Creating wealth and a life that you love

 

On this Podcast Andy talks to accomplished young lawyer Naz Barouti and gets an insight on really important topics from business to personal life and how to balance both. Learn how showing your personality can be an asset in a work field mostly controlled by old standards. 

Andy and Naz talk about the always changing roles for man and woman in the modern world and the importance of looking for the right partnership both in business and in life, and to find relationships that will bring value to you while allowing you to give value to others.. 

They also talk about how to recognize the right timing for moving ahead with creating your financial plan and taking responsibility for your future. 

You will learn: 

  •   About imprinting your personality in your line of business so you can create original value for people.
  • How to turn disadvantages around to make it work in your favor. 
  • The importance of mentorship.
  • How a personal brand can bring value to a traditional business.

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Transcriptions:

Andy Audate

I want to change lives. I want to show people how to progress and their money. I want to show people how to progress their mindset. I want to show people how to progress in their brand so that way they can take care of their family. Take care of the finances and experience.

Andy Audate

Hey naz  thank you so much for joining us today on the progression. So man, I'm so excited to have you today. So now let's take it. I see that George office.I see the plaques behind you. I hear the degree behind you. What degrees is that behind that you have. I have so many. No, I'm just kidding.

Naz Barouti

This one is for the United States tax court that I can represent clients. And then that one is from the Supreme court of California when I passed the bar. And then there's some that I haven't put up.There's more on the other wall.I have an MBA I obviously have my j.d when I went to law school. And then my bachelor's is up there. 

Andy Audate

Man all of this education and you know, I'm, I'm a call, I'm a college dropout. So, I'm ignorant to some of the details of how important the degrees are and in your experience, how important it has caused degrees I've been. 

Naz Barouti

Well, I mean, it just really depends.I think that you can not have the degree of, and be very successful. You can have degrees and not be successful. But when it comes to the law obviously you have to have these degrees and people feel more comfortable when they see that you've kind of. You know your experience and well-rounded in many things.So for me, I had to differentiate myself. I couldn't just become a lawyer. Like I had to specialize in something and I wanted to get another degree. So I can say yes there are so many other attorneys that you can work with. But in addition to. A legal background. I also have like a business planning background.So that was why it was really important for me to get the MBA. 

Andy Audate

So when you got, when you got your MBA, what did you get for? It was it, was it to be an attorney because I see that you're an attorney now, is it to being an attorney or did you get it for another reason? 

Naz Barouti

No, I, yeah, I had already, I had already finished law school and I wanted to, I wanted to get into estate planning and business planning, but I think that.I didn't want to think in a very linear way. I wanted to have another degree to look at the other side of it, the financial planning side of it. yeah, I can, I can legally help you prepare a bit like how to start a business, but I also have to teach. What you should spend your money on and doing budgets and business plans.

And there's so many others, sorry, that sounds like going off. There's so many other layers to helping someone in the legal profession. And I just wanted to have that another layer to add to my resume. 

Andy Audate

What have been the challenges you being the legal profession and in this industry, what have been the challenges as a woman, especially a powerful woman at that being in this industry.

Naz Barouti

Well, I think number one, yes, it's hard being a woman being in the legal profession, but specifically the area of the law that I practice estate planning. It's pretty male dominated and it's very conservative and traditional for the most part. So it's not. Necessarily interesting. You have a lot of, you know, older men that are kind of dominating that field, but it was really important for me to change it and, um, make the topic interesting.And I guess you could say, like, I wanted to make it sexy and fun because no one likes to talk about dying and taxes and all that stuff, but I put my spin on it and my personal personality on it. And a lot of people. Compliment me for the content that I create, that wow. You have a really interesting way of taking a really boring, dull topic and making it interesting and easy to understand.So it was really hard to kind of not go with the norm and just kind of put my own personality on the law because a lot of people tend not to do that. So I think that was probably one of the biggest challenges 

Andy Audate

so almost ten so nine and a half almost 10 years ago when you first entered, what were some of your insecurities that you experienced?

