# Uplift: "Women & Wealth," Cary shares tips and advice to financially empower women.

An episode of [Money Making Conversations Master Class](https://invisiblenetwork.ai/podcast/1264705641), 17 Apr 2025, 26 min.

Audio: https://podtrac.com/pts/redirect.mp3/traffic.omny.fm/d/clips/e73c998e-6e60-432f-8610-ae210140c5b1/b1db7263-d1a3-4d00-8976-af62012aab44/49e8d62f-3dad-42dc-aaee-b2c1015f1bea/audio.mp3?utm_source=Podcast&in_playlist=35a10561-3e1b-4d05-a529-af62012aab6a

Listen and subscribe to Money Making Conversations on iHeartRadio, Apple Podcasts, Spotify, www.moneymakingconversations.com/subscribe/ or wherever you listen to podcasts. New Money Making Conversations episodes drop daily. I want to alert you, so you don’t miss out on expert analysis and insider perspectives from my guests who provide tips that can help you uplift the community, improve your financial planning, motivation, or advice on how to be a successful entrepreneur. Keep winning! Two-time Emmy and Three-time NAACP Image Award-winning, television Executive Producer Rushion McDonald interviewed Cary Carbonaro. A certified financial planner with 25+ years of experience, discusses her book Women and Wealth and her mission to empower women financially. The interview focuses on the growing economic power of women, systemic gaps in the financial industry, and the importance of financial planning and independence. 🎯 Purpose of the Interview 1. Empower Women Financially • Raise awareness about women’s role in the future of wealth ownership. • Encourage women to take control of their financial futures. 2. Highlight Industry Gaps • Expose how the financial services industry has historically underserved women. • Advocate for a more inclusive, “female-friendly” approach to financial planning. 3. Promote Financial Planning for Everyone • Emphasize that financial planning is not just for the wealthy. • Encourage proactive, long-term planning to achieve financial freedom. 🔑 Key Takeaways 1. Women Will Control the Majority of Wealth • By 2030, women are projected to control two-thirds of U.S. wealth (~$30 trillion). 👉 Lesson: The financial industry must adapt to serve a rapidly changing client base. 2. The Financial Industry Is Not Built for Women • Historically designed “by men for men.” • Many women feel unheard, misunderstood, or underserved. 👉 Lesson: Financial services must evolve in communication, empathy, and strategy. 3. Women Often Leave Financial Advisors • About 80% of women leave their financial advisor after a spouse dies. \[ Reasons: • Lack of connection • Poor communication • Feeling excluded or pressured 👉 Lesson: Relationship-building and inclusion are critical in financial advising. 4. Financial Planning Is Essential for Everyone • Not just for the wealthy—everyone needs a roadmap. • Planning covers: • Cash flow • Investments • Taxes • Insurance • Estate planning 👉 Lesson: A comprehensive plan aligns all aspects of your financial life. 5.“If You Fail to Plan, You Plan to Fail” • Financial success requires intentional planning. • Each person’s “financial freedom” looks different. 👉 Lesson: Define your goals and build a strategy to reach them. 6. Women Face a Significant Wealth Gap • Beyond the wage gap, women experience a**“wealth gap”** due to: • Career interruptions • Caregiving responsibilities • This can cost women around $1 million over a lifetime. \[ 👉 Lesson: Structural and societal factors impact long-term wealth accumulation. 7. Financial Literacy Equals Power and Choice • Wealth gives options in lifestyle, career, and life decisions. 👉 Lesson: Money is not just income—it’s control over your life. 8. Women Often Seek Help Too Late • Many women consult financial advisors only after crises (death, divorce, job loss). 👉 Lesson: Proactive planning is far more effective than reactive decision-making. 9. Representation Matters in Finance • Only about 24% of certified financial planners are women. \[ 👉 Lesson: More female professionals are needed to better serve female clients. 10. Confidence & Visibility Drive Success • Carbonaro built her business by: • Positioning herself as a financial expert for women • Speaking publicly and sharing her message • Staying authentic to her mission 👉 Lesson: Clear positioning and purpose attract the right audience. 💬 Notable Quotes On Wealth Shift • “By 2030, women are going to control two-thirds of the nation’s wealth.” On Industry Gaps…

## Transcript

[0:00] Speaker 1: Hi.
[0:00] Speaker 2: I am Rashan McDonald, a host of weekly Money Making
[0:03] Speaker 2: Conversation Masterclass show. The interviews and information that this show
[0:06] Speaker 2: provides are for everyone. It's time to stop reading other
[0:10] Speaker 2: people's success stories and start living your own. If you
[0:13] Speaker 2: want to be a guest on my show, please visit
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[0:20] Speaker 2: Button press submit and information will come directly to me. Now,
[0:24] Speaker 2: let's get this show started.
