Money Wisdom from Famous Dads

Because dads give more than life advice—they pass on financial smarts too.

In honor of Father’s Day, we’re revisiting some memorable money lessons shared by well-known dads—and the values they’ve passed on to their kids. Whether you're a parent or just someone trying to make better financial decisions, these tips are worth holding onto.

Think for Yourself

Ray Dalio, founder of the hedge fund Bridgewater Associates, taught his son Paul an important lesson: don’t get intimidated by people who sound smart—especially in money conversations. Ray says to pause, question, and make sense of things for yourself. It’s easy to nod along when someone talks fast and confidently, but slowing down and asking questions is how you stay in control.

Don’t Just Follow the Crowd

Jim Simons, one of the most successful investors in history, encouraged his kids—like fellow hedge fund manager Nat Simons—to think independently. His lesson? Don’t let your emotions steer your decisions. In investing and in life, it pays to step back and make choices based on what you know and believe, not what everyone else is doing.

Have a Plan B (and C)

George Soros is famous for adapting quickly. He’s always told his kids not to get stuck on just one financial scenario. Markets change. Life changes. The best investors stay flexible and have backup plans ready to go. A solid financial strategy leaves room for options.

Save Like a Worrier, Invest Like a Believer

Bill Gates has said this for years—and it still holds up: be careful in the short term so you can be bold in the long term. Gates always made sure Microsoft had enough cash to survive tough times. He knew that being smart about today’s risks allowed him to bet big on the future.

Invest in What Matters Most

Here’s a fresh one from LeBron James—yes, he’s made big plays on and off the court. In 2024, with his son Bronny entering the NBA draft and possibly joining him on the court, LeBron is showing what it means to invest in family. He’s talked openly about building generational wealth and how important it is to be present and involved—not just with money, but with time and support.

Whether the advice comes from Wall Street legends or basketball greats, the takeaway is the same: money isn’t just about numbers—it’s about values. If you’ve gotten great financial wisdom from your dad or a father figure in your life, now’s the perfect time to pass it along.