The Financial Detox® Show

Financial Detox® is the path to helping you make the most of your wealth!
The Financial Detox® Show2022-09-12T18:26:43+00:00

Enjoy our most popular Financial Detox® Shows posted here

Listen to The Financial Detox Show to gain expert insight into the latest financial planning topics and trends. Enjoy our most popular shows on demand now.

September 8, 20221:19 am

Bearing The Fruits Of Proper Wealth Management Through Travel With Estee Gubbay

Jason started the show by introducing a special guest Estee Gubbay, who is a luxury travel expert with Luxurist Travel. Thomas Ohanesian, a wealth adviser on the Financial Detox team at IDA, also joined Estee and Jason in the studio. He talked about how everyone is fed up with talking about the elections and all the nonsense that is going on around the world, so it is perfect timing to pivot and talk about wealth management and bearing the fruits of hard work by traveling. Estee is a travel specialist who just wrote the exciting book Your Travel Bucket List, which will be available on Amazon. The book is a combination of a travel guide, self-development tool, and portfolio planner for travel all built into one book.Jason and Estee discussed the challenges and their experiences with writing their books, and how it is a very challenging process that takes a [...]

September 8, 20221:10 am

Medicare Insurance With Special Guest: Brian McArthur

Jason starts this week’s show off with an introduction to special guest speaker Brian McArthur from Bridlewood Insurance Services, a Medicare Insurance Agent. Jason asks Brian to set the record straight with the timing of enrollment and the choices available. Brian takes Jason’s lead and explains that Medicare is a deadline driven industry that markets with fear to obtain your business. By age sixty-four, be prepared to receive more marketing material than you could ever imagine. Be proactive and reach out to an agent sooner than later to begin the process of learning what options will be best suited for your health insurance needs. Alex joins the conversation and reinforces the need to speak with a Medicare insurance specialist and adds that the complexities within this space are difficult to comprehend without the support of a subject matter expert. Jason continues the conversation by outlining Brian’s role as a [...]

September 8, 20221:08 am

Investing 101- Delivering Value

Jason and Alex started by talking about quantifying how we deliver true value to our clients as Fiduciary advisers. Jason explained how numerous clients have reached out to him because they were very nervous about the market around the election. They explained how some of these behavioral mistakes are not just 1,2,3 percent negative decisions. This could result in much more than 10, 20, 30+ percent negative decisions. Jason talked about not being able to time the market in a reliable manner, and even if you get it right the first time, there are no guarantees that you will get it right the second time. It is the job of a Fiduciary adviser to tell their clients no when they want to time the market, and stand up and protect their clients. Jason explained how his clients are afraid of a Biden win or a Trump win, and the [...]

September 8, 20221:03 am

Investing 101- Asset Class Selection

This show launches show number one of the series. “Financial Detox Investing 101”. Jason shares a recent experience while traveling with some individuals who are well versed in business but have been misinformed based on the overload of information when it comes to investing. Information that is presented in multiple mediums, none of which is pointed and direct in helping them understand what they should be doing with their accumulated wealth. Alex enters the conversation by stating that often people will, quoting the phrase, “buy what you know”. People tend to buy stock in companies that they know or products that they use and trust. This series will cover five necessary components. Things that you or your adviser should be doing daily to manage your assets. This show, one of a series of five, will focus on Asset Allocation. Alex and Jason go into defining the different asset classes [...]

September 8, 20221:01 am

Conflicts Of Interest In The Financial World

Jason and Alex started by talking about how they were excited for the 1st presidential debate, but they slowly became more and more disappointed that Trump and Biden are the best representatives that this country can offer its great citizens. Jason talks about how he was watching the debate with his wife and kids, and they had to turn it off because it was not something appropriate or positive for his young boys to be watching. Alex asked if Jason’s kids Dax -9 and Luke -11 had shared their perspective on the debate, and he talked about how he has observed that his kids and most kids almost always mirror the views and ideas they observe from their parents.Jason and Alex discussed how politics have become a show at this point, and how our country’s founding fathers talked about how it would lead our country down a bad path [...]

September 8, 202212:58 am

Prepping For End Of Year Financial Decisions

The end of the year is near. The time is now to prep for year-end decisions. Today’s show covers topics around year-end planning and reviews the things that you have control of within your financial plan. Alex starts the show with discussing interest rates. Rates are at historic lows in terms of borrowing and you should be exploring your options to take advantage of this low rate environment.Jason shares a story about a client that he recently spoke with were it did not make financial sense to refinance and to watch out for toxic information. This client was initially led into thinking that since everyone has been talking about refinancing. She should as well refinance. This is not always the case and working with a trusted professional is key. Alex discusses how banking institutions are requiring investment assets to be moved into the lending bank prior to loan approval [...]

September 8, 202212:55 am

The Social Dilemma

Jason and Alex start the show by talking about a movie The Social Dilemma, a film first played at the Sundance Film Festival. The movie was created by a group of tech mogul executives and others members of the major social media companies. They discussed how we use social media for IDA as a business, but they are conflicted internally about whether or not social media is a good arena to share content based on how it is destroying everything good in our country right now.The average child has a cell phone at age 9, and they are exposed to YouTube and all major social media sites at such a young age, where their minds and opinions are molded. Jason humbly expressed that we are not proclaimed social media experts, but we are investment experts. He also explains that these platforms are designed to distract and reward distraction and [...]

September 8, 202212:52 am

The Three Headed Hydra

Jason and Alex open the show with the analogy, as one problem goes away, new issues arise. Like a never-ending problem. Jason touches on the election and how people choose to process information. Information such as the current issues in our economy and the issues that we are facing as a society. Alex and Jason cover some of the biggest questions that are being asked by clients during these unprecedented times. Jason comments on clients wanting the firm to recognize that, these times feel different and that we are in a period in the market not like anything previous. Jason and Alex continue with discussing the benefits of having an adviser that provides a strategy and a consistent process that guides them through difficult times. Jason continues with discussing the ideologies of Intelligence Driven Advisers (IDA) the investment firm associated with Financial Detox.The discussion Segway’s into how markets perform [...]

September 8, 202212:49 am

Tax Efficiency And Investing

In this show, Jason and Alex talk about the importance of integrating and closing the circle of advisers for a client. It is extremely important for a financial adviser to be working with the CPA to collaborate on behalf of the client to make sure their financial lives are maximized. Clayton “Clay Willits” was a guest speaker on the show, and he is IDA’s newest member of the team and leader of IDA Tax. He got his CPA license back in 1984 in CA and has been working in public accounting, tax, and then went back into the private industry as a CFO for several industries. The last 18 years, he has been working with individuals completing their tax returns and assisting with various levels of tax planning.Clay was a board certified flight-instructor.Jason explains that incorporating the tax advice and financial planning together as a one stop shop is so [...]

September 8, 202212:47 am

Financial Products- What’s Best?

Jason Labrum opens the show with a story about a new prospective client who at the end of 2019 had 2.9M in investable assets drop to 900k within nearly nine months. After looking into what the portfolio was comprised of, is was apparent that the client had been working with a broker dealer who had sold them two highly commissionable products. The products were BDCs (Business Development Corporations) and Non-Traded REITS. A commission to the broker upwards of 15%.Alex Klingensmith adds that at a one-million-dollar investment the commission would be paid to the broker dealer first and the client would start with 850k investment. In addition, and unfortunately for this client, these products did not experience the rebound that the market experienced during that nine-month period.Jason and Alex continue the topic of, Investment Products, a discussion that will help their listeners think about, what is being sold to them [...]

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