So Money with Farnoosh Torabi

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BONUS: Is College Worth $200,000? Mar 27, 2015

Show notes

Let's say you or your child gets accepted to Stanford or Harvard, an elite private college that consistently ranks in the tippity top of higher ed rankings and where graduates tend to get the best jobs with the best pay. But here's the catch: It'll cost close to $200,000 to attend. In the grand scheme of life, is it worth it?I posed this question to a recent guest on my podcast, Lynnette Khalfani-Cox, a financial expert who's published a great book called "College Secrets: How to Save Money, Cut College Cost, Graduate Debt Free.” Lynnette's own daughter is currently considering colleges and so this question is hitting very close to home. Catch her full interview in Episode 72.

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74: Paul Sullivan, NYT Columnist on Money Secrets of the Super Wealthy Mar 26, 2015

Show notes

Today’s episode: What it means to live a truly wealthy life. Told by a man who’s job it is to report on the country’s ultra rich, how they think, act, save, spend and invest. Paul Sullivan writes the Wealth Matters column for The New York Times and is the author of the new book The Thin Green Line: The Money Secrets of the Super Wealthy. The thin green line is an interesting phrase…implies that there may not be such a huge barrier between the haves from have nots. We’re going to dive into that. Paul, himself, is admittedly a part of the 1% but in writing this book he discovered his financial weak spots …that it’s not how much you make but how you manage it, how you protect it..that ultimately puts you in control of your money…and not the other way around. A few takeaways from our time with Paul: -- How most people regardless of their income can get on the right side of the ‘Thin Green Line‘ if they really want it to. -- Paul’s financial philosophy of “fierce mental accounting.” -- How to spend smart…lessons from people who have a lot of money to spend.

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73: Kabir Sehgal, Author of Coined: The Rich Life of Money and How Its History Has Shaped Us Mar 25, 2015

Show notes

Today’s guest makes me feel terribly under accomplished. He is a modern day Renaissance man. His name is Kabir Sehgal. I was introduced to Kabir by a mutual friend who thought he’d be a perfect fit for the show because he just wrote a New York Times bestselling book about the history and biology of money. The book is called Coined: The Rich Life of Money and How Its History Has Shaped Us. In it, Kabir explores how and why money has come to play such a central role in everyday life and unveils the neuroscience behind our money behavior. As the New York Times says, "If you've been waiting for an economic version of 'Eat, Pray, Love' this may be it." Kabir traveled the world for a few years to report on this topic and as if that wasn’t impressive enough, I learned this is actually Kabir’s second book. His first – Walk in My Shoes - was a New York Times bestseller, too. Oh, and by the way, the man is also a Grammy award winning musician. Three takeaways from our interview: -- The secret to Kabir's career success. -- What he learned from his very first entrepreneurial venture – in kindergarten. -- What it’s like to work on Wall Street these days. Up until recently Kabir worked in finance and investment banking.

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72: Lynnette Khalfani-Cox and Affording College Mar 24, 2015

Show notes

If you are thinking about going to grad school… or have children heading off to college soon, you’re probably wondering 'How the heck can I afford it? How do I plan for it?’ The cost of higher education in the US has skyrocketed more than 500% over the past 30 years, all while salaries and labor market have stagnated. Today’s guest, Lynnette Khalfani-Cox, who is the CEO of TheMoneyCoach.net and a New York Times bestselling author of “College Secrets: How to Save Money, Cut College Cost, Graduate Debt Free” is here with us today to dispel misconceptions about college and give important advice on how to make school affordable for you or your child and family. Before launching TheMoneyCoach.net in 2003, Lynnette worked for nearly a decade as a Dow Jones Newswire reporter and a Wall Street Journal reporter for CNBC, where she covered business and personal finance news. Three takeaways from our interview: -- 5 financial options you should consider before applying for student loans -- What criteria determine the “best” school for you. (Hint: It’s not about the brand name.) -- #1 financial habit that makes a huge difference in Lynnette’s marriage

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71: David Pottruck, Former CEO of Charles Schwab Talks Setbacks and Success Mar 23, 2015

