How To Build Generational Wealth (If You’re Not a Millionaire) | Michael Gentile & Daniela Cambone
The Small Decisions You Make Today Will Shape Your Future
"Having a healthy detachment from money, loving what you do, learning from mistakes, being persistent and tenacious. These are key factors to being a successful investor." — Michael Gentile
I recently had the honour of sitting down with two of finance’s most insightful and relatable voices, Daniela Cambone and Michael Gentile, for a deep conversation on Building Generational Wealth with Living Your Greatness.
Daniela Cambone is the Global Media Director at ITM Trading, Inc., where she leads media strategy and thought leadership for one of the world’s top precious metals firms. With over a decade in financial journalism, she’s become one of the most respected voices in the precious metals space, known for her in-depth interviews with some of the biggest names in finance and economics.
Michael Gentile, based in Montreal and a father of five daughters, discovered his passion for investing at just ten years old. Today, he stands out as a leading strategic investor in the junior mining sector, with significant stakes in over 25 small-cap mining companies. As co-founder of Bastion Asset Management, he oversees more than $550 million in assets focused on small to mid-cap equities across North America.
What struck me was not just their financial acumen, but the powerful blend of humility, persistence, and generosity that defines both their careers and outlook on life. These are individuals who have not only amassed knowledge, but whose greatest passion is to see others rise.
Episode Lessons
Here are some lessons I took from my conversation. I hope they resonate with you as much as they did with me.
1. Start Before You Feel Ready
Both Daniela and Michael attribute much of their success to the simple act of saying “yes” early on—even when they felt unprepared.
Daniela recalled, “I never thought I would end up here. I thought I’d be covering politics... I couldn’t even read a bank report or company statements, zero. And her boss said, ‘Are you willing to learn? We’ll give you a shot.’ It was a steep learning curve, but I ended up falling in love with covering the economy. That was really the start of my journey.”
Their stories remind us of a vital truth: you don’t need to have all the answers to get started. Curiosity, openness, and the courage to try matter far more than mastery from day one.
The takeaway? Don’t wait for perfect readiness. The journey begins when you say yes.
2. Invest in Yourself First—Knowledge Compounds
When I asked Daniela and Michael about their first steps in finance, both agreed education is the most important investment you can make.
Michael was candid about the glaring gap in financial literacy.
“I went through from 10 years old to 17 years old and not one hour of education on budgeting, on saving, on investing... which is a huge, societal deficiency.”
But he also stressed it’s not complicated—if you’re willing to put in the time.
“It’s actually not that difficult if you take the time to invest.”
Their advice? Be relentless in seeking knowledge. Read foundational books like The Wealthy Barber, Millionaire Next Door, Rich Dad Poor Dad, and Ray Dalio’s Principles. Follow trusted educators. Most importantly, learn by doing—no matter how small the step.
As Michael put it:
“You can get a PhD in finance off of books and YouTube and hard work.”
The takeaway? Investing in yourself through education builds a foundation that compounds over time—powering your confidence and your wealth.
3. Simplicity and Consistency Beat Complexity
Both Daniela and Michael emphasized the power of keeping things simple—and sticking with them.
Daniela put it plainly:
“I just keep my life simple and invest in what I know, period. And that’s why I'm in gold, because that’s what I really know.”
Michael reinforced this with a straightforward truth.
“Sound financial advice. If you take that one step, that'll unlock so much more than, ‘Hey Mike, what's your favourite stock tip.’ Just like blocking and tackling. Get your financial house in order—budget, save first. That forms a foundation.”
Their message is clear: focus on simple, repeatable habits. Budget. Save. Invest in a way that feels manageable and true to you. Master the basics before chasing the next complex strategy or market tip.
The takeaway? Wealth grows best when built on consistency and simplicity—not on complicated shortcuts.
4. Practice, You Learn Best by Doing
There’s no substitute for experience. Michael, who has taught investing at the university level, shared a powerful approach.
“I tell my students, take that money, go buy a few stocks, and I hope you lose all your money... because if you buy something and it goes down, that’s when you have real pain—then you go, ‘Well, I’ve got to learn about why I lost.’ Those will be the best investments you can ever make.”
Daniela added a practical step.
“Just start. Even if it’s not gold, buy an ounce of silver. By starting, it’s going to force you to educate yourself. It’s like working out; at first you don’t know what to do, but once you start, it becomes familiar.”
The lesson is clear: action breeds learning. Mistakes teach lessons far deeper and more lasting than any book ever could.
The takeaway? Don’t wait for perfect knowledge—begin now, learn from experience, and grow your financial confidence along the way.
5. Wealth Is Mult-Dimensional
Perhaps the most profound reminder from our conversation; wealth goes far beyond money.
Daniela put it simply.
“Not to sound cliché, but true wealth is health and family, period. So if you don’t have that, in my opinion, you have nothing.”
Michael echoed this, sharing his thoughts on ‘generational wealth’:
“I want to set my kids up for success, give them opportunity, but... the worst thing I can do is set them up with a golden parachute. I want them to have work ethic, find passion, and strike out their own future.”
Their message is clear—money is a tool, not a destination. It’s meant to create freedom, choices, and impact. But the true measure of wealth is found in health, relationships, and purpose.
The takeaway? Build wealth that supports the life and legacy you truly want—not just the numbers on a balance sheet.
6. Build A Circle of Competence
Daniela’s journey highlights the power of developing true expertise—step by step, over time.
“When I started at Kitco, they asked me, ‘What do you know about gold?’—and honestly, I didn’t even know how it was priced. Now, I’m a specialist in the gold market. It’s proof you can learn anything if you commit.”
Michael cautioned against shallow dabbling:
“Know what you buy. Don’t just say, ‘Daniela’s really smart, so I’m going to buy silver and go back to my life.’ That’s the wrong approach. Find out why it’s moving up—or down. That’s how you make good decisions over time.”
Their advice is clear, combine focused learning with humble curiosity. Understand your strengths. And never be afraid to say, “I don’t know.”
The takeaway? Master your circle of competence—and grow it patiently. That foundation is what leads to confident, wise investing.
7. Real Wealth Is Found In Giving Back
Both Daniela and Michael have been profoundly shaped by mentors whose generosity went far beyond money.
Michael spoke of his first mentor, John Dobson:
“He was worth tens of millions... and yet lived really humbly. He loved giving back.”
Daniela shared a moving story about billionaire Frank Giustra:
“He was able to change her life, and she was able to continue this project. If you can reach that level of success and give back without the cameras rolling... that’s a gift in itself.”
Their message is clear—true greatness is measured by how you empower others to rise alongside you.
Knowledge, opportunity, and values—these are the richest legacies you can pass down.
The takeaway? Share your wealth generously. In doing so, you multiply its power and purpose.
Final Thoughts
Daniela and Michael remind us that true wealth, in every sense, is shaped by daily choices, continuous learning, humility, and the courage to invest not only in ourselves but in others.
If there’s one thing to take away, it’s this: “You just have to start…and keep going.”
Generational wealth isn’t built overnight; it’s forged, one intentional step at a time.
Thanks for reading! 🫶
Much love,
Writer l Speaker l CEO of Living Your Greatness
P.S. If you have not tuned in to any episodes yet of Building Generational Wealth, I encourage you to start by watching the previous episodes ( 1 - Peter Grandich, 2 - Michael Gentile and 3 - Daniela Cambone, 4 - Rick Rule, 5 - Peter Krauth).
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