A weekly podcast for parents who want to guide their kids on the path to financial independence and extraordinary lives
Ep. 53 – Raising Money-Smart Kids: Life Lessons from Rich by Choice with author Dr. Nicholas Michels
In this episode of FI for Kids, host Dominic DeLaquil talks with Dr. Nicholas Michels, author of Rich by Choice, about how parents can raise financially independent kids by teaching real-world money lessons early.
Dr. Michels shares powerful stories from his own childhood — from overcoming financial hardship to learning the value of resilience, mentorship, and aligning money with personal values. Together, they explore how parents can model good financial habits, turn daily moments into money lessons, and help their children see money as a tool for freedom and experiences, not stress or status.
💬 In This Episode:
· How to teach kids about money through open, real conversations
· Why resilience and self-awareness matter more than wealth
· The power of compounding beyond money — in habits, learning, and growth
· How mentorship and family influence shape kids’ financial mindset
· Practical steps to help kids start their path to financial independence
.Episode links:
Sponsor: https://www.travelmultiplier.com/
Join us for wide-ranging conversations about teaching kids the habits and skills they need to reach financial independence and retire early. Combining basic financial smarts with self-knowledge, guide your kids on the path to crafting lives that bring them deep fulfillment and joy.
We bring you insightful interviews with financial experts, parents, behavioral experts, kids, and those that have achieved F.I. (financial independence) in their 30s, 40s, and 50s simply by working regular jobs, being smart with their money, and prioritizing the things in life that they value most.