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Speaker 1: 

This is financial detox, helping you retire with confidence. Featuring Jason labrum , certified financial planner and founder of Ida wealth intelligence driven advisors. For over 20 years, Jason has shown people how to steer clear of toxic advice, achieve financial peace of mind and manage their wealth for maximum impact. Join Jason and co-host Alex Klingensmith. As they simplify the complex share industry secrets and provide proven strategies designed to take you from financial insecurity to financial independence. This is financial detox,

Speaker 2: 

Mama . Hello, and welcome to financial detox. We’re back after a , uh , almost a month hiatus out in the I’m Jason labrum in the studio with Alex cling and Smith . Hi Alex, why is my church ? How’s it going? Uh , I dunno , I , can you look ? You wanna raise that up ? <laugh> Alex is I’ll just sitting like four inches shorts. I’ll stand . It’ll go up. No , no , it’s okay . I don’t wanna mess with it . End of year storage , 2021 is coming to an end. Holy cow. It really does seem like it just started. I think a lot of people say that the last year was like slow motion because of COVID. And then this year, at some point , you mean 20 right last year, 2020. And then this year, at some point in the year, it just got fast forward was turned on. Like I don’t, if I like it, because it’s just seems like life’s kind of a blur when you were coaching two or three different teams simultaneously and going to dozens of games per week or weekend or whatever. Right. That was crazy. That happened. That did happen. Right? That was fun. But that was just in the nights, man. I mean, where did the days go? Well , you have a day job too, right? Oh yeah . <laugh> you don’t coach yet . Are you ? I’m trying to financially detoxify the world. That’s right. One is the point. That is the purpose of this show is to financially detoxify the world. What does financially detox financial detox mean? Alex? How do you describe it? Cause I know how I describe it. Well, for example, yesterday, we , uh , had a , a host from dimensional funds, right? Bad Brad diamond . I like Brad. Yeah, he’s great. I like his sense of humor cuz he’s kind of dry. I think’s , he’s totally dry. You gotta pay attention. He’ll say something funny and you’ll be wait a minute. That was funny. <laugh> head of wealth management of, of Canada for dimensional funds, which is a large fund family that we subscribe quite a bit here , very close to their in of philosophy for many years it helped us quite a bit. But the reason I bring up that is because we hosted that event yesterday. It was a live webinar, right ? Mm-hmm <affirmative> virtual webinar. So, but it was not about investing at all, which I think is part of why financial detox is cool is because we want to give people a better and different way of thinking about investing. And the reason why I like that topic for yesterday was because we talked about it on the event. There’s a recording that will make available. If you request it, just email, what’s the email address? Which one do we use ? Jason . . Yeah . Yeah . Email that. But the live webinar, it’s kind of long. It’s like an hour, hour and 15. You probably wanna like watch it or listen to it while you’re going for a run or a walk or something. Mm-hmm <affirmative> like this holiday season, you’re gonna be hanging out with friends and family. Probably. Hopefully if you’re , if you’re so lucky. Yeah. Most people go to the topics they have in common immediately. Mm-hmm <affirmative> usually it’s like family, but then it’s like, what’s going on in the world sometimes comes up and what’s going on in the world. You’re usually , it’s pretty bleak. It’s usually like , you know , masks and vaccines and tornadoes. And just not saying that’s not important, but we wanted to give people something more positive to talk about. It was literally or how to deal with that. How to positively think about that kind of stuff. There you go. Or be positive in light of that. That’s right. That’s what this show’s about. Stuff like that. So you year in review, starting with the most recent thing was this positive psychology, but you know, it does transcend to investing in a big way. Oh yeah. Although we didn’t make a lot of those connections cuz that wasn’t the point. My takeaways were, you know, meditation like having that time, even if it’s five minutes a day, the fact that you do it consistently, it’s not how long you it’s how consistent you are in doing it. You know, five, seven, maybe you get up to nine or 10 or 20 minutes a day that meditation, which I think seems like a really good way to kind of get grounded again. Cuz we all go so fast and where does a year go? And when you go so fast, if you don’t take time to just ground like reconnect with the earth underneath your feet and your brain with your body and your body with your brain and your <laugh> , then it all can just get away from you. Mm-hmm <affirmative> so I think that was a great one. I love the journaling about gratefulness too. You talked about an app called the five minute journal where at the end of each day, take three to five minutes and journal about things you’re grateful for, but don’t repeat yourself. That was a good tip. Huh ? That’s the big cuz . Other than that, you say I’m grateful for food and shelter. I’m grateful for my family. I’m grateful for