[0:26] Speaker 1: Before I go.
[0:26] Speaker 2: Into my first guest, I want to share a card.
[0:29] Speaker 2: I got a thank you card I got from my
[0:31] Speaker 2: pastor Jenkins and Boston. I dropped in surprised him. He
[0:35] Speaker 2: was doing a real estate conference up in Boston a
[0:38] Speaker 2: couple of weekends ago, a couple of weekends ago, and
[0:40] Speaker 2: he sent a card and he asked me to do an
[0:42] Speaker 2: impromptu speech.
[0:43] Speaker 1: He said, Rishad, you're here, can you talk? Well? You
[0:45] Speaker 1: know I love to talk, so wasn't a hard push.
[0:47] Speaker 2: He said, thank you Rashaan for the inspiration and practical
[0:50] Speaker 2: wisdom you share your words. If you don't start dreaming
[0:55] Speaker 2: about what you want today, you will not get it tomorrow.
[1:00] Speaker 1: He said.
[1:01] Speaker 2: I said that. He said that statement right there. Change
[1:05] Speaker 2: the whole outlook of the weekend. If you don't start
[1:08] Speaker 2: dreaming about what you want today, you will not get
[1:10] Speaker 2: it tomorrow. It reminded everybody and gave him clarity about
[1:14] Speaker 2: if you don't have action in hand, then your dreams
[1:17] Speaker 2: won't come true. And that's what Money Making Conversation is
[1:20] Speaker 2: all about, bringing people on my show to help you
[1:23] Speaker 2: reach your goals. I'm just a storyteller. I bring on
[1:27] Speaker 2: subject matter experts, and my first guess is definitely a
[1:30] Speaker 2: subject matter expert, she said. Winning certified financial planner professional
[1:35] Speaker 2: with over twenty five years of experience, she leads a
[1:38] Speaker 2: multi million dollar financial planning practice specializing in empowering women
[1:44] Speaker 2: to overcome financial challenges and increase their financial literacy. We
[1:48] Speaker 2: will be discussing her career and her new book, Women
[1:51] Speaker 2: and Wealth. Please weapon the Money Making Conversations Masterclass for
[1:55] Speaker 2: the first time.
[1:56] Speaker 1: Carrie Cabernaro, Hi.
[1:58] Speaker 3: Dog, carry, Thank you, Rushan. Great.
[2:02] Speaker 2: We're talking about women on this show today. We're talking
[2:04] Speaker 2: about empowering women, the culture that is out there for women.
[2:10] Speaker 2: Your book, Women and Wealth. Tell us why you wrote
[2:12] Speaker 2: that book, Carrie.
[2:14] Speaker 3: Sure, so, it's actually my second book, but I wanted
[2:19] Speaker 3: to get out all the experiences I've had in my
[2:23] Speaker 3: twenty five years of working with women. My first book
[2:26] Speaker 3: actually came out about a decade ago, and this is
[2:29] Speaker 3: my second book. And also I wanted to I'm older
[2:32] Speaker 3: and wiser, and I wanted to really share my knowledge
[2:36] Speaker 3: with the world and also with my industry. What's really
[2:40] Speaker 3: interesting in my industry. I'm going to give you some
[2:42] Speaker 3: stats that are going to pretty much blow your mind
[2:45] Speaker 3: and probably blow your audience's mind as well, because most
[2:48] Speaker 3: people don't know it, and certainly the world doesn't know it,
[2:51] Speaker 3: and barely my industry knows it. And it's my industry.
[2:55] Speaker 3: So this is why I wrote the book. So by
[2:58] Speaker 3: twenty thirty, women are going to control two thirds of
[3:02] Speaker 3: the nation's wealth, which is thirty trillion dollars with a T,
[3:08] Speaker 3: which is the same as the GDP of the United States.
[3:11] Speaker 3: That's how much wealth is going to be in the
[3:13] Speaker 3: hands of women. And we are five short years away
[3:16] Speaker 3: from that, and we are not ready for it. My industry, unfortunately,
[3:21] Speaker 3: has been built by men for men, and that's okay
[3:23] Speaker 3: because that's who the clients were. But guess what the
[3:27] Speaker 3: clients are changing the future and the future clients of
[3:31] Speaker 3: wealth management are women, and the industry is not ready
[3:34] Speaker 3: for that. So I want to change the trajectory of
[3:38] Speaker 3: the industry to make it female friendly. And that's why
[3:41] Speaker 3: I wrote this book. And then in addition, it also
[3:44] Speaker 3: has jam packed with advice strategies for women to build
[3:47] Speaker 3: wealth as well in the book. So it's all about that.
