Two-time Emmy and Three-time NAACP Image Award-winning, television Executive Producer Rushion McDonald interviewed Cary Carbonaro.

A certified financial planner and author of Women and Wealth.

1. Guest Introduction: Cary Carbonaro

Certified Financial Planner with 25+ years of experience.
Leads a multimillion-dollar financial planning practice.
Focuses on empowering women and increasing financial literacy.
Promoting her second book: Women and Wealth.

2. Why Cary Wrote the Book

To share her 25 years of experience working with women.
To address the lack of female-friendly practices in the financial industry.
Key stat:

“By 2030, women will control two-thirds of the nation’s wealth—$30 trillion.”

4. Challenges in the Financial Industry

Industry built by men, for men.
Not ready for the shift in wealth ownership to women.
Harvard Business Review (2009):

“Financial services is the least sympathetic to women and has the most to gain if they get it right.”

5. Financial Planning Philosophy

Everyone deserves a financial plan.
Quote:

“If you fail to plan, you plan to fail.”

Financial planning includes:

Risk management

Cash flow

Tax strategy

Investments

Retirement

Estate planning

6. Making the Industry Female-Friendly

Women often leave their financial advisors after a spouse dies (80% of the time).
Reasons: lack of connection, poor communication, feeling ignored.
Not a DEI issue, but a dollars and cents issue:

“What other industry would ignore a $30 trillion opportunity?”

7. Stereotypes and Societal Expectations

Women face pressure to look attractive in professional settings.
Stereotypes persist in media and even in AI-generated images.
Example: AI generated a man when asked for an image of a financial planner with long hair.

8. Cary’s Personal Journey

Inspired by her father, a JPMorgan Chase executive.
Grew up learning about money and finance.
Built her business by focusing on women, not traditional male-dominated marketing.
Quote:

“Money equals power, and women need more of both.”

9. The Wealth Gap

Beyond the wage gap, the wealth gap is driven by caregiving responsibilities.
Termed the “good daughter/spouse penalty.”
Lifetime cost to women: $1 million.

10. Call to Action

Women should seek financial literacy and independence.
Encourage planning before crisis hits.
Quote:

“Wealth gives you choices in life.”

📌 Key Quotes & Highlights

“If you don’t start dreaming about what you want today, you will not get it tomorrow.”
“By 2030, women will control $30 trillion in wealth.”
“The industry was built by men, for men. But the clients are changing.”
“Money equals power, and women need more of both.”
“The wealth gap is

Magic 98.9