Are you struggling to raise financially savvy kids in a world of instant gratification and digital distractions?
Scott Donnell, a renowned expert in family legacy and financial literacy, joins the Wealthy Wellthy podcast to share his insights on combating the four major forces threatening modern families. As the founder of Fig and Eagle, Scott has helped millions of families build stronger connections and instill crucial life skills in their children.
In this eye-opening episode, Scott reveals the strategies used by the world's most successful families to create lasting legacies. He discusses the importance of delayed gratification, building courage in children, and fostering a healthy relationship with money. Scott also emphasizes the critical role of storytelling in passing down family values and creating a strong sense of identity.
Listeners will gain practical advice on implementing family meetings, teaching money skills, and navigating the challenges of parenting in the age of AI. Scott also touches on the concept of "heritage, not inheritance" and explains why it's never too late to start building a strong family legacy.
Ready to transform your family's relationship with money and create a lasting legacy? Tune in to this episode of Wealthy Wellthy podcast with Krisstina Wise and discover the secrets to raising resilient, financially savvy children in today's rapidly changing world.
6:41 The importance of family legacy
18:46 Dopamine distortion and screen addiction
26:36 Instant gratification and its effects
46:21 AI revolution and information overload
1:04:33 Doing more with kids, not for them
"Delay gratification is one of the greatest things you could ever have for a strong marriage, a strong family, and lasting relationships."
"Money is the trauma that you actually wake up and work for the rest of your life. Every other trauma you're trying to heal from or forget, but you gotta wake up and make money."
"Money's not good, it's not bad. Money's a tool. It's a store of value. So the more value you can create and solve problems, the more you earn usually."
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Website - https://wealthywellthy.life/
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Delay gratification is one of the greatest things you could ever have for a strong marriage, for a strong family, for lasting relationships. But if you have an instant gratification mindset, you just cast people aside. This is why we have like a delay and delay and delay in people making committed long term relationships. People think that all the technology and advances help people. More people become entrepreneurs. Foreign.
Krisstina Wise:Welcome back to the Wealthy Wealthy Podcast where we explore the intersection of wealth, health and entrepreneurship. I'm your host, Christina Wise and today's episode lands in the realm of wealth. I'm joined by Scott Donnell, a founder, educator and passionate advocate for family legacy and financial literacy. With multiple companies and over 10 million customers served, Scott has made it his mission to help families grow stronger by passing down wisdom, not just wealth. Together we explore the four forces disrupting families and businesses today. Dopamine distortion, instant gratification, anti family cultural norms, and the AI revolution. Scott breaks down how these forces are quietly eroding connection and what we can do to fight back. We unpack the role of courage, core values and capability in parenting, why teaching kids about money matters, and how to instill principles that outlast the latest trend or cultural wave. If you're a parent, a legacy builder, or someone rethinking how to create meaningful wealth that lasts, you'll love this episode. And if you'd like to go deeper into conversations like this live in person, join me this September in Park City at Wealthy Wealthy Live. It's three transformational days focused on real estate, longevity and financial freedom. With a room full of friends doing big things, you can get all the details@christina.com forward/live. That's a K and two S's. Here's my conversation with SK Scott Donnell. Scott, welcome to the Wealthy Wealthy podcast.
Scott Donnell:Good to be here. I'm excited for this. It's gonna be fun.
Krisstina Wise:Yeah, me too. We pushed it a couple times so I was super excited that we finally get to sit down and chat publicly and we're gonna get into who you are in your mission and just what makes you such a needed and special entrepreneur with a big mission to help families and kids. Before that share some story like who is Scott Donnell? Give some backstory. Even starting as a kid, I want to know who you are. That is the person behind all the success and changing so many people's lives.
Scott Donnell:Well, I am a dyslexic, left handed, chubby kid that was the last to hit puberty and almost flunked preschool, kindergarten and first grade and second grade. The only reason why they passed me is because I have a twin sister named Stacy who is a genius. And they're like, we can't let her pass and him not. So I skated by. And then in third grade, I beat my teacher in chess. And he was the chess coach. It was the first time I ever played. And they were like, oh, he just thinks differently. His brain works differently. And like a month later, I started my first business as a third grader selling keychain bead gecko keychains and like making bracelets and stuff and then selling them door to door for a couple bucks. And then I hired all my classmates and paid them a quarter to make them. And then after a few weeks, they weren't going out to recess or lunch, they were just making my keychains because they loved it. And then the principal found out and then suspended me. Yeah, my supply line got cut. Well, I go home, I thought I was going to get a whooping. And my dad, instead of punishing me, he takes me out to steak dinner and he's just like, do that for the rest of your life. And I'd like to say I came from like some terrible life, Family hardship, blah, blah, blah. That's not true. I grew up in a great family. That's why I believe in family legacy. That's why, you know, I study for a living, the best families in the world, because I want to have our family be one of the best families in the world, raise our kids in amazing ways and grandkids and great grandkids. So yeah, that's where I grew up, with an amazing family. I come from, I'm fourth generation entrepreneurs who built up mega businesses, 100 million billion dollar businesses, and then exited them and gave them to widows and orphans in charity. So I couldn't be more thankful. I don't want that. I don't want a lottery ticket syndrome. You know, when I was growing up, my dad and my grandpa, they built Interwest bank, which became the number one small business bank in America up in Washington state. My grandpa became Ronald Reagan's head of the U.S. bank board. Just like crazy stories. And they sold to Wells Fargo in 2001 for $1.2 billion. And they put the whole thing, except for a couple million bucks, in a charitable trust for ministries and things all over the world. And they basically were like, look, if you get this, it'll ruin you. We want to teach you to fish and how to replicate what we did. And so that's kind of how we all are. My cousins are the Same way, like we're just building up. They paid for half of college. I couldn't be more thankful for that. And I would not be who I am today if I would have had millions and countless millions of dollars of inheritance used and blown and. Yeah, so your kids need heritage, not inheritance. It's more about what you leave in them than to them. So that's one of our 12 strategies that we talk to families about and We've studied the 100 families for the last 10 years and we found a lot of consistencies between the best families in the world that almost nobody else does those things. So yeah, there you go. There's my background. Eight companies later and 10 million customers, here we are.
Krisstina Wise:Here we are. So this really focus on families and as an entrepreneur is, you know, I just think it's so needed and you know, where I sit in my life today, if I have any regrets, my regret is that, well, I started from a broken family from a very young age and kind of different story. Did not have a good kind of parental upbringing or examples and really repeated the patterns of my parents probably for too long, but without any childhood experience of a family.
Scott Donnell:Yeah.
Krisstina Wise:So, you know, without that type of experience, I really didn't even know what a family was or the importance of a family and just kind of learn survival skills.
Scott Donnell:So.
