The 100 TRILLION Dollar Wealth Transfer with Ken Costa

over the next 10 15 years um the over the next 10 15 years um the uh boomer generation of which I am one uh boomer generation of which I am one uh boomer generation of which I am one those of the postwar generation will those of the postwar generation will those of the postwar generation will transfer to what I call the zenial to transfer to what I call the zenial to transfer to what I call the zenial to the Millennials and to gen the Millennials and to gen the Millennials and to gen Z more than hundred trillion it's $65 Z more than hundred trillion it's $65 Z more than hundred trillion it's $65 trillion in the us alone and the trillion in the us alone and the trillion in the us alone and the question is how this Handover from the question is how this Handover from the question is how this Handover from the Boomers to the Zoomers will Boomers to the Zoomers will Boomers to the Zoomers will revolutionalize capitalism so what you revolutionalize capitalism so what you revolutionalize capitalism so what you could say to me is this hey come on Ken could say to me is this hey come on Ken could say to me is this hey come on Ken people die and when they die you know people die and when they die you know people die and when they die you know they they get their money that's they they get their money that's they they get their money that's happened throughout the history of happened throughout the history of happened throughout the history of humanity however this is very different humanity however this is very different humanity however this is very different firstly there's never been the sheer firstly there's never been the sheer firstly there's never been the sheer Quantum of money that is going to be Quantum of money that is going to be Quantum of money that is going to be transferred because of low interest transferred because of low interest transferred because of low interest rates of asset inflation over the last rates of asset inflation over the last rates of asset inflation over the last 20 years that is a huge huge sum the 20 years that is a huge huge sum the 20 years that is a huge huge sum the second and the most important is that second and the most important is that second and the most important is that not only will power power transfer uh not only will power power transfer uh not only will power power transfer uh well wealth transfer but Power transfers well wealth transfer but Power transfers well wealth transfer but Power transfers as well welcome to the K newoff as well welcome to the K newoff as well welcome to the K newoff leadership podcast on YouTube it's krie leadership podcast on YouTube it's krie leadership podcast on YouTube it's krie here and today we're going to talk about here and today we're going to talk about here and today we're going to talk about the $100 trillion wealth transfer with the $100 trillion wealth transfer with the $100 trillion wealth transfer with Ken Costa he is an investment banker he Ken Costa he is an investment banker he Ken Costa he is an investment banker he is welln he has received numerous Awards is welln he has received numerous Awards is welln he has received numerous Awards and works extensively in the field of and works extensively in the field of and works extensively in the field of philanthropy did you know there's a philanthropy did you know there's a philanthropy did you know there's a hundred trillion dollar being hundred trillion dollar being hundred trillion dollar being transferred from the silent generation transferred from the silent generation transferred from the silent generation of baby boomers to Gen X and zenial of baby boomers to Gen X and zenial of baby boomers to Gen X and zenial today it's crazy so we're going to talk today it's crazy so we're going to talk today it's crazy so we're going to talk all about that what does it mean what all about that what does it mean what all about that what does it mean what does it mean for them what does it mean

does it mean for them what does it mean does it mean for them what does it mean for you and a whole lot more hey if for you and a whole lot more hey if for you and a whole lot more hey if you're new here make sure you hit you're new here make sure you hit you're new here make sure you hit subscribe and today's episode is brought subscribe and today's episode is brought subscribe and today's episode is brought to you by Glue Forward Thinking pastors to you by Glue Forward Thinking pastors to you by Glue Forward Thinking pastors are turning to texting it's a direct and are turning to texting it's a direct and are turning to texting it's a direct and effective way to reach your congregation effective way to reach your congregation effective way to reach your congregation and our partners at glue are offering and our partners at glue are offering and our partners at glue are offering free unlimited texting to up to three free unlimited texting to up to three free unlimited texting to up to three groups in your system you can visit groups in your system you can visit groups in your system you can visit glue. usfree texting to get started and glue. usfree texting to get started and glue. usfree texting to get started and what if I told you that you can get a what if I told you that you can get a what if I told you that you can get a personalized assessment of your youth personalized assessment of your youth personalized assessment of your youth ministry in just 5 minutes well now you ministry in just 5 minutes well now you ministry in just 5 minutes well now you can to complete your free relational can to complete your free relational can to complete your free relational discipleship inventory and to access discipleship inventory and to access discipleship inventory and to access other expertly curated resources visit other expertly curated resources visit other expertly curated resources visit 10 by 10 by 10 by 10.org today and now to my conversation 10.org today and now to my conversation 10.org today and now to my conversation with Ken Costa well Ken welcome back to with Ken Costa well Ken welcome back to with Ken Costa well Ken welcome back to the podcast it's a delight to have you the podcast it's a delight to have you the podcast it's a delight to have you thank you Karen it's wonderful to be thank you Karen it's wonderful to be thank you Karen it's wonderful to be back with you and with all your back with you and with all your back with you and with all your listeners and viewers well I'll tell you listeners and viewers well I'll tell you listeners and viewers well I'll tell you I'm excited to be with you again in I'm excited to be with you again in I'm excited to be with you again in London this year for the alpha London this year for the alpha London this year for the alpha conference leadership conference that's conference leadership conference that's conference leadership conference that's going to be great we've hung out there going to be great we've hung out there going to be great we've hung out there before uh but we're going to focus on before uh but we're going to focus on before uh but we're going to focus on the100 trillion wealth transfer we'll the100 trillion wealth transfer we'll the100 trillion wealth transfer we'll get to the Staggering amount of money in get to the Staggering amount of money in get to the Staggering amount of money in a minute but I want to do a little bit a minute but I want to do a little bit a minute but I want to do a little bit of backstory first uh obviously you know of backstory first uh obviously you know of backstory first uh obviously you know you've spent a lot of your life all of you've spent a lot of your life all of you've spent a lot of your life all of your life in finance and various other your life in finance and various other your life in finance and various other things what shaped your attitudes about things what shaped your attitudes about things what shaped your attitudes about money when you were a child money when you were a child money when you were a child Ken well that was a that was a that's a Ken well that was a that was a that's a Ken well that was a that was a that's a great question I don't think I had any great question I don't think I had any great question I don't think I had any um I um I think grew up in a sort of

um I um I think grew up in a sort of um I um I think grew up in a sort of place in South place in South place in South Africa and then um uh yeah you know I Africa and then um uh yeah you know I Africa and then um uh yeah you know I think like many protected people in in think like many protected people in in think like many protected people in in that sort of um normal middle class that sort of um normal middle class that sort of um normal middle class wealth was assumed rather than um than wealth was assumed rather than um than wealth was assumed rather than um than thought for uh so yeah and then you know thought for uh so yeah and then you know thought for uh so yeah and then you know sort of sort of sort of uh when it when I got older of course I uh when it when I got older of course I uh when it when I got older of course I realized that it has to be earned realized that it has to be earned realized that it has to be earned that and then be coming to Faith of that and then be coming to Faith of that and then be coming to Faith of course had the profound effect of course had the profound effect of course had the profound effect of realizing that so many people have a realizing that so many people have a realizing that so many people have a complete misunderstanding of what money complete misunderstanding of what money complete misunderstanding of what money is in the kingdom and how to respond to is in the kingdom and how to respond to is in the kingdom and how to respond to it so it's it's it to your question it it so it's it's it to your question it it so it's it's it to your question it would have been phases over the period would have been phases over the period would have been phases over the period of time so what were some first of all of time so what were some first of all of time so what were some first of all when did you come to Faith how old were when did you come to Faith how old were when did you come to Faith how old were you you you so it was I was in in University in so it was I was in in University in so it was I was in in University in Cambridge in London I'd left South Cambridge in London I'd left South Cambridge in London I'd left South Africa because the system there was it Africa because the system there was it Africa because the system there was it was still under the apartate regime and was still under the apartate regime and was still under the apartate regime and I hated the Injustice of it all um was a I hated the Injustice of it all um was a I hated the Injustice of it all um was a young Marxist as one could expect uh young Marxist as one could expect uh young Marxist as one could expect uh believed that uh one needed a revolution believed that uh one needed a revolution believed that uh one needed a revolution to change the country um and that the to change the country um and that the to change the country um and that the churches were all complicit in churches were all complicit in churches were all complicit in maintaining the power status so I left maintaining the power status so I left maintaining the power status so I left there um without much regard to Faith there um without much regard to Faith there um without much regard to Faith with with with brought up in sort of nominally Catholic brought up in sort of nominally Catholic brought up in sort of nominally Catholic Family um but then in in University in Family um but then in in University in Family um but then in in University in Cambridge we Faith came alive together

Cambridge we Faith came alive together Cambridge we Faith came alive together with a group of people called Justin with a group of people called Justin with a group of people called Justin Welby is the Archbishop of Canterbury Welby is the Archbishop of Canterbury Welby is the Archbishop of Canterbury and Nikki Gumble who founded Alpha uh so and Nikki Gumble who founded Alpha uh so and Nikki Gumble who founded Alpha uh so it was a small group of people and it it was a small group of people and it it was a small group of people and it was um an Awakening time for us that's a was um an Awakening time for us that's a was um an Awakening time for us that's a really interesting concentration of really interesting concentration of really interesting concentration of notable people as students at Cambridge notable people as students at Cambridge notable people as students at Cambridge I mean yourself uh Justin Welby who's I mean yourself uh Justin Welby who's I mean yourself uh Justin Welby who's gone on to become the Archbishop of gone on to become the Archbishop of gone on to become the Archbishop of Canterbury Nikki Gumble uh the founder Canterbury Nikki Gumble uh the founder Canterbury Nikki Gumble uh the founder of Alpha and past Vicor of Holy Trinity of Alpha and past Vicor of Holy Trinity of Alpha and past Vicor of Holy Trinity Brompton that's really interesting what Brompton that's really interesting what Brompton that's really interesting what was it in the water supply or in the air was it in the water supply or in the air was it in the water supply or in the air in that moment that brought that in that moment that brought that in that moment that brought that concentration of IND individuals concentration of IND individuals concentration of IND individuals together in the same place at the same together in the same place at the same together in the same place at the same time well I think it was the water time well I think it was the water time well I think it was the water supply but it was the water supply of supply but it was the water supply of supply but it was the water supply of the spirit of God it was a it was a the spirit of God it was a it was a the spirit of God it was a it was a special special special outpouring um of the fresh water of the outpouring um of the fresh water of the outpouring um of the fresh water of the spirit at the time I think it was a spirit at the time I think it was a spirit at the time I think it was a sovereign work of God it was an enormous sovereign work of God it was an enormous sovereign work of God it was an enormous number of people came to Faith at the number of people came to Faith at the number of people came to Faith at the time became filled with the spirit of time became filled with the spirit of time became filled with the spirit of God found a new way of and we are God found a new way of and we are God found a new way of and we are talking about 50 years ago found a way a talking about 50 years ago found a way a talking about 50 years ago found a way a different way of approaching religion um different way of approaching religion um different way of approaching religion um that made sense to Everyday that made sense to Everyday that made sense to Everyday Life what persuaded you what changed Life what persuaded you what changed Life what persuaded you what changed your your your mind well what what changed my mind was mind well what what changed my mind was mind well what what changed my mind was that uh I realized uh which is quite that uh I realized uh which is quite that uh I realized uh which is quite interesting that um that for all the interesting that um that for all the interesting that um that for all the outward trappings of a successful career

