I'm So Sick of What Latino Parents Are Doing With Money (And We Need to Talk About It)
About this episode
Jannese Torres discusses the financial habits of Latino parents and how they impact wealth building for future generations.
The Guardian recently featured my plan for how I'm raising my toddler to become a millionaire and it got me fired up about something I've been sitting on for a while. Today I'm calling out the financial patterns that Latino parents normalize that are actually keeping our community from building real wealth. I'm not talking about our elders who came here with nothing and survived on grit. I'm talking to us — the millennial parents with smartphones, podcasts, and investing apps at our fingertips — who still aren't doing enough differently. We'll talk about why spending $20K on a quince but skipping the 529 is a problem, why your child is NOT your retirement plan, and the five mindset shifts that need to happen so we can stop breaking generational cycles and start building generational wealth. This is a tough love episode, mi gente, but I think you're ready for it. WE GET INTO: 00:24 The Guardian feature + Jannese's toddler wealth plan 02:53 Who this episode IS (and isn't) for 04:18 Problem #1: Spending on appearances, skipping financial foundations 06:03 Problem #2: Treating your children like a retirement plan 08:01 Problem #3: Preaching education without a financial plan for it…
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