So Money With Farnoosh Torabi

The topic today is college savings. So many of you write-in asking,"Farnoosh, where should I save for my child's college education? Is a 529 still the best option?" Some even want to know about how to save for our unborn children! I get it. College is expensive today, let alone 18 or 20 years from now.   To help us tackle college savings plans, we have the co-founder and COO of CollegeBacker Abby Chao joining us. Prior to launching the company, Abby was a senior associate and social sector fellow at McKinsey & Company.What's interesting is that only 30% of Americans know what a 529 plan is. That's where CollegeBacker wants to help. It's a new company that's educating parents around it and make it easier for them to save up for their child's college costs. Their trick: involving your community of friends and family. At CollegeBacker you can open a 529 plan and invite others to contribute.  Abby and I discuss 529 pros and cons of starting an account like this. It's not a given that a 529 is the best way to save

I have two daughters, 12 and 14... how do I teach them to invest?Does closing a checking or savings bank account affect your credit score?Is a Roth IRA or 457b government deferred compensation plan better for a 27-year old who is planning for retirement for the first time?Answering these questions of yours and more on this week's show with So Money friend and Profit Boss Radio host Hilary Hendershott.To learn more about Hilary's event on Friday, January 19th in San Jose, CA visit www.profitbosslive.com.To learn more visit www.somoneypodcast.com.

Health is wealth, right? Many of you have New Year’s resolutions to be healthier in 2018. So, I thought it would be appropriate to bring on a guest today who is an expert on, particularly, pelvic relief. The topic is a little sensitive, a little private. Sometimes we don’t talk about this issue very openly.Both for men and women, particularly us moms after having babies, this can be an area of tension and pain. But as Isa says, “If your pelvis isn’t healthy, your money can’t be healthy.” What’s that correlation about? Isa will explain.She's a licensed physical therapist and an expert in women’s health. She's the founder of pelvicpainrelief.com, which is an online educational portal. Isa also has a healing center here in New York City. She is the author of five books on the topic of women’s health and she says that her passion for pelvic health was born from her own personal hardships after the birth of her first daughter, Ella. Isa also talks about the benefits of growing up poor, the childhood experiences th

From earning $7/hr abroad in his country Slovenia to running a six-figure online business, our guest today is So Money. Online business coach Primoz Bozic works with world-class experts (think: celebrity make-up artists, songwriters, high performance coaches, etc.) to turn their expertise into an online business and create what he describes as "the absolute best content online." Primoz started out as a programmer in Slovenia earning minimum wage and eventually went on to become a student of I Will Teach You To Be Rich and former So Money guest Ramit Sethi.We discuss not just his business and journey but also some of the cultural differences between the U.S. and Slovenia, especially when it comes to money. It is culturally unacceptable to talk about money in Slovenia. Primoz does not feel comfortable talking about his success with family or friends. So, that was an interesting conversation!To learn more visit www.somoneypodcast.com.

What are signs that a seller is being scammy on a resale site? How do I identify items around the house worth selling? I'm on track to get promoted but the increase in pay my supervisor mentioned was underwhelming... How should I go about negotiating for more money?Answering these questions of yours with special co-host and former So Money guest (EP 226) Shannon Wilburn, co-founder of Just Between Friends consignment.To find a Just Between Friends event near you visit jbfsale.com.For more information or to share a question for an upcoming show visit www.somoneypodcast.com.

Sheila Bair is the former FDIC Chair and, at one point, was named Forbes 2nd most powerful woman in the world. Her agency was responsible for steering us through the financial crisis of 2008. She received numerous awards and recognition for her work during this time.She's had a distinguished career in government, academia, as well as financial roles. Her work has been published in the New York Times, Wall Street Journal, Washington Post and countless other places.During our show today, Sheila and I catch up because we were in touch during the crisis. I often would call her desk to learn about what was going on and get some updates or fact check for my reporting. She was always available for my questions. So, I jumped at the opportunity to interview her as we embark in a New Year. I got a chance to ask her what has history taught her as she looks to where the market is headed? How is the economy doing? Could we see a recurrence of the calamities of 2008 and 2009? Sheila tells me her newest obsession is retirem

