In this installment of the Stuff About Money podcast, Erik Garcia, CFP®, BFA, and Xavier Angel, CFP®, ChFC, CLTC, are joined by TikTok sensation Daniel Seong to discuss growing wealth from nothing and how to be role models for your kids and others around you.
They chat about the importance of “operating with the end in mind” instead of getting lost in the process, and how Daniel’s teaching his kids healthy spending habits.
- Daniel discusses the struggles and insecurities he encountered as a child and how he overcame them. (7:46)
- Daniel shares how his wife helped him understand that he needed to believe in himself again and be laser-focused on what he wanted to achieve. (11:48)
- Daniel believes that success begins at home and that it is not taught at school, just like finances. (18:59)
- Daniel shares that when his children were around 7 years old, he started an Excel spreadsheet that tracked their money going in and out, much like a bank account, which got them thinking about the worth of a dollar. (21:46)
- Daniel explains how he avoids depriving his children of the chance to learn things that can only be learned through adversity. (25:30)
- Erik shares why modeling behaviors is important for children. (27:30)
- Daniel explains that the daily discipline of just showing up is what got him over his past struggles. (35:31)
- Daniel mentions one thing about money that he wishes he had known 20 years ago. (37:42)
- In the bonus segment, Daniel shares a few important tips and standards to follow when purchasing auto insurance. (43:30)
- “Success really does start from the home and they don’t teach that in school just the same as finances.” – Daniel Seong
- “Patience is a skill and you have to learn it.” – Daniel Seong
- “I am never the smartest person in the room, right? But what really got me through is the daily discipline, the daily discipline of just showing up. Fifty percent of winning is simply just showing up.” – Daniel Seong