[3:52] Speaker 2: The messager Scarret. You know your financial planner, now, I'm
[3:57] Speaker 2: sure you know. I want to let people know what
[4:00] Speaker 2: you do in your website and all those good things.
[4:03] Speaker 2: What are some of the hands on strategy and tools
[4:05] Speaker 2: that you promote to your clients that would allow people
[4:09] Speaker 2: to understand what the services that you offer are nationwide
[4:13] Speaker 2: and people should at least consider what you're doing at
[4:16] Speaker 2: your practice.
[4:18] Speaker 3: Sure, Well, you know it's funny when you got on
[4:20] Speaker 3: the call before the first thing you said was the
[4:23] Speaker 3: thank you letter you got talking about dreaming for today.
[4:28] Speaker 3: If you don't dream for today, it won't happen tomorrow. Well,
[4:31] Speaker 3: I say, pretty similar to that, planning today. How can
[4:35] Speaker 3: you get where you're going without a plan if you
[4:38] Speaker 3: fail to plan, if you plan to fail, And it's
[4:43] Speaker 3: the same type of thing planning for today will get
[4:46] Speaker 3: you there tomorrow. So I think everybody on the planet
[4:52] Speaker 3: deserves a financial plan because think about it, if you
[4:55] Speaker 3: don't know what you need to do to get to
[4:59] Speaker 3: your financial freedom goal, whatever that looks like for you,
[5:03] Speaker 3: and everybody's is different because everybody's completely different. So you know,
[5:07] Speaker 3: if ifits you know, retiring at sixty and spending I
[5:13] Speaker 3: don't know, ten thousand dollars a month, and you know,
[5:17] Speaker 3: living in a house in Florida, and you know, having
[5:21] Speaker 3: two cars and going on vacations once a year, whatever
[5:24] Speaker 3: it looks like. Whatever your freedom looks like to you,
[5:28] Speaker 3: whatever that looks like, you have to be able to
[5:31] Speaker 3: know what it takes to get there. So that's where
[5:35] Speaker 3: I come in. So on a what a financial plan
[5:38] Speaker 3: or a certified financial planner does, and let's make aplan.
[5:41] Speaker 3: Dot org is actually where you can find a certified
[5:44] Speaker 3: financial planner. And so what that does is we look
[5:47] Speaker 3: at every single aspect of your financial life. So we
[5:50] Speaker 3: look at risk management, we look at cash flow management,
[5:54] Speaker 3: we look at tax management. Today's tax day, that's one
[5:57] Speaker 3: of our little little spokes. We look at investment planning,
[6:01] Speaker 3: we look at retirement planning, we look at a state planning,
[6:05] Speaker 3: and all of it working together. So it's a complete
[6:09] Speaker 3: circle where you know if you don't know. Let's say,
[6:12] Speaker 3: for example, I see this a lot where somebody does
[6:15] Speaker 3: you know, an insurance something in insurance or risk management
[6:19] Speaker 3: that hurts their either that hurts their cash flow or
[6:22] Speaker 3: hurts their investments, or something that you do in investments
[6:26] Speaker 3: that hurts your taxes, or something that you do in
[6:28] Speaker 3: taxes that hurts your state, or so I see this
[6:31] Speaker 3: all the time, Like I see all this, So when
[6:34] Speaker 3: they're not working in concert or somebody doesn't know how
[6:37] Speaker 3: you're pulling them all together, usually there's mistakes along the way,
[6:41] Speaker 3: and so really you just want to get a roadmap
[6:45] Speaker 3: to create your own financial future of where you want
[6:47] Speaker 3: to go. I mean, everybody on the planet deserves that.
[6:51] Speaker 3: It's funny because I think most people believe that it's
[6:55] Speaker 3: only for the you know, super rich or you know,
[6:57] Speaker 3: but it's not. I don't know where that somehow that
[7:00] Speaker 3: got lost along the way. What happens is wealthy people
[7:04] Speaker 3: hire us because they know how important it is to
[7:08] Speaker 3: preserve and grow and make all the right moves with money.
[7:12] Speaker 3: So it seems like that's what the only people that
[7:17] Speaker 3: we work with. However, the reality is everybody should have one.
