Episode Transcript
[00:00:00] Speaker A: Foreign.
[00:00:15] Speaker B: Welcome to Battle Ready. On this show we talk about what helps leaders stay ready when pressure rises, conditions change, and the next decision matters. You know, readiness is not only about having a plan and it's also about the mindset, emotional discipline and self awareness for the person making the plan. Today we're looking at what a leader does behind the business. Entrepreneurs can spend years improving strategy, system, sales and execution while paying much less attention to the beliefs and patterns influencing how they respond to uncertain growth and responsibility. My guest, Marina Painter, a Transformers transformational leader and business mentor who helps entrepreneurs and founders align mindset, vision and leadership to unlock sustainable growth. Her approach emphasizes abundance, emotional intelligence and purpose as founders or foundations for both personal and professional transformation. You know Marina, welcome to Battle Ready.
[00:01:09] Speaker A: Hi Ricky. Thank you so much for having me here. I am so, so honored and so looking forward to this conversation.
[00:01:16] Speaker B: So am I. You know, we had quite a little bit of a conversation prior to getting on here and you know, talked a little bit about the show Battle Ready and, and what the whole gist of it is. It's about how did you get to where you're at and what helped you make some of your decisions and tell us a little about, you know, where you, where you come from, what, what your background is in school wise and how did you end up starting and owning your own business?
[00:01:43] Speaker A: Okay, well, so I don't know, let's see how much time we have for me to give you the whole history, but I'll shorten it up for you, make it short and sweet.
So let's see, back when I was in high school and I come from a family full of doctors, my, my, my father's only sister was a doctor, my mother's siblings were doctors or nurses. And I looked at myself and I said to myself, you know, I love medicine but I love numbers more. So what is it I'm going to do with numbers in my life? And mind you, I'm like 17 years old and I read this article because I most definitely did not want to be a teacher as much as respect as I have for teachers. I, I love the summer hours in the flexibility. I just didn't like the pay. I wanted to pay with it. Right, sure. So in world of respect for teachers, by the way, so, and I read this article and it said the most three guaranteed jobs and number one was a doctor because people always get sick, right. And they need to see some attention. Number two was it and it said funeral parlor. And I'm like, yeah, I'm okay with living People and number three was tax accountant. And I'm like, bingo, death in taxes. And that's how I chose my career. From 17 years old, I was on the track to get my cpa, get all the credentials of, you know, my, my accounting degree, my international business degree, then my cpa. And then I told myself, by this age I'll be on my own. So, so every job I took was strategically placed in my career path so that I would be well rounded with my experience and knowledge so I could go on my own.
So that I allowed myself 10 years from that point.
[00:03:33] Speaker B: So, so then you decided to go on your own and start your own business.
[00:03:37] Speaker A: And then instead of 10 years, this happened in seven years. Because in seven years I told myself, you know what, I actually ready, I actually know more stuff. And that's, you know, know what helps too because you're so in it. And I really, truly devoted myself 100%.
Every waking hour I read something to do with the tax law, with the, with the court cases. So I was in it, truly in it. So when I, when I found out that I knew more than my peers and my partners and obviously don't discredit them, but that's when I had the comfort of making that decision. And you know, I'll tell you, it was as much as you think you're ready mentally, but it's a whole different dimension of you, right? Because it's a different experience. The things that, the emotions you've never experienced before because that's the unknown. I still remember to this day. And it's been almost 20 years that I've been on my own to this day. I remember getting in my car and driving from the parking office, from the parking lot of my office and seeing my office in the rear view mirror and saying to myself, what the hell did I just do when I put in my resignation?
And that's. And when I opened my own office and I had young children, I had a one and a four year old and I'm like, okay, well now it's Marina time. Either sink or swim. And it's going to be up to you. If you succeed, it's up to you, right? It's on you. And if you fail, it's on YouTube. Right, but that your own responsibility. But, but that is the best decision that I've ever made for myself and my family.
[00:05:23] Speaker B: So can you talk about some of the steps or where. What was the thought process you went through in making the decision to put in a resignation and going out on your own? I Mean, that's scary, right? And a lot of people want to do it, but don't know what to do or how to get set up for that. Can you help them a little bit?
[00:05:43] Speaker A: And it's even harder when you have to leave a very well paid job. I was making over 100,000 at that time, almost 20 years ago. That's. That. That was a very, very good pay, very comfortable living. I love my glamorous office, my suit, my. My tile floor, like just, just marble and glass. It was just high tech everything. It was just beautiful, right?
