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Episode 96. Why We Need Wealth In The Hands Of Women | Farnoosh Torabi, Award-Winning Personal Finance Expert & Host of So Money

Episode 96 is about how women can redefine what being wealthy means, while not negating their potential for wealth. If you’ve ever been made to feel guilty or ashamed for wanting to pursue wealth, this one is for you!

Farnoosh Torabi is one of America’s leading personal finance authorities who’s hooked on helping you live your richest, happiest life. As a multi-bestselling Financial Author, Contributing Editor to Time Magazine’s NextAdvisor, CNBC host and creator of the award-winning So Money, Farnoosh has become our favorite go-to money expert and financial friend. The New York Times calls her advice, “perfectly practical.” Farnoosh’s podcast has surpassed 17 million downloads with listeners in over 200 countries, thanks to its one-of-a-kind interviews and deep conversations about money. 

Farnoosh was born in Worcester, Massachusetts to immigrant parents who left Iran in the late 1970s in search of a more fulfilling life. Arriving with two suitcases and the promise of a small stipend from her dad’s university, the Torabi’s took a leap of faith and settled in the United States hoping to build their version of the American Dream. It was here that her parents furthered their education, found fulfilling work, became homeowners and instilled in their children the virtues of patience, generosity and hard work.  Money may have been tight (really tight), but it was never a taboo in the household and for that, Farnoosh is eternally grateful. It’s what ultimately inspired her to lead a mission to help others achieve financial greatness.  

Her latest bestseller is entitled When She Makes More: The Truth About Love and Life for a New Generation of Women. Farnoosh’s work and advice have been featured in The New York Times, The Wall Street Journal, Fortune, Forbes, Time, Marie Claire, Glamour, Redbook and USA Today. She graduated with Honors from Pennsylvania State University with a degree in Finance and International Business. She also holds a Master’s from the Columbia University Graduate School of Journalism. 

In Episode 96, Farnoosh talks about:

  • Balancing passion with a return on investment— Farnoosh cuts to the chase: the people who can do this most easily are those who have had the world handed to them. For women like us (first-generation wealth builders of color), pursuing our passions cannot always support our circumstances. So how do we negotiate earning a sustainable income while doing something that actually matters to us? Listen to find out how Farnoosh negotiated this in her education and in her career. Bonus: we talk about this same negotiation with Erika Cruz in Episode 82!
  • Redefining being wealthy— it is easy to demonize wealth when we have seen or experienced the damage that it can cause. But maybe, being rich does not need to mean doing more harm, or being selfish. Farnoosh encourages us to frame the act of gaining wealth with the potential to make an impact.
  • The relationship between earning money and shaping our identity— earning money does not need to make us into a different person. On the contrary, Farnoosh believes that money makes us more of who we are. That’s why it’s important to identify our values and our purposes in life. Listen to find out how Farnoosh has been able to do just this.
  • Being the female breadwinner— when you’re a woman who is earning more than your partner, you can face judgement from friends or family, or even from your spouse! As a collective, we have been conditioned as women to believe that our place is in the home, and not making tons of money. Farnoosh sees this as an opportunity to open a conversation about money with our loved ones.

Partners mentioned in this episode:

Ellevest helps women unleash their financial power with a customized, goals-based approach in one beautiful platform. Created for women and designed by women.

Fiverr – Connects businesses with freelancers offering digital services in 300+ categories, starting at just $5!

BetterHelp – Professional Support When You Need It, At The Fraction Of The Cost Of In-Person Therapy. Get 10% off your first month!

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