MI Rewind: Masterclass on Personal Finance and Credit Unions w/ Rachel Podnos O’Leary and Clay Stackhouse

<p><strong>IN THIS EPISODE, YOU’LL LEARN:</strong></p><p><strong>Rachel Podnos O'Leary</strong></p><ul><li>05:17 - What the key financial differences are between millennials and baby boomers and why those differences are important.</li><li>09:25 - What millennials can do to overcome the economic cards they’ve been dealt with and achieve financial independence.</li><li>12:31 - What the difference is between wealth and income.</li><li>16:03 - What a “Personal Financial Audit” is and what Rachel’s five-step plan is to achieve true financial freedom.</li><li>23:30 - Advice from a Certified Financial Planner on how to determine how much money you’ll need to live your chosen lifestyle after retirement while maintaining financial independence.</li><li>23:30 - Rachel’s view on the goal of retirement and why shifting one’s mindset about retiring might be a smart decision for millennials who want to achieve financial independence.</li><li>43:08 - What to tell people who are struggling to increase their savings rate.</li><li>43:08 - Rachel’s top three tips for how to reduce your spend rate, especially if you don’t want to reduce your lifestyle or “miss out” on things in your younger years.</li><li>47:50 - If millennials should prioritize saving and investing over reducing debt, or if they should focus on their debt first.</li><li>And much, much more!.</li></ul><p><br></p><p><strong>Clay Stackhouse&nbsp;</strong></p><ul><li>54:09 - What the benefits of credit unions are over banks and what makes them different from one another.</li><li>1:08:52 - What shared branching is and how it allows smaller financial institutions like local credit unions to compete with big banks like Bank of America.</li><li>1:10:26 - What red flags people should look out for if they are interested in joining a credit union.</li><li>1:12:56 - Who a credit union might not work well for.</li><li>1:13:42 - What is unique about personal finance for military members.</li><li>1:13:42 - What challenges service members face when building savings that