The Impact of Materialistic Wealth on Kids and Parenting

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Kids' definition of success is influenced by materialistic wealthy influencers on social media and YouTube, leading to inflated aspirations. The abundance of toys and gadgets does not satisfy children because they compare themselves to others online. Spoiling kids by fulfilling their desires can quickly lead to entitlement and social ruin. Giving children less money and fewer toys, making them work for it, is the only way to prevent spoiling them. Billionaire families struggle with raising ambitious kids because they cannot give them the experience of growing up poor and the need to work hard.

Everybody wants to get rich. But is the pursuit of wealth really about the money, or are we actually chasing something much deeper?

These are just a couple of the fun ideas I toss around in this episode with Morgan Housel, New York Times Bestselling author of the smash hit, The Psychology of Money, which has sold more than four million copies worldwide.

We’ll dig deep to uncover our relationship with money, answer the timeless question “Will getting rich make me happy?” and share some of Morgan’s best investing tips.

So put away your spreadsheets, step away from the credit card, and for god’s sake stop trading crypto for five seconds, and settle in for this one. We might just make you filthy fucking rich.