Today we're thrilled to welcome Joline Godfrey, a financial parenting expert, clinical social worker, and author with over 30 years working directly with affluent families. Her question: how do you raise a financially capable kid when you can afford to solve every problem for them?
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Key Topics Covered
• Why the ability to give your kids everything is also the biggest obstacle to raising capable adults, and what Joline calls the "paradox of wealth"
• The invisible allowance: the unacknowledged sum most HNW families spend subsidizing their kids' lifestyle without ever naming it — and why that gap becomes a serious problem the moment the subsidy stops
• Why structuring an allowance around what you approve of versus what you don't is quietly killing your child's decision-making practice
• The reframe from "allowance" to "practice money" — and what changes when kids understand they are learning to manage capital, not just spending pocket change
• The FISH framework — Financial, Intellectual, Social and Human capital — and which of the four most affluent parents are systematically under-developing in their children
• How a 12-year-old built a real coloring book business on Amazon, learned margin differences between online and door-to-door sales, and what her parents still got wrong
• What Joline tells families who want to subsidize their adult children indefinitely, and the story of the client who asked for financial education at 60
Valuable Links
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• Connect with Joline Godfrey: https://www.bounce-ten.com
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Long Angle is a private, vetted global community of accomplished entrepreneurs, executives and professionals who have reached meaningful financial milestones and want to navigate wealth with peers who understand their challenges, opportunities, responsibilities and ambitions.
Hosted by the founders of the Long Angle community, Navigating Wealth explores how experienced investors, founders and operators actually approach the real questions wealth creates — from private markets and capital allocation to business exits and life design.