Naz Barouti

I hated the fact that I was young. I still look kind of young for my age and I kind of turned that around and, and made it It became to my advantage to be younger. So when people come into my office and they're doing their estate planning documents they're like aren't you a little too young. And I always say, would you rather an attorney outlive you for these estate planning documents? Or you want an attorney that's going to die before you, and then they realized the importance of like having an attorney that's a little bit younger, more educated about like, You know, the changes in the law and had the energy to kind of go for it and help people and, and be there for the long run. 

Andy Audate

So you took something that was essentially an odd that was against you and you turned it around and you said, Hey, this is how I'm going to make it proud, this I'm going to make it positive.

And in my, my advantage. Yeah. Totally. How do you go about doing that? Like what was the system with the idea or what's the way that you did that? Because some people would soak in that misery and say, look, I'm young and nobody likes me and nobody wants to do business with me and probably quit. Well, you decided to continue to progress on. 

Naz Barouti

I mean, I think I had no choice.What was I going to do? Sit and soak in my misery of being young. And that's kind of like a, that's a funny thing to be sad about that you're young and I just turned it around and I said to myself, I have. So many opportunities to, uh, create a business. That's going to be long lasting and it's going to create a legacy and it's going to change the industry.And I have time on my side and a lot of people necessarily don't. So it's all about mindset. I mean, I could have sat there and been really miserable and sad that people look at me as a young attorney that doesn't know anything, but I just. As you could do it myself and I, I tried to get as much information from different mentors and different attorneys that were in my life on how you can really build a successful practice.I just use time to my advantage. 

Andy Audate

And how, how important have mentors should have been in your practice?

Naz Barouti

I think it's really crucial. I think in the beginning I kind of, um, I fought it off and I think I figured I could do everything myself, but you need a team, a strong team around you, whether they're in the business or they support you.it's really important to have that, that team of people you can always rely on.You can't do it by yourself because you're constantly going to be in your head and you're going to. You know, you're going to make things bigger than they really are. And sometimes you gotta step back and contact someone that you trust to kind of give you another perspective of, Hey, it's going to be okay.I went through this and I support you. It's really important on your journey in this entrepreneur, entrepreneurship train to either have people that support you. Or want to be part of that change if they don't want to then you gotta move on. I always say you're either on my train or under it.So you're either going to, you're either going to get on board or we're going to like, yeah. 

Andy Audate

Powerful mentality you have. So, you know, what I've recognized about you personally is that there's a plethora of different attorneys and different types of law to practice in different types of law. But however, you have a personal brand where I go to another attorneys.social media websites and pages. And it's like a picture of them in that cat that they posted in November, 2016. And then that was it. And then we go to your, your, your online media profiles and we see videos giving value to people, but it's not specifically about law. And how has that been beneficial to your business by having a personal brand where you have thousands of people watching you doing interviews like this in comparison to your counterparts who don't have a personal brand?

Naz Barouti

Well, you got to stand out. I think that in this day and age, a lot of people do mindless scrolling. So they're not even reading most of the things that you're posting or, you know, they're not really watching videos all the way through. So it's really important to grab their attention immediately. And whether that's with thought provoking questions or you know having a certain look you have to move with the times.And I think a lot of attorneys have that old school mentality. It's like, you gotta be professional. You have to have a suit and tie. You have to have a certain hairstyle and it's like, that's not. Yeah. Gonna work on social media. It's, it's just not, I mean, there are a lot of attorneys that have been practicing longer than I have and they have social media, but they reach out to me.How are you able to do these videos and make it interesting? And I say, there's no, there's no trick. I just, I incorporated my personality. And I think with a lot of professions, it's advocated to kind of turn off that. That personal emotion, that personal touch, and just go with a script that's worked for other professionals and it doesn't work like that anymore.