food. I’m grateful for God. We practiced last night. Whenever we say a prayer at dinner every night together as a family and we tend to pray about the same few things, right? And I’m like, oh no, no we’re gonna do a new one today. I learned something today. <laugh> good. You did. Yep . You put it to you last night. That’s cool in that , in that sense it was. Yeah . Which prayers are in a form of gratitude usually. Totally . Yeah. And grounding yourself too. Right? Just going like whoa. Unplug from our little worlds we live in. I love that, man. I think that you start realizing all the little tiny things you’re grateful for. If you, after 10 or 12 days and you’ve covered all the big stuff and you gotta come up with new , new stuff in your five minute journal of gratefulness mm-hmm <affirmative>. And I think that was that the crux that you got out of is that in the end of the day, happiness is really driven by gratefulness. I got a happiness equation. He covered circle lot . He covered so much that it was , he started I think by proving with evidence research research, some of the best researchers in the world, on the planet like Yale professors and Harvard professors and on psychology and on positive psychology, he basically pointed out that it’s normal to be stressed out. That stress is bad, which we all kind of know these things as common sense, but he showed us how bad it really was. 15 cigarettes a day. Oh yeah. Whoa. Yeah. It’s the equivalent of 15 cigarettes a day. It’s just kind of stress. Yes. That we have control over how we feel, which we all know that too, to some extent, but there’s external factors how to deal with external factors, how to measure happiness. He talked about that. Yeah. And then he put an it’s always an acronym for everything. So PERMA, you know, he talked about PERMA mm-hmm <affirmative> I think the outcome of all that was that you can be positive and happy. You have to choose to and have to learn how to, with tools and techniques, how to kind of constantly work out . It’s never ending purpose. Yeah. I like how he talked about. Some people just are naturally up and happy and friendly and positive. And I think I, I probably fit in that bucket, but then some people like Brad himself are not, they’re just not naturally positive and happy. They’re kind of more just kind of flat and down and you know, not that that’s good or bad, but he was funny about that , that he said that was his dry humor came through again. It was I’m like, are you talking about yourself though ? The way he said it? Yeah , it was funny. But the fact that you actually really can change that and you can become more. That doesn’t mean you need to walk around going, Hey , Hey bro, Hey, Hey . But you can truly even change your happiness by just changing your thought patterns. That’s cool. The one example he gave, he told a lot of stories, which we practiced this year talking about year end stories. Like as a company, we practice how to tell better stories and what are our stories? He told a lot of stories to convey messages cuz he made it personal. Yep . And that’s what I , that’s what I remember the most is the stories he shared. Like he shared about how he loves, you know, new cars and he leases his cars. Even though he knows that’s not the best financial decision or his financial advisor quote unquote , which he probably does have one, but could be us, maybe tells him it’s not a good idea financially, but he does it anyways because he wants the new car. But then as soon as he gets the new car and he’s drive , he makes all the excuses to go and like pick up the groceries and take the kids. And but then after a month or two, he’s like, it’s just a car. Yeah. Exciting newness is over and it’s done and the happiness is worn off and you better have something better, deeper than that. So you can get, and but then he lets us all off the hook and he says, don’t worry. I’m not saying not to be materialistic. It’s okay to, you know , reward yourself and have nice things. But just know that’s not where happiness is gonna come from. Right. Certainly not where more stable, permanent happiness is gonna come from. It’s temporary. I like to draw the conclusions between, I think happiness, peace of mind, positive psychology and how it does connect to investing and financial detox. Because the people who tend to be happier tend to be better clients of ours. Yeah. And the people who have a positive mindset and positive psychology within their DNA tend to be better clients. They tend to be better investors. They tend to better returns. The people who are more negative, if more glass, half empty, they tend to not, you know, seek financial peace of mind. But instead to , to seek financial wins, like how do I beat? How do I win? How do I beat the market? How do I get, I gotta get in. I gotta get out. I gotta do this. Right. I gotta do this. You know, I can’t be wrong on this. I market’s down. I gotta get out. What should I do? They tend to like, over-manage it. And they’re less happy. And they do worse. It’s really hard to have positive psychology. When you look at the markets in that way, because it’s not how to win in the markets for your day trader and you time the market and that’s your deal. God bless you with all of my heart and you know, and all of God’s heart <laugh> . But unless you’re literally a trader trying to trade things and most people aren’t, most people are investors. Even if