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Navigating Family Finances
This chapter explores personalized financial planning for families, highlighting innovative products like Acorns and Plenty. The speaker reflects on parenting mistakes and emphasizes the need for intentional charitable giving, fostering meaningful discussions about financial goals within the family.
Adam Nash is a long-time Silicon Valley executive, investor and advisor. He was the President and CEO of Wealthfront, a Product executive at Dropbox and LinkedIn, and teaches a course on personal finance for engineers at Stanford. He is currently the co-founder and CEO of Daffy, the donor-advised fund for you and a champion of charitable giving. In addition to his long and successful career he’s also a husband and the father of four kids! In our conversation today we discussed:
* How to raise financially literate kids
* How to think about the question of “am I financially ready for children” and is that the right question
* How to teach your kids about charitable giving and philanthropy
* The challenges of starting a company as a parent
* The concept of “super powers” at work and at home
* How to talk about money with your wife and kids
* How to do financial planning in your household
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Where to find Adam Nash
* Linkedin: https://www.linkedin.com/in/adamnash/
* X: https://x.com/adamnash
Where to find Adam Fishman
* FishmanAF Newsletter: www.FishmanAFNewsletter.com
* LinkedIn: https://www.linkedin.com/in/adamjfishman/
* Instagram: https://www.instagram.com/startupdadpod/
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In this episode, we cover:
[1:41] Welcome
[2:47] How did you develop your passion for finance?
[5:31] When are you financially ready for children?
[12:05] Was financial literacy part of childhood?
[14:55] Kids ages and background
[15:25] Decision to start a family
[18:26] Guardrails
[23:35] Conversation with partner about startup
[27:12] Concept of superpowers
[31:56] Advice to younger Adam
[35:49] Advice to ignore
[38:53] How do you build financially literate children?
[44:09] What is a DAF?
[51:18] Your family’s philanthropy & impact
[53:51] Financial review
[57:27] Financial apps
[58:48] Mistake as a dad
[1:03:57] Rapid fire
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Show references:
Daffy: https://www.daffy.org/
Wealthfront: https://www.wealthfront.com/
Dropbox: https://www.dropbox.com/home
LinkedIn: https://www.linkedin.com/feed/
Stanford: https://www.stanford.edu/
Quicken: https://www.quicken.com/
Steve Jobs: https://www.britannica.com/money/Steve-Jobs
DonorsChoose: https://www.donorschoose.org/
Greenlight: https://greenlight.com/
Monterey Bay Aquarium: https://www.montereybayaquarium.org/
Acorns: https://www.acorns.com/
Plenty: https://www.withplenty.com/
Apple watch: https://www.apple.com/watch/
Jewish Community Center: https://jcca.org/
Cars: https://www.imdb.com/title/tt0317219/
Animal House: https://www.imdb.com/title/tt0077975/
Back To School: https://www.imdb.com/title/tt0090685/
Real Genius: https://www.imdb.com/title/tt0089886/
Star Wars: https://www.starwars.com/films
Back To The Future: https://www.imdb.com/title/tt0088763/
Toyota Sienna: https://www.toyota.com/sienna/
Honda Odyssey: https://automobiles.honda.com/odyssey
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For sponsorship inquiries email: podcast@fishmana.com.
For Startup Dad Merch: www.startupdadshop.com
Production support for Startup Dad is provided by Tommy Harron at http://www.armaziproductions.com/
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Listen to the best highlights from the podcasts you love and dive into the full episode