Ep 420: What Financial Freedom Means For Millennials

Lately, have you been more intentional about the time you spend working? What about putting more effort into finding financial freedom? These are two hot-button topics with Millennials these days, particularly with regard to the time we spend working — specifically, the four-day workweek. 

About a month ago, Bernie Sanders proposed legislation that could make this the new reality for all of us. But Holly Trantham and her company, The Financial Diet, were ahead of the curve when they implemented a four-day workweek three years ago. Trantham joins us to talk about why they’ve never looked back, and how we can all realize a definition of financial freedom that works for us. 

In Mailbag, we hear from a listener who can’t seem to get past the first round of job interviews, and we dig into the finances of egg freezing. In our news of the week, we discuss why the Fed is flip-flopping on cutting interest rates this year, what the heck the Bitcoin “halving” means, and why starting a business may lead (counterintuitively) to less stress. 

Takeaways:

• Implementing a four-day workweek can lead to happier workers, lower turnover, and greater efficiency.
• Financial success should be measured by factors like financial stability, security, and the ability to live the life you want, rather than traditional markers like homeownership.
• The happiness threshold, or the idea that once you make a certain amount of money, your happiness plateaus is not a one-size-fits-all concept.
• Focusing on your future self and setting financial goals can provide motivation and a sense of security.
• Community and relationships play a significant role in personal finance and can contribute to overall happiness and well-being.

Chapters:

00:00:00 Introduction and Financial News Update

05:05 The Four-Day Work Week

08:09 Redefining Financial Success

27:58 Focusing on Your Future Self

35:25 The Importance of Community in Personal Finance

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