So Money with Farnoosh Torabi

Latest Episodes:

866: Ask Farnoosh: How to juggle career and family when husband is out of town? Mar 29, 2019

Show notes

Guest host Christina Hamati joins Farnoosh to answer listeners' money questions. Christina is an avid listener. She works at a Fortune 100 financial firm as a consultant on various advanced financial planning concepts. She is in the midst of achieving her CFP designation. Questions we tackle:

I've heard it's better to put money in your IRA than pay down your mortgage. What do you think?

Any advice for a 34-year-old who is just now taking her finances seriously? Tips? Books?

When is the best time to liquidate a mutual fund for a big purchase? Is 5 years to soon?

How to juggle career and family when husband is out of town?

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

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865: Sarah Fallaw, The New Millionaire Next Door Mar 27, 2019

Show notes

Today’s guest is more familiar with The Millionaire Next Door than anyone else. She is Sarah Fallow, the daughter of the late Thomas Stanley, the book's author. Sarah is the Founder and President of DataPoints LLC, a company that provides scientifically validated, automated behavioral finance tools to the financial services industry. As the 20th anniversary of The Millionaire Next Door drew nearer, Sarah worked with her father to do research and development for an updated version of the book. With her psychology and data background and his extensive experience researching millionaires over his career, together they created an outline for what would become a book entitled The Next Millionaire Next Door. Today we’re going to talk to Sarah about her and her late father's findings. What’s changed when it comes to the behavior of millionaires and what can we learn from them? Also, what was it like growing up with Thomas Stanley and how does she hope to carry on his legacy? To learn more about Sarah Fallow, please visit www.DataPoints.com and follow her on Twitter @SarahFallaw. You can also purchase The Next Millionaire Next Door wherever books are sold.

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

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864: Stacks House Co-Founders, Kindra Meyer and Patience Ramsey Mar 25, 2019

Show notes

Do you want to come play with the money? We are in conversation with Stacks House co-founders Kindra Meyer and Patience Ramsey. Really excited to announce that tickets are on sale currently for our Los Angeles arrival. You can purchase tickets at stackshouse.com/tickets and I have a special discount for SO MONEY listeners…Use SoMoneyStacksLa for 20% off your ticket. We’ll be opening doors on April 17th and we'll have a limited run in the City of Angels and the plan is to travel the country.

What better way to go behind the scenes of the why and the how and the what of Stacks House than to invite my cofounders Patience and Kindra to So Money. I met these two ladies back in the summer of 2018. They invited me to come and learn about their plans to launch a major company called She Stacks, which is all about supporting women in their endeavors to become a financially independent and close the wealth gap. Stacks House is the first of many offerings from She Stacks.

If any of you ever been to the Museum of Ice Cream or Museum of Pizza, Color Factory, etc. you know that popups are a thing right now, right? People are lining up and can't get enough of them. To leverage that popularity, we're doing our own version of a pop up, but with a purpose: to serve women on their journey to becoming financially free.

Coming up, learn how about my co-founders' storied past growing up with not a lot of money, and how that impacted their relationship with money as adults. Patience and Kindra are marketing mavens, each with 15+ years experience building brands, starting movements, utilizing talent and galvanizing communities. Patience is also a founding Executive at Good Counsel, Mastry Inc., and The Bloomberg Players Technology Summit. Kindra is former owner of McLeod Residence, a members-only lounge and art gallery. They’ve each come a long way from humble beginnings. Kindra was raised in a one room log cabin. Patience, the eldest of six children, talks about how her parents declared bankruptcy when she was young. How did all that influence their money mindset and their desire to support other women along the way?

Again, check out stackshouse.com/tickets to reserve your spot. Use the code: SoMoneyStacksLA for 20% off your ticket!

And follow us on Instagram @StacksHouse

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

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863: Ask Farnoosh: How Can I Stop Feeling Guilty When I Spend? Mar 22, 2019

Show notes

This week's episode tackles questions related to earning more money and managing guilt around spending. Check out www.somoneypodcast.com for the transcript. You can always send me your money questions on Instagram @farnooshtorabi.

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.

862: Chanel Reynolds, Author of What Matters Most Mar 20, 2019

Show notes

If your partner died today, would you have your shit together? Today’s guest is Chanel Reynolds. She’s the author of the brand new book What Matters Most: The Get Your Shit Together Guide to Wills, Money, Insurance and Life’s “What-Ifs.” After Chanel’s husband passed away unexpectedly, she realized she had no idea how to access any of their financial documents. She didn’t know how to pay her mortgage. She didn’t even have the password to his phone. And, as she was in the middle of the worst moment of her life, she couldn’t help but think that there must be other people out there who were just as unprepared as she was.