Andy Audate

Gotcha. Gotcha. And then in your, in your industry, let's, let's, let's take it back almost nine and a half. It'll be overnight and half. So let's take it back 10 years ago when you're just, you're just starting out. I'm your cousin or I'm your friend, someone who's close to you. What happened to our relationship as you continue to go and Excel in this business?

Naz Barouti

Like I said, people were either going to be on my train or under it people started dwindling, like flies, not necessarily family, but just like friends in my life, especially being a woman. I think that, there's there and you've heard me say this before. There's a cultural pressure and societal pressure to meet certain expectations as women, we have a biological clock.So I started noticing the more focused I got in my business. And that became my priority. Mmm. A lot of other women that were in my life were going a different direction and they didn't understand what I was doing and what I wanted to accomplish. And they weren't very supportive of it because they were more focused on finding husbands, having babies.And I I love that and that was their journey but it wasn't mine. And they would in the process kind of criticize me and make me feel, um, like I needed to be doing something else. And I fell into that in the beginning. But then I realized, you know, us women, we want a full package, but we cannot be an empty envelope like ourselves.

You want a full package, you have to bring something to the table to match it. You know? So for me that wasn't a priority like finding a life partner. It was more being comfortable in my own skin, establishing like a financial foundation for myself before I let someone inter. My arena, you know what I mean?So I think a lot of people, we just, we parted ways. I mean, I have respect for them, but they just didn't understand the vision. And that was okay. 

Andy Audate

All right, sweet. So let's fast forward now that we're in this day and age, I see you at the grocery store and I say, man, she's beautiful. I want to get her number.I get your number and I want to take you out on a base, go on a date. And I find you interesting now that I find you interesting. What's going to be the, the outcome of the relationship. If I am a dominant man where I am successful in my business, successful in all areas of my life. And I'm looking for a woman who can be a housewife.

Naz Barouti

That's not going to happen. We're going to part ways.First of all, I like consistency and I like people, um, that kind of vibe with me in the sense, like they're taking control. And I think a lot of people have this misconception, cause I'm all about women empowerment that I don't believe women need men.I think women need men and men need women equally. And there's something that men can bring to the table that women can't, there's something women that can bring to the table and they can't, and I'm very traditional in the sense of. I want to be recorded. I want to be respected. I want to be treated like a queen because I am, but I'm also going to treat my man like a King.And so those are conversations that you gotta have before it even progresses. And I don't think that I would ever attract a man that would want two. Have me being just a housewife. Like those kinds of men are not attracted to me to begin with. So I don't think they would ever ask me out and we would even get it to a first or second date that would never happen.And I would say no. 

Andy Audate

What have been the challenges with dating, being such a powerful woman, especially in a society now that men are confused as to how to be a woman, in this day and age, what has been your experience? 

Naz Barouti

I think the problem has been just time having the time to even go out for a meal or share a meal.

So usually if I'm doing something socially or someone's going to approach me, it's business related. So I'm not spending time with people just to have fun and, you know, have a couple of drinks and relax if I'm going to dinner or if I'm going out for drinks or whatever the case may be or a social event it's going to be work-related.So. I'm trying to, the struggle has been incorporating the social life and the business life together and finding a balance. And it's very hard to turn that off and you understand this. 

Andy Audate

100%, 100%. And, and, and now, you know, this is, this is a dope interview too, because I'm going to have women who are going to listen to this.And in my life, I've, I've experienced that too. like that that's one side of the spectrum where. The woman who's hungry and determined and is a Hunter as well as I am, which is what you are. And then the woman who's like, yo, I just want to be taken care of like, you just give me a stipend every month.So I've been as a man I've experienced both sides of the spectrum. And what I'm looking for is the middle. What are you looking for in the type of men that you're looking to be in a relationship? And ironically, would they end up being in the same field that you're in. 

