So Money with Farnoosh Torabi

Latest Episodes:

1065: New York Assemblymember Rodneyse Bichotte Jul 06, 2020

Show notes

Rodneyse Bichotte is the first Haitian-American woman elected in New York City, representing Brooklyn as the Assemblymember and State Committee Woman / District Leader for New York State’s 42nd Assembly District. She represents Flatbush, East Flatbush, Midwood and Ditmas Park in Brooklyn.

We discuss how a life-changing accident at the age of ten led Rodneyse to a career in public service, key initiatives she is working to pass to better the lives of the most vulnerable in New York City, and her economic predictions for the future of the Big Apple.

Born and raised in Brooklyn, Rodneyse is the first Engineer elected to the New York State Legislature; and the first woman to chair the Brooklyn Democratic County Committee.

To learn more about Rodneyse and visit the Minority and Women-Owned Business Enterprises Center check out: https://assembly.state.ny.us/mem/Rodneyse-Bichotte

How's midlife going? Fill out Farnoosh's survey and help shape the podcast in 2027.

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1064: Ask Farnoosh: Best Credit Cards, HELOCs and Buying versus Renting Jul 03, 2020

Show notes

In this episode of Ask Farnoosh, host Farnoosh Torabi and guest Georgia Lee Hussey, CFP and CEO of Modernist Financial, address recent questions posed by listeners. What are the best credit cards for big purchases? Should I take out a student loan or pay for school in cash? Should I tap my home equity line of credit to renovate my home? And much more. Plus, Farnoosh selects 3 iTunes reviewers to each receive a free 15-minute money session.

How's midlife going? Fill out Farnoosh's survey and help shape the podcast in 2027.

Hosted on Acast. See acast.com/privacy for more information.

1063: Adam Auriemma, Editor-in-Chief of NextAdvisor Jul 01, 2020

Show notes

Joining me today is the new Editor-in-Chief of NextAdvisor, Adam Auriemma.

NextAdvisor is a brand new personal finance platform that just launched earlier this summer, in partnership with Time Magazine. I am a contributing editor for the platform and my first piece is about how we bought a house in the pandemic (all the behind-the-scenes!).

The site is full of timely and important content related to financial wellness and making smart money moves. One piece I really love is 50 Smart Money Moves You Can Make Right Now, which Adam authored after interviewing many experts including Suze Orman, Mel Robbins, and Erin Lowry, author of Broke Millennial.

Adam and I discuss:

How NextAdvisor's point of view is slightly different in the world of personal finance content.
How the platform is thinking about money in the context of race and class.
How Adam's personal views on money have shifted in the pandemic and recession.

More about Adam: He is a personal finance journalist and the former editor-in-chief of Money magazine. He has also been a deputy bureau chief at The Wall Street Journal, managing editor of The Daily Beast, and deputy editor of Fusion, a joint venture of Univision and ABC News. Teams working under Adam’s leadership have received the Gerald Loeb Award for Business and Financial Journalism, a National Association of Black Journalists Digital Media Commentary Award, and an Emmy nomination for Best Cultural/Topical Documentary.

Follow NextAdvisor on Instagram @NextAdvisor.

How's midlife going? Fill out Farnoosh's survey and help shape the podcast in 2027.

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1062: Black Wealth Matters: Tiffany Dufu, Author of Drop the Ball and Founder of The Cru Jun 29, 2020

Show notes

In our final installment for Black Wealth Matters, we welcome Tiffany Dufu. She is founder and CEO of The Cru. Their algorithm matches circles of women who collaborate to meet their personal and professional goals. She’s also the author of the bestselling book Drop the Ball: Achieving More by Doing Less. According to foreword contributor Gloria Steinem, Drop the Ball is “important, path-breaking, intimate and brave.”

Tiffany and I discuss how she was able to raise $1 million for her startup when only .0006% of Black women receive tech venture funding. She also shares pivotal money memories from childhood....and also, what to make of the Girlboss movement and its recent criticisms for not being inclusive enough?

