So Money with Farnoosh Torabi

Priya Malani, founder of Stash Wealth and host of The F Word, explores the financial realities faced by high earners in their 30s. She uncovers why traditional budgeting fails them and introduces the concept of a 'magic number' for smarter financial planning. The conversation dives into the emotional aspects of money management, emphasizing the need to combat lifestyle inflation and redefine investment priorities. Priya also discusses the importance of mindset shifts for building real wealth and offers strategies to stop living paycheck to paycheck.

Georgia Lee Hussey, founder of Modernist Financial and a New York Times expert on elder care financing, joins to discuss the pressing financial challenges of affording care for aging parents. She shares strategies for the ‘sandwich generation’ managing both children and elderly caregivers. The conversation dives into the emotional complexities of long-term care planning, the risks of Buy Now Pay Later services, and the necessity of open communication about finances within families. Hussey emphasizes innovative solutions like legal help with Medicaid and the importance of estate planning.

In this engaging discussion, Nick Maggiulli, the Chief Operating Officer and a data scientist at Ritholtz Wealth Management, shares insights from his book, The Wealth Ladder. He breaks down the six levels of wealth and how to ascend from living paycheck to paycheck. Listeners learn about the 0.01% spending rule and the 1% earning rule, which offer practical benchmarks for smarter spending and income generation. The conversation also tackles the importance of mindset in financial growth and the evolving strategies needed as your net worth increases.

Megan Greenwell, a veteran journalist and former editor-in-chief of Deadspin, dives deep into the shadowy world of private equity in her compelling book, Bad Company. She discusses how private equity firms have disrupted industries like healthcare and retail, sharing poignant stories from individuals like Liz, whose life changed drastically after the takeover of Toys R Us. The conversation highlights the devastating effects on job security, housing, and essential services, while emphasizing the resilience of communities fighting back against these forces.

Dive into the world of personal finance with insights on how much net worth you need to feel wealthy. Discover the benefits of Roth IRAs and automated contributions for retirement savings. Learn about innovative methods for debt management and the potential of AI-driven personal loans. Get smart strategies for managing unexpected windfalls, ensuring your newfound funds work for you. Plus, explore tailored investment strategies designed for the long-term, all while emphasizing the importance of goal-setting and proactive money management.

In this engaging conversation, Martha Underwood, a 25-year tech veteran and the founder of Prismm, dives into the intersection of technology, finance, and personal legacy. She shares her inspiring story of creating a digital vault platform born from a family crisis. The discussion highlights the risks of AI biases, the challenges of being unbanked, and the importance of protecting one's data. Martha also offers practical tips for initiating crucial financial conversations with aging parents, emphasizing the vital role women play in shaping the future of finance.

Maryam Banikarim, a dynamic C-suite executive with a rich background as Global CMO for Hyatt, Gannett, and Nextdoor, is now the host of The Messy Parts podcast. She dives into the untidy realities of building a career, discussing everything from career burnout to the emotional toll of job loss. Maryam emphasizes the importance of vulnerability, community, and taking pauses to foster growth. She believes that embracing the messiness of life is key to true connection and success, especially for those navigating complex career paths.

Discover practical advice on tackling financial challenges like divorce and toxic workplaces. Learn about starting investment accounts for kids and the risks associated with the 'stay-at-home girlfriend' trend. Hear tips for navigating career choices and the importance of calculated risks in entrepreneurship. The discussion also covers essential steps for launching a business, including setting up financial accounts and the need for professional guidance. Get insights on investment platforms to help you and your family secure a brighter financial future.

Today’s guest has long been a trusted voice in the world of smart shopping and consumer advice, and now she’s turning her attention—and resources—to a new mission: empowering midlife entrepreneurs. Trae Bodge is a journalist, television commentator, and consumer expert who’s helped millions save at the checkout. However, after the passing of her mother in 2023, Trae felt compelled to do something more profound and personal.In this episode, we discuss her newest venture, the Threadneedle Alley Foundation, a nonprofit she recently launched to provide $5,000 grants and mentorship to midlife entrepreneurs facing financial hardship. The organization is named after the street where her mother ran a beloved small business for decades, and this work is Trae’s way of honoring that legacy while addressing a gap she’s long observed in her professional life: great small business ideas without the resources or support to thrive.We explore why midlife is often the perfect time to launch a business, the biggest misconceptions around starting over at 40 or 50, and how we can all think more creatively and fearlessly about what’s next. Trae also shares some Prime Day shopping tips and how to make sure you’re not getting duped by false “deals.”Whether you’re dreaming up your second act or just trying to save a little money this week, there’s something for you in this conversation. Hosted on Acast. See acast.com/privacy for more information.

Dr. Daniel Crosby, a psychologist and bestselling author, explores the emotional dimensions of wealth in this insightful discussion. He reveals how financial well-being connects to mental health, advocating for a shift from mere accumulation to aligning money with personal values. Crosby shares strategies for maximizing happiness through wise spending choices and highlights the joy of giving over personal expenditure. His latest book, 'The Soul of Wealth,' encourages reflections on what it truly means to live a wealthy life—emotionally and spiritually.