Naz Barouti

Yeah, probably, probably I'm looking for a cofounder.I'm looking for, you know, I had put up this quote the other day or a while ago and it was, you know, I'm just a queen. That's created an empire and I'm looking for a King to help me run it. And. And it's essentially, I want someone that's gonna mirror that same sentiment. Like they've created a successful life for themselves, but they understand the concept of two is better than one in a sense when two strong people come together and they're not stubborn and they turn off their ego and their pride they can build something great.So I live with purpose, purpose over popularity, always. So I need someone that understands that purpose that can contribute to the purpose and has their own identity and purpose. And when those two lives meet. Something magical happens and an empire gets created. That's bigger than I could have ever imagined.So I need someone that is strong enough to understand that vision and also want to contribute to that vision. 

Andy Audate

So we're, we're touching on some, we're touching on some  touchy topics here and it's very, it's very interesting. So when I ask you questions, I'm looking into it, I'm looking at it from two perspectives perspective.Number one is going to be the perspective of the young man. Who is an ambitious man who is looking for a relationship, but not watching the relationship with a woman who was just like, Hey, I just want to be the housewife or just give me money and figuring out how to be in a relationship with a powerful woman.Number one, and number two. I'm looking at it from the point of view of the young woman who's driving in her car right now who is 25, 26 years old. And she's having challenges in dating because she's such a powerful woman. And some men aren't, some men are intimidated by her and share your perspective on life to support and guide that woman.Sharing your perspective on life to support and guide that woman, as well as given some insight to that man who's looking for that. 

Naz Barouti

I think that it's all about trusting the timing of your journey, you know, and I tell people not to live on other people's timelines because someone can find the man of their dreams at 21 and someone can find them at 40.But it's, it's that journey that you go through that builds you and creates character for you to attract who you are supposed to be, whether that's the universe or God aligning it, trust the timing.Oh, you'll just know when you meet someone. You'll just know when you have that. When you feel accomplished and you're like, I want to share this with someone else. And I want someone else to experience this and, and help me create more and, and, and encourage me on like a romantic level, not like a friend family level, then you'll know, it's time to kind of, I don't know, keep your eye out for potential people that maybe they're right under your, your eyes, your, and you haven't even noticed, you know what I mean?

Andy Audate

And from the man's point of view, how can a man, how can a man who says, Hey, I'm interested in a woman who is a powerful woman and I'm nervous that I'm going to be left on the back burner. How can a man court that woman? 

Naz Barouti

We'll see, that's what I'm saying. You have to be very comfortable in your own skin and you have to have your own identity and individual purpose.I think the problem is that a lot of people get involved with. With others they are intermarriages because they feel like they need someone to make them happy. And that's when we see high rates of divorce and like problems in relationships you have to be happy on your own before you can be in a serious relationship.

So for those men that feel like they're going to be on the back burner, you know, when you're at a place in your life where you already feel happy and fulfilled that person's just adding value to your life. So you also, as a man have to. It got to a point where you're confident because she will eat you alive.If you feel like that, you already feel like you're going to be put on the back burner. You don't have the mental capacity to be with a strong woman. 

Andy Audate

Gotcha. So he has to work on it. He has to, he has to work on that. Now let's transition into timing. So I see that you're, you know, you have a one one hectic schedule you're working in Los Angeles, California with high end high net worth individuals.How do you harm harmonize your personal life and your work life? 

Naz Barouti

I'm still, I'm still trying to learn that. I think that, you know, when you love what you do, it almost doesn't even feel like work. So like, when I mentioned to you that a lot of the events that I do that are outside of the office, Are work-related I really enjoy being around those people.And we're, we're on the same wavelength, so that's the way I try to balance it is doing more work events that are social in nature and kind of you know, I'm, I'm starting to. I told myself in 2020 that I'm going to accept many invitations for events. Cause I always used to say no, like I don't have time to be out of the office, but you know, just last week I went to San Diego for a women's luncheon and I, and I told myself that at least once a week I have to go to an event that's outside of the office.Cause it's very hard for me to detach myself from this workspace. So that has been my priority at least once a week, leave the office. 