Krisstina Wise:So then I reached adulthood and didn't appreciate that. Probably for sure. Didn't ever even think about it. And so again, I sit here that if I could do a do over, the one do, if I got a chance to do one do over in life, my do over would be to focus on family from the very beginning and keep my family intact and, and do the things and because I now see like at this stage of life, like, wow, like I almost have an envy, like a view that has a beautiful family and kept it together and working together and creating legacy and the kids don't have to choose which parent to go to over Christmas and the grandkids don't have to write like it's just so much bigger. Not to mention the financial and all these different things. So there we have it. Let's.
Scott Donnell:Well, hold on, we're going to talk about that for a second. Yeah.
Krisstina Wise:Okay.
Scott Donnell:The number one question. So I speak all over the world, right? Like our content had about 200 million views last year. The number one question I used to get starting out was to help me teach my kids money. Right. I'm the leading, you know, world expert in financial literacy and talk about the money skills. Talk about, you Know, creating value, all that kind of stuff. The number one question I've been getting for the last several years is it's too late for me. Where were you 10 years ago? Where were you 30 years ago? Our kids are grown and gone. We didn't. I never learned any of this stuff. It's too late. That is so far from true. In fact, it's interesting. These hundred families we've been trying to find. And I'll explain what a hundred families means. It's not the richest families, everyone thinks when we say we've been trying to find the best hundred families to study. It's not the wealthiest billionaire families. Yeah, there's some billionaires. But what our metric is each generation blowing by the previous generation in relationships and mindsets and skill sets and family values and beliefs and connection with the family. Like, if you just get better every generation, you have what I call legacy, right? And nobody focuses on that stuff. But that stuff's so critical. I think that is true legacy. But here's the thing. These hundred families, every family has wild and crazy and health things and estrange problems and, you know, debates and different value. Like it happens in every single family. And some people kind of go rogue and the prodigal kid things happen. And there's just wild things that happen in every single family. You're not. You can't get out of it. But what we've studied is these things are not setbacks for these families. They're setups. So this is one of the greatest things I've seen from these families is like, when something bad or tough or difficult happens, a financial problem, for instance, right? Or somebody has an addiction issue or a struggle, whatever it would be, because no one's immune. What these families do is they use them as setups, not setbacks. Like, how are we going to grow and learn and connect deeper and use this for creating value in the future? And so what I tell people is like, I just had a family where I was just coaching a family. They're in their 60s and they just started implementing these strategies. And in six months later, they're like, world of difference. So it's never too late. It literally is never too late. Like, it doesn't matter if there's divorce or estrangement or sickness or bankruptcy. It does not matter. Like, these strategies stand the test of time. And all that stuff just becomes. It's almost like you're pulling back a slingshot with the pain and the struggles and you never knew. And that these things are like, just bitterly tough. And then all of a sudden you learn this stuff. It's like letting go of the slingshot and then you just catapult your legacy forward. So anyway, I just feel like I wanted to say that because these things aren't really setbacks. Just because you didn't learn them early doesn't mean it's over for you. Right. What it means is once you get some of the mindsets, you'll just start to see over time these things compound and family dynamics change and people connect way deeper. So just want to encourage you because, you know, we have a lot of families recently. They're like, my kids are 18, I'm finally an empty nester. They're all out of the house. I'm like, yeah, that's when it starts, buddy. All you're doing is building the foundation for the first 18 for the rest of their life. Now you're building the house together. Right. Your job starts at 18 in a lot of ways, but most people think that it ends at 18 and we can go be snowbirds and retire and. Nope, like, family goes until you're dead. Like we're going to keep this one going. So anyway, I want to encourage you in that because these are really setups.
Krisstina Wise:Yeah, I love that. I love setup versus setback.
Scott Donnell:Yep.
Krisstina Wise:So your focus on family and what is the advice then? That it's like, okay, the, like the 60 year old couple that says okay for the. We finally want to create a family value system or structure or sit around the dinner table or. So what are you advising?
Scott Donnell:Yeah, a lot of it is, you know, if you have a healthy. Especially for entrepreneurs, right. Like if you have a healthy business or if you have a healthy family life, if your employees have healthy personal lives, strong families always equals showing up strong in work almost 100% of the time. You know, I've had issues where when things are not going well at home with our four little kids or my wife, or things are tough, I can't even think about work. In fact, I guarantee you I'm going to make the opposite good decision. Right? You've been there. Everyone's been there. It's like, you don't sleep, things are stressful. How the heck are you supposed to make a good business decision or execute on anything? So what we tell people is like, look, the most important business in your life is not the one that you wake up and go to every day. It's what you come home to. And if you put your priorities in the right order, right? Your faith, your partner, your marriage, your kids. Your health. And then you put business at the bottom. It actually helps your business explode and thrive more than anything else. My friend Chad Johnson, who's a strategic coach with Dan Sullivan, he says that he's like, you gotta have God, spouse, kids, health, business. But most people live the other way around. They live business, health, see my kids here and there, check in with my partner at the end of the day, and then maybe my last breath is like, thanks, God, or help me, God, go to sleep. When your priorities are unaligned, it really just can cause chaos. So that's why I'm so convicted. To spend my life studying and working with families to help them get stronger is because I know the power of a strong family in their community, in their business, in their relationships. Like, I had hundreds of franchisees at my first company. Apex were the largest school fundraising franchise in America. We started it 15 years ago. We've served over 8 million families in that one company. Teaching, leadership and fitness. It's a great company. Well, we had hundreds of franchisees. We had seven failures. So if you know the franchising world, that's like the best percentage you could imagine. Mostly it's like a 15 to 20% failure rate. Ours was like 3%, 2 to 3%. And that is, bar none, one of the best. But all seven of those failures was not because they weren't good at the business. It was because of a personal thing. It's because of a family issue. Divorce happened, business tanked, kid issue, estranged child, rebellious, anxious. A lot of mental health issues in the family. Business tanked. Personal health issue didn't manage that well. Business tanked. Right? Those are the things that cause nightmares in work more than anything in the work usually. So for me, I'm like, okay, we just want to make sure people have strong and healthy families, especially if you're a business owner. Like, you should use our program for all your employees because it will return in spades, aside from the fact that it's just good to do. But it will return itself with a huge ROI in your business, you're going to love your business more. So that's why I'm so passionate about it. Yeah.
Krisstina Wise:And it sounds like it's flipping the triangle on its head and like you said, just a reverse order. But the focus on family, the ripple effect of that is positive when the family life is home. And I think everybody would agree to that. And then just how much harder that it is when you are a single parent or where you're constantly battle maybe with the spouse, it just Makes life more difficult. At least I've found that to be true.
