So Money With Farnoosh Torabi

Imagine you arrive at retirement with no savings. Imagine living entirely off of your social security paycheck, which currently averages $1,900 a month. Guest Anne Tergesen is a reporter for The Wall Street Journal and offers insights from the article she co-wrote recently, “Here’s What It’s Like to Retire on Almost Nothing But Social Security.”This episode is a replay from Feb 7, 2024. Hosted on Acast. See acast.com/privacy for more information.

Today’s show is about managing and making the most of an inheritance and other windfalls. The Great Wealth Transfer is unfolding, with a record number of assets passed down from generation to generation. Members of our audience have specific questions about this, and to help answer our questions, we have Pam Krueger, who is the founder of Wealthramp, a platform that matches you with qualified, pre-vetted, fee-only financial advisors that fit your priorities and preferences. Also joining is Marienela Collado, CFP and CPA for Tobias Financial Advisors.This episode aired originally on July 12, 2024. Hosted on Acast. See acast.com/privacy for more information.

We’re talking about the art of traveling smarter, not pricier, and why right now might be one of the best times to find travel deals. Joining is Dan Rodriguez, a travel expert who has turned his decades of globe-trotting into a career helping people earn and maximize points and miles.Dan is a certified travel advisor with Fora Travel, where he helps clients unlock VIP perks and luxury experiences. He also writes the Substack Holy Trip, You Guys at holytripyouguys.com, and you can find his day-to-day insights on Instagram at @holyshityouguys.This conversation was originally recorded inside the So Money Members Club this summer, where Dan joined us for an in-depth workshop on mastering travel rewards. Consider it a sneak peek of the kind of learning and access you get inside the Club. Hosted on Acast. See acast.com/privacy for more information.

Ever wonder why we take on debt knowing it will cost us — or why flashing a credit card can feel like flashing status? It’s not just poor math or bad habits. It’s biology, psychology, and marketing, all tangled together.In today’s episode, we unpack the psychology of spending with Wright State University professor and author John Dinsmore, whose new book The Marketing of Debt: How They Get You breaks down the subtle — and not-so-subtle — ways marketers capitalize on our optimism, impulsivity, and desire for status.We talk about:Why your brain underestimates the pain of future debtHow credit card companies brand products to play on our egosWhy handling money can make us less generousThe hidden costs of “quiet luxury” and keeping up appearancesAnd how Dinsmore’s own research found that just touching $20 bills increased testosterone and reduced charitable givingThis episode is a replay. Hosted on Acast. See acast.com/privacy for more information.

In this Ask Farnoosh episode, Farnoosh kicks things off with a personal story tied to her recent TODAY Show appearance, where she talked about “finance-proofing” your relationship. Reflecting on her own early money talks with husband Tim (over margaritas at their favorite tequila bar), she lays out the keys to financial transparency in couples — from shared goals to individual autonomy.Next, Farnoosh unpacks several top money headlines:Tariff Rebate Checks? A proposed bill would send $600 checks to Americans, redistributing billions in collected tariff revenue. Supporters call it a timely relief, while critics question whether it's a sustainable solution.Housing Market Reset: As pandemic-era price surges deflate in places like Austin, buyers may finally have leverage — but high mortgage rates remain a hurdle.AI and the Return of In-Person Job Interviews: Companies like Google are bringing back face-to-face interviews to combat AI cheating in virtual screenings.The Tooth Fairy’s Budget Cuts: Delta Dental repor

We are diving deep into wealth, class, and privilege with Sanibel, author of the novel To Have and Have More and an expert on the subtle—and not-so-subtle—ways the ultra-wealthy wield their status. If you’ve ever been curious about the behaviors and dynamics that go beyond “quiet luxury” or the “nepo baby” conversation, you’ll enjoy this conversation. Sanibel breaks down concepts like stealth privilege, coattail riders, and what she calls the rich person’s “cheat code.” We’ll also unpack the history of our cultural obsession with wealth in the U.S., why some believe wealth is a poison to our culture and explore why being “too rich” might just make you less empathetic.More about Sanibel: She is a writer based in NYC. She grew up in Princeton, NJ and studied Classics at the University of Pennsylvania before getting her MFA at The New School. Her essays appear in New York, Air Mail, ELLE, and Lit Hub. You can follow Sanibel on TikTok and Instagram.

Ever feel like your mistakes are holding you back? My guest today says they might just be your greatest asset. Kim Perrell is a wildly successful entrepreneur, angel investor, and now author of Mistakes That Made Me a Millionaire. In this candid conversation, Kim pulls back the curtain on the failures, missteps, and humbling moments that paved the way to her $235 million company sale — and how you can turn your own stumbles into stepping stones. We talk about why job security is a myth, the “70% rule” that helped her overcome perfectionism, how to stop self-rejecting, and why business is always personal.

