Ask Farnoosh: Whole Life Insurance, Smart Health Investments, and a PhD Job Hunt

Summary

So Money with Farnoosh Torabi: Episode Summary Episode Title: Ask Farnoosh: Whole Life Insurance, Smart Health Investments, and a PhD Job Hunt
Release Date: June 13, 2025

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In this insightful episode of So Money with Farnoosh Torabi, host Farnoosh delves into a trio of pressing financial questions from listeners, offering expert advice on whole life insurance, smart health investments, and navigating the job market with a PhD. The episode not only addresses these specific inquiries but also touches upon recent financial news, providing a comprehensive overview for listeners seeking to enhance their financial literacy and decision-making.

1. Recap of Recent Episodes and Current Financial News

Farnoosh begins by recapping notable past episodes, highlighting discussions with prominent figures like Pat Flynn and Dan Post. She emphasizes the importance of learning from diverse perspectives to build a robust financial strategy.

Transitioning into current financial news, Farnoosh discusses several key topics:

• Cryptocurrency Regulation:
  “Regulators under President Trump are taking a neutral position on crypto, which is a retreat from the Biden administration's more cautionary stance” ([06:30]). Farnoosh expresses skepticism about the role of cryptocurrency in retirement plans, advising listeners to limit such investments to a small portion (3-5%) of their portfolios due to the high risk and volatility associated with crypto assets.

• Early Social Security Claims:
  Highlighting a trend where more Americans are claiming Social Security benefits early, Farnoosh warns about the long-term financial implications. “For every year we let our Social Security benefits vest until age 70... the money grows on average about 8%” ([10:15]). She encourages listeners to consider delaying benefits to maximize their retirement income, provided they have sufficient financial resources.

• Strength of the U.S. Dollar:
  Farnoosh notes the dollar's decline to a three-year low, attributing it to expected lower interest rates, national debt concerns, and geopolitical tensions ([12:45]). She advises that while a weaker dollar may make imported goods more expensive, it could benefit exporters and those invested in international markets, underscoring the importance of a diversified investment portfolio.

• Increasing 401(k) Goals Achievement:
  Ending on a positive note, Farnoosh shares a Wall Street Journal report indicating that more Americans are reaching their 401(k) savings goals due to automatic contributions and favorable market conditions ([16:50]). She reinforces the power of automation and incremental increases in savings rates to achieve long-term financial security.

2. Listener Questions and Expert Insights

a. Navigating the Job Market with a PhD

A listener in their early 40s, recently earned their PhD, and is struggling to land a job seeks Farnoosh's advice. She offers a multifaceted approach:

• Clarify Career Goals:
  “Define what kind of work you want to be doing, who you want to be working for” ([17:20]). Whether academia, corporate, or nonprofit sectors, having clear objectives helps streamline the job search process.

• Leverage Networking:
  Farnoosh emphasizes the value of connections made during the PhD journey. “Lean on your classmates. I have a Master's in Journalism, and I’m still in touch with my classmates after 20 years” ([18:45]).

• Optimize Resume and LinkedIn Profiles:
  She advises highlighting the PhD as a unique and valuable asset, detailing research, teaching, and leadership experiences that showcase transferable skills.

• Engage with Headhunters and Job Coaches:
  Utilizing professional services can provide additional pathways and opportunities tailored to specialized degrees.

• Addressing Insecurities:
  Farnoosh acknowledges potential feelings of disconnection from the job market but reassures listeners of the transferable skills gained through advanced studies, such as critical thinking and project management.

b. Smart Health Investments on a Budget

When asked about cost-effective ways to invest in health, Farnoosh provides practical strategies:

• Preventative Care:
  Regular checkups and screenings can identify health issues early, potentially saving money and ensuring long-term well-being. “Make sure you do have health insurance. Early detection is key” ([19:30]).

• Prioritize Sleep:
  Emphasizing the immense benefits of sufficient sleep, Farnoosh shares a personal anecdote about the consequences of sleep deprivation. “Sleep is an incredibly free way to invest in yourself and your health” ([21:10]).

• Stress Management:
  She references the book “The Upside of Stress” to illustrate how understanding and managing stress can prevent burnout and improve overall health. Personal boundaries and seeking therapy when needed are crucial components of this strategy.

