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How Do You Teach Your Kids to Be Financially Successful?

We talk all the time about how to become more successful financially, in business, and in life. We obsess over passive income, cash flow, investing strategies, and building freedom for ourselves. But there’s a bigger question that doesn’t get asked nearly enough: How do we teach our kids to do the same?

As a parent, this one hits close to home for me. I teach money for a living, and yet I still struggle sometimes to get these lessons to land with my own kids. After all, I’m just “dad.” I’m the guy with the dad jokes. That’s exactly why I was excited to bring Bill Allen on the Money Ripples Podcast.

Bill is the founder of Seven Figure Flipping, host of the Seven Figure Flipping Podcast, and creator of a program called Teenage Tycoon and what he’s built for kids and teens is something I genuinely wish existed when I was younger.

Bill Allen’s Path to Real Wealth

Bill didn’t start out as an entrepreneur. He spent 20 years in the military as a Navy pilot, saving diligently, investing in his TSP (the military’s version of a 401(k)), and doing everything “right” according to the traditional financial playbook.

Then real estate changed everything.

His first flip made around $43,000 nearly half his military salary at the time. That single deal opened his eyes to what was possible. He didn’t quit his job overnight. He scaled responsibly. Over time, he went from flipping one or two houses to running a business that completed dozens and eventually hundreds of deals per year.

What I appreciate about Bill is that he doesn’t sell fantasy. He’s very clear: Building wealth isn’t easy but it can be simple.

Active Income vs. Passive Income (A Lesson Most Kids Never Learn)

One of the most important parts of our conversation was Bill’s explanation of active vs. passive income.

There are only a few ways money is created:

• Skill + time

• Skill + time + money

• Money alone

If you’re not exchanging something time, energy, money, or expertise you’re not investing.

You’re gambling.

This is where so many people (and kids) get confused. Rental properties aren’t truly passive. Businesses aren’t passive. Even investments that produce income usually require years of active effort upfront. That’s not a bad thing it’s just reality.

And this is exactly the kind of clarity kids need early on.

Why Parents Struggle to Teach Their Own Kids About Money

Bill said something that every parent will recognize immediately:

“It’s really hard to be a prophet in your own town.”

Kids don’t always listen to mom and dad even when we’re right. But they are watching. They’re paying attention. And often, they’ll listen to the same advice when it comes from someone else.

That’s where Teenage Tycoon comes in.

What Is Teenage Tycoon?

Teenage Tycoon is a business and financial education program designed for kids roughly in 6th through 12th grade (with flexibility for younger, mature kids). It’s structured more like a homeschool co-op focused on money, business, and personal development.

Here’s what makes it different:

• A monthly book club (11 books per year)

• Weekly Zoom calls

• Guest experts teaching real-world skills like:

• Entrepreneurship

• Real estate

• Marketing and sales

• E-commerce

• Crypto and investing

• Mindset and leadership

• Access to high-level speakers and authors

• A safe, closed community where kids learn professional tools (like Slack)

This isn’t theory. These kids are doing real things.

Real Results from Real Kids

During the episode, Bill shared examples that honestly blew me away:

• Teens flipping houses alongside their parents

• Kids running eBay businesses from garage and estate sales

• Teens reselling soccer jerseys at 50% margins

• Kids building 3D printing businesses and selling at farmers markets

• A 16-year-old flipping high-end watches and making serious money

These aren’t hypothetical case studies. These are kids learning how money actually works by using it.

More importantly, they’re learning:

• How to reinvest profits

• How to manage cash flow

• How to think like business owners

• How to delay gratification

These are life skills most adults never fully develop.

Why This Matters More Than College Savings

Here’s the part I really want you to hear.

Most parents stress endlessly about paying for college. But what if instead of just saving for tuition, we taught our kids how to pay for their own future?

Teenage Tycoon isn’t anti-college. Bill himself has advanced engineering degrees. This is about options. It’s about giving kids confidence, skills, and awareness so they can make intentional choices instead of default ones.

With AI changing careers, automation replacing jobs, and traditional paths becoming less reliable, this kind of education isn’t optional anymore it’s essential.

A Legacy Bigger Than Money

At the end of the day, this conversation wasn’t just about real estate or business. It was about legacy.

What do we pass on to our kids besides money?

How do we prepare them for a world that’s changing faster than ever?

How do we teach them to think, not just follow instructions?

That’s why I was so excited to have Bill on the show and why I genuinely believe programs like this can change family trajectories for generations.

You can listen to podcasts all day long. But nothing changes until you do something with what you learn.

So the real question is this: What are you doing today to help your kids build a better tomorrow?

Make it a prosperous week and an even more prosperous life.