Episode 027 - Parenting with Emotional Intelligence and an Investment Mindset

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By Steve Valentine and Bernie Espinosa, Steve Valentine, and Bernie Espinosa. Discovered by Player FM and our community — copyright is owned by the publisher, not Player FM, and audio is streamed directly from their servers. Hit the Subscribe button to track updates in Player FM, or paste the feed URL into other podcast apps.

We’re continuing our series about smart parenting with an investment mindset. This week we are talking about keeping a mind to the future. We all want a future that’s best for our kids and the whole point of invested parenting is hopefully instilling the lessons they need to make good decisions for their own future. What can we do to help them make those decisions well?

Emotional Intelligence

Leaving high school and moving into adulthood is terrifying and exciting all at the same time. Up until then, there has always been a safety net in every decision that they made, then suddenly they’re expected to make adult decisions with real consequences. How can we prepare them for this?

It takes emotional intelligence as parents to allow them to explore their options without undue judgement. Steve and his son Chase explored the idea of building cars together until Chase decided that maybe he wasn’t driven enough for the work involved. It was important to Steve to let Chase steer his own interest and ride shotgun where he could let Chase make that decision for himself.

“The relationships with your kids are extremely important. Keep an open dialogue with them, don’t chastise them too hard for certain things, and let that relationship be organic. Find the common place where you can be friend and parent and not one over the other.” – Steve

Investment Mindset

When our kids do strike out on their own, there are still things we can do as parents to help support them in whatever path they take. We’ve spoken before about using Real Estate to help finance those future decisions, not only financially for college but wherever they decide to land. Working on your own investment mindset can help your kids realize the importance of thinking with an eye to the future themselves.

Working for a living is an easy lesson to learn but investing for the future can be hard for a kid to grasp even at a post-high school/college level. Setting those habits early is key. When they move out of the nest, investing in a place for them to land and giving them a stake in that investment can help put them into the right mindset. It can be a way of keeping that connection with your kids but also letting them grow on their own and keep making those right decisions. Pass on that Thinking OTB mindset to your kids that the world can be richer for them than they ever thought possible.

“As a parent, whether you're in real estate or not, exposing your kids to the potential of investing in assets or investing with them to create a business, that's the structure that I'm teaching these current clients.” – Steve

Quotes:

“Had I not been part of those crazy experiences? I wouldn't have seen them. And I think that's the important part of finding a good mentor in the real estate business is so that you do get to experience what's happening.” - Steve

“I think it's super smart to take some time to figure out where you want to place your time and energy. The reality is that you can do a lot of things without going to school, right? So, I love the idea of a young adult getting to kind of decide a path that they want to go down while communicating that with their parents, you know, the people who are helping them become a better adult.” – Bernie

“When you put yourself in the shoes of the parent whether you agree with or don't agree with how they're handling something, that's coming from a place of caring and concern, they just might not know how to execute or express that positively. I think it takes a lot of emotional intelligence to parent well.” - Bernie

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51 episodes