• Nutrition and Exercise:
  While not elaborated upon in detail, Farnoosh underscores the importance of a balanced diet and regular physical activity as foundational elements of health investment.

c. Whole Life Insurance and Tax Implications

A listener inquires about the tax responsibilities associated with withdrawing money from a whole life insurance policy, excluding death benefits. Farnoosh explains:

• Understanding Policy Structure:
  Whole life insurance includes both a death benefit and a cash value component. “Any withdrawals exceeding the total premiums paid may be subject to income tax” ([23:50]).

• Tax-Free Withdrawals:
  Withdrawals up to the amount of premiums paid are generally tax-free, but amounts beyond that threshold could incur taxes.

• Professional Advice Recommended:
  She emphasizes the importance of consulting with a tax professional or financial advisor due to the complexities and variations in individual policies.

Farnoosh expresses her general skepticism toward whole life insurance for most people, advocating instead for more affordable term life insurance unless specific financial strategies necessitate whole life policies.

d. Investing in Your 60s: Is It Too Late?

Addressing concerns from a 65-year-old listener about starting to invest later in life, Farnoosh provides a balanced perspective:

• It's Never Too Late to Start:
  “It's never too 'quote unquote' late to start investing” ([25:20]). However, she advises a cautious and strategic approach tailored to the listener’s current life stage.

• Focus on Safety and Stability:
  Prioritize preserving wealth over seeking high returns. A diversified portfolio with a significant allocation to bonds and other stable investments is recommended. “Think of stocks as playing a supporting role” ([26:00]).

• Asset Allocation Strategy:
  Utilizing the formula 110 minus your age to determine stock allocation, Farnoosh suggests that a 65-year-old should have approximately 35% in stocks and 65% in bonds ([26:15]).

• Dividend-Paying Stocks and Index Funds:
  For the stock portion, she recommends dividend-paying blue-chip stocks or low-cost index funds to ensure stability and income generation.

• Seeking Professional Guidance:
  Farnoosh advocates for hiring a financial advisor, especially for those who may feel overwhelmed by managing their investments alone. Advisors can also assist with comprehensive retirement planning, including healthcare, downsizing, and estate planning.

3. Building a Financial Community

Towards the end of the episode, Farnoosh promotes the So Money Members Club, an exclusive community for listeners to engage, share challenges, and receive personalized financial advice. She highlights the benefits of live workshops, office hours, and direct access to her expertise, fostering a supportive environment for financial growth.

Conclusion

In this episode, Farnoosh Torabi effectively addresses complex financial questions with clarity and empathy, offering actionable advice tailored to diverse life stages and circumstances. Whether you're navigating the competitive job market with an advanced degree, seeking affordable ways to invest in your health, contemplating life insurance options, or considering starting to invest later in life, Farnoosh provides valuable insights to empower your financial decisions. Her emphasis on clarity, networking, professional guidance, and community support underscores the multifaceted approach needed to achieve financial well-being.

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Note: The timestamps provided in quotes correspond to the approximate moments in the transcript where the advice and discussions occur.

Transcript

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[Chef]

Episode 1839 Ask Farnoosh.

[Farnoosh Torabi]

You're listening to so Money with award winning money guru Farnoosh Torabi. Each day, get a 30 minute dose of financial inspiration from the world's top business minds, authors, influencers and from Farnoosh yourself. Looking for ways to save on gas or double your double coupons. Sorry, you're in the wrong place. Seeking profound ways to live a richer, happier Life. Welcome to so Money.

[Chef]

Welcome to so Money, everyone. Friday AskFar Newsh Time. It is Friday, June 13th, Friday the 13th, and we are going to be answering your biggest, boldest money questions.

[Farnoosh Torabi]

Money and life questions.

[Chef]

I'm so glad you're here. Coming up in the mailbag today, is whole life insurance ever really worth it? Some smart ways to invest in your health, especially when you're on a budget. And for my fellow overachievers, a question in the audience about what to do when your PhD isn't really helping you land a job. Or at least it doesn't seem like it is. We'll get to those questions in just a bit, but first, let's catch up.

[Farnoosh Torabi]

If you missed any of the shows.

