Today we are tackling the vitally important subject of financial literacy from the standpoint of parents wanting to educate their children. We have a true expert on the show today to help us with this discussion, and we cannot wait to share this highly actionable and impactful conversation with our audience. Robin Taub is a former CPA turned author, and her book, The Wisest Investment, approaches the need to educate children from an early age, and the best strategies that parents can use for this task. Robin previously worked at Citibank in derivatives marketing and brings the high-level expertise of accounting to her book and this episode of the podcast. We strongly support her perspective on financial education and believe the framework she discusses here and shares in her book is well worth any parent's time. In our conversation, we cover all the important bases; financial values, summer jobs, investment apps, human capital, and everything in between, so make sure to listen with us to hear it all. Key Points From This Episode: Unpacking Robin's beliefs about the importance of financial education in the family. [0:02:55.2] Financial education in the Canadian schooling system; Robin weighs in on its success. [0:04:08.6] The assessment that parents can make about being role models to their children. [0:06:53.1] The communication of values through the process of teaching and learning. [0:09:01.8] Ideas for the appropriate time to start teaching kids about money. [0:11:40.5] Using teachable moments to begin the conversation about money. [0:14:35.3] Thoughts about allowances and best practices for parents. [0:18:09.7] The evolution of money conversations as children grow older; increasing sophistication over the years. [0:23:46.9] Benefits and considerations when introducing the concept of working for money. [0:27:30.3] How social media can impact young people's spending, and how to mitigate these effects. [0:31:26.2] Robin weighs in on the question of cellphones and when children should get one. [0:38:42.6] Increasing financial responsibilities as children grow older, and beginning the conversation about investments. [0:40:37.3] The impact of investment apps and how to minimize the damage they can do. [0:45:21.1] Teaching children about philanthropy and the importance of sharing. [0:47:04.6] Weighing up the idea of getting a financial advisor involved in your child's life. [0:49:27.3] The concept of human capital and how to approach it in your family. [0:50:51.1] Robin's thoughts on conversations about entrepreneurship. [0:54:48.6] Breaking the cycle of financial problems in a household that is struggling. [0:57:54.3] Minimizing entitlement in a family of greater financial means. [0:59:42.8] Reasons for the shift that Robin made from her career as a CPA to becoming an author. [1:03:30.1] Robin's personal definition of success; finding satisfaction in the important areas of life. [1:05:20.5]

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