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HerMoney with Jean Chatzky

Ep 420: What Financial Freedom Means For Millennials

HerMoney with Jean Chatzky

Jean Chatzky Her Money

Investing, Entrepreneurship, Business

4.81.3K Ratings

🗓️ 24 April 2024

⏱️ 48 minutes

🧾️ Download transcript

Summary

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 Join the HerMoney community! For the latest episode drops and financial news-you-can-use, subscribe to our newsletter at Hermoney.com/subscribe! The HerMoney with Jean Chatzky podcast is sponsored by Edelman Financial Engines. The podcast team and its host are neither employees nor clients of EFE, however, the show does receive fixed compensation and is a paid endorser and therefore has an incentive to endorse EFE and its planners. To learn more about the sponsorship, please visit PlanEFE.com/HerMoney. Please contact [email protected] if you would like to advertise on our podcast, and to learn more about Airwave, head to www.airwavemedia.com. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

You're listening to an airwave media podcast.

0:06.0

Her money is proudly sponsored by Edelman Financial Engines.

0:10.0

When you think about your financial plans, are you diversified?

0:14.3

After the year we had in 2022, it is a really good question.

0:20.7

Is it time you rebalanced or made other adjustments? Help make sure your

0:25.0

investing strategy is right for you. Visit plan EFE.com slash Hermani to

0:30.6

schedule your complementary wealth checkup.

0:34.0

4 quid, for lunch, for new cheeky little pizzas from Domino's,

0:39.0

for hot and cheesy wraps, for you,

0:41.0

for Finan Finance, for Sid on Security, for lunching at the laptop.

0:44.4

Lunch for just four-quill at Domino's.

0:46.4

High fours all round. Order ahead on our app.

0:49.1

Domino!

0:50.1

Four pound per item, collection and delivery,

0:53.0

minimum delivery spend, charges and areas may apply.

0:55.0

Hey everyone, I'm Jean Chatsky.

0:59.0

Thanks so much for joining me today on Her Money.

1:02.0

So it's been about a month since we have changed the format of

1:06.4

the show based on all of your amazing feedback, the feedback that you provided in our

1:11.5

2023 survey.

1:13.6

And so I want to know, what do you think?

1:17.0

Are you liking the changes?

...

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