Named to Entrepreneur's 100 Powerful Women and Fast Company’s League of Extraordinary Women, Tiffany has raised nearly $20 million toward the cause of women and girls. She was a launch team member to Lean In and was Chief Leadership Officer to Levo, one of the fastest growing millennial professional networks. Prior to that, Tiffany served as President of The White House Project, as a Major Gifts Officer at Simmons University, and as Associate Director of Development at Seattle Girls’ School.

How's midlife going? Fill out Farnoosh's survey and help shape the podcast in 2027.

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1061: Black Wealth Matters: Yemi Rose, Founder of OfColor.com Jun 26, 2020

Show notes

The newest guest in our #BlackWealthMatters series is entrepreneur Yemi Rose. He is the founder of OfColor, a digital financial wellness platform focused on providing content and banking tools built around how people of color save, spend, and build our legacies differently.

We discuss the role financial services has played and continues to play in widening the racial wealth gap.
Growing up in Jamaica and the differences of “being Black” there versus here in the United States.
Why we may want to rethink the expression “racial wealth gap.” Does it deserve a renaming?
How his startup OfColor will provide better access to financial tools and education to an underserved community.

Yemi has spent almost two decades at the intersection of financial services and communications/marketing focused on financial wellness, most recently as the Vice President of Financial Wellness Enterprise Initiatives with Prudential Financials’ Global Communications Group.

In this most recent role, he led the development of Prudential’s Financial Wellness Census research project, as well as “The Cut,” which focused on underserved consumers. He writes and speaks extensively on the racial wealth gap, and his writings on the subject have been published in Black Enterprise, The Root, Blavity, and Money.com.

After beginning his career as a Capital Markets Intelligence Associate for Thomson Financial, he served as an Investor Relations Director for several top-tier financial communications agencies, before moving to in-house roles. He has served as a senior executive at KPMG and BlackRock Inc., where he worked on helping them to maximize the value of their acquisitions and fintech ventures.

He holds both a bachelor's and a Master's degree from Cornell University. Yemi was born and raised in Jamaica, and now lives with his wife and two daughters in New Jersey.

How's midlife going? Fill out Farnoosh's survey and help shape the podcast in 2027.

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1060: Black Wealth Matters: "The Budgetnista" Tiffany Aliche Jun 24, 2020

Show notes

Back by popular demand is Tiffany “The Budgetnista” Aliche. She shares her personal challenges with building wealth, all while building a multi-million dollar business. Also: Why she distanced herself from the FinCon events and her latest appearance on Queer Eye for the Straight Guy.

More about Tiffany: She is an award-winning teacher of financial education and is quickly becoming America’s favorite, personal financial educator. The Budgetnista is also an Amazon #1 bestselling author of The One Week Budget and the Live Richer Challenge series.

Through her company, The Budgetnista, Tiffany has created a financial movement that has helped over 1 million women worldwide collectively save more than $150 million, and pay off over $100 million in debt, purchase homes and transform the way they think about their finances.

Tiffany credits her experience as a preschool teacher for 10 years in Newark, NJ for defining her purpose behind The Budgetnista: education.

In 2019, Tiffany transformed her commitment into legislation when she partnered with Assemblywoman Angela V. McKnight to write a bill that was later signed into Law A1414 (The Budgetnista Law). This law made it mandatory for financial education to be integrated into all middle schools in New Jersey.

To learn more check out thebudgetnista.com and malimore.com

How's midlife going? Fill out Farnoosh's survey and help shape the podcast in 2027.

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1059: Black Wealth Matters: NBA Sports Agent Dominique Stapleton Jun 22, 2020

Show notes

According to the National Bureau of Economic Research, 15.7% of NFL players have filed for bankruptcy within twelve years of retiring. A Sports Illustrated article reports that 78% of NFL players and 60% of NBA players face major financial challenges post retirement.

Dominique Stapleton is not only a sports agent, she is a financial educator to her clients who desperately need literacy and guidance. After working with athletes on their money for a few years Dominique wanted to offer her clients more. This year, she became a Certified NBA sports agent and vows to be the bridge between athlete success off and on the field.

How's midlife going? Fill out Farnoosh's survey and help shape the podcast in 2027.