Had so much pride walking into that office. But I knew that I am an employee. This is not mine. This is not what I've built and created. So I knew that for me, at that point of life, it was my time to do it. Now it's either now or, because later it's going to be only harder.
And especially when you leave that comfort and you have nothing to fall back on. Absolutely nothing. There's no paycheck coming in. That's scary. That is very. Especially when you have so many responsibilities. You have mortgage, you have little kids.
My biggest driver was, I really wanted to build legacy for my family, for my children.
And now fast forward 20 years, almost later. My oldest is in college studying, guess what, to be a tax attorney because she wants to join the firm. My youngest, who is almost 16, she's also planning to join the firm. So to me, that is the biggest reward that me as a person and a mother that would ever want from this life. Not even monetary side of it, just the legacy.
[00:07:28] Speaker B: So and so those were your goals to get there. But talk about, let's talk a little bit about the fear. Was there fear about, okay, now what? Am I financially ready? Was there some steps you took to, you know, prepare you to maybe go out there and have some struggles or you knew everything was gonna go perfect. Talk about that. What would you tell somebody out there that's really thinking about going on their own and, and what they need to be ready for?
[00:07:58] Speaker A: So the goal is to have that crystal ball. So when you look at it and you see all the answers and you just go buy that, obviously that's not real life, right? That would be just what's the fun in living then if you know everything, right?
So I always tell everybody, it's like having kids. It's never the perfect time. You're never, you know, financially secure enough. It's, it's. You just do it. You just do it.
What I see a lot of people do. And again, in 25 years of doing this, being in this industry and seeing a lot of businesses is that, that people think that they have to wait for the right moment to build up the egg, you know, nest, and just, you'll never. They miss the opportunity. The time goes by, the opportunity goes by. You have to be in that flow to do the, to catch that, that opportunity. Because when the time is gone, it's gone. You can't, you can't take it back. So. So did I think that it was the absolute perfect time? No. It was scary, Cell. And honestly, it was scary as hell. But I knew that. And that's how I've always, inside of me knew that I will figure it out.
I don't care what that is. I will figure it out. That internal strength or resilience, right?
So as scary as it was, I allowed myself to be scared, but not scared that it would be blocking all my decision making.
Meaning that I would allow those thoughts only to the extent to give me clarity on the situation and check my blind spots to make the right decisions and put other avenues or other instruments in place so I can stay on that path.
Boy, was it hard. Absolutely. Absolutely. I remember. And you know, and then you have all this because we as human beings, we all share the same emotions and feelings, right? To a certain degree.
But the conditioning and our internal dialect with ourselves, that's what separates us from everybody else, right? Because perception is your reality. What you tell yourself, the story you tell yourself is going to be the reality you're going to create for yourself. And you have to be very careful at choosing the right thoughts for yourself.
Right? It's that condition in your own mind.
And so when I went on my own, I still remember having the first meeting with the first clients. It was a couple in front of me, and I'm pretty young at the time and, and they're all pre retirements. And you know, you have that. And for a second I had that too, that imposter syndrome, which is interesting because I'm like, me. No, I got it, I know it. Nope, at that moment I had that. And I'm thinking to myself, well, here I am, you know, do I, Am I really ready? And at the same time I said to myself, you know what? When I started answering all the questions, I'm like, you know what? I got it, I got it. All of that just went away. So it was great.
[00:11:20] Speaker B: Well, so when we come back, we're going to talk a little bit more about the transition, what you did to make yourself ready for the Transition and how you got over the impostor syndrome and what helped you build the business you have right now. We'll be right back.
[00:11:39] Speaker A: Now, I don't know if it's me because it's kind of.
[00:11:50] Speaker B: Welcome back to Battle. Ready. Stay connected to this show and every NOW Media TV favorite live or on demand, anytime you like. Download the Now Media TV app on Roku or iOS and unlock non stop bilingual programming in English and Spanish on the move. Catch the podcast version on www.nowmedia.tv. from business and news to lifestyle, culture and beyond, Now Media TV is streaming around the clock. Ready when you are, whenever you are and have it gives you the opportunity to talk to us on the move. So welcome back to Battle Radio. I'm Ricky Chavez and I'm here with Marina Painter. How you doing, Marina?
[00:12:24] Speaker A: I'm good, I'm good.
[00:12:25] Speaker B: You know, before the break we talked about your transition coming from corporate America with the perfect floors and the perfect everything. And all of a sudden you decide, I'm gonna do my own thing.
