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What the Successful Teach Their Kids

What the Successful Teach Their Kids

Who do you go to for advice when success seems impossible? The successful, of course. Amanda Cassar’s new book ‘Financial Secrets Revealed’ does just that – it shares the stories of some of the world’s most successful entrepreneurs and advisors to give others the courage that they’re not alone. As one of Australia’s top 50 most influential financial advisors, who better than Amanda to gather this ‘collective wisdom’ and share it with the world?

“Despite their diverse backgrounds they all had common ground,” says Amanda. “Their parents failed to teach them financial literacy – something they were tackling head on with both their clients and the next generation.”

Determined not to let history repeat itself, the book’s contributors share the lessons they’ll be passing onto their children – and the ones you should be passing onto yours.

What they say…

Serial entrepreneur and Telstra Young Businesswoman Award Winner Tina Tower shares what she wants her children to learn about money, saying, “I don’t want them ever to trade time for money.” Gold Coast-based Tina loves collaborating with her husband and children on all their family decisions together, and loves spread sheets and managing the family budget with input from all. She’s also discovered that the more generous she’s been, the more money seems to flow.

On the other hand, UK Financial Adviser and BBC Radio regular, David Braithwaite wants his son to learn that you must work in exchange for money. He says he wants to pass on positive messages but that if something breaks, you need to expend more effort to replace it. He also believes that delayed gratification is important and wants his son to understand the ‘value’ of items versus the ‘cost’.

Mum-of-five, recent author of ‘Winging It’ and Global CEO of Business Chicks, Emma Isaacs, also shares her top tips that she’d like her little ones to learn. “I’d like my children not to have any fear around money, and for them to understand that money is just an energy – it comes and goes and is mainly attributed to your mindset.” Her grandfather, who was also an astute investor, taught Emma about blue-chip stocks and dividend reinvestment strategies early.

Former investigative journalist and international speaker Tanya Targett disclosed that she’d like her daughter to understand about an abundance mindset. “We’re often told that we’re crazy or that our dreams can never come true, but I’ve decided that those rules don’t apply to me, and I want her to learn that from my example,” she says. “You can turn things around and come out on top.” Tanya’s early messages around money were very negative. She was constantly told that good people can never get ahead, and that you have to break the law to make money. “I’ve moved on from all those lessons and she’ll learn a whole new way from me,” Tanya says of her daughter. Having also moved on from a financially abusive partner, she strongly suggests that all women keep a completely separate bank account to maintain their own independence, and she will be sharing this tip with her daughter too.

South East Queensland-based psychologist, Chief Head Mechanic and CEO of Pragmatic Thinking, Alison Hill has two children and wants them to learn the benefits of compound interest. She’d love them to put away for savings and retirement early, and as an avid philanthropist, she also wants them to learn that giving back is really important – even a way of life.

Currumbin-based photographer Amy Neeson also shares her incredible battles.  She has two teens; her eldest Billy is intellectually impaired and autistic, which creates huge challenges in her family. Her daughter Tahlia, whom she home-schools, was born with four holes in her heart. Her husband, Mark, has been through two open heart surgeries, a hernia operation, melanoma, a shattered heel and a flesh-eating amoeba. Amy now sees the value of insurance, and wishes that they’d taken out comprehensive cover when they were all healthy.

From surviving on Centrelink, to multi-millionaires, there’s something for everyone in Financial Secrets Revealed. For more information about the book and author Amanda Cassar, head to www.amandacassar.com.au

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