outward trappings of a successful career outward trappings of a successful career that I was about to have and the that I was about to have and the that I was about to have and the training at the University there was a training at the University there was a training at the University there was a there was a there was an emptiness that there was a there was an emptiness that there was a there was an emptiness that just wouldn't be filled by whatever just wouldn't be filled by whatever just wouldn't be filled by whatever University would offer the usual things University would offer the usual things University would offer the usual things and then um you know I was persuaded by and then um you know I was persuaded by and then um you know I was persuaded by we a mission that was held in the we a mission that was held in the we a mission that was held in the by somebody who came and spoke to us by somebody who came and spoke to us by somebody who came and spoke to us about you know a deeper personal about you know a deeper personal about you know a deeper personal commitment to Christ that this was real commitment to Christ that this was real commitment to Christ that this was real and affected every day it wasn't merely and affected every day it wasn't merely and affected every day it wasn't merely a a nice club to join as a result of a a nice club to join as a result of a a nice club to join as a result of which I think Faith came alive but I which I think Faith came alive but I which I think Faith came alive but I then decided that I had to test this to then decided that I had to test this to then decided that I had to test this to see whether there was any intellectual see whether there was any intellectual see whether there was any intellectual rigor to what might have been an rigor to what might have been an rigor to what might have been an emotional response and I read theology emotional response and I read theology emotional response and I read theology for a year at Cambridge and survived for a year at Cambridge and survived for a year at Cambridge and survived there because those were the the the hey there because those were the the the hey there because those were the the the hey days of of of of liberalism and and you days of of of of liberalism and and you days of of of of liberalism and and you know I'm happy to say that you know know I'm happy to say that you know know I'm happy to say that you know there been many ups and downs and doubts there been many ups and downs and doubts there been many ups and downs and doubts on ethical issues of which there were on ethical issues of which there were on ethical issues of which there were many but on the basics of the faith I many but on the basics of the faith I many but on the basics of the faith I think that I was grounded there uh in a think that I was grounded there uh in a think that I was grounded there uh in a in the basics of the faith and that has in the basics of the faith and that has in the basics of the faith and that has been unchanged over all these years and been unchanged over all these years and been unchanged over all these years and it's pretty well this year 50 years of it's pretty well this year 50 years of it's pretty well this year 50 years of coming to Faith uh at University so coming to Faith uh at University so coming to Faith uh at University so probably twice as old as most of the probably twice as old as most of the probably twice as old as most of the people listening to people listening to people listening to us yeah I've got a few years on most of us yeah I've got a few years on most of us yeah I've got a few years on most of them too um you mentioned them too um you mentioned them too um you mentioned misunderstandings about money in the misunderstandings about money in the misunderstandings about money in the church that you discovered when you went church that you discovered when you went church that you discovered when you went to Cambridge what were some of those

to Cambridge what were some of those to Cambridge what were some of those initial misconceptions that you noted initial misconceptions that you noted initial misconceptions that you noted well it was filthy Luca it was tainted well it was filthy Luca it was tainted well it was filthy Luca it was tainted it was it was not you know you know it it was it was not you know you know it it was it was not you know you know it was not it it was probably if it it was was not it it was probably if it it was was not it it was probably if it it was The Dark Side of money which never had a The Dark Side of money which never had a The Dark Side of money which never had a side and then I realized of course that side and then I realized of course that side and then I realized of course that that actually you know all all money is that actually you know all all money is that actually you know all all money is given to us as one of the many gifts given to us as one of the many gifts given to us as one of the many gifts that God has given in order to be used that God has given in order to be used that God has given in order to be used parable of the talent to be used parable of the talent to be used parable of the talent to be used effectively to be used faithfully and effectively to be used faithfully and effectively to be used faithfully and you know faithfulness and you know faithfulness and you know faithfulness and Effectiveness um you know run together Effectiveness um you know run together Effectiveness um you know run together and when they run together there's a and when they run together there's a and when they run together there's a symbiotic relationship between the two symbiotic relationship between the two symbiotic relationship between the two that actually makes it strong and good that actually makes it strong and good that actually makes it strong and good and uh and so that was the early stages and uh and so that was the early stages and uh and so that was the early stages since then of course there's a slight since then of course there's a slight since then of course there's a slight embarrassment um sly in England probably embarrassment um sly in England probably embarrassment um sly in England probably different in the US um of talking about different in the US um of talking about different in the US um of talking about money as it would affect the day-to-day money as it would affect the day-to-day money as it would affect the day-to-day lives of people um which is a strange lives of people um which is a strange lives of people um which is a strange thing when you consider that thing when you consider that thing when you consider that 97% of the people that turn up in a 97% of the people that turn up in a 97% of the people that turn up in a church on a Sunday actually do some work church on a Sunday actually do some work church on a Sunday actually do some work not saying that the pastors don't but not saying that the pastors don't but not saying that the pastors don't but they they are mean they're in a they they are mean they're in a they they are mean they're in a different space and many of the pastors different space and many of the pastors different space and many of the pastors are ill equipped so I wrot a book called are ill equipped so I wrot a book called are ill equipped so I wrot a book called God at work to try and help people to God at work to try and help people to God at work to try and help people to understand that my workplace is My understand that my workplace is My understand that my workplace is My Worship Worship Worship station so where I the worship station station so where I the worship station station so where I the worship station and the workstation run together that's

and the workstation run together that's and the workstation run together that's where God calls us to be um and there is where God calls us to be um and there is where God calls us to be um and there is no distinction between the sacred and no distinction between the sacred and no distinction between the sacred and the secular which I think has been one the secular which I think has been one the secular which I think has been one of those great I mean there was a time of those great I mean there was a time of those great I mean there was a time when the church simply abandoned when the church simply abandoned when the church simply abandoned probably after the enlightenment um and probably after the enlightenment um and probably after the enlightenment um and so spirit ized everything but we are a so spirit ized everything but we are a so spirit ized everything but we are a material Faith Jesus spoke more about material Faith Jesus spoke more about material Faith Jesus spoke more about money than about marriage he's so you money than about marriage he's so you money than about marriage he's so you know that whole but car we we'll go off know that whole but car we we'll go off know that whole but car we we'll go off onto a tangent if you allow me to so onto a tangent if you allow me to so onto a tangent if you allow me to so stop tangents are always welcome here stop tangents are always welcome here stop tangents are always welcome here yeah but you were a Marxist at the time yeah but you were a Marxist at the time yeah but you were a Marxist at the time right when did that because I mean don't right when did that because I mean don't right when did that because I mean don't marxists think that money I mean the the marxists think that money I mean the the marxists think that money I mean the the big difference is free market versus big difference is free market versus big difference is free market versus State Market but you know marxists don't State Market but you know marxists don't State Market but you know marxists don't exactly glor ify Capital either no but exactly glor ify Capital either no but exactly glor ify Capital either no but the point about it was that actually uh the point about it was that actually uh the point about it was that actually uh we was you know those were the years we was you know those were the years we was you know those were the years where it looked as if the humanity was where it looked as if the humanity was where it looked as if the humanity was Marx was restoring a Humanity that in Marx was restoring a Humanity that in Marx was restoring a Humanity that in the apartate system in South Africa the apartate system in South Africa the apartate system in South Africa wasn't there uh and so that you know wasn't there uh and so that you know wasn't there uh and so that you know that it wasn't the economic and I'm now that it wasn't the economic and I'm now that it wasn't the economic and I'm now realizing I've realized you know coming realizing I've realized you know coming realizing I've realized you know coming to to England that actually the economic to to England that actually the economic to to England that actually the economic system of Marxism simply doesn't work system of Marxism simply doesn't work system of Marxism simply doesn't work but what he did do was he did accentuate but what he did do was he did accentuate but what he did do was he did accentuate the humanity of what he was trying to do the humanity of what he was trying to do the humanity of what he was trying to do I think it was a false distinction I think it was a false distinction I think it was a false distinction because although he might have been able because although he might have been able because although he might have been able to show us being freed from the to show us being freed from the to show us being freed from the capitalist subjugation of the masses capitalist subjugation of the masses capitalist subjugation of the masses actually there was nothing in Marxism

actually there was nothing in Marxism actually there was nothing in Marxism that could have persuaded how to how to that could have persuaded how to how to that could have persuaded how to how to overcome the the whole in one's own overcome the the whole in one's own overcome the the whole in one's own heart and the nature to be freed up from heart and the nature to be freed up from heart and the nature to be freed up from guilt and from you know looking for a guilt and from you know looking for a guilt and from you know looking for a forgiveness that only happens in in forgiveness that only happens in in forgiveness that only happens in in faith in Jesus Christ so as a Teenage faith in Jesus Christ so as a Teenage faith in Jesus Christ so as a Teenage Marxist would it have shocked you to Marxist would it have shocked you to Marxist would it have shocked you to learn that one day you would be in the learn that one day you would be in the learn that one day you would be in the venture capital and a finance year and venture capital and a finance year and venture capital and a finance year and uh that your life would be about money uh that your life would be about money uh that your life would be about money did did that I me that's not what your did did that I me that's not what your did did that I me that's not what your life is about but yeah of course of life is about but yeah of course of life is about but yeah of course of course it is yeah but you don't think course it is yeah but you don't think course it is yeah but you don't think about those things yet you know I guess about those things yet you know I guess about those things yet you know I guess not so how did you then get your start not so how did you then get your start not so how did you then get your start in finance how did that come about so I in finance how did that come about so I in finance how did that come about so I started I finished Cambridge um and was started I finished Cambridge um and was started I finished Cambridge um and was offered a a a job in an in what was then offered a a a job in an in what was then offered a a a job in an in what was then known as a merchant bank it's equivalent known as a merchant bank it's equivalent known as a merchant bank it's equivalent of a modern Investment Bank that's of a modern Investment Bank that's of a modern Investment Bank that's roughly sort of you know near 45 years roughly sort of you know near 45 years roughly sort of you know near 45 years ago um and I started there uh at trying ago um and I started there uh at trying ago um and I started there uh at trying to work out what Finance was going to be to work out what Finance was going to be to work out what Finance was going to be all all all about so that was that was the first about so that was that was the first about so that was that was the first initial move uh into finance and stayed initial move uh into finance and stayed initial move uh into finance and stayed on in Investment Banking mergers on in Investment Banking mergers on in Investment Banking mergers Acquisitions you know advice uh in Acquisitions you know advice uh in Acquisitions you know advice uh in finance became the sort of thing that I finance became the sort of thing that I finance became the sort of thing that I spent the rest of the time doing and spent the rest of the time doing and spent the rest of the time doing and still do so I still got a day job other still do so I still got a day job other still do so I still got a day job other than when I'm happily talking to than when I'm happily talking to than when I'm happily talking to you yeah so um you worked at Major you yeah so um you worked at Major you yeah so um you worked at Major financial institutions like UBS and financial institutions like UBS and financial institutions like UBS and Lazard is that how you pronounce it

