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MONEY WITHOUT MATH
We're exploring how money exists in our real, daily lives, not just as numbers on a chart. From managing our emotions to caring for an aging parent, join us for conversations that are practical, sometimes philosophical, and always fresh.
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MONEY WITHOUT MATH
Inheritocracy: When Family Wealth Matters More Than Your Paycheck with Dr. Eliza Filby
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Historian and generational expert Dr. Eliza Filby, author of Inheritocracy: It's Time to Talk About the Bank of Mum and Dad, joins Karen Coyne to explore why economic outcomes increasingly depend more on access to parental support and less on income or education. An estimated $80-$120 trillion is set to pass from Baby Boomers down family trees over the next two decades, but this transfer is lumpy, complicated, and loaded with unspoken expectations.
Together, they dive into the uncomfortable details: why parenting has become a 30-year financial commitment, how parental support can quietly erode a young person's drive and resilience, and the very real control dynamics that come with financial help, even when everyone calls it a "gift." They also talk about the families getting this right, including a father who turned the Bank of Mom and Dad into an actual bank.
Dr. Filby also brings in the gender dimension, as women tend to gift earlier, take fewer financial risks, and carry the care burden as parents age. She makes a strong argument for why these conversations can't just happen between the patriarch and a financial advisor on a golf course.
For families navigating support, inheritance, or just trying to figure out how to talk about money across generations, this one is worth a full listen.
In this episode:
0:00 – What is an inheritocracy?
3:30 – The great wealth transfer and why it's uneven
7:00 – Why young adults are still financially dependent
9:45 – Housing, wages, and what actually got expensive
14:00 – When parental support becomes reckless
17:00 – The connection between financial help and resilience
19:45 – AI, work, and why Gen Z questions the career ladder
20:10 – Control, obligation, and the strings on "gifts"
26:10 – How to start these conversations in your family
29:00 – Prenups and the mass affluent
33:00 – Gender and who holds the emotional vs financial power
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