Today is the first day of the New Year. So, I wanted to start off with a theme that I’m really working for in the New Year, which is making your own rules, being a badass and just being your So Money-ist. Therefore, I couldn’t think of a more appropriate person to have us kickoff 2018 than Katia Beauchamp.She's the co-founder and CEO of Birchbox, which is a leading beauty subscription service and store. She and I connected last time on CNBC's Follow The Leader. I had the chance to follow her around for 48-hours. I learned Katia is a force. You can just Google her. She is a leading voice and champion for all women who work.During our time together today, we discuss being unapologetic about having it all and wanting it all, how companies can create an environment where women can feel the freedom to have their families and thrive at work and how she and her husband manage their personal finances. I had to go there because I’m super nosy, and I’m glad to report that she was game.To learn more visit www.somoneypod

Should we use most of our cash savings to pay off our credit card debt? My biggest challenge is budgeting… should I open a bank account with a major bank to help save and budget? How do you deal with both saving for retirement and paying off student loans?Answering these questions of yours and more on this week’s Ask Farnoosh with special co-host and business money strategist Justin Krane.This episode originally appeared on Friday, September 29, 2017 as episode 632.To learn more visit www.somoneypodcast.com.

We’re exploring fear and failure on the show today. It’s not my intention to end the year on a sour note. Instead, we’re going to review all the badass, wonderful insights our guests have shared on how they fought their fears and how failure allowed them to become the strong, successful people that they are today.Our financial fears come up quite a bit on the show, as guest talk about their fears of losing money, going into debt and, ultimately, not having enough. Hopefully, failure is something we have learned to embrace, as countless guests have credited their achievements to failing hard, at least once.This episode features excerpts from:Akshay Nanavati, Fearvana Author from EP 595James Altucher, Serial Entrepreneur and Bestselling Author from EP 597Sarah LaFleur, Founder and CEO of MM.LaFleur from EP 591Wendy Sachs, Fearless and Free Author from EP 574To learn more visit www.somoneypodcast.com.

This is our third show dedicated to reviewing the best of the year. Today, we are focusing on the intersection of women, work and money.As you can imagine, this topic came up a lot in 2017. It was a historical year for women. Starting back in January, we had the Women’s March on Washington, which was reportedly the biggest single-day demonstration recorded in our country’s history. Then late in the year, the #metoo movement, an outpouring of women’s accounts of sexual harassment in the workplace led to a number of high-profile and highly paid men losing their jobs over overwhelming claims of sexual misconduct.Call me an optimist, but I sort of feel like the New Year has got to see an uptick in female hires and promotions. Right? But to bring this all back to the podcast and the goal of So Money, in this episode we'll bring stories and strategies that can help us all conquer our financial challenges, especially for us women.This episode features excerpts from:Sallie Krawcheck, "Own It" Author from EP 532Alice

I've met my financial goals... can I spend some of my money on something "fun?" My parents think I shouldn't.My boyfriend and I just moved in together and are wondering... should we save for a wedding then a house or a house then the wedding?Should I increase my auto insurance deductible?This episode originally appeared on Friday, February 10, 2017 as episode 533.To learn more visit www.somoneypodcast.com.

Who wants a raise? Who wants to make more money? That’s all of us, right? Today’s theme is how to make more money. I'm talking the MOST money you ever thought possible. The fact is a lot of us grapple with how to value ourselves, both as employees, as contractors and entrepreneurs. Remember: You don’t get what you deserve, you get what you negotiate. Has that stuck with you yet?This episode will feature excerpts from:Ali Brown, Entrepreneur and Host of Glambition Radio from EP 585Latham Thomas, Founder of Mama Glow from EP 652Simon Sinek, Motivational Speaker and Bestselling Author from EP 631Deepak Chopra, Alternative Medicine Advocate and Author from EP 624To learn more visit www.somoneypodcast.com.