[Chef]

This week, please go back and hit download right now because you don't want to miss out on the inspiration and the strategies and the advice. On Wednesday, I welcomed back Pat Flynn, who is a longtime entrepreneur and the author of a new book called Lean Learning. He's all about how we can consume less information to become better experts and more successful. It's kind of counterintuitive, right? Because we believe that more knowledge is better, more knowledge is more empowering. But is it always? We talk about how to navigate the age of artificial intelligence and information overload and his theory on why learning less might be the key to Achie achieving more. On Monday, we had a very fun and I think surprising in some ways, conversation about money manners. I learned a lot during this episode with none other than Dan Post. He is the great, great, great grandson of Emily Post of the famed Emily Post Institute, the authority on etiquette in our country. We talk about the do's and don'ts of tipping, splitting dinner bills, talking about money with your colleagues, talking about money with your partner and how etiquette, especially around money, has evolved over the decades. Before we get to the mailbag, I want to talk about some of the news that's been catching my eye recently that I think would be interesting for all of us to think about. Four headlines from the last couple of weeks that have stood out in the world of money, politics and the economy. They all intersect and what they mean for us. So the first one, regulators under President Trump are taking a neutral position on crypto, which is a retreat from from the Biden administration's more cautionary stance, which I have to side with. I don't think that crypto has any role in a retirement plan. I don't have crypto in my retirement account. I do own a blockchain ETF that tracks companies that are investing in the blockchain a very, very, very small amount of my overall investment portfolio. I think if you want to invest in these alternatives, 3 to 5% of your overall investing dollars, that's fine. But you have to assume that potentially never going to return anything meaningful, it could all go down the toilet. But if you want to have a little bit of fun, you're curious, you want to gamble, fine, carve that out. But I don't want to gamble in my retirement account. And while they're not saying that they're pro crypto, they're taking a neutral position. Now, according to the Trump administration, their reason for doing this, the reason for taking the neutral stance, is because they believe that it was an overreach from the Biden administration to get involved with fiduciaries and their investment decisions that that should left up to the fiduciaries, not D.C. bureaucrats. Quoting here, Lori Chavez, Dreamer, who's the labor secretary. But let's also put this in context, right? The Trump administration has been very zealous about crypto. President Trump and his family have several dealings in the market, which raises ethical concerns. And this is unprecedented, by the way, in presidential history, again according to the New York Times. So why is this important? What does it mean for us? Well, one, it's important because I for one would like to know from my plan manager, if I had a plan manager, are you investing any of my money in crypto? And if you are, I don't want that to happen. So we have to be a little bit more proactive. If you don't want this in your portfolio and you're with a fiduciary, you need to ask them. And really, they need to be transparent. I mean, the law is they have to tell you and they have to act in your best interest. So good news, crypto hasn't really been like a safe haven, Right. And so it hasn't lived up to some of the hype that marketers have used to describe this sector as, you know, quote unquote, a diversifier, a currency hedge, inflation hedge. The article quotes an analyst saying that that hasn't quite lived up to those billings. So at the end of the day, retirement plan managers are interested in profit, right? They want to make money. They want to make money for you and they want to make money for themselves. And so they're probably not, at least not right away, going to be aggressively getting into the crypto market or even a little bit getting into the crypto market. They tend to be more conservative than that. But neverthele does raise alarm bells for me as somebody who cares about financial transparency in the industry. Too much risk taking in the industry for things like our retirement plans, which, yes, risk is healthy and we need to have some risk in the fold. But crypto, Come on, ladies and gentlemen. Actually, stay tuned for Monday's episode because I'm going to be talking to Barry Ritholtz, who's a longtime Wall street investor and he has a new book out on all the mistakes we make with our money and we get into crypto and he calls that a mistake. And he's one to listen to. He's a contrarian and he's been right on many things, including the subprime mortgage debacle. He saw that before a lot of us did. Also interesting, I was reading about how more Americans are rushing to claim Social Security early. Why are they doing this? Well, according to npr, for a variety of reasons. One, anxiety over possible future cuts to the program. People are feeling also financially squeezed right now. They really need the money. But as we know we've talked about on this show, claiming your Social Security benefits early can reduce your benefits for life. So I get the fear. But if you don't have to withdraw your Social Security, you have other resources available to you, financial resources. Then make sure you're not shortcutting yourself. For every year we let our Social Security benefits vest until age 70, which is the maximum year before you have to start withdrawing on Social Security, the money grows on average about 8%. That's a lot considering technically you can start withdrawing around age 62. So that's eight years of additional compounding interest. It's a big difference. Next, I was reading that the dollar is sliding fast. I was noticing this when I was traveling in France about a month ago. It was almost one to one back then, although the euro was stronger. But the dollar has now fallen to a three year low according to Yahoo. Finance. And this is because of the expectation that we're gon lower interest rates this year. We have probably going to have ballooning national debt if this Republican budget bill gets passed. And of course, we have ongoing geopolitical tensions. So what does this mean for us? Well, in the short term, a weaker dollar means imported goods may get more expensive, more expensive than they already are. Given that some things are already baking in tariffs, clothing, electronics, even that morning coffee, because those beans typically get imported, traveling abroad could also cost more. On the flip side, a softer dollar can be good news for those of us who