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September 7, 2020

Money Smart Kids: Raising Children to Understand Financial Independence – with Doug Nordman and Carol Pittner

Carol Pittner and Doug Nordman

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Do you want to raise money-smart kids? I'd venture to guess a lot of us parents want to, but we're not quite sure where to start.

Doug Nordman focused on simple and practical lessons as a parent and now at 28, his daughter, Carol Pittner, is just a shade away from financial independence. On the podcast, I interview both Doug and Carol to learn about the money-smart kid lessons that were taught, how investing played a role early on, and their new book, Raising Money Savvy Kids for Next Generation Financial Independence.

They also help me answer a listener question from a financial independence enthusiast who wants to help her kids realize FIRE in the future as well. Here's the listener's (Amanda) question:

“I’ve recently found FIRE and my husband and I are pursuing it full-on. We’d love to help our kids (4 and 8) plan for a life of financial independence too. Any parenting money tips to help us get started?”

Listen to what Doug and Carol had to say to Amanda to help her raise money-smart kids.

What are we covering?

Doug, Carol and I review the following:

  • Money lessons you can teach a 4-year old and 8-year old
  • When a kid is ready for an allowance
  • How to get a child interested in investing

For those of you who have been long time listeners, you may remember that we interviewed Doug in 2019 about how he helped his daughter invest with a Roth IRA in her teens. Check out that episode and enjoy this one too!


Guest Bio – Doug Nordman

Doug Nordman served for 20 years of active duty in the U.S. Navy’s submarine force and retired in 2002 at the age of 41. He and his spouse, a retired Navy Reservist, reached financial independence in the late 1990s on a high savings rate. They’ve lived in Hawaii for over 30 years, and their daughter Carol was born & raised on Oahu. These days Doug enjoys surfing, slow travel, writing, public speaking, reading, home improvement, personal-finance conferences, and more surfing.

He’s the author of “The Military Guide To Financial Independence And Retirement” and founder of He donates all of his writing and speaking revenue to military-friendly charities.

Guest Bio – Carol Pittner

Carol Pittner joined the Navy on an ROTC scholarship. She’s been stationed around the world on a destroyer and an aircraft carrier before moving to the Reserves. She and her active-duty Navy spouse are rapidly approaching financial independence on a high savings rate, and they’ve just started their own family!

Military personal finance is an important family topic… almost as important as surfing.

Doug Nordman & Carol Pittner Resources

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““Making the decision to have a child — it’s momentous. It is to decide forever to have your heart go walking outside your body.”

 Elizabeth Stone

How are you raising money smart kids? What lessons do you feel are most important?

Please let us know in the comments below.

Doug Nordman and Carol Pittner

Andy Hill

Andy Hill is the award-winning family finance coach behind Marriage Kids and Money - a platform dedicated to helping young families build wealth and happiness. With millions of podcast downloads and video views, Andy’s message of family financial empowerment has resonated with listeners, readers and viewers across the world. When he's not "talking money", Andy enjoys being a Soccer Dad, singing karaoke with his wife and watching Marvel movies.

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Marriage Kids and Money Podcast

About Marriage Kids & Money

The Marriage Kids and Money Podcast is dedicated to helping young families build wealth and happiness.

With over 400 episodes and counting, we share interviews with wealthy families, award-winning authors, and personal finance experts to help you find your version of family financial independence.

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