Episode Summary:

Optimal Finance Daily, Episode 3380 – "What You Can Learn From Millennials for a Better Financial Future" by Kathleen Coxwell of NewRetirement
Host: Diania Merriam
Date: December 8, 2025

Main Theme

This episode, narrated by Diania Merriam, features a post by Kathleen Coxwell from NewRetirement, exploring the financial habits and lifestyle choices of Millennials. The discussion focuses on how adopting certain Millennial behaviors can inspire better money management and offer fresh strategies for those planning for financial independence or retirement. Diania, herself a Millennial, offers additional reflections and context, highlighting both the challenges and lessons embedded in Millennial choices.

Key Discussion Points & Insights

1. Millennial Trends as Models for Financial Independence

Kathleen Coxwell challenges traditional financial behaviors by examining eight key Millennial trends that could enhance retirement planning and overall financial wellbeing.

1. Sell the House (02:05)

• Millennials have the lowest rates of homeownership for their age group in history.
• For retirees, leveraging home equity through downsizing could aid earlier retirement or boost spending power.

2. Sell the Car (02:41)

• Millennials may own fewer cars, opting for biking, public transport, and car-sharing.
• For those approaching retirement, selling a car can significantly cut expenses, as transportation is the second highest retirement cost.

3. Get Rid of Your Phone and TV (03:17)

• Millennials have moved away from landlines and cable TV, choosing mobile phones and streaming.
• Cutting these “old-school” utilities can offer small but meaningful monthly savings.

4. Talk About Money (03:49)

• Millennials are breaking the taboo of discussing personal finances, especially online.
• Research cited: “three quarters of millennial couples talk about money once a week” (03:56).
• Regular discussions with peers can foster positive financial behaviors.

5. Seek Adventure (04:44)

• Millennials value new experiences and adventure.
• For retirees, trying new things can make time feel more abundant and enriching: “You can actually slow down the clock by trying new things.” (04:53)

6. Use Technology (05:28)

• Millennials view tech as a defining trait and utilize it for communication, planning, and financial management.
• Embracing digital tools makes retirement planning more accessible and can bridge generational gaps, even in family communication.

7. Seek Meaning (06:13)

• Millennials look for purpose in their work, not just a paycheck.
• This mindset can translate into a more fulfilling retirement by focusing on meaningful activities and engagement.

8. Go Ahead and Spend It (06:32)

• While not the best savers, Millennials spend on travel and experiences.
• Once financially independent, retirees are encouraged to actually enjoy their savings: “People have a really hard time spending their hard earned savings once they reach retirement.” (06:48)

Notable Quotes & Memorable Moments

• On homeownership:
  “If you’re like most people nearing retirement, your home is your most valuable asset, and the equity you’ve built up in your home can be used for retirement.” (02:17, Kathleen Coxwell)

• On transportation costs in retirement:
  “Transportation costs retirees more than even healthcare. Only housing costs more.” (02:57, Kathleen Coxwell)

• On talking about money:
  “Talking about money is a good thing. Behavioral research has found that having peers who have good financial habits can help you have good financial habits yourself.” (04:08, Kathleen Coxwell)

• On seeking adventure:
  “New experiences take more time to process, making time appear to last longer.” (05:02, Kathleen Coxwell)

• On Millennials’ relationship with technology:
  “While you’re probably not going to let technology take over your life, there are some pretty useful ways to use phones and computers to enhance your financial life and have a better retirement.” (05:35, Kathleen Coxwell)

• On embracing spending in retirement:
  “Once you achieve retirement or financial independence, the name of the game is actually spending.” (06:41, Kathleen Coxwell)

Personal Commentary from the Host

Reflecting on Generational Context (08:44)

• Diania Merriam addresses the broad generalizations about Millennials, noting they’re often misunderstood due to unique economic hardships:

  • “Millennials are the first generation in American history that are projected to make less than their parents did, and they’re burdened with massive student loans.” (09:02, quoting Forbes)

• On changing financial norms:

  • “I think the golden rule of personal finance is to spend less than you earn. So if there’s a trend of millennials not buying homes and cars they can’t afford, I see that as a good thing.” (09:27, Diania Merriam)

• On social and financial innovation:

  • “Gone are the days of working for one company for many decades and retiring with a comfortable pension… by making different choices than our parents, we’re building financial bandwidth to explore some more challenging questions, like, how do I want to spend my time, who do I want to spend it with, and what do I want to create in the world?” (09:45, Diania Merriam)

Timestamps for Noteworthy Segments

• [01:25] – Introduction to Millennial trends impacting financial habits.
• [02:05] – Point 1: Selling the house and using equity for retirement.
• [02:41] – Point 2: The financial wisdom in not owning a car.
• [03:17] – Point 3: Moving away from traditional landlines and cable TV.
• [03:49] – Point 4: The importance and benefits of talking about money openly.
• [04:44] – Point 5: Pursuing adventure for a richer retirement.
• [05:28] – Point 6: Leveraging technology for a better financial future.
• [06:13] – Point 7: Seeking meaning and purpose in post-work life.
• [06:32] – Point 8: The importance (and challenge) of spending during retirement.
• [08:44] – Diania’s commentary on Millennial context and financial independence.

Tone and Language

• The episode maintains an encouraging, practical, and conversational tone.
• Diania frames Millennial choices not as mistakes or rebellion, but as reflections of both necessity and innovation, often challenging outdated financial norms.
• The host emphasizes acceptance of change, critical self-reflection, and the value of questioning old standards for a happier, more financially secure future.

This summary offers a comprehensive overview of how adopting Millennial financial strategies can aid anyone—particularly those nearing retirement—in crafting a more sustainable, meaningful financial life. Diania’s insights reinforce the value of generational learning and the importance of adapting strategies to ongoing societal and economic shifts.