by talking about money openly
- What Coast FIRE is and how reaching Coast FIRE allowed her to take more risks and a balanced and happier life by pivoting out of her prior public accounting career
- What inspired Anne-Lyse to get into the space of financial literacy as an educator and how she wants to help parents learn about personal finance as well as teach it to their kids
- What is generational wealth and why it is much more than monetary assets
- Why financial education is critical to ensuring monetary wealth is not lost by future generations
- How parents should be providing that financial education to their kids including teaching delayed gratification, wants vs needs, minimizing debt and investing with an owner mindset rather than a consumer mindset
- Why it is important to spend money on things that you value
- What are some ways parents can build generational wealth including investing in real estate, stock market or businesses as well as
- What steps can parents take to pass along generational wealth to their kids
- Why it is so important to have an estate plan, including having a will and life insurance and medical directives
- When and if parents should be having conversations about their will and their last wishes with their children
- The benefits of passing down assets to your children while you are still alive vs waiting until you have passed away
- When the best time to pass down an inheritance is
- The importance of teaching kids about gratitude and daily gratitude practices that parents can use to reinforce the gratitude mindset
- How we can build multiple streams of income and why it is so important to providing financial freedom
Resources
- Die with Zero: Getting all you can from your money and your lifeby Bill Perkins [Amazon Affiliate link]
- Follow and tag moneydadpodcast on Instagram to comment on topics and ideas discussed during the episode that resonated with you or share with a friend
Thanks for listening!
Have some feedback you’d like to share? Leave a note in the comment section below!
If you enjoyed the episode, please share it on Instagram.
Like this show? Please leave a review on Apple or Podchaser – even one sentence helps! Ratings and reviews are extremely helpful and greatly appreciated! They do matter in the rankings of the show, and I read each one of them. Post a screenshot of you listening in Instagram and tag me so I can thank you personally!
Don’t forget to subscribe to the show to get automatic updates. I’ll be dropping a new episode every TUESDAY!
Thanks to Anne-Lyse for joining me this week!
In case you missed it, make sure to catch up on last week’s episode “Episode 009: Rewrite your Money Story and kid-friendly Money Talks with Eileen Joy”!
Leave a Reply