So you said there was another reason that you didn't share share with us now.
[00:12:40] Speaker A: Well, much, much deeper. So the reason I went on my own instead of 10 years from my projections to seven years, because as life sometimes happens, boy, when it happens, it happens. You just hold on for the ride.
My husband, I was married for a long while and he gets diagnosed with cancer at 33 and loses his battle to cancer. And, and I became as a sole provider for my 1 and a 4 year old and I'm like, oh God, what do I do now? And at that point last year of his life, unfortunately, you know, when standard of care had nothing left. So you just try to find any alternative medicines and anything possible under the moon to just, you know, save the life. And I remember our monthly medications were 6 to 7,000 per. This is in.
So that's 17 years ago. So 17 years ago they were 6 and 7,000amonth. That's on top of your mortgage, on top of the diapers and stuff like that, right? So all our life savings kind of vanished overnight. We went through 86,000 in just nine months in just medications. That was, it was brutal. It was. But, but at the same time, you do what you have to do, right? That's life.
And you are that already you in a pure survival mode. Absolutely.
So.
And when that happens, unfortunately, and you. Obviously we were hopeful, but. And it was just, it's a whole different story. It was up and down, up and down. Debulking procedure 18 hours surgery, it was, it was just a wild ride. And so when he lost his, his battle and I said to myself, well, what do I do now? I need to, because obviously I cannot be as, as a cpa. I cannot be in a tax office till midnight when I have a one and a four year old. So obviously I have to be home with my kids. But how do I make that happen? So I said, you know what? I, I, it can't be 10 years, it has to be now. And that happened to be seven years.
So. And at that time I'm like, well, what do I do? How do I make that happen? Because I literally have no income if I go on my own. I have no back backup plan. I don't have somebody else like spouse supporting me or helping me transitions. So what do I do?
And the, the way that came about. And again, it's interesting how life works out whether you believe in higher power, God or.
I truly do because there's so many life instances when you put your attention to something and you, you ready to make that shift?
It comes to you, right? You just need to make that transition happen and figure out all the rest of the logistics. So there was a small office for sale tax office. And it was a very, very tiny, very tiny small book of business. And I figured to myself, well, I did the math. If I were to buy this, which I, by the way, I have no money because we just spent it all, but if I buy this fine way to finance it, then it will give me a tiny, tiny stepping stone and from there I can grow it.
And that's what I did. So I came. So because our credit was overextended, so I could not go through fi financing through conventional banks because I had mortgage, I had all things right. So I couldn't, I didn't have equity because that was the downturn of the economy. So I said, well, okay.
So I had to go through a couple of friends that I said, please give me financing for two years, charge me whatever interest and I'll pay you back in two years.
So when I ran the numbers, theoretically this should work.
But I've never been on my own. I don't know if I can grow the business. But I knew I had to. I had no choice. I had to, I had to make it work. Some, some way or another, I had to make it work.
And they were very, you know, supportive. They financed me.
And you know what the book of business was 86 people. That was it. That was it. That was, that was probably enough to just Cover a couple months of expenses.
But I, in two years, I quadrupled the business.
And then I've been quadrupling the business every year after that.
So I was able to pay it all back and figure out the schedule to work with my young children, right? Because they were not even in school yet or preschool. One, one was one barely walking. So it's just, you know, you figure it out. You, you, you truly do. Because life, when life happens, as we all know it just happens, right?
[00:18:02] Speaker B: And you know, that, man, that must have been so emotional and, and you know, I'm really sad hearing that. But I think you, I heard you on one of your interviews and, and you, and you're in one of your other interview says that things your back, your background molds you to where you're at.
[00:18:21] Speaker A: Absolutely. That's what defines you. And you have to remember, you know, what is the mindset? What is your mindset? Because your mindset defines you, right? Who you are, how you show up for people, for yourself, for your future, for your past.
But that's the conditioning, that's the exposure to real life events and how you process and react to them. That's what defines you, right? Because there's, and I'm a true believer. I've always been a believer. When there is a situation, you always have a choice.
And most times you have multiple choices, but you have to choose the option that's the best suitable. Unfortunately, a lot of people will default to victim mentality.
And that's okay too, right? Because sometimes life happens and you just, you just like, okay, what, what did I do now? I've never had those thoughts, you know, and because I always remember also my husband, when he was going through chemo and being sick, like going to the emergency room twice in the day and he would be on the floor from excruciating pain. And he was a big guy, ex military rights. He was, he was built and he, he would be just in fetal position in pain.