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1058: Black Wealth Matters: Rachel Rodgers, Founder of HelloSeven.co Jun 19, 2020

Show notes

We welcome entrepreneur Rachel Rodgers back to the show to talk about how business owners can go beyond the traditional lip service of "supporting" supporting Black Lives Matters and actually serving as Allies and practicing anti-racism within their companies.

Rachel is a woman of color, a mother of four and a seven-figure business owner — in that order. Rachel started her career working as a lawyer with nonprofits, federal judges and Hillary Clinton.

Rachel is founder of Million Dollar Badass, a high-level Mastermind for women looking to take their businesses from 6 to 7 figures. She firmly believes all women should desire to become millionaires – because of the profound impact a woman’s money can make on the world.

Learn more about Rachel at HelloSeven.co

How's midlife going? Fill out Farnoosh's survey and help shape the podcast in 2027.

Hosted on Acast. See acast.com/privacy for more information.

1057: Black Wealth Matters: His and Her Money Founders Talaat and Tai McNeely Jun 17, 2020

Show notes

A new Northwestern University study based on data from the Federal Reserve estimates that on average for every dollar of accumulated wealth that white families have, many black families have just one cent. Our guests Talaat and Tai McNeely, founders of His and Her Money, are on a mission to help change that quotient.

The McNeely's are Financial Educators and co-authors of Money Talks: The Ultimate Couple's Guide To Communicating About Money. They are also the hosts of the top-rated podcast, "The His and Her Money Show" and creators of Power Couples University. Talaat and Tai McNeely (His and Her Money) have been featured in numerous publications such as Black Enterprise, FoxNews.com, MSN.com, Essence, and Business Insider.

We discuss:

How and why they paid off their mortgage in 25 years.
As parents, the conversations Talaat and Tai are having with their three kids regarding money and race.
And should personal finance get political? What does that even mean?

To learn more visit the following sites:

The McNeeley's Website - www.HisandHerMoney.com

Youtube - https://www.youtube.com/hisandhermoney

Community - www.PowerCouplesUniversity.com

How's midlife going? Fill out Farnoosh's survey and help shape the podcast in 2027.

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1056: Black Wealth Matters: Donovan Ramsey, Journalist and Author Jun 15, 2020

Show notes

Today’s guest is my former editorial assistant and right hand guy, Donovan X Ramsey, who first appeared on the show in 2015. As a friend and accomplished journalist focusing on the topic of black identity, politics and patterns of power in America, I wanted to catch up with Donovan for my #BlackWealthMatters series.

Key takeaways from our interview:

How Donovan's upcoming book, When Crack Was King, chronicles the 1980's and 1990'se pidemic, its misperceptions and the way policing changed during those years.
Donovan's own experiences with racial discrimination in graduate school and beyond.
The truth about what publishing pays. Donovan and Farnoosh disclose their book advances.

More about Donovan: He is called "an indispensable voice on issues of racial identity, politics, and patterns of power in America," by American culture critic Rich Benjamin. Donovan's commentary on racial politics during the Obama era has been featured in The New York Times and his reporting and commentary on the criminal justice system have appeared in outlets including WSJ Magazine, The Atlantic, GQ, Gawker, BuzzFeed, Vice, and Ebony, among others.

Donovan served most recently as the commentary editor at The Marshall Project, a Pulitzer Prize-winning news organization dedicated to the U.S. criminal legal system. Before The Marshall Project, he worked as an editor and writer at a number of outlets including Complex, NewsOne, and NBC's theGrio.com.

Donovan holds a master's degree from the Columbia University Graduate School of Journalism and a bachelor’s degree in psychology from Morehouse College. He lives in Atlanta, Georgia, and is currently completing his first book, a history of the crack cocaine epidemic for One World—an imprint of Random House, a division of Penguin Random House, the world's largest trade book publisher.

You can learn about Donovan on his website www.donovanxramsey.com and follow him on Twitter @iDXR.

How's midlife going? Fill out Farnoosh's survey and help shape the podcast in 2027.

Hosted on Acast. See acast.com/privacy for more information.

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