Andy Audate

I'm grateful to have the progression conference. Now, what is the message that you're going to bring to the audience?

Naz Barouti

My goal is to number one, empower whether that's a man or a woman that's sitting in the audience to know that you can create a life that you love and nothing is impossible.but I also want to show them the importance of what I do which is estate planning and financial planning and provide some. Financial and legal literacy for someone that may not even know what that is. And how do you create wealth? How do you protect wealth? How do you create a life that you love and how do you help others in the process?That's going to be my main focus and, um, hopefully if I can help one person on this 13 city speaking tour, then I will feel accomplished. 

Andy Audate

Now and let me let me ask you from, from a millennial standpoint, You know, you're talking about estate planning and financial literacy and me being 25. What comes up to mind is like, I don't, I don't, I don't need that.That sounded like something for like, Hey man, when I'm 60 years old or 50 years old,

Naz Barouti

Yeah. I think a lot of people have that misconception. I mean, just currently in the news, we just saw what happened to Kobe Bryant yesterday. He was 41 years old and I know a lot of people say, well you're comparing someone. That's a multimillionaire that needs planning. And I just have, you know a condo and a bank account.And what I say is that you don't have to have kobe money or Oprah money to do estate planning or educate yourself about financial literacy. I mean, we are entering a time where we cannot rely on social security and the government to help us when we are older in life. And there's going to have to be some conversations about long term care planning or how.Do we take care of our families if something were to happen when the, when the breadwinner of the family falls ill or an emergency happens. So I always say accidents do not discriminate against age, gender rates when it's your time to go with your time to go and the most selfish thing you can do is leave behind problems for your family or not have.

Your stuff organized, whether that's a small bank account in a small condo that still has like a huge loan on it. You don't want your family to go through the court process and have a complete stranger come in and tell them what to do. I always say, if you don't have a plan, the government has one for you and you're not going to like the plan that they picked for you.

Andy Audate

Mm now, but for, from a millennial standpoint, that 26 year old, 25 year old, who's that woman who's driving in the car to just love what you shared by the way about her advice on relationships. But she sent herself, like, I'm just single little on me. Like I'm not even, I'm not married. I don't have kids.

Naz Barouti

It's even it's even more important when you don't have children, because that's when you have to think longer about who would, I want to inherit my stuff whether that's like an antique watch that's been in your family for generations or you have a retirement account set aside and you have some good money in there.I think it's more important for people that are single to really have these conversations because. They may not like what the government does. I mean, if you don't have a plan, they will distribute it to your next living relative. So your next living relative could be a cousin. And let's say, Atlanta, that you hate and you haven't talked to in like 10 years, all of a sudden they call them up and they're like, Hey Bobby, you just inherited like $55,000.

Come pick it up. I mean, you really have to. Think about what you want and not allow someone else to kind of control your life because we control every little detail of our lives and we put in the time and the energy. I mean, whenever a new iPhone comes out I see a lot of millennials standing in line waiting to buy that $1,000 phone.If you have $1,000 to buy a phone and you have the time to stand in line for hours for a phone, you have time to. You know, deal with these, with these concepts and these issues. So your family doesn't have to. 

Andy Audate

So tactically, what would a millennial or someone who is single without kids, what would they tactically have to be doing?Or should they be doing to prepare. 

Naz Barouti

You know, it's not even about leaving money to a beneficiary. It's also about having power of attorney documents. And what I mean by that is if you become incapacitated where you're in a coma or you get, you know, whatever, you're in a car accident, you can't sign for yourself.

You need to select someone, an agent. To make financial and medical decisions for you. A lot of the times we see young people faced with this issue where they didn't plan properly. And there's no one that can legally sign checks for them, pay their mortgage, pay their car note, and then everything gets repossessed.Or, you know, it goes into foreclosure because no one can access their bank accounts. Because they didn't have the power of attorney or they're in a coma and the families start fighting over whether they're going to keep them on life support, but they didn't have that conversation about, you know, what would I want.And if I'm in a situation where I can't speak for myself, so it's not so much about like leaving behind money, it's also about what happens if you become incapacitated. And like I said, those accidents, they're not going to say, Oh, I'm not gonna, I'm not gonna have this person get into a car crash because they're 25.Like if it's your time to get into a car crash, it's your time to get into a car crash, you know? 

