1509: Ask Farnoosh: How Are You Preparing for a Recession?
So Money with Farnoosh Torabi
Farnoosh Torabi
4.7 • 2K Ratings
🗓️ 5 May 2023
⏱️ 40 minutes
🧾️ Download transcript
Summary
Farnoosh dives into how she is recession-proofing her finances, along with special co-host Nicole Stanley, founder of Arise Financial Coaching. Plus: Optimizing your time and job search post-layoff. Farnoosh picks a reviewer of the week for giveaways.
Listen to Nicole's past interview where she talks about battling financial anxiety and building her family’s net worth to over $250K on an annual salary of $56K.
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Transcript
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| 0:00.0 | So money episode 508, ask for a new sh. |
| 0:30.8 | Welcome to so money everybody. I'm Farnoosh. This is Friday and so you're listening to ask |
| 0:36.5 | Farnoosh Friday May 5th 2023 our three year anniversary of moving into this home in New Jersey |
| 0:44.6 | more on that in a just a second. But today's episode is a special one because we are going to be |
| 0:49.2 | joined by Nicole Stanley one of my favorite people in personal finance. She's the founder of |
| 0:54.8 | a rise financial coaching which helps professionals ditch debt save more and achieve |
| 1:00.6 | financial confidence. But more than that she helps all of her clients and everyone on this show |
| 1:06.5 | and myself too battle financial anxiety. So Nicole works at the intersection of money and mindset |
| 1:13.2 | money and mental health. She herself if you listen to her episode on so money which I'll put |
| 1:17.9 | in the show notes when she first came on the show she talked about how she built her families |
| 1:22.2 | net worth to over a quarter of a million dollars earning 56,000 a year. Today she's helped hundreds |
| 1:28.6 | and hundreds of clients all over the world. Some of you in the audience and we're going to talk about |
| 1:33.4 | how she and I are preparing for a possible recession. This was a question lifted from the audience. |
| 1:39.5 | How to strike a balance with your life post layoff so that you are maybe enjoying some of the time off |
| 1:45.0 | if you've afforded yourself some financial runway but you don't want to lose momentum |
| 1:49.3 | and completely check out of the workforce which could backfire once you're ready to start interviewing |
| 1:55.3 | again and taking money out of your brokerage account or your 401k when you're in a financial |
| 2:01.4 | pickle Nicole's on standby. We're ready to answer those questions soon but first our home through |
| 2:06.8 | your anniversary of closing on our house in New Jersey congrats to us. It was one of the most |
| 2:11.8 | daring things I've done. It's the biggest financial decision we've made in our lives. It's one |
| 2:16.8 | of the biggest personal moves and I love this story of how we got here because fear got us to |
| 2:22.8 | this home. It's a story for the books and yes it's in a healthy state of panic because we Tim and I |
... |
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