Muscle for Life with Mike Matthews Ep.#1163: Scott Donnell on Raising Confident and Independent Children
Aug 21, 2024
Scott Donnell, a serial entrepreneur and family financial education expert, shares his insights on raising confident and independent children. He discusses engaging ways to make learning fun, stressing the importance of instilling values over mere inheritance. Scott introduces the concept of a 'home economy' to foster financial independence and outlines the '3 E's' for teaching life skills. He emphasizes the role of healthy struggles in building resilience, encouraging parents to support their children's growth through real-world challenges.
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Apex Fun Runs
- Scott Donnell's first company, Apex, became the largest fun run company for schools in America.
- It taught fitness, leadership, and character traits while raising almost a billion dollars.
Heritage Over Inheritance
- Generational wealth often disappears by the third generation due to poor financial literacy and life skills.
- Focus on instilling a strong "heritage" of values and mindsets instead of just passing on an "inheritance."
Value Creation Mindset
- Teach children value creation before focusing on money.
- Emphasize material, emotional, and spiritual value, encouraging them to become "value hunters."