Lazard is that how you pronounce it Lazard is that how you pronounce it Lazard yeah yeah you do we say Lazard Lazard yeah yeah you do we say Lazard Lazard yeah yeah you do we say Lazard but then you know Lazard it's one but then you know Lazard it's one but then you know Lazard it's one person's tomato and another person's tomato and another person's tomato and another tomato what were some of the biggest um tomato what were some of the biggest um tomato what were some of the biggest um we talked about misconceptions around we talked about misconceptions around we talked about misconceptions around money but what are some of the biggest money but what are some of the biggest money but what are some of the biggest misconceptions people have about misconceptions people have about misconceptions people have about Investment Banking and large financial Investment Banking and large financial Investment Banking and large financial institutions well the I don't know institutions well the I don't know institutions well the I don't know whether it's a misconception but whether it's a misconception but whether it's a misconception but particularly during the the the the particularly during the the the the particularly during the the the the great financial crisis yeah um the great financial crisis yeah um the great financial crisis yeah um the nature of greed was assumed to have been nature of greed was assumed to have been nature of greed was assumed to have been removed uh from the way in which the removed uh from the way in which the removed uh from the way in which the market operated there was a school of market operated there was a school of market operated there was a school of thought that thought that you know thought that thought that you know thought that thought that you know markets were efficient all you need was markets were efficient all you need was markets were efficient all you need was F was knowledge that you could base your F was knowledge that you could base your F was knowledge that you could base your judgments on on empirical facts on judgments on on empirical facts on judgments on on empirical facts on objective understandings but failed to objective understandings but failed to objective understandings but failed to understand that at the heart of all of understand that at the heart of all of understand that at the heart of all of this we're human beings and that humans this we're human beings and that humans this we're human beings and that humans were suff you know were were greedy were suff you know were were greedy were suff you know were were greedy needed to be restrained and what needed to be restrained and what needed to be restrained and what happened was the belief that was like a happened was the belief that was like a happened was the belief that was like a three Corner stool there was one spindle three Corner stool there was one spindle three Corner stool there was one spindle that was financed there was another that that was financed there was another that that was financed there was another that was um you know doing doing well um you was um you know doing doing well um you was um you know doing doing well um you know emot know emot know emot Ally concerned third on trust and what Ally concerned third on trust and what Ally concerned third on trust and what happened is that the two spindles on the happened is that the two spindles on the happened is that the two spindles on the stool broke you were left with finance stool broke you were left with finance stool broke you were left with finance and the whole thing collapsed because and the whole thing collapsed because and the whole thing collapsed because trust has to be built by individuals

trust has to be built by individuals trust has to be built by individuals which are spiritual emotional as well as which are spiritual emotional as well as which are spiritual emotional as well as Financial you want to do well yes but Financial you want to do well yes but Financial you want to do well yes but you want to do good as well and the good you want to do good as well and the good you want to do good as well and the good bit dropped off and Banks became uh bit dropped off and Banks became uh bit dropped off and Banks became uh excessively leveraged greed took over excessively leveraged greed took over excessively leveraged greed took over trust was broken um and it was one of trust was broken um and it was one of trust was broken um and it was one of the first major major shocks to the the first major major shocks to the the first major major shocks to the capitalist capitalist capitalist system yeah one of the things you know system yeah one of the things you know system yeah one of the things you know Seminary those most of our listeners Seminary those most of our listeners Seminary those most of our listeners work at a church we have a a good work at a church we have a a good work at a church we have a a good percentage that are like you they work percentage that are like you they work percentage that are like you they work in the wider world and serve in the in the wider world and serve in the in the wider world and serve in the church and then we've got a scattering church and then we've got a scattering church and then we've got a scattering of other listeners too but you know of other listeners too but you know of other listeners too but you know having served as a pastor for 20 years U having served as a pastor for 20 years U having served as a pastor for 20 years U you live off a Sal usually fairly modest you live off a Sal usually fairly modest you live off a Sal usually fairly modest Etc sometimes money can be a struggle Etc sometimes money can be a struggle Etc sometimes money can be a struggle for pastors you've had a lot of if you for pastors you've had a lot of if you for pastors you've had a lot of if you can call it success personally can call it success personally can call it success personally financially and and that's not financially and and that's not financially and and that's not guaranteed because you can be an guaranteed because you can be an guaranteed because you can be an investment banker and not make money or investment banker and not make money or investment banker and not make money or lose all kinds of money or make a good lose all kinds of money or make a good lose all kinds of money or make a good but average wage but you've had but average wage but you've had but average wage but you've had extraordinary success I'd love for you extraordinary success I'd love for you extraordinary success I'd love for you to unpack some inflection points or some to unpack some inflection points or some to unpack some inflection points or some good decisions I'm sure you've made good decisions I'm sure you've made good decisions I'm sure you've made mixed decisions over time like everybody mixed decisions over time like everybody mixed decisions over time like everybody but I'd like you to look back and maybe but I'd like you to look back and maybe but I'd like you to look back and maybe pick out a couple of of inflection pick out a couple of of inflection pick out a couple of of inflection points or good decisions you made along points or good decisions you made along points or good decisions you made along the way that that could be instructive the way that that could be instructive the way that that could be instructive to the rest of to the rest of to the rest of us I think the first inflection I us I think the first inflection I us I think the first inflection I remember it very remember it very remember it very vividly um was vividly um was vividly um was realizing um that um you know money's

realizing um that um you know money's realizing um that um you know money's the power of money most people the power of money most people the power of money most people understand misunderstand the understand misunderstand the understand misunderstand the extraordinary powerful nature extraordinary powerful nature extraordinary powerful nature I mean after all your money will survive I mean after all your money will survive I mean after all your money will survive you when you die there will be a bank you when you die there will be a bank you when you die there will be a bank account it would be the estate of carry account it would be the estate of carry account it would be the estate of carry new of but there will be in a bank new of but there will be in a bank new of but there will be in a bank account there will be money in it I account there will be money in it I account there will be money in it I imagine um well this this what we're imagine um well this this what we're imagine um well this this what we're working toward we're hoping and so it working toward we're hoping and so it working toward we're hoping and so it becomes an idol and the idol the becomes an idol and the idol the becomes an idol and the idol the principal claim of the idol is to principal claim of the idol is to principal claim of the idol is to survive death or to be able to manage survive death or to be able to manage survive death or to be able to manage death or to sweeten death death or to sweeten death death or to sweeten death and so when you when so the first and so when you when so the first and so when you when so the first realization I remember walking down a realization I remember walking down a realization I remember walking down a street in London next to the Majestic street in London next to the Majestic street in London next to the Majestic Bank of England as solid as you could Bank of England as solid as you could Bank of England as solid as you could imagine it to be and realizing that imagine it to be and realizing that imagine it to be and realizing that actually it was a temporary institution actually it was a temporary institution actually it was a temporary institution that it would go like money would go it that it would go like money would go it that it would go like money would go it did not have that permanence that would did not have that permanence that would did not have that permanence that would um that would be claiming all people's um that would be claiming all people's um that would be claiming all people's allegiance to to that so I think that allegiance to to that so I think that allegiance to to that so I think that was that first realization um that money was that first realization um that money was that first realization um that money was fleeting but powerful and if you was fleeting but powerful and if you was fleeting but powerful and if you underestimate it um then you really have underestimate it um then you really have underestimate it um then you really have begun to start with trouble uh so that I begun to start with trouble uh so that I begun to start with trouble uh so that I think was a major change on the on the think was a major change on the on the think was a major change on the on the understanding of it the second I understanding of it the second I understanding of it the second I remember was the nature of tithing I remember was the nature of tithing I remember was the nature of tithing I know people have differing views know people have differing views know people have differing views particularly in England where they say

particularly in England where they say particularly in England where they say well you don't want to be prescriptive well you don't want to be prescriptive well you don't want to be prescriptive you need to be generous Etc it's always you need to be generous Etc it's always you need to be generous Etc it's always the generosity I've always worked out of the generosity I've always worked out of the generosity I've always worked out of the most generous never manages to add the most generous never manages to add the most generous never manages to add up to 10% but there we are uh if you are up to 10% but there we are uh if you are up to 10% but there we are uh if you are going to be generous I think you want to going to be generous I think you want to going to be generous I think you want to be over that number and so I mean I be over that number and so I mean I be over that number and so I mean I didn't think in the early stages of you didn't think in the early stages of you didn't think in the early stages of you know life was difficult we had a young know life was difficult we had a young know life was difficult we had a young family there was a big mortgage to pay family there was a big mortgage to pay family there was a big mortgage to pay there were payments on cars and salary there were payments on cars and salary there were payments on cars and salary wasn't as much and and so obviously it wasn't as much and and so obviously it wasn't as much and and so obviously it was difficult making payments but it was difficult making payments but it was difficult making payments but it started small and incrementally added started small and incrementally added started small and incrementally added and it I think just that discipline and it I think just that discipline and it I think just that discipline facing the facing the facing the reality but wanting to correct it made a reality but wanting to correct it made a reality but wanting to correct it made a big change in the understanding of of of big change in the understanding of of of big change in the understanding of of of of of money and I think thirdly is very of of money and I think thirdly is very of of money and I think thirdly is very important is actually to be able to talk important is actually to be able to talk important is actually to be able to talk to somebody about you a peer of some to somebody about you a peer of some to somebody about you a peer of some kind you know roughly the same where kind you know roughly the same where kind you know roughly the same where there's no jealousy involved you have there's no jealousy involved you have there's no jealousy involved you have it's it's a very difficult judgment but it's it's a very difficult judgment but it's it's a very difficult judgment but someone who you can talk to you can talk someone who you can talk to you can talk someone who you can talk to you can talk to about your finances and I've done it to about your finances and I've done it to about your finances and I've done it to to to several people separately to to to several people separately to to to several people separately um and I've learned a lot from others um and I've learned a lot from others um and I've learned a lot from others who've made those comments to me so who've made those comments to me so who've made those comments to me so those would be the milestones in that um those would be the milestones in that um those would be the milestones in that um Journey but it is a journey car I Journey but it is a journey car I Journey but it is a journey car I money's the power of money you you know money's the power of money you you know money's the power of money you you know economists talk about money being economists talk about money being economists talk about money being nominal and you know we could use um nominal and you know we could use um nominal and you know we could use um bits of um bead and exchange things but

bits of um bead and exchange things but bits of um bead and exchange things but instead we've got a currency but but the instead we've got a currency but but the instead we've got a currency but but the Bible is very full of one thing that Bible is very full of one thing that Bible is very full of one thing that money is numinous in other words it has money is numinous in other words it has money is numinous in other words it has power in power in power in itself um and that power can be used for itself um and that power can be used for itself um and that power can be used for good or for ill but it is powerful and good or for ill but it is powerful and good or for ill but it is powerful and that's why of course when Jesus that's why of course when Jesus that's why of course when Jesus addresses uh the question of money he addresses uh the question of money he addresses uh the question of money he uses words like you will love the one uses words like you will love the one uses words like you will love the one and hate the other these are not words and hate the other these are not words and hate the other these are not words of Economics these are words of of Economics these are words of of Economics these are words of emotional attachment and so he emotional attachment and so he emotional attachment and so he recognizes that we need to be able to recognizes that we need to be able to recognizes that we need to be able to stand freed from the you know the the stand freed from the you know the the stand freed from the you know the the greed and the rapacious um desires that greed and the rapacious um desires that greed and the rapacious um desires that money brings to all of us I mean I've money brings to all of us I mean I've money brings to all of us I mean I've seen greedy billionaires um and the most seen greedy billionaires um and the most seen greedy billionaires um and the most amazingly generous billionaires I've amazingly generous billionaires I've amazingly generous billionaires I've seen greedy students and the most seen greedy students and the most seen greedy students and the most amazingly generous young students I it amazingly generous young students I it amazingly generous young students I it you it just cuts across um the attitude you it just cuts across um the attitude you it just cuts across um the attitude to to finance and to money and of course to to finance and to money and of course to to finance and to money and of course the Love of Money causes the Love of Money causes the Love of Money causes trouble I want to go back to points two trouble I want to go back to points two trouble I want to go back to points two and three for a minute or at least point and three for a minute or at least point and three for a minute or at least point two so point two I think what you're two so point two I think what you're two so point two I think what you're saying there if I heard you right is saying there if I heard you right is saying there if I heard you right is small deposits over time small deposits small deposits over time small deposits small deposits over time small deposits over time it isn't like one day you wake over time it isn't like one day you wake over time it isn't like one day you wake up and it's like whoa there's all this up and it's like whoa there's all this up and it's like whoa there's all this money in my account right it just money in my account right it just money in my account right it just doesn't happen that way and something doesn't happen that way and something doesn't happen that way and something like Warren Buffett if you look at him like Warren Buffett if you look at him like Warren Buffett if you look at him value investor made most of his fortune value investor made most of his fortune value investor made most of his fortune after the age of 65 simply through after the age of 65 simply through after the age of 65 simply through compounding you read people like Morgan compounding you read people like Morgan compounding you read people like Morgan housel or Scott Galloway and many others housel or Scott Galloway and many others housel or Scott Galloway and many others who talk about compound interest as the