Scott Donnell:Yeah. And I think a lot of people, you know, the definition of family is a little different nowadays, right? Like, this is. We should probably start talking about these crazy four forces that are attacking our world and our families and our businesses right now, because that is insane. But family has kind of. The dynamic has changed over time. It's become very myopic. And I want people to have a greater view of family, right? Like your siblings, your cousins, your aunts and uncles, your parents. Like, that's all your family too. For some reason, people, like, stop thinking about that when they start having their own kids. They're like, okay, now it's just me and my kids or my partner and I and our kids. But there's a much larger view of family that we care about. You know, it's like, how do you honor older family members? You know, how do you. Like, here's a crazy question. Is there something that your. If your parents are alive today and you're listening to this, if your mom and dad are alive, is there something that they regret they're harboring inside of them about raising you or screwing up or pain or unforgiveness? Is there something that they're just sitting with, slowly dying that you can release them from or that you could both heal from? That's free. There's no money in that. Like, but that's a life changing thing to think about. Like with siblings that you've had issues with, really, what would it cost you to heal, to connect to. You know what I mean? To go the extra mile and love them. See, this is why I'm saying it's a much larger view of family, right? What we're seeing is that with our strategies, you can actually redeem the past. You can redeem painful things and make them better than you could ever imagine. And that's the mentality that needs to happen inside a family. Like, just because something bad happens doesn't mean that you can't heal from it. This is why God is so awesome. Like, he can actually make the bad things turn into something better than you could ever hope or imagine, right? Trials, they grow us. You know, why do you think there's pain, right? God allows things he hates, which is painful tribulations and trials in life. He allows them for some reason and he hates them, but he uses them to accomplish what he loves, which is for our growth anyway. Like, it's a different mentality than the whole world. And we've got an entire Generation of young people that are day trading victimhood and entitlement as their currency. And that's the thing that we have to stop, because that is a big problem.
Krisstina Wise:Yeah, let's. I really want to dig into that. So when you talk about these four forces. Yeah, and are these four forces that. They're forces at work that are kind of against families in a way that we have to fight against. Is that what you're talking about? If so, let's break those down and.
Scott Donnell:Just so everyone's listening. I see businesses as a family as well. You know, it's a team. The business is a team. But because you can't fire family members. I get it. But all culture is creating a family inside of a business. So I think of this the same way. If you have a team of employees or, you know, a team of people working, that you're working with at work as well as your own family, all these forces are attacking both the same way. So the reason why we call them the four forces is because throughout all my studies and our writing and interviewing these millions of families, we've started to see that in the last few years, just the last couple years, maybe four or five years, things are changing fast and faster than ever. And it's exponential. And the impact of that on our children is. It's wild. And the impact on our employees is wild. So let me just explain them briefly so you can kind of get an understanding of why, like, this is so critical. The first one is dopamine distortion. Okay, that is. And I'm pulling this up too, because I want to show you this. Maybe we can give a tool out to people when they're done. But yeah, so the first one is dopamine distortion. So if you look at what's going on with screens and technology and social media, everything is built to addict and hook whoever's looking at it. Okay. But if your prefrontal cortex is not fully developed, you actually have no other choice but to be addicted to that screen. Like, it's an automatic addiction. Like, if you look at what's happened, like I'll give you an example, the access of advertisers online has increased 800 fold over the last 10 years. So, like, the ability to learn what the user's doing, sell them things, show them ads, take their data, learn every function, or, you know, basically to hook them more and addict them more, that's gone up over 800x. Mobile advertising budgets have gone up over 800x since 2014. And so if you just look at every Single app on a phone, every single app on a screen, an iPad. You know, every time you turn on Netflix for your kids or something, it's a team of a hundred people behind every single app or every single show just trying to hook you to stay longer because that's the product they get paid the longer you're staring at it. And what that does to dopamine inside of anyone's brain, but especially a kid, a teenager, a young kid, is it literally distorts their chemical function, it distorts their brain and it creates complete isolation. So it creates so much isolation and anxiety. I just got a link from a friend, one of the guys that we're building this, these our family workshops out, he just sent me. Do you know Cocomelon? Have you ever heard of Cocomelon?
Krisstina Wise:No.
Scott Donnell:So Cocomelon's on Netflix and it's what all these, you know, parents put on for their 1, 2, 3, 4 year olds to give them a few minutes to like cook or do laundry or get some errands done or have some silence. Every parent knows what I'm talking about. Not saying it's a good or bad thing, it's just a thing that happens because it's the easy button. But there's a huge article that just came out on Cocomelon. They took thousands of babies, I'm talking like one year olds, and they had them stare at a National Geographic video. And then they would see whenever the kids eyes would bounce on different things, different colors, different animals, different things. And they would literally, they created an algorithm based on off of all these kids staring at the screen to see what would be the fastest way to hook them to keep staring at the screen and be addicted. So if you watch Cocomelon, they use gamma colors so that these super high contrast colors, if you look at Cocomelon, every 1.5 seconds, the screen changes to keep them hooked, to keep them addicted. 1 year olds, 2 year olds, 3 year olds, our children. So you wonder why when you turn off the show, your kids go ballistic. It's because you shut off the dopamine, like full stop. And that happens everywhere. Whether you're playing Minecraft, Roblox, any show now is taking the. It's not just an app that you're like, oh, I can't be on social media. No, it's every show. Binge watching is a thing because of that, right? Like this happens everywhere we look and it's exponentially growing at all times. And yeah, maybe you want to be the family that's like, okay, we're going to turn Amish and shut off everything forever. But that's just not practical for a lot of families. Many schools are using educational video games and educational curriculum and computer time. And most kids have some sort of a screen that they're looking at whether they're on trips or on the weekend or whatever. Not to mention the ability for predators to get to your kids through screens is about 50 times easier now than ever before. Okay, I study this for a living. I have an anti trafficking group with Tim Tebow that we work on technology to fight this. We have 150 members. Like we're fighting this with the best tech people in the world. But it is crazy to see. So dopamine distortion is the first force that is causing massive isolation and chemical rewiring in kids brains. So that is a force that we need to address. Right, like that's the first of the point.
Krisstina Wise:Are you giving advice? Because I think a lot of parents could, without knowing to that specificity the real danger that is happening at the one year old level. Even with Cocomelon for example, that's studying how to addict your child. Yeah, but screens are everywhere. Like you know, what is the antidote?
