S3E34 - Will Rainey - Unlock your child’s financial future

My next guest was an actuary in the early part of his career until 2019 when he and his wife achieved FIRE (Financial Independence, Retire Early). At that point, he started a blog and wrote a book that helps children save and invest. In this episode, we break down some of the key takeaways such as rich vs wealthy, why an allowance can teach kids to save early, and why patience is the #1 strategy you need to become wealthy. Please welcome Will Rainey. Key Timecodes (00:48) - Show intro and background history (03:14) - Deeper into his business model (05:51) - A bit about his book (07:15) - Understanding his corporate experience (08:08) - What are the key takeaways from his book (11:18) - The difference between being wealthy and rich (13:02) - What parents can do to help their children learn about money (18:21) - Stocks as businesses that we are investing in (19:51) - A bit about joint and custody accounts (22:16) - The foundations of teaching young people about money and investing (23:20) - Deeper into his book and philosophy (25:22) - Does he provide educational webinars or school seminars? (26:19) - A key takeaway from the guest (28:55) - What is the worst advice he ever received (29:20) - What is the best advice he ever receives (30:11) - Guest contacts Payback Time Podcast A Podcast on Financial Independence. Hosted by Sean Tepper. If you want to learn how to escape the rat race, create passive income, or achieve financial freedom, you came to the right place.