And he never complained. Not once did he say, well, it's not fair.
What, why, why do I have to do this, right? He would always say, I am so sorry. We'll get through it. It's just a bump in the road. I'm like, that's a damn big mountain on the road. But that's okay. But that's what I'm saying, you know, if he didn't complain and he was, you know, and it was mental, physical anguish, all of the above, the uncertainty of your own life, right? It's uncomprehendable but at the same time, if he didn't, I'm like, I have no, I'm okay, I'm here, right? I'm here. I have the choices to make. At least I have a choice to make, right? It's up to me.
So that's why I. I always thought to myself, you know, yeah, it's easy to.
To say and feel sorry for yourself, but what good is it going to do to you or your family?
Might as well just get up. You know, one of my defining moments, and that's probably where it's coming from. I was raised by a mother that was a professional gymnast. So there was no emotion. Like, emotions did not exist, Right. And it was interesting. So when we moved from Russia and we settled In Columbia, South Carolina, I was 14 years old.
And, you know, I was very active, and I always had a lot of friends. I always loved people. And I remember coming home, like, second day of school, and I just started a school that people didn't speak my. I mean, I spoke British English, but not American, and. But it's people I've never met, and it's whole different continents, like a whole different side of the globe. And I came home and I was a little upset. I'm like, I really don't know anybody. I have nothing in common with anybody.
I don't even know the food they're eating. I don't know any of that.
And I remember coming home, my mom was like, all right, well, okay, well, the way I see it, you have two options. Option number one. And by the way, I was not crying, but she's like, option number one, you can cry your eyes out and be sad for yourself. And option number two, get off your butt, make new friends. And I'm like, my God, that's mean. And I'm like, but my God, it's true.
And that was my moment. I'm like, you know what?
Life will always happen, but it's up to you what it is you're going to do with it, with the new circumstances, right? So, yeah, I could be sad, I could be feeling sorry for myself, or blame my parents to take me out of my environment, bring me some different world.
But at the same time, I was able to choose from myself. I could make new friends, I can play new sports, I can try new foods and all the different opportunities I could have. But it was all up to me.
Same as it happened so many years later in that big transition of life, right? When I was by myself with two girls, it was up to me at Least I was grateful that I was physically and mentally capable to make the decisions I had to make to make this life great in some way for myself and my children.
I was able to do that. So, you know, my, my favorite was when people would say, how are you so strong? Like, you're the strongest person I've ever met. I'm like, well, what choice do I have not to be like, what's, what good is it going to do to somebody?
[00:23:07] Speaker B: No, you're 100% right. I, I'll say this. I know we talked about it earlier. You know, you're, you're a, a veteran of, of Columbia, South Carolina. That was the first place my wife and I went to when we first met. And boy, me, you know, that's a whole different lifestyle down there. When we come back, we're going to talk a little bit about the transition and how your business was reformed and how you help other people with their taxes and their strategies to get better in their ver. In their journey. We'll be right back.
Welcome back to Battle Ready. We've talked with Marina about her journey, what put what came in place and what experience she had that kind of drew her to opening a home business and how she did it. Now I'm going to talk about her company and her Marina. Welcome back.
[00:24:09] Speaker A: Thank you so much. Glad to be here.
[00:24:11] Speaker B: So we the you told me the name of this company as Trusted Tax Group. Did I say it wrong?
[00:24:18] Speaker A: Tax Ally. So that is more of national and it's strategic Advanced Tax Planning. So but the, the main company is, is Ally Tax Group. So Ally Tax Group, it's more locally based, the DMV, D.C. metro area. So we are in Annapolis and, and that has the physical presence. So that's something we're trying, I'm trying to branch out and have more exposure because I'm seeing a dire need that people don't understand. There's so much in a tax code that they can utilize to save an enormous amount in tax but because they're unaware of all the tools. I'm trying to promote advanced tax planning and use that to tool as savings because again, when you save in taxes your own money, you're saving. Right? So instead of giving to the government, you giving to your future self. So instead of working till you're 70, you can retire when you're 40. Right? Those kind of things. And the reason I'm saying like I just did the plan, I just finished it this morning, the guy is making about 400,000. That's with this plan that I just built this morning, it will stay him 127,000 per year for the next four years. Years.
So now multiply the 10 years from now, he's 37, right? And then if he doesn't touch it, he will never have to work a day in his life past 50 ever.
