SUMMARY
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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.

TAKEAWAYS
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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

QUOTES
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“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)

ABOUT MINDFUL MONEY
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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.

GUEST RESOURCES
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Spencer’s Website: https://www.spencer-sherman.com/
Free Tools from Spencer: https://www.spencer-sherman.com/free
Spencer’s Book:
https://www.amazon.com/Cure-Money-Madness-Financial-Stress/dp/0767928555
Spencer’s LinkedIn: https://www.linkedin.com/company/sherman-financial-inc/
Spencer’s Instagram: https://www.instagram.com/mindfulspencer/
Spencer’s Twitter: https://twitter.com/spencersherman
Spencer’s Facebook: https://www.facebook.com/MindfulSpencer.Financial
Abacus Website: https://abacuswealth.com/getstarted/ Schedule a call today with Abacus to speak with a financial advisor

MINDFUL MONEY RESOURCES
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Monthly Coaching Membership: https://courses.mindful.money/mindful...
Jonathan’s Book – https://www.amazon.com/Mindful-Money-...
Website - https://mindful.money/
Jonathan DeYoe on LinkedIn - http://linkedin.com/in/jonathandeyoe
Mindful Money on Twitter - https://twitter.com/MindfulMoney_Ed
Mindful Money on Facebook - http://facebook.com/MindfulMoneyPlan
Mindful Money on Instagram - http://instagram.com/mindfulmoneyplan
Mindful Money on YouTube - @MindfulMoney

🎙️ Podcast Production by FullCast: https://fullcast.co/sn

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.