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42 — How to Conquer FOMO with Financial Expert Farnoosh Torabi

October 2, 2023

About Farnoosh Torabi
 

Farnoosh Torabi is a bestselling financial author, former CNBC host, and the creator of the popular podcast “So Money.” She is considered one of the country’s favorite go-to money experts and has been working in the financial space for over 20 years.

 

Summary


Farnoosh Torabi joins the Mentally Stronger podcast to discuss her new book, “A Healthy State of Panic.” While Farnoosh is known for her expertise in the financial world, her book explores fear in various aspects of life. Farnoosh shares her personal experiences with fear and how she learned to embrace it as a tool for growth. 

 
She discusses the fear of missing out (FOMO) and how to navigate it, as well as the importance of setting boundaries. She also encourages listeners to question their fears and understand where they come from. Farnoosh provides practical strategies for managing fear and making decisions that align with your values and goals.

 

Key Takeaways:

 

  • Fear can be a powerful tool for growth and should be embraced rather than avoided.
  • When experiencing FOMO, ask yourself what feeling you are truly missing out on and find ways to fulfill that need.
  • It is important to define success on your own terms and not let societal expectations dictate your choices.
  • Question your fears and understand where they come from to gain clarity and make informed decisions.
  • Setting boundaries is crucial for maintaining happiness and fulfillment in life.

Notable Quotes:

“You can be afraid and awesome. You can be fearful and fulfilled. You can be scared and smart.” – Farnoosh Torabi

“Show me someone who is patient with their fears, who listens to them, and I will show you someone who knows their values.” – Farnoosh Torabi

“Boundaries are what create happiness.” – Farnoosh Torabi

Timestamp Summary

0:00:00 Introduction to Farnoosh Torabi

0:02:14 Farnoosh discusses her new book, “A Healthy State of Panic”

0:03:32 Farnoosh explains how fear plays a role in our lives beyond just money

0:05:41 Amy and Farnoosh discuss the importance of talking about money

0:08:12 Farnoosh shares her personal fear of making more money

0:10:23 Farnoosh’s conversation with a money coach about power

0:11:47 Farnoosh’s strategies for overcoming fear and making more money

0:12:37 Fear as a tool for personal growth

0:13:51 Being patient with fears and knowing oneself

0:14:39 Fear of missing out and making choices based on FOMO

0:15:09 How upbringing and fear of rejection shaped decisions

0:17:02 FOMO as a nudge to identify desired feelings

0:19:02 Creating unique experiences instead of following the crowd

0:21:28 Defining success and making sustainable choices

0:23:00 Asking the audience for input and market research

0:23:46 Investing in new trends and expressing curiosity

0:24:13 Balancing time and resources for optimal business growth

0:24:47 Amy discusses the trade-offs of becoming an AI expert.

0:25:13 Farnoosh talks about defining “enough” in work and money.

0:26:17 Farnoosh prefers working independently and values boundaries.

0:27:26 Amy and Farnoosh discuss saying no to social activities.

0:28:30 Farnoosh shares her experience with setting boundaries at the beach.

0:29:37 Setting boundaries can lead to positive experiences and self-discovery.

0:30:17 Farnoosh believes it gets easier to say no with age.

0:31:01 Communicating upfront can prevent offense when declining invitations.

0:31:34 Farnoosh explains how FOMO can be transferred from others.

0:33:57 Farnoosh shares where to find more information about her work.

0:35:44 Identify the emotion you’re missing out on when experiencing FOMO

0:36:15 FOMO may be a result of contagious fear from others

0:37:10 Reflect on the role fear plays in your life

0:37:42 Share the podcast with others to help them grow stronger

Connect with the Show

Email the show – Podcast@AmyMorinLCSW.com

Check out my books on mental strength

Follow Amy on Instagram – @AmyMorinAuthor

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