Moneywise

Latest Episodes:

How to Not Ruin Your Kids with Your Wealth ft. Dr. Becky Aug 20, 2024

Show notes

Worried that your wealth might turn your kids into spoiled, unmotivated adults?

Dr. Becky’s here to show us how to raise resilient, grounded kids even when money isn’t an issue.

She’s the force behind "Good Inside", often called the "millennial parent whisperer." With a clinical psychology background, and her own experience parenting young kids while founding a rapidly growing successful business, she’s full of valuable insights on how to raise kids in a wealthy environment without them becoming spoiled and entitled.

In this episode, Dr. Becky explains why it's crucial for kids to experience challenges, even when you can afford to remove obstacles, and why you too need to do more hard things. She provides actionable tips on setting boundaries, managing a demanding career while being present for your family, and encouraging internal motivation. We also explore how your behavior and energy as a parent shape your children's growth and resilience.

This is Moneywise, a podcast where host Sam Parr is joined by high-net-worth guests to explore exclusive insights into personal finance and lifestyle tailored for other high-net-worth people, or those on their way. They'll get radically transparent about the numbers, revealing things like their burn rates, portfolios, and spending habits.

Who is Sam Parr?

Sam is a serial entrepreneur and the co-founder of The Hustle, which he sold to HubSpot in 2021. He's also the co-host of one of the world's top podcasts for entrepreneurs, My First Million. Known for his insightful business acumen and candid communication style, Sam Parr continues to be a prominent figure in the world of media and entrepreneurship. Sam's newest and biggest venture yet is Hampton, which he co-founded in 2022.

This podcast was made for the Hampton community, a private, highly-vetted, peer membership community for founders and CEOs of fast-growing, tech-enabled startups.

Chapters:

Dr. Becky's Journey and Good Inside (02:41)

Balancing Business and Family Life (07:57)

Teaching Kids Resilience and Handling Frustration (13:04)

Self-Improvement and Parenting (21:57)

Small Steps for Big Changes (23:09)

Managing Anxiety and Productivity (24:23)

Balancing Family Time (25:50)

Teaching Financial Responsibility (28:41)

Legacy and Parenting Philosophy (33:36)

Good Inside App (36:45)

This podcast was produced in partnership with Lower Street and distributed by Morning Brew.

What It’s Like to Lose 95% of Your Net Worth Overnight Aug 13, 2024

Show notes

Imagine waking up one day to find nearly everything you've worked for is gone.

Today’s guest, Domenic, lived through that nightmare.

His story begins at Facebook, where he was one of the early employees during the dawn of the social media era. He wisely took as much equity as possible, which paid off handsomely when the company went public. Despite his newfound wealth, a series of unfortunate decisions—risky investments, a poorly negotiated acquisition, and unforeseen personal losses—led him to lose nearly everything he had earned.

Domenic’s tale is not just about loss but about resilience. From growing up in a modest household in Southern Virginia to navigating the high-stakes world of Silicon Valley, he shares his experiences of building wealth, facing devastating setbacks, and the philosophy that keeps him moving forward.

Who is Sam Parr?

This podcast was made for the Hampton community, a private, highly-vetted, peer membership community for founders and CEOs of fast-growing, tech-enabled startups.

Chapters:

Early Facebook Employee (0:29)

The Facebook IPO and Domenic’s Net Worth Impact (12:53)

Life After Facebook: Investments and Mistakes (17:29)

Losing It All in a Bad Acquisition Deal (24:46)

Rebuilding from Scratch (31:55)

Final Thoughts and Takeaways (38:50)

This podcast was produced in partnership with Lower Street and distributed by Morning Brew.

When Do You Tell Your Date You're Rich? Aug 06, 2024

Show notes

Dating is already weird and vulnerable, but when you’re wealthy, talking finances can feel like dropping a bombshell.

In this episode, we explore the complexities of dating with significant wealth and how to handle the inevitable conversations about money.

