So Money With Farnoosh Torabi

My husband and I will be quitting our jobs later this year to travel globally for a year. Aside from savings and insurance, what should we consider?My husband and I contribute to our retirement, savings and children's 529 plans. Should we be adding to these buckets or putting our money elsewhere?What are risks to consider when renting out part of your home?Answering these questions and more with co-host and marketing consultant Erica Gellerman.To learn more about Erica visit www.ericagellerman.com or follow her on Twitter @ericagellerman.For more visit www.somoneypodcast.com.

I have a question for you: What would it be like to have a bank balance with 9 zeros? A billion dollars? What does it take to reach that amount? Our guest today, Mitch Cohen, co-wrote a book answering that question. It’s called The Self-Made Billionaire Effect.There are more billionaires walking the planet today than ever before. Jeff Bezos, Mark Zuckerberg, Sara Blakely. According to Forbes, 2017 was a record year with the number of billionaires climbing 13% to 2,043. And 56 of them are under the age of 40!But there are only about 800 or so self-made billionaires, according to Mitch. He shares some of the characteristics of these wealthy individuals including an empathetic imagination and patient urgency (sounds conflicting, right?)Mitch has spent over 30 years in the financial industry. He is a retired Vice-Chairman at PricewaterhouseCoopers, where he served as a partner for over 20 years. It was there that he got the opportunity to meet and analyze the work and mindsets of some of the richest people.I also

If you like financial podcasts then I think you’re going to be happy to know that today we are featuring a very successful top female financial podcast host and certified financial professional, Shannah Compton Game.She’s the host of Millennial Money. It’s a daily podcast catering to millennials and young adults, boasting over three and half million downloads since launching about three years ago. She and I are doing crossover interviews today. So, if you check out her podcast you can hear her interview me. It's really wonderful to connect with a fellow female podcaster in this space.Shannah and I go deep. We right away began talking about the financial lessons she learned from her divorce, the most surprising thing that she learned about millennials and money in doing her podcast and the number one piece of advice that she has for women.To learn more about Shannah visit shannahgame.com or follow her on Twitter @shannahgame.To learn more visit www.somoneypodcast.com.

What's your advice regarding the stock market? How do I protect my gains from the last 7-8 years?What’s your advice on asking for a raise while working for a non-profit?How do I continue my salary negotiations when I’ve already had the conversation about 10 times and I keep hearing “yes, you’re in line once the budget frees up?Answering these questions of yours and more with co-host and CFP Amy Irvine.To learn more visit www.somoneypodcast.com.

How much are you paying in 401(k) fees?A lot of us listening to this show, we have 401(k), or 403(b)’s and the like. These are retirement plans typically offered through our employers. Have you really ever taken the time to figure out how much you’re being charged in fees to invest to these portfolios?Today’s guest is Josh Jenkins-Robbins. His mission in his career, and in his life really, is to pull back the veil on all the excessive fees he claims these 401(k) plans charge. He is the Chief Strategy Officer at America’s Best 401(k). There, they try to save investors up to 40% in fees.On the show, we talk about why the 401(k) market needs disrupting and how we can all reduce our fees, and maybe even play some catch up in our retirement accounts if we feel behind. It’s worth mentioning that Josh is also Tony Robbins’ adopted son. As we know, Tony is the number one life and business strategist in the country. He was also my very first guest on So Money. I had to ask Josh what it was like growing up with Tony as

Do you feel like you’re quarter-assing your way through life and work?Our guest today is Abby Lou Walker, a former corporate executive turned entrepreneur. Her pivot came as she discovered she was unfulfilled at work and taking her stress and disappointment home to her family where she was the mom of two young children...and as she described, quarter-assing her way through work and life. Never feeling like she was really successful in either realm.So, Abby turned to a creative outlet for some release - blogging about shoes for just 1 hour per week. While blogging, she made a chance discovery about an untapped market and the rest is history.Today Abby Walker is the CEO of Vivian Lou, a 7-figure company that creates comfortable insoles for high heeled shoes. She is also the author of the new book Strap on a Pair: A Middle-Aged, Middle-Management, Middle-Class Mom's Quest for Something More.Abby shares how she overcame some of her personal limiting beliefs around earning money, why she equated being rich to bein

Is my debt to income ratio too high to be considered for a mortgage?What ways are good ways to payoff my mortgage faster?My new job offers a 3% match for our 401K. What are my best options for my current 401k ($150K+)?  Do I rollover into the new plan? An IRA?Answering these questions of yours and more on this week's Ask Farnoosh with co-host and former So Money guest Erin Lowry of Broke Millennial.To learn more or share your own question for an upcoming Ask Farnoosh visit www.somoneypodcast.com.

