So Money with Farnoosh Torabi

If you’re looking to write a book and have it be successful, to help you build your brand and business, then you’ll love hearing from today’s guest! Rob Kosberg is joining me and he is a marketing and brand-building expert who specializes in helping his clients become “go to” experts in their respective fields.  He’s also a best-selling author having wrote Life After Debt: Practical Solutions To Get Out of Debt, Build Wealth, And Radically Transform Your Finances Forever! His book address strategies and the mindset needed to overcome debt and live a debt-free lifestyle. The book has since translated into a podcast also called Life After Debt. For more information visit www.somoneypodcast.com. Hosted on Acast. See acast.com/privacy for more information.

Mrs. Frugalwoods is a self-described frugal weirdo, all the way from Boston. She's one of a couple that's set on living on an extremely small budget with the goal of retiring in their 30's. They're called The Frugalwoods and their blog is apply titled Frugalwoods.com. There they chronicle their journey. They live in Cambridge, also known as Frugal City, with their dog Frugal Hound who makes frequent appearances on the blog and the couple saves more than half of their income in the hopes of retiring to a homestead in rural Vermont one day. Their end game is to create a new fulfilling life for themselves close to nature and be able to garden and just live off the land. They've become so efficient at saving that they spent just $13,000 last year in the city of Boston. How is that possible? They're also expecting their first child and have just spent about $20 on the baby so far. Is that gonna keep up? How is this possible, right? Right now they are 30 and have just three years, they say, to go until retirement. In our conversation with Mrs. Frugalwoods, Mr. Frugalwoods was at work so we just got Mrs. Frugalwoods on the phone, but she has some amazing advice for all of us.For more information visit www.somoneypodcast.com. Hosted on Acast. See acast.com/privacy for more information.

In today's episode of Ask Farnoosh, I answer your biggest questions about the future of education, what to do when you and your spouse don't agree on your financial advisor, what to know when inheriting someone else's 401k and what to look for when buying a new house. For more information visit www.somoneypodcast.com. Hosted on Acast. See acast.com/privacy for more information.

In today's episode of Ask Farnoosh, I answer your biggest questions about the best way to self-publish a book, paying for grad school without going broke, what to do when you're in a high cost of living area and more.For more information visit www.somoneypodcast.com. Hosted on Acast. See acast.com/privacy for more information.

We are rounding out So Money "Millennial" week!A “So Money” Millennial is someone who has proven to have accomplished a great deal in the their financial life in their 20s or early 30s. So often we hear about the struggles which are very real and sobering: the average college student graduates with around $35,000 in student loans, often lots more. It’s tough to find a job, save and sometimes you have to live with your parents. But today’s guest wrote in to me to say that she believes she is ahead of the curve. And I have to agree.We’re going to be speaking with Latrese Bookhard.  She is twenty-six and currently serves in the military.She says, Farnoosh, "I’m debt free, have a net worth approaching $100,000 and I paid off $53,000 in student loan debt. I max my annual Thrift Savings Plan and Roth IRA contributions. I save well over 50% of my take home pay and consider myself an aspiring “Millionaire Next Door” and early retiree. I’ve always been frugal but I kicked everything into high gear when I found a Yahoo Finance article profiling Mr. Money Mustache two years ago. His blog has led me to many other blogs, books and podcasts and has helped me really change how I think about money."So let’s learn more about Latrese. How does she think about money and what lessons does she have to teach us all? Hosted on Acast. See acast.com/privacy for more information.

