Mindful Money 078: Jamie Fiore Higgins - First In, Last Out: Beating the Addiction of Goldman Sachs
Upcoming Event!
How Can Mindfulness Help You Reach Financial Independence?
Do you want to reduce money anxiety, but don’t know who to trust?
Would you like to learn how to set up and manage your own retirement plan?
Do you want to know how we create a passive income stream you can’t outlive?
If yes, join us and learn how to answer the 4 critical financial independence questions:
- Am I on track for financial independence?
- What do I need to do to get on track?
- How do I design a mindful investing portfolio?
- How do I manage that portfolio and my income over time through changing markets?
Learn more: https://courses.mindful.money/financial-independence-bootcamp
Jamie Fiore Higgins spent almost twenty years at Goldman Sachs, reaching the pinnacle of her field by earning the role of managing director. One of just 8 percent of Goldman employees to earn the managing director title, she was the highest-ranking woman in her department. She ran the trainee and internship programs, was active in the Women’s Network Committee, and managed top equity clients and $100 billion in stock.
Today, Jamie joins the show to discuss the abuse and misogyny she experienced in a toxic Wall Street environment, what led to her departure, and how she regained her own sense of moral clarity.
📺 Watch on YouTube
Key Takeaways
00:48 – Jonathan introduces today’s guest, Jamie Fiore Higgins, who joins the show to talk about how her familial history impacted the formation of her own beliefs about money
08:14 – Jamie’s experience at Goldman Sachs
17:34 – First In, Last Out, misogyny, and buying into the lifestyle
23:15 – Jamie reflects on losing her own sense of moral clarity
32:14 – The Spreadsheet of Freedom
37:07 – Advice Jamie would give to young female professionals starting out
40:10 – Fixing the industry itself
46:05 – Hard work, mentorship, and doing things your way
49:11 – Jamie’s current project
51:24 – The last thing Jamie changed her mind about and one thing she would want others to know about her
55:31 – Jonathan thanks Jamie for joining the show and lets listeners know where to connect with her
Tweetable Quotes
“I think, for me, that mindset that I kinda inherited from my father and a little bit from my grandfather is what fueled my almost twenty years at Goldman. And then I started seeing what that cost me.” (06:50) (Jamie)
“I did well at first because I have a really good head for numbers, I have a work ethic - I was first in, last out - and I was really good with my clients. But what I realized at this part of my career, when I was five to seven years in, is what really gets you catapulted at Goldman is keeping your mouth shut.” (19:52) (Jamie)
“In order to be successful, I had to put up and shut up. And what I realized was that, over time, when you’re constantly living against your values, when you’re constantly feeling like you’re acting in opposition to what your gut says, it just takes its toll.” (22:19) (Jamie)
“I felt like Charlie Bucket. I felt like I had just gotten the Golden Ticket to the Chocolate Factory. And from the first day they said, ‘Getting a job at Goldman Sachs is harder than getting into Harvard. So, thank your lucky stars that you did something right.’” (27:51) (Jamie)
“Goldman was like an addiction...I couldn’t just walk away cold turkey. I was addicted to the prestige. I was addicted to making my family proud. I was addicted to saying I was Jamie from Goldman.” (33:32) (Jamie)
“Until these firms marry their wonderful goals of ‘We believe in equality, blah, blah, blah.’ They need to marry those wonderful soundbytes with actionable steps. And I think in order to do that, you need a curiosity and you need a humility.” (42:04) (Jamie)
Guest Resources
Mindful Money Resources
For all the free stuff at Mindful Money: https://mindful.money/resources
To buy Jonathan’s first book - Mindful Money: https://www.amazon.com/Mindful-Money-Practices-Financial-Increasing/dp/1608684369
To buy Jonathan’s second book – Mindful Investing: https://www.amazon.com/Mindful-Investing-Outcome-Greater-Well-Being/dp/1608688763
Subscribe to Jonathan’s Weekly Newsletter: https://courses.mindful.money/email-opt-in
Capture the most important benefit of an advisor – behavioral support – without the 1% fee: https://courses.mindful.money/membership
For more complex, one on one financial planning and investing support with Jonathan or a member of Jonathan’s team: https://www.epwealth.com/our-team/berkeley/jonathan-deyoe/
Website: https://mindful.money
Jonathan on LinkedIn: https://www.linkedin.com/in/jonathandeyoe
🎙️
Podcast Production & Marketing by FullCast