Scott Donnell:It's everywhere. So the antidote to isolation, it's our workshop. We have a 90 day transformation course that we take a bunch of families through live. We talk every month. They have a simple system to go through. It's our connection course. So in our connection course, the antidote to isolation for young people is connection, real connection with other people. And so what we do in that 90 day transformation is we basically take families through an entire audit and training on like, hey, how are you doing dinners? How are you doing technology? Like we have a lot of protocols from the best families and experts in the world on how you should think through technology. Like what sort of things you can do to protect your kids, how long you delay any sort of, you know, smartphone for them, how you educate them around predatorial behavior and a lot of these addicting things for them. How do you actually protect your kids with technology? The average young boy sees their first pornographic image at age 11. Now 10 and a half to 11 average, I'm saying in America. And the number one way it happens is at a sleepover or a friend's house from an older sibling. That is the number one and two way that it happens. So you're like, oh no, our kids don't look at screens in our house. Okay, well careful when they're ever outside your house. Playground, sleepover, older sibling of a friend happens. Unfortunately, it happens millions of times a week around this country. So we talk about travel, we talk about conflict, we talk about being aligned on discipline, we talk about how are you actually connecting as a family. Do you have rhythms and rituals and routines that give your kids like this anchor for connection in the home? Right, we walk through that. It's what all. It's the strategies of the top families of what they do. So that's our answer. That's our anecdote for the dopamine distortion.
Krisstina Wise:Okay, Force number two.
Scott Donnell:Force number two. Instant gratification. Instant gratification has always been like, talked about. Like we need to teach delayed gratification, but it is exponentially hitting our kids. And now it's at the, I think it's at the red flag giant. Like we need to put a giant red flag in the ground for everybody because it's gone up at least 20 fold just in the last 18 months. So if you look at instant gratification and what happens to a young person when they can get everything at their fingertips? Right? So Uber, let's just look at Uber. Eats doordash food whenever I want it to the house. Lyft and Uber, I can drive wherever I want. Half of 15 year olds now when you ask them, they're like, I don't really need, I don't really want a car. I don't want the responsibility, I don't want to get a driver's license. I just eat Uber everywhere. I Lyft everywhere you go. What? That used to be a milestone of adulthood. You need to like start making money to pay for your gas and pay for your car and be responsible and not drive into a telephone pole. And I can't wait to get a car to drive my friends around. And that was a mark of maturity. And that's gone. Okay. Half of kids don't even care about anymore. It's wild. So instant gratification has caused that. People don't stick with it as much. They don't stick with anything as much. You know, I can get any show, I can binge it on social media. I can find clips of anything anywhere I want to go at any time. Oops, sorry, my camera just shifted. That's the problem. Does that make sense? So we have a big issue with this instant gratification. And then you throw on the top of it, throw on Amazon Prime. I can get it anything I want tonight. Okay, well, let me ask you a couple questions. How do you become a good investor if you're raised that way? If mom and dad pay for everything and you get everything you want right away, and it's exponential, it's 20 times more today. How do you become a good investor if delayed gratification equals compounding interest? You can't just tell your kids anymore. You need to have delayed gratification. They don't care because they just came home and they used chat GPT to do their homework and you didn't even know. Right. Instant gratification. So that is a massive problem. Okay. Delayed gratification is one of the greatest things you could ever have for a strong marriage, for a strong family, for lasting relationships. But if you have an instant gratification mindset, you just cast people aside. This is why we have like a delay and delay and delay in people making committed long term relationships.
Krisstina Wise:Yeah.
Scott Donnell:People think that all the technology and advances help people. More people become entrepreneurs. You know what the greatest reason why more people are not becoming entrepreneurs right now? Instant gratification.
Krisstina Wise:What do you mean?
Scott Donnell:They want a paycheck now. They want their money now. They don't want to work hard and not make money for a year or two to build something up.
Krisstina Wise:Got it.
Scott Donnell:By and large. So even though they have more, I mean, you try building a business back in the 50s when you had no phones, no computers, no emails, literally, my grandpa used to tell us stories that he would write a letter to somebody to do business with them. It would take two weeks to get there. The person would read it, think about it, and write a letter back and it would take two more. So that's one conversation every month if you're lucky. The tools today have made entrepreneurship a thousand times easier, yet no more entrepreneurs.
Krisstina Wise:Wow, that's fascinating.
Scott Donnell:Yeah, it's terrifying. Honestly, like, we, we need to raise a generation of like delayed gratification, willing to put the work in people. That's how you build legacy. So what these hundred families did is they're bucking those trends. Like, they're like, no way. We're gonna, we're gonna teach our kids delayed gratification. We're gonna teach them investing when they're 10. We're going to work on things that take a long time to get. So that's a big deal. And the answer that we have to that, because what instant gratification creates for us is fragile children. That's what it creates. Fragile employees. Right. And so for us, the antidote to fragile is antifragile, which we call courage. So we have a 90 day transformation series for families and kids and teens all around courage. So we have three aspects of courage that we go through with them. And each one has a bunch of strategies for the home and tips and implementation tools. But the first one is do hard things. Second one is make big decisions. And the third one is leave things better. All around you learn to leave things better, do hard things and make big decisions. You'll have courage and you won't be worried about the instant gratification, delayed gratification issue. Make sense.
Krisstina Wise:It makes total sense. And you know, when I'm sitting here just listening to you and I mean, how, like what just such practical, simple, meaningful values really, that creates courage. And at the same time, you know, I mean, I work with families too in a different way. With my work and I experience, I'm noticing these. Everything you're talking about, like in adults and in the situations that you're talking about.
Scott Donnell:Yeah. It's not just kids.
Krisstina Wise:No, but through people's finances. Like so much of the reason why people are month to month is because of dopamine distortion. Just that Amazon box showing up to instant gratification and just wanting things to buy things now and keep up with the Joneses and do the things. And when I'm looking at just people's books and a lot of, let's say, the misspending, it's because life is just so complicated when you're running into three kids, different activities and there's not time to sit around the dinner table and you can't really create any family values because everybody's going different directions and the spouses pass each other in the night and then, you know, the Amazon, then doordash shows up because there's not time to make dinner. And even though these things sound like yeah, they make sense, it's just like it appears that families have created these lives that are so fast paced and complicated. How do you start to implement these types of things?
Scott Donnell:That's right. And what we found is there. We've tried every way you could ever imagine. And the best way to do it is be in a community to keep you accountable with it. That's why we have these like simple, easy 90 day transformations. You're checking in, you're being accountable, we're celebrating with you. There's other parents that are cheering you on, asking questions together. That's the only way you'll do it. To force yourself to be accountable to a group of other families to implement it. Right. Like this whole antifragile courage thinking. Right. How do you raise kids that are unshaken by the world? Everybody wants that I've never met a parent that doesn't want that. But very few parents I've ever met actually succeeded in doing that. And it's because you have to have a system to help your kids become courageous. Like, they're not necessarily just born that way. Everyone can build the muscle of courage. Everyone can build the muscle of delayed gratification, but it's about being intentional with it. If you're buying everything for your kids, I guarantee you they're entitled. If you're fighting all your kids battles with their siblings and friends and teachers and coaches, I guarantee you they're going to be victims. It's very simple. But we think we have this misguided idea today that's love. Could you imagine doing that with an employee where you're like, okay, I'm gonna pay you whatever you want whenever you want. I'll reimburse whatever you spent whenever you want. I will handle all your issues with customers whenever you want. Like, you don't have to try or grow. And, yeah, we'll have a conversation, but I'll really handle everything at the end. You would fire that employee, yet you're raising someone to become that employee.
