IN THIS EPISODE, YOU’LL LEARN:Rachel Podnos O'Leary05:17 - What the key financial differences are between millennials and baby boomers and why those differences are important.09:25 - What millennials can do to overcome the economic cards they’ve been dealt with and achieve financial independence.12:31 - What the difference is between wealth and income.16:03 - What a “Personal Financial Audit” is and what Rachel’s five-step plan is to achieve true financial freedom.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.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.43:08 - What to tell people who are struggling to increase their savings rate.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.47:50 - If millennials should prioritize saving and investing over reducing debt, or if they should focus on their debt first.And much, much more!.Clay Stackhouse 54:09 - What the benefits of credit unions are over banks and what makes them different from one another.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.1:10:26 - What red flags people should look out for if they are interested in joining a credit union.1:12:56 - Who a credit union might not work well for.1:13:42 - What is unique about personal finance for military members.1:13:42 - What challenges service members face when building savings that civilians don’t necessarily deal with.1:18:37 - How credit unions can help people get started on the right foot using products such as car loans and credit cards.1:18:37 - What considerations about financial planning must be taken into account for service members.1:23:44 - Clay’s top budgeting tips and how a credit union can be used in conjunction with those tips.And much, much more!*Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.BOOKS AND RESOURCESRachel Podnos O'Leary's book 21st Century Wealth.All of Robert’s favorite books.Support our free podcast by supporting our sponsors.NEW TO THE SHOW?Check out our Millennial Investing Starter Packs.Browse through all our episodes (complete with transcripts) here.Try our tool for picking stock winners and managing our portfolios: TIP Finance Tool.Enjoy exclusive perks from our favorite Apps and Services.P.S The Investor’s Podcast Network is excited to launch a subreddit devoted to our fans in discussing financial markets, stock picks, questions for our hosts, and much more! Join our subreddit r/TheInvestorsPodcast today!SPONSORSGet a FREE audiobook from Audible.Make backing up and accessing your data astonishingly easy with Backblaze. Sign up for a free trial today.Get up to 3% Daily Cash back on everything you buy with Apple Card. Subject to credit approval. Daily cash is available via an Apple Cash card or as a statement credit. See Apple Card customer agreement for terms and conditions. Apple Cash card is issued by Green Dot Bank, Member FDIC. Variable APRs range from 13.24% to 24.24% based on creditworthiness. Rates as of August 1, 2022.Reclaim your health and arm your immune system with convenient, daily nutrition. Athletic Greens is going to give you a FREE 1 year supply of immune-supporting Vitamin D AND 5 FREE travel packs with your first purchase.Invest in high quality, cash flowing real estate without all of the hassle with Passive Investing.Confidently take control of your online world without worrying about viruses, phishing attacks, ransomware, hacking attempts, and other cybercrimes with Avast One. Connect your people, your customers, and your business with Hubspot.