1482: Ask Farnoosh: The Pros and Cons of High-Yield Savings and 529 Roth Rollovers

So Money with Farnoosh Torabi

Farnoosh Torabi

Entrepreneurship, Business

4.7 • 2K Ratings

🗓️ 3 March 2023

⏱️ 28 minutes

🔗️ Recording | iTunes | RSS

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Summary

This week: Is it worth it to transfer savings out of your current bank to a high-yield savings account (HYSA)? Given a new law, is it wise to rollover unused 529 dollars into a Roth IRA? How can parents raise kids to be "so money?"

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Transcript

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0:00.9	This episode is brought to you by TNT Sports. Nothing brings people together like sport.
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0:10.3	There's exclusive UEFA Champions League and Premier League football,
0:13.5	along with the best rugby, boxing, UFC, WWE, MotoGP and more.
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0:21.1	Stream TNT Sports on Discovery Plus or watch TNT Sports channels on BT, Sky,
0:26.0	and Virgin Media. Subscription required, H18 Plus TNC's apply.
0:56.0	So, money episode 1482, ask Farnoosh.
1:26.5	Welcome to so money, everybody. Friday, March 3rd, 2023, firstly.
1:37.7	Huge shout out to the most important girl in my life who doesn't listen to this podcast yet,
1:42.4	but she will soon collate. My daughter turns 6 today and boy, is she thrilled to be getting
1:51.7	older. She also lost her first tooth this week. She said to me, Mommy, I'm so excited about
1:56.6	getting bigger. I said, slow it down. You have a lot of years ahead of you and enjoy being six
2:03.2	and being coddled and taken care of. Excited to celebrate with her this evening and then next weekend
2:09.1	with friends and family. Speaking of celebrations, last night I was in New York City to celebrate
2:14.9	Tara Schuster's book, Glow in the Effing Dark. You may remember Tara was on the show on my
2:21.4	birthday, February 15th. She's also the author of Buy Yourself, the Effing Lillies, and so
2:26.9	got a group of us together last night to support her book launch in New York. And I snagged two copies
2:33.3	of her book, two signed copies of her book that I want to give away to two so money listeners.
2:38.9	If you want a copy of Glow in the Effing Dark by Tara Schuster, which is all about how to
2:43.5	heal your soul. If you're kind of in a dark place or you've been dealing with a lot in your
2:48.2	life and you want to get on the other side of things and do it simply. She's got simple practices.
	...

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