True Wealth Podcast
The Moment That Changed Everything: Dave Austad on Wealth, Health, and What Really Matters
Key Takeaways
- Austad’s Golf began as a side hustle in the trunk of a car and grew into a national business through persistence and opportunity.
- True generosity goes beyond writing checks: it involves active participation and engagement.
- Family foundations can serve as powerful tools to teach values and involve future generations in giving.
- Experiences like packing meals or funding wells can help create deeper impact than financial contributions alone.
- Generosity is “caught, not taught,” and is best learned through example and involvement.
- Legacy is not about being remembered, but about preparing the next generation to live with purpose and responsibility.
- Near-life experiences can shift perspective, emphasizing the importance of time and intentional living.
- True Wealth is not measured by accumulation, but by alignment with purpose, faith, and service.
- Giving breaks the power money can have over individuals and brings deeper fulfillment.
- Anyone can start making an impact. Generosity begins with awareness and small, intentional actions.
Meet the Guest
Dave Austad
Show Notes
In this episode of the True Wealth Podcast, Wealth Advisors Kevin Engbers and Nik Aamlid sit down with Dave Austad, President of Austad’s Golf, for a powerful conversation on generosity, legacy, and what it truly means to live a life of impact. Drawing from decades of business experience, family leadership, and personal transformation, Dave shares how giving, when done with the right heart, can shape not only communities, but future generations.
Dave begins by sharing the origin story of Austad’s Golf, a business started by his father in 1963 from the trunk of a car. What began as a small side hustle quickly grew into one of the largest golf distributors in the United States, demonstrating how timing, perseverance, and entrepreneurial spirit can create extraordinary opportunity. However, as the business grew, so did a deeper sense of responsibility, not just to succeed, but to give back.
A central theme of the episode is the distinction between simply giving money and truly living a life of generosity. Dave explains that while financial contributions are important, the most meaningful impact often comes through participation and involvement. This realization led to the creation of their family foundation, designed not just to donate funds, but to actively engage children and grandchildren in the process of giving. By involving the entire family, generosity becomes something that is “caught, not taught,” shaping values that extend far beyond financial wealth.
The conversation highlights several impactful initiatives, including partnerships with organizations like Feed My Starving Children, where the family worked together to pack over 100,000 meals, and efforts to fund clean water wells in Africa. These experiences reinforced the importance of hands-on giving, showing that true impact is not just measured in dollars, but in presence, participation, and perspective.
Another key focus of the discussion is defining legacy. Dave challenges the common idea that legacy is about recognition or being remembered, instead emphasizing that true legacy lies in preparing the next generation. By instilling values such as stewardship, faith, and responsibility, families can create a lasting impact that extends well beyond financial inheritance. The goal is not to be known, but to equip others to live meaningful, purpose-driven lives.
Dave also shares a deeply personal turning point; his near-fatal heart condition that required emergency surgery. This experience reshaped his perspective on time, wealth, and priorities, reinforcing the idea that life is finite and every day is a gift. It became a catalyst for living more intentionally and focusing on what truly matters: faith, family, and making a difference in the lives of others.
Throughout the episode, the concept of true wealth is woven into every story. While financial success provides opportunities, it is not the ultimate goal. True Wealth can be found in alignment; using resources, time, and talents to serve others and create meaningful impact. Dave emphasizes that anyone can begin this journey, regardless of financial position, by simply recognizing needs around them and taking action.
Ultimately, this episode serves as a compelling reminder that generosity is not reserved for the wealthy; it is a mindset and a lifestyle. We believe by starting small, involving others, and focusing on purpose over recognition, anyone can build a legacy that truly matters.