Farnoosh Torabi

We fear as parents sometimes and caregivers, raising our kids in such a way where the cycles get repeated, where maybe we grew up with a fear of scarcity and now we're bestowing that on our children or on the other end, giving them too much and then they don't appreciate it. Again, it's sort of what we all have, which is that lack of financial literacy.

I think it's like 60% of Americans didn't speak a word of money growing up. And as adults, that becomes a fear of its own that not only you're not going to have the sort of fluency and confidence around money, but that your kids who are watching you are also not going to be able to be strong in that department.

I think it's like 60% of Americans didn't speak a word of money growing up. And as adults, that becomes a fear of its own that not only you're not going to have the sort of fluency and confidence around money, but that your kids who are watching you are also not going to be able to be strong in that department.

I think it's like 60% of Americans didn't speak a word of money growing up. And as adults, that becomes a fear of its own that not only you're not going to have the sort of fluency and confidence around money, but that your kids who are watching you are also not going to be able to be strong in that department.

And then I think for those who are perhaps the boomers, my parents, this fear of dying without a real financial legacy, that's important culturally to Americans is to be able to die with a will to pass on some assets to the next generation. And again, I think part of it is like this fear of thinking about death and not doing the proper estate planning, exacerbates that.

And then I think for those who are perhaps the boomers, my parents, this fear of dying without a real financial legacy, that's important culturally to Americans is to be able to die with a will to pass on some assets to the next generation. And again, I think part of it is like this fear of thinking about death and not doing the proper estate planning, exacerbates that.

And then I think for those who are perhaps the boomers, my parents, this fear of dying without a real financial legacy, that's important culturally to Americans is to be able to die with a will to pass on some assets to the next generation. And again, I think part of it is like this fear of thinking about death and not doing the proper estate planning, exacerbates that.

So those are the five things. And I tried to pick the ones that kind of go through the generations. There was a recent study that actually found that millennials, Gen Y, they're the ones who are most afraid of running out of money.

So those are the five things. And I tried to pick the ones that kind of go through the generations. There was a recent study that actually found that millennials, Gen Y, they're the ones who are most afraid of running out of money.

So those are the five things. And I tried to pick the ones that kind of go through the generations. There was a recent study that actually found that millennials, Gen Y, they're the ones who are most afraid of running out of money.

Oh, yeah. I mean, that's why I often say before you get into the nitty gritty of your finances, you have to talk about how you grew up with money. It's so foundational to really understanding your partner.

Oh, yeah. I mean, that's why I often say before you get into the nitty gritty of your finances, you have to talk about how you grew up with money. It's so foundational to really understanding your partner.

Oh, yeah. I mean, that's why I often say before you get into the nitty gritty of your finances, you have to talk about how you grew up with money. It's so foundational to really understanding your partner.

And so when you see them, when you witness them being tight with money or overspending or not wanting to talk about money and not wanting to have that confrontation, you don't go, what's wrong with you? You go, oh my God, I understand where this is coming from. So let's unpack that.

And so when you see them, when you witness them being tight with money or overspending or not wanting to talk about money and not wanting to have that confrontation, you don't go, what's wrong with you? You go, oh my God, I understand where this is coming from. So let's unpack that.

And so when you see them, when you witness them being tight with money or overspending or not wanting to talk about money and not wanting to have that confrontation, you don't go, what's wrong with you? You go, oh my God, I understand where this is coming from. So let's unpack that.

Sometimes the exercise I often say is when you're experiencing a financial fear of any sort is to trace it to its root. Where did this fear come from? Is it even my fear? It may just be my parents' fear from the 1960s, from the 1970s latched onto me. Because yeah, growing up, there was scarcity and that was a scary time.

Sometimes the exercise I often say is when you're experiencing a financial fear of any sort is to trace it to its root. Where did this fear come from? Is it even my fear? It may just be my parents' fear from the 1960s, from the 1970s latched onto me. Because yeah, growing up, there was scarcity and that was a scary time.

Sometimes the exercise I often say is when you're experiencing a financial fear of any sort is to trace it to its root. Where did this fear come from? Is it even my fear? It may just be my parents' fear from the 1960s, from the 1970s latched onto me. Because yeah, growing up, there was scarcity and that was a scary time.

But that was also a time when I was nine and I didn't have agency and I didn't have control over what was happening with the money. And so my parents' fears became my fears. I inherited that and I never let go of it. And maybe even just maybe that helped me for a while as I got older, having that fear of losing money made me a super saver.