Krisstina Wise:Exactly.
Scott Donnell:Crazy. So that's why we have these simple systems, like, hey, here's how you do gigs in the home. Hey, here's how you set up a system where your kids learn to problem solve in these 30 areas. Then they're going to be great problem solvers. Hey, here is a language to use in your home on birds to help your kids become like eagles, which are the strongest wings of any bird. And they take storms, and they rise above the storm. They're the only bird that takes the storm that's coming, and they rise above the storm. That's how you should handle problems, with courage. You use them to grow and get better and rise above them. All the other birds, like chickens, they run from the storm because they're scared ostriches. They put their head in the ground and they avoid. They think it's not even there. Pigeons are the handout bird. They literally depend on handouts from humans. So don't be a pigeon. Pigeons used to be the carrier pigeons. Pigeons used to be the ones taking our communication and letters from castle to castle. They were the most bad a bird in history, in my opinion. Like, they were our telephone lines. So important. And then all of a sudden, with technology and telephones and electricity, pigeons became absolutely obsolete. No courage whatsoever. Now they're sitting in the inner cities expecting breadcrumbs from passerbys do not be a pigeon. You see how like a 5 year old can understand this language. It's so clean when you think about it, with children in your home. So now, oh, and by the way, and don't be a vulture either. A vulture takes storms that happen or hard things. When things get hard, they steal from other people, they screw over other people, they prey off of other people. Like, don't raise a vulture because that vulture will cause train wrecks everywhere in their life. But so often families that have high standards and low love and edification and nurturing, they raise vultures. They also raise swans. You know, the swan. That's perfect on the outside, perfection. And on the inside they're just terrified and anxious and their feet are like doing this under the water as fast as they can. Just anxiety everywhere. All these teenage girls raised under those standards, having to be perfect online, having to have everything put together, having to be the best, having to look like a supermodel. That's a swan. But inside they're crumbling and they're caving and they're going to be in mental health, you know, psych, like therapy for decades to try to unpack it if they ever do. See what I'm saying? So raise an eagle with high standards and high edification. See, this is why we have a phrase that we learn from these families that is like, we want to be good coaches, not caretakers. And I'm like, what a. That is the best business advice too.
Krisstina Wise:That is so good.
Scott Donnell:Be a coach, not a caretaker.
Krisstina Wise:Right?
Scott Donnell:Like, so think about that. Like, what are caretakers there for? Caretakers are there for like babies until they're two. Mostly caretakers are for old people in elderly homes. And they're there to remove struggles. They're there to remove obstacles and challenges and problems so that the person can peacefully decay to death. And there's nothing wrong with that. Like, but that person, they're preparing for the end of their life. They're in hospice. They need a caretaker to take care of the things. It's gotta be the op. But so often we parent kids like a caretaker and with instead of being a coach. Right. Kids need to embrace struggles and challenges and problems to grow and learn from them. Our job is to coach them, not solve everything for them. So be much more of a coach, not a caretaker. I don't actually, like, I hate reading parenting books because, like, there's gentle parenting, there's free range parenting, there's helicopter parenting, there's all these parenting things. I'm like, forget that. Start reading Good coaching books. Like, read the best coaching books in history. Sports coaches, business coaches. You'll become an awesome parent if you just implement that with your kids.
Krisstina Wise:That's great advice.
Scott Donnell:Right? So that's some of the courage thinking that's our second force.
Krisstina Wise:All right, first three.
Scott Donnell:Force three is okay. So I want to be careful before I say this. This is not a political statement. All right? We have people, all different faiths, all different political beliefs in our communities. So. And I'm not a. I don't say political things I don't mean to, but what it is an anti family force in our culture. And I don't even know if that's Democrat progressive or if that's like super conservative, wild. Like, I'm not saying that. You know, the word woke has definitely been thrown around as a political thing, but what I'm talking about is just straight anti family focus. And it is becoming so real. And you can smell it, like. And what it's saying is like, hey, Home Improvement was the best show when we were growing up. At least there were two parents there and three kids, and they stayed in the same home and they solved their problems together. And they knew Mr. Wilson next door over the fence, and they actually knew their neighbor. You know, like traditional family. Boom. A decade or two later, you've got Friends and Seinfeld as the number one shows in the world in America for a decade. No family, no kids. You don't need family. You just need to hang out in the inner city in an apartment with your friends. That's the real living. Okay? And now you fast forward and the whole goal is to detach what an identity is to somebody. So now you have transgender, now you have kids thinking that you can have. You can assume any identity that you want. There's all these different forces. Don't have kids. Kids are a burden to society. The world's too overpopulated. You are. That's what it tells children when you say that you are a waste of time and resource. Don't get married. Marriages end. Marriage is a nightmare. Delayed as long as you can live together for seven years in common lot if you really need to. You know, if you look at the average amount of sexual partners that a 30 year old has today, it's wild. In fact, the average amount of sexual partners that the average 30 year old has had is equal to 30 years ago. All of the sexual partners that someone would have in their entire life.
Krisstina Wise:Wow.
Scott Donnell:I'm sorry. 25 by 25. That's wild to think about. So what's happening is this anti family forces that are coming at you from all around. And the problem that causes is rudderlessness, confusion. The kid doesn't know that there's two genders or is told by everybody that there's all these other things that family's bad, kids are bad, marriage is a waste of time. Like it's anti family focus, in fact. Oh, your parents believed this way. You know what you should do? You should cut off your parents, you should never talk to them again. You should never let your kids see your parents ever. This is what people tell them in colleges. Like for you to be mentally healthy, you should cut off your family. And now you have millions of parents who saved their entire life sending their kids to college, spending six figures and their kids go away and get propagandized out of the family values. Horror is what I put as the word to that. So it creates rudderlessness, it creates confusion. There's no identity, there's no structure. So our answer is core values. So our 90 day transformation on that is building an identity inside of your home with your family. And this can happen if you have kids in their 40s, grandkids, kids that are young at home. It can happen anytime. We take you through a system of how do you create family values and a mission and like an identity around your family. What does it mean to have your last name is the idea here. And there's so much to it. But like it also connects to how do you create an inner circle of families around your family? Like, here's a question, do you have a list of qualities and attributes of the best people you want in your life around your family? Nobody does that. We call it our inner circle heat map. We walk families through how to create a system with which to create a great group of mentors and advisors and other kids and families around your family to create a stronger identity, right? And most people think that you could just create a list of values and like put it on the wall or put it inside of some briefcase somewhere. That's not what we're talking about because that's useless. In 30 years, your kids aren't going to sit around a campfire talking about your family mission statement on the wall or your values, they're going to be telling stories. So now if you think about it differently, core values can only be shown through stories. As you build craft and articulate stories within the family that become codified. And these are stories from your past, your ancestors, your childhood, your marriage, your life, good or bad. Because even bad things that Happen in the past can become incredible stories of your values and transformations. Right? We tell our kids about the Oregon Trail. Our family came across the Oregon Trail. We go all the way back to King Agrippa of Scotland, like we were early pilgrims. Like, we tell them these stories of grit and perseverance and faith and values. All these things so they know where they come from. But we also make stories of them. So every night at the dinner table, you know, my kids say, our values. Hey, what do we stand for? All the kids yell out, faith, family and fish. And fish stands for we're fun and adventurous. We have integrity. We live with integrity, service, and hard work. Fish. And we want them to learn to fish and be fishers of men. But, yeah, faith, family, fish. They know what we stand for as a family. They've been saying it every day for years, and they love it, because then they know that right up next to dinner, they're finding stories from the day where they did something related to faith, family, and fish. And so Amy and I, my wife, were hunting for stories of how our kids are distributing or displaying our values in their life. And those become the stories of the family. Right? And that is how you build a rudder. That's how you build an identity for kids. Kids are five times more likely to carry on your values if they know where they come from in the real world. And the way to do that is through story. So we help families build all that out with a crest, with stories, with, you know, it's just super powerful the way this happens. But very few families actually take the time to do that. They think, well, you have our last name. That's good enough, right?
