146 | The One Money Talk Parents Keep Putting Off with Dale Alexander

What if the single most important financial decision of your life happened before you ever built a business, bought a house, or started a family? On this episode of the Vital Wealth Strategies Podcast, host Patrick Lonergan sits down with Dale Alexander, a CFP, national speaker, and author of The Talk About Money, to unpack the framework Dale calls Make 70 Your 100: live on 70% of your income, invest 20%, and give 10%, starting with your very first paycheck. It's a conversation built for entrepreneurs, parents, and anyone who's ever wondered why more income never seems to solve a spending problem.

Together, Patrick and Dale dig into why financial "drift" quietly derails even high-earning households, how social media has rewired the comparison trap for an entire generation, and why 90% of family wealth disappears by the third generation and what entrepreneurs can do to break that cycle with their own kids. Whether you're building generational wealth, coordinating your tax and financial strategy through the Entrepreneur Private Office model, or simply trying to raise financially literate kids in a world of one-click spending, this episode delivers practical, immediately actionable frameworks for making money decisions that compound for decades.

Key Takeaways:

The 70/20/10 framework: live on 70% of income, invest 20%, give 10% and why this beats the popular 50/30/20 budgeting rule

Why increased income rarely solves a spending problem, and how lifestyle creep silently erodes wealth at every income level

The concept of financial "drift" and why intentionality, not willpower alone, is required to stay on course

A two-step method for rebuilding financial margin at any age, even if you didn't start with 70/20/10 from your first paycheck

Why 90% of family wealth is lost by the third generation, and how proactive conversations about money can break that pattern

The psychological and neurological case for giving 10% of income, and how generosity fits into a coordinated wealth strategy

A practical, at-home system for teaching kids financial responsibility before they leave the house

Resources Mentioned:

The Talk About Money Dale Alexander official site