Show notes

Today’s episode is another great reminder that no matter how painful a life blow or a career setback, you can still recover… and not just survive but flourish and lead a richer, happier life. Today’s guest was let go as the CEO of a major financial services company after having invested in it his whole life. In his own words, “I was embarrassed. I was humiliated and I was devastated.” But as they say “when one door closes, another door opens.” As a result of simply having more time on his hands, he got to experience something he fell in love with, something so refreshing and captivating that he now says he would have loved to do it much earlier in life… His name is David Pottruck. He is the author of the bestseller, Stacking the Deck, How to Lead Breakthrough Change Against Any Odds and the former CEO of Charles Schwab, a company he says he “grew from $5 billion… to a trillion dollars”. Almost a decade later, David is now the Chairman of HighTower Advisors, a $25 billion wealth management firm that he helped launch in 2008. He also serves on the Board of Directors of Intel Corporation and a number of start-ups, and teaches at The Wharton School of Business. Three takeaways from our interview: -- Why it is so hard to lead breakthrough change in corporate America -- How and why David’s financial philosophy changed over the years -- His practical financial habits, all which he’s kept to this day… even though he doesn’t really have to. For more visit SoMoneyPodcast.com

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70: Ask Farnoosh: How Can I Monetize My Website? Mar 22, 2015

Show notes

In today's episode of Ask Farnoosh, I answer your questions about monetizing a website, whole life insurance and the best way to withdraw your pension in retirement when you're married. For more visit www.SoMoneyPodcast.com

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69: Ask Farnoosh: How Much Net Worth Should I Have? Mar 21, 2015

Show notes

Should I lease a car? What should my net worth be? What medical marijuana companies are hot? I have a ton of money, so should I pay of my student loans or invest? Today's Ask Farnoosh questions run the gamut!

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68: Jeff Olson: CEO of Neurium Talks Happiness, Money and Prosperity Mar 20, 2015

Show notes

Three years ago the United Nations sanctioned March 20th as International Day of Happiness – day to drive awareness for the need for happiness in our worlds. Today’s guest is a major supporter of this event. He is the founder of Live Happy magazine, Jeff Olson, and for the second year in a row, Live Happy has joined the U.N. with its own mission to lead a global movement to inspire the world to think, act and live happy with the #HappyActs Challenge. For more, check out HappyActs.org. Jeff Olson is also the Founder and CEO of Nerium International™. He is the autrho of the best-selling book, The Slight Edge. A few takeaways from our time with Jeff: How happiness correlates to prosperity in your financial life. Jeff's "Millionaire Next Door" mindset and how it helps him protect his wealth. The benefits of growing up poor and the financial breakthrough Jeff experienced in college.

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67: Jaime Tardy, Founder of The Eventual Millionaire Mar 19, 2015

Show notes

For most of us, including yours truly, having strict deadlines can be very helpful in achieving our goals… And for today’s guest, Jaime Tardy, a 9-month deadline put her quickly into action to become financially free. She became pregnant and had a limited amount of time to pull her financial life together before welcoming her new baby. And she did it! At the same time she managed to quit her 6-figure full-time job with an expense account with confidence! Today Jaime owns her own business and has transformed her lifestyle of working 24/7 to just 30 hours a week… Jaime also writes about her experience in her new book The Eventual Millionaire. In it she also chronicles what she’s learned from over 120 millionaires interviewed on her podcast with the same title The Eventual Millionaire. They discuss the tricks that worked in building their business (and what they wish they had done differently!). In addition to being an author and a blogger, she is also a successful business coach working with entrepreneurs who want to transform their business and personal lives while building their net worth. Three takeaways from our interview: -- What Jaime thinks about the education system in the US and why she chose an entrepreneurial school for her kids -- How she managed to pull her financial life together in less than a year -- The benefit of creating her own board of advisors… and how we can do the same, too!

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66: Gretchen Rubin and Mastering Financial Habits Mar 18, 2015

Show notes

If you’re someone interested in the psychology of money and learning more about yourself and why you do what you do when it comes to money, you’ll enjoy today’s episode. Today’s guest is author Gretchen Rubin, who started her career in law and was clerking at the Supreme Court when she realized that she really wanted to be a writer. Since then, she’s become one of the most thought-provoking and influential writers on habits and happiness of our time. She is the author of several books, including the blockbuster #1 New York Times bestseller The Happiness Project. It is based on the year in Gretchen’s life which she spent experimenting about how to be happier. She is out with a brand new book – Better Than Before: Mastering the Habits of Our Everyday Lives. Three takeaways from our interview: -- The 4 human tendencies we all should be aware of… (And the tendency quiz you can take on Gretchen’s website that will help you learn about yourself.) -- Why degree of temptation and your personality matter when establishing new habits. -- How to know whether you’re a classic underbuyer or overbuyer.

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

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