[00:25:50] Speaker B: You know, and that's the beauty of, of the show. You know, I think we talked about it during the, during the break, right? You don't know what you don't know, right? And being an entrepreneur myself, I just go out and make the money. And I'm almost embarrassed to say that I just submitted my taxes for 25 like last week, and I didn't do my, my calls like I should. I was so busy out there doing my real estate thing that it's like, and she, she is my, my check, my CPA is amazing. She, I mean, I'm surprised she just don't beat me up, but she's like, ricky, we need to talk. She'll make the appointments and I'll cancel whatever. And, and then afterwards it's like we're doing everything in hindsight. And that's kind of what you want to do. You, you want to get the people now, you want to talk them, talk them through it. You want to plan for their strategy so that they're not like Ricky here, just like hoping for the best once I drop in there.
[00:26:48] Speaker A: Ricky, you know that saying failure to plan is planning to fail, right? That's.
[00:26:52] Speaker B: Yes.
[00:26:52] Speaker A: Also includes your tax life because a lot of things will be not existent for you once you finish the 1231 month, meaning once December is over and you go into the next calendar year, because we all individual taxpayers are on calendar year. Once you come to January 1st, a lot of things are gone as far as tax planning tools. So you have to do it in the open year. And that's why.
And again, I've been doing this for a quarter century, which is kind of crazy to say that when I say it out loud, but, but that's the, the, the main thing I keep seeing over and over and over. That's why I started the trusted tax ally as a national presence. Because everybody in this country, I don't care what kind of business, not even sometimes business owners, but individuals with RSUs or any stock options, they all need that because they don't know what they don't know. And you know what? The commissioner of the IRS and the support Supreme Court judge both said the same exact thing, that the code was not written in a way for you to overpay in tax. It was written in a way for you to pay your fair share tax. But you need to know the code, right. And all the tools and code, all those tools exist. Right. So. And that, that's when I became a huge advocate on advanced tax planning. I don't believe in that old CPA mentality. You come to me, March, April, here's your bill to pay off. You go, see you next year. Yeah. It's all about planning and timely planning. Timely planning, right. You always have to like when you start a business, you always have to start with the end in mind. What's your ultimate objective? Right. When you ready to retire, you don't start thinking about retirement when you're ready to retire or you think your retirement age, you start thinking about it, you know, in the 30s, 20s, maybe two. Right. All of that advanced pre planning, that's what helps you later on in life. I mean it's never too late. Obviously you still need to think about it. I'm just saying your options are more robust in the years that. It's like getting a loan. You want to get a loan or line when you don't need it. Right. Because when you need it, it's kind of too late and it's hard to get it. Those kind of things. It's all, but it's all life, right. You have to plan ahead. And, and, and obviously in my scenario I played all my life, but guess what? You always have curveballs. But, but it's easier to adjust as long as you have at least a blueprint as to where you think as a person you want to be in this life. Right. And you just have to move forward to. And you know, and I'm fortunate enough at this phase of my life, quarter century being in this environment, in this industry, you know, I've been, I was just, I just got the best CPA of the country award by and best CPA Practice by Financial Services Review and constantly being published in Yahoo. Finance and Forbes and Business Insider and you know, if you Google it's, it all comes up. And again, it's not because I'm doing something different. I'm just bringing awareness to public because there's so many resources and it's only your hard earned money that you get to keep. Right? So keep what's legally yours. Why won't we all do that, man?
[00:30:22] Speaker B: You know what? I listen to that and I feel like you're talking to me and it's a little embarrassing. It's like I love that the fact begin with the end in mind and seven habits. Right? So I think I came out before I came to real estate. I was in human resources.
[00:30:37] Speaker A: Right?
[00:30:38] Speaker B: And one of the things that I always tell everybody about human resources, I was director of human resources up in Boston. And we manage risk. Right, but you guys manage risk also, but in a kind of different mode, right?
[00:30:51] Speaker A: Absolutely, absolutely. And you know what's interesting too, that's where the human component comes in. It's not because I always say everything I do, it's not really, really hard. It's very technical. So you need to know the have or have that technical knowledge, but it's very technical. So if you trained enough, you'll be good at it. Right.
But it's the emotional component. And the reason I'm saying that, again, going back to your mindset, that's why I teach about abundant mindset. And by the way, there's a big misconception sometimes, abundant mindset. Some people think like, I'm just going to sit on the couch, I'm going to wish for things and they just come forward on my lap, somebody's gonna knock on my door, they're gonna bring me all this wonderful things in life and I don't have to do anything. No, it doesn't mean that you don't have to do, you know, the hard things, Right. You still have to have great determination, resilience, you have to do those things. You still have to do things.
