1992: Ask Farnoosh: Angel Investing, Saving for a Downpayment and What to Do When She Makes Less

**Farnoosh Torabi** (0:00)
Hey friends, if you've been sitting on a book idea and wondering could this actually become something, this is your moment. Join me in New York City on October 9th for Book to Brand. This is my intimate full-day immersive designed to help you turn your idea into a clear, compelling, pitch-ready book concept. You will meet the insiders, agents, publishers, and recent authors who can help bring your book to life. Spots are limited and early bird tickets are on sale now. Head to booktobrand.co to reserve your spot.
So Money Episode 1992, Ask Farnoosh.

**SPEAKER_2** (0:34)
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.

**Farnoosh Torabi** (1:00)
Welcome to So Money, everybody. I'm Farnoosh. It's Friday, June 5th, 2026, and a big day for the job market. The Labor Department this morning released May's employment numbers, and turns out America was hiring aggressively last month. The New York Times writes that it's a sign that the labor market is on a genuine upswing after last year's lull.
172,000 jobs added to the economy last month, and the unemployment rate stayed steady at 4.3%.
So this is great news for the economy, at least looking at these May numbers. And Bill Adams, who's a chief economist at Fifth Third Commercial Bank, tells the New York Times that if job growth holds at this stronger pace, the economy is heading for a lower unemployment rate and possibly labor shortages. Huh, interesting. But what industries we're hiring, right? This is my next question. Because we also know that, for example, if you're a software developer, you have one of the worst months, you've had one of the worst years for finding a job because of AI. And we know that we have the data now to prove that. But leading this boom in May was the leisure and hospitality industry. They added 70,000 jobs. Some of that may have to do with the World Cup. Cities all over the country are gearing up for millions and millions of tourists. Another industry which saw outstanding growth was health care, which has been steadily adding jobs over the past several years. In May, they added another 35,000 jobs. You know who else is hiring? This is interesting. Local government hiring up 55,000 jobs in May, and most of those jobs going to outside of education. So this report is something that the Federal Reserve, the Open Market Committee looks at very closely as it decides on the fate of interest rates. Looking at this report, you're seeing strength in the job market, and it may indicate that we don't have to lower interest rates. The economy is not cooling. People have jobs, people are going to be spending. If anything, this could lead to a surplus of money in the economy, in which case we would have to raise interest rates. I don't see that happening anytime soon, but this report doesn't really encourage the Fed to lower rates either. Of course, the White House is loving this jobs report. Stronger than expected, by the way. The expectation was just an anticipated payroll growth of 88,000. So this came in more than...
You know, what's also special about today, June 5th, is it's National Donut Day.
Yes. What's your favorite donut? My favorite donut is the Brooklyn Blackout from Donut Plant in Brooklyn, on Flatbush Avenue, which I have learned, you can also secure at certain places here in my New Jersey suburb. And for my local podcast, local news platform that I run called The Montclair Pod, I sent our intern out on a very important mission today, this morning. She is, as I record, she is taste testing no fewer than four different donuts at four different shops, and she'll be reporting back, hashtag local news. You're here to deliver and save democracy. But if you were looking for an excuse today to have a donut, you're welcome. But the dessert that's all the rage right now is not the donut. It is the dot cake.
The New York Times calls this the Internet's latest sensation. Have you seen this? Have you tried this? I want to get my hands on a dot cake. They hail from Dot Cakes, a bakery in Roslyn, New York, who created the baked good and sells it as well in this store in New York called Butterfield.
They go for about $8 a cup in Roslyn if you get it from Long Island and $11 if you buy it in the Manhattan store. The line, they say, starts as early as 6 a.m. It goes around the block. What is this? It's a cup, as the New York Times describes it, a simple confection. It's topped with frosting and nonpareils, sprinkles, exported from Long Island, as I mentioned.