export. For those of us investing in international stocks. So that's why it's good to be diversified. I hope that within your portfolio, wherever you're investing, that you're broadly investing. And being in the s and P500 also means you have international exposure. So the advice isn't to go and get international stocks, is just make sure that you're broadly invested in the US And I'm going to end with some good news here. More Americans are reaching their 401k goals. This is in the Wall Street Journal. So ending here on a positive note, a new Wall Street Journal report finds that a growing number of people are hitting their retirement savings targets. And that's because we're doing so automatically. We're contributing automatically. And also the market's been going up over the last decade, so that helps. Gotta love this news. I don't have anything really to add to this other than wow, fantastic. Keep up the good work. And if you've ever been feeling behind on retirement, it's never too late. Increase your contributions, grab that company match and automate, automate, automate your investing. Even small increases can compound meaningfully over time. Starting with a small percentage today, but committing to increasing that by 1% every year with every raise and eventually you'll be at this average. I think they said it was like a 14%. I didn't mention that line. It was about 14% of your salary being contributed annually on average to the 401k. I have to believe that includes a match. So that's great news. And one last thing I'll say before we hit the mailbag. If you've been looking for financial community this year to hang out with people who are like minded, care about their finances, whatever life stage you're at, whether it's midlife, early on, close to retirement, my so Money members club is this wonderful intimate community where we are helping each other out with our financial challenges. I host live monthly workshops, live office hours where you can come in face to face and ask me your money questions. You can also put your camera off if you want. No pressure there. But the point is is I am accessible to you beyond this podcast through this community. It's tight knit. Sometimes I'm finding myself DMing our members late at night when they're in the middle of a crisis. They're about to buy a house, they're about to talk to their boss tomorrow about a raise and if I'm doing a load of laundry and my phone buzzes, guess what? You and I were having a chat at 11pm that's that has happened. You can learn [e-mail] this month, we're gonna be talking about the sandwich generation. A lot of us in our community who are responsible for dependents and also aging parents, not to mention our own financial wellbeing. It's a lot. All right, let's hit the mailbag. A question from someone in the audience who's just earned their PhD, which, by the way, is quite a few of you. When I surveyed you towards the end of last year, I asked about your academic background, and I think about 10 of you have PhDs. We have a very fancy audience. This person is now entering the job market and has maybe some concerns, which I don't know why. I would think that with a PhD, you're highly qualifiable. But also, at the same time, it's probably a very competitive landscape. Like, my father has a PhD in physics, and it's a very specific type of physics. And I know that for him, when he got laid off in his early 60s, it was rather difficult to go back and find a similar job that paid a similar salary, that had a similar role. There are only so many people at his level and so many employers that wanna employ people at that level. And so he had to pivot a little bit. He's fine now. You can actually listen to that episode on so Money. Adam Turabi. You can Google it. And so now our friend here in the audience, not in their 60s, in their early 40s, with a PhD, wondering if I have any tips for how to navigate the job market. So, number one, if you haven't done this already, it's really important to clarify your goals, really define what kind of work you wanna be doing, who you want to be working for. Because with a PhD, you could very easily. Well, maybe not easily, but you could. A very viable path is to go work in academia. You could teach. You could become a professor. I know those jobs are very competitive, but if that's what you have your eyes set on, that's one option. Then there are options in the corporate and nonprofit world, right? And so really making sure that you are clear on which path you want to take. And yes, you can pursue multiple paths, but. But there's probably one path that you're more excited about, you're more passionate about. I would suggest that you start there, if you haven't Already, update your LinkedIn, your resume. Your PhD is really special, and I want that to be highlighted. And I think that's really. It's a standout in. In this Job market, detail your PhD research and other relevant experiences if you were a teacher during your time during the program, that's also very applicable to the job market. Leadership skills there and then networking. Your university, wherever you got your PhD hopefully has a built in network. Your classmates are huge resources for you. I know I don't have a PhD, but I have a Master's in Journalism. To this day I'm very much in touch with my classmates and to this day we very much help each other out. Even now, 20 years later, I can't believe it. So lean on your classmates. And then I would also reach out to headhunters and maybe even a job coach, but definitely a headhunter. Again, you have something special. You have a very special degree. You are an expert and you should get paid for that. And there should be some competition. You should have multiple bids. I would be very, very excited if I were you. I'm only here to cheer you on. I'm very excited for you. And one last thing I want to say about people who whether you have a PhD or a master's or you have a double A major and you spent a lot of time in higher ed and now you're just emerging back into the job market, there may be a part of you that's feeling disconnected, wondering if people are going to judge you because you haven't been in the job market for a while. Like being in the academic world and the theoretic world, that might be a little bit of an insecurity. I definitely had that when I got out of graduate school. But there are so many transferable skills that you have. Again as a PhD candidate, there's incredible research, you've built up, this expertise, you've worked with probably a small team, you've perhaps taught and you have taken an idea from start to fin right with your thesis. That again shows a lot of hard work and dedication and willing to take risks, a willing to experiment. You're a critical thinker. These are highly valuable skills, traits to include on your LinkedIn in your resume. When you're talking to a job, make sure you highlight all of that and good luck to you. Hey, so many friends.

