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The Money with Katie Show

Is "Financial Independence" a Sign of... a Problem?

The Money with Katie Show

Money with Katie

Self-improvement, Education, Business, Investing, How To

4.81.3K Ratings

🗓️ 23 February 2022

⏱️ 22 minutes

🧾️ Download transcript

Summary

Today, we hear from Dr. Anna Hulett, an industrial organizational psychologist (think female Adam Grant), about the state of work in the United States and why there’s a small legion of Millennials obsessed with financial independence retiring early. Is financial independence a sign of… a problem? We examine data from other places (read: Scandinavian countries) where employment rates are higher, people are happier, and – ironically – the taxes and social safety nets are extreme. There’s a LOT to unpack here. Here’s the article referenced throughout. Follow along Blog Instagram Twitter Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Welcome back rich girls new and old to the money with Katie podcast. I've got a good

0:13.0

one for you today where I attempt to answer a scary question.

0:18.4

Today's report laid bare that climate change is happening now on an unprecedented scale.

0:22.9

Law enforcement has now undertaken to arrest truckers who continue to protest the vaccine

0:29.0

Kanye West is reportedly telling people that he and Kim Kardashian are back together,

0:37.3

okay those are very scary questions but not the one that I'm exploring today. The question

0:43.0

that we're diving into today is the millennial obsession with financial independence,

0:49.6

a sign of a problem. If you are someone who's pursuing financial independence let me ask you

0:55.4

a question. Why? I know, I know, stick it to the man tap dance on your boss's desk,

1:01.8

drink more low at 2pm on a Tuesday but really why? Recently I was struck by an interesting shower

1:08.4

thought. What does it say about the state of work in the US that there is a small legion of

1:15.2

millennials and elder millennials that regularly fantasize about retiring before their 40?

1:21.3

Why do we want to get out of the workforce so badly?

1:26.2

I wanted to talk to someone who has a PhD in why millennials don't want to work anymore.

1:39.6

My name is Anna Hewlett and I am an industrial organizational psychologist which is a big mouthful

1:46.9

so we usually just say IO psychologist and what that means is that my expertise is the psychology

1:54.0

of the workplace and that can be anything from how to best conceptualize and measure

2:01.4

and track performance. It could be your job satisfaction, it could be diversity and inclusion.

2:09.8

One thing to think about is the evolving context of work over the past century. So 100 years ago

2:17.5

work was really focused on production and efficiency. Humans were considered truly a cog in a

2:25.5

machine and we didn't really think about the impact of work on those humans. So as technology

2:32.6

has evolved over the past century, that has really allowed humans to step into a different kind

...

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