Pat Flynn on Profiting from Pokémon, Raising Financially Savvy Kids and Lean Learning
In this episode of Money Rehab, Nicole Lapin and Pat Flynn explore alternative investing through the lens of Pokemon cards, where rare specimens can fetch up to $2 million. Flynn discusses how investors use specialized apps to track card values in real-time, similar to stock market monitoring. He also explains his approach to "just-in-time" learning, suggesting that breaking financial goals into manageable steps is more effective than trying to learn everything at once.
The conversation then shifts to practical methods for teaching children about money and investing. Flynn shares his system for structuring children's allowances, where only a quarter of earnings go to spending while the rest is allocated to savings and investments. He describes how he guides his children through both traditional investments like ETFs and alternative markets like trading cards, preparing them for financial independence.
This is a preview of the Shortform summary of the Aug 8, 2025 episode of the Money Rehab with Nicole Lapin
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1-Page Summary
Alternative Investing and Asset Classes
Nicole Lapin explores alternative investing with Pat Flynn, focusing on the surprising world of Pokemon cards. Flynn explains that Pokemon, as the world's largest media franchise, has created a lucrative collectibles market where rare cards can sell for astronomical amounts—some fetching up to $2 million. According to Flynn, investors now use specialized apps like Collector to track card values in real-time, similar to stock market monitoring.
Lean Learning & Just-in-time Information for Personal Finance
Flynn and Lapin discuss how the overwhelming amount of financial information available can paradoxically lead to inaction. Flynn advocates for a "just-in-time" learning approach instead of trying to learn everything at once. He suggests breaking financial goals into manageable steps and finding relevant resources for each step. Flynn emphasizes the power of self-imposed deadlines to motivate learning and implementation, sharing how this approach helped him master public speaking and other skills when needed.
Strategies For Teaching Kids About Money and Investing
Flynn shares his structured approach to teaching children financial responsibility through a carefully designed allowance system. His children receive only a quarter of their earnings for spending, with the remainder split between savings and investments. Flynn actively involves his children in understanding finance and investing—his son has already begun engaging with both the trading card market and traditional investments like ETFs. Flynn guides his children's investment choices while gradually preparing them for financial independence, focusing primarily on index funds like the S&P 500.
1-Page Summary
Additional Materials
Counterarguments
- While Pokemon cards can be lucrative, they are also a speculative market with high volatility, and their value can be influenced by trends and fads.
- Specialized apps for tracking collectible values may not always provide accurate or up-to-date information, and their use could lead to overreliance on technology for investment decisions.
- Just-in-time learning might not be suitable for all individuals, as some may benefit from a more comprehensive understanding of financial principles before making investment decisions.
- Self-imposed deadlines can be stressful and may not always lead to effective learning or decision-making, especially for individuals who struggle with time management.
- A structured allowance system may not account for individual differences in children's understanding and maturity regarding money, potentially leading to a one-size-fits-all approach.
- Involving children in finance and investing at a young age could put undue pressure on them and might not align with their interests or capabilities.
- Focusing primarily on index funds like the S&P 500 may not provide a diversified enough investment portfolio and could expose children to market risks without teaching them about other asset classes.
- The approach to teaching kids about money may not be scalable or applicable to all socioeconomic backgrounds, as not all families can afford to provide an allowance or investment opportunities for their children.
Actionables
- You can create a visual Pokemon card portfolio by designing a custom display that categorizes cards by rarity, condition, and market trends, making it easier to appreciate your collection and identify when to sell.
- By organizing your cards visually, you can quickly notice fluctuations in your collection's value and make informed decisions without relying solely on apps. For example, use color-coded tags or sections in a binder to represent different market statuses, such as potential for growth or high demand.
- Develop a family finance board game that simulates investment scenarios, including trading Pokemon cards, to teach children about financial principles in a fun and engaging way.
- The game could involve earning 'money' through chores or tasks, followed by decisions on spending, saving, or investing in 'assets' like Pokemon cards. This hands-on approach helps children grasp the concepts of return on investment and market volatility.
- Implement a 'finance day' once a month where you and your family review financial goals, learn one new financial concept, and apply it to your current financial activities, such as evaluating your Pokemon card investments or adjusting your savings strategy.
- This dedicated time encourages proactive learning and decision-making. For instance, if you learn about diversification, you might decide to invest in a new type of collectible or explore other investment vehicles beyond index funds, applying the concept immediately to see real-world implications.
