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Nov 13, 2023

How can people develop a strong money mindset for lasting financial success?


In this episode, we'll hear from Adam Carroll about an experiment he conducted with his children using real cash in a game of Monopoly. This experience inspired his TED Talk called 'The Abstraction of Money' and allowed his children to learn valuable lessons about money and how it works. Learn more about the 401k plan they set up, goal setting for college-aged kids, liquidity strategies, and alternative investments.


With Adam's insight, you will gain an understanding of income stability, monthly expenses, and different economic cycles. Tune in now for this engaging conversation on how to look at investing and money management!



[00:01 - 06:43] The Money Mindset

• Adam breaks down the concept of money abstraction

  • An experiment by playing a game of Monopoly with real cash

• How Adam's kids learned valuable lessons about money

  • How the Shred method changed the way his kids played Monopoly



[06:44 - 13:23] Teaching Kids Financial Responsibility

• How to create an allowance, invest, and build an emergency fund

• Put money in your kid's hands and have them make money decisions from an early age

• The goal of having a massive bank account (MBA) before college

• The difference between available and accessible money.


[13:24 - 20:40] Closing Segment

• Liquidity is a concern for financial advisors when investing in real estate syndications

• With the Shred Method, monthly expenses tend to trend down

• Syndications may be slower in maturing and exiting right now



Connect with Adam:


LinkedIn: Adam Carroll

Instagram: @The.ShredMethod

YouTube: Adam Carroll Speaker



Key Quotes:


"To every season, there is probably an investment." - Adam Carroll





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