So Money with Farnoosh Torabi

So Money with Farnoosh Torabi

Spain

Farnoosh Torabi is an award winning financial expert, best selling author and TV personality. So Money is her daily 30 minute podcast that brings financial wisdom and inspiration from the world's leading business minds, authors & influencers. What was their financial journey and how do they master their money today? Hear from Tony Robbins, David Bach, Robert Kiyosaki, Jean Chatzky, James Altucher, and many more. Learn about their financial wins, failures and philosophies. Plus, their secret guilty pleasures and what they wish they'd known about money growing up. On weekends, Farnoosh answers your biggest financial questions. Head to SoMoneyPodcast.com to submit your question today.

Episodes

551: Ask Farnoosh, How much should I spend on my mortgage payment & interest rate?  

My dad thinks renting is a waste of money but am I too young to become a homeowner? What exactly is home equity? If my wife and I want to buy a home in the next 5 years is saving the money in a Betterment account a good strategy? Just received a work bonus... where should I allocate the funds? Answering these questions and more on this week's Ask Farnoosh.

For more information visit www.somoneypodcast.com.

550: Ilana Levine, Host of Little Known Facts Podcast  

Maybe you knew this about me? I was a total theatre junkie in high school and college. I acted, I directed. I minored in theatre. I think that if I was more risk-taking I would have pursued acting as a career. But then I just saw LaLa Land...and saw how excruciating the audition process is in Hollywood. I'm not sure I would have lasted long.

Ilana Levine is an actress who has appeared in multiple films, plays and TV shows...and the host of a new podcast called Little Known Facts where she interviews fellow performers about their lives, careers and of course all the juicy things you can't just find online about them. Like, did you know that Laura Linney was raised by a single mom in New York and spent her days after school as a latch-key kid? And Matthew Broderick was supposed to star in a breakout role with Sally Field, but then the director of the film passed away and the project never happened.

For more information visit www.somoneypodcast.com.

549: Leanne Jacobs, Author of "Beautiful Money"  

How would you describe your money, or your relationship, with money in one word? Some of us might use the word “complicated." Others might say their relationship is “automatic”, which is definitely true in my life. Leanne Jacobs wants us all to have a beautiful relationship with money. So, what does that mean?

Leanne Jacobs is a dear friend and a friend of the show. She was actually on episode 16 (one of our first shows in 2015 when we launched). She is a holistic wealth expert. Leanne’s out with a new book now entitled Beautiful Money: The Four Week Total Wealth Makeover. The promise of the book is this: “Connect and align your inner self with clear and specific external actions and you can achieve true wealth.”

Her book is based on her popular Beautiful Money Course, and she also has the Beautiful Money Podcast, where I was a guest on the show. I have to admit, when I first heard the concept of“beautiful money”, I thought it was a little abstract. And I thought it was going to get a little too woowoo for my taste because, you know, I’m pretty rational and pragmatic. I like action driven steps and so I was happy to hear that it really delivers just that.

Leanne doesn’t tell you to light candles and do sciences and repeat money mantras in your head. Instead, she really talks about how we can be accountable to ourselves, the shifts and changes that we need to make to really align our values with our money and achieve thus, beautiful money. I urge you, if you want to learn more about Leanne, go back to episode 16 where she talked about her own volatile journey with money and work and the vicious cycle that a lot of us get in to chasing the money, right?

For more information visit www.somoneypodcast.com.

548: Ask Farnoosh, How do my husband and I begin to tackle credit card and student loan debt in our marriage?  

Should I try and buy a home? How should my husband and I tackle our student loan and credit card debt? My company is making us sign new contracts... is now a good time to bring up a raise? Answering these questions and more on this week's Ask Farnoosh.

For more information visit www.somoneypodcast.com.

547: Ann Shoket, Author of "The Big Life"  

We're going to learn how to make our mess our mojo today! I'm excited to bring back a lovely guest who's released a new book called The Big Life: Embrace the Mess, Work Your Side Hustle, Find a Monumental Relationship, and Become the Badass Babe You Were Meant to Be. Ann Shoket, the former Editor-in-Chief of Seventeen Magazine, is here. If you missed her on the podcast the first time go back and take a listen (EP 328).