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Alternative Investing and Asset Classes (E.G. Pokemon Cards)
Nicole Lapin sheds light on the unconventional world of alternative investing, with a special focus on Pokemon cards thanks to insights from Pat Flynn. Lapin underscores the significance of Pokemon cards as a dynamic and potentially lucrative market within the vast terrain of collectible assets.
Vast, Lucrative, and Complex Pokemon Card Market
Flynn delves into the intricate economy of Pokemon cards, a niche that he and even his children are a part of.
Pokemon: Largest Media Franchise of Cards, Video Games, and Merchandise
Pat Flynn emphasizes that Pokemon, which stands for "pocket monster," dominates as the largest media franchise globally, eclipsing even Disney. The franchise’s success hinges on a plethora of features including the anime, plushies, the pervasive allure of video games, and the sensation of Pokemon Go. Flynn underlines that this empire is not only about trading cards but extends to a multitude of languages and merchandise.
Rare, Vintage Pokemon Cards Sell For Millions Due to Scarcity
Delving deeper into the collectibles market, Flynn points out the exorbitant value attributed to vintage Pokemon cards, such as the incredibly sought-after first edition holographic Charizard card, which can fetch prices as high as $325,000. He also refers to extremely scarce finds like the Pikachu illustrator card, which has sold for over two million dollars. Flynn conveys that the combination of nostalgia and the discontinuation of certain card printings elevates the rarity and, thus, the value of these cards.
Fans and Investors Track Pokemon Card Prices Using Specialized Apps
The market for Pokemon ...
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Alternative Investing and Asset Classes (E.G. Pokemon Cards)
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Counterarguments
- While Pokemon cards can be lucrative, they also represent a niche market with a high barrier to entry for those unfamiliar with the franchise or collectibles space.
- The value of collectibles like Pokemon cards can be highly speculative and subject to market bubbles, which can pose significant risks to investors.
- The comparison of Pokemon card values to stock market dynamics might oversimplify the complexities and risks involved in collectible investing.
- The success of the Pokemon franchise, while impressive, is subject to trends and consumer interests, which can change rapidly and affect the long-term value of related collectibles.
- The use of apps like Collector to track card prices may not always provide a complete or accurate picture of the card's value, as the market for collectibles can be less transparent and more subjective than financial markets.
- The focus on rare and vintage cards may overshadow the environmental and ethical conside ...
Actionables
- You can start a blog to document your journey into Pokemon card collecting, sharing insights on market trends and personal experiences. By doing this, you create a platform for yourself and others to learn and discuss the fluctuations and nuances of the market, which can be as volatile as stocks. For example, you might post about a recent spike in the value of a specific card series after a related media release, and how that affected your investment strategy.
- Organize a local meet-up for Pokemon card enthusiasts to trade, discuss, and appraise cards. This face-to-face interaction can provide a deeper understanding of the market's dynamics and allow you to build a network of contacts who can offer diverse perspectives on collecting and investing. For instance, you could host a monthly gathering at a community center where participants bring cards for trade and discuss the latest market developments.
- Create a digital inventory of yo ...
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Lean Learning & Just-In-time Information for Personal Finance
Pat Flynn and Nicole Lapin discuss the potential of lean learning and just-in-time information to enhance personal finance strategies without overwhelming individuals.
Overwhelming Financial Information Can Lead To Inaction
Both Flynn and Lapin address how the abundance of financial information available can ironically lead to inaction.
"Just-In-case" Learning Often Paralyzes the First Step
Pat Flynn discusses the problem of "just-in-case learning" and how absorbing too much information can lead to becoming overwhelmed. People often try to absorb all the information before taking action, delaying the first step. Lapin also points out that individuals can become so overwhelmed with advanced financial information that they neglect basic investments like trading for an index fund.
Adopting a "Just-In-time" Learning Mindset Can Drive Progress
Flynn suggests adopting a "just-in-time" learning mindset to lean into the things that will help one progress, utilizing information from the right resources at the right time, and for the right reasons. Instead of FOMO, Flynn champions the "joy of opting out," which helps individuals commit to their current priorities and not get distracted by information overload.
Key Steps for Effective Learning and Implementation
Flynn advocates for breaking the financial goal process into steps, which is essential to prevent overload and motivate timely learning and application.
Breaking a Goal Into Steps and Sourcing Resources Prevents Overload
Flynn discusses reverse engineering a goal to the very next step that needs to be taken and finding the right resource for that particular step. Flynn provides examples from his own experience, such as focusing on writing his ebook first and then moving on to learning about formatting and selling it online. Flynn emphasizes finding the right information from the right people and selecting information at the "buffet line" judiciously to prevent the common problem of overload.