who talk about compound interest as the who talk about compound interest as the Eighth Wonder in the world and yet a lot Eighth Wonder in the world and yet a lot Eighth Wonder in the world and yet a lot of people don't really understand of people don't really understand of people don't really understand compound interest so for the leader compound interest so for the leader compound interest so for the leader who's putting away $50 a week you know who's putting away $50 a week you know who's putting away $50 a week you know or $100 a month or something like that or $100 a month or something like that or $100 a month or something like that who thinks this isn't amounting to a who thinks this isn't amounting to a who thinks this isn't amounting to a hill of beans can you can you just give hill of beans can you can you just give hill of beans can you can you just give us a a quick short tutorial in the power us a a quick short tutorial in the power us a a quick short tutorial in the power of compound interest in what happens of compound interest in what happens of compound interest in what happens over over over time time time well the the the great thing about well the the the great thing about well the the the great thing about compounding is to avoid big losses compounding is to avoid big losses compounding is to avoid big losses that therefore means that you're going that therefore means that you're going that therefore means that you're going to do things that are relatively to do things that are relatively to do things that are relatively boring the problem with the age is that boring the problem with the age is that boring the problem with the age is that the any number of Chats on bitcoin is the any number of Chats on bitcoin is the any number of Chats on bitcoin is going to $200,000 um you know you can make a $200,000 um you know you can make a quick Buck here or a quick Buck there quick Buck here or a quick Buck there quick Buck here or a quick Buck there the essence of compounding is that it's the essence of compounding is that it's the essence of compounding is that it's not that that mindset will just bring not that that mindset will just bring not that that mindset will just bring trouble the essence of compounding is trouble the essence of compounding is trouble the essence of compounding is that it is a consistent and a lower risk that it is a consistent and a lower risk that it is a consistent and a lower risk return but it continues to avoid the uh return but it continues to avoid the uh return but it continues to avoid the uh the losses and therefore the the the losses and therefore the the the losses and therefore the the investment over a period of time of $50 investment over a period of time of $50 investment over a period of time of $50 a month or $100 a month is the wisest a month or $100 a month is the wisest a month or $100 a month is the wisest thing that you could be doing rather thing that you could be doing rather thing that you could be doing rather than trying to spike it to try and find than trying to spike it to try and find than trying to spike it to try and find um a higher return in some more um a higher return in some more um a higher return in some more speculative uh activity and then don't speculative uh activity and then don't speculative uh activity and then don't fiddle the worst thing is is when people fiddle the worst thing is is when people fiddle the worst thing is is when people start fiddling they sort of oh gosh you

start fiddling they sort of oh gosh you start fiddling they sort of oh gosh you know I've heard from the golf club that know I've heard from the golf club that know I've heard from the golf club that s says you know thinks that this new s says you know thinks that this new s says you know thinks that this new stock is going to fly you know uh and stock is going to fly you know uh and stock is going to fly you know uh and then they'll take the money out put it then they'll take the money out put it then they'll take the money out put it in there and it crashes just keep it in there and it crashes just keep it in there and it crashes just keep it keep it compounding there are other bits keep it compounding there are other bits keep it compounding there are other bits if you've got another if you've got another if you've got another $25 then put it into the latest social $25 then put it into the latest social $25 then put it into the latest social media competitor 2x which shall be media competitor 2x which shall be media competitor 2x which shall be nameless and see whether that it nameless and see whether that it nameless and see whether that it produces more more for you or not but produces more more for you or not but produces more more for you or not but don't take the the core piece of what don't take the the core piece of what don't take the the core piece of what you've got leave it to you've got leave it to you've got leave it to compound but then I'm you I'm not an compound but then I'm you I'm not an compound but then I'm you I'm not an investor so you take it with a pinches investor so you take it with a pinches investor so you take it with a pinches old okay maybe we should move on because old okay maybe we should move on because old okay maybe we should move on because you're talking about your latest book is you're talking about your latest book is you're talking about your latest book is called the1 called the1 called the1 trillion wealth transfer I'm not sure trillion wealth transfer I'm not sure trillion wealth transfer I'm not sure most of us can even most of us can even most of us can even get the the concept of that through our get the the concept of that through our get the the concept of that through our minds like how much money that actually minds like how much money that actually minds like how much money that actually is we struggle with you know a million is we struggle with you know a million is we struggle with you know a million it's like okay I think I have an idea a it's like okay I think I have an idea a it's like okay I think I have an idea a lot of people listening not a lot but lot of people listening not a lot but lot of people listening not a lot but quite a few would have church budgets in quite a few would have church budgets in quite a few would have church budgets in the millions of dollars or tens of the millions of dollars or tens of the millions of dollars or tens of millions of dollars but you get into the millions of dollars but you get into the millions of dollars but you get into the billion trillion idea what what is being billion trillion idea what what is being billion trillion idea what what is being transferred in this 100 trillion transferred in this 100 trillion transferred in this 100 trillion transfer so here here's the essence of transfer so here here's the essence of transfer so here here's the essence of it over the next 10 15 years um the it over the next 10 15 years um the it over the next 10 15 years um the uh boomer generation of which I am one

uh boomer generation of which I am one uh boomer generation of which I am one those of the postwar generation will those of the postwar generation will those of the postwar generation will transfer to what I call the zenial to transfer to what I call the zenial to transfer to what I call the zenial to the Millennials and to gen the Millennials and to gen the Millennials and to gen Z more than hundred trillion it's $65 Z more than hundred trillion it's $65 Z more than hundred trillion it's $65 trillion in the us alone and the trillion in the us alone and the trillion in the us alone and the question is how this Handover from the question is how this Handover from the question is how this Handover from the Boomers to the Zoomers will Boomers to the Zoomers will Boomers to the Zoomers will revolutionalize capitalism so car what revolutionalize capitalism so car what revolutionalize capitalism so car what you could say to me is this come on Ken you could say to me is this come on Ken you could say to me is this come on Ken people die and when they die you know people die and when they die you know people die and when they die you know they they get their money that happened they they get their money that happened they they get their money that happened throughout the history of humanity throughout the history of humanity throughout the history of humanity however this is very different firstly however this is very different firstly however this is very different firstly there's never been the sheer Quantum of there's never been the sheer Quantum of there's never been the sheer Quantum of money that is going to be transferred money that is going to be transferred money that is going to be transferred because of low interest rates of asset because of low interest rates of asset because of low interest rates of asset inflation over the last 20 years that is inflation over the last 20 years that is inflation over the last 20 years that is a huge huge sum the second and the most a huge huge sum the second and the most a huge huge sum the second and the most important is that not only will power important is that not only will power important is that not only will power transfer uh will wealth transfer but transfer uh will wealth transfer but transfer uh will wealth transfer but Power transfers as well because the new Power transfers as well because the new Power transfers as well because the new generation are firstly ex extremely Tech generation are firstly ex extremely Tech generation are firstly ex extremely Tech savy they're not afraid of artificial savy they're not afraid of artificial savy they're not afraid of artificial intelligence Quantum Computing chat GPT intelligence Quantum Computing chat GPT intelligence Quantum Computing chat GPT and any of that as a previous generation and any of that as a previous generation and any of that as a previous generation were and will use that as a tool were and will use that as a tool were and will use that as a tool secondly they their their power is in secondly they their their power is in secondly they their their power is in their influence in social media the their influence in social media the their influence in social media the ability to to work social media the ability to to work social media the ability to to work social media the understanding of Tik toks and algorithms understanding of Tik toks and algorithms understanding of Tik toks and algorithms and as a natural part they they digital and as a natural part they they digital and as a natural part they they digital natives they understand this um and then natives they understand this um and then natives they understand this um and then thirdly um this generation has a very

thirdly um this generation has a very thirdly um this generation has a very clear and defined agenda as to what he clear and defined agenda as to what he clear and defined agenda as to what he wants to do with that money uh the care wants to do with that money uh the care wants to do with that money uh the care for the environment the uh for the environment the uh for the environment the uh sustainability Justice Racial equality sustainability Justice Racial equality sustainability Justice Racial equality these are very important pieces so these are very important pieces so these are very important pieces so combine that and you've got this tsunami combine that and you've got this tsunami combine that and you've got this tsunami of wealth uh coming and then you may say of wealth uh coming and then you may say of wealth uh coming and then you may say oh well that's going to happen the next oh well that's going to happen the next oh well that's going to happen the next 10 years don't worry no no no the 10 years don't worry no no no the 10 years don't worry no no no the biggest bank at the moment in the UK and biggest bank at the moment in the UK and biggest bank at the moment in the UK and also in the US is also in the US is also in the US is called not Bank of America it's not called not Bank of America it's not called not Bank of America it's not called Wells Fargo it's called bowad the called Wells Fargo it's called bowad the called Wells Fargo it's called bowad the bank of mom and dad and probably the bank of mom and dad and probably the bank of mom and dad and probably the bank of Grandpa and Grandma because bank of Grandpa and Grandma because bank of Grandpa and Grandma because already already they are starting to already already they are starting to already already they are starting to help on College fees they're starting to help on College fees they're starting to help on College fees they're starting to help on deposits on homes on trying to help on deposits on homes on trying to help on deposits on homes on trying to help pay the rent in every major city in help pay the rent in every major city in help pay the rent in every major city in the world almost no 25y old um you know the world almost no 25y old um you know the world almost no 25y old um you know 30 year old in the UK even 40 years old 30 year old in the UK even 40 years old 30 year old in the UK even 40 years old can buy by a house or a flat and so the can buy by a house or a flat and so the can buy by a house or a flat and so the the the transfer is already occurring the the transfer is already occurring the the transfer is already occurring that's the that's the that's the significance of what is happening not significance of what is happening not significance of what is happening not some future date but that it's all some future date but that it's all some future date but that it's all happening now and now how that happens happening now and now how that happens happening now and now how that happens how it's used how this wealth and power how it's used how this wealth and power how it's used how this wealth and power mixture um is taken on to the next mixture um is taken on to the next mixture um is taken on to the next Generation that's the key question for Generation that's the key question for Generation that's the key question for our time is that one of the factors our time is that one of the factors our time is that one of the factors driving up the housing market right now driving up the housing market right now driving up the housing market right now the fact that a lot of purchasers have a the fact that a lot of purchasers have a the fact that a lot of purchasers have a mom and dad or somebody behind them sure

