Money is one of the last great taboos. People will talk about almost anything—politics, religion, their favorite Netflix series—before they’ll open up about what’s in their checking account. But if we’re going to break the cycle of generational poverty, that conversation has to change.
As the founder of The #BuildWealth Movement, Jasper Smith is on a mission to disrupt generational poverty—not just for individuals, but for entire communities. On a recent episode of Don’t Retire… Graduate!, Jasper joined Eric Brotman for a candid conversation about money, mindset, and what it really takes to create lasting wealth.
The First Step: Expect Better
We often think education is the key to breaking generational poverty. But Jasper suggests there’s something even more powerful: expectation.
“If there’s one word I’d use to start shifting the cycle,” he says, “it’s expectation. My parents expected to do better than their parents. They didn’t define how much better—they just knew they wanted more. And that mindset changed everything.”
When families normalize conversations around money and success, expectation becomes part of the culture. Each generation builds on the one before it—not by accident, but by design.
Money Lessons Start Earlier Than You Think
You don’t need to wait until your kids are teens to talk about money. Jasper’s daughter was barely one year old when he started explaining that she had a savings account, investment account, and a life insurance policy.
“She didn’t know what the words meant, but the repetition matters,” he says. “Now, at two and a half, she knows mom and dad go to work to make money—and she tells us, ‘Go make money!’”
By creating an environment where money is discussed openly and positively, kids grow up understanding its purpose and potential. Even young children can grasp the basics of earning, saving, and spending.
Teens and Roth IRAs: The Wealth Hack No One Talks About
Jasper’s advice to parents with teens is crystal clear: “When your child has earned income, it’s time for a Roth IRA.”
Many kids get their first job in high school, and those earnings can be the foundation for lifelong wealth thanks to the long time horizon and powerful compounding of a Roth IRA.
Yet most teens (and many parents) don’t realize this opportunity exists. It’s a perfect example of how access to information—and acting on it—can shift a family’s entire financial trajectory.
Why Generational Poverty Persists
Jasper’s passion for this work was sparked while working with a nonprofit researching generational poverty. The recurring question: Why do some families break the cycle while others repeat it?
“It’s not just about income or access,” he says. “It’s about mindset. We all know someone in a family who says, ‘I want more than this.’ But often, that person gets shunned for being different—for being the ‘goody two-shoes’ or trying too hard. That has to stop.”
Breaking the cycle takes more than hard work. It takes support, tools, and the willingness to ask for—and accept—help.
One of the most powerful moments in the conversation was Jasper’s reminder that many people, especially men, struggle to ask for help.
So he reframes the question: “Are you willing to allow someone to help you?”
For those who say yes, the door opens to planning, accountability, and progress. For those who resist, the cycle often continues.
This isn’t about judgment—it’s about shifting perspective. As Jasper notes, “You can either learn the rules of the game and use them to your advantage, or you can get played. But you are playing whether you like it or not.”
How to Break the Cycle
If your goal is to build wealth that lasts beyond your lifetime, here’s where to start:
- Start talking about money—early and often. Don’t wait until your kids are grown.
- Make expectation part of your family culture. Decide to do better, and make a plan to do it.
- Open a Roth IRA when your child starts earning income. Even part-time jobs can be a foundation for wealth.
- Ask for help—or guidance, or support—when you need it. You don’t have to go it alone.
- Work with professionals who listen and make you feel comfortable. Trust matters.
Breaking generational poverty isn’t just about dollars and cents. It’s about rewriting your family’s story. It’s about shifting the narrative from “we don’t talk about money” to “this is how we build wealth.”
As Jasper reminds us, “If I can get you more comfortable talking about money, we can move mountains. And I don’t say that about many things—but I guarantee this one.”