Millennial women want to have it all - they want the career that comes with the money, they want friendships and they want a relationship where they are loved and respected. Is it really possible? Ann says YES. In the book, she provides actionable guidance from high-profile Millennial women who are on the quest to have it all. She wants to help the younger generation create their own version of the Big Life WITHOUT compromise. 

For more information visit www.somoneypodcast.com.

546: Vera Gibbons, Financial Journalist  

There’s a lot happening in the political world, to put it lightly. It's hard to keep up. I have a hard time just consuming the morning news. It’s especially hard to know what’s happening outside of the political realm. What are some of the other things going on in society from health, to sports, to business?

Our guest today is financial journalist, Vera Gibbons, who is trying to solve that problem with her new daily newsletter, nonpoliticalnews.com. It highlight’s the day’s news and shares stats and facts that are being overlooked by the mainstream media, given the heavy political news coverage today. It prides itself on not having bias or opinions - just delivering the news.

A little bit more about Vera.... she and I have known each other for over a decade. She was the former financial contributor with CBS’s The Early Show and has also worked as a correspondent for CNBC’s High Net Worth. She still appears regularly on national news networks.

With Vera, we talk about how with a full-time job, she started this side gig, nonpoliticalnews.com, and how it’s really taken off. She takes us behind the scenes. Plus, her success with New York real estate starting with a little tiny studio that she bought from none other than Walter Cronkite. And what she thinks of the future of social media.

For more information visit www.somoneypodcast.com.

545: Ask Farnoosh, Should I put money I was gifted in a money market account?  

Should I put money that was gifted to me in a money market account? What type of supplemental retirement account is best? What will happen if you request forbearance on your student loans? Answering these questions and more on this week's Ask Farnoosh episode.

For more information visit www.somoneypodcast.com.

544: Jeff Tennery, Founder & CEO of Moonlighting App  

Is it the year you year to earn MORE? It's no secret I'm a huge fan of making as much money as you can and want…and leverage a side-hustle to boost income. Today's guest, Jeff Tennery, is the founder of Moonlighting. It’s the first nationwide mobile marketplace where anyone can hire or be hired in any community in the country. Jeff is a recognized expert on the gig economy and has been featured on news outlets nationwide on the topic including CNBC, The Wall Street Journal, Huffington Post and many others. Before founding the company, Jeff spent over 25 years in senior executive leadership roles at Verizon, AT&T Wireless, nTelos and Millennial Media. He’s also got a great, big family – 5 kids!

For more information visit www.somoneypodcast.com.

543: Beth Kobliner, Author of "Make Your Kid A Money Genius"  

Many of you write in to Ask Farnoosh and ask questions about how to set your children up for their financial futures or how to best teach them about money. I'm right there with you. Evan is almost 3 and I have him hand the cashier the cash when we check out at the grocery store. Maybe he's understanding that in order to go home with stuff we need to give something in exchange and that money is currency. Time will tell.

Beth Kobliner is a leading personal finance authority whose first book, Get a Financial Life: Personal Finance in Your Twenties and Thirties, became a New York Times bestseller. For years and STILL it was THE money book you gave to all your friends, kids, grandkids graduating from college. Years later, Bethis out with a new book Make Your Kid a Money Genius (Even If You're Not).  In it, she shares practical advice for teaching toddlers to young adults how to be smart with money.

Some more about Beth... . In 2010, she was elected by Obama to be a member of the President's Advisory Council on Financial Capability, where she created MoneyAsYouGrow.org, a resource to help kids develop some money skills.

Beth has some fresh and relevant advice to share on the show about how to raise money conscious children...and why bribing your kids to do well in school or do their chores with money is a wasted effort.

For more information visit www.somoneypodcast.com.

542: Ask Farnoosh, How can I lower the interest rate on my mortgage?  

How can you lower your interest rate on your mortgage? What's my favorite app for teaching college kids how to be responsible with their money? Should you take a career risk and join a company as their first employee? Answering these questions and more on this week's Ask Farnoosh.

