The Intrinsic Value Podcast - The Investor’s Podcast Network

MI104: Masterclass on Personal Finance and Credit Unions with Rachel Podnos O’Leary and Clay Stackhouse

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IN THIS EPISODE, YOU’LL LEARN:

Rachel Podnos O'Leary

  • 5:17 - What the key financial differences between millennials and baby boomers are and why those differences are important
  • 9:25 - 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 
  • 18:43 - What a “Personal Financial Audit” is and what Rachel’s five-step plan is to achieve true financial freedom
  • 26:10 - 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 independence
  • 38:07 - 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 independence
  • 44:28 - What to tell people who are struggling to increase their savings rate
  • 45:42 - 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 years
  • 49:10 - 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 

    • 56:18 - What the benefits of credit unions are over banks and what makes them different from one another
    • 64:50 - 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 union
    • 01:10:16 - Who a credit union might not work well for
    • 01:11:02 - What is unique about personal finance for military members
    • 01:14:36 - What challenges servicemembers face when building savings that civilians don’t necessarily deal with
    • 01:15:57 - How credit unions can help people get started on the right foot using products such as car loans and credit cards
    • 01:18:56 - What considerations about financial planning must be taken into account for servicemembers
    • 01:21:04 - 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.
      • Check out our Investing Starter Packs about business and finance
      • Rachel Podnos O'Leary's book 21st Century Wealth
      • Clay Stackhouse's article Strong Financial Fundamentals for Those Just Starting Out
      • Thomas Stanley and William Danko’s book The Millionaire Next Door
      • JL Collin’s book The Simple Path to Wealth
      • Grant Sabatier’s book Financial Freedom
      • Patrick O’Shaughnessy’s book Millennial Money
      • Jesse Itzler’s book Living with a SEAL
      • All of Robert’s favorite books


        • SPONSORS

        Support our free podcast by supporting our sponsors:

        • Range Rover
        • Airbnb
        • NetSuite
        • Public


          • Connect with Rachel: Website | LinkedIn | Twitter

          Connect with Clay: Website | LinkedIn | Twitter

          Connect with Robert: Website | Instagram

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