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Carrie Sax is a financial advisor at EP Wealth who also has a degree in zoology and has earned a CFP and CFA. She has a regular yoga meditation practice and has been working in the financial services industry for twenty years.
Today, Carrie joins the show to discuss her journey from zoology major to financial advisor, the impact gender stereotypes have had on men and women’s finances, and the pivotal roles financial advisors play for their clients.
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Key Takeaways
00:53 – Jonathan introduces today’s guest, Carrie Sax, who joins the show to share her journey to financial planning and how she made an early association between money and goals
13:04 – From zoology to finance
21:25 – Stock selection
24:02 – Portfolio planning
28:59 – The most important things financial advisors do for their clients
31:44 – Finances, relationships, and gender roles
43:05 – Gender differences between how men and women approach finances
44:43 – One piece of advice Carrie would give to a prospective client to find financial success and one thing to completely avoid
47:08 – One thing people don’t know about Carrie that she would like them to know and one place Carrie has visited that had a profound impact on her
48:33 – Jonathan thanks Carrie for joining the show and lets listeners know where to connect with him
Tweetable Quotes
“Most of what I learned came from my mom, who handled the family finances. She taught me my numbers, she took me to the bank and showed me how to use the ATM, she got me a checking account. My dad was into his boat and his cars, so my mom was really the one who was really organized and managed the household expenses well.” (03:18) (Carrie)
“My dad did earn the money and he made good money at certain times in his life. But he really had no idea what he was spending. He really had no awareness or mindfulness around the spending. It was just, ‘money in, money out,’ and my mom was this gatekeeper, and I don’t think either of them had a grasp on what was possible.” (07:55) (Carrie)
“In my opinion, and from my experience and education, if you go from one advisor to another, the portfolio shouldn’t be that different. They really shouldn’t. It’s a bit commoditized. I think a low-cost portfolio, passive tense, research shows tends to outperform.” (24:20) (Carrie)
“It’s an exciting thing to talk about the hot stock of the day, but it doesn’t really ever get you the better returns in the long-term, I don’t think.” (28:46) (Carrie)
“Finances are not just for the guys. Sometimes women are more savvy with that stuff than men. I think it really makes for a more balanced relationship.” (36:52) (Carrie)
“Really it’s just saving. It’s living below your means, saving, and investing in a stock and bond portfolio for the long-run.” (45:45) (Carrie)
“I care about my clients. I think that’s the best way to be a successful advisor is to care, because then you’re in it for the right reasons.” (47:36) (Carrie)
Guest Resources
Mindful Money Resources
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To buy Jonathan’s second book – Mindful Investing: https://www.amazon.com/Mindful-Investing-Outcome-Greater-Well-Being/dp/1608688763
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For more complex, one on one financial planning and investing support with Jonathan or a member of Jonathan’s team: https://www.epwealth.com/our-team/berkeley/jonathan-deyoe/
Website: https://mindful.money
Jonathan on LinkedIn: https://www.linkedin.com/in/jonathandeyoe
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