[7:21] Speaker 2: Now, you know your last chapter, I think this chapter
[7:23] Speaker 2: twenty and three is about how do you make the
[7:25] Speaker 2: industry female friendly? You know, I grew up with six sisters,
[7:29] Speaker 2: so I grew up around women. And so when you
[7:32] Speaker 2: make that statement like that, you know most people will
[7:34] Speaker 2: push back, go, what do you mean? Are you trying
[7:36] Speaker 2: to say we live in a chauvinistic society? What are
[7:39] Speaker 2: you saying when you say the industry? What is the industry?
[7:41] Speaker 2: First of all, and then making it female friendly?
[7:45] Speaker 3: Sure? So the industry is wealth management. Okay, So if
[7:49] Speaker 3: anybody has ever worked with a certified financial planner or
[7:53] Speaker 3: a financial planner, or an insurance salesperson, or a banker
[8:00] Speaker 3: or a broker or you know, anything related to that,
[8:05] Speaker 3: anything related to either selling products, getting advice, something to
[8:11] Speaker 3: build your wealth whatever that means. Right, So that's a
[8:15] Speaker 3: very large industry. And broker dealers, registered investment advisors, certified
[8:23] Speaker 3: financial planners, that whole that is my industry, that whole
[8:27] Speaker 3: kitten koboodle. Right. So making it female friendly is so
[8:32] Speaker 3: again created by men for men. So there's so many
[8:36] Speaker 3: things that we need to change to make it so
[8:38] Speaker 3: that it's welcoming to women. So Another stat I'll give
[8:41] Speaker 3: you is Harvard Business Review came out with a study
[8:44] Speaker 3: in two thousand and nine saying that financial services industry
[8:49] Speaker 3: is the least sympathetic to women and has the most
[8:54] Speaker 3: to gain if they get it right. So we already
[8:58] Speaker 3: know that they're doing it wrong, and then I have
[9:01] Speaker 3: a million other stats of why they're doing it wrong. So,
[9:03] Speaker 3: for example, when a couple of spouse dies, usually it's
[9:07] Speaker 3: the man, because women have longevity. The women live, by
[9:12] Speaker 3: the way, she doesn't to ten years longer than a man.
[9:15] Speaker 3: You know, she's going to be a widow. You know
[9:17] Speaker 3: she's going to outlive you. It's very rare when it
[9:20] Speaker 3: goes the other way. I say that all the time.
[9:23] Speaker 3: I'm like, I'm going to be living forever and my
[9:25] Speaker 3: husband's going to be gone. And he always gets upset
[9:28] Speaker 3: when I say that, and I'm like, honey, there's just
[9:30] Speaker 3: no way it's going to happen. Plus he's older than
[9:32] Speaker 3: me anyway, so it's kind of funny. But anyway, So
[9:36] Speaker 3: what happens is in a couple when the spouse dies,
[9:40] Speaker 3: which is a man, in most cases, the woman who's
[9:45] Speaker 3: left leaves their financial advisor. Eighty percent of the time,
[9:49] Speaker 3: and that's stat has not changed in decades. So the
[9:53] Speaker 3: reason being is she's not heard, she's ignored, she's you know,
[9:59] Speaker 3: lack of personal connection, poor communication, doesn't feel empowered, feels
[10:05] Speaker 3: lost or pressured or pitched to. So there's like a
[10:08] Speaker 3: million reasons why this happens, and it just keeps happening
[10:11] Speaker 3: over and over. So that's a great stat for me
[10:15] Speaker 3: to say, hey, guys, you're not getting it right. Let's
[10:19] Speaker 3: let's figure out what to do to make it right.
[10:21] Speaker 1: Well, what I hear I talked like this, Carrie.
[10:23] Speaker 2: You know, women making in roads, and one of the
[10:27] Speaker 2: things that the new administration came in was really chop
[10:31] Speaker 2: on DEI. And we know DEI has been a very
[10:35] Speaker 2: strong empowering tool for women.
[10:38] Speaker 1: Now is that.
[10:40] Speaker 2: Part of the bro culture that you're talking about? You know,
[10:43] Speaker 2: this this chopping opportunities for women and not allowing them
[10:47] Speaker 2: to grow when you see people attacking programs like DEI.
[10:53] Speaker 3: Well, so it's so interesting because I get this question
[10:56] Speaker 3: all the time, and in my opinion, this is actually
[11:01] Speaker 3: not a de and I issue, believe it or not,
[11:04] Speaker 3: It is actually a dollars and cents issue because think
[11:08] Speaker 3: about it, what other industry would you say to them,
[11:12] Speaker 3: here is a trillion dollar opportunity and they don't do
[11:17] Speaker 3: anything about it.
