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Collin Plume

๐Ÿ‘ค Speaker
756 total appearances

Appearances Over Time

Podcast Appearances

Chief Change Officer
#205 Collin Plume: From Kid Collector to Gold Guru โ€“ Part Two

I think the most important thing, Vince, is when you're raising children is having a what my wife and I call is a united front in that we have the same. I think the most important thing as a person today, when you pick a partner, is you have to align on financial values and goals. So much of what happens to relationships is because people are not aligned on those things.

Chief Change Officer
#205 Collin Plume: From Kid Collector to Gold Guru โ€“ Part Two

I think the most important thing, Vince, is when you're raising children is having a what my wife and I call is a united front in that we have the same. I think the most important thing as a person today, when you pick a partner, is you have to align on financial values and goals. So much of what happens to relationships is because people are not aligned on those things.

Chief Change Officer
#205 Collin Plume: From Kid Collector to Gold Guru โ€“ Part Two

My wife and I had, and I think our values are so similar, even when we first met, is because both of our families lost the majority of our wealth and had to start over. So we both have this fear that, in us of what can happen when you're not diversified. Both of our families were not diversified. That has led us to where we are and what we have built and what we teach our children.

Chief Change Officer
#205 Collin Plume: From Kid Collector to Gold Guru โ€“ Part Two

My wife and I had, and I think our values are so similar, even when we first met, is because both of our families lost the majority of our wealth and had to start over. So we both have this fear that, in us of what can happen when you're not diversified. Both of our families were not diversified. That has led us to where we are and what we have built and what we teach our children.

Chief Change Officer
#205 Collin Plume: From Kid Collector to Gold Guru โ€“ Part Two

And correct, I have gold and silver set aside for each of my children Obviously the same amount because everything has to be equal. For anyone that has children, they know that this is the most important thing. I talk to them all the time about money and what things cost. And I talked to my oldest son recently about the mortgage. I explained to him what a mortgage is.

Chief Change Officer
#205 Collin Plume: From Kid Collector to Gold Guru โ€“ Part Two

And correct, I have gold and silver set aside for each of my children Obviously the same amount because everything has to be equal. For anyone that has children, they know that this is the most important thing. I talk to them all the time about money and what things cost. And I talked to my oldest son recently about the mortgage. I explained to him what a mortgage is.

Chief Change Officer
#205 Collin Plume: From Kid Collector to Gold Guru โ€“ Part Two

He had some very interesting questions about... how it works and why. And I didn't get into the specifics of what the dollar amount is because it's not important. I want him to understand at an early age, he's eight years old, the twins are going to be six. I want them to understand the cost of things. And we talk to them every day about it.

Chief Change Officer
#205 Collin Plume: From Kid Collector to Gold Guru โ€“ Part Two

He had some very interesting questions about... how it works and why. And I didn't get into the specifics of what the dollar amount is because it's not important. I want him to understand at an early age, he's eight years old, the twins are going to be six. I want them to understand the cost of things. And we talk to them every day about it.

Chief Change Officer
#205 Collin Plume: From Kid Collector to Gold Guru โ€“ Part Two

Whether we give them a toy and when the toy breaks, we've had some very... serious conversations about them being reckless with money. And I think that the mistake people make is they think that kids today don't know or they don't understand. And they do know and they do see the way that you're treating money.

Chief Change Officer
#205 Collin Plume: From Kid Collector to Gold Guru โ€“ Part Two

Whether we give them a toy and when the toy breaks, we've had some very... serious conversations about them being reckless with money. And I think that the mistake people make is they think that kids today don't know or they don't understand. And they do know and they do see the way that you're treating money.

Chief Change Officer
#205 Collin Plume: From Kid Collector to Gold Guru โ€“ Part Two

And if you go to Disneyland and you are buying them everything at Disneyland and you're being frivolous, and I'm just using Disneyland as an example because it's such an overpriced place. And it's such a capitalistic suck. The average two or three days at Disneyland, you can spend two, $3,000 in a second.

Chief Change Officer
#205 Collin Plume: From Kid Collector to Gold Guru โ€“ Part Two

And if you go to Disneyland and you are buying them everything at Disneyland and you're being frivolous, and I'm just using Disneyland as an example because it's such an overpriced place. And it's such a capitalistic suck. The average two or three days at Disneyland, you can spend two, $3,000 in a second.

Chief Change Officer
#205 Collin Plume: From Kid Collector to Gold Guru โ€“ Part Two

And I want them to understand that these things come from the idea that you have to understand what things cost and you have to be careful. And it's important for me to do that. And I do it with my employees to a certain extent too. We have a Slack channel and I put ideas in there for them of ways that they can cut costs or save money.

Chief Change Officer
#205 Collin Plume: From Kid Collector to Gold Guru โ€“ Part Two

And I want them to understand that these things come from the idea that you have to understand what things cost and you have to be careful. And it's important for me to do that. And I do it with my employees to a certain extent too. We have a Slack channel and I put ideas in there for them of ways that they can cut costs or save money.

Chief Change Officer
#205 Collin Plume: From Kid Collector to Gold Guru โ€“ Part Two

And I understand that they need help also understanding these things because the system that we've created in the US, this capitalistic system is great and it has created this incredible economy. But in my opinion, in a lot of ways, we've gone too far. People that make $30,000 a year are buying a $1,000 phone. It doesn't make any sense. And a lot of times they're borrowing the money to get it.

Chief Change Officer
#205 Collin Plume: From Kid Collector to Gold Guru โ€“ Part Two

And I understand that they need help also understanding these things because the system that we've created in the US, this capitalistic system is great and it has created this incredible economy. But in my opinion, in a lot of ways, we've gone too far. People that make $30,000 a year are buying a $1,000 phone. It doesn't make any sense. And a lot of times they're borrowing the money to get it.

Chief Change Officer
#205 Collin Plume: From Kid Collector to Gold Guru โ€“ Part Two

And that's because they feel like they have to. In today's world, they have to have it. If you go back 30, 40 years ago, if someone was making $8,000 a year, they wouldn't buy a $400 phone or a $300 phone. The math doesn't make sense, but in today's world, We've become accustomed to buying these things that we feel we have to have.

Chief Change Officer
#205 Collin Plume: From Kid Collector to Gold Guru โ€“ Part Two

And that's because they feel like they have to. In today's world, they have to have it. If you go back 30, 40 years ago, if someone was making $8,000 a year, they wouldn't buy a $400 phone or a $300 phone. The math doesn't make sense, but in today's world, We've become accustomed to buying these things that we feel we have to have.

Chief Change Officer
#205 Collin Plume: From Kid Collector to Gold Guru โ€“ Part Two

And so my training for my children is that not everything is necessary, that you don't need these things. And the things that we value, the things that we do spend money on, is travel and experience. I think the number one thing I can give to them is seeing how different parts of the world live and how different people live. And so that's the one thing that we're willing to spend money on.

Chief Change Officer
#205 Collin Plume: From Kid Collector to Gold Guru โ€“ Part Two

And so my training for my children is that not everything is necessary, that you don't need these things. And the things that we value, the things that we do spend money on, is travel and experience. I think the number one thing I can give to them is seeing how different parts of the world live and how different people live. And so that's the one thing that we're willing to spend money on.