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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 womenโs finances, and the pivotal roles financial advisors play for their clients.
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Key Takeaways
00:53 โ Jonathan introduces todayโs 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 โ From zoology to finance
21:25 โ Stock selection
24:02 โ Portfolio planning
28:59 โ The most important things financial advisors do for their clients
31:44 โ Finances, relationships, and gender roles
43:05 โ Gender differences between how men and women approach finances
44:43 โ One piece of advice Carrie would give to a prospective client to find financial success and one thing to completely avoid
47:08 โ One thing people donโt 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 โ Jonathan thanks Carrie for joining the show and lets listeners know where to connect with him
Tweetable Quotes
โMost 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.โ (03:18) (Carrie)
โMy 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, โmoney in, money out,โ and my mom was this gatekeeper, and I donโt think either of them had a grasp on what was possible.โ (07:55) (Carrie)
โIn my opinion, and from my experience and education, if you go from one advisor to another, the portfolio shouldnโt be that different. They really shouldnโt. Itโs a bit commoditized. I think a low-cost portfolio, passive tense, research shows tends to outperform.โ (24:20) (Carrie)
โItโs an exciting thing to talk about the hot stock of the day, but it doesnโt really ever get you the better returns in the long-term, I donโt think.โ (28:46) (Carrie)
โFinances 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.โ (36:52) (Carrie)
โReally itโs just saving. Itโs living below your means, saving, and investing in a stock and bond portfolio for the long-run.โ (45:45) (Carrie)
โI care about my clients. I think thatโs the best way to be a successful advisor is to care, because then youโre in it for the right reasons.โ (47:36) (Carrie)
Guest Resources
Mindful Money Resources
For all the free stuff at Mindful Money:ย https://mindful.money/resources
To buy Jonathanโs first book – Mindful Money:ย https://www.amazon.com/Mindful-Money-Practices-Financial-Increasing/dp/1608684369
To buy Jonathanโs second book โ Mindful Investing:ย 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 Jonathanโs team:ย https://www.epwealth.com/our-team/berkeley/jonathan-deyoe/
Website:ย https://mindful.money
Jonathan on LinkedIn:ย https://www.linkedin.com/in/jonathandeyoe
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