Teaching Kids About Money Before the Internet Does
On the Johnjay Van Es podcast, Walter Clarke shares a powerful mix of financial wisdom, personal grit, and his mission to help families manage wealth with purpose.
Walter’s story starts back in 1995. A well-known car dealer named Lou Grubb had just sold his business for $100 million. But despite his success, Lou felt lost when financial advisors came knocking. That moment hit Walter hard. He realized that even the most successful business owners often don’t understand how to manage wealth. As Walter puts it, “They know everything about their business and nothing about finance.” That insight led him to start educational programs at universities across the country. His goal wasn’t to sell anything, but to teach people how to keep and grow their money.
Walter isn’t just about numbers. He’s also pushed himself physically in ways most of us wouldn’t dare. He’s completed four Ironman triathlons, one just seven months after a full hip replacement. He’s tackled the Cape Epic bike race in South Africa. And he’s training for a 100-mile ultramarathon in Leadville. He believes the mental toughness needed for these challenges also applies to money. When you learn to push through pain and discomfort, you’re also learning how to handle pressure and uncertainty in life and business.
Another major topic in the episode is how to teach kids about money. Walter believes the most important time is from birth to age ten. That’s when kids are curious and open. His book, 401Kid, helps parents guide their children before social media and advertising start shaping their beliefs. He points out that if we don’t teach them, the internet will, and it often sends the wrong message. “The internet is going to tell our kids ‘my life is amazing, yours sucks,’” Walter says. Without solid guidance, kids can fall into a trap of chasing status and debt instead of building confidence and values.
Walter also talks about the power of keeping things simple. In his view, the smartest families avoid flashy investments and stick with steady, long-term plans. “Complexity breeds loss,” he explains. It’s not about what money can buy. It’s about what money can support over time. That’s how you build lasting freedom.
One of the most memorable moments in the episode is when Walter talks about his daughter. She made a few small cuts to her spending and paid off debt. It wasn’t about sacrifice. It actually made her feel stronger and more in control. She told her dad she felt “like a million bucks.” That story brings it all together. Walter’s message is simple but powerful: financial freedom isn’t about showing off. It’s about knowing what matters and building a life around it.
