1840: How *Not* to Invest: Avoiding Financial Failure in a Noisy World

Brad Barrett, the co-founder of ChooseFI, joins us to share his latest financial perspectives and views on FIRE (Financial Independence Retire Early) and some small ways to cut thousands of dollars per year from your budget.

In our financial lives, setting goals isn’t just about having aspirations; it’s about understanding how to build sustainable, achievable plans that propel us toward success. Guest Caroline Adams Miller has spent over 30 years pioneering the science behind how we set goals, stay resilient, and achieve meaningful success. Her newest book, Big Goals, is changing the conversation around achieving personal and professional ambitions.

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)?

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.

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.

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.

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.

Today’s guest is Barry Ritholtz, co-founder and chief investment officer of Ritholtz Wealth Management, host of the long-running Masters in Business podcast, and the author of the classic Bailout Nation. His new book, How Not to Invest: The Ideas, Numbers, and Behaviors That Destroy Wealth, is a sharp, timely guide to what really derails investors — and how to avoid those traps.

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.

Our guest needs little introduction if you’ve spent any time in the world of online entrepreneurship. Pat Flynn is one of the most respected thought leaders in digital business and passive income. He’s the creator of Smart Passive Income, host of multiple top-ranked podcasts, a sought-after speaker, and the author of several bestselling books including Will It Fly? and Superfans.Now, Pat is back with a timely and much-needed new book: Lean Learning: How to Achieve More by Learning Less. In an age when we’re drowning in information and pulled in a dozen directions by the algorithm, Lean Learning is a practical framework for mastering new skills efficiently—without burning out or going broke in the process.In our conversation, Pat and I talk about:The danger of “overlearning” and why too much information can backfireThe difference between "just-in-case" learning and "just-in-time" learningHis 1-1-1 method for launching a business with zero overwhelmThe “Inspiration Matrix” and how it helps prioritize your ideasLeaning into AI as a tool for creativity—not a crutchWhy he teaches his kids executive function and communication over GPAsThe 20% Itch Rule—and how it led to multimillion-dollar projects like the SwitchPod