mom and dad or somebody behind them sure mom and dad or somebody behind them sure wow 67% of first-time buyers in London wow 67% of first-time buyers in London wow 67% of first-time buyers in London the equities provided by my banker M and the equities provided by my banker M and the equities provided by my banker M and dad and I the market dad and I the market dad and I the market further well well I think it's different further well well I think it's different further well well I think it's different in the UK we've got very limited Land in the UK we've got very limited Land in the UK we've got very limited Land North America is wonderful we all think North America is wonderful we all think North America is wonderful we all think you've just got masses and masses and if you've just got masses and masses and if you've just got masses and masses and if you don't don't like it in New York you you don't don't like it in New York you you don't don't like it in New York you can always get a can always get a can always get a Texas but it's um but yeah you know it Texas but it's um but yeah you know it Texas but it's um but yeah you know it is having I mean that's one of the cons is having I mean that's one of the cons is having I mean that's one of the cons the other consequence unfortunately is the other consequence unfortunately is the other consequence unfortunately is the the very high rates of divorce the the very high rates of divorce the the very high rates of divorce because at that moment two families need because at that moment two families need because at that moment two families need two houses one family needs two houses two houses one family needs two houses two houses one family needs two houses and on your go I bought my first house and on your go I bought my first house and on your go I bought my first house in 1997 I was a little late to the in 1997 I was a little late to the in 1997 I was a little late to the market because I had been in school for market because I had been in school for market because I had been in school for literally three decades bunch of career literally three decades bunch of career literally three decades bunch of career changes but I remember it was a stretch changes but I remember it was a stretch changes but I remember it was a stretch but it almost seemed inevitable it was but it almost seemed inevitable it was but it almost seemed inevitable it was not that difficult I don't want to say not that difficult I don't want to say not that difficult I don't want to say what I paid for the house because what I paid for the house because what I paid for the house because everybody would just throw up uh cuz everybody would just throw up uh cuz everybody would just throw up uh cuz houses were so inexpensive back then and houses were so inexpensive back then and houses were so inexpensive back then and even as a multiple of income was maybe 3 even as a multiple of income was maybe 3 even as a multiple of income was maybe 3 or 4X my salary you know and now it's or 4X my salary you know and now it's or 4X my salary you know and now it's 10x um it's it's it's really really hard 10x um it's it's it's really really hard 10x um it's it's it's really really hard because even when you were starting out because even when you were starting out because even when you were starting out yeah it was tight you had to tighten yeah it was tight you had to tighten yeah it was tight you had to tighten your belt you had to think twice but it your belt you had to think twice but it your belt you had to think twice but it was easier and vehicles weren't per was easier and vehicles weren't per was easier and vehicles weren't per capita as expensive as they are now so capita as expensive as they are now so capita as expensive as they are now so everything's gone through the roof and everything's gone through the roof and everything's gone through the roof and part of me wonders you know as I've part of me wonders you know as I've part of me wonders you know as I've watched what's happened particularly

watched what's happened particularly watched what's happened particularly since Co is you know to inflation and since Co is you know to inflation and since Co is you know to inflation and the housing market are we moving back to the housing market are we moving back to the housing market are we moving back to a feudal society where a few people are a feudal society where a few people are a feudal society where a few people are going to own everything and everybody going to own everything and everybody going to own everything and everybody else rents or what do you see happening else rents or what do you see happening else rents or what do you see happening in the macro economy with that and then in the macro economy with that and then in the macro economy with that and then I want to get back into the I want to get back into the I want to get back into the transfer well the interesting I mean I transfer well the interesting I mean I transfer well the interesting I mean I think look I I think that uh there are think look I I think that uh there are think look I I think that uh there are significant changes that we cannot judge significant changes that we cannot judge significant changes that we cannot judge we do not know what the what the tech we do not know what the what the tech we do not know what the what the tech Revolution will bring about we have no Revolution will bring about we have no Revolution will bring about we have no idea of uh of what blockchain or idea of uh of what blockchain or idea of uh of what blockchain or artificial intelligence or Quantum artificial intelligence or Quantum artificial intelligence or Quantum Computing is going to do to change now Computing is going to do to change now Computing is going to do to change now the reason why that's important is the reason why that's important is the reason why that's important is because a generation that is much more because a generation that is much more because a generation that is much more Savvy in its technology can accumulate Savvy in its technology can accumulate Savvy in its technology can accumulate Capital At a rate far more than just the Capital At a rate far more than just the Capital At a rate far more than just the mere accumulation of a previous mere accumulation of a previous mere accumulation of a previous generation who are you know so you your generation who are you know so you your generation who are you know so you your billionaires can rise because they are billionaires can rise because they are billionaires can rise because they are doing cat GPT for example human who doing cat GPT for example human who doing cat GPT for example human who knows how many billion that's worth so I knows how many billion that's worth so I knows how many billion that's worth so I I mean it's a new open playing field so I mean it's a new open playing field so I mean it's a new open playing field so we need to be careful before we think it we need to be careful before we think it we need to be careful before we think it becomes too rigid that only those that becomes too rigid that only those that becomes too rigid that only those that inherit un of course when you ask the inherit un of course when you ask the inherit un of course when you ask the question where does where do the new question where does where do the new question where does where do the new billionaires come from answer Mom and billionaires come from answer Mom and billionaires come from answer Mom and Dad inheritance is actually creating the Dad inheritance is actually creating the Dad inheritance is actually creating the new class of billionaires but that will new class of billionaires but that will new class of billionaires but that will take that'll be for the moment because take that'll be for the moment because take that'll be for the moment because it's still a legacy soon after this we it's still a legacy soon after this we it's still a legacy soon after this we will see a growth uh in um will see a growth uh in um will see a growth uh in um in the number of people who have in the number of people who have in the number of people who have discovered new technologies uh new ways

discovered new technologies uh new ways discovered new technologies uh new ways of investing new ways of creating of investing new ways of creating of investing new ways of creating Capital so you're saying this is just Capital so you're saying this is just Capital so you're saying this is just the beginning yes wow so what does that the beginning yes wow so what does that the beginning yes wow so what does that do okay you you said you know the Next do okay you you said you know the Next do okay you you said you know the Next Generation they're going to work at Generation they're going to work at Generation they're going to work at climate change they're going to work on climate change they're going to work on climate change they're going to work on the environment sustainable investing the environment sustainable investing the environment sustainable investing ethical Etc and I would say that's ethical Etc and I would say that's ethical Etc and I would say that's that's somewhat true um on the other that's somewhat true um on the other that's somewhat true um on the other hand you look at every body who's hand you look at every body who's hand you look at every body who's running the Magnificent 7 they tend with running the Magnificent 7 they tend with running the Magnificent 7 they tend with the exception of of Tim Cook you know the exception of of Tim Cook you know the exception of of Tim Cook you know they tend to be younger and Mark they tend to be younger and Mark they tend to be younger and Mark Zuckerberg is buying up Hawaii right now Zuckerberg is buying up Hawaii right now Zuckerberg is buying up Hawaii right now and doing other things do you think that and doing other things do you think that and doing other things do you think that that agenda will stay in place when that agenda will stay in place when that agenda will stay in place when they're inheriting millions or tens of they're inheriting millions or tens of they're inheriting millions or tens of millions of dollars or because you know millions of dollars or because you know millions of dollars or because you know like what stops what stops the Next like what stops what stops the Next like what stops what stops the Next Generation from just saying great I can Generation from just saying great I can Generation from just saying great I can live the life of an influencer I can live the life of an influencer I can live the life of an influencer I can travel all the time I can lie on the travel all the time I can lie on the travel all the time I can lie on the beach beach beach I you know all of that what I'm I'm just I you know all of that what I'm I'm just I you know all of that what I'm I'm just really curious about what it'll do I did really curious about what it'll do I did really curious about what it'll do I did not have millions of dollars dropped in not have millions of dollars dropped in not have millions of dollars dropped in my lap when I was 30 it's the com it's my lap when I was 30 it's the com it's my lap when I was 30 it's the com it's the comment that all my colleagues make the comment that all my colleagues make the comment that all my colleagues make at the same time saying about the at the same time saying about the at the same time saying about the generation saying it's a whole bunch of generation saying it's a whole bunch of generation saying it's a whole bunch of feckless avocado eaters all smashed feckless avocado eaters all smashed feckless avocado eaters all smashed avocados and the only crisis is when the avocados and the only crisis is when the avocados and the only crisis is when the battery runs out of out of the iPhone um battery runs out of out of the iPhone um battery runs out of out of the iPhone um but I I think there totally misreads the but I I think there totally misreads the but I I think there totally misreads the generation in my view that what has generation in my view that what has generation in my view that what has happened is it's a prophetic generation happened is it's a prophetic generation happened is it's a prophetic generation it's not just uh that that they think it's not just uh that that they think it's not just uh that that they think these are interesting things and that these are interesting things and that these are interesting things and that they can take the money and just do what

they can take the money and just do what they can take the money and just do what they want they want to do well with they want they want to do well with they want they want to do well with their their their money uh and that generation is you know money uh and that generation is you know money uh and that generation is you know it was attributed to Churchill I think it was attributed to Churchill I think it was attributed to Churchill I think wrongly that if you're not a socialist wrongly that if you're not a socialist wrongly that if you're not a socialist at 20 you have no heart and if you're a at 20 you have no heart and if you're a at 20 you have no heart and if you're a socialist at 40 you have no head I think socialist at 40 you have no head I think socialist at 40 you have no head I think that what is now happening is that the that what is now happening is that the that what is now happening is that the the the the genz and the the Millennials the the the genz and the the Millennials the the the genz and the the Millennials will be at the end of this decade in the will be at the end of this decade in the will be at the end of this decade in the majority of all public um of the key uh majority of all public um of the key uh majority of all public um of the key uh uh officers in the sea sues of major uh officers in the sea sues of major uh officers in the sea sues of major corporations and in the churches um and corporations and in the churches um and corporations and in the churches um and said and they have they're still said and they have they're still said and they have they're still committed this is a thing they haven't committed this is a thing they haven't committed this is a thing they haven't changed they are still committed to that changed they are still committed to that changed they are still committed to that agenda so I think that this generation agenda so I think that this generation agenda so I think that this generation is prophetic I think they are they is prophetic I think they are they is prophetic I think they are they really are wanting to do well but to do really are wanting to do well but to do really are wanting to do well but to do good as well and that IE has shifted good as well and that IE has shifted good as well and that IE has shifted most people say this is still the ey you most people say this is still the ey you most people say this is still the ey you know the iPhone the iPad everything know the iPhone the iPad everything know the iPhone the iPad everything begins with ey I don't think that's true begins with ey I don't think that's true begins with ey I don't think that's true I think you know do you not perceive it I think you know do you not perceive it I think you know do you not perceive it do you not perceive that the ey is do you not perceive that the ey is do you not perceive that the ey is moving to the where to the Wii and that moving to the where to the Wii and that moving to the where to the Wii and that in part is the danger because the way I in part is the danger because the way I in part is the danger because the way I put it is this we need the hindsight of put it is this we need the hindsight of put it is this we need the hindsight of the Boomers that's my Our Generation My the Boomers that's my Our Generation My the Boomers that's my Our Generation My Generation but we need the Insight of Generation but we need the Insight of Generation but we need the Insight of the the Zoomers which is the lack of the the Zoomers which is the lack of the the Zoomers which is the lack of fear for the future the technological fear for the future the technological fear for the future the technological enablement to create the enablement to create the enablement to create the foresight that'll preach hindsight foresight that'll preach hindsight foresight that'll preach hindsight Insight Insight Insight foresight the purpose of the