Today's guest, who we'll call Alex, is worth around $133 million. His journey to wealth began with a company he founded with his now ex-wife, and he’s here to share his experiences on navigating the dating world post-divorce.

Alex started his entrepreneurial journey with multiple failed ventures before hitting success with his third company, which he co-founded with his ex-wife. After a difficult and non-amicable divorce, which involved complex asset division, Alex found himself back on the dating scene.

In this episode, Alex opens up about the unique anxieties of dating with a substantial net worth. He discusses how he avoids flaunting his wealth to prevent attracting the wrong kind of attention. We delve into the challenges of sharing financial details with new partners and the importance of finding someone who shares similar lifestyle values. Alex also shares practical advice on how to approach the conversation about money with transparency and integrity, and his personal experiences in navigating these waters.

Who is Sam Parr?

This podcast was made for the Hampton community, a private, highly-vetted, peer membership community for founders and CEOs of fast-growing, tech-enabled startups.

Chapters:

Meet Alex (02:02)

Alex's Modest Lifestyle and Financial Transparency (04:15)

Navigating Relationships with Wealth (06:54)

Alex's Approach to Dating (11:06)

Power Imbalance and Financial Compatibility (18:50)

Final Thoughts and Advice (26:17)

This podcast was produced in partnership with Lower Street and distributed by Morning Brew.

Be Careful Who You Choose to Spend the Rest of Your Money With Jul 30, 2024

Show notes

Falling in love, getting married and spending the rest of your life together with someone can be one of the most magical things in the world. But when the matter of money gets involved, things can get well… complicated.

What was once a dream can very quickly become a nightmare and reveal something much more sinister. Which is what Jennifer experienced first-hand.

At the start of their marriage, Jennifer and her husband were on the same page on everything. Everything except how they were going to share their money.

In this episode, Jennifer shares the journey of their relationship and how things took a turn for the worse, and how amidst the calamity she figured out how not to lose everything. Money may not be everything, but it sure as hell makes a difference who you share it with.

Who is Sam Parr?

This podcast was made for the Hampton community, a private, highly-vetted, peer membership community for founders and CEOs of fast-growing, tech-enabled startups.

Chapters:

Introducing Jennifer's Story (01:06)

Jennifer's Financial Journey (03:09)

The Relationship and Financial Dynamics (04:45)

The Turning Point: Infidelity and Divorce (18:54)

Navigating the Divorce Settlement (20:36)

Life After Divorce: Jennifer's New Beginning (26:34)

Final Thoughts and Advice (30:25)

This podcast was produced in partnership with Lower Street and distributed by Morning Brew.

How Much Money Ankur Nagpal Needs to be Happy for Life Jul 23, 2024

Show notes

How much money do you need to be happy?

Money alone is not going to make you a happy person, but it can sure as hell help you get there. Money can buy you security, time, health, and safety for you and your loved ones, and it can relieve stress when it comes to life's financial pressures.

To say that money can't impact your happiness is naive. But what we want to know is, when is enough, enough?

If you don't know that number, you can easily slip into the hole of always needing and wanting more, which inevitably takes away from your happiness. At a certain point, you start wasting your time and adding stress to your life in the never-ending pursuit of more.

So what is the threshold when it's time to end the chase and simply enjoy the life you've built for yourself?

In this episode, Ankur Nagpal shared his number. Ankur Nagpal is in his early thirties with a net worth north of nine figures. He started raking in money in college with his Facebook App business, but his real life-changing moment was when he sold his company Teachable for a quarter billion dollars. Now, he's the founder of fintech company Carry, formerly known as Ocho.

Ankur will tell us about the financial decisions he made that contributed to his happiness, the mistakes he made, and he's radically transparent about the numbers while he does so.

Sam will also share his own "happiness threshold" number, and we'll also get input from another guy who rakes in over $10 million a year.

This is MoneyWise, a podcast where host Sam Parr is joined by high-net-worth guests to explore exclusive insights into personal finance and lifestyle tailored for other high-net-worth people, or those on their way. They'll get radically transparent about the numbers, revealing things like their burn rates, portfolios, and spending habits.