But the abundant mindset, meaning, like, you just have to know what it is you want and, and, and stay in that zone, right? Keep moving. Don't get sidetracked. A lot of people get sidetracked, right? And they get deterred and one little bump on the road and they lose focus. Right? That's not what abundant mindset is all about. But going back to that. So the mindset, and that's what I've been seeing with all the, all the clients, all the business owners. It's sometimes it's the internal dialogue. One more time, I'm going to repeat myself from previous segments, but that's what I'm seeing.
They're the ones that tell themselves they cannot. Right? Or they're not good enough. Or especially, especially women. And I do have to say that, especially women, they have that internal dialogue that they're not good enough.
And that's the first thing I always do is change that mindset. Just change your mindset. Because perception, once again, is your reality. If you tell yourself you cannot, you will never be able to do anything. Look around yourself, right? Now everything you have around me, like right now, everything I'm looking at, it's all man made, it's all made by somebody. Are they smarter than you? No, no, no.
They just have a stronger purpose, right. To make things happen. If you have, if you set out to do something and you mean it and you stay on track and you don't lose the sight right of your end goal, you'll get there eventually. You'll get there.
So just, just, just figure out like as of that is the starting point, figure out where you are. Do you like where you are? Change it. It's up to you. It's never too late. It's never too early. Right. Right now is a perfect time I truly believe in.
[00:33:36] Speaker B: But you sit down with small companies or big companies and you help them put a tax strategy together so that they can keep moving forward, they can show growth and they can keep more of their money.
[00:33:52] Speaker A: Isn't it beautiful?
[00:33:55] Speaker B: I think so. I mean, I'd like to keep my
[00:33:57] Speaker A: money 100 and have your peace of mind too. Right?
That's the problem I've been seeing in definitely post 2020. There's so much social media exposure. There are people on social media that speak about things they have no business speaking about or they' take a snippet of tax law and use that in whatever they're using, you know, in a real or whatever. But I'm like, okay, well if you do that because all circumstances are different. And I guarantee, because I am very big on tax like court law and all the precedents and that's how the Congress, right? So when the law gets passed and then we need to know how to interpret the law and apply, apply the law.
That's how we know what the gray area is. But when somebody doesn't have the technical knowledge and speaks about something, there might be a seed of truth in it, but the application of it will be completely off cue because there's so many times somebody will send me something from social media like, is that true? It literally happens all the time, some people.
And, and I'm like, well, it's only true if, if you are in this situation and the sliver of this tax was so, so tiny that you have to be in those precise parameters for that law to be applicable to you. And by the way, you have to do all of those other things because if the IRS audits you, guess what, you're in deep water on this one if you don't do all those other things that people just completely disregard.
[00:35:38] Speaker B: So I totally get that the interesting thing is, and you said it in your terms, but the reality is I tell everybody today everybody has a degree in Google or a degree in ChatGPT, right. So they believe that's everything and that's the way it is. And they don't realize that the professionals are out there who interpret what's all in front of you. When we come back, we're going to talk a little bit more about resilience and how people work with it. We're going to also talk a little bit about people's emotions towards money and the book that I talked that I love to talk about and that is Die with Zero. We'll be right back.
[00:36:18] Speaker A: That's a very interesting topic.
[00:36:28] Speaker B: Welcome back to Battle Ready. Stay connected to this show and every Now Media TV's favorite live on demand anytime you like, Download the free Now Media TV app on a broker iOS and unlock non stop bilingual programming in English and Spanish. If you're on the move, catch the podcast version of at www.nowmedia.tv. from business and news to lifestyle, culture and beyond, Now Media TV is streaming around the clock. Ready whenever you are. So now we're back with Battle Ready with Marina Painter. We've been talking about everything having to do with financial strategies from resilience to emotional intelligence.
Marina, welcome back.
We talked about resilience, we talked about responsibility, complexity and we are also going to give you an opportunity. Marina, how can somebody continue a conversation with you if they want to talk to you?
[00:37:19] Speaker A: Absolutely. The easiest probably would be finding us online at www.allytaxgroup.com it's a l l y tax group.com or emailing us at info at Ally Tax Group. Now there's also Trusted Tax Ally which is Trusted Tax Ally. This is more strategy and more advanced tax planning. If you're interested in that, I'll be more than happy to sit down and go through all the avenues available to you and squeeze every legal dollar possible that you can retain that you work so hard for. I'm your girl for that one.