This week's questions: What are the rules and costs for moving money from a brokerage account into a Roth IRA? Any risks to having a single bank that houses all your accounts? And how to find a good accountant?Additional Episode Take-aways:Why millennials are financially ahead on paper but still feel behind emotionallyHow to harness AI for smarter, more intentional spendingThe hidden costs of return policy abuse—and how it could impact your favorite retailersThe real danger behind “feminine energy” dating advicePractical ways to protect yourself financially in relationshipsWhy playful money trends like “Girl Math” aren’t as harmless as they seemLinks & Episodes Referenced: Priya Malani, Founder of Stash WealthSoMoneyLinks.com – My curated tools for saving, investing, and earning moreApply to Farnoosh BTS – My fall mentorship program for entrepreneurs and content creators\Want to ask a question for an upcoming show? Head to SoMoneyPodcast.com or DM me @FarnooshTorabi on Instagram!

Today we’re talking about “girl math”, but not in the way TikTok wants you to. My guest is Meg Wheeler, CPA, financial educator, founder of the Equitable Money Project, and all-around champion for financial equity. We unpack the viral "girl math" trend and why it may seem harmless but actually reinforces some pretty dangerous stereotypes about women and money. Meg and I both agree: women are not bad at math—and this kind of messaging does more harm than good.But we don’t stop there. We also dig into what it really takes to build wealth when you don’t come from generational wealth, how financial knowledge—not money—is often the most valuable asset, and why staying politically engaged is a financial strategy. Meg also talks about her popular Substack Call Your Representatives, and we close out with a little joy: what she's happily spending her money on this summer. Links + Resources Mentioned:Meg's Free Guide: equitablemoneyproject.com/somoneySoMoneyLinks.com – My curated tools for saving, investing, and e

From understanding if your 401(k) contributions help you qualify for a Roth IRA (spoiler: yes!), to figuring out why your home insurance just skyrocketed, to finding sneaky ways to save on that end-of-summer family vacation — we’ve got it covered on this week's Ask Farnoosh.Plus, a personal story about how a casual chat with a friend helped Farnoosh raise her speaking fees and start earning more.We’ll also unpack a few of the biggest money headlines from the week, including:What the Fed’s latest decision really means for your walletA rare bipartisan housing bill with real promiseAnd a study that shows how preschool could boost your salary, not just your kid’s futureQuestions Answered:“How do I ask for a sign-on bonus without sounding greedy?”“Do 401(k) contributions help me qualify for a Roth IRA?”“How can I save on a last-minute family vacation?”“Why did my homeowners insurance premium jump 30% this year?”Links + Resources Mentioned:SoMoneyLinks.com – My curated tools for saving, investing, and earning moreA

What would happen to your bank account, your home, your small business—if you were suddenly detained or deported? Today we're talking about a growing and urgent financial concern: how to protect your assets amid immigration raids and deportation worries.My guest is personal finance legend and CNBC Senior Personal Finance Correspondent Sharon Epperson, who recently reported on the financial steps immigrants—documented or undocumented—can take to prepare for the unexpected. From designating a power of attorney to understanding the legal implications of asset ownership abroad, Sharon walks us through practical strategies to safeguard your financial life in turbulent times.We also discuss the emotional toll of financial uncertainty, the ripple effects on families, and why proactive planning is a form of empowerment. Sharon opens up about her own health crisis that forced her family to activate emergency plans—offering a powerful reminder of why preparing for the worst can make all the difference.References:Read S

Visit stashwealth.com/somoney for a secret stash of financial goodies.On today's episode: Where do you stand on budgeting? Hate it? Feel defeated by it? You’re not alone—and you’re going to love today’s episode.We’re joined by Priya Malani, the dynamic founder of Stash Wealth and host of the new podcast The F. Word, who’s making personal finance simpler, smarter, and honestly, more livable—especially for high earners in their 30s who feel like they’re still behind.In this conversation, we dive into:Why budgeting is broken and how to reverse it with one powerful numberThe myth of homeownership as the best investmentHow to avoid the trap of lifestyle inflation—even on a six-figure salaryAnd why investing isn’t hard, but the emotional baggage around money absolutely isWe also explore the emotional side of financial planning—where therapy meets strategy—and the mindset shifts Priya helps her clients make to stop living paycheck to paycheck and start building real wealth.