Who is Sam Parr?

This podcast was made for the Hampton community, a private, highly-vetted, peer membership community for founders and CEOs of fast-growing, tech-enabled startups.

Chapters:

Who is Ankur Nagpal (2:37)

Why we're asking "When is enough, enough?" (4:15)

Ankur's first multimillion-dollar venture (6:19)

How he built and sold Teachable (7:59)

How his life changed after selling Teachable (10:38)

Ankur's burn rate after a $40 million check (15:22)

Why not working didn't make him happy (16:15)

Ankur's cost of living (18:12)

Ankur's "Happiness Threshold" number (21:40)

Sam's "Happiness Threshold" number and closing thoughts (24:05)

This podcast was produced in partnership with Lower Street and distributed by Morning Brew.

From $175K to Over $100M: Anne Mahlum’s Journey of All-In Bets and Astonishing Success Jul 16, 2024

Show notes

Confidence is key, but confidence is earned.

And Anne Mahlum has earned hers.

She has dedicated her life to self-improvement and continuous learning. Because of that, combined with her insanely positive attitude, she’s built a networth of well over $100M.

Her confidence in herself is evident. In fact, she once turned down a significant investment into her start-up in favor of using her entire personal net worth instead.

In this episode, Anne reveals the origins of her drive and how it has evolved into a healthier motivation. She shares the stories of her nonprofit and for-profit ventures, complete with detailed financial insights. And Anne also opens up about her personal spending and investments, challenging the conventional wisdom of the “don’t spend your principal” rule.

Who is Sam Parr?

This podcast was made for the Hampton community, a private, highly-vetted, peer membership community for founders and CEOs of fast-growing, tech-enabled startups.

Chapters:

Founding SolidCore and Early Success (00:28 )

Ann's Upbringing and Family Dynamics (02:41)

The Impact of Addiction on Ann's Life (06:01)

Creating Back on My Feet (07:45)

Launching SolidCore (14:05)

Financial Growth and Private Equity (18:45)

The Power of Investing: Personal Experiences (27:40)

Diversifying Investments: Strategies and Insights (29:08)

Real Estate Ventures: Success Stories (30:43)

Spending Habits: Evolution and Philosophy (38:46)

Mindset and Confidence: Keys to Success (46:23)

This podcast was produced in partnership with Lower Street and distributed by Morning Brew.

It’s Easy to Spend but Hard to Spend Well Jul 09, 2024

Show notes

Getting rich at any age is pretty cool. But being rich in your late teens and early 20s? Of course, that’s awesome, but it can be difficult to navigate wealth when you’re basically still a kid.

That was the case for my buddy, Andrew Wilkinson. He invested in and sold a few tech companies early on and thought he was set for life. He bought whatever he wanted. But he had a serious wake-up call in 2008 when the stock market crashed and he almost lost everything.

In this episode, Andrew shares a number of his wins and losses; from almost going bankrupt to crossing the nine-figure threshold. Being able to buy whatever you want, go wherever you want and do whatever you want is great. But so is spending your money on things that can make a difference for others. Andrew also tells us how wealth can have its downsides for families and friendships.

Who is Sam Parr?

This podcast was made for the Hampton community, a private, highly-vetted, peer membership community for founders and CEOs of fast-growing, tech-enabled startups.

Chapters:

Andrew’s Wealth Journey (03:28)

First Taste of Liquidity (06:44)

The 2008 Wake-Up Call (09:28)

Crossing 9 Figures and Luxury Spending (14:38)

The Downsides of Wealth (19:23)

The Pros and Cons of Donating and Charity (23:34)

Final Reflections (27:51)

This podcast was produced in partnership with Lower Street and distributed by Morning Brew.

What Are You Willing to Sacrifice to be Wealthy? with Scott Galloway Jul 02, 2024

Show notes

Young people these days talk about wanting balance in their lives.

Well according to Scott Galloway, that means you don’t want to be rich.

