Reasonably Happy with Paul Ollinger

Renowned interviewer and writer Cal Fussman joins Paul to discuss recent terrorist activities by Hamas in Israel. They delve into the ongoing conflict in the Middle East and the impact on innocent lives. They also explore the connection between technological advancements and political divisions, reflect on missing posters and reconnecting with family, discuss the addiction crisis and its connection to Islam, and talk about the challenges of assimilation and understanding perspectives.

Victor Haghani, author of The Missing Billionaires, shares insights on why family fortunes get destroyed. He discusses his experience with the collapse and recovery of Long-Term Capital Management. Victor also talks about his journey from Tehran to London, his interest in mathematics, and navigating financial crises like the dot-com bubble.

Farnoosh Torabi is an Iranian American journalist and one of the country’s most trusted personal finance experts. In her new book, A Healthy State of Panic she examines the role fear can have in leading us toward the relationships, careers, and financial situations we are meant to have. For over two decades, Farnoosh has a strived to help people become financially empowered and lead richer lives. She’s written multiple books, hosted a CNBC program, and worked alongside Oprah’s editorial team. She hosts the Webby-honored podcast So Money, which has been downloaded over 30 million times. In today’s conversation, we discuss how her family came to the U.S. from Iran and what it was like grow up in America after the Iranian Revolution and Hostage Crisis. Always being the new girl, Farnoosh learned how to navigate new schools, her mom's embarrassing clothing choices, her teenage unibrow, achievement anxiety, and the fact that she wasn’t allowed to watch Punky Brewster. We discuss the strength and courage of her young mother, the resilience of her old dad, and what she learned from her biggest professional mistakes. Farnoosh holds a degree in finance from Penn State and a master’s in journalism from Columbia University. Buy the book here. Learn more about Farnoosh on her website. You - yes you- stand still, laddy! And do this: ⭐ Rate and Review Crazy Money here. (Seriously, do it!)⭐  ✍️ Get Paul’s Substack writing to your Inbox here. (Seriously, do this also!) ✍️

After 15 years of financial reporting, Ron Lieber reports that “No consumer decision inspires more confusion and emotion than the question of what to pay for college,” which is understandable since four years at many state schools now costs over $100k in tuition and four years of private school can run over $300k!  The "Your Money" columnist for the New York Times, Ron is the author ofThe Price You Pay for College, in which he lays out critical, in-depth information about one of the most important financial decisions your family will ever make. He explains that not only is college ludicrously expensive, but the admissions process is purposefully opaque, so it’s hard to know if you/your kid will get in and whether or not you/your kid will be able to afford to go. By throwing himself head-first into this stormy, complicated sea, Ron helps the reader find the best college or university for them, understand financial aid, and not destroy their family's savings in the process. His new online course about merit aid will help parents like you find grants and scholarships for which your child is eligible. Ron Lieber is a proud alumnus of Amherst College. Among his previous books is the bestseller, The Opposite of Spoiled: Raising Kids Who Are Grounded, Generous, and Smart About Money, which he discussed with me on episode #4 of Crazy Money. It’s a great book about parenting and teaching your kids values through the lens of money. This episode originally aired in January 2021. ⭐ Rate and Review Crazy Money here. (Seriously, do it!)⭐  ✍️ Get Paul’s writing to your Inbox here. (Seriously, do this also!) ✍️

Kids who grow up in stable, two-parent homes are less likely to live in poverty, have behavioral problems, and get in trouble at school. They’re more likely to go to college, attain stable employment, achieve higher earnings, and to get married themselves. So reports Melissa Kearney in her new book The Two-Parent Privilege: How Americans Stopped Getting Married and Started Falling Behind. A professor of Economics at University of Maryland, Melissa argues that single-parenthood makes economic autonomy more difficult to attain for parent and child alike. So if we want to address inequality, we must acknowledge that family structure contributes to it, even if the conclusions run counter to the prevailing societal notion that any family structure is as good as another. Put simply, if you want a more equal society, it’s time to recognize that equality starts at home. In addition to her faculty position, Melissa is also Director of the Aspen Economic Strategy Group and a non-resident Senior Fellow at Brookings Institution. She holds a BA in Economics from Princeton University and a PhD in Economics from the Massachusetts Institute of Technology. Find the book here. Learn more about Melissa on her website here.  ⭐ Rate and Review Crazy Money here. (Seriously, do it!)⭐  ✍️ Get Paul’s writing to your Inbox here. (Seriously, do this also!) ✍️

Garrett Gunderson is a NYT best selling author and the funniest financial speaker you may or may not have heard of. The son of a Utah coal-miners, Garrett wants to teach others how to become financially independent and have a laugh along the way. He has written several money books, including Disrupting Sacred Cows, Killing Sacred Cows, and What Would Billionaires Do? among others. His new book Money Unmasked comes out next month.  We talk hair, comedy, good parenting, growing up half-Mormon, half-Catholic, frugal v. cheap, “financial dick pics," pre-2008 Arrogance, driving a Bentley, the power of laughter, the dirty word his grandmother loved, and what he learned from the death of his business partners. As you’ll hear, Garrett andI have a lot in common, so this is a bit of a sprawling and sometimes “inside baseball” conversation about money and comedy. Speaking of which, his comedy special The American Ream will be out soon.  Learn more about Garrett on his website and Pre-order the new book on Amazon here. ⭐ Rate and Review Crazy Money here. (Seriously, do it!)⭐  ✍️ Get Paul’s writing to your Inbox here. (Seriously, do this also!) ✍️

