1947: Ask Farnoosh: Tax Season Moves, Optimal Rainy Day Funds, Traditional or Roth IRA?

So Money with Farnoosh Torabi

Farnoosh Torabi

Business, Entrepreneurship

4.7 • 2K Ratings

🗓️ 20 February 2026

⏱️ 26 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Farnoosh reflects on her appearance on the TODAY Show, where she shared practical strategies to maximize your finances during tax season — from last-minute IRA contributions and new tax deductions to choosing the smartest way to file and setting yourself up for next year.

She also discusses the latest money headlines, including the Supreme Court’s decision on sweeping tariffs and what it could mean for small businesses and markets.

Then, it’s time for your questions. Farnoosh breaks down:

• How much you really need in emergency savings in today’s job market

• What to do after contributing to your 401(k) — should you open a Roth IRA?

• How income limits affect Roth contributions and what a Backdoor Roth really means

• Ways to set your children up for financial success beyond just a 529 plan

Plus, Farnoosh shares details about her Build a Profitable Podcast mentorship program, kicking off soon with only a few spots remaining. Apply here.

Learn more about Farnoosh's upcoming literary workshop Book to Brand. Early bird registration is now open!

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Transcript

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0:00.0	So Money episode 1947 Ask Farnoosh.
0:04.3	You're listening to So Money with award-winning money guru Farnoosh Torabi.
0:09.2	Each day, get a 30-minute dose of financial inspiration from the world's top business minds,
0:14.4	authors, influencers, and from Farnoose yourself.
0:18.6	Looking for ways to save on gas or double your double coupons.
0:22.2	Sorry.
0:23.1	You're in the wrong place.
0:24.5	Seeking profound ways to live a richer, happier life.
0:27.8	Welcome to So Money.
0:30.8	Welcome to So Money, everybody.
0:32.6	Ask Farnoche Friday.
0:33.9	I'm Farnoche.
0:34.9	It is February 20th.
0:37.0	And today's episode, I was writing it out. And it's
0:40.8	kind of layered in a way that I wasn't anticipating. We're going to get into all sorts of
0:45.0	things like tax strategies, headlines, your questions. I want to begin, though, with something
0:50.3	exciting and really meaningful to me. It's my show after all. I'm going to take a little bit of
0:55.4	time to talk about this. You know, earlier this month, I taught a free webinar on how to make money
1:03.5	with your podcast. And I've done this many times over, not just with So Money, but also my new show,
1:09.6	The Monclair Pod, which has a fraction of the audience
1:12.6	that So Money has, as you would imagine. It's a local show that's dedicated to the town of
1:18.6	Montclair. And over 200 people signed up. And it got me and my co-founder, Mike Schreiber,
	...

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