So Money with Farnoosh Torabi

If you've ever felt like the math just doesn't work anymore, that you're doing everything right and still coming up short on rent, groceries, and student loans, this episode is for you.

Freddie Smith spent nearly twenty years acting, including nine years on Days of Our Lives, before a business manager who was supposed to be handling his money instead stole it and stopped filing his taxes. He found out when the IRS came looking for three years of back payments, with interest and penalties on top. Then came the pandemic. He lost the show, moved to Florida, and had to rebuild his finances from zero in a brand new career.

That personal collapse turned into a mission. Freddie started sharing what he was learning about taxes, investing, inflation and the Fed on TikTok and Instagram, not as an expert, but as someone figuring it out in real time alongside his audience. That honesty struck a nerve. He's built a community of two million people in three years, and it's now the subject of his new book, Generation F*cked.

In this conversation, Freddie and I get into why he thinks the real crisis for millennials and Gen Z isn't financial illiteracy, it's wages that haven't kept pace with the actual cost of living. We talk about his "big four" (housing, student loans, childcare, and healthcare), why he thinks college needs a hard math test before anyone signs on the dotted line, his wild but genuinely compelling case for how an 18-year-old could retire with millions just by investing early, and why he's cautiously optimistic that his generation is about to be the one that finally changes the system.
Learn more about Farnoosh's upcoming literary workshop Book to Brand. Early bird registration is now open!

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This week on Ask Farnoosh, I'm reflecting on a memorable visit to the Today Show with my daughter, Colette, and how exposing kids to new experiences can shape their futures. That conversation leads into one of the smartest long-term wealth-building strategies available to parents: putting your child on payroll—legitimately—and using earned income to fund a Roth IRA.

I also unpack fascinating new research linking chronic financial hardship to long-term brain health, discuss Senator Andy Kim's proposed Healthy Kids Act, explore why modern baby registries are shifting from "stuff" to services, and share lessons from a Washington Post column on what people consistently misunderstand about retirement.

Then, in this week's listener question, I help a family navigate an emotionally complicated financial crossroads: a potential $500,000–$800,000 inheritance, a home renovation, IVF, a recent layoff, and the challenge of deciding which priorities deserve the biggest investment. Together, we explore why the most valuable outcome isn't simply growing wealth—it's creating more choices.

Referenced: Senator Andy Kim on So Money.

Learn more about Farnoosh's upcoming literary workshop Book to Brand. Early bird registration is now open!

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

Today's show covers the ins and outs of LLCs and S-Corps and how to determine which one (or both) is best for structuring your business. The guest is Hannah Cole, creator of Sunlight Tax. You can visit Sunlight Tax for resources mentioned in today's episode.

This episode was originally published May 13, 2024.
Learn more about Farnoosh's upcoming literary workshop Book to Brand. Early bird registration is now open!

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

Anthony O'Neal, had $6.32 to his name on a Wednesday night. He needed gas. He was hungry. He ended up cutting two McDonald's double cheeseburgers in half — that was his food for the next two days. He diluted his sweet tea with water to stretch it. And in that moment, eating a cold half-burger in his apartment, something shifted in him. He thought: there has to be a better way.

Fast forward to his fortieth birthday. Anthony is on a private yacht off the coast of Italy. The chef comes out mid-dinner, not just to ask how the fish is — but to offer to catch that same fish again for him tomorrow. And Anthony thought back to that Wednesday night, that half-burger, that $6.32 — and he realized: he had found the better way.
Anthony O'Neal is a bestselling author, speaker, and host of The Table with AO. His new book, Stop Living Paycheck to Paycheck: The Proven Path to Break Free from Debt, Build Real Wealth, and Live Free on Any Income, is out in August.

Learn more about Farnoosh's upcoming literary workshop Book to Brand. Early bird registration is now open!

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

On this week's Ask Farnoosh Friday, we're tackling five thoughtful listener questions that touch on everything from career transitions and combining finances as a couple to insurance, retirement accounts, and planning for the future.

Before we dive into the mailbag, I also share a few headlines that caught my attention this week—including a fascinating new trend in prenups designed to protect stay-at-home parents, California's latest move to make personal finance a graduation requirement, and a New York Times article about the money frustrations that seem uniquely American (plus a few of my own!). And yes...So Money is officially on YouTube.

In this episode:
Why you shouldn't feel guilty quietly job hunting before you have an offer
The best way to leave an employer professionally while protecting your own career
How couples can combine finances without sacrificing independence
Why "fair" doesn't always mean splitting expenses 50/50
My favorite three-account system for couples
The insurance policies every young professional should prioritize—and which ones can probably wait
Why your ability to earn an income may be your greatest financial asset
When to start thinking seriously about long-term care insurance
How to prepare for future caregiving conversations with your parents
What to do with an old, empty 401(k) account after your employer changes retirement providers
Why cybersecurity deserves a place in every annual financial checkup

Also in the news:
A new prenup trend: More couples are adding "leave the workforce" clauses to protect spouses who pause their careers to raise children or provide care, recognizing the real financial cost of unpaid caregiving.
Money annoyances in America: Inspired by a New York Times article from Ron Lieber and Tara Siegel Bernard, I share my own biggest financial pet peeves—from managing kids' allowance to credit card surcharges and New Jersey property taxes.
Financial literacy gains momentum: California becomes the 26th state to require a standalone personal finance course for high school graduation, signaling a major shift in how we prepare young people for adulthood.

Resources & Mentions
So Money is now on YouTube
Columbia Journalism Review's feature on The Montclair Pod
Wall Street Journal reporting on caregiving clauses in prenups
New York Times article: "6 Things That Drive Us Crazy About Money in America" by Ron Lieber and Tara Siegel Bernard

Have a question for the show?
Send your question for a future Ask Farnoosh Friday! If it's on your mind, chances are thousands of other listeners are wondering the same thing. You can email me, leave a voicemail, or connect with me on Instagram.

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Learn more about Farnoosh's upcoming literary workshop Book to Brand. Early bird registration is now open!

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