you have a short time horizon and you can invest short, meaning you’re gonna retire in five years, you’re not done investing. You may be retiring in five years, but you’re gonna be invested the next 35 years. Yeah. The , the results and the, the path to either success or path to misery is almost directly related to positive or negative. Psychology. It crazy. It’s huge. And I think we talk about it all year long and every time we do a show, we talk about the media. So what do you do with the media? Like how do you get information and what do you do with the information that you get? What actions can you take to be a better investor? Um, the show is we are an investment and we’re a wealth management firm. So there’s our, you know, there’s our pitch I guess. But like what do you do with all this information? Like, do you watch the news ? Do you read the news? Do you even care about the news? Do you share the news with friends? Like how do you take all this information and make decisions about it? You know , um , so positive psychology is a great starting point. You know , like by and large, I think from an investment standpoint, not to just be focused on that. Cause I think this conversation is bigger. The news and the media will destroy you because they are trying to sensationalize the moment and whatever’s happening. And they are trying to draw out fear and GRE because they have a job to do. They survive on ratings and your attention span, you are the product that they’re selling to advertisers. So if you think you’re there to get information and they’re there to help you, no they’re selling you. You’re the product they’re selling your eyeballs and your attention. How do they do that? By dramatizing, sensationalizing, everything. They have no vested interest in helping you with your personal finances. They have no responsibility for the things they say or do because there’s an know accountability for what they say or do is their job actually, to sell more news. Right? So this is really bad. From an investment standpoint, I would dare argue in today’s society. That it’s even worse. From a social standpoint, I’ll share a story. This is gonna get really personal. But I’ll my , I poor mom. I love my mom. She’s amazing. She’s passionate. She’s energetic. She’s everyone loves my mom. Last weekend was my son’s fog football tournament. The final championship games . They came down to that. They lost, they got second place. Pretty good, but not first. Yeah, but that’s still pretty great. All those teams. It’s awesome. Went to dinner at our , came back to our house for dinner afterwards. And my mom and dad and I are sitting down and talking about life and we , we kind of go through the normal stuff, like how all the brothers and all the family. And then my mom just starts talking about stories. She’s been reading on the news and they’re all negative. I don’t wanna be insensitive to these things that are happening. Like one of them was about some terrible story. I won’t even go into the detail . It doesn’t doesn’t matter, but, but they’re all negative, really bad things around the country. Not even local. It was like Iowa. And then like Kansas, some tornadoes and like COVID death . And yeah, I’m like, mom, this is depressing conversation. Like, she’s like, well this is important. And she goes all excited about it in a negative way though. And I’m like, why are we talking about someone who died in Iowa or some terrible Erin’s thing? And I , I don’t understand. And , and then I told her about what was coming up on . I’m like, let me change the subject. I told her about the , the Brads time and thing we were gonna do with the positive psychology. And I’m like, I have an idea because I think what’s happening is your phone is where you’re reading your news. Right? She’s like, yeah. I’m like your phone is feeding you more of the same kind of stuff. It’s called an she’s never watched the movie social. I’m like , we tell to watch it . I , you gotta get her to watch it . She , my mom’s very stubborn about the whole world to watch this like 10 times. She’s a very stubborn lady. Um , I have to like go to her house, sit there and watch it with her probably. But I’m like, it’s feeding you more of the same kind of stuff. So all you’re ever seeing is the same kind of negativity. Like I’m gonna send you some stuff and I want you to just read this only for a week. And just, it’s a little experiment with you. My , my poor mom , she’s like, okay, fine. You know ? So she bought in, she’s gonna do it. So I sent her all the stuff on what was the guy’s name? Seligman or yeah, a lot of that stuff. Positive psychology stuff. Yeah . And now she’s just like, this is amazing. Like, all I ever do now is read about good stuff. I’m like, well, yeah , it’s cuz the algorithms are not, you know, they’re targeting you now for different reasons, but we try to self help campaigns and life coaching those . Yeah . But it was pretty interesting. That was a real conversation last Friday. But this is a problem that the world needs to wake up to. Cuz it’s sad. It’s not only the, I was thinking about the, you know, that I’ve long wanted to do like a political show or something that is that’s you are not a Republican and you’re not a, you’re actually an American independent and let me prove you wrong. Yeah . Right. Because everybody has grabbed their team flag and they are so entrenched in their political party when