[00:38:02] Speaker B: Ah, perfect. Perfect. So, you know, we've had some hiccups today and some of the recordings. We're going to come back and we're going to talk about our, you know, we talked about earlier, everybody got a degree in Google and chat GPT and this and the other. And I was reading a statistic, I'm not going to say where, I can't remember where, but one in five marriages and divorce because of money.
And it's not the dollars and cents. It's about the emotional connection that people have to money and how they were brought up, how they, you know, experienced money, how their family had money, how their family didn't have money. And you know, this is near and dear to my heart because me and my wife are like night and day, right? I'm like trying to save, save, save. Here, hide some money. My wife's like yolo, you know, I want to do the experiences, I want to go out, I want to hang up, I want to make sure that I'm spending all my kids inheritance. And I'm like, no, right? Then we read this book and I mean recently we went to Disney World, we took the grandkids and the kids and I think my wife had more fun than the grandkids did, you know. So what are your thoughts about that?
[00:39:07] Speaker A: Well, so money is a very sensitive topic for a lot of people because again, the meaning they sign to it, right? Everything has a meaning. The meaning you give it, right? When news comes your way. And that's just it. It's this piece of information and you assign what it is to what it is you're hearing, whether it's good, bad or indifferent, right? Based on your conditioning, your exposure in life, your prior experiences, your upbringing, your family story, right? And how your parents told you about certain things. Same as with money, right? It comes from your conditioning. If you grew up in the family where it was believed that money, money is not good, it's rid of all evil greedy people, rich, whatever, you're going to have that subconscious belief that money is not good. If you grew up in the era of Great Depression or recession, you know that you have to save, save, save. Because it's always lack, so you always live in lack, right? Where money in my opinion is all energy, right? When it's when you have $10 and you go to the store and pay $10 for some grocery, right?
Then that farmer takes the $10, buys the fertilizer with the same, so it's all the same $10. So it's not like we run out of money, we just keep circulating it. That's why back in the day, you remember Ronald Reagan when he, the first thing he did was a tax reform when he cut taxes, knowing that when people have more disposable income by saving more in tax, they get to retain that money in the household, that that means that they can spend more on local businesses. And it sure does work. And that's how it works. Every time the taxes get get raised, people have less disposable income. People Spend less, they preserve less, the market freezes and that's just a normal cycle. Right. Because uncertainty and all the things that come with it. So it's a natural course of events when it pertains to finances and money.
So I believe that.
And you're right about that. So I think the first was money and the second was infidelity, something like that. Because I remember reading the statistics and.
Which is interesting. Right? But at the same time, money allows you to have better opportunities to serve your community, your greater purpose in life, all the things that you want to do. Right. Because you know, we all start out in life different obviously levels, but, but you know, we go through this grind, hard work and, and then at some point, and that's why midlife crisis happens typically, right. Statistically, most sports cards are sold to people in their fifth 50. Right. Because people come to that age and they realize, all right, all I've done, I've worked and they, they're missing out on that self actualization piece. Right. What feeds your soul, who you are, why you here. Right. The money gives you that opportunity to see, serve your greater purpose to, to feed your soul, feed your heart. Right. And, and really show up for everybody else around you at a different level. Because if you don't have money, you can't support your church. The church cannot build a new, you know, wing or different sports program. Right. So money gives you a lot of great resources. So it really comes with your own mindset and the meaning you assign to money.
[00:43:01] Speaker B: Sure. I know that. One of the things I read in the book is like money has no value. It's the experiences and what you do with it that has all the value. Right. That's what you're talking about, giving to the church and the community. Right. And so the other thought is this, people's relationship with money. And when you're seeing and meeting with companies, would you agree that so many people have no idea what they do with their money or how they're spending it?
[00:43:31] Speaker A: To a certain extent, yes.
So you don't know what you don't know. Right. Because if you have certain amount and it's just possibly sitting there and you don't know any better, then yeah, you're not utilizing all your resources. Obviously there's a lot of potential to do with your money. I mean, the best income, as we all know, is passive income. Right. And that would be the goal for everybody to.
I tell my, my girls all the time, you work hard in the beginning of your life so you don't have to work hard for the rest of your life. Right. And it's just the way it is or should be. And it doesn't matter if you come from family that with a trust fund, you know, like in my case, I, I, I was always the, the rebel. And I came from family that was well off. And I didn't take they all. My parents only paid for one semester of my college. The rest of that I paid myself out of my own pocket. I work full time, went to school at night. That's how I did both of my degrees, my cpa, my pfs, all of them.