Krisstina Wise:All right, let's go to number four.
Scott Donnell:Okay, so number four is the wildest one. I think the fourth major focus that's really disrupting families and businesses is the AI revolution, the information revolution. All right, so 100 years ago, information would double every hundred years. Then the printing press came out. Then information doubled every 25 years. Then the Internet came out, and that got cut down to a year, which for a long time, people are like, wow, this is crazy. Information's doubling every year. Well, now with all of the media and the data and the AI revolution, and now supercomputing and quantum is coming and machine learning, the time it takes for all of the data and information in our world to double is 13 hours. So what does that mean? Okay, it means that children feel obsolete already. Teenagers, obsolete. You know, 10 years ago, you graduate from. With a medical degree and 50% of everything, you Learned in that medical school is like they have new studies that trump them and fit, you know, go against them. And literally half of what you learned after 18 months, half of what you learned is up for debate because new studies come out, new data. Well, what is that today, the day after you graduate, right? So you go to school for eight years, get a doctoral, and a day after you're done, everything's doubled. How are universities going to keep up? They're dead. Like, it's. I don't know how they're going to keep up with this. In fact, the skills of the future aren't getting some degree in some place. The skills of the future are delayed gratification, learning how to learn practical life and financial skills, critical thinking, like fast acting, like adaptability to technology and creating value. Like, those are the skills of the future with emotional intelligence and love and selfless, like, you know, fruits of the spirit. Those are the skills of the future. And we're not learning those in mass right now. So this AI revolution, it makes kids feel, not just overwhelmed, it makes them feel obsolete. And that to me is like a really. It throws up a big red flag for me. Just because when a kid feels obsolete, they think that they're useless to society. That's a mental health nightmare.
Krisstina Wise:And they're feeling, they're feeling obsolete because you can't keep up. I mean, if I say solves all the problems and has all the answers.
Scott Donnell:Then, well, it's not just that you can't keep up. It's that for every one thing you learn, there's another thing that's the opposite. What's true? What are the rules? I mean, parents are arguing over whether their kids should or should not use AI to do their homework. Like, I was just hanging out with a dad yesterday and he was like, yeah, my son, he used AI and did the entire thing in two minutes. And his teacher didn't know. And then he told me and now I'm like, well, do I want him to go back and do all of it and write it out by hand, or am I going to applaud him for learning quickly and he knew exactly what he was looking for in the content and he's becoming technologically savvy. And yeah, he should probably go tell the truth to his teacher. But we need to have a conversation with the teacher because I want my kids using AI for their advantage instead of having an entire school district block out AI. That's like having a state say, no cars in this state, we're only doing horses. Terrible Idea So we have to adapt and we have to give kids. So our answer to all this is capability. So our 90 day transformation around that is capability. We're giving them practical life skills, financial skills and all these different things inside the home that they can use strategies to help their kids grow this way to build capabilities. And when you have certain capabilities, you get confidence, you get power, you know you can do it again, right? This is why we have these children's business fairs. You know, there's thousands of them every year. Kids are learning capabilities, they're learning money skills. You know, they're learning how to solve a problem for somebody else and meet wants and needs and have learn about competition and pricing and profit and cost of goods and sales, pitching and like these are just simple things that families can do that they never even thought about in school. So there you go, that's the fourth one is information. Doubling every 13 hours is changing the landscape right now in the last year and a half.
Krisstina Wise:So this is just to sum all this up. I mean it's. I love this, I love this like in a very simple framework, but force number one, dopamine distortion. And what if I. What that creates is isolation. And yeah like kids feel isolated, humans feel isolated, which creates all sorts of, you know, depression and anxiety and all the things and more technology than ever, but feel more isolated. And the anecdote to that is connection. Like how do we connect as a family and to get in between some of the screen time and other things that we have these rituals, we have things, we have connection time and just such a simple like I love like the anecdotes to this is because yeah, I think we can all create more. And like you said, it could be small kids at home, it can be adult children, it could be grandchildren. It's never too late. I love what you said. There's never too late to start. But how to create more connection as a family? Love it. Two, instant gratification. And what that creates is fragile children and entitled children and victimized children. And that's not going to go well. And what do we do we create courage for through more delayed gratification, but to create more courageous children that you can create courageous children. And then three, the anti family force. I love that it just, it creates confusion and lack of identity and who am I? And all the stuff that that doesn't work out well without a rudder. But when kids feel like they have a rudder that they can set direction and you know, have capabilities to be able to move the rudder to get Them where they want to go and to just have core values and just again, family. The it's about family versus anti family. And then this AI revolution. Kids feeling obsolete and overwhelmed and we have to give them these capabilities. And I mean, we could have a whole conversation around college and these different things that talk about obsolete. But I just love how, hey, there's these big forces in the world and we as families can combat these the best that we can by inserting just very simple values, conversations, stories and capabilities, I guess. Or teaching kids how to develop capabilities. Practical.
