Hold Me Back Podcast: For Love or Money

The boys welcome their first expert guest, Mark Lush, as they tackle the topic that makes the world go round – money. Aidan and Ash explore what it means to have a healthy relationship with money and whether their generations share a common perspective. All in this week’s episode of Hold Me Back. Listen to the episode on Apple Podcasts, Spotify, Google Podcasts, and your other favorite podcast platforms.

• Episode Summary & Player
• Show Notes
• Hold Me Back Summary

For Love or Money

The boys welcome their first expert guest, Mark Lush, as they tackle the topic that makes the world go round – money. Aidan and Ash explore what it means to have a healthy relationship with money and whether their generations share a common perspective. Should Gen X tell their children to follow their passion or that money will buy them happiness? Is that even the right question? The research might shock you. Is there truly a “price of privilege?” And how transparent should parents be with their kids about their finances? You’ll be surprised what’s revealed in this in-depth episode. This episode covers everything from Taco Bell to pursuing your passion at dinner. Here’s a small sample of what you will hear in this episode:

• What is the impact of this topic for Aidan & Ash today?
• Can money buy happiness?
• Should you chase your passion or money?
• Aidan’s Passion vs. Money Spectrum
• How much would you have to pay Aidan to work with kids?
• How should parents educate kids on finance & money?
• What biases exist when it comes to following your passion or chasing money?
• Will Ash support Aidan in his beliefs on money?

Who was more convincing: Aidan or Ash? Vote at the bottom of this post.

Enjoy the show! Check out the show notes below for much more detail.

Show Notes

• Intro to For Love or Money
• [0:16] Welcome to Hold Me Back
• [0:21] Meet Aidan (Gen Z) & Ash (Gen X)
• [0:38] Boomers
• [0:51] Where did the topic of love or money come from?
• [2:08] What areas do we need to update the new Social Contract for?
• [2:34] Podcasts
• [3:13] What is the impact of this topic for Aidan & Ash today?
• [4:11] Anxiety
• [4:31] Demographic, Psychographic
• What does the research tell us about love and money?
• [5:12] Who is Mark Lush?
• [5:40] Behavioral and Economic Analysis and Decision-making (BEAD)
• [5:54] NORC (National Opinion Research Center)
• [6:02] Oberlin College
• [6:22] The Wall Street Journal, The New York Times, CNBC
• [6:42] Can money buy happiness?
• [7:12] “Money can buy happiness: Here’s how much you need and how to spend it, according to a financial therapist“
• [8:41] “It Seems Money Does Buy Happiness After All“
• [9:08] Prof. Dan Gilbert — The Science of Happiness: What Your Mother Didn’t Tell You
• [11:31] Mark Lush on Money & Happiness
• [13:06] Starbucks, Starbucks Points
• [13:14] Life Creep
• [13:46] Mark Lush on the Hedonic Treadmill
• [16:03] The Ten Worlds: The New Psychology of Happiness by Ash EldDifrawi & Alex Lickerman
• [17:22] Should you chase your passion or money?
• [17:58] The Algebra of Happiness by Scott Galloway
• [18:07] Scott Galloway on follow your passion
• [21:28] Teachers vs. Investment Bankers (I-Bankers)
• [22:05] Aidan’s Passion vs. Money Spectrum
• [22:26] How much would you have to pay Aidan to work with kids?
• [22:41] Clients
• [22:48] Mark Lush on why high-paying jobs are viewed as more successful
• [23:58] “We Need To Rethink Encouraging Our Teens To ‘Follow Your Passion‘”
• [26:29] Mark Cuban
• [26:52] Mark Lush on Parents & Money
• [27:58] “‘Following Your Passion’ Is Dead – Here’s What To Replace It With“
• [31:18] How should parents educate kids on finance & money?
• [32:09] “The Smart Way to Teach Children About Money“
• [33:12] Investment Income
• [34:10] Income vs. Debt
• [35:41] Sex Ed
• What misconceptions do previous generations have about money?
• [36:28] What biases exist when it comes to following your passion or chasing money?
• [37:18] How do parents approach advising their children on their career choice?
• [39:32] The University of Chicago
• [39:44] Psychology, Management Consultant, Marketing
• [40:01] Google, McKinsey & Company
• [40:12] Why did Ash change up his career?
• [41:18] Mark Lush on Work & Love
• [44:46] Why is unhealthy to do something that makes you happy and has the potential to make money?
• [45:04] Guy Fieri, Food Network
• [45:45] Hedonic Happiness vs. Eudaimonic Happiness
• [46:50] Materialism
• [47:16] Bill & Melinda Gates Foundation, Warren Buffett Foundation, Elon Musk, Tesla, SpaceX, PayPal, Coca-Cola
• [48:04] How do the generations compare in terms of attitudes on money?
• [48:19] Wall Street
• [49:37] Millennials
• [49:51] TOMS, Bombas
• [50:23] The Price of Privilege by Madeline Levine
• [50:41] The price of privilege – Madeline Levine
• [55:01] Does how Aidan’s parents act about money bother him?
• [55:21] Hinsdale, IL
• [56:40] PC
• [56:58] Taco Bell
• [57:07] The DoorDash Story
• [57:42] Mark Lush on his financial upbringing
• [59:11] Wealthy Mindset
• [59:42] Restoration Hardware (RH)
• [59:52] craigslist
• [1:00:32] Mark Lush on scarcity
• [1:02:11] Family Systems Therapy
• [1:04:28] Squirrelers
• [1:04:56] Is there a problem with being motivated by money?
• [1:07:06] How motivating is money to Aidan?
• [1:07:34] Will Ash support Aidan in his beliefs on money?
• You convinced me
• [1:08:22] What did Aidan convince Ash of?
• [1:09:07] What did Ash convince Aidan of?
• [1:12:48] Thank you for listening! Subscribe to Hold Me Back on HoldMeBack.com
• [1:12:55] Who was more convincing: Aidan or Ash? Vote below

Thank you for listening to Hold Me Back. To hear more episodes, subscribe to Hold Me Back at HoldMeBack.com.

WHAT IS HOLD ME BACK?

Gen X and Gen Z live together, but we occupy different worlds. As the generational gap widens and conventional wisdom on parenting and education fails, is it even possible to understand one another? In this unique son-and-father podcast, Aidan & Ash ElDifrawi hash out a new contract between generations, forcing them to violate comfort zones on today’s most charged topics: social media and screen time, bullying and loneliness, inequality and privilege, sex and drugs, education and etiquette, even politics, religion, and sports. All to uncover a path toward greater harmony and a hopeful future for the next generation.