So Money with Farnoosh Torabi

It’s July 4th—a day for fireworks and freedom—but this year, we’re confronting a very different kind of spark. In this special holiday episode, Farnoosh breaks down the controversial “Big Beautiful Bill,” passed by the House. The sweeping legislation includes massive tax cuts for the wealthy and deep spending cuts to public services like health care and education. Farnoosh explains who stands to gain—and who could lose access to critical benefits, from Medicaid to special education funding.Then, it’s time for the mailbag! Farnoosh answers your money questions, including:With markets at record highs and a rate cut on the horizon, where should you put your money? (Hint: It depends on your timeline—rainy-day fund, short-term goals, or retirement.)How to tackle credit cards with high balances, even in a rising interest rate environment.What are medical billing advocates—and how can they help you lower your health care bills? Hosted on Acast. See acast.com/privacy for more information.

In this discussion, Brad Barrett, co-founder of ChooseFI, explores fresh perspectives on the Financial Independence Retire Early (FIRE) movement. He advocates for a balance between saving and living, sharing small yet impactful ways to save thousands yearly. Brad reflects on insights gained during the pandemic, stressing personalized financial strategies over one-size-fits-all approaches. He also discusses the importance of aligning spending with values and finding fulfillment in both personal and professional pursuits.

Caroline Adams Miller, a magna cum laude Harvard grad and an expert in goal setting, discusses the art of creating effective financial plans. She emphasizes the need for clear, evidence-based goals and addresses the unique challenges women face in achieving them. The conversation dives into combating gender bias in financial advice and highlights the importance of solidarity among women in the workplace. Additionally, Caroline explores using AI to enhance goal-setting and shares her journey behind her new book, 'Big Goals,' celebrating personal and professional milestones.

This week’s Ask Farnoosh mailbag includes timeless questions with a fresh twist:-What should you do after paying off your mortgage?-How to handle running out of tuition money when your child is in their third year of college.-Is it worth opening a second retirement account beyond your 401(k)?-And what’s the real difference between a Roth IRA and a Roth 401(k)? Hosted on Acast. See acast.com/privacy for more information.

We’re taking you inside the So Money Members Club for an exclusive workshop Farnoosh hosted recently on one of the most urgent financial topics for families: saving for higher education, with a deep dive into the world of 529 college savings plans. This workshop features Patricia Roberts, a leading expert and author on the topic, who brings both professional and personal insight to the conversation. Patricia is the author of the newly updated Route 529.What you’re about to hear is the full workshop presentation—but what you won’t hear is the rich Q&A we had at the end, just for members. That’s one of the many perks of joining the So Money Members Club—a private, tight-knit community curated and run entirely by me. Not an assistant, not a bot—just me, guiding you through live monthly workshops, office hours, and deeper discussions around money, work, and life.Membership also includes full access to our growing library of workshop recordings and commercial-free episodes of this podcast.If that sounds like something you’d love, visit SoMoneyMembers.com to learn more and join us. Hosted on Acast. See acast.com/privacy for more information.

Today we’re catching up with the incredible Jannese Torres, host of Yo Quiero Dinero podcast and trust me—she’s had a year. Since her last visit, she’s launched her book Financially Lit, traveled the country on a book tour while secretly pregnant, became a mom, got engaged, and even bought a house.But that’s just the beginning. In this conversation, we dive into how financial independence has reshaped her life as a new parent, her approach to building wealth while growing a family, and—something we don’t talk about nearly enough—how she and her fiancé have structured their finances now that he’s a stay-at-home parent on her payroll.From prenups to parenthood, from self-employment hacks to the real cost of giving birth (wait until you hear her hospital bill), Jannese gets real about the financial and emotional shifts that come with these big life changes. Hosted on Acast. See acast.com/privacy for more information.

In this Ask Farnoosh episode, Farnoosh shares a personal reflection on the growing conflict between Iran and Israel, plus a roundup of headlines you need to know: the S&P 500 hits a record high, credit card APRs climb despite the Fed holding rates steady, and parents are spending more than ever on youth sports. Farnoosh also answers listener questions about negotiating a counteroffer, borrowing from a 401(k), selecting a balance transfer card, and building a beginner’s financial plan. Plus: a Costco gold bar sighting and why investing should never be impulse-driven. Hosted on Acast. See acast.com/privacy for more information.

ADHD and money. It’s a combination that’s often misunderstood—and rarely addressed with the nuance and compassion it deserves. For those living with ADHD, traditional financial advice like “just follow a budget” or “build good habits” can feel like a mismatch, leaving many feeling overwhelmed, frustrated, or even ashamed.Joining us today is Nicole Stanley, founder of Arise Financial Coaching and a money coach who was diagnosed with ADHD as an adult. That diagnosis reshaped her understanding of not only herself, but how she managed her money—and how she now helps others do the same.In this deeply personal and practical conversation, Nicole shares how her ADHD shaped her early money behaviors, why typical budgeting tools never worked for her, and how she built systems rooted in self-compassion, automation, and yes—dopamine.Whether you’ve been diagnosed with ADHD, suspect it, or simply feel like the standard personal finance advice doesn’t “stick,” this episode offers a roadmap to creating a financial life that feels not just doable—but motivating and empowering. Hosted on Acast. See acast.com/privacy for more information.

Barry Ritholtz, co-founder and chief investment officer of Ritholtz Wealth Management, shares valuable insights on steering clear of investment traps in today's noisy financial landscape. He emphasizes the importance of a long-term perspective and understanding economic fundamentals. Ritholtz cautions listeners about the myths of financial democratization and the dangers of market volatility. He also discusses strategies for identifying mispriced assets and critiques the trend of complex financial products aimed at average investors, urging critical assessment and wisdom in investing.

On this week’s Ask Farnoosh, we tackle a fresh round of your money questions, including:Is whole life insurance ever worth it?What are the smartest (and most affordable) ways to invest in your health?How to job-hunt effectively with a PhD in hand and limited prospects.But first, Farnoosh recaps top stories in money news, from Trump’s push to include crypto in 401(k)s, to the surprising rise in early Social Security claims, the falling dollar, and a rare bright spot: more Americans are finally hitting their retirement savings goals.Join the So Money Members Club.Download Farnoosh’s free investing blueprint.Hang out with Farnoosh on Instagram. Hosted on Acast. See acast.com/privacy for more information.