So Money with Farnoosh Torabi
1821: Ask Farnoosh: How to Make More Money ASAP, Switching 529 Plans and More
May 2, 2025
Explore the impact of economic shifts on personal finances, from falling customer counts at major chains to evolving job markets. A heartfelt story illustrates the resilience families can cultivate during financial stress. Listeners seek advice on balancing values and salary in cooperative jobs, adjusting 529 college savings plans amid market fluctuations, and overcoming financial overwhelm. Discover practical steps for financial empowerment and the importance of open conversations about money within families.
22:10
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Quick takeaways
- Transitioning to a worker cooperative requires understanding its governance structure and decision-making processes to align with personal values.
- Parents should evaluate their 529 college savings plans by balancing aggressive strategies with conservative adjustments as college dates approach.
Deep dives
Navigating Worker Cooperatives
Exploring the concept of worker cooperatives, Elizabeth considers transitioning to a new job that offers lower pay but intriguing work dynamics. Worker cooperatives are employee-owned businesses governed democratically, which means employees have a strong say in decisions. Key questions to ask before making the move include how decisions are made during tough economic times, how profits are shared or reinvested, and the governance structure in place. Understanding these aspects can help Elizabeth assess whether the cooperative model aligns with her values and long-term career goals.
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