[11:20] Speaker 2: Kind of interesting, right, Well, I think I think that
[11:23] Speaker 2: people when they when they're when they're rolling down. Like
[11:25] Speaker 2: for instance, we just came off from the space where
[11:29] Speaker 2: there was an all female space.
[11:32] Speaker 1: I don't know what you call space flight.
[11:33] Speaker 2: They just go up there for a couple of seconds,
[11:35] Speaker 2: they come back down at you.
[11:37] Speaker 1: I don't know what that was. I don't know.
[11:40] Speaker 2: You know, people get nervous. I get nervous I get
[11:42] Speaker 2: on the regular airplane. So I think if I go
[11:44] Speaker 2: out there and I saw what the Earth looked like
[11:46] Speaker 2: on the other side, I think I'd be super nervous
[11:47] Speaker 2: too it, especially if I'm floating. But I think that
[11:51] Speaker 2: we oftentimes on stereotype and glamorizing women, because I would
[11:56] Speaker 2: say this. The one thing I took away from that
[11:59] Speaker 2: was that how the women would just made up, you know,
[12:04] Speaker 2: every every photo they took it seemed like it was glamorized,
[12:08] Speaker 2: where the ones that didn't have all the women were
[12:11] Speaker 2: not so much glamorized, didn't look it looked like they
[12:13] Speaker 2: should be on the cover of Vogue or Essence or
[12:17] Speaker 2: Ale or something like that that I was saying, Uh,
[12:21] Speaker 2: that's interesting how they are approaching this with the with
[12:24] Speaker 2: the female all female crew. Is that the society that
[12:28] Speaker 2: we are living in now that women are gonna always
[12:30] Speaker 2: be even though there are the true You're gonna control
[12:32] Speaker 2: the trillion dollar industry, but stereotypes are gonna keep winning.
[12:38] Speaker 3: Oh I hope not. But but I have to admit
[12:41] Speaker 3: I I am. I looked at those photos. It's funny.
[12:44] Speaker 3: I didn't even notice the makeup on the on the women.
[12:46] Speaker 3: I just noticed the outfits were blue. That's so funny
[12:49] Speaker 3: from from your perspective.
[12:50] Speaker 4: Please don't go anywhere. We'll be right back with more
[12:54] Speaker 4: money Making Conversations Masterclass. Welcome back to the Money Making
[13:02] Speaker 4: Conversations Masterclass, hosted by Rashaan McDonald. Money Making Conversations Masterclass
[13:08] Speaker 4: continues online at Moneymakingconversations dot com and follow money Making
[13:13] Speaker 4: Conversations Masterclass on Facebook, Twitter, and Instagram.
[13:17] Speaker 3: So, as a woman in this in this world who
[13:21] Speaker 3: is a speaker and a writer and you know, entrepreneur,
[13:25] Speaker 3: I have my own business all that, all of that stuff,
[13:28] Speaker 3: I actually do feel I do feel this is like
[13:30] Speaker 3: not in my book, but I do feel pressure to
[13:33] Speaker 3: look attractive with my hair and makeup done, and my
[13:37] Speaker 3: nails done and all, and my lash is done and
[13:40] Speaker 3: all that stuff. So I guess that is still around,
[13:43] Speaker 3: But I feel like that's more of me succumbing to
[13:47] Speaker 3: that I want to look good rather than a stereotype
[13:50] Speaker 3: that I have to look good.
[13:51] Speaker 1: Well, you know that's honest stereotype. Now. You know, women
[13:55] Speaker 1: have been have been.
[13:58] Speaker 2: Hazed on TV by the body shapes, you know, body shamed.
[14:02] Speaker 2: Celebrities have undergone that tremendously because they're on the forefront
[14:07] Speaker 2: of the world. Also, men allowed when they age. It's
[14:12] Speaker 2: called dignified aging. Where women get old they want to like,
[14:17] Speaker 2: can you get somebody younger in there? So there are
[14:20] Speaker 2: so I guess when you say we're not even dealing
[14:23] Speaker 2: with money, women have to deal with this the basic
[14:26] Speaker 2: stereo types of a look. And I'm assuming that when
[14:30] Speaker 2: it comes to dealing with money, the women are also stereotype.
[14:34] Speaker 2: Well can they handle that amount of money or they
[14:37] Speaker 2: qualified to handle that type of money? So you are
[14:40] Speaker 2: financial planner? You certified financial planner, Carrie? How have you
[14:44] Speaker 2: done it for twenty five years? How have you been
[14:46] Speaker 2: able to knock off, you know, open these doors and
[14:49] Speaker 2: be able to let people know that, hey, I'm not
[14:51] Speaker 2: taking this. I am smart, I am an experienced I
[14:54] Speaker 2: am a successful entrepreneur. I run a multi million dollar business.
