This week on Ask Farnoosh, I'm reflecting on a memorable visit to the Today Show with my daughter, Colette, and how exposing kids to new experiences can shape their futures. That conversation leads into one of the smartest long-term wealth-building strategies available to parents: putting your child on payroll—legitimately—and using earned income to fund a Roth IRA.I also unpack fascinating new research linking chronic financial hardship to long-term brain health, discuss <a href="https://www.kim.senate.gov/press_release/senator-kim-introduces-landmark-medikids-legislation-to-guarantee-healthcare-for-all-children/" rel="noopener noreferrer" target="_blank">Senator Andy Kim's proposed Healthy Kids Act</a>, explore why modern baby registries are shifting from "stuff" to services, and share lessons from a Washington Post column on what people consistently misunderstand about retirement.Then, in this week's listener question, I help a family navigate an emotionally complicated financial crossroads: a potential $500,000–$800,000 inheritance, a home renovation, IVF, a recent layoff, and the challenge of deciding which priorities deserve the biggest investment. Together, we explore why the most valuable outcome isn't simply growing wealth—it's creating more choices.Referenced: <a href="https://podcasts.apple.com/us/podcast/so-money-with-farnoosh-torabi/id955939085?i=1000756828487" rel="noopener noreferrer" target="_blank">Senator Andy Kim on So Money.</a>Learn more about Farnoosh's upcoming literary workshop <a href="http://booktobrand.co" rel="noopener noreferrer" target="_blank">Book to Brand.</a> Early bird registration is now open!

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2013: Ask Farnoosh: Raising Wealthy Kids, Rethinking Retirement & A $700K Inheritance

So Money with Farnoosh Torabi

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