Scott Donnell:Yeah. If we as a society are outsourcing our parenting en masse and we don't realize it, like, we're like, oh, don't worry, they'll go to sports to learn discipline. They'll go to the extracurricular camp or whatever to learn these skills they're going to do. School's going to teach them all they need to learn. Church camp or church will teach them the faith side. And all of a sudden you've outsourced your parenting for their entire childhood, and then you wonder what happened later on when they buck the trends and go the opposite direction. It's like, we gotta stop outsourcing. Like, this stuff does not happen around the school desk. It happens around the dinner table. Like, this is why this is such a critical thing. It doesn't matter if you're homeschooling or not. Our kids are not homeschooled. We have like a hybrid for a couple and the others are going to school. But we have a system in our home to make sure that they're not missing the right things they have to learn and connecting with them as our kids and building the things that we want them to think and learn about as they grow up. Most families are just like, I just got to make enough money, get them to all their things and get them out of the house so I can have that stamp of approval that I did it, you know? Well, we got to think a little differently about this. You know, if you want to have a great legacy, spend twice as much time and half as much money on your kids. Like, it's a lot of this is like really ancient wisdom, simple wisdom. Some of it's biblical wisdom. Doesn't matter if you're a Christian or not or Jewish or not. It doesn't matter. Like, you just implement the strategies and you start to see transformation right away. And we just want to see all these families grow and get stronger and businesses too. Like, I don't want to just pigeonhole this and say, it's only for families with children. It's like, I have businesses using this content in their business. You know how many businesses have terrible core values? Like they have good words but nobody knows them. None of their employees could ever like actually say them. They don't know what they are. But what if you took our tact and our thinking and trained your teams to think through the story side of this? That's actually how your business starts to grow. Endorsements and testimonials and referrals and virality and net promoter scores. Stories are way better than values on a wall.
Krisstina Wise:Yeah.
Scott Donnell:Imagine applying all four of these things to your business. Capability, growth, leaving things better and being anti fragile and having courage to make big decisions. I want all of my. I've had a thousand employees. I want all of them to do that. And then connection, growing in your relationships together and creating an amazing culture. Right. I wish businesses all did our family content. I just go for the family side because my expertise is talking like I'm talking to a five year old because I never grew up. Like I'm childlike. That's my whole life.
Krisstina Wise:So anyway, all right, thank you for all of this. And I just love how you have really distilled this down into these four forces that we can become more aware of so that we're just not in it without realizing what's happening to close this out. You do a lot of work and have done a lot of work with kids and money and families and money. And what do you see as a number one? If you can make a number one, but like the number one mistake parents are making with their kids when it comes to money, that is creating kids that don't understand money, that find themselves in, you know, difficult financial situations and just, you know, the financial kind of trauma continues.
Scott Donnell:Yeah. Biggest mistake usually is that parents teeter totter from how they were raised. So money trauma, I think is one of the craziest traumas in the world that no one's ever talked about. Because money is the trauma that you actually wake up and work for the rest of your life. Every other trauma you're trying to heal from or forget or forgive or get away from or whatever, you got to wake up and make money. And money is a crazy trauma when you're growing up. Like if you come from nothing, money becomes identity, it becomes achievement and status. It becomes like the focus. And then if you make a lot of money and you're a first generation wealthy millionaire entrepreneur or business person or high performer, then you raise kids and you Go. I just want my kids to never have to deal with the things I had to deal with. I never want them to have to struggle like I had to struggle. I want to give them all the opportunities I never had. Disneyland and this and that and this. Buy them all these things, do all this pampered, fun stuff. And yet experiences with your kids is a great idea. Do as many as you can go to Disneyland. But if your mentality is, I'm just going to give my kids the opposite of what I didn't have. Well, what made you careful? Because now you're buying everything and you're slowly entitling and spoiling them. Spoiling them, right? And then other times, people that come from Silver Spoon have a lot of pain. If you're pampered growing up and you have a lot of pain in your early adult life, and then you become almost like a hard knock. And it's like, well, I'm gonna tough love the kids because I went through misery and it's a struggle, right? So people teeter, totter back and forth and back and forth. I would just say unpack where you came from in your relationship with money and what it meant to you. And once you can let go of that and heal from that, then you'll be able to parent your kids in a balanced way. But so often we say things to our kids that we don't even realize are subconscious. Like, you didn't earn that. Money doesn't grow on trees. We can't afford that. Do you know how much that costs? Do you know how hard I worked to get you this? And you just took it for granted it you spoiled. Like this stuff comes out of our mouths to our kids and we don't realize that we're speaking identity into them. And I can tell you all about the seven money skills and death. Save, spend, share, give, protect, borrow. I can tell you all those and how to teach them. But it pales in comparison to that basis. Like, giving your kids the right view of money is really important. Money is a tool. Money is a store of value. That's it. It's a store of value. So if you create value for other people and solve problems, then money is usually a result of that. But there's other types of value. There's emotional value, there's spiritual value, there's lots of value, right? So we should be getting kids to think about creating value in the world first, not thinking about money. Right? We either avoid money altogether, which isn't good, and we pay for everything, or we make Them think that money is everything and it becomes their identity, and then it's an idol, and then it's keeping up with the Joneses. All these problems. You gotta put money in its proper place.
Krisstina Wise:Yeah.
Scott Donnell:Simple, easy advice is like, don't do allowance. Allowance is socialism. Mini socialism. Okay, what you should do is don't do chores. What you should do is build skills with your kids, not chores. Chores is a negative word. Makes them all miserable. They fight you every time. It's behavior issues, it's conflict. Well, build skills and then have expectations in the house where they're supposed to do these five things because you don't get paid. But then here's a bunch of other extra things we need done that we'll pay you for. And then here's three or four expenses. You're in charge of birthday presents for friends, social outings, toys. One thing for every sport. You got to buy the baseball bat, you got to buy the cleats. You got to buy one thing. Just pass off those simple expenses and your kids will start to learn all the money skills they need. After they save 20%, give 10%, like a, you know, charity, and then the rest they can live off of. Keep it simple. Right? That's how you do it. But most people, oh, and then last thing, tell your kids, whenever you invest in something or whenever you give to something, sit them down, do a family party, which we call our meeting. Family meeting parties. We have a system for this. Walk them through what you invested in, why, and how it's going to create a return. Walk them through what you donated to and why you wanted to share. You know, walk your kids through these things. Teach them. Most people don't even think about telling their kids. They don't tell their kids anything. If they've saved any money for their future college, if they what their net worth, their salary, if they have debt, they don't tell their kids any of that stuff. They just try to avoid because they're terrified. But if you, if you want your kids to be financially competent, you got to go through the money skills and teach them.
Krisstina Wise:Yes, it's exactly so important. And you know, I heard this. I think his name is Wall Street Trapper, and I think he was on like the Tom Biloe podcast or something. And I just loved his way he thinks about money and his story and all the things and. But one thing that he said that's very similar to what you're saying, that was a kind of a wake up for me is that the, you know, I talk about Money to my kids all the time. It's a very safe topic. It's just, you know, I mean, I teach this stuff, so it would stand to reason. But one thing that Wall Street Trapper said is that when he really started to learn money and understand the importance and put it in his place, and he said he studied these things, what you're saying, and that he changed his whole life around by developing a new relationship with money and clearing up all that childhood trauma because he grew up on the streets and he did drugs and sold drugs to make a living and all the stuff. And, you know, so he completely transformed his life and his relationship with money. But then he said, then I realized, like, I was leaving my kids out of it and my family out of it. I was just doing it. And he said, so now what I do is we have at least an annual meeting with, you know, his kids are grown and different things. We have an annual meeting. And he said, I'm the patriarch of this, and that's my job, is to teach money. This is where the money is.