[Farnoosh Torabi]

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[Farnoosh Torabi]

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[Chef]

All right, next up, a question about the best ways to invest in our health. What are some things that we can buy, we can do, we can invest in for longevity for mental health and wellbeing? Well, one is preventative care. Regular checkups and screenings to see if you have any health issues early on. Make sure you do have health insurance. I mean that is the, I think number one way to invest in your health to have access to medical professionals and care. Early detection. Taking care of issues today not only a lifesaver, but saves you significant amount of money in the long run. And then we know the benefits of sleep. We talked about this earlier, but a consistent sleep routine, a comfortable sleep environment, this impacts both your physical and your mental well being. I think back to the days when I was a new parent and not sleeping in the middle of the night. I mean it is real. Sleep deprivation is a real thing. It's dangerous. I have a friend who's now disabled because he didn't get enough sleep one night and it was actually a pattern. Several nights, several weeks worth of bad sleep sleep. Got into a car accident and almost died. Father of five and this is something that has never escaped me, that reminder of how important it is to rest. And so I take those naps if I'm short on sleep. It doesn't replace my evening sleep, but it's something and it helps me to feel more revived and more focused. And by the way, when you are more alert, when you are more awake and in tune with your body and with your mind, you make better decisions. It's not about just not operating heavy machinery. It's also about when you're operating your finances and your Relationships and also treating yourself like having sleep. It is an incredibly free way to invest in yourself and in your health. Now I know time is not free and so maybe you're thinking, well, sleep is not free, but you gotta prioritize your sleep. You just have to. And you know, the list goes on. Nutrition, exercise, seeing a therapist if that's what you need. All of this stuff, it does matter. But I think one thing that we've talked about a lot on so money is the burnout factor. And so when you're at work and you're stressed, stress is a killer. There's a great book I read called the Upside of Stress. So if you're stressed, how to work with your stress or how to interpret your stress to figure out what it is that you need. And stress manifests in many different ways for people. For me, when I was completely stressed out one year because I was launching a side business and I've talked about it on the show, right? It was called she Stacks. Stacks House was our financial museum in la. We launched the thing, but it was financial. So stressful and production wise, so stressful. But I started to get an itchy scalp. I couldn't sleep, I was having breathing problems. It was manifesting physically in my body. And when that project went away, I started sleeping better. And it continued to haunt me though because we had debt. But at least the project was done. And then I saw my body improve, I saw my health improve, I saw my relationships actually improve, improve with my partner and with my kids. It was a time. So my friend, investing in your health, it starts with things that don't cost any money. Creating boundaries. I think that's what I learned about my time on that project was I just didn't have any boundaries. I was doing everything. I was just working 24 7, stressed all the time. I wasn't talking about it with anybody, so probably could have used a therapist at the time I wasn't sleeping. Which we've just discussed the benefits of and, and healthcare is really important. It's not something that unfortunately is a given in our country, but to the extent that you can afford even a basic healthcare plan, invest in a basic healthcare plan that gets you access to trustworthy doctors and a medical community because they are the people that are going to be at the front line of seeing the signs potentially before you do. So those routine checkups, those regular mammograms, all of that so, so important we know is what can prevent health failure down the road. Next question. Do you have to pay taxes if you get money from a whole life insurance policy and not a death benefit. So I looked this up. I don't have a whole life insurance policy on purpose. I don't really believe in them for most people. I think most people just need permanent or term life insurance. It's much cheaper. It expires, of course, after a term. But a whole life insurance policy is very expensive to maintain pain. It's a complex product, lot of fees, most people don't need them. But this person apparently has access to one and wants to know if they start making withdrawals, what does that mean from a tax perspective? So the taxation of funds from a whole life insurance policy, it really depends on what kind of withdrawal you're doing. Now this person said this is not a death benefit withdrawal. So death benefit withdrawal are paid out to the beneficiaries upon a person's death and that is typically not subject to income tax. So this person already knows this. But just to reiterate, it sounds like more of a cash value