they’re getting 90% of their content from their phones, which is driven by cognitive bias algorithms, which is feeding you only what you want to trying to give you more confirmation bias. So you get deeper and deeper entrenched to your belief system. Totally. The opposite of the book, Andrew Grant rethink again, is that what it’s called? Rethink rethink Andrew grants. Our guy that’s uh , some other guy. Oh Adam Grant. Yeah . Adam Grant. I’m like , I’m like, wait a minute . I knew that Daniel was on . You’re pretty close. Okay. So Adam Grant, but you know, think again and, and he, and I probably have some different political viewpoints, but his whole concept about like think outside of trying to prove that your personal cognitive biases are correct, that your team’s flag is the right color flag and it, you have to plant that flag. Yeah. Instead, why don’t you actually think more like a scientist and go, what is the problem? What are we solving for? What are we looking to fix or correct or improve and then scientifically think about how can we actually solve that. Yeah. And be open to being wrong cuz that’s actually not a bad thing. Be wrong is awesome. Mm-hmm <affirmative> because if you’re wrong, you now know so much more than you knew before you thought wrong was right and being wrong and thinking you’re right. Is way worse than just being wrong. Yeah. <laugh> it’s way worse. And so I think the whole society and world can just change so much if PE would a realize that the media, all media, all sides of the aisle , this is not a political conversation. The media is trying to divide us as human beings cuz the more divided we are and the more entrenched you are in your confirmation bias and your cognitive bias and your person flag, then the more they can feed you stuff and captivate you and sensationalize you and entrench you into this intense feeling. When, if we all turned it off and we started having good, healthy, respectful conversations and debates, we would be unbelievably progressive as a society and get so much better as opposed to going backwards. There’s a part of what you said too, that I think is even, there’s even another way to rethink that. The media there’s a lot of wonderful human beings that actually work in this industry. Think about it. Right. There’s this is not some in the media industry. Yeah. I know . So check, hold on. I know what you’re I know we’re this is , this is rethink I’m rethinking you’re in challenging. Think I’m open the media is this thing like it’s like this thing you can’t touch or see. Right. But it’s actually just human beings like trying to do their job. What they think their job is. Right. I get that. There’s other forces at play that kind of from the top down, say, here’s what you’re gonna do. And here’s how ratings are given and or met. And you know, whether the media’s trying to divide us or the we’re just being divided because of as a result, we have control over that the media doesn’t actually have the control. So it’s kind of like the oldest economic principle I can think of is supply and demand. Right? If we continue to feed and like buy and give them this where the demand, where the product, if we just stop giving them that maybe they’ll change the way they do their job and it’ll be better for all . So how do we do that? Return off the TV. Well, that’s what I’ve been doing, but you have to , I’m not off , off social media for a reason. You have to get off social media because it’s going to continue to drive confirmation and cognitive bias. That’s it ? I guess I do know. That’s what I did personally. It’s not enough cuz me not having Facebook and not having social, you know, any social media except for LinkedIn for business. Cuz I can directly correlate income to my family and the company because of activity and , and business associations. Yeah. Yeah. But like the other stuff I don’t get fulfillment from Instagram or, or Facebook, none like zero, like it’s actually a negative feeling when I see my wife sharing our lives. I’m like, can you stop? Cuz I don’t want that. It doesn’t feel good to me. Right . She’s like, well what do you mean? Doesn’t feel good. I’m like, I just don’t feel good knowing that there’s people out there knowing what we’re doing. I don’t even know who they are. It’s weird. It’s privacy . It is so wrong and weird. The whole thing is so wrong and weird that it’s all about me and my greatness and I’m gonna O you and how great my moment is. And let me just share with you all my greatest moments. And so I can make you feel bad about who you are and what you do. And I can feel really good about me and who I am. I dunno . That’s all, but still here’s but there’s your cognitive bias cuz there’s some people that are doing it just because it , it makes them feel good not to harm others just because it , for some reason that’s how they feel good. They get self-esteem built up because of not trying to harm other people because it makes them feel proud or something. Maybe no . Then there’s people that do what you’re talking about too . Can’t I can’t get behind the fact that that’s good though, to , to self-love and to be proud is not a good thing. I don’t believe that in human characteristics and human behaviors being proud and egotistical is not a good thing. No , no , but I think it’s okay to , to celebrate success. So like if your team, if Grady would’ve won the championship in first place. Yeah . I would’ve