So Money with Farnoosh Torabi

Today’s guest is no stranger to reinvention—or to messiness. Maryam Banikarim [https://www.maryambnyc.com/maryam-banikarim-bio] is a powerhouse C-suite executive turned podcast host whose résumé reads like a tour through media, hospitality, tech, and purpose-driven leadership. She’s served as Global CMO at companies like Hyatt, Gannett, and Nextdoor. But in her latest chapter, Maryam is pulling back the curtain on the glossy LinkedIn life and telling the truth, the messy, nonlinear, sometimes gut-wrenching truth, about what it really takes to build a career, a family, and a sense of self. Her new podcast, The Messy Parts, [https://www.themessypartspodcast.com/] is a must-listen for anyone navigating personal and professional pivots. It’s raw, wise, and often hilarious, featuring guests like SNL alum Ana Gasteyer, Broadway composer Tom Kitt, and billion-dollar founders Cass and Mike Lazerow. In our conversation, Maryam and I talk about everything from career burnout to billion-dollar regret, the emotional toll of job loss, the value of taking a pause, and why being honest about your struggles is the key to building true community. She also shares why she believes now is the exact right time to have these conversations—and why you don’t have to be “perfect” to be successful.

This week: Topics covered include the financial implications of divorce, starting an investment account for children, addressing a toxic workplace, and planning for a new business venture. Farnoosh also discusses a concerning trend on TikTok about 'stay at home girlfriends' and provides practical advice on managing personal finances and investments effectively. Additional discussions include tips for college students to gain an edge in their fields and the decision-making process behind forming a business entity.

Today’s guest has long been a trusted voice in the world of smart shopping and consumer advice, and now she’s turning her attention—and resources—to a new mission: empowering midlife entrepreneurs. Trae Bodge [https://truetrae.com]is a journalist, television commentator, and consumer expert who’s helped millions save at the checkout. However, after the passing of her mother in 2023, Trae felt compelled to do something more profound and personal. In this episode, we discuss her newest venture, the Threadneedle Alley Foundation [http://www.threadneedlealley.org], a nonprofit she recently launched to provide $5,000 grants and mentorship to midlife entrepreneurs facing financial hardship. The organization is named after the street where her mother ran a beloved small business for decades, and this work is Trae’s way of honoring that legacy while addressing a gap she’s long observed in her professional life: great small business ideas without the resources or support to thrive. We explore why midlife is often the perfect time to launch a business, the biggest misconceptions around starting over at 40 or 50, and how we can all think more creatively and fearlessly about what’s next. Trae also shares some Prime Day shopping tips [https://truetrae.com/amazon-prime-day/] and how to make sure you’re not getting duped by false “deals.” Whether you’re dreaming up your second act or just trying to save a little money this week, there’s something for you in this conversation.

Dr. Daniel Crosby is a psychologist, behavioral finance expert, and New York Times bestselling author. His works, The Laws of Wealth and The Behavioral Investor have transformed how we think about investing by shedding light on the emotional and cognitive biases that often shape our financial behavior. He also serves as Chief Behavioral Officer at Orion Advisor Solutions [https://orion.com/thought-leader/daniel-crosby], guiding advisors in helping clients align their investments with what matters to them. Today, Daniel is here to discuss his latest book, The Soul of Wealth: 50 Reflections on Money and Meaning. [https://www.amazon.com/Soul-Wealth-reflections-money-meaning/dp/1804090441] This book challenges the conventional approach to wealth by diving into its emotional dimensions. It explores how financial well-being is not just about accumulation but also about aligning money with personal values and meaning. Daniel encourages us to reflect deeply on what it means to live a wealthy life—not just financially but emotionally and spiritually.

It’s July 4th—a day for fireworks and freedom—but this year, we’re confronting a very different kind of spark. In this special holiday episode, Farnoosh breaks down the controversial “Big Beautiful Bill,” passed by the House. The sweeping legislation includes massive tax cuts for the wealthy and deep spending cuts to public services like health care and education. Farnoosh explains who stands to gain—and who could lose access to critical benefits, from Medicaid to special education funding. Then, it’s time for the mailbag! Farnoosh answers your money questions, including: * With markets at record highs and a rate cut on the horizon, where should you put your money? (Hint: It depends on your timeline—rainy-day fund, short-term goals, or retirement.) * How to tackle credit cards with high balances, even in a rising interest rate environment. * What are medical billing advocates—and how can they help you lower your health care bills?