withdrawal. So a whole life insurance policy, there's a death benefit, then there's this cash value. If you withdraw the cash from the policy's cash value, the amount that you're going to receive, it might be tax free up to the total amount of the monthly premiums or the annual premiums that you have paid into the policy. Any withdrawals exceeding the total premiums paid may be subject to income tax. But this is something that I would highly recommend you talk to a tax professional or a financial advisor or both for their take. All these policies are very different, they're unique and might have their own nuances. That is what I've discovered and I hope that is helpful to you, my friend in the audience, to round us out here, a question about investing later in life, specifically in your 60s. Our question is, Farnoosh, is it too late to start investing? I'm 65 years old, so I don't think it's ever too quote unquote late to start investing. But we have to be realistic with where we are in our life stage and the fact that investing, investing is risky, inherently risky. So we need to be careful about how we actually go about doing this. Firstly, in your 60s, I think your priority is not trying to get the highest rate of return on all your money. It's that you want safety and stability. You want to preserve your wealth and ensure that whatever you have saved continues to grow steadily, not necessarily with, again, the highest return. So aggressively, stocks can still play a role in your portfolio. But I don't think they should dominate. And for those of us in our 60s, a balanced approach is best. And that means a larger focus on safer investments like bonds. Like certificates of deposit and cash reserves. Bonds are your friend in your 60s and beyond. Bonds provide stability, predictable income. So for my audience members who are interested in bonds, I would look into treasury bonds, bonds, municipal bonds, or high quality corporate bonds. Bonds are not no risk. But if you buy through the government, if you buy treasury bonds, they are backed by the federal government and even high quality corporate bonds, they get rated. It's not zero risk, but it's more stable, more reliable than investing in that company's stock. And if you want to keep it really simple and you want to get into the bond market action, simply purchasing a bond market index fund or a bond exchange traded fund is a great way to get access to the bonds, to the bond market in a diversified way and in a low fee cost way. As for stocks, again, think of stocks as playing a supporting role. You don't have to abandon stocks entirely, but I would keep them to about 30 to 40% of your portfolio. How did I get to that number? You take 110 and you subtract your age. That number that remains is a percentage that is the sort of recommended stock allocation in your portfolio. So 110 -65, which is the age of our audience member. That's 35, so 35% roughly in stocks, and the other 65% of your portfolio in bonds. And even within the stocks that you're investing in, I would focus on still as safe as possible safer options like dividend paying blue chip stock stocks or low cost index funds that track the broader market. And what are dividend stocks? Well, dividends are a type of payment that's used by companies to share profits with their shareholders. They're paid out usually monthly or quarterly or sometimes on an annual basis. And it's just one way for investors to get a return from their investment as they're investing. And here again, you can get a fund that invests in dividend stocks like an index fund or an exchange traded fund. And that way you get a lot more exposure and more diversification. In your 60s, I also don't think it's too late to hire a financial advisor if you're not confident managing your money yourself. And in your 60s, it's not just your investment portfolio now that you're trying to maybe construct or deconstruct, it's also your healthcare. It's the potential downsizing and relocating. And sometimes there are tax implications when you move and sell assets. And so working with someone who is well versed in all of this, working with a financial planner that specializes in working with people in their retirement phase or nearing retirement phase to get their ducks in a row. Do you have an estate plan? That wouldn't be a financial advisor's role, but the financial advisor can connect you a good one. Can it connect you to a tax specialist, an estate planner, and then as a team helping you transition into this next phase of your life? All right, my friends, thank you so much for your questions this week. Keep them coming. You can email me [e-mail] you can go to our [e-mail] and click on Ask Farnoosh Instagram. DMs are open. If you like what you're hearing, please leave a review and I would love for you to hit that subscribe button. So, so important. I'll see you back here on Monday, Thanksgiving week. In the meantime, I hope your weekend is so much money. And that's our show everybody for this Friday. Thanks for tuning in Monday. Stay tuned because we're going to be talking to the one and only Barry Ritholtz, who is a longtime Wall street investor contrarian and he's got a new book out called how not to Invest. Until then, I hope your weekend is so Money.

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