Ask some Wall Street veterans where they were on October 19, 1987 and they will likely regale you with details of any crisis. My life changed that day in ways that often creep up on me. Indeed, Black Monday was the single worst day in Wall Street history, with the Dow Jones Industrial Average plunging by more than 22 percent in one session--that’s the equivalent of the blue chip index diving by more than 5,000 points today.

It was a “First Class Catastrophe”, according to our first class guest and storyteller supreme, Diana Henriques, who dropped by the studio to help us retrace the events that led up to that day.

Diana joined us on the podcast earlier this year when her book, The Wizard of Lies: Bernie Madoff and the Death of Trust, was made into an HBO movie. This time around Diana is joining us to discuss her latest book, A First-Class Catastrophe: The Road to Black Monday, the Worst Day in Wall Street History. As Diana recounts, Black Monday was more than seven years in the making and threatened nearly every U.S. financial institution.

There were missed opportunities, market delusions, and destructive actions that stretched from the “silver crisis” of 1980 to turf battles in Washington and a rivalry between the New York Stock Exchange and the Chicago Mercantile Exchange.

Here’s the crazy thing...you’d think that after Black Monday, lessons would be learned. But in her analysis, Henriques demonstrates how that Monday in the fall of 1987 was the predicate to the financial crisis of 2008. Sadly, investors, regulators, and bankers failed to heed the lessons of 1987, even as the same patterns resurfaced.

This was a fascinating interview for me because I lived through this period. I had just started my career on Wall Street, as the chaos was unfolding. I watched firsthand as my father nearly lost his business. This chat was like going down memory lane and it’ll give you guys a good glimpse of the life I used to live before I started hosting podcasts and radio shows!

“Better Off” is sponsored by Betterment.

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"Better Off" theme music is by Joel Goodman, www.joelgoodman.com.

So often on this podcast, and on my radio show, we field questions from recent grads with insane amounts of student loan debt. Sometimes it’s enough debt to wreck a life.

There’s enough blame to go around, but so often it’s a case of students feeling the pressure to go to fancy, high priced colleges to study what seems like an obscure major. But before you think that I am about to argue that every able-bodied student should be studying for a degree in a STEM (science, technology, engineering, mathematics) field, read on...

Let me pose a question. What is wrong with a well-rounded liberal arts degree? A degree, which I might add, can be earned at countless reasonably priced colleges.

George Anders, our guest this week on Better Off makes a strong case in his recently released book, You Can Do Anything: The Surprising Power of a "Useless" Liberal Arts Education.

You don’t have to be a rocket scientist or know how to write computer code to succeed in today’s work environment.

When you really think about it, it’s amazing how many doors a so called “useless” liberal arts education can open.

As George says, you can be yourself, as an English major, and thrive in sales. You can segue from anthropology into the booming new field of user research; from classics into management consulting, and from philosophy into high-stakes investing. At any stage of your career, you can bring a humanist’s grace to the rapidly evolving high-tech future.

If you’ve got kids starting the college application process, who are resisting calls to declare a STEM major or if you’re thinking about furthering your education by going to grad school, listen to this episode before making any decisions.

“Better Off” is sponsored by Betterment.

Have a finance related question? Email us here or call 855-411-JILL.

We love feedback so please subscribe and leave us a rating or review in iTunes!

Connect with me at these places for all my content:

https://twitter.com/jillonmoney

https://www.facebook.com/JillonMoney

https://www.instagram.com/jillonmoney/

https://www.linkedin.com/in/jillonmoney/ 

http://www.stitcher.com/podcast/jill-... 

http://betteroffpodcast.com/

https://itunes.apple.com/us/podcast/b...

"Better Off" theme music is by Joel Goodman, www.joelgoodman.com.

Before helping you take charge of your career with my new best friend Nicole Lapin, we started off with some calls and emails.  First up was Nancy in Missouri, a business owner, who was wondering if it makes sense from a tax standpoint to keep making IRA contributions.  Next we chatted with Asa from New York who wanted to run his numbers by us to make sure his retirement plan is in good shape. April 8 JOM Hour One

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When you hear my unabashed enthusiasm and connection with today’s guest, Nicole Lapin, I think you will understand why we hit it off so quickly.    

Already an accomplished journalist by her thirtieth birthday, Nicole expanded her reach with the 2015 release of her New York Times bestseller, Rich Bitch. Yes, that’s the title. Nicole’s premise is simple: she wanted to own that word and use it to attract people who might not necessarily pick up a personal finance book.

Nicole’s latest book, which is laugh-out-loud funny, is called Boss Bitch: A Simple 12-Step Plan to Take Charge of Your Career.  Despite the title of both of her books, they are not exclusively for women. Both are about taking charge, no matter who you are.

April 8 JOM Hour Two

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Boss Bitch is about being a boss without having a business card or dozens of employees to prove it. Here are some topics that that Nicole explores:

Be the CEO of YOU by running your life like a business

• Think like a boss by being entrepreneurial within an existing company
• Getting, and crushing, your dream job
• Be a hustler by exploring your passions and making extra money
• The nuts and bolts of getting your OWN business off the ground

Nicole is all about investing in YOURSELF, bettering yourself to become better off in life and in your career will pay more dividends than any investment! These are not unique concepts, but like diet and exercise, just a few small steps often lead to long-lasting improvements.    

I had so much fun with this interview that I can’t wait for Nicole’s next book!  I suspect it will have a certain word in the title...

P.S. Check out our podcast!  It's called Better Off and it's sponsored by Betterment.  It's similar to the radio show yet a bit different.  We'd love hear your feedback!  You can download it via iTunes, Spotify or Google Play.  If possible, please leave a rating and/or review in iTunes.

Thanks to everyone who participated this week, especially Mark, the Best Producer/Music Curator in the World. Here's how to contact us:

• Call 855-411-JILL and we'll schedule time to get you on the show LIVE 

• Send an email: askjill@jillonmoney.com 

• Tweet us: @jillonmoney and @MTalercio