probably, I don’t have social media, but I would’ve shared it with my family and my friends, people that I know and that I think they care. Those are the right people to share that you’re right . I agree . But I’m still bragging. Like I’m still bragging to them. No , you’re not now you’re sharing cuz they are asking they are there. They came to the game, they drove down from orange county. Even dinner have friends that didn’t come, probably I’d be like, dude, gritty won first place. Like people in, you know , orange county or something that aren’t, you would tell them that because they care about you. I think so. I hope so. But they could have been like, I don’t care. My kid didn’t win. You’re bragging. You know? No . Cause I was them posting your trips and your dinner , your new Lambo and dinner . I don’t think people analyze it this closely, but it is off putting to me personally. Like I see, I saw that years ago and I’m like, I’m out, I’m deleting this thing. I’m out canceled. Took me forever to figure out how to get off Facebook. For real. It’s really hard. Yes. Holy cow , like website within page with settings and within settings within settings and yes, I’m sure. Four times like, yes I’m out. <laugh> please . Let me go. That is like you can’t , you can’t use it really hard. Try it. I challenge you to get off Facebook. Good luck. Yeah. <laugh> well, it’s certainly interesting. And I think we have to be aware and ready to rethink and ready to have healthy, fruitful conversations with somebody who has a different perspective than you. Cuz the best thing that can happen is you actually learn that you are, you are wrong and then you are so much smarter and so much closer to being right. If you know that where you were was wrong. Yeah. But that’s man people are entrenched in being right. So right . What else should we talk about? I was just saying tie ins to this purpose of this show, right? So the financial detox, I think it’s, I mean, again, I’m going a limb here, but I think that people that care about what we do here in this building and all the other buildings that Ida does work in our purpose is to steward a true financial piece of mind is that it’s probably, maybe sort of interesting to hear how the few , couple of leaders of the company think and like what drives our decision making mm-hmm <affirmative> and how we like feel about these things. Because if I was somebody shopping us, I’d be like, well what do these people really like? Like, okay, I got it. They know how to manage money. That’s implied. It’s like going to the restaurant where the food’s at Michelin, restaurant’s gonna be amazing food, but what’s gonna set them apart and be different than the other Michelin restaurants. Yeah . Or other good at restaurants. I’m not a foodie. So I don’t really go to Michelin restaurants, but maybe he should start. So then for you, it’d be like more like a , a dealership. You love trucks and shopping for trucks. I do. Yeah. You do. You love it man. <laugh> I do not. Yes you do. I don’t care about my truck . No, no. I mean like you like the experience of vehicle, you just I’ve seen you. You think it’s fun. Most people hate it. <laugh> you love it. That’s cuz they grew up on a car on a car lot. But so like if you had like four different dealerships, they all sell the same thing. It’s implied. They have the same stuff. Sure. Why would you pick one over another? Yeah. Cause I know somebody at one. There you go. Yeah . And what about that person would matter and stand out that you didn’t wanna do business with them versus just that they would care about me. That they would care about me and the other place doesn’t care about me. That’s a good point. I love how you got me there. Uh , that was cool. <laugh> um , but when you talk about our firm and you talk about what we do and what financial detox is, it’s really an extension of us trying to care about people and help people. And I mean, I was here last night at seven 30 at night or seven o’clock at night. And actually I was on the phone at six and I was talking to my dad, who’s an advisor, our firm up in Temecula . And he’s like, you’re the only one there working. I’m like, no, there’s like four people here. It’s like it’s six, 15 or a night, you know? And I’m like, no , there’s four people here. They’re not required to be here. They’re just here because they care and they’re doing it . It’s just unbelievable. Right? How much we care about each one of our client . It’s kind of like, like family members. So it is cool. It’s very diff it’s very different, I think than probably what most of our people who aren’t clients of us and have other client experiences. But I’m sure there are also other advisors out there who care just as much as we do and do just as good a job they’re out there. Sure. They’re doing it, but oh yeah . It’s not everybody that’s for darn sure . And it’s a small percentage of the advisor. So you know , it drives the whole, I know that you , we hate this. Word’s hard now to use, but the whole fiduciary mindset and doing what in the best interest of the clients first, all the time. Not just some of the time. I mean, yeah , it’s crazy. I had a person the other day tell me that I was being misleading because I was explaining to a group of people, the difference between a fiduciary and what somebody who isn’t a fiduciary and what that actually means. And that kind of ties into whether you’re with an