This week Georgia Lee Hussey of Modernist Financial joins to break down the challenges and solutions for affording elder care, especially as it may fall on adult children to pay for their parents' expenses. Read more about this topic in The New York Times.Join FarnooshBTS.comFind a HYSA at SoMoneyLinks.com

Where do you think you are on the wealth ladder? Just starting out and struggling to save? Sitting on six figures and wondering what’s next? Or maybe you’ve hit a financial milestone—but it doesn’t feel as life-changing as you expected.Today’s episode is all about understanding what changes—and what should change—as you move up the financial ladder.My guest is Nick Maggiulli, author of The Wealth Ladder, a new book that introduces a six-level framework for wealth building and financial strategy. We dive into the key questions we all face on the journey to financial independence:How do you break out of Level 1 when you’re living paycheck to paycheck?Is a side hustle actually worth your time—or just another distraction?And how should your mindset and money strategy evolve as your net worth grows?Plus, we explore his 0.01% spending rule and 1% earning rule—two powerful benchmarks to help you spend smarter and pursue income opportunities that truly move the needle.More about Nick: He is the Chief Operating Office

Ww’re pulling back the curtain on one of the most powerful — and least understood — forces shaping our economy: private equity.My guest is Megan Greenwell, a veteran journalist and former editor-in-chief of Deadspin, whose new book, Bad Company: Private Equity and the Death of the American Dream, is both a searing exposé and a deeply human investigation. Through vivid storytelling and meticulous reporting, Megan shows how private equity firms, often operating in the shadows — have quietly reshaped entire industries: health care, housing, local news, retail, daycare, even emergency services.At the heart of Bad Company are four Americans — Liz, Roger, Natalia, and Loren — whose lives were upended by private equity–backed takeovers of the institutions they depended on. Their stories reveal how a business model designed to extract maximum profits for investors has left devastation in its wake for working families and entire communities.This is a conversation about capitalism, inequality, and the hollowing out of

Apply for Farnoosh's 4-month mentorship program at FarnooshBTS.comHow much do you need in net worth to feel wealthy? This week's Ask Farnoosh covers recent money headlines about wealth. student loans and social security. And audience questions related to windfalls, investing and debt management.

Today’s episode is a powerful conversation about legacy, love, and how technology is reshaping the way we protect our wealth and our families.My guest is Martha Underwood, a 25-year tech veteran and the founder and CEO of Prismm, a digital vault platform that helps families and financial institutions securely manage documents, streamline inheritance transfers, and reduce the chaos that often comes with crisis. Prism was born out of Martha’s own family emergency—when her father was injured during Hurricane Irma and no one could locate the documents needed to access care or funds.Since then, she’s made it her mission to protect consumers—especially women—from being left out or left behind when it matters most.In our conversation, we talk about the rise of AI bias and what it means for your money, the real risks of becoming unbanked, and how your data—yes, even your browsing history—can be used to make financial decisions about you without your knowledge or consent. Martha also shares smart, practical advice for

Today’s guest is no stranger to reinvention—or to messiness.Maryam Banikarim is a powerhouse C-suite executive turned podcast host whose résumé reads like a tour through media, hospitality, tech, and purpose-driven leadership. She’s served as Global CMO at companies like Hyatt, Gannett, and Nextdoor. But in her latest chapter, Maryam is pulling back the curtain on the glossy LinkedIn life and telling the truth, the messy, nonlinear, sometimes gut-wrenching truth, about what it really takes to build a career, a family, and a sense of self.Her new podcast, The Messy Parts, is a must-listen for anyone navigating personal and professional pivots. It’s raw, wise, and often hilarious, featuring guests like SNL alum Ana Gasteyer, Broadway composer Tom Kitt, and billion-dollar founders Cass and Mike Lazerow.In our conversation, Maryam and I talk about everything from career burnout to billion-dollar regret, the emotional toll of job loss, the value of taking a pause, and why being honest about your struggles is the k

This week: Topics covered include the financial implications of divorce, starting an investment account for children, addressing a toxic workplace, and planning for a new business venture. Farnoosh also discusses a concerning trend on TikTok about 'stay at home girlfriends' and provides practical advice on managing personal finances and investments effectively. Additional discussions include tips for college students to gain an edge in their fields and the decision-making process behind forming a business entity.

Today’s guest has long been a trusted voice in the world of smart shopping and consumer advice, and now she’s turning her attention—and resources—to a new mission: empowering midlife entrepreneurs. Trae Bodge is a journalist, television commentator, and consumer expert who’s helped millions save at the checkout. However, after the passing of her mother in 2023, Trae felt compelled to do something more profound and personal.In this episode, we discuss her newest venture, the Threadneedle Alley Foundation, a nonprofit she recently launched to provide $5,000 grants and mentorship to midlife entrepreneurs facing financial hardship. The organization is named after the street where her mother ran a beloved small business for decades, and this work is Trae’s way of honoring that legacy while addressing a gap she’s long observed in her professional life: great small business ideas without the resources or support to thrive.We explore why midlife is often the perfect time to launch a business, the biggest misconceptio