May 7th, 2012
09:35 AM ET
With a Billboard record already under her infant belt, it's not a surprise Blue Ivy will be familiar with the finer things in life.
Both Jay-Z and mom Beyonce are mega-successful, and then there's the fact that Blue Ivy's also an only child.
To help keep her grounded, Jay said he’ll take what he gleaned from his own family upbringing and add it to his parenting repertoire.
"I imagine I'll take things I learned from my mom and things I've learned from raising my nephews and apply that,” he said on the show.
You’ve also got to enjoy kids while they’re young, because the good vibes between parent and child don’t necessarily last forever, he added.
"Everyone imagines they'll be a great dad until their [kids are] teenagers," he said. "[They say], 'Get away from me, Dad. You're embarrassing me."
Jay was joined by stars like Jon Bon Jovi, Diane Sawyer and Reba McEntire, who also shared their insights on life on the show.
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