RIA or with you’re doing business to a broker dealer. Do you disclose all your compensation? Do you disclose the compensation of the broker dealer for selling certain products versus selling other products? Do you get paid three times as much to sell a firm product versus an out outsourced product? That kind of stuff. They literally, this person was affiliated with a broker dealer and said I was being misleading and I stopped and I tried to be like the rethink again. I said, can you explain to me how I’m being misleading? Like in what way am I being misleading? When I’m describing the differences in full disclosure of compensation and fully acting in the client’s best interest at all times. And the conversation just stopped, right ? There’s no rebuttal, but it was just like you’re misleading. And the other thing was, this person said, I’m a fiduciary and they’re not. And I’m like, so now that word is totally ruined. I think you have to add to that nowadays because he’s not, maybe that person is omitting. It’s like lying without lying. It’s like, you’re lying, but you’re only lying. Cause you’re not telling whole truth. Cause you can be a fiduciary on certain parts of your business, but then you could turn around and do for the same client, something that’s under the suitability rules, not tell them. And you were still acting as a fiduciary on part of it. The industry is gonna figure this out. Oh my God , it’s so bad. They have to the poor consumers, the poor clients out there. They’re like, I don’t even care anymore. I forget. I even asked about the fiduciary thing. Like it’s confusing and this is nonsense and I’m I get it. Just , I trust you. I like you. You’re the right dealership, you know, or whatever. Right . I think the industry needs to figure out how to make this more clear. Maybe you and they’ve tried a couple renditions, but the problem is the big lobbying powers and of the broker dealers and different organizations get involved fund management, investment management companies get involved and they go lobby. So that how about the watch dogs ? The watch dogs are really supposed to enforce it and they’re , they’re so busy with other, with the really bad crimes probably that maybe they , that was not so for now’s I hope so embezzling and fraud. And they’re like, look, if somebody says they’re fiduciary and they’re not really, we’ll just give ’em a couple years and we’ll get that one out . Yeah . It should be really clear and simple. This is a whole nother business idea. But yeah . How about the fact that we’re speaking of comprehensiveness fiduciary doing the right thing for the client that we’re we brought taxes in house <laugh> I was gonna say that for the next month’s show, but oh man. Okay. We’ll formally announce that and have a whole show dedicated to that. Yeah , that’d be great. We’ll talk about what that means, but I mean sure. Let’s, let’s announce it right . Well, you know what , one , one thing that’s commonly referred to in our business is there’s a terminology use called a family office and a family office is when a family gets. So what healthy that they really basically hire their own financial advisor, their own CPA, their own estate, estate planning attorney . They have their own family office of financial people that take care of their stuff. That’s typically reserved for the ultra wealthy, you know, several hundred million or more. And we see our business being in one where people really want kind of a one stop shop one way or another, whether the advisor quarterbacks and works closely with the CPA and closely with the attorney and they all work together as a triage of, of support for that client. Or maybe even the next step better is that the client can go into a single location and have everybody literally there. So when they do an annual review meeting, you don’t have to have three annual reviews. You have one annual review and all three people are a part of that. Your attorney, your CPA, your financial advisor. Wow. How neat. So we completed another piece of that puzzle and brought on the tax aspect. So we can do the tax preparation. Jason labrums now doing tax returns for hundreds and hundreds of I don’t just kidding. <laugh> you did say you wanted to get your CPA though. I’m like, are you thinking about sure . Yeah . Maybe that or just maybe not just, but maybe an enrolled agent or, or something. So yeah , you got some extra times spare time . I don’t know . No, I have no , we fine . That’s pretty huge . It comes up in every single client review meeting that we talk about every single perspective client meeting that we’re doing plan design and building a financial plan. Taxes is always there. It seems like an obvious thing that we would do. Right. Well, you know, that CPAs are the most trusted advisor when you rank, you know, investors with a million dollars or more in assets to say, who is your most trusted advisor? I think, or at least this was some data from a while back. Yeah . More often than financial advisor, it was their CPA and we gotta be clear, you know, we will continue to work with lots of CPAs. Oh yeah . Because a lot of our clients have CPAs and we’re not interested in going out and taking that business from those CPAs. We’re interested in collaborating with those CPAs and those who don’t have a CPA or don’t have somebody to do their taxes or, you know, then sure. Well we’ll do the business, but that’s really why may