And so I started with zero personally. I bought my first car and we're still sitting on, you know, counting my dollars from a summer job to take that, the stack of cash to, to the dealership to buy my first car, which was awful.
But I'm like, that's mine and nobody's gonna dingle those keys in front of me. And it's like if I want to go from A to B, this is mine to take me. I don't care what it looks like, it's driving me somewhere. So. But again, and that's my goal exactly in life, I came with nothing. I'm gonna live with nothing because and that's what I tell all my clients, that means that I want my children also have the self discipline to earn their own living. Not only that, if they do that, they have a world of respect for themselves too, right? That the inner strength that comes with it. When you do certain things in life and you having checking the boxes for your own personal development and goals, then they actually can self actualize themselves. And that's what my goal as a parent would be for them.
[00:45:41] Speaker B: Well, so the other good part is as you become, you know, in a position that the money's there, you can have the experiences with your family that, you know, I'm 63 years old. If I wait till I, you know, pass away to give my kids anything, you know, they're going to be in their 60s. I mean, everything's the way it looks like I should live to be in my 80s. They'll be in their 60s. What good is that for them now? Rather than why don't you have the experiences with them now? I think I said earlier when we were talking, you know, we just got back from Disney World where my wife and I took our kids and our grandkids and I think my wife had a better time than the kids did them. Lines are crazy. But they had fun on the rides and she was experiencing with them, all of that. And then she's, you know, as we get older, we'll start doing less. So our need for the money will be less.
[00:46:36] Speaker A: Right, Absolutely.
[00:46:37] Speaker B: So now it's. Do it. Doing things with, with the family. Now I think you were mentioning that you're getting ready to take a trip with them, the kids, to Japan.
[00:46:46] Speaker A: Yes. So. And that's what I told my girls. I don't want anything. I don't need anything. I don't want stuff. I just don't want anything. Don't buy me stuff that's going to clutter my, my house. I don't want it. Same with them. Right. So I'm not going to wait till Christmas to buy them a coat. Right. It's just, it's, it's, it's, it's, it's, it's material stuff. It's not important. What I want is to have the experiences with them and experience life differently with them, whether it's picking up new sport. Like we started playing golf about four years ago, made the team, we started playing pickleball together. It's like, it's just those are the experience and moments that I know they'll remember for the rest of their life, I know I will treasure because those are the moments that are truly, truly important to us. And like, like for Christmas, we're not going to exchange gifts, but we're going to go to a Broadway show and my daughter wants to see a show there. And I'm like, you know what? I'm all for it. In springtime, we're going to go after tax season, obviously we're going to go to France. So those are the, those are the experiences that are more important to me than any gift. Anything else. It's the actual experience together.
And I, and again from personal experience, from the experience of my clients. And I might have mentioned that. But I'm, I'm fortunate at this point of my life to now work with the third generation and all those relationships I've had for 20 some years and seeing people transition through different phases of their life from working or working, having kids and retiring. And there's nothing set more sad than seeing your clients. And I had just couple guys that passed away last year.
They were, for the last five years they've been saying, oh my God, I am retiring. This is the year I am retiring. I'm so happy. We'll do my, my wife and I will go there and do these things.
And one had a heart attack, one had a cancer as soon as they retired.
And they never were able to do anything. So what did you live your life for? I mean, obviously, you know, but that's not what it's, it should be about, right? Live in the moment. Because. And then again in my personal experience and experience of my clients, I, I see it firsthand and I've experienced it firsthand. Tomorrow is not guaranteed. Right now is the only time you have. The past is gone. The past is in the past. You can't take it back. You can redo, undo, redo it. But right now is the only moment that you have a change that you can make. Whether it's experience with your family, whether it go out on your own and start your own business, better your life in some way. Go back to school.
And there's no age expiration on a, on, on going back to school. I had 72 year old woman, my client, she's been with me for 20, 20 years. She just went back to school to get her PhD. She's like, because I want to.
[00:49:51] Speaker B: That's amazing. So Marina, thank you for joining us. You know, and thank you for sharing all your experiences with us and helping people know to live in it now. And what your company will do was help people with their strategies for their taxes so that they can live in the now. The big thing right now is you never have tomorrow and it's never promise. So make sure you have the experiences and live that good life. And doing that, you'll be battle ready. Thanks for joining us. We'll be back with another time and another show. Thank you again.
All right, we made it and we actually.