It’s the most wonderful time of the year and I’m not talking about the holidays. We’ve reached that time of year again where I highlight some of the great interviews we’ve had in 2017. It’s tough to narrow it down but we’ve got a great lineup for you. We’re kicking off our year end wraps with some of the best interviews on the topic of retirement, specifically early retirement. Many of you want to know how to get out of the grind wooner than later. We've been fortunate to have some early retirees stop by the podcast to share their insights.This episode features excerpts from:Kristy Shen, Canada's Youngest Retiree from EP 528Grant Sabatier, Millennial Money Founder from EP 618Chris Reining, Early Retiree from EP 661Emily Guy Birken, "End Financial Stress Now" Author from EP 570To learn more visit www.somoneypodcast.com.

I swore 2017 would be my year to conquer my personal finances but I didn't even come close... help!My family lives on the east coast and wants us to all fly home for the holidays. It's expensive for us so what should we do?Answering your questions with special co-host Kimmie Greene, consumer finance expert for Mint.To learn more or share your own question for an upcoming Ask Farnoosh visit www.somoneypodcast.com.

As we approach the end of the year, I thought we’d like to hear from one of the country’s top health and nutrition coaches. Lauren Slayton is the founder of Foodtrainers, a private nutritional counseling office in New York City. She’s also the author of the popular book, The Little Book of Thin.Lauren is on the podcast talking about the financial lessons she learned from her mom, a feisty business woman in Manhattan who operated parking garages. We also discussed the benefits of saying no and why it feels so good. And of course how to stay in our jeans over the holidays.To learn more visit www.somoneypodcast.com.

You know, it's never a perfect time to talk about things like life insurance, estate planning and wills. It's kind of a downer. But, your financial life would not be so solid if you didn't take care of these issues. I think it's important that we talk about them on this podcast. To help us, I brought on Estate Planning Attorney, Laura Cowan.She just wrote a free e-book that you can all download here or by visiting momdadfreebook.com. It's called Wear Clean Underwear!, the subtitle is: A Fast, Friendly and Essential Guide to Estate Planning For Busy Parents. Laura practiced law for many years at a big legal firm before opening up her own practice in New York City. She drafts wills, trusts and other documents to make sure families are taken care of. She has seen it all. Experienced it all. We go right to the topic and find out why we need wills, how do we get one and what about life insurance? Do you really need it?To learn more visit www.somoneypodcast.com.

My boyfriend and I are recent grads, and we don't have too much experience with personal finances. Should we get a financial planner? What do we need to know? When do I disclose I'm pregnant if I'm interviewing for a new job? I'm not sure how much to give for holiday tips, and to who? Do you have any suggestions? Answering these questions of yours and more on this episode of Ask Farnoosh with guest co-host Liz Theresa. To learn more go to somoneypodcast.com. 

Chris Reining retired at 37 after making his millions. He worked at his dream job initially in information technology earning $75,000 a year. He admits he was living a pretty good lifestyle but felt that the nine to five grind was just too much. At 30, he set a goal of having a million dollars in a brokerage account by 35. He began saving 50% of his income. By 35, not only did he reach this goal, he surpassed it and he credits it to one simple habit: automation.To learn more visit www.somoneypodcast.com.

Josh Sundquist was diagnosed with a rare bone cancer when he was just 9-years-old and told he had a 50% chance of living. From there he spent one year undergoing chemotherapy and eventually had to have his leg amputated.The doctors, though, declared him cancer-free four years later and then three years after that —Guess what? He was training as a ski racer. Today, he is a Paralympian and he has an absolutely remarkable story. Josh is also a motivational speaker and author of the bestseller Just Don’t Fall. Earlier this season he shot a really cool video with our mutual brand partner, Chase. It was really inspiring. If you go to somoneypodcast.com, you can grab the link to watch it.To learn more about Josh visit his website here or follow him on Twitter @JoshSundquist. 

My husband and I just got married ...should we combine our retirement planning?How often should I check on my retirement savings?Answering these questions of yours and more on this special episode of Ask Farnoosh brought to you by Citizens Bank with co-host and President, Citizens Bank Wealth Management, John Bahnken.To learn more visit www.somoneypodcast.com.