Andy Audate

Right. We unfortunately saw yesterday that Kobe Bryant, 13 year old daughter, got into an accident and both of them passed away.So In having a power of attorney. So the step one number one is to get in touch with an attorney.Is that what it is? Yes. Get in touch with an attorney and then number two, choose them, choose a plan and have them become your power of attorney. And this is, this is what you're doing, working with millennials and other people. 

Naz Barouti

Yeah. I have a lot of young clients actually that come in because they see either friends or other family members.You know, get into accidents and then it's just like a wake up call for them. So they take the initiative. So don't wait for something bad to happen. I always say, when you don't have an estate plan, it's like driving in your car without a seatbelt. If you get into an accident and you fly out of the windshield and you can't tell the paramedics, I want to go back and put my seatbelt on.It's all about timing.so having these documents before something bad happens is key. 

Andy Audate

Gotcha. And then, so now they have you guys a power of attorney. What's the process, therefore after, well, what's the experience there for afterwards, from someone who's an uneducated. So like myself, like from an impoverished area that moved to the West coast and having a brand new experience in life and growing up, what would that experience be like for after.

Naz Barouti

Like after you get the documents and everything,

Andy Audate

after you choose your power of attorney. Now you've got your power of attorney with parents, with the attorney before, after. 

Naz Barouti

Oh, so I create long lasting relationships. It's not like you're going to come to me once and then never see me again. As you grow your empire or you expand, or you decide to get married, there's going to be updates to these documents.So you're always going to come back maybe to me, or maybe another attorney that you feel more comfortable with. So it's never a quick relationship. Estate planning attorneys are kind of like therapists. We're going to be there for you for the highs and the lows, new children, death. Bankruptcy, I'm inheriting a lot of money or making a lot of money, starting a new business.We're always going to be involved in that conversation in that plan. 

Andy Audate

Gotcha. So what's the best way for people to get in touch with you to start, especially with people who are in California. 

Naz Barouti

Yeah. They can visit my website for b a r o u t i. law.com. Or you can visit me on my Instagram  naz barouti.

Andy Audate

And what's the last piece of content that you want to share with the listener that the person that's listening who's saying to herself, wow, this was powerful. I loved what she shared and she has more, what would that more be? 

Naz Barouti

that more would definitely follow me on Instagram and follow me on the 13 city tour, because I, I don't think that.Each speaking event is going to bring the same energy. I think it's just going to keep getting better and better, and there's going to be golden nuggets that I dropped at different locations. So I think for someone that really wants to absorb the information and what those speakers have to bring to the table, I would literally go to all the events, all the speaking tours, because you never know I'm a wild one.One day. I may give you some golden nuggets about financial planning or the other day about legal planning. So you don't want to miss that. It's really invaluable because or I can't put a price on it actually, because when I tell people, when I, I have my radio show, every Saturday here in Southern California, I tell them, I'm like all this information I'm providing you guys, people thousands of dollars for so you should always have a pen and paper when you're listening to me because truly people pay me five $600 an hour to help them with this stuff.So. I dunno, man. If I were you, I would definitely listen to things I have.

Can you hear me? Hello? Yeah. Can you hear me? 

Andy Audate

Yeah, you're right. So yeah, the opportunity is in the show and I have it right here. Maybe you can see it, maybe you can not, but when you, when you show up physically and show up powerful, you are bound to receive an opportunity. So you just want to see not on stage at the progression conference tour 2020, go to progression tickets.com.That's where I put aggression tickets.com and see, see nozzle now. Thank you so much for being on the show. 

Naz Barouti

Your welcome.See you later.

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