In an automated world without constraints or time to think, our spending has been super-charged. Markets, apps, and e-commerce are all designed to separate us from our money as quickly and consistently as possible. So argues Julio Vincent Gambuto in his new book, Please Unsubscribe, Thanks!: How to Take Back Our Time, Attention, and Purpose in a World Designed to Bury Us in Bullshit. Paul and Julio discuss the book and their differences of opinion on how we have arrived to this subscription economy. Yes, Paul agrees, companies are intentionally removing friction from the transaction process to reduce the amount of thinking that goes into purchasing and subscribing to services. But he does not agree that this turns all of us into stooges who lack agency. Yes, Paul also agrees with Julio’s eventual conclusion that we all need to “redefine our relationship with money and how/where/when/why we spend and our needs, wants, and relationship with desire. Maybe it’s okay to not get everything we want right now.” Learn more about Julio on his website.  Thanks to our mutual friend Ethan Herschenfeld for connecting metro Julio. ⭐ Rate and Review Crazy Money here. (Seriously, do it!)⭐  ✍️ Get Paul’s writing to your Inbox here. (Seriously, do this also!) ✍️

“Parents Hire $4,000 Sorority Consultants to Help Daughters Dress and Impress During Rush” read the Wall Street Journal headline that nearly made my neck snap. As a middle-aged man whose kids aren’t quite college age, I was unaware of the #RushTok phenomenon on TikTok or the Bama Rush documentary that sparked a massive fascination with the sorority rush process at the University of Alabama. Trisha Addicks is the very rush consultant referenced in that WSJ article and featured in Bama Rush. She also happens to be my neighbor, so I invited her to come over and talk about how the whole process works. I had so many questions: Who are these families shelling out $4k for rush help? Why do they do it? How does one become a rush consultant? What’s the reason so many young women want to join sororities anyway? And how do you teach them the secret language including terms like PNMs, OOTD, the 5 B’s, and The Machine? The conversation really put the whole thing into perspective. In a world of private trainers, coaches, and tutors, a sorority consultant is just one more third party a family can hire to help their kid navigate life. And after you hear all she does for her clients, $4k might sound like a bargain. Trisha’s work and her company, It's All Greek to Me have been featured in the New York Times, the NY Post, CNN.com, NewsNation, UK Daily Mail, and many more. Follow her on Instagram here.  ⭐ Rate and Review Crazy Money here. (Seriously, do it!)⭐  ✍️ Get Paul’s writing to your Inbox here. (Seriously, do this also!) ✍️ #BamaRush #rushtok #sorority #sororityconsultant 

The new Netflix series Painkiller is based on a book my guest, Barry Meier wrote over 20 years ago. In Pain Killer: An Empire of Deceit and the Origin of America's Opioid Epidemic, Meier explores how Purdue Pharma’s drug OxyContin catalyzed a plague of addiction and death that has destroyed families and whole communities across the country. Between 1999 and 2020, 564,000 Americans died from an opioid overdose. In 2020, the most recent year for which statistics are available, opioids killed 68,000. That's 188 per day and each one of these deaths represents a son or daughter, a brother or sister or a mother or father, who is not coming back. Yes, people died of opioid overdoses before the 1996 launch of OxyContin, but it’s clear that Oxy and Purdue Pharma’s aggressive and deceptive marketing practices threw gasoline on a spark that has turned into a raging wildfire.  In our conversation today, Barry and I discuss the Sackler family's legacy of ethically dubious marketing of pharmaceuticals and how they made tens of billions of dollars selling OxyContin using the same techniques, like pushing free samples, while knowing that the drug was quite addictive. We discuss how and why the FDA approved claims that OxyContin was less prone to addiction in the complete absence of evidence proving that it actually was. And lastly, we discuss the extent to which OxyContin kicked off this opioid epidemic for which there is no clear way out. The Netflix series stars Matthew Broderick, Taylor Kitsch, and Uzo Aduba and is very well done. ✍️Get Paul’s Substack newsletter here.✍️ 🔥Follow Paul on Instagram. 🔥 Visit Barry’s website Buy the book here. 

Paul reads three of his latest pieces from his Substack, Money and the Meaning of Life, including: Dare to Suck: What you can learn about improvement from acting coach Lesly Kahn and author Mark Manson The Secret to Being Very, Very Rich Nobody Needs a House with 8 Toilets 🔥Paul publishes these essays (about) every other Tuesday. You should subscribe here. 🔥 🚀 Follow Paul on Instagram here. 🚀