So Money with Farnoosh Torabi

Help shape So Money in 2027
What’s the money question you’re living with right now? Maybe you want to work less, help a parent, or figure out what it would cost to start over. I’d love to hear what you’re trying to decide as we get ready for January. Take my So Money midlife survey.

This week on Ask Farnoosh, Nvidia’s leadership shake-up gets me thinking about what deserves my attention as a long-term investor. I’m happy to pay attention to the news and let my automatic contributions go through. The thing that’s more likely to change my plan? Finding out I’ll need the money sooner than I thought.
From the mailbag, we’re revisiting Trump Accounts. Who qualifies for the federal $1,000 contribution? What happens when your child turns 18? I share why we opened accounts for our kids and how I’d decide where to put my own money if college is the goal or my teen has a summer job.
Plus, the 2027 401(k) contribution limit is going up. Should you max it out? We’ll talk about getting your full employer match and making room in your plan for the things you might want to do before retirement, like cutting back at work or taking time to start over.

Trump Accounts resources
IRS FAQ on eligibility and the $1,000 federal contribution
IRS Form 4547 and filing instructions
Official Trump Accounts website

Also mentioned
IRS 401(k) and IRA contribution limits for 2027
How's midlife going? Fill out Farnoosh's survey and help shape the podcast in 2027.

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Jesse Mecham, founder of YNAB (You Need A Budget), returns to So Money to discuss his new book, Never Worry About Money Again, a thoughtful guide to reducing financial stress by changing the way we think about money. Rather than focusing on budgeting tactics or investment strategies, Jesse argues that lasting financial confidence begins with answering one powerful question: What is your money for?

We also discuss how to raise financially curious kids, why earning more doesn't automatically eliminate money worries, and how learning to embrace trade-offs can transform the way we spend, save, and live.

In this episode, we learn:

Why making more money often doesn't solve financial anxiety.
The one question Jesse believes everyone should ask before creating a budget.
How to build a spending plan that reflects your values—not just your bills.
The surprising expense most people happily cut once they become more intentional.
Why it's okay—and healthy—to change your financial priorities over time.
How to talk to children about money without passing down fear or shame.
What Jesse learned from writing (and completely rewriting) this book.
Why even the founder of YNAB occasionally worries about money—and the exercise he uses to regain perspective.
Jesse's thoughts on AI, financial advice, and where money management is headed next.
How's midlife going? Fill out Farnoosh's survey and help shape the podcast in 2027.

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

My guest today owns land on the moon.

And somehow, that is not even the most interesting thing about his approach to money.
Joseph Moore is a historian and professor who spent years studying how Americans have tried to get rich over the last 300 years — from land speculation and market bubbles to stocks, crypto and today’s biggest investment trends.

And after all that research, he came to a pretty provocative conclusion: a lot of the financial advice we hear over and over again may not actually be the best way to build wealth.

So Joseph decided to test history for himself. He created a cryptocurrency. He systematically shorted Jim Cramer’s stock picks. He studied how investors behaved through centuries of booms and busts — and used some of those lessons in his own portfolio.

Along the way, he became a millionaire.

His new book is How to Get Rich in American History: 300 Years of Financial Advice That Worked (and Didn’t).

Today, we’re talking about what 300 years of history can teach us about getting rich, why he says diversification alone won’t make you wealthy, how to recognize hype before it’s too late, and the money advice he thinks far too many of us blindly follow.
How's midlife going? Fill out Farnoosh's survey and help shape the podcast in 2027.

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

Feeling financially stretched? When you’re trying to save, pay off debt, prepare for a possible layoff and help family, figuring out what to prioritize can become its own source of stress.

Following my appearance on Live with Kelly and Mark, I’m expanding on the questions we prepared for the segment, including everything we didn’t have time to discuss on television.

We explore:
Savings versus debt: Where should your next dollar go, and how does the answer change if your job feels uncertain?
Emergency funds: Is six months of expenses really a rule? How to set a starting goal you can actually reach.
Job insecurity: What to find out now about severance, health insurance and your household expenses.
Retirement contributions: When a temporary reduction may make sense and how to plan for restarting.
Investing and borrowing: The risks of relying too heavily on employer stock and what to consider before taking on another loan.
Helping family: How to support adult children or aging parents without jeopardizing your own stability.

Plus, a look at the midterm elections through a personal finance lens and an update on the So Money reboot. I’ve recorded my first conversation in the new studio, and we went straight into breadwinner fatigue. Yes, the woman who wrote When She Makes More has additional thoughts.
How's midlife going? Fill out Farnoosh's survey and help shape the podcast in 2027.

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

Is the “safe” choice still serving you, or just keeping you somewhere familiar?

In midlife, taking a risk can feel like volunteering for another problem. You have bills, responsibilities, and a future you’ve worked hard to protect. But staying in a job, a place, or a plan you’ve outgrown comes with its own costs.

Economist Allison Schrager joins Farnoosh to explore how to take thoughtful chances when you have more to lose. Allison is a Bloomberg Opinion columnist, a senior fellow at the Manhattan Institute, and the author of Worth the Risk: The Seven Myths That Keep Us from Taking the Chances We Need to Take.

Farnoosh shares why her advice for midlife is to “be mobile,” inspired by her immigrant parents’ willingness to move toward opportunity. Together, they examine what that advice means when changing direction involves a paycheck, health insurance, caregiving, or retirement savings.

Topics include:
Why you haven’t aged out of taking risks, and how experience can become an advantage.
How to distinguish a familiar choice from a secure one.
What to consider before changing careers or starting a business.
The difference between feeling uncomfortable and being unable to afford a risk.
How to test an idea before making a major commitment.
Why the reward worth pursuing might be more time, flexibility, or freedom.
Learn more about Allison and her book at allisonschrager.com.
How's midlife going? Fill out Farnoosh's survey and help shape the podcast in 2027.

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