At 16 years old, Michael wanted a vintage Marshall guitar amp. He had the money, but his dad (Gino) had a different idea: take 40% of his net worth and put it into a real estate deal.
In this episode, Gino and Michael Barbaro revisit that pivotal moment. Michael shares the anger he felt seeing his bank account drop to nearly zero, and the realization that followed when the monthly checks started rolling in. They discuss why "skin in the game" is the best teacher, how to use peer influence for good, and a simple framework for parents to teach their kids about money without being overbearing.
We also break down simple financial concepts like Gross vs. Net Income using a farm analogy (eggs and honey!) to make it relatable for kids.
Key Takeaways:
✅ The Marshall Amp Story: The battle between immediate gratification (buying a toy) vs. delayed gratification (investing for cash flow).
✅ Peer Influence: Why kids often listen to outside mentors more than their own parents, and how to use that to your advantage.
✅ Skin in the Game: Michael explains why losing money or seeing a bank balance drop teaches you more than any book ever could.
✅ The "Why" Matters: Smart people have answers; wise people ask the right questions. How Michael’s questions about the investment led to better KPIs for the business.
Let's Connect!
Question of the Day: What is one purchase you made as a teenager that you wish you had invested instead? Let us know in the comments below! 👇