In this episode, the speakers dive deep into the topic of instilling a strong work ethic in children and how it can benefit their future success in business and real estate.
Join us as we sit down with a multifamily coach who shares their expert insights and personal experiences on how parents and guardians can encourage children to develop a positive mindset towards work and responsibility.
From setting clear expectations to offering positive reinforcement, this video offers practical tips and strategies for building work ethic in kids.
Whether you’re a parent, guardian, or simply interested in helping children reach their full potential, this video is a must-watch.
Transcript:
Chris Bounds 00:00
You got six kids work ethic was brought up is a part of the legacy equation when it comes to family. I’m curious on how you grew up in kind of an entrepreneur family in the restaurant industry now in multifamily coaching, how our or how have you approached building work ethic with your kids to ensure that they’ve got the skills needed to also like, do what you’ve done, build wealth and build a legacy.
Gino Barbaro 00:31
I think the first thing that as parents Our job is to create a safe, happy, healthy environment. That’s the first thing. I think the next thing is you want to make your children as they grow older, give them the power to empower them to make the right decisions. My oldest child, she’s 23 years old. She’s not into building wealth right now. She’s a Catholic missionary. So she went she went on her own route. My son is 20 years old. He’s going to be a senior next year in college. He’s actually switched to accounting he’s in invested in a few of our deals. So for him, it’s a natural inclination for to become an investor, we homeschool our kids. So we basically teach them what we want to teach them. And it’s worked really well for us. And every conversation we have, it’s about entrepreneurism. It’s about business. And I blend the business with the family.
If you see behind me, those two kids books, we write kids books with our kids to sell out to the public. And it’s about responsibilities about long term ism. It’s about creative caterpillar and responsible Rhino going out there and doing those things, through stories. And we actually have our kids in our videos as well. So it’s, for us daily life and business life, to me is merged beautifully. Where there was at the restaurant where my kids would work come and work at the restaurant, they’d see dad work in the kitchen, some of them will be working up front with grandma. And then it’s just into the Jake and Gino where they’ve been able to come to all of our events, they’ve they’re part of our content, they know our students. And for me, it’s been a great blend.
And unfortunately, we’ve been taught this lie that The Four Hour Workweek, you know, you know, work when you want to, you really need to grind it out. And Chris, the really, I’ll tell everyone a secret here. When you finally figure out work and becoming really good at something. You don’t really want to stop working because it doesn’t become work anymore. I love doing this stuff. I love teaching. I love being a mentor. I love doing deals. Why would I stop now? It doesn’t make any sense. I worked so hard to get to this point. Now maybe I might not do some of the projects, or I might not pick some of this stuff. But I enjoy it. I’m doing so much. And you know, to answer your question to come full circle. And your question I want to be a role model is my kids I want my kids to see that work can be a lot of fun, work can be empowering.
Work is necessary to be have a fulfilling life, you just need to figure out what your sole purpose is my daughter, 23 year old 23 years old, her sole purpose may be just to want to be a missionary for the next couple of years and then figure out her next iteration. My son, it seems as if he loves numbers, and he loves investing and he loves doing real estate, we’ll see what happens with that my daughter, she’s a senior in high school, she’s got to take that next step and I’m battling with her right now. She doesn’t want to go to college, I’m like, you need to do something, I want you to go to college, figure out your vacation. And then there’s things in life when you don’t want to do it. As an adult, you’re gonna have a lot of those days, this is just the first start of becoming an adult do something that you don’t want to do.
Chris Bounds 03:17
We can end up with this. I mentioned this earlier with Bill Allen. And it’s something I’ve thought about a lot before. I don’t know if you’ve ever thought about this. So I’m sure you have thought about hey, wouldn’t it be really cool to have really gotten to know who your great great, great, great grandfather was grandmother, whatever. It would be cool to actually read a book that they wrote about their lives or watch a video where your fifth 10th generation Seventh Generation down the line, they will get to do that about you. And it’s like this has never happened in human history before. So is it we’re we’re in like this unique position to create the content through our work, have that ripple effect and be actually accessible to other generations? With that thought in mind, is it how does that resonate with what you’re doing now? Or how you’re shaping your legacy for for those in the family? They’re gonna look actually not even in the family, just people who are gonna look back and say,
Gino Barbaro 04:22
Who’s this Gino guy? It’s empowering to think about I’ve created something called a personal finance Academy to teach young adults about this and I hope that my grandkids and great grandkids will be watching that stuff and going that’s still pretty relevant stuff as what skills do you need? What habits do you need? What is money all about? And I’m also setting my life up also where I’m creating your revocable trusts for my for the next generations. I want to be Rockefeller I don’t want to be a Carnegie Alright, I want to live that I want to live that the ability the ability to continue to fund future generations and say, you know, grandpa was pretty cool, but I want the kids to be able to read like, like your other guests, said Richard. Dad Poor Dad Secrets of the Millionaire Mind all those books that affected me and to be able to say Hey grandpa was there he left all this money he created this amazing legacy and I want to be able to continue to pass that on