even refer that out if it’s right to refer it out to , that’s totally, there’s certain niche CPAs that I , that come to mind. But I think there’s so many of our clients, as we’ve gotten to this point where we are now, where have 11 or 1200 clients where a lot of people are just bouncing around and like, I, it , my taxes myself one year and then, or my CPA passed away and they’re just ping ponging around and they come back to us like, Hey, can you help? And we’re always like, well, we were , we have to refer it out. So now we don’t have to anymore. Yeah . That’s gonna be cool. Yeah. It’s gonna be really good. So that’s fun. That was a big happening this year. And we continued to grow the firm, add great people and great talent to the team and wow. What a blessing to be able to have these people that we have that support our clients and our clients who trust us. It’s pretty awesome. It’s really awesome. It’s been a really, really, really wonderful year. A lot to be grateful for. Yeah. We cut back on the financial detox in the radio show just cuz we just literally didn’t have time. So now you you’re seeing financial detox once a month and for now that’s kind of the plan, but we’ll see how it goes. Tom was talking about a good spot on the radio for another thing I wanted Tom Tom’s he’s such an awesome guy, man. He’s always got a great idea. Of course he is to go of of course it is . He’s great. All right . So I think that we’ve covered the gamut. It’s been a great year. We want to give a special thanks to our clients, all of the Ida team. Who’s given us the trust and confidence to lead them and take care of them and keep moving forward. We think 2020, two’s gonna be a great interesting year. We’re gonna start the year with our predictions again and make that a annual we have to, we have , we show we’ll look at we’ll listen to the last month’s show first. Maybe get some highlights of what we said. We , we , you know what we, we bet on it actually. Yeah. How much should we bet we got dinner? We’ll find out when we listen to, yeah, we gotta listen to it. It’s been a year, so we don’t do that. Right. We don’t do predictions. We’re not market timers, no crystal balls and magic wands. We try and build long term solid investment philosophies that are rooted in academic by historic da blah, blah, blah. But what we did just for fun is we said like, let’s have a show where we just make a bunch of predictions and kind of almost make fun of the predictors. Um , not kind of, we were making fun of , and now we’ll see if we were good or not at our predictions. I can’t imagine. I don’t think he won the Bitcoin one . No , the Bitcoin , I think you’re right. I checked it this morning and Bitcoin is up like 140% this year from January 1st. Something like that. Yeah. I said it was gonna go down. Yeah . <laugh> all right . Well obviously not very good at that one. Well , financial detox, we thank you for tuning in as always, you can get a hold of That’s Or you can give us a call at eight seven, seven, seven oh seven . What’s their number? I forgot it . 8 7 7, 7 0 7 88 89 . Yeah. Sounds great. Give us emails much better. Usually Jason at financial detox com too . Jason at financial, if you can’t find us , there’s a problem. Something’s wrong. So check us out. Thank you so much for tuning in it’s of detox. I’m Jason labber with Alex cling Smith . We’ll catch you in 2022

Speaker 1: 

To learn more about financial detox and to get access to today’s show notes, transcript and resources, visit financial Call Jason and the team at intelligence driven advisors. If you are ready for financial detox and a better tomorrow, call 8 7 7 7 0 7 88 89 . Get answers to your questions. That’s 8 7 7 7 0 7 88 89 . That’s financial for podcasts and information. And if you like what you’ve heard, be sure to hit the subscribe button. That way you’ll be not fight about upcoming podcasts. You’ll take one more step toward financial peace of mind.

Speaker 3: 

This content is provided for informational purposes only and should not be considered investment advice or recommendations to buy or sell any types of securities. Mr. Labrum and intelligence driven advisors are not responsible for the consequences of any decisions or actions taken as a result of information provided in this program and do not warrant or guarantee the accuracy or completeness of the information provided the information discussed today, reflects the views of Mr. Labrum and his guest . As of the date of the show and are subject to change without notice past performance is no guarantee of future results. Any forward looking statements or forecasts are based on assumptions and actual results may vary from any such statements forecast, no reliance should be placed on any statements or forecasts when making an investment decision. Accordingly listeners should not rely solely on information provided today in making any investment decisions. There’s a risk of loss of investing in securities, including the risk of loss of principle, different types of investments, involved , varying degrees of risk. And there can be no assurance that any specific investment will be profitable or suitable of for particular investors, financial situation or risk tolerance, asset allocation and portfolio diversification cannot assure or guarantee better performance and cannot eliminate the risk of investment losses.


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