Sophia Bera is in her early 30s and has already started her own company, GenY Planning, which delivers comprehensive financial planning to people in their 20s and 30s across the country.Most financial planners require an asset minimum of $1 million, making it an unattainable resource for most people, particularly millennials seeking advice with how to start building their finances. With Gen Y Planning, Sophia, a certified financial planner, is determined to shake up the financial planning industry, and work with clients today so that they can reach $1,000,000 in the future.But interestingly Sophia actually never planned to be in finance. She was actually a Theater Performance and Women’s Studies major in college at Minnesota State University-Mankato. While in college, she set the impressive goal for herself of buying a house after graduation, and she became obsessed. She spent her time between classes at Barnes and Noble reading everything she could about money, personal finance, real estate and building wealth. And at the ripe age of 21 when she graduated, she bought a house.Seeing her success, her friends began to ask her for advice, which lead her to becoming a CFP and eventually starting Gen Y Planning.For more information visit www.somoneypodcast.com. Hosted on Acast. See acast.com/privacy for more information.

My guest today is a woman with similar drive and ambition to the So Money Millennials you've already heard from earlier this week. Today's guest is Raya Schwartz, and she is just 25 and has already opened up her own waxing boutique in Tampa, FL!She became an esthetician at 18 in New Mexico, and when she turned 20 got a job at a waxing salon. She made a good salary of over $60k per year, but was unhappy with the way the owners treated the employees. So, she decided go out on her own and start a small spray tan business. In her first year she was able to match her salary from her previous salon!She then moved to Tampa and opened the successful Flirt Wax Bar. Her goal is to be financially and physically free to travel and spend time with her family – and she is well on her way.For more information, visit www.somoneypodcast.com. Hosted on Acast. See acast.com/privacy for more information.

My So Money Millennial today wasn’t a top student or star athlete, but Kristina Ellis, 28, managed to earn half a million dollars in college scholarships by the time she graduated high school in 2005.  . The most recent graduating class finished college with an average $35,000 in student loans – the highest on record.  And of course we’ve heard of students saddled with six figures in student loans. It’s a crisis.For Kristina, after her mother sat her down in the 9th grade and told her she wouldn’t be able to financially support her daughter once she graduated high school, she became empowered to find a way to afford her own future without skipping college or going into massive debt.Instead, she immediately began researching the best ways to qualify for top scholarships. She spearheaded community service missions, coached and grew her gymnastics team and even managed to get crowned Miss Indiana Teen USA. From there Kristina cast a very wide application net and managed to earn $500,000 spread across 20 scholarships, including the Coca-Cola and Gates Millennium Scholar awards.Kristina now shares her strategies to help others win scholarships and graduate from college debt-free in her book, Confessions of a Scholarship Winner, which has ranked in the Top 20 among all books on Barnes and Noble and in the Top 40 on all of Amazon, as well as topping the charts in Amazon's College & University category.For more information visit www.somoneypodcast.com. Hosted on Acast. See acast.com/privacy for more information.

When you think of retiring early…you might think 55..50…Mr. Money Mustache retired when he was 30 – which WAS the youngest age I’d heard of retiring at…until I got an email from my guest today Travis Hornsby. He is 25 years old and claims that he is retired! My first reaction was – WHAT? And then I laughed…and then I thought I really need to talk to him.A little more about Travis: Up until this year he was working as a bond trader at Vanguard. He had passed the CFA exams, and was on track to become a Portfolio Manager, but he realized that he wasn't fulfilled…reminds me of a tony robbins saying that success without fulfillment is FAILURE. Travis had always been a big saver since college, so he decided to take the plunge and start saving two-thirds of his income and live like a pauper with the goal to retire at 25, which he has just achieved. As of right now he is enjoying his retirement by traveling the world. He’s already been all over Europe, and plans to travel to South America and Asia next. Today he’s coming to us all the way from Poland!He has started the website millennialmoola.com to share his advice and help others save and live more. He also has a brand new book called 25 IS THE NEW 65, where he shares his story of how he retired early and shows other millennials how they can do it too. Hosted on Acast. See acast.com/privacy for more information.

In this episode of Ask Farnoosh on So Money podcast, I answer your questions about how to go about firing your financial advisor, online resources to check your resume, the best ways to calculate how much you're saving, and more.  For more information visit www.somoneypodcast.com. Hosted on Acast. See acast.com/privacy for more information.