How Smart Parents Are Giving Wealth to Their Kids Now | Justin Powell

In this eye-opening conversation, Ohio businessman Justin Powell joins Aaron Renn to discuss his viral article “Dying to Give” — why waiting until death to pass on wealth is often the wrong move, and how thoughtful, early giving can build stronger families, businesses, and communities.

Justin shares powerful real-life stories: a multi-generation gravel pit owner who’s deliberately preserving two generations of reserves for his sons instead of chasing short-term profits, how he set his teenage boys up with $3,000 each to start lawn-mowing businesses (one made $35K in a summer), and why small, strategic investments at key “choke points” (home down payments, first business capital, financial literacy) can change the trajectory of a young person’s life forever.

Together they explore:
- The massive $85 trillion wealth transfer happening over the next 20 years
- Why asset ownership (homes, businesses, land) is becoming harder — and more important — than ever
- How parents and grandparents can give wisely without spoiling kids
- Balancing prudence (longevity, healthcare risks) with bold generosity and trust in God’s provision
- Real examples of leverage points where $5K–$20K today creates massive long-term impact

Whether you’re a parent, grandparent, business owner, or young person trying to get on the ownership ladder, this episode challenges the default “you’ll get it when I die” mindset and offers a better way forward.

Read Justin's entire "Dying to Give" article: https://www.aaronrenn.com/p/dying-to-give

CHAPTERS
(0:00 Introduction)
(1:26 The gravel pit family story: preserving two generations of reserves)
(4:41 Setting kids up early — $3K investment → $35K summer earnings)
(7:06 The mindset shift: prepare them now, not just at death)
(9:06 The $85 trillion wealth transfer wave)
(10:53 Upper-class family subsidies vs. the ownership ladder struggle)
(13:24 Choke points: down payments, first businesses, college debt)
(16:00 Timing matters — home equity winners vs. renters)
(19:00 Wisdom over coercion: guiding adult children with small gifts)
(21:52 Billionaire’s car test & financial literacy approach)
(23:51 Prudence vs. catastrophe planning: when to give boldly)
(26:58 Time, talent, and treasure — character over cash)