I’m excited to welcome back today’s guest, Jennifer Hemphill, who is a friend of the So Money show. You can listen to her first episode, #117, but today she’s back because she has some exciting news: Her book, Her Money Matters: The Missing Truths From Traditional Money Advice, launched on February 13.    For those of you who didn’t hear her first episode, here’s a little bit about Jen: She’s an accredited financial counselor, blogger, podcaster, military wife, mother of two, and now, author.One thing that sets Jen apart is that she gets to the root of how our emotions and upbringing affect our money stories. Today we’ll be talking about:Forgiveness. Why and how to forgive yourself when it comes to your financial setbacks.Whether or not budgeting is necessary - Plus, a critical piece about budgeting few talk about.Why most of us are only getting 10% of our financial life right.To learn more visit www.somoneypodcast.com.

Are you someone who aspires to earn a million dollars a year or more as an entrepreneur? Or, maybe you’re already making this much money. Today’s guest has some incredible insights for all of us.Elaine Pofeldt is the author of the new popular book, The Million Dollar One Person Business. It’s about entrepreneurs who earn more than a million dollars a year on their own without any staff employees. Elaine began her career as a senior editor for Fortune Small Business magazine. She’s been nominated for numerous awards and she’s been a freelance journalist for over 10 years now. Her latest research involves speaking with, interviewing dozens and dozens of entrepreneurs across the country, who’ve hit the one million dollar revenue mark. She discovered what makes them tick, how they reinvest their income and how much are they really taking home.We talked about margins as I think that’s one of the big important aspects of making money as how much do you actually pocket. Elaine is a self-employed journalist and mom o

Will you talk more about the strategy to save a million dollars to retire? What type of savings account should I use if this is my goal?Should my wife and I continue to rent or does it make more sense for us to buy a home?Any guidance on how to get a book published?Answering these questions of yours and more with co-host Apryl Pope of Apryl Pope Financial.To learn more or share a question for an upcoming show please visit www.somoneypodcast.com.

Today, I’m excited to welcome back a former So Money guest, Liz Thames, also known as Mrs. Frugalwoods. I always love having former guests back on the show so we can catch up and share what they’ve been up to.I introduced you to Mrs. Frugalwoods, the blogger behind frugalwoods.com, way back in episode 239 when she was pursuing retirement, hoping to achieve financial independence by 33 years-old. She did it! She’s 33 years-old now and has officially reached that goal. She and her husband, now parents to a 2-year-old with another baby on the way, have left their day jobs and have more or less “retired.” They’ve moved away from city life to a beautiful homestead in Vermont that’s nestled on 66 acres of woods.She no longer anonymous. Liz is out and about, now that she’s achieved financial independence with her husband. In fact she’s written a tell-all called Meet The Frugalwoods: Achieving Financial Independence Through Simple Living, which is due out on March 6.We discuss how she and her husband are sticking to

Today, I’m interviewing Tanja Hester, who has been retired now for just a couple months. Here’s the thing, though, she’s only 38 years old.Tanja and her husband both worked as political consultants making six figures each. Both of them loved their work and found it fulfilling. However, after watching her father lose his mobility early in his life due to a degenerative neuromuscular disability, Tanja realized she could have the same fate. So, she decided to spend her able bodied years hiking, traveling, and enjoying all the world had to offer --- away from the office. After years of saving half their income, Tanja and her husband finally reached financial independence. At the end of 2017, they left their careers and are currently enjoying outdoor life where they live in Lake Tahoe.Along the way, Tanja started a blog called Our Next Life to document her journey. It now gets over 150,000 page views every month and even earned her the 2017 Plutus Award, the top honor in the personal finance community, for one of

What are your thoughts about investing in cryptocurrency?Once you have an idea to start a business, how do you get started? Should you research, write a business plan? What are practical first steps?I'm leaving a job where I recently combined my 403b and annuities in one place. Should I leave the money there or take it to the new job?Answering these questions of yours and more with co-host and So Money listener Amy Saruwatari.To learn more or share a question for an upcoming Ask Farnoosh visit www.somoneypodcast.com.