Scott Donnell:This is.
Krisstina Wise:Is how it is. There isn't handouts. He teaches them investing and why he's investing in the different stocks that he is. And exactly what you said. And that just struck with me, like, oh, I'm not doing that part. Like, I'm going to start doing family meetings with my adult kids and these things. And just where it's not even that I'm passing down, like, how to think about money and a healthy relationship with money and how these things, but as a family unit, this is where it is. This is how we're doing it, why we're doing it this way. And this is how, you know, do you have any ideas or things to even make it better? This is how the trusts work. And yeah, it's just like, oh, and it just felt so good. Like, I want to be the matriarch, kind of the money matriarch of the family and really teach these money values as a, you know, generational. Like, I love that saying that you have is heritage, not inheritance is like this family heritage. So, yeah, I just. I don't think that can be emphasized enough.
Scott Donnell:Yeah, that's exactly right. I mean, we need to do more with our kids instead of for them. I would put it that way. Simple enough. Like, the more you do with them, the less you'll do for them. Or actually, how's another way to put it, you will do everything for your kids until they learn how to do it themselves. So if you do it with Them, you'll train them up the right way. And this is with everything. Not just, you know, building skills around the house, which people think of chores, but it's with financial things, it's with their future, it's with everything. Do more with them than for them.
Krisstina Wise:Yeah, I love that. All right, one final thing before we, we wrap up today. When we first met, you said something that really stuck with me. So you said two things that stuck with me. One was the money's the one trauma that we worked for the rest of our life. So I'm glad that you put that one back out there again because I was like, whoa, that is so real. And the other one, I think I'd love to get your statistics because I can't remember them, but basically you work with thousands of families and probably ten thousands of kids. And you said something along the lines that after interviewing thousands and thousands and thousands of kind of middle school aged children, that they're saying that money is the one thing that I want nothing to do with because it is the argument in the household. So what? And I just again, please repeat that. That are in your words, not mine, that are messed up. But again, I just want to leave this conversation because I thought it was such an important. Just, you know, from the mouth of babes.
Scott Donnell:Yeah. So most of the kids that we interviewed when we were starting a lot of our content and our books and the data gathering, most of the kids reported that they just. Money had an ick feeling. And we're like, well, when we unpacked was. They kept saying all the things like I said earlier, like, money doesn't grow. They heard parents say, we can't afford that. That's too expensive. Money doesn't grow on trees. You didn't earn any of this. Do you know how much this costs? But then on top of that, they would hear parents argue over the bills. They, you know, you think your kids aren't listening? They're always listening, like arguing over expenses and budget and bills and work and travel and money and issues, the stress that causes. Money is one of the top issues in marriages. And so kids hear that and they run from it. They don't want to talk about money. It's the biggest fight in the home. Okay, so then what happens is parents pay for things, especially in divorce situations, in co parenting situations, kids go to mom and she wants them to have a better time than at dad's spoiling. And then they go to dads, he wants them to have a better time than a mom's entitlement and when you do that, it's this like nasty tornado. And so the best way to fix that is to sit with a co parent and get on the same page as to the things that you want to teach your kids around money and values and be consistent in that. Okay. And you got to be careful about the way you speak about money. Money's not good. It's not bad at all. You should not think of money as bad. Then that's a poverty mindset. You'll be broke. Right. Money's a tool. It's a store of value. So the more value you can create material value and solve problems, the more you earn usually. And we just got to have these open conversations with our kids or else they're going to start to connect money as usually a problem and a bad thing. So that's why it's so critical. And then you see what's happening with entitlement and victimhood. And you know, young gen zers are not investing in the market at all. And you're like, why are they not investing? Why are they not in part of our capitalist society? Why do they believe in late stage capitalism? Two thirds of Gen Z believes that we're in late stage capitalism. As if the train's gonna stop soon. So they just wanna live for today and get their paycheck and go into debt and live for the experience in the moment. That's literally like the. What is that? The ant and the grasshopper. Like bad idea, please. Like let's be ants here and prepare. But yeah, that's what happens when you go and you're raised for 15 years around those issues. So that's why we want to have these great conversations now.
Krisstina Wise:Absolutely. So Fig and Eagle, a next venture for you that you're going to be opening the door soon. Do you want to mention that?
Scott Donnell:Yeah. So Fig and Eagle is our new brand for families. We're doing strictly the legacy training. So stronger families with those four forces. The four transformation series for courage, connection, capability and core values. We're, we're relaunching our brand and podcasts and socials here pretty quick. So we, we just want to focus on that because I think that's the greatest transformation we can have. So it's not as much of the financial literacy. There's going to be pieces of it that are for sure. But if you raise your kids to be good with money and then they never talk to you again and you never have strong relationships and you never see your grandkids like, bad idea. So we want to go into this holistic training for the families. And so that's what we're doing for 90 day transformations online Zoom workshops. We're going to be selling products soon. We're going to do in person events. And so anybody that has a great. Wants to have a great family or a great business and family together would love to interact with you. Just go to figaneagle.com awesome.
Krisstina Wise:Scott, you've been so generous with your time. I love that you work the work that you do. I love your mission and passion behind it and more importantly, I love that you practice what you preach like you're a living example and it starts at home. So thanks for being you.
Scott Donnell:Thanks, man. My wife is the real thank you here. I just get to ride her coattails. But I'm very, very grateful. It's a beautiful life and I just want more people to. It's not a perfect life. Gotta. You know, I just cleaned up puke and poop in the yard and baby stuff and yeah, I wiped a butt two minutes before this podcast. So, like, I'm just a dad. But what I've seen is these simple strategies from the best in the world have made our family so much stronger. And I just want more families to have that.
Krisstina Wise:So I love that. Well, let's complete here with families. I would love to get you back on so we can talk about entrepreneurship, which, like you said, kind of this other side of the family equation because you've been a very successful entrepreneur and I think there's so many values you can pass along there as well. But thank you.
Scott Donnell:Yeah, thanks for having me. It was an honor. Appreciate it.
Krisstina Wise:My pleasure. I hope you enjoyed that conversation as much as I did. If you wish to learn more from me about financial abundance, business and wealth creation, I invite you to check out my new YouTube channel. Subscribe and receive weekly money education videos. You'll find me at YouTube.com hristinawise YouTube.com @k r I S S T I N a W I S e Otherwise, join me again next week for an episode of the Wealthy Wealthy podcast where I interview experts about the intersection of wealth, health and business. Until then, live your wealthy, wealthy life.