Episode 74

Published on:

13th Sep 2023

074: Carrie Sax - Saving, Investing, & Planning with Care and Consideration

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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

Carrie’s Bio

Mindful Money Resources

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Website: https://mindful.money

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About the Podcast

Mindful Money
Do you struggle with money? You’re not alone.
Money is a means, not an end. It’s a necessity of life for sure, but more money does not always guarantee a “good life”. Money enables many aspects of modern life, but as a dominant consideration it becomes destructive. 
The paradox is that more time and energy spent on personal finance does NOT create better outcomes. Unlike many other parts of life, we can’t create better outcomes by being smarter, spending more time, or putting in more effort.
Join Mindful Money author and experienced 40-year investor Jonathan DeYoe as he shares stories from artists, authors, entrepreneurs, and other advisors about how they mindfully minimize their need to think about money and get more out of life.
If you aren’t happy with your finances, feel like money takes more time that it should, or want to place your financial decisions into the broader context of your life, this show is for you. 
Each episode will draw the line between the “enough” activities that the academics tell us are additive to family outcomes, and those “little bit more” efforts that take time and sap energy, but do NOT improve outcomes.

About your host

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Jonathan DeYoe

Jonathan DeYoe is a best-selling author, speaker, financial advisor and angel investor. He is a husband, father and a practicing Buddhist. His simple underlying message brings a welcomed sense of order to financial chaos and restores a calm center to your financial life.