Episode 26 Bonus – Rocky Lalvani Richersoul.com

Rocky Lalvani – Life Beyond Wealth

Ricky Lalvani of richersoul.com

Wealth Coach Rocky Lalvani, MBA, Enrolled Agent IRS, helps people who have financial success utilize their money to live a life of abundance. Rocky is the millionaire next door. He started out with basically nothing when his parents immigrated to the United State when he was 2 years old and his dad was 42. It was his parents second big move in life and they were starting over again to create the American dream. In spite of a lot of struggles and his Mom passing away when he was 7, he has been able to achieve financial success and wants to share all that he has learned along the way so others can achieve success much faster.



Hear why Rocky took his son out of school and put him in college as a Junior in High School via dual enrollment home school and why Rocky believes that the traditional idea of college may not be the best choice for our kids.

Resources Discussed:

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Rocky’s two biggest financial mistakes were with his investments.

Not getting involved in real estate sooner

Panicking in the Stock market and chasing returns. He should have rode it out.


I asked Rocky the question of how we can raise financially literate kids.

One of the worries Rocky has based upon what he has seen as an immigrant is that the– 1st generation lays the foundation, the 2nd generation builds the wealth…3rd generation blows it all.

How do we avoid that? 

Making sure my kids know this is – “my money, not your money.”

When giving allowance they have rules: Beginning at age five, they get $5.00. Of that, $2.00 is to spend, $2.00 is to save, and $1.00 is for charity.

Then when they say, “I want that.” My response is, “good you have your own money, go get it.”

This teaches them delayed gratification.

He cut his daughter off at college.

Kids Money Mindset – they mimic you.  B/t 5-12 the critical age of when mindsets are established.

Kids listen to what you DO not what you SAY.

You and spouse need to be on the same page. Kids are master negotiators.


If you wanted to hear more about the episode with Rocky’s daughter, Geeta, follow the link below.   Some of the topics they discuss are: 

  • The allowance system and how it taught her how to use money,  spend less and save more.  Blog post: How to get your kids out of your wallet
  • Why she decided to home school for the last 2 years of high school.
  • The different conferences Geeta was able to attend and what she learned.
  • Roth IRA’s for kids and the power of compound interest. Blog post: I gave my kids $200,000 for Christmas
  • The college choice conundrum.

If you want to connect with Rocky….Rocky’s weekly podcast can be found at http://richersoul.com/ and you can email him at rocky@richersoul.com.

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