What would you do if you woke up with $662,000 of student loan debt?Yes, you heard that right, $662,000 in just student loan debt.Well, that’s what happened to Drs. Renée and Nii Darko. After meeting in medical school and completing rigorous surgical residencies, Renée and Nii woke up to see their total debt balance had ballooned to the high six figures after years of deferment and forbearance.Stressed, confused, and not making any progress on actually paying down their principal, the Darko family decided to get serious. They cut out their pricey insurance policies, took on a significant amount of extra shifts at hospitals all over the country, and reprioritized everything. And by prioritize, I mean they only paid $200/month in groceries for 2.5 years!The result of all this hard work and adhering to that strict budget was that they paid off all their debt in only 3 years!Today, I’m talking to the couple about how they did it and the challenges they encountered along the way (like the three failed IVF rounds t

Today, I’m sharing a story with you of a remarkable young woman who got out of $30,000 worth of debt in 96 days.  That’s right.Mary is a Financial Coach who runs her own business called Abundant Wealth Solutions where she helps people eliminate their student loan debt and achieve financial freedom.Mary didn’t always have a strong grasp on her finances, though. She actually grew up in the projects in Mississippi where she says she was surrounded by a culture of consumption. It took her years to figure out a way to climb out of debt and build her own net worth.We’ll talk about this and more, including the job she had working in a deli for two years after getting her college degree and the moment she realized it was time to finally pay off her debt once and for all…To learn more visit www.somoneypodcast.com.

What advice do you have for a couple moving in together? Some expenses aren't so black and white.What should I prioritize in 2018, career development or having a baby?Answering these questions of yours and more with co-host Adenrele 'Addy' Adewusi of MaddyMoney.com.To share a question for an upcoming Friday show or learn more visit www.somoneypodcast.com.

We're a few weeks into the New Year and I'm guessing you might have made a resolution or two? If your resolution was to be better with money or create a happier life then you already know you're in the right place.But our guest today is an expert at this. She's also a renowned life coach. Leisa Peterson helps people get out of their own way when it comes to money so that they can live a life full of joy and abundance. She's a long-time entrepreneur and money expert. She also has her own podcast Art of Abundance.Lisa, like probably many of us listening, has had a fascination with money at a young age. Her relationship wasn't the healthiest. A tragic death in the family was a life-changing moment, at which point she found the need to reconcile many of relationships, including her relationship with money.To learn more visit www.somoneypodcast.com.

Our topic today is… pizza. Specifically, plant-based, vegan cauliflower pizza crust. Intrigued? So was I.Today’s guest, Amy Lacey started making cauliflower pizza crust in her kitchen in order to find healthier alternatives to her favorite foods after being diagnosed with lupus.With the help of her daughter, Caroline, she created a proprietary recipe that her friends and family loved so much, they encouraged her to go out and sell it. After selling the crusts at her local farmer’s market, Amy decided to start selling them online too.That decision was a resounding success. Last year, her company went from negative $250,000 to earning $4 million dollars in only 10 months.What does she contribute to her success? Well, there are currently 23.5 million people who suffer from an autoimmune disease. Amy’s products offer them a way to enjoy the food they love the most without uncomfortable side effects.Plus, Amy runs her business with the commitment to make an incredible difference and give back to her community. She

What are good ways to pay off my mortgage faster?How do I involve my spouse in our retirement planning without scaring him off with the numbers?I feel like something is always happening to us and we have to use the money we've saved to pay something off. Now, we're left wondering how we'll afford daycare in 9 months. Help!Answering your questions this week with co-host and So Money listener Steven Blivess.To learn more or share a question for an upcoming Ask Farnoosh Friday episode, visit www.somoneypodcast.com.

Tricia Brouk is our guest today and she does it all: she works in film, tv, theatre, and is a writer, director, and choreographer. She’s also the founder of The Big Talk, a popular service where she uses her expertise in the art of public speaking to make other big talks and keynotes a success. Her clients have gone on to earn 7-figure income streams, receive invitations to speak with the FDA, and speak at TEDx events around the country.Tricia recently produced a documentary called The Dinner is Full about a man named Chris who started the 747 Club, a dinner club for strangers to gather and meet authentically around simple pasta sauce. Her next musical is Committed, coming in February 2018. This show tells the story of eight psychiatric patients struggling with their mental illnesses in a 1989 psychiatric ward. The aim of the show is to de-stigmatize mental illness through honesty, humor, and art.Tricia is also the producer of TEDxLincolnSquare, and the host of the podcast The Big Talk, where she currently in