Building wealth is no easy feat. It requires determination, hard work and sacrifice. But luck plays a huge role too.

Scott shares stories with us that he’s rarely talked about publicly. He dives into the strategies that helped him build his fortune. He’s also got loads of lessons learned from his biggest failures. He went from being worth around 30 million to a negative net worth during the dot com crash. He clawed his way back over the next few years to over 10 million or so, only to lose it all again. He tells us what those failures and successes were like for his mental health, and what it taught him about keeping his ego in check.

Scott thinks it’s important to talk about money even when it makes you feel like a douchebag. Not talking about money keeps the poor down. He shares his key tips and advice for diversification and why it’s so important in building wealth.

Who is Sam Parr?

This podcast was made for the Hampton community, a private, highly-vetted, peer membership community for founders and CEOs of fast-growing, tech-enabled startups.

Chapters:

Scott’s Background (03:36)

Early Success and Sacrifice (06:24)

The Power of Luck, Diversification and Failure (10:29)

Strategy and Entrepreneurship (19:42)

The Hoarding Money Virus of America (26:46)

Why Talking About Money is Important (32:25)

Final Thoughts and Advice (40:57)

This podcast was produced in partnership with Lower Streetand distributed by Morning Brew.

From $500K Personal Monthly Cash Flow to a $26M Exit Jun 25, 2024

Show notes

Why would you give up $500k/month personal cash flow?

Despite his company's rapid profit growth, Marshall Haas chose to forgo his substantial income for mental space and a $26M exit.

Before considering selling his main company, Marshall had already begun offloading smaller businesses.

In this episode, recorded just weeks after his major exit, Marshall provides a fresh perspective on the exit process, the differences in selling larger versus smaller companies, and his reasons for selling despite exponential growth. We also delve into the mental shift from enjoying a steady monthly cash flow to receiving a massive lump sum.

Who is Sam Parr?

This podcast was made for the Hampton community, a private, highly-vetted, peer membership community for founders and CEOs of fast-growing, tech-enabled startups.

Chapters:

Marshall's Background and Early Ventures (03:29)

The Beginning of Shepherd (10:58)

Why Marshall Decided to Sell Shepard (13:15)

Life After the Exit (21:36)

Marshall's Spending and Finances (24:35)

Final Thoughts and Advice (30:54)

This podcast was produced in partnership with Lower Street and distributed by Morning Brew.

Why Someone Worth $120M Cut Themselves Off From Making More Money May 14, 2024

Show notes

Remember when Andrew Carnegie wrote that he was removing the pursuit of money from his life?

Probably not, because he didn’t follow through on it. This was even before he founded the Carnegie Steel Corporation and became one of the richest people in the world.

Today’s guest, however, also decided to cut himself off from earning more. And he followed through.

By the time Jeff was in his forties, he was worth over $120 million. After a three-part exit from his company, Jeff decided that pursuing more money was getting in the way of his pursuit of happiness. So he quit building companies, he quit working, and he founded a support group of others in similar life stages.

For Jeff, chasing money had become like an addiction, so he treated it that way. He made big changes in his life to focus on what truly made him happy. But, this “cut-off” from earning more does not coincide with spending less. In fact… it’s quite the opposite.

In this episode of Moneywise, we'll learn about how Jeff realized he had enough, how his pursuit of more was getting in the way of enjoying what he built, and why he thinks it's his duty to spend his money. And of course, we'll also get into all the details about how much he has, where all that money is, and how he spends it.

Who is Sam Parr?

This podcast was made for the Hampton community, a private, highly-vetted, peer membership community for founders and CEOs of fast-growing, tech-enabled startups.

Chapters:

Jeff’s first few million (3:21)

When he started the big company (5:58)

His three-part exit (9:51)

How his life changed (11:27)

Why he started to think about cutting himself off (16:13)

How he changed his life (20:12)

Where is his money and his spending today (24:22)

Reflection and advice (29:54)

This podcast was produced in partnership with Lower Streetand distributed by Morning Brew.