For more information visit www.somoneypodcast.com.

541: Amanda Steinberg, Author of "Worth It"  

How much is your self-worth tied to your net worth? Do you even know what your net worth it? Our guest today is on a mission to help people, especially women, increase BOTH their self and net worths. My friend Amanda Steinberg, genius founder of the personal finance website DailyWorth and the investment platform WorthFM has a new book called WORTH IT: Your Life, Your Money, Your Terms. What are the some of the silly stories we tell ourselves and society tells women around money? How was Amanda's unruly upbringing a big inspiration for the book's message? And also, what happened when Amanda got seated next to Oprah Winfrey at an event last year?
By the way, Amanda was on So Money Episode 40. Tune into that to learn about her financial upbringing, money failures, financial wins and so much more.
For more information visit www.somoneypodcast.com.

540: Emelyn Northway & Dorie Smith, Of Mercer Co-Founders  

As the saying goes: "Dress for the job you want, not the one you have.”

But, ok. What if you can’t exactly wear Prada to work each day? And the affordable options just don’t fit right or are made of lousy materials?

That’s where today's guests enter. Dorie Smith and Emelyn Northway are the co-founders of Of Mercer, career wear for the modern professional woman.

They met one fateful day while both attending business school at the University of Pennsylvania. They spotted each other across a crowded room because – guess what? They were wearing identical outfits.

They initially launched the brand back in 2013 as an ecommerce site. The company has received praise from top media outlets including The New York Times, Forbes and Inc. Magazine. Last year they finally opened their first brick and mortar store in New York City.

So how do two business students – with no experience in fashion – get the know-how and raise enough money to start a successful fashion line? And how to know when pairing up with a business partner makes sense?

For more information visit www.somoneypodcast.com.

539: Ask Farnoosh, Help! My boyfriend wants me to move to Australia...will this hurt my career?  

Should I move from NYC to Australia and will I be able to find a job there? Should I roll over my 401k from my old employer into my new 401k or a Roth IRA? I answer this and more on this week's Ask Farnoosh.

For more information visit www.somoneypodcast.com.

538: Emily Williams, Success Coach + Entrepreneur  

Raise your hand if you went through a quarter life crisis? I sure did. It was more like a quarter life hyperventilation/nervous breakdown. I was in a movie theatre with my brother watching the movie BIG FISH, that Tim Burton movie with Ewan Mcgregor and Albert Finney (aka Daddy Warbucks!) TEARS streaming down my face during this film. It wasn’t because it was a particularly sad movie. I just couldn’t get my mind off of work and the stress and the lack of sleep and how my boss was a total monster and on and on and on. I was also $30,000 in debt. I could have really used today’s guest for help back then. Success coach and entrepreneur Emily Williams works with female entrepreneurs all over the world and helps them overcome the financial, emotional and all other obstacles standing in front of their way.  At one point Emily, herself, had $30K in credit card debt and $90K in student loan debt. She had a meltdown in her 20’s and we’ll talk about how she managed to turn things around. When she finally got the idea to launch her own coaching business she went from making just $442, hitting six-figures by month six and growing it to seven figures in under 18 months. 

For more information visit www.somoneypodcast.com.

537: Ted Gonder, Co-Founding CEO of Moneythink  

I'm a big believer in never underestimating a child's ability to learn about money at an early age.  Researchers at Cambridge University discovered that kids can learn and take on good money habits by the age of 7. Meantime, a new study by Acorns, the micro-investing app, found that nearly two out of every five millennials say they feel anxious when thinking about daily expenses, especially debt. And more than half surveyed felt their formal schooling left them ill-prepared for success. Today's guest is working to give young adults a better chance at managing their money well. Ted Gonder is the co-founding CEO of Moneythink, a national technology non-profit that helps young adults - particularly first-generation college students - build financial health through mentorship programs and mobile apps.

It first launched in 2009 and since then has trained over 1,500 college leaders to serve as financial mentors and role models to over 12,000 teens across 17 states. In 2015, Ted was recognized for his work by being named to Forbes' 30 Under 30 list as the youngest in the finance category. He also served as the youngest appointee on the U.S. President's Council for Financial Capability for Young Americans under Obama.

