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Spencer Sherman is a financial advisor and the Founder and former CEO of Abacus, a values- driven financial planning firm in Northern California. He’s known for his mindfulness-based approach to money. He’s the author of The Cure for Money Madness , and he’s a proponent of this idea that our formal training and expertise in finance take a backseat to emotional intelligence, which enables us to make better choices rooted in balance, kindness, compassion and joy.
Today, Spencer joins the show to discuss his mindfulness-based approach to money, his meditative practices and his thoughts on the ever-changing financial industry.
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Key Takeaways
00:52 – Jonathan introduces today’s guest, Spencer Sherman, who joins the show to discuss what he learned about money growing up in Queens
07:44 – Fixed money beliefs that held Spencer back
14:07 – Why Spencer named his company, Abacus
16:24 – How meditation and silent retreats have made Spencer a better financial advisor
23:34 – Getting started with meditation
25:10 – How the financial industry has changed over the years
35:57 – Spencer shares his concern with ‘abundance mindset’
42:55 – One thing we can do to increase personal and financial success and one thing to completely ignore
46:51 – One thing Spencer would like others to know about him
49:12 – Jonathan thanks Spencer for joining the show and lets listeners know where to connect with him
Tweetable Quotes
“Growing up, I thought [money] was paramount. And, of course, it led me to do some very unhealthy behavior like becoming this incredible workaholic in my early twenties. I sort of sacrificed my well-being, and those really fun years to this devotion to making money.” (08:53) (Spencer)
“I think a lot of the ideas in Buddhism really work well with how we think about money and how we plan our finances. Everything the Buddha said about not grasping for things, that generosity is the path to abundance. These kinds of messages have worked really well with being a financial advisor.” (15:06) (Spencer)
“I’m a big believer that doing something is way, way better than doing nothing. Having little successes is better than one big success.” (20:10) (Spencer)
“I think there’s a lot more awareness of the need for a financial advisor, of the need for objectivity.” (25:23) (Spencer)
“I think one of the most amazing things about having wealth is this ability to impact the world with your wealth.” (40:20) (Spencer)
Guest Resources
Abacus Website Schedule a call today with Abacus to speak with a financial advisor
This podcast is for informational purposes only. The opinions expressed are not the opinions of Abacus Wealth Partners, the firm that Spencer founded. Should you wish to connect with a financial advisor, we welcome you to schedule a free introductory 15 minute phone call. Once your financial needs are understood, we would be happy to help you find the best fit
Mindful Money Resources
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