New Jersey Governor-Elect Mikie Sherrill joins Farnoosh for a candid conversation about the rising cost of living, the future of public schools, health care, taxes, and why politics and personal finance are inseparable.Sherrill, a former Navy helicopter pilot, federal prosecutor, and three-term congresswoman, recently won the governor’s race in a decisive victory that coincided with significant Democratic gains nationwide. In this episode, she breaks down what state leaders can actually do to make life more affordable for families, from freezing utility rates to improving school funding to modernizing energy infrastructure.Farnoosh also gives listeners a heads-up: the first part of this interview touches on a hyper-local school budget crisis in her hometown of Montclair, NJ. But this story isn’t unique. Across America, school districts are confronting rising costs, shrinking state support, and — in some cases — financial mismanagement. The questions Montclair is wrestling with (“Raise taxes or accept restrictive state aid?”) are the same questions communities everywhere are facing.In this wide-ranging conversation, Sherrill discusses:Why public-school funding is cracking nationwideThe real barriers to affordable health care at the state levelHow utility-rate freezes would work — and what critics get wrongThe affordability crisis squeezing middle-class familiesWhat her election signals about the national political landscaOriginally recorded for Farnoosh’s local podcast The Montclair Pod, this expanded So Money release provides a rare look at how a new governor thinks about money, power, and the policies that shape our financial lives.
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This week’s Ask Farnoosh pulls together some of the most revealing financial stories of the week, grom pandemic-era homebuyers now feeling “locked in” by their ultra-low mortgage rates, to Gen Z putting marriage, kids, and career plans on hold until they can afford a home. Farnoosh also breaks down an under-the-radar proposal from the CFPB that could weaken anti-discrimination protections in lending, a shift that could impact mortgages, auto loans, credit cards, and small-business financing.Then, she heads to the mailbag to answer listener questions:Should you borrow more on a home-equity loan to protect your savings during a renovation?How can a self-employed spouse take full advantage of a healthcare FSA?What exactly is the IRS “contract” that lets you withdraw from retirement accounts early? (Hint: SEPP/72(t) and the Rule of 55.)And if you’ve bought a home for your parents, are you putting your own retirement at risk?
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1907: A Tax Strategy That Puts Humans First
Hannah Cole, founder of Sunlight Tax, is back on So Money. And she’s here with big news: Her new book, Taxes for Humans: Simplify Your Taxes and Change the World When You’re Self-Employed, is officially out in the world — funny, joyful, deeply practical, and truly unlike any tax book you’ve ever read. I’m holding it in my hands right now.And for my Montclair and NYC listeners: Hannah is coming to Montclair on January 15th at 7PM for a special stop on her book tour. I’ll be on stage with her at The Rec Room at Lackawanna Plaza, and tickets are available at: SunlightTax.com/MontclairIn today’s conversation, Hannah and I dig into so much helpful ground, including:The big goal behind Taxes for Humans and why she believes tax education is actually a form of empowerment.The limiting beliefs and shame traps so many freelancers carry around taxes — and how to break them.Her beautifully simple three-system approach to staying organized (receipts, tax docs, and bookkeeping — yes, they’re different).What to do if you can’t pay your tax bill, how audits actually work, and why the IRS is often far less scary than we’ve been taught.
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1906: What Women Need to Know About Protecting Their Wealth: A Legal ToolKit
Today’s guest is someone who has spent more than two decades helping women, families, and entrepreneurs build, protect, and keep their wealth.Ann Margaret Carrozza is a nationally recognized asset-protection and elder-law attorney, a former New York State Assemblywoman, and a trusted legal commentator seen across CBS, NBC, Fox Business, and iHeart. Her new book, The Smart Woman’s Guide to Building & Protecting Wealth, is a roadmap for safeguarding everything you’ve worked hard to earn — from unexpected lawsuits and tax traps to relationship risks and long-term care. In our conversation, Ann Margaret makes one point very clear: You cannot build wealth unless you also protect it. And for women in particular who statistically earn less, live longer, and often carry more family responsibility, the stakes are even higher. In this episode, we break down how transparency, smart prenups, and strategic tools like trusts and alternative long-term care policies can help protect your assets, your home, and your future. You can follow Ann Margaret on Instagram @MyLawyerAnn
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1905: Ask Farnoosh: 50-Year Mortgage? Seriously?
Farnoosh breaks down how much a 50-year mortgage would actually cost (spoiler: it's hardly a savings!) Plus: Getting your employer to help you with your down payment, helping your child become a millionaire, and splitting furniture costs with your partner when moving in together.
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*** Named a Best Podcast By The New York Times, Time Magazine, Real Simple and MSNBC *** Host Farnoosh Torabi is an award-winning financial strategist, TV host and bestselling author. With over 40 million downloads and multiple Webby wins, So Money is dedicated to sharing inspiring money strategies and stories straight from today's financial leaders, bestselling authors and entrepreneurs. One day, hear an intimate money conversation with industry greats like Queen Latifah, Barbara Corcoran or Margaret Cho. Another day learn the basics of cryptocurrency and its impact on our wallets. On Fridays, tune in as Farnoosh answers our most pressing financial questions about saving, investing and building wealth. Advice and insights always delivered through a lens of equity, inclusivity and the changing world we live in. Want more? Join the So Money Members Club at SoMoneyMembers.com.
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