foresight the purpose of the foresight the purpose of the corporations and they were looking for corporations and they were looking for corporations and they were looking for purpose they want to know that they're purpose they want to know that they're purpose they want to know that they're working within purposeful organizations working within purposeful organizations working within purposeful organizations and every organization knows that unless and every organization knows that unless and every organization knows that unless they can create that clear sense of they can create that clear sense of they can create that clear sense of purpose um that they will not get the purpose um that they will not get the purpose um that they will not get the best people to come and work for them best people to come and work for them best people to come and work for them and I'll will never forget I'll give you and I'll will never forget I'll give you and I'll will never forget I'll give you this story K you know when Occupy this story K you know when Occupy this story K you know when Occupy Movement s years ago took over OCC Wall Movement s years ago took over OCC Wall Movement s years ago took over OCC Wall Street what was that they came to London Street what was that they came to London Street what was that they came to London they wanted to occupy the London Stock they wanted to occupy the London Stock they wanted to occupy the London Stock Exchange and ended occupying the whole Exchange and ended occupying the whole Exchange and ended occupying the whole of St Paul's Cathedral uh and the steps of St Paul's Cathedral uh and the steps of St Paul's Cathedral uh and the steps to St Paul's Cathedral and there were to St Paul's Cathedral and there were to St Paul's Cathedral and there were hundreds of tents there and everybody hundreds of tents there and everybody hundreds of tents there and everybody expected some very serious violence to expected some very serious violence to expected some very serious violence to occur the bishop of London asked me to occur the bishop of London asked me to occur the bishop of London asked me to mediate with the city fathers and with mediate with the city fathers and with mediate with the city fathers and with this group of people that was task that this group of people that was task that this group of people that was task that no investment banker would take on no investment banker would take on no investment banker would take on voluntarily was because everybody's got voluntarily was because everybody's got voluntarily was because everybody's got their own Notions but one person came up their own Notions but one person came up their own Notions but one person came up to me and he said to me Ken if your to me and he said to me Ken if your to me and he said to me Ken if your system of the market economy is so good system of the market economy is so good system of the market economy is so good why isn't it working for my generation why isn't it working for my generation why isn't it working for my generation why is it that we cannot have homes or why is it that we cannot have homes or why is it that we cannot have homes or uh we cannot put down deposits why does uh we cannot put down deposits why does uh we cannot put down deposits why does it work for you and not for us and that it work for you and not for us and that it work for you and not for us and that was the moment when I really decided was the moment when I really decided was the moment when I really decided that I had to look at this issue much that I had to look at this issue much that I had to look at this issue much much more seriously um and that's why I much more seriously um and that's why I much more seriously um and that's why I I I I've looked at the generation and I I I I've looked at the generation and I I I I've looked at the generation and I I think that you know the the way in I think that you know the the way in I think that you know the the way in which the generations have split they've which the generations have split they've which the generations have split they've become polarized U it's it's it's a it's become polarized U it's it's it's a it's become polarized U it's it's it's a it's Silo uh in in many ways and tribes have

Silo uh in in many ways and tribes have Silo uh in in many ways and tribes have been formed you know the Zoomers think been formed you know the Zoomers think been formed you know the Zoomers think that Boomers don't don't want to do any that Boomers don't don't want to do any that Boomers don't don't want to do any work that they're factless that they work that they're factless that they work that they're factless that they want to go traveling and the Zoomers want to go traveling and the Zoomers want to go traveling and the Zoomers think that the that the boomers are sort think that the that the boomers are sort think that the that the boomers are sort of you know analog types who have no of you know analog types who have no of you know analog types who have no emotional intelligence don't understand emotional intelligence don't understand emotional intelligence don't understand that they've polluted the world and that they've polluted the world and that they've polluted the world and stripped the a acids and kept it away stripped the a acids and kept it away stripped the a acids and kept it away from them we have to address that divide from them we have to address that divide from them we have to address that divide and that is the key absolutely key and that is the key absolutely key and that is the key absolutely key calling of the church in the Next calling of the church in the Next calling of the church in the Next Generation what happens if you're a Generation what happens if you're a Generation what happens if you're a millennial or a gen Z who doesn't get an millennial or a gen Z who doesn't get an millennial or a gen Z who doesn't get an inheritance you know suddenly you've got inheritance you know suddenly you've got inheritance you know suddenly you've got a circle of 10 a circle of 10 a circle of 10 friends three four of them receive friends three four of them receive friends three four of them receive Millions tens of millions of dollars Millions tens of millions of dollars Millions tens of millions of dollars when Mom and Dad pass away and you're when Mom and Dad pass away and you're when Mom and Dad pass away and you're left at your $50,000 a year job toiling left at your $50,000 a year job toiling left at your $50,000 a year job toiling away what kind of inequality do you away what kind of inequality do you away what kind of inequality do you think or tension might that introduce a think or tension might that introduce a think or tension might that introduce a decade down the decade down the decade down the road well K was ever thus it's an unfair road well K was ever thus it's an unfair road well K was ever thus it's an unfair World we're not all made equal um you World we're not all made equal um you World we're not all made equal um you know it's um we are talking about a a know it's um we are talking about a a know it's um we are talking about a a particular grouping of people with that particular grouping of people with that particular grouping of people with that uh that will be uh inheriting of this uh that will be uh inheriting of this uh that will be uh inheriting of this kind but the interesting thing is all kind but the interesting thing is all kind but the interesting thing is all the way down even to sort of you know the way down even to sort of you know the way down even to sort of you know sort of working working people middle

sort of working working people middle sort of working working people middle class people there'll be a home to hand class people there'll be a home to hand class people there'll be a home to hand over there there's something there to over there there's something there to over there there's something there to look forward to all all the way down but look forward to all all the way down but look forward to all all the way down but it there is no there is always going to it there is no there is always going to it there is no there is always going to be a a problem you know I've I'm on a be a a problem you know I've I'm on a be a a problem you know I've I'm on a fixed salary and I look at somebody else fixed salary and I look at somebody else fixed salary and I look at somebody else who's inherit who's inherit who's inherit nothing has changed human nature will nothing has changed human nature will nothing has changed human nature will always be tempted to envy and the Ten always be tempted to envy and the Ten always be tempted to envy and the Ten Commandments need to be drawn together Commandments need to be drawn together Commandments need to be drawn together we all have different things that we we all have different things that we we all have different things that we Envy um I sort of Envy the creativity Envy um I sort of Envy the creativity Envy um I sort of Envy the creativity and the excitement and the energy of and the excitement and the energy of and the excitement and the energy of young people they may create have a young people they may create have a young people they may create have a different Envy so I'm afraid it's The different Envy so I'm afraid it's The different Envy so I'm afraid it's The Human Condition it is a human condition Human Condition it is a human condition Human Condition it is a human condition any thoughts on what might happen to the any thoughts on what might happen to the any thoughts on what might happen to the middle class A decade or 20 years from middle class A decade or 20 years from middle class A decade or 20 years from now I don't really accept I'm I'm quite now I don't really accept I'm I'm quite now I don't really accept I'm I'm quite I'd be quite excited by it because I I'd be quite excited by it because I I'd be quite excited by it because I think that technology is going to be think that technology is going to be think that technology is going to be empowering rather than destructive so empowering rather than destructive so empowering rather than destructive so you're not worried about you're not worried about you're not worried about AI or no no no not at all tell me why no AI or no no no not at all tell me why no AI or no no no not at all tell me why no well because I think it's that's an well because I think it's that's an well because I think it's that's an enabler it'll create new opportunities enabler it'll create new opportunities enabler it'll create new opportunities any more than anybody was worried about any more than anybody was worried about any more than anybody was worried about the Industrial Revolution um because it the Industrial Revolution um because it the Industrial Revolution um because it created a train um and what would happen created a train um and what would happen created a train um and what would happen to the horses and we would get to places to the horses and we would get to places to the horses and we would get to places more rapidly if we got there more more rapidly if we got there more more rapidly if we got there more rapidly what would we do with our time rapidly what would we do with our time rapidly what would we do with our time so I think there there will probably be so I think there there will probably be so I think there there will probably be and sort of a series of adjustments I and sort of a series of adjustments I and sort of a series of adjustments I think politicians will have real think politicians will have real think politicians will have real difficulties um you know there's a lot difficulties um you know there's a lot difficulties um you know there's a lot of discussion about the of discussion about the of discussion about the universal basic income that might might

universal basic income that might might universal basic income that might might take uh might take uh take place um uh take uh might take uh take place um uh take uh might take uh take place um uh and it may be the right thing to do but and it may be the right thing to do but and it may be the right thing to do but what we have to ensure is that we are what we have to ensure is that we are what we have to ensure is that we are not going to take away not going to take away not going to take away the basis of the market economy we have the basis of the market economy we have the basis of the market economy we have to remember that yes this is a to remember that yes this is a to remember that yes this is a generation that has great generation that has great generation that has great values but we can't let the the the the values but we can't let the the the the values but we can't let the the the the bath baby of values be thrown out with bath baby of values be thrown out with bath baby of values be thrown out with the bathwater of value at the end of the the bathwater of value at the end of the the bathwater of value at the end of the day what I talk about is talking about day what I talk about is talking about day what I talk about is talking about socially energized Capital socially socially energized Capital socially socially energized Capital socially energized capitalism uh is still energized capitalism uh is still energized capitalism uh is still capitalism risk reward performance yeah capitalism risk reward performance yeah capitalism risk reward performance yeah um is still essential part to to the um is still essential part to to the um is still essential part to to the balance between both the socially balance between both the socially balance between both the socially energized peace uh and and and I then I energized peace uh and and and I then I energized peace uh and and and I then I me I think this battle between the me I think this battle between the me I think this battle between the generations The Clash of generations The Clash of generations The Clash of generations is is the is an essential generations is is the is an essential generations is is the is an essential pastoral need for the church to to pastoral need for the church to to pastoral need for the church to to address because it's going to happen the address because it's going to happen the address because it's going to happen the the Envy will grow um the Aging the Envy will grow um the Aging the Envy will grow um the Aging population will mean a younger population will mean a younger population will mean a younger generation doesn't come into what they generation doesn't come into what they generation doesn't come into what they hope would be some help or further hope would be some help or further hope would be some help or further inheritance all those inheritance all those inheritance all those issues um it makes a real difference uh issues um it makes a real difference uh issues um it makes a real difference uh and so I think that we what we need to and so I think that we what we need to and so I think that we what we need to do is what I what the rest of the book

