Meet Mary Beth Storjhann.
Mary Beth Storjohann, CFP® is the Founder of Workable Wealth, a financial firm focused on a "fun, albeit no-nonsense approach in working with individuals and couples in their 20s - 40s across the country, helping them make smart, educated choices with their money." In addition to over 13 years in the financial industry, Mary Beth is also the author; her book, Work Your Wealth: 9 Steps to Making Smarter Choices With Your Money, debuted as a #1 new release.
Mary Beth has been awarded the "Top 40 Under 40" by InvestmentNews, 10 Young Advisors to Watch by Financial Advisor Magazine, and "10 Best Personal Finance Experts on Twitter." In addition, she has been featured in major news outlets such as NBC, U.S. News & World Report, The Wall Street Journal, Glamour, Women's Health, Yahoo!Finance, CNBC, Forbes, and more.
I got the opportunity to chat with Mary Beth to hear her best financial tips, greatest professional achievements, and her thoughts on the reported shortage of women in the financial services industry.
Why did you decide to work in the financial industry?
I grew up in a family that struggled financially and we lived pay cheque to pay cheque. My parents were hard working but they didn’t know the complexities of finance.
During college, I worked a variety of jobs in order to pay for my education. One of those jobs ended up being a receptionist at a financial firm. I noticed that clients came into the office stressed but would leave feeling confident, and I really felt the value that the firm was providing. It was there that I realized that being an advisor was what I wanted to do in life.
How long have you worked in the financial industry?
It’s been 13 years.
What has been your greatest professional achievement?
My greatest professional achievement has been launching my own business. I’ve built it to the point now were I have clients all over the country.
Going off of that, could be the same, but what achievement are you most proud of?
The achievement I’m most proud of is creating a business on my own terms with clients that I’m passionate about working with.
How do you define success?
I define success as being passionate about what you do and making an impact in other people’s lives. I believe it’s about continuing to evolve in your education, it’s a life long learning model.
What leader inspires you?
Brené Brown inspires me. She’s the author of Rising Strong, a book about getting up after failure.
It’s been reported that there’s a shortage of women in the financial services industry. What do you think is the best solution to help encourage women to enter this industry?
If we’re going to fix this shortage, the industry needs to focus more on mentorship and create career ladders into management positions. As well, we need more education on how this is a career that impacts people’s lives, it’s not just focused on the sales level. It’s about empowering and helping people.
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What are the most common financial mistakes you seeing being made?
Doesn’t matter if someone is 25 or 65, a common mistake I see being made is a lack of clear-cut goals; people aren’t clear on what’s most important to them. If you don’t feel good about where your money is going, you’re not going to be happy.
What is your number one financial tip?
Break down steps and goals by making them into small bite-sized pieces; it’s all about taking it one step at a time to put something into place. For example, let’s say someone wants to open an RFIA account; they should first break it down simple steps. Decide who you’re going to open it with, then open the account, then transfer the money, etc. Don’t decide to do a task all at once, it’ll be overwhelming, make it a journey.
What’s a fun fact that most people don’t know about you?
I’ve been to Europe 6 times! My favourite city is Rome, Italy.