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

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 Senator Andy Kim's proposed Healthy Kids Act, 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: Senator Andy Kim on So Money.

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