do is what I what the rest of the book do is what I what the rest of the book the solution that I offer for the 100 the solution that I offer for the 100 the solution that I offer for the 100 million trillion transfer is is the million trillion transfer is is the million trillion transfer is is the little word two words called Co um they little word two words called Co um they little word two words called Co um they just two two two letters Co now you know just two two two letters Co now you know just two two two letters Co now you know about co-investing co-- living co-work about co-investing co-- living co-work about co-investing co-- living co-work um but what we need we haven't had a um but what we need we haven't had a um but what we need we haven't had a philosophical um coming together what I philosophical um coming together what I philosophical um coming together what I call C- Destiny and co- Destiny is where call C- Destiny and co- Destiny is where call C- Destiny and co- Destiny is where the generations instead of becoming The the generations instead of becoming The the generations instead of becoming The Clash of generations becomes the the Clash of generations becomes the the Clash of generations becomes the the cooperation of the generations such that cooperation of the generations such that cooperation of the generations such that we work together at the common destiny we work together at the common destiny we work together at the common destiny that we have uh on this planet and that that we have uh on this planet and that that we have uh on this planet and that piece is again that I think it'll be piece is again that I think it'll be piece is again that I think it'll be happening in every Church there will be happening in every Church there will be happening in every Church there will be either the UN you know the unarticulated either the UN you know the unarticulated either the UN you know the unarticulated or the articulated Rumblings of the or the articulated Rumblings of the or the articulated Rumblings of the different Generations oh we the different Generations oh we the different Generations oh we the Millennials don't want to go to church Millennials don't want to go to church Millennials don't want to go to church they don't want to they're leaving the they don't want to they're leaving the they don't want to they're leaving the church we we can't reach the Millennials church we we can't reach the Millennials church we we can't reach the Millennials oh so the older generation they don't oh so the older generation they don't oh so the older generation they don't know what it's like to be sort of know what it's like to be sort of know what it's like to be sort of committed and they just want everything committed and they just want everything committed and they just want everything goes and it's my Truth Versus real truth goes and it's my Truth Versus real truth goes and it's my Truth Versus real truth I mean you know the you you know the I mean you know the you you know the I mean you know the you you know the caricature but we have got a common a caricature but we have got a common a caricature but we have got a common a co- destiny that we need to work co- destiny that we need to work co- destiny that we need to work together together together um and how you know and that's what we um and how you know and that's what we um and how you know and that's what we need to explore is to how we do that need to explore is to how we do that need to explore is to how we do that yeah and I guess that's my question that yeah and I guess that's my question that yeah and I guess that's my question that goes back to the third point you raised goes back to the third point you raised goes back to the third point you raised at the very beginning which how at the very beginning which how at the very beginning which how important it is to have someone to talk important it is to have someone to talk important it is to have someone to talk to about how to handle money and I got to about how to handle money and I got to about how to handle money and I got to say as a young adult that was to say as a young adult that was to say as a young adult that was something I tried to get all through my

something I tried to get all through my something I tried to get all through my 30s but didn't 30s but didn't 30s but didn't really discover the right formula the really discover the right formula the really discover the right formula the right people until my 40s and honestly right people until my 40s and honestly right people until my 40s and honestly once I got an opportunity to talk to once I got an opportunity to talk to once I got an opportunity to talk to somebody who understood money who who somebody who understood money who who somebody who understood money who who understood my priorities my values it understood my priorities my values it understood my priorities my values it got so much easier so when you think got so much easier so when you think got so much easier so when you think about um the co- Destiny and actually about um the co- Destiny and actually about um the co- Destiny and actually Generations working together how would Generations working together how would Generations working together how would you set that up does that because I mean you set that up does that because I mean you set that up does that because I mean once the once the transfer has been made once the once the transfer has been made once the once the transfer has been made is that something the next generation's is that something the next generation's is that something the next generation's going to be looking for how would you going to be looking for how would you going to be looking for how would you Foster that sure well that's a key Foster that sure well that's a key Foster that sure well that's a key question and it's a very important one question and it's a very important one question and it's a very important one uh so so what I'd say is this is for Our uh so so what I'd say is this is for Our uh so so what I'd say is this is for Our Generation uh it it needs to have Generation uh it it needs to have Generation uh it it needs to have finding opportunities both to coach to finding opportunities both to coach to finding opportunities both to coach to mentor to invest to work mentor to invest to work mentor to invest to work alongside um the Next Generation the alongside um the Next Generation the alongside um the Next Generation the Boomers they're all looking for new new Boomers they're all looking for new new Boomers they're all looking for new new apps new ways of uh of of investing new apps new ways of uh of of investing new apps new ways of uh of of investing new ways of dis ways of dis ways of dis intermediating uh the existing um uh intermediating uh the existing um uh intermediating uh the existing um uh structures of of the economy but they structures of of the economy but they structures of of the economy but they need the wisdom of an older generation need the wisdom of an older generation need the wisdom of an older generation so my first thing is to the older so my first thing is to the older so my first thing is to the older persons say Seek out the opportunities persons say Seek out the opportunities persons say Seek out the opportunities where the guys particularly those that where the guys particularly those that where the guys particularly those that are starting up businesses it it's also are starting up businesses it it's also are starting up businesses it it's also true of course to those who are in paid true of course to those who are in paid true of course to those who are in paid employment without the you know the employment without the you know the employment without the you know the startups but but but but concentrating startups but but but but concentrating startups but but but but concentrating on that on the other side of it it is

on that on the other side of it it is on that on the other side of it it is that for the Zoomers to recognize that that for the Zoomers to recognize that that for the Zoomers to recognize that there is something that can be gained by there is something that can be gained by there is something that can be gained by them working together with and them working together with and them working together with and co-investing I I see no reason why co-investing I I see no reason why co-investing I I see no reason why churches wouldn't be able to be able to churches wouldn't be able to be able to churches wouldn't be able to be able to organize those things where people are organize those things where people are organize those things where people are retiring when they 60 or 70 and are retiring when they 60 or 70 and are retiring when they 60 or 70 and are perfectly capable of another 10 15 years perfectly capable of another 10 15 years perfectly capable of another 10 15 years of useful Life Society just sort of of useful Life Society just sort of of useful Life Society just sort of turns them out the church could get turns them out the church could get turns them out the church could get around those and say look we'd like you around those and say look we'd like you around those and say look we'd like you to Mentor You' been an accountant Mentor to Mentor You' been an accountant Mentor to Mentor You' been an accountant Mentor these younger guys help them in their these younger guys help them in their these younger guys help them in their finances so you can be much more active finances so you can be much more active finances so you can be much more active um in the pulling together of the co um in the pulling together of the co um in the pulling together of the co Destinies that that we would have and Destinies that that we would have and Destinies that that we would have and then I think particularly for the then I think particularly for the then I think particularly for the Boomers it has to be uh to recognize Boomers it has to be uh to recognize Boomers it has to be uh to recognize that this generation has got a serious that this generation has got a serious that this generation has got a serious um way of wanting to govern the future um way of wanting to govern the future um way of wanting to govern the future to view the future um when we need to to view the future um when we need to to view the future um when we need to respect them and and not just think of respect them and and not just think of respect them and and not just think of of being an entitled group of uh of of of being an entitled group of uh of of of being an entitled group of uh of of of uh of spoiled a spoiled generation of uh of spoiled a spoiled generation of uh of spoiled a spoiled generation but a real but a real but a real generation uh that actually is asking generation uh that actually is asking generation uh that actually is asking some seriously important questions of some seriously important questions of some seriously important questions of the future of humanity and once we treat the future of humanity and once we treat the future of humanity and once we treat them with that respect I think we begin them with that respect I think we begin them with that respect I think we begin to get the co- Destiny working together to get the co- Destiny working together to get the co- Destiny working together which is why I think it's so critical uh which is why I think it's so critical uh which is why I think it's so critical uh in the churches and therefore the in the churches and therefore the in the churches and therefore the hundred trillion dollar transfer is not hundred trillion dollar transfer is not hundred trillion dollar transfer is not just an academic book for Bankers it's

just an academic book for Bankers it's just an academic book for Bankers it's it really does cut across every piece of it really does cut across every piece of it really does cut across every piece of our our our society when you think about all the society when you think about all the society when you think about all the money that is going to be transferred money that is going to be transferred money that is going to be transferred from one generation to the next to what from one generation to the next to what from one generation to the next to what extent are boomers and even Gen X who extent are boomers and even Gen X who extent are boomers and even Gen X who are now you know pushing 60 on the front are now you know pushing 60 on the front are now you know pushing 60 on the front end to what extent are they remembering end to what extent are they remembering end to what extent are they remembering the kingdom or churches in their estate the kingdom or churches in their estate the kingdom or churches in their estate planning do you have any stats on that planning do you have any stats on that planning do you have any stats on that or is it pretty much all just going to or is it pretty much all just going to or is it pretty much all just going to the the the kids I don't and I I and a lot of it kids I don't and I I and a lot of it kids I don't and I I and a lot of it will depend on the way in which they will depend on the way in which they will depend on the way in which they were brought up yeah um so that those were brought up yeah um so that those were brought up yeah um so that those that those that have been generous that those that have been generous that those that have been generous whilst they were alive paying their whilst they were alive paying their whilst they were alive paying their tithes their contributions to the tithes their contributions to the tithes their contributions to the churches bind LS feel that they would churches bind LS feel that they would churches bind LS feel that they would have done what their generation should have done what their generation should have done what their generation should have done and that the Next Generation have done and that the Next Generation have done and that the Next Generation should take on the growth of of of the should take on the growth of of of the should take on the growth of of of the of the churches in the communities in of the churches in the communities in of the churches in the communities in which they're which they're which they're operating um but I think that uh that I operating um but I think that uh that I operating um but I think that uh that I mean I don't have the statistics to to mean I don't have the statistics to to mean I don't have the statistics to to see whether the legacies are that they see whether the legacies are that they see whether the legacies are that they would want to do that um that's would want to do that um that's would want to do that um that's something to to think through my my something to to think through my my something to to think through my my sense is that that's not happening for sense is that that's not happening for sense is that that's not happening for the most part it used to happen like I the most part it used to happen like I the most part it used to happen like I grew up Mainline and and that was very grew up Mainline and and that was very grew up Mainline and and that was very typical in declining Mainline churches I typical in declining Mainline churches I typical in declining Mainline churches I don't see it as typical in Evangelical don't see it as typical in Evangelical don't see it as typical in Evangelical growing non- denominational churches I growing non- denominational churches I growing non- denominational churches I don't no that's partly because it's a

don't no that's partly because it's a don't no that's partly because it's a view that the Next Generation should be view that the Next Generation should be view that the Next Generation should be the ones after all they're going to have the ones after all they're going to have the ones after all they're going to have the Legacy of the finances they should the Legacy of the finances they should the Legacy of the finances they should be the ones that actually support the be the ones that actually support the be the ones that actually support the communities in the churches that where communities in the churches that where communities in the churches that where they where they feel comfortable so it's they where they feel comfortable so it's they where they feel comfortable so it's a in a sense there is an altruism to it a in a sense there is an altruism to it a in a sense there is an altruism to it which says you know you are going to which says you know you are going to which says you know you are going to benefit from this transfer but you need benefit from this transfer but you need benefit from this transfer but you need to be responsible for the churches in to be responsible for the churches in to be responsible for the churches in which you are operating and the which you are operating and the which you are operating and the communities that you want strengthened I communities that you want strengthened I communities that you want strengthened I think the one exception I see to that is think the one exception I see to that is think the one exception I see to that is uh Donor advised funds or family trusts uh Donor advised funds or family trusts uh Donor advised funds or family trusts that that are being set up particularly that that are being set up particularly that that are being set up particularly in the United States and a donor advise in the United States and a donor advise in the United States and a donor advise fund money just goes there you get the fund money just goes there you get the fund money just goes there you get the tax right off and then it gets um tax right off and then it gets um tax right off and then it gets um distributed often to charities in distributed often to charities in distributed often to charities in different points but this whole idea different points but this whole idea different points but this whole idea that I'm going to leave you know half a that I'm going to leave you know half a that I'm going to leave you know half a million or a million dollars to church million or a million dollars to church million or a million dollars to church act I don't see as much as as part of act I don't see as much as as part of act I don't see as much as as part of that any other thoughts on um what that any other thoughts on um what that any other thoughts on um what churches can do to help people get ready churches can do to help people get ready churches can do to help people get ready for this massive transfer in the next for this massive transfer in the next for this massive transfer in the next decade well I think the first thing to decade well I think the first thing to decade well I think the first thing to recognize it's already happening um and recognize it's already happening um and recognize it's already happening um and so this is not some some far off event so this is not some some far off event so this is not some some far off event and therefore there are two sides to it and therefore there are two sides to it and therefore there are two sides to it one is the um the boomer generation all one is the um the boomer generation all one is the um the boomer generation all of whom are thinking these very thoughts of whom are thinking these very thoughts of whom are thinking these very thoughts um you know what do we leave to the um you know what do we leave to the um you know what do we leave to the children do we leave it in a trust do we children do we leave it in a trust do we children do we leave it in a trust do we control it do we give it to them now do control it do we give it to them now do control it do we give it to them now do we wait Etc so all of that is a we wait Etc so all of that is a we wait Etc so all of that is a discussion probably amongst the group of

