So Money - Episode 48

Ask Farnoosh

Farnoosh Torabi

In the latest installment of Ask Farnoosh, I answer your questions related to paying off a mortgage, managing money in a relationship, retirement savings and managing a windfall. Questions listed below.

And congrats to Bill for winning this week’s 15 minute money session giveaway. Here’s his review:

“Farnoosh has an engaging, non-judgmental approach delivered in a high quality format. Her comfortable interviewing style consistently draws thoughtful responses and insights from her guests. A recurring topic with her guests involves money memories from childhood – that always elicits interesting stories and provides healthy food for thought for any parent raising kids. Check it out.”


Which is better? Paying off a 3.87% mortgage or otherwise using the cash to invest in something paying more percentage wise?


My boyfriend and I have plans to live together within 6 months in NYC. I have a well-paid full time corporate job and he is starting a PhD program that will last about 5 years with a stipend that is significantly less than my salary. How should we split up the bills? Is there a benefit to entering a domestic partnership? Thanks!


I am worried. I am 59 have $100,000 save for retirement due to being a single parent. I am now saving 12 percent of my salary which is $73K per yr.  My company has a 5 percent match. I would like to retire at 66 or 68 what do I need to do to make this possible ?


At the MOST basic level, where/how should I begin to invest?


I’m 44, Just found out I have 25k pension from job I was laid-off from in 2002. They’re offering me to rollover, cash out or leave it. I have about $11k cc debt, 1/2 of which is at 24.99% interest! I think I should  rollover some and use some to pay off that debt. What do you think?


Join thousands of ambitious people like you.

Take part in Farnoosh’s thriving personal finance community and receive her ebook, So Money® SECRETS, for free.