Q&A With Cary Carbonaro, Author Of 'The Money Queen'

Cary Carbonaro is a Certified Financial Planner with an MBA in finance, and has over 25 years of experience in financial services. Her latest book, The Money Queen’s Guide: For Women Who Want Build Wealth and Banish Fear is an Amazon #1 Best Seller in the U.S. and several other countries. She is currently a Managing Director with United Capital Financial Life Management.

In her recent Twitter chat, Cary talked about how she built her business, one client at a time, and why it's never too early to start investing.

• Building A Business

What led you to be where you are today in your career?

It was an evolution. I started out in banking and I loved helping people the most. Then I went into the marketing end of the business (investments) I didn’t feel like I was impacting peoples lives with that so I decided to build my business from scratch one client at a time by myself without an organization behind me. I was a solo practitioner or President of my own firm.

How did “The Money Queen” come to be? 

Great question, my profession is 20% female and 80 %male. Not only am I female but I am an alpha female and someone in my firm nicknamed me it. I thought it was a great name!

Did you have a moment of clarity when it came to your career vision? 

No, I am not sure if anyone does. It is a journey always. It is always evolving. Writing a book, promoting a book and doing TV is totally different from my day job and I am doing all of it.

What has been your biggest career challenge to date? 

Being able to do it all! Balancing work life. My husband says this has to be a money queen free zone.

What daily habits do you have that contribute to your success?

Tenacity, high standards, unlimited energy

• Being Financially Free

What do you think is the most important trait in being a trusted financial advisor?

Being open, honest, and transparent. I have always been that way. I am an open book, I tell the good, bad and ugly. Clients need this.

What is the first thing young professionals can do to secure their financial future?Get an education (don’t overpay for it) work hard and smart, start your 401k and don’t spend more than you make.

What do you think is the most common pitfall women face when it comes to their financial security?

We think someone else is going to take care of it for us. This is one of the premises of my book, “The Money Queen’s Guide For Woman Who Want to Build Wealth and Banish Fear.” You have to own this yourself. You will be responsible at one time of your life so the sooner you learn this the better

How early is too early to start investing?

No such thing, the power of compounding interest is amazing. The more time you have the more you get to see it!

• Women and Business

What is the most important strength that women bring to business?

I think every woman is different but we are really great at multi-tasking and lots of energy!

What’s the most important thing to do to grow a business?

You are talking to someone who is a sales and marketing person. That is my strength but I don’t think you can grow any business without it.

What is the most important thing about building a good team?

Good people who have different skill sets than you. My staff is better at details than I am, I am also all over the place literally and figuratively so they keep me grounded.

How do you keep evolving at work?

Always learning and challenging yourself, new tasks, new mediums, etc.

• Inspiration

Who has been the biggest influence in your career journey to date?

My dad. Unfortunately he is no longer with me but I think he sees my successes from Heaven.

Who inspires you?

My dad inspired me but I am really internally inspired. I want to help woman and that keeps me inspired.

What role do your values play in your every day work?

I spoke earlier about being open and honest, I do that every day.

What motivates you daily?

Helping people!

Do you have a role model?

Janet Yellen, Gloria Steinem and Madonna all for different reasons. I love woman who make it to the top of their professions, woman who change the world and woman who reinvent themselves.

How did you define your professional mission?

To help woman achieve their goals, live there best financial life and be an advocate for them

• Getting Ahead

What are your thoughts on mentorship and reverse mentorship?

I run the mentor program at my current company, United Capital. I am a big fan of it. I have never had a reverse mentor but I would be open to it.

What’s the best piece of #advice you ever got? Start investing at 21.

What advice would you give your 20-year-old self? 

Be patient, I would tell myself that today too.

What is your favorite success story in your line of work? 

That is a hard one. Let’s go with Janet Yellen! The first female fed president!

How important has networking been in your career journey? 

I have been a networker before it was a word. I wish we had all the amazing social networking tools 20 plus years ago. Then I would be connected with every person I ever met. I was founding president of my sorority in college so I could network all the woman I knew!

What advice do you have about creating a personal brand?

Mine is the Money Queen, I have a book, more coming, a website, a color and a look and feel. It is an evolution.

How do you stay resilient when things get tough? 

My husband helps me with that, he is amazing at keeping me positive. My staff is pretty awesome at it too!

What has your work experience taught you about life? 

It is a journey of ups and downs and to enjoy the ride!

Why is it important to invest in women? 

Why not, we are the future, we live longer, we have so much to offer and it is about time!