[15:00] Speaker 3: Right. Well, it's so interesting because so let me tell
[15:03] Speaker 3: you my story of how I got into this, right So,
[15:07] Speaker 3: because it's definitely not a lot of women in my
[15:11] Speaker 3: industry right now, it's about eighty percent men, twenty percent females,
[15:16] Speaker 3: and actually the exact number of females in the certified
[15:21] Speaker 3: financial planners we are twenty three point nine percent. However,
[15:27] Speaker 3: out of those twenty three point nine not all of
[15:30] Speaker 3: them are business owners and you know CEOs and rain
[15:37] Speaker 3: makers and the ones going out getting the clients some
[15:42] Speaker 3: of them, and a lot of them are in the
[15:44] Speaker 3: back office or in support positions or you know, junior
[15:49] Speaker 3: advisors or customer service professionals or teachers or professors and
[15:56] Speaker 3: so not necessarily in the money making part of the business,
[16:01] Speaker 3: right because it's so difficult, and it's so difficult period,
[16:06] Speaker 3: let alone being a woman. It's even like ten times
[16:10] Speaker 3: more difficult doing this profession as a woman. So what's
[16:14] Speaker 3: interesting is I started to like I was raised by
[16:17] Speaker 3: my dad, who was who worked in the in the
[16:21] Speaker 3: finance business he worked. He was a SVP for JP
[16:24] Speaker 3: Morgan Chase, And so I grew up learning about money
[16:28] Speaker 3: like people learn about you know, sports or whatever, and
[16:32] Speaker 3: so I didn't know that people didn't know about money,
[16:36] Speaker 3: and I didn't know that I was a privileged few
[16:40] Speaker 3: to learn about money at a young age and always
[16:43] Speaker 3: talking about money with my family and my dad and
[16:46] Speaker 3: me and my dad went to foreclosure auctions together and
[16:49] Speaker 3: we went to see you know, speakers about money. We
[16:53] Speaker 3: went to see straight straight talk with the Dolans, which
[16:56] Speaker 3: is way back in the day. And my dad to work.
[17:00] Speaker 3: Oh yeah, my dad took me to work before there
[17:02] Speaker 3: was take your daughter to work day, so in the seventies,
[17:06] Speaker 3: and so I just thought it was super cool and
[17:09] Speaker 3: I just loved what he did and I was very
[17:11] Speaker 3: interested in it, and I learned everything about money. So
[17:13] Speaker 3: by the time I was in college, I was you know, balancing,
[17:16] Speaker 3: I was doing my girlfriend's budgets, and I was like
[17:19] Speaker 3: always just doing money stuff for everybody just because I could,
[17:23] Speaker 3: and I knew it and I loved it and it
[17:25] Speaker 3: was really fun. And I didn't even know it was
[17:27] Speaker 3: a profession back then. I literally had no idea and
[17:30] Speaker 3: then I just fell into it and I said, wow,
[17:34] Speaker 3: I can't believe I get paid to do this, like
[17:36] Speaker 3: I would do this for fun because I love it
[17:38] Speaker 3: so much. And then and then I wound up being
[17:41] Speaker 3: very good at it because I love it so much,
[17:43] Speaker 3: because it's my life's passion and work. And then I
[17:47] Speaker 3: just clients just started women because I knew I wanted
[17:51] Speaker 3: to work with women just started to come to me,
[17:53] Speaker 3: and it just started to balloon over time, and everyone
[17:56] Speaker 3: was like, you know, I didn't do the typical mail
[17:58] Speaker 3: things like seminars and playing golf and you know, advertising,
[18:06] Speaker 3: and just I didn't do any of that stuff. I
[18:08] Speaker 3: just helped myself out as a financial advisor for women.
[18:11] Speaker 3: I spoke, I wrote, I did you know TV interviews
[18:15] Speaker 3: and things like that, and I always just put myself
[18:19] Speaker 3: out of who I am, what I believe in that
[18:22] Speaker 3: I believe women should be financially independent, that women should
[18:25] Speaker 3: control their own destiny, that women need money, that money
[18:29] Speaker 3: equals power, and women need more of both. And then
[18:33] Speaker 3: my practice just evolved over time to become this incredible business.
[18:39] Speaker 2: My guess is an award winning certified financial planner professional
[18:44] Speaker 2: for twenty five years of experience. She leads a multi
[18:47] Speaker 2: million dollar financial planning practice where she specializes in empowering
[18:51] Speaker 2: women to overcome financial challenges and increase their financial literacy.
