1956: Ask Farnoosh: Roth 401(k) Strategy, Avoiding the Wrong Insurance, Paying for Childcare & FAFSA Tips
So Money with Farnoosh Torabi
Farnoosh Torabi
4.7 • 2K Ratings
🗓️ 13 March 2026
⏱️ 31 minutes
🧾️ Download transcript
Summary
This week on Ask Farnoosh, Farnoosh kicks things off with a behind-the-scenes look at a whirlwind week in journalism and media. She shares highlights from her recent interview with Senator Cory Booker about his bold new “Keep Your Pay Act” proposal, which would eliminate federal income tax on the first $75,000 of income, and discusses what that could mean for working Americans. She also reflects on being featured in Kiplinger’s latest issue on the best financial advice experts have ever received, sharing a career lesson that shaped her own path: learning to earn money not just from what you do, but from what you know. Plus, Farnoosh announces her upcoming free webinar on March 26 about how to land a big book deal (register using the link).
Then, a quick breakdown of the latest money headlines that matter for your wallet: mortgage rates climbing back above 6% and what that means for today’s “frozen” housing market, the widening K-shaped economy separating households that are thriving from those struggling with rising costs, and early signs that the once-hot job market may be cooling—along with why now is a good time for a financial check-up.
In the mailbag, Farnoosh tackles listener questions including:
• Should high earners prioritize Roth 401(k) contributions or diversify across other retirement strategies?
• What to watch out for when a financial advisor pushes variable universal life insurance instead of traditional investing.
• Creative ways families are making childcare and daycare costs more manageable.
• How a teenager’s part-time income and assets can affect FAFSA eligibility and college financial aid.
Learn more about Farnoosh's upcoming literary workshop Book to Brand. Early bird registration is now open!
Hosted on Acast. See acast.com/privacy for more information.
Transcript
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| 0:00.0 | So Money episode 1956, Ask Farnush. |
| 0:04.3 | You're listening to So Money with award-winning money guru Farnoosh Karabi. |
| 0:09.2 | Each day, get a 30-minute dose of financial inspiration from the world's top business minds, |
| 0:14.5 | authors, influencers, and from Farnoose yourself. |
| 0:18.5 | 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. |
| 0:27.9 | Welcome to So Money. |
| 0:30.8 | Welcome to So Money, everybody. |
| 0:32.4 | I'm Farnoose Tarabi. |
| 0:33.7 | And it's Friday Ask Farnoche Time. |
| 0:36.4 | Mailback topics today. Should high earners prioritize Roth 401k |
| 0:41.2 | contributions or diversify some more? We have concerns in the audience about being steered into a variable |
| 0:48.1 | universal life insurance plan. Does that make sense? And then how do we make child care and daycare costs |
| 0:53.9 | sustainable? What are some |
| 0:55.6 | creative arrangements? Also a question about part-time jobs when you're a teen and how that income |
| 1:01.8 | could affect your financial aid eligibility. But first, it's been a crazy week over here. One of those |
| 1:07.8 | weeks where you look back and you go, how did I get it all done? I was telling |
| 1:11.9 | somebody all the different things that I do during the week. And as I was speaking, I started |
| 1:17.2 | getting nervous for myself. I was like, this is not good. It's good that I'm performing at this |
| 1:23.6 | level and I have so much that I'm accomplishing every week. But man, it's a lot of work. |
... |
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