Creating Deadlines to Motivate Timely Learning and Implementation
Through the concept o ...
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Lean Learning & Just-In-time Information for Personal Finance
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Counterarguments
- While "just-in-time" learning can be efficient, it may not provide a comprehensive understanding of personal finance that "just-in-case" learning might offer, potentially leading to gaps in knowledge that could be important in unforeseen circumstances.
- The "just-in-time" approach assumes that individuals can accurately identify what information they will need at the right time, which may not always be the case, especially for those new to personal finance.
- Breaking goals into steps is useful, but without a broader understanding, individuals might not be able to effectively prioritize these steps or adapt to changing financial situations.
- Deadlines can indeed motivate action, but they can also create unnecessary pressure that leads to rushed decisions rather than well-considered ones, which is particularly risky in personal finance.
- T ...
Actionables
- Use a decision matrix to evaluate financial choices and avoid paralysis by analysis. When faced with multiple investment options or financial decisions, create a simple decision matrix where you list your options and rate them based on factors like risk, potential return, and alignment with your goals. This quantifiable approach can help you make a more informed and less overwhelming decision.
- Set up a learning subscription model for yourself to engage with new information as needed. Instead of trying to learn everything upfront, subscribe to a service or platform that offers on-demand learning in your field of interest. This way, you can access the specific information you need right when a relevant task or project arises, ensuring your learning is timely and directly applicable.
- Implement a 'learning lab' approach to your ...
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Strategies For Teaching Kids About Money and Investing
Pat Flynn addresses how the Lean Learning framework can be applied to teaching children about money and investing, emphasizing practical experiences and a structured allowance system to inculcate financial responsibility from a young age.
Structured Allowance Instills Money Management Skills in Children
Teaching Kids to Allocate Allowances Teaches Budgeting Skills
Flynn’s children are on a structured allowance where they receive only a quarter of their earnings and must deal with the consequences if they overspend. This experience teaches them to manage their finances and make decisions on spending and saving. Through this process, kids learn the valuable lesson that money is finite by making choices which may involve foregoing certain wants, like K-pop merchandise, to save for more significant experiences, such as going to Universal Studios with friends.
Kids Learning By Managing Their Own Money
Flynn shares that half of what his kids earn is put into savings, while the rest is divided between their Individual Retirement Account (IRA) and discretionary spending. Flynn's son’s engagement with the trading card market provides him with firsthand experience in managing finances by trading and investing in his collection. When the children want to spend money, they must explain what they will use it for, encouraging responsible spending behavior.
Inspiring Kids' Financial Curiosity and Responsibility Through Finance and Investing
Flynn actively engages his children in his business, exposing them to entrepreneurship and investment strategies. His son's interest in building his PC and in the stock market demonstrates an active engagement in understanding and partaking in investments. By providing his son with an insider look at his investment portfolios, Flynn is fostering his son’s curiosity about investing. Flynn admires his son's focus on investment choices like SPY and VOO ETFs rather than the opinions of others.
Flynn learned about investing only after he began earning paychecks as an architect, which led him to self-education through finance blogs such as Get Rich Slowly and The Si ...
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Strategies For Teaching Kids About Money and Investing
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Counterarguments
- Structured allowance might not account for different learning styles and financial literacy levels among children.
- Allocating allowances for budgeting skills may not mimic real-world financial challenges and could oversimplify complex financial concepts.
- Managing their own money at a young age could lead to early financial mistakes that might discourage some children.
- The focus on finance and investing might not address the importance of charitable giving and social responsibility with money.
- Engaging children in entrepreneurship and investment strategies could create pressure and detract from other educational or childhood experiences.
- Involvement in estate and financial planning might be too complex for children to understand and could potentially cause anxiety about future responsibilities.
- The approach may not be as effective for children who are not naturally inclined towards financial matters or who have different interests.
- The emphasis on financial independence might overlook the importance of community support systems and the role of interdepend ...
Actionables
- You can create a family investment club where each member, including children, contributes a small amount of money to invest together. Explain the process of choosing investments and track their performance as a group, making it a regular family activity to discuss and make decisions. This hands-on approach gives children real-world experience in investing and the opportunity to see the outcomes of their decisions.
- Encourage children to start a mini-business, such as a lemonade stand or selling handmade crafts online, and use a portion of their earnings to invest in a low-cost index fund. Guide them through setting up their business, understanding costs, and reinvesting their profits. This experience teaches entrepreneurship and the value of investing at ...
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