For more information visit www.somoneypodcast.com.




536: Ask Farnoosh, Will a credit card debt consolidation loan affect my credit?  

Will a credit consolidation loan affect your credit score? Should you try investing in index funds if you're already investing in mutual funds?  Or should you build up an emergency fund or pay down student loans? I answer these questions and more on this week's Ask Farnoosh.

For more information visit www.somoneypodcast.com

535: Lisen Stromberg, Author of "Work Pause Thrive"  

I'm the worst self-employer. I'm only giving myself like 4 weeks of maternity leave. And the only way I'm affording this is working my butt off in the months before and the months after. But honestly, I am also extremely lucky. I get to decide what works for me, as an entrepreneur. I can afford to hire the support I need to help my family and to help my business. I'm very fortunate, too, in that I have a husband who values his family and prioritizes it over his work. His company provides four weeks of paid maternity leave, too, for dads. Not bad.

The issue of opting out and "family leave" is a topic I am deeply interested in and when I heard that our next guest had a book coming out on this issue, I jumped at the chance to invite her on the show.  LisenStromberg is here and she's the author of the new book Work Pause Thrive: How to Pause for Parenthood Without Killing Your Career. Lisen took time off after having her second child but then pivoted to another career shortly thereafter. In her research, she interviewed 186 women and surveyed 1,500 women to detail how other successful mothers leveraged their time off from work to achieve their personal and professional goals.

Opting out comes at a cost, of course. And Lisen breaks down the financial trade-offs families need to consider when making the decision to leave a job temporarily. we also discuss the good pressure Millennials are placing on workplace norms to give workers more flexibility and family support. And the $1.6 million she walked away from to opt out of the workforce.

More about Lisen: She is also the CEO and Founder of PrismWork where she and her team work with companies, leaders and advocates to ensure women and Millennials thrive in the workplace. She is also the COO of the 3% Movement, which is committed to changing the ratio of women in leadership in the advertising industry. Lisen was once a marketing and advertising executive herself.

For more information visit www.somoneypodcast.com.

534: Erica Keswin, The Spaghetti Project Founder  

How involved are you within your company? Do you like the culture there? Do you connect with your coworkers or do you feel like you're just going in every day, sitting down at your desk and getting straight to work? I ask because our guest today is Erica Keswin and she's all about understanding the dynamics and relationships of people and technology in the workplace.

This past fall she founded The Spaghetti Project in her living room with a group of fifty people. She got the idea to start the company after reading a 2015 Cornell Study that found that eating meals together improved firemen's performance. Intrigued by this idea she wondered how it was possible to get people to connect more with friends and colleagues in the workplace. So she started her research company to identify how smart companies are making this connection.

But I think what really makes this interview worth listening to is the story of Erica's past... as a child, money was tight. Her mom, especially had a hard time, getting stopped at a store for shoplifting. It was a turning point for her. Listen to how it's impacted her financial life today.

For more information visit www.somoneypodcast.com.

533: Ask Farnoosh, "My employer retirement accounts have high expense ratios. What are my other options?"  

In this week's episode of Ask Farnoosh I answer your biggest questions about what your other retirement account options are if your employer's have high fees, where to park the money you're saving for a downpayment in the meantime and more.

For more information visit www.somoneypodcast.com.

532: Sallie Krawcheck, Author of "Own It"  

I'm so excited to bring back our guest today. She's talking about a new era of feminism. That's been a big topic of conversation since the Women's March a few weeks ago. And we have to keep the momentum going. Sallie Krawcheck is back and she's out with a new book, Own It: The Power of Women At Work. It's her first book and in it she discusses the ways in which women can effect change, especially in business. She brings advice stemming from her life as an entrepreneur, as well as the former CEO of Smith Barney and Merrill Lynch Wealth Management, and the CFO of Citigroup.
Sallie's been on So Money before... go back and listen to EP 349 if you missed it. It was right before Ellevest, her investment platform had launched, so we'll talk a bit more about how the company's doing, as well as the biggest financial mistake women are making. 
For more information visit www.somoneypodcast.com.

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