IN THIS EPISODE, YOU’LL LEARN: Rachel Podnos O'Leary5:17 - What the key financial differences between millennials and baby boomers are and why those differences are important9:25 - What millennials can do to overcome the economic cards they’ve been dealt with and achieve financial independence12:31 - What the difference is between wealth and income 18:43 - What a “Personal Financial Audit” is and what Rachel’s five-step plan is to achieve true financial freedom26:10 - 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 independence38:07 - 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 independence44:28 - What to tell people who are struggling to increase their savings rate45:42 - 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 years49:10 - If millennials should prioritize saving and investing over reducing debt, or if they should focus on their debt firstAnd much, much more! Clay Stackhouse 56:18 - What the benefits of credit unions are over banks and what makes them different from one another64:50 - What a field of membership is and why it’s needed 01:07:46 - What red flags people should look out for if they are interested in joining a credit union01:10:16 - Who a credit union might not work well for01:11:02 - What is unique about personal finance for military members01:14:36 - What challenges servicemembers face when building savings that civilians don’t necessarily deal with01:15:57 - How credit unions can help people get started on the right foot using products such as car loans and credit cards01:18:56 - What considerations about financial planning must be taken into account for servicemembers01:21:04 - Clay’s top budgeting tips and how a credit union can be used in conjunction with those tipsAnd much, much more! *Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.EPISODE RESOURCESGet more FREE content from RobertCheck out our Investing Starter Packs about business and financeRachel Podnos O'Leary's book 21st Century WealthClay Stackhouse's article Strong Financial Fundamentals for Those Just Starting OutThomas Stanley and William Danko’s book The Millionaire Next DoorJL Collin’s book The Simple Path to WealthGrant Sabatier’s book Financial FreedomPatrick O’Shaughnessy’s book Millennial MoneyJesse Itzler’s book Living with a SEALAll of Robert’s favorite booksSupport our free podcast by supporting our sponsorsSave with a credit union that helps you build financial confidence with Navy Federal Credit UnionListen to Secret Sauce and explore the stories and successes behind some of the most inspiring businesses. Available on Apple Podcast, Amazon Music, or you can listen one week early and ad-free by joining Wondery Plus in the Wondery appPut your best face forward with Cardon, the award-winning cactus-based skincare for menAutomate your key business processes, and close your books in a fraction of the time with NetsuiteIf you want to learn how to bootstrap or create a magnetic brand, then listen to Secret Leaders wherever you get your podcastsAccess conference calls, investor presentations, transcripts and earnings reports as frictionless as possible with Quartr.Make it simple to hire and manage remote employees across all 50 states with Justworks.Read this episode’s transcript and full show notes on our website.Connect with Rachel: Website | LinkedIn | TwitterConnect with Clay: Website | LinkedIn | TwitterConnect with Robert: Website | Instagram See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.