discussion probably amongst the group of discussion probably amongst the group of people where a professional can help to people where a professional can help to people where a professional can help to just people think through those those just people think through those those just people think through those those those those ideas I think the second those those ideas I think the second those those ideas I think the second part of it is for the for the churches part of it is for the for the churches part of it is for the for the churches to actually not be afraid of talking to actually not be afraid of talking to actually not be afraid of talking about money about money about money responsibility uh investing as part of responsibility uh investing as part of responsibility uh investing as part of the curriculum of life I mean the the curriculum of life I mean the the curriculum of life I mean the problem is that we you know when you problem is that we you know when you problem is that we you know when you when you ask a gen any of the the zenial when you ask a gen any of the the zenial when you ask a gen any of the the zenial you know you know what how you do life you know you know what how you do life you know you know what how you do life they do life in an integrated way they do life in an integrated way they do life in an integrated way spiritually financially emotionally it's spiritually financially emotionally it's spiritually financially emotionally it's a caring sharing staring generation a caring sharing staring generation a caring sharing staring generation staring at at devices but they are staring at at devices but they are staring at at devices but they are caring and sharing so there is a there caring and sharing so there is a there caring and sharing so there is a there is a lot there that one can work on if is a lot there that one can work on if is a lot there that one can work on if only it one is the realization that only it one is the realization that only it one is the realization that actually this is part of life it's not actually this is part of life it's not actually this is part of life it's not just a milk car to get some money to run just a milk car to get some money to run just a milk car to get some money to run a church it is actually part of the a church it is actually part of the a church it is actually part of the healthy church that those that are older healthy church that those that are older healthy church that those that are older perhaps you know sort of coaches can perhaps you know sort of coaches can perhaps you know sort of coaches can work with uh the that next Generation Um work with uh the that next Generation Um work with uh the that next Generation Um so that I that I think is a is a very a so that I that I think is a is a very a so that I that I think is a is a very a clear plan that can be developed by clear plan that can be developed by clear plan that can be developed by pastors anywhere whether or not this pastors anywhere whether or not this pastors anywhere whether or not this huge transfer takes place or not huge transfer takes place or not huge transfer takes place or not everybody needs some degree of financial everybody needs some degree of financial everybody needs some degree of financial literacy otherwise you know you lose it literacy otherwise you know you lose it literacy otherwise you know you lose it all compounding comes back to to to that all compounding comes back to to to that all compounding comes back to to to that uh that essential part of learning to

uh that essential part of learning to uh that essential part of learning to financially be dis disciplined about the financially be dis disciplined about the financially be dis disciplined about the future if you could wave a magic wand future if you could wave a magic wand future if you could wave a magic wand which you know we don't believe in but which you know we don't believe in but which you know we don't believe in but just theoretically a magic wand and have just theoretically a magic wand and have just theoretically a magic wand and have any particular outcome engineered for any particular outcome engineered for any particular outcome engineered for this transfer what would you most want this transfer what would you most want this transfer what would you most want to to to see oh what I most want to see without see oh what I most want to see without see oh what I most want to see without any doubt is that the generations come any doubt is that the generations come any doubt is that the generations come together the co- Destiny is becomes the together the co- Destiny is becomes the together the co- Destiny is becomes the linkage that we're all part of the same linkage that we're all part of the same linkage that we're all part of the same body one may be an arm one may be a leg body one may be an arm one may be a leg body one may be an arm one may be a leg uh you know one may be a heart to remind uh you know one may be a heart to remind uh you know one may be a heart to remind uh that actually there is that the uh that actually there is that the uh that actually there is that the church shows that in co- Destiny it is church shows that in co- Destiny it is church shows that in co- Destiny it is able to Marshall the whole person able to Marshall the whole person able to Marshall the whole person financially emotionally spiritually uh financially emotionally spiritually uh financially emotionally spiritually uh and culturally drawn in to be able to and culturally drawn in to be able to and culturally drawn in to be able to benefit the communities in which we're benefit the communities in which we're benefit the communities in which we're operating because nothing is going to operating because nothing is going to operating because nothing is going to survive that will uh into that next survive that will uh into that next survive that will uh into that next Generation that will be lasting if we do Generation that will be lasting if we do Generation that will be lasting if we do not ReDiscover what it is to be a not ReDiscover what it is to be a not ReDiscover what it is to be a Community um the individualism the Community um the individualism the Community um the individualism the loneliness that I refer to uh in our loneliness that I refer to uh in our loneliness that I refer to uh in our books the way in the book the way in books the way in the book the way in books the way in the book the way in which people become which people become which people become isolated um you know sort of disruptive isolated um you know sort of disruptive isolated um you know sort of disruptive technology who is going to talk about technology who is going to talk about technology who is going to talk about compassionate disruption we need to have compassionate disruption we need to have compassionate disruption we need to have a dialogue a a dialogue a a dialogue a conversation uh regularly and every day conversation uh regularly and every day conversation uh regularly and every day because that is becomes the essence of because that is becomes the essence of because that is becomes the essence of the community but the problem is that the community but the problem is that the community but the problem is that the churches have defined their the churches have defined their the churches have defined their responsibility as being purely spiritual

responsibility as being purely spiritual responsibility as being purely spiritual um or on some occasions political but we um or on some occasions political but we um or on some occasions political but we won't go won't go won't go there actually you can actually draw there actually you can actually draw there actually you can actually draw together you know what do we need to do together you know what do we need to do together you know what do we need to do life together uh in a hostile and very life together uh in a hostile and very life together uh in a hostile and very rapidly changing world that is an hugely rapidly changing world that is an hugely rapidly changing world that is an hugely exciting prospect for the hindsight of exciting prospect for the hindsight of exciting prospect for the hindsight of the older generation the Insight of the the older generation the Insight of the the older generation the Insight of the new generation and that foresight that new generation and that foresight that new generation and that foresight that will create these stable happy will create these stable happy will create these stable happy purpose-driven purpose-driven purpose-driven communities you've got tens of thousands communities you've got tens of thousands communities you've got tens of thousands of gen Z Millennials listening right now of gen Z Millennials listening right now of gen Z Millennials listening right now give them your best pie piece of advice give them your best pie piece of advice give them your best pie piece of advice if this money comes to you when this if this money comes to you when this if this money comes to you when this money comes to you here's what I think money comes to you here's what I think money comes to you here's what I think you should pay attention you should pay attention you should pay attention to well I think what you should pay to well I think what you should pay to well I think what you should pay attention to uh is the long-term attention to uh is the long-term attention to uh is the long-term planning you know don't think that it's planning you know don't think that it's planning you know don't think that it's just going to be that to be a you know just going to be that to be a you know just going to be that to be a you know you know buy the car if you have to to you know buy the car if you have to to you know buy the car if you have to to get it out of the system depending what get it out of the system depending what get it out of the system depending what age it is but take the longer term age it is but take the longer term age it is but take the longer term recognizing that uh that over a period recognizing that uh that over a period recognizing that uh that over a period of time uh you need to provide for you of time uh you need to provide for you of time uh you need to provide for you for a future family but always recognize for a future family but always recognize for a future family but always recognize that you will never outdo God on the that you will never outdo God on the that you will never outdo God on the upside if you're faithful in providing upside if you're faithful in providing upside if you're faithful in providing even if you're starting small and start even if you're starting small and start even if you're starting small and start adding pieces to to uh you know bits adding pieces to to uh you know bits adding pieces to to uh you know bits every year to the giving that you're every year to the giving that you're every year to the giving that you're giving to your local church I think giving to your local church I think giving to your local church I think firstly but also to the other Charities

firstly but also to the other Charities firstly but also to the other Charities but this is what I always say is this be but this is what I always say is this be but this is what I always say is this be quite sure that you treat your quite sure that you treat your quite sure that you treat your Investments uh equally in other words Investments uh equally in other words Investments uh equally in other words that the charitable giving is also an that the charitable giving is also an that the charitable giving is also an investment when we stand before God at investment when we stand before God at investment when we stand before God at one day all of us will yes you can open one day all of us will yes you can open one day all of us will yes you can open up your your account with your bank and up your your account with your bank and up your your account with your bank and and your investment account but you also and your investment account but you also and your investment account but you also want to open up your charity account how want to open up your charity account how want to open up your charity account how did I invest uh in this particular did I invest uh in this particular did I invest uh in this particular charity what time did I give what energy charity what time did I give what energy charity what time did I give what energy did I give what money did I give and did I give what money did I give and did I give what money did I give and treat it like a normal investment such treat it like a normal investment such treat it like a normal investment such that you can see this the coming that you can see this the coming that you can see this the coming together of finance and the and purpose together of finance and the and purpose together of finance and the and purpose uh in in the way in which you do life uh in in the way in which you do life uh in in the way in which you do life and in the way in which you do life with and in the way in which you do life with and in the way in which you do life with other people you cannot do it on your other people you cannot do it on your other people you cannot do it on your own that great African saying which I own that great African saying which I own that great African saying which I come from my South African background of come from my South African background of come from my South African background of B to I am because of you uh I am because B to I am because of you uh I am because B to I am because of you uh I am because of you you know is it's the linkage that of you you know is it's the linkage that of you you know is it's the linkage that creates the the the the visible sign of creates the the the the visible sign of creates the the the the visible sign of the kingdom of God will be these the kingdom of God will be these the kingdom of God will be these integrated communities that are you know integrated communities that are you know integrated communities that are you know working together doing life together and working together doing life together and working together doing life together and and living out uh the the the the great and living out uh the the the the great and living out uh the the the the great joy of the joy of the joy of the Gospel Ken I want to thank you so much I Gospel Ken I want to thank you so much I Gospel Ken I want to thank you so much I really appreciate the conversation and really appreciate the conversation and really appreciate the conversation and the book is called The 100 trillion with the book is called The 100 trillion with the book is called The 100 trillion with a te dollar wealth transfer can uh books

a te dollar wealth transfer can uh books a te dollar wealth transfer can uh books available widely wherever books are sold available widely wherever books are sold available widely wherever books are sold where can people find out more or where can people find out more or where can people find out more or connect with you online what's a good connect with you online what's a good connect with you online what's a good site or social media yeah yeah Ken site or social media yeah yeah Ken site or social media yeah yeah Ken costa.com or books from costa.com or books from costa.com or books from Amazon um whichever that's fantastic Ken Amazon um whichever that's fantastic Ken Amazon um whichever that's fantastic Ken till next time thank you so much Harry till next time thank you so much Harry till next time thank you so much Harry thank you as ever