Q&A: How Can I Teach My Children Financial Intelligence? – Episode 1023

How can you teach your children financial intelligence? What are the best resources you can arm yourself with in order to pass down important lessons about money? That’s the first question I’m answering on this Q&A episode of Investing in Real Estate!

This episode features three of your great questions about financial education resources, minimizing high taxes, and deciding what to do with a highly appreciated property with low cash flow. Click play to hear my answers to your questions!

On this episode you’ll learn: 

• The best resources for building your financial education.
• How to minimize taxes.
• What to do with a property with low cash flow.

The Best Resources for Building Your Financial Education

Here are a few resources I can recommend:

• My free 90-day Financial Empowerment Bootcamp
• Rich Dad Poor Dad by Robert Kiyosaki
• Tax-Free Wealth by Tom Wheelwright 

How to Minimize Taxes

It’s always a good idea to think about ways to mitigate your tax burden, and the best approach to take, of course, is to meet with your accountant. Consider ways to buy more real estate investments and using cost segregations to offset your taxes.

What to Do With a Property with Low Cash Flow

It’s important to always analyze the health of your portfolio. If your property is not performing, consider fixing it up and talking to your property management to see if you can raise rates. If not, look into a 1031 exchange so you can grow your portfolio ever further while acquiring properties with better cash flow.

Ask Me a Question at morrisinvest.com/clayton

Episode Resources
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DISCLAIMER: I am not a financial adviser. I only express my opinion based on my experience. Your experience may be different. These videos are for educational and inspirational purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. There is no guarantee of gains or losses on investments.

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