The Intrinsic Value Podcast - The Investor’s Podcast Network

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

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IN THIS EPISODE, YOU’LL LEARN:

Rachel Podnos O'Leary

  • 05:17 - 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 RESOURCES

      • Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Kyle and the other community members.
      • Rachel Podnos O'Leary's book 21st Century Wealth.
      • All of Robert’s favorite books.


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          The Intrinsic Value Podcast - The Investor’s Podcast NetworkBy The Investor's Podcast Network
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