So Money with Farnoosh Torabi

Latest Episodes:

691: Jennifer Hemphill, Author of "Her Money Matters" Feb 14, 2018

Show notes

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.

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

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690: Elaine Pofeldt, Author of "The Million-Dollar, One-Person Business" Feb 12, 2018

Show notes

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 of four kids. I want to know... how does she manage her time? She’s got a surprising answer as well for the one expense that makes her life easier and better.

If you'd like to learn more about Elaine visit her website elainepofeldt.com or follow her on Twitter @ElainePofeldt.

To learn more visit www.somoneypodcast.com.

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

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689: Ask Farnoosh, How do I get a book published? Feb 09, 2018

Show notes

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.

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.

688: Mrs. Frugalwoods, Author of "Meet The Frugalwoods" Feb 07, 2018

Show notes

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 their frugal ways as parents, the financial benefits of living in the woods and where she sees herself in her 50’s and 60’s. What has she got planned for the next 3 decades and will her savings last?

For more about Liz Thames aka Mrs. Frugalwoods, visit www.frugalwoods.com. She is on Twitter @Frugalwoods.

To learn more visit www.somoneypodcast.com.

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

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687: Tanja Hester, Early Retiree + Founder of Our Next Life Blog Feb 05, 2018

Show notes

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 the best blog.

We’ll talk about her journey, her blog, and how someone who is NOT naturally a saver or naturally frugal she says to retire before 38 and not have to work another day in your life.

You can visit Tanja at ournextlife.com or follow along on Twitter @our_nextlife.

To learn more visit www.somoneypodcast.com.

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

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686: Ask Farnoosh, What are your thoughts about investing in cryptocurrency? Feb 02, 2018

Show notes

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.

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

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685: Drs. Renée and Nii Darko, Paid off 6 Figures of Debt in 3 Years Jan 31, 2018

Show notes

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 that they paid for in cash.) You’ll also hear about how paying off their debt has given these two physicians financial independence, enabling them to pursue their passions and business pursuits, like Dr. Nii’s website and a podcast called Docs Outside the Box.

To visit the couple’s blog, head to www.keepingupwiththedarkos.wordpress.com.

Renée runs Pre-med Strategies, a pre-med consultation business to help students overcome the challenges of getting into medical school. You can visit the website here: www.premedstrategies.com.

To learn more about Dr. Nii Darko, please visit his website, Docs Outside the Box, at www.docsOTB.com or find him on twitter @DocsOTB.

Equal Access Health is their locum tenens business, which you can learn more about here: www.equalaccesshealth.net.

To learn more visit www.somoneypodcast.com.

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

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684: Mary Wheeler, Founder of Abundant Wealth Solutions Jan 29, 2018

Show notes

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.

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.

683: Ask Farnoosh, What advice do you have for couples moving in together? Jan 26, 2018

Show notes

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.

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.

682: Leisa Peterson, Life Coach Jan 24, 2018

Show notes

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.

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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