[18:56] Speaker 2: She has a second book out. Her first book was
[18:58] Speaker 2: out ten years ago. She put, now there's a new
[19:00] Speaker 2: book out called Women and Wealth.
[19:03] Speaker 1: Carrie.
[19:04] Speaker 2: In your book, you talk about AI, and you talk
[19:07] Speaker 2: about how there's a description about a man with long hair.
[19:13] Speaker 2: This description comes out and then you do it a
[19:16] Speaker 2: question with AI about a woman with long hair.
[19:20] Speaker 3: Well, no, actually, so what it was was we asked
[19:23] Speaker 3: AI give us a picture of a financial planner, and
[19:27] Speaker 3: they okay, I apologize, and then and no, it's okay.
[19:30] Speaker 3: And then they said and then we said, give us
[19:32] Speaker 3: a picture of a financial planner with long hair, and
[19:37] Speaker 3: they gave us a picture of a man with long hair.
[19:40] Speaker 3: So a woman didn't even come into the into the mix.
[19:43] Speaker 3: How do you like that?
[19:45] Speaker 1: Right? Right? Right right?
[19:46] Speaker 2: And that's what Because you know, I got the book
[19:48] Speaker 2: today and I wanted to make sure I got as
[19:50] Speaker 2: much information in and because you're such a great read,
[19:53] Speaker 2: and because you had me going back flipping page and
[19:55] Speaker 2: four and forth, I was like, this is this book
[19:58] Speaker 2: really captures because it's a journey for you. You talk
[20:01] Speaker 2: about the bread winner, they talk about you talk about
[20:03] Speaker 2: the behavior.
[20:06] Speaker 3: You know.
[20:06] Speaker 2: It's it's a couple of things in your book that
[20:08] Speaker 2: really hit me. It's almost like we're still in the
[20:12] Speaker 2: Leave It to Beaver. If anybody's familiar with that sitcom,
[20:14] Speaker 2: you know what the what the wife comes home, she
[20:17] Speaker 2: has the apron on, and the man comes on, he's
[20:20] Speaker 2: the bread winner. Women are advancing, but they still not
[20:23] Speaker 2: be respected for the advances they are to be made.
[20:26] Speaker 2: Am I correctness saying.
[20:27] Speaker 3: That, Yeah, oh my gosh, you are so and and
[20:31] Speaker 3: and actually one of the things you just exactly touched
[20:34] Speaker 3: on is what's called the generator of the wealth gap, right,
[20:39] Speaker 3: which everybody knows about the pay wage gap that women make,
[20:42] Speaker 3: you know, eighty two cents on the dollar. But the
[20:44] Speaker 3: wealth gap is exactly what you just described, which is
[20:48] Speaker 3: the woman not not having to carry all the burden
[20:50] Speaker 3: at home. So because the woman is out caregiving for
[20:54] Speaker 3: you know, having children, then caregiving for the children, then
[20:58] Speaker 3: taking care of the parents, they call that the good
[21:00] Speaker 3: daughter spouse penalty. And so that all of that over
[21:05] Speaker 3: her lifetime costs her a million dollars.
[21:10] Speaker 2: Mmod No, but what is that perception we hear that.
[21:16] Speaker 1: I have heard that a lot.
[21:17] Speaker 2: I grew up with six erses, okay, my financial planner,
[21:19] Speaker 2: she's female. So I'm very familiar with a lot of
[21:23] Speaker 2: the trappings of negativity or stereotyping that you are saying
[21:27] Speaker 2: on my show today. The average person go, so, what
[21:30] Speaker 2: what's the big deal when you hear that? How do
[21:34] Speaker 2: you respond to those people? Because those are the people
[21:36] Speaker 2: who are not opening their doors. Those are the people
[21:39] Speaker 2: who feel they I like the way things are, Why
[21:42] Speaker 2: did I Why should I change it? I like my personality.
[21:45] Speaker 2: I don't think I'm chaupinistic. What do you say to
[21:48] Speaker 2: that care.
[21:48] Speaker 3: Well, I would say I would say to them, what's
[21:51] Speaker 3: going to happen when you die? And what's going to
[21:53] Speaker 3: happen to your to your wife, m h, you're going
[21:58] Speaker 3: to be okay? Or mom or your daughter? Are you
[22:04] Speaker 3: okay with that? Because I so. The other thing is
[22:07] Speaker 3: that ninety percent of women are going to be responsible
[22:10] Speaker 3: at one point in their life for their own financial future.
