So Money with Farnoosh Torabi

How much are you paying in 401(k) fees?A lot of us listening to this show, we have 401(k), or 403(b)’s and the like. These are retirement plans typically offered through our employers. Have you really ever taken the time to figure out how much you’re being charged in fees to invest to these portfolios?Today’s guest is Josh Jenkins-Robbins. His mission in his career, and in his life really, is to pull back the veil on all the excessive fees he claims these 401(k) plans charge. He is the Chief Strategy Officer at America’s Best 401(k). There, they try to save investors up to 40% in fees.On the show, we talk about why the 401(k) market needs disrupting and how we can all reduce our fees, and maybe even play some catch up in our retirement accounts if we feel behind. It’s worth mentioning that Josh is also Tony Robbins’ adopted son. As we know, Tony is the number one life and business strategist in the country. He was also my very first guest on So Money. I had to ask Josh what it was like growing up with Tony as head of the household and how their relationship influenced his money mindset.To learn more visit www.somoneypodcast.com. Hosted on Acast. See acast.com/privacy for more information.

Do you feel like you’re quarter-assing your way through life and work?Our guest today is Abby Lou Walker, a former corporate executive turned entrepreneur. Her pivot came as she discovered she was unfulfilled at work and taking her stress and disappointment home to her family where she was the mom of two young children...and as she described, quarter-assing her way through work and life. Never feeling like she was really successful in either realm.So, Abby turned to a creative outlet for some release - blogging about shoes for just 1 hour per week. While blogging, she made a chance discovery about an untapped market and the rest is history.Today Abby Walker is the CEO of Vivian Lou, a 7-figure company that creates comfortable insoles for high heeled shoes. She is also the author of the new book Strap on a Pair: A Middle-Aged, Middle-Management, Middle-Class Mom's Quest for Something More.Abby shares how she overcame some of her personal limiting beliefs around earning money, why she equated being rich to being an absent parent and the financial benefits of a practice called EFT.To learn more about Abby visit www.vivianlou.com or follow her on Twitter @iheartvivianlou.To learn more visit www.somoneypodcast.com. Hosted on Acast. See acast.com/privacy for more information.

Is my debt to income ratio too high to be considered for a mortgage?What ways are good ways to payoff my mortgage faster?My new job offers a 3% match for our 401K. What are my best options for my current 401k ($150K+)?  Do I rollover into the new plan? An IRA?Answering these questions of yours and more on this week's Ask Farnoosh with co-host and former So Money guest Erin Lowry of Broke Millennial.To learn more or share your own question for an upcoming Ask Farnoosh visit www.somoneypodcast.com. Hosted on Acast. See acast.com/privacy for more information.

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. Hosted on Acast. See acast.com/privacy for more information.

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. Hosted on Acast. See acast.com/privacy for more information.

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. Hosted on Acast. See acast.com/privacy for more information.

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. Hosted on Acast. See acast.com/privacy for more information.

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. Hosted on Acast. See acast.com/privacy for more information.

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. Hosted on Acast. See acast.com/privacy for more information.

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. Hosted on Acast. See acast.com/privacy for more information.