She started writing about her experiences on her website aptly called Get Your Shit Together. What followed was tons of website visitors, mentions in the medias, and hundreds of stories from people who, much like her, were unprepared for life’s most brutal moments.

Although she never expected to be in this position, Chanel has used a tragedy and has used it as a tool to help others be more prepared than she was.

Learn more about Chanel at www.GetYourShitTogether.com and www.GYST.com.

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

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861: Chris Taylor, Senior Money Correspondent, Reuters Money Mar 18, 2019

Show notes

We are in conversation today with one of the top financial journalists in the country. We have Chris Taylor on the show. He’s an award-winning journalist, senior money correspondent at Reuters Money and contributor to Fortune and cnbc.com. We’re talking about his money perspectives. This is his first podcast interview. I didn’t know this until we wrapped, pretty flattered, and the lessons he’s learned from interviewing some of the world’s biggest money minds. We talk about why Chris considers Jack Bogle, founder of Vanguard who recently passed away, to be one of the greatest financial role models of all time, as well as Chris’ dedication to writing handwritten thank you cards daily and the current state of financial journalism. Where’s the media world headed?

Follow Chris on Twitter @christaylor_nyc

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

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860: Ask Farnoosh: How to financially support parents in their retirement? Mar 15, 2019

Show notes

This week's question touch on ways to financially supporting parents in their retirement, how to set up a Roth IRA, deciding whether to take a lower paying job and factors that impact our credit scores. Special co-host is Morgen Rochard, founder of Origin Wealth Advisers, an independent, fee-only practice dedicated to helping young families and professionals align their finances with their life goals. She is also the founder of Money Owners, a financial and executive coaching practice, helping clients create their mindsets around money, career and building businesses. In both her businesses, Morgen encourages clients to live how they want to live, be who they want to be, and achieve what they want to achieve with their money. Morgen is also a CERTIFIED FINANCIAL PLANNER™ and a Chartered Financial Analyst.

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

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859: Jonathan Walker, Executive Director of Elevate's Center for the New Middle Class Mar 13, 2019

Show notes

One of the most financially fragile demographics in this country is women who have none prime credit scores. They are a part of the new middle class and these are women who experience challenges unlike many other parts of the population because they are often mothers, caretakers to elderly relatives, and the people in charge of their households. Their financial wellness matters to many people in their families and in their communities.

We’re tackling this important topic today and our guest is spearheading research to better understand and help these women and all members of the new middle class. Jonathan Walker is the Executive Director of Elevate's Center for the New Middle Class. There he conducts research to better understand the behaviors, the attitudes and challenges of America’s growing “new middle class”. We discuss what is the new middle class, what are the specific challenges that they have, and how is the new middle class forming and shaping our country’s economics.

Follow Elevate’s Center for the New Middle Class on Twitter @NewMidClass and learn more here.

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.

858: Kara Perez, Founder of Bravely Mar 11, 2019

Show notes

Our guest today discovered her love of money, courtesy of her quarter-life crisis. Kara Perez is the founder of Bravely, which she started in 2017. At that time, she was in the midst of what she calls a quarter-life crisis. She was broke, saddled with student loan debt, she had no career direction. She realized that what was holding her back was her lack of financial knowledge. She buckled down and paid over $25,000 worth of debt on a $30,000 salary.

Today, her online site Bravely shares hopeful financial steps. Kara also speaks across the country about personal finance. Kara and I discuss some of the steps that women and men and society need to take in order to achieve things like gender wage equality, financial literacy for all and how she herself managed to work her way to financial freedom.

Learn more about Kara Perez by visiting BravelyGo. Listen to her podcast and follow her on Instagram @ByKaraP.

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

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857: Ask Farnoosh: All About That Roth IRA Mar 08, 2019

Show notes

On International Women's Day, Farnoosh invites financial expert Megan Gorman to co-host. Topping the list of questions: how to save for retirement and the benefits of the almighty Roth IRA.

More about Megan: She spent her entire career working with high net worth individuals and families on their entire financial picture. An attorney by training, Megan’s passion about personal finance is all about the complex problem solving required to work with sophisticated clients especially in the areas of tax and estate planning.

To learn more about Megan, check out www.thewealthintersection.com and be sure to follow her on Twitter: @wealthintersect and Instagram @thewealthintersection.com.

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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