[22:13] Speaker 3: So why would they do it? And most of the
[22:17] Speaker 3: time it's when something terrible happens, a death, a divorce,
[22:22] Speaker 3: a disability, a job loss, something terrible that rocks their
[22:25] Speaker 3: world is when I get a call from a female client.
[22:30] Speaker 3: So I always say it's they call me when it's
[22:32] Speaker 3: raining for them, like everything is terrible. I want to
[22:36] Speaker 3: I want it to be that a woman calls me
[22:38] Speaker 3: when when it's sonny out and everything's great, and that's
[22:42] Speaker 3: when they come to me. And honestly, that's when the
[22:44] Speaker 3: guys usually hire a financial planner, but it's not when
[22:47] Speaker 3: the women do. The women are under some sort of
[22:50] Speaker 3: you know, life changing, altering situation where they're completely overwhelmed
[22:55] Speaker 3: and they need help, and that's what usually when they
[22:57] Speaker 3: bring somebody in, but they should really bring it in earlier.
[23:01] Speaker 3: And also I just think that every woman should be
[23:05] Speaker 3: responsible for their own financial literacy and their own financial
[23:08] Speaker 3: future and also teach teach the next generation because that's
[23:12] Speaker 3: how we're going to create wealth over time. And also
[23:15] Speaker 3: the other thing is that wealth just gives you choices
[23:18] Speaker 3: in your life. It gives you choices to do what
[23:21] Speaker 3: you want to do. If you want to work or
[23:25] Speaker 3: take a take a lesser paying job, if you want
[23:27] Speaker 3: to stay home, if you want to work from home,
[23:29] Speaker 3: if you want to you know, buy a second house,
[23:32] Speaker 3: if you you know what kind of car you want
[23:34] Speaker 3: to drive, what you want to all, what church you
[23:37] Speaker 3: want to belong to, Where do you want to live,
[23:38] Speaker 3: what house you want to live in? Like, it's what neighborhood,
[23:41] Speaker 3: It's like, it's everything related to wealth gives you the
[23:45] Speaker 3: choices to make these decisions in your life that you
[23:49] Speaker 3: have control over. You know, there's so many things we
[23:52] Speaker 3: can't control in our lives. It's amazing that if you
[23:55] Speaker 3: have this money, you have all these choices. Right, everybody
[23:59] Speaker 3: should have one. Everybody should have a plan, and everybody
[24:01] Speaker 3: should know where they're going, and everybody should be making
[24:04] Speaker 3: all the right moves with money.
[24:05] Speaker 2: Well, you got a new book out, it's called Women
[24:07] Speaker 2: and Wealth and twenty five years.
[24:10] Speaker 1: Tell us how we can get in touch with you, Carrie.
[24:13] Speaker 3: Sure. So I am easy to find because I am
[24:16] Speaker 3: the only carry Corbinaro on the planet. So it's very
[24:21] Speaker 3: easy to find me. C A r y c R
[24:23] Speaker 3: b O n A ro o. My website is Carrycobinaro
[24:26] Speaker 3: dot com, LinkedIn Carriecobinaro, Facebook, Carry Cobinaro, Instagram, carriy Cobinaro
[24:33] Speaker 3: X Carrycobinaro. So I'm very very easy to find and
[24:37] Speaker 3: you can just google my name too and find me
[24:39] Speaker 3: that way.
[24:39] Speaker 1: She's amazing.
[24:40] Speaker 2: She leads a multimillion dollar financial planning service specializing and
[24:44] Speaker 2: empowering women to overcome financial challenges and increase their financial literacy,
[24:50] Speaker 2: a new book, Women and Wealth.
[24:52] Speaker 1: Thank you for compan on Money Making Conversation master Class.
[24:54] Speaker 3: Carry Thank you so much for having me. It was
[24:57] Speaker 3: a pleasure.
[24:58] Speaker 1: You're fantastic. Thank you.
[25:00] Speaker 2: This has been another edition of Moneymaking Conversation Masterclass hosted
[25:04] Speaker 2: by me Rushawn McDonald. Thank you to our guests on
[25:07] Speaker 2: the show today, and thank you for listening to the
[25:09] Speaker 2: audience now. If you want to listen to any episode
[25:12] Speaker 2: I want to be a guest on the show, visit
[25:14] Speaker 2: Moneymakingconversations dot com. Our social media handle is money Making Conversation.
[25:19] Speaker 2: Join us next week and remember to always leave with
[25:21] Speaker 2: your gifts.
[25:22] Speaker 1: Keep winning.

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