Options Explained and What Happened with GameStop

In this episode of Financial Detox® Jason Labrum joins Co-hosts Alex Klingensmith, and Darcy Wadsworth  to discuss various financial topics, including retirement savings, rising expenses, the importance of financial planning, and the incorporation of alternative investments. They emphasize the need for a dynamic and comprehensive financial plan that adapts to changing circumstances. Additionally, they highlight the excitement and transformative power of financial planning in helping individuals achieve their goals and live their best lives.

Takeaways

• Building a comprehensive financial plan is crucial for navigating retirement and ensuring financial security.
  
  
• Rising expenses and inflation can impact retirement savings and necessitate adjustments to financial plans.
  
  
• Incorporating alternative investments can help diversify portfolios and potentially improve risk-return profiles.
  
  
• Financial planning is an exciting and transformative process that can help individuals achieve their goals and live fulfilling lives.
  
  

Chapters

00:00 Introduction and Podcast Update
03:00 Do I Have Enough Money Saved in Retirement?
08:00 The Impact of Inflation and Rising Expenses
18:00 The Importance of Building a Financial Plan
25:00 Incorporating Alternative Investments
31:00 The Excitement of Financial Planning
34:00 Closing Remarks

For more financial advice visit our website and follow us on
Linkedin, FB, and Instagram.

 Welcome to Financial Detox®- video addition. Financial Detox® (FD) has been podcasting for years and recently decided to add video content to our show. We hope you enjoy! Our show is geared to education of all important topics related to Wealth Management and how to maximize your wealth for TOTAL PEACE OF MIND! 

This week we reflect on the past year and what made IDA's clients successful. Jason Labrum (CEO of Intelligence Driven Advisers) and Co-Host Alex Klingensmith (President of Intelligence Driven Advisers) discuss the latest and hottest topics surrounding wealth management, tax planning, and financial planning. We hope you enjoy! 

For more financial advice visit our website and follow us on
Linkedin, FB, and Instagram.

1. Stay Calm and Keep It Quiet: The first and most important step is to stay calm and take some time to process your win. It's tempting to share the news with everyone, but it's wise to keep it quiet initially to protect your privacy and security. 
2. Verify Your Ticket: Double and triple-check your ticket to ensure it's genuine and matches the winning numbers. Consult with professionals and the lottery authority to confirm your win. 
3. Maintain Anonymity: In many states, lottery winners have the option to remain anonymous. Consider doing this to protect your identity and minimize unwanted attention. 
4. Hire a Team of Professionals: Assemble a team of financial advisers, lawyers, and accountants who specialize in working with lottery winners. They will help you navigate the complex financial and legal aspects of your windfall. 
5. Develop a Financial Plan: Work with your financial advisers to create a comprehensive financial plan. This should include strategies for investing, budgeting, and minimizing taxes. Prioritize paying off debts and securing your financial future. 
6. Consider Lump Sum vs. Annuity: Decide whether you want to receive the winnings as a lump sum or as an annuity paid out over several years. Each has its advantages and disadvantages, so consult with your team to make the best choice for your situation. 
7. Protect Your Assets: Implement asset protection strategies to safeguard your wealth from potential lawsuits, creditors, or unforeseen circumstances. Trusts and legal structures can be helpful in this regard. 
8. Give Back: Consider making charitable donations or starting a foundation to support causes you care about. Giving back can be a meaningful way to use your newfound wealth for the greater good. 
9. Set Personal Goals: Think about your long-term goals and aspirations. Your newfound wealth can provide opportunities to pursue passions, travel, or explore new hobbies. Having a sense of purpose beyond money is essential for happiness. 
10. Stay Grounded: While your financial situation has changed dramatically, try to maintain a sense of normalcy in your life. Surround yourself with supportive friends and family who can help you stay grounded. 
11. Avoid Impulsive Decisions: Avoid making impulsive purchases or decisions in the immediate aftermath of your win. Take your time to evaluate your options and consider the long-term consequences of your choices. 
12. Plan for Generational Wealth: If you wish to leave a legacy for future generations, work with your advisors to create a plan for generational wealth transfer that minimizes taxes and maximizes benefits for your heirs. 

For more financial advice visit our website and follow us on
Linkedin, FB, and Instagram.

Welcome to Financial Detox®- video addition.  Financial Detox® (FD) has been podcasting for years and recently decided to add video content to our show.  We hope you enjoy!  This week we kick off a Summer Series on FD discussing how the idea of Financial Detox came about and what it really means to investors.  Jason Labrum (CEO of Intelligence Driven Advisers) and Co-Host Alex Klingensmith (President of Intelligence Driven Advisers) discuss the latest and hottest topics surrounding wealth management, tax planning, and financial planning.

For more financial advice visit our website and follow us on
Linkedin, FB, and Instagram.

Find us online at: Financialdetox.com            Email us at:jason@financialdetox.com

Call us at: (877) 707-8889                               

____________________________________________________________________________

Show Title:The Benefits of Fully Integrating Your Taxes and Wealth Management

·         Who are your team of advisers?

·         What a typical CPA experience is like

·         What a fully integrated tax and wealth experience looks like

·         Case studies of successful integrated experiences

For more financial advice visit our website and follow us on
Linkedin, FB, and Instagram.

Show Title:What is True Financial Peace of Mind and How to Accomplish It

·         What is the purpose of setting goals?

·         What is the difference between “good” and “bad” goal setting?

·         How to think about the various parts of your life. 

·         How to evaluate your level of fulfillment in each area.

·         How to prioritize them and then set SMART Goals for each area. 

·         8 Actions you can take to improve your personal financial goals this year

For more financial advice visit our website and follow us on
Linkedin, FB, and Instagram.

For more financial advice visit our website and follow us on
Linkedin, FB, and Instagram.

Financial Detox is a platform to educate and clarify financial concepts that are so important to managing and preserving wealth.  Information in the financial space is ever-changing and ongoing knowledge is power when it comes to investing and managing a financial plan.  The team at Financial Detox is committed to helping individuals get better advice when it comes to their money. The world we live in today has lots of different ideas and opinions and there is conflicting information that can lead you to wrong decisions when managing your wealth.  FD has a fiduciary interest to help serve the investor NOT the advisor or company the advisor is working for. 

In today's episode, Alex and Jason discuss good tax planning and how critical it can be to an overall financial plan.   Also, why you should or shouldn't buy a fixed indexed annuity?  Listen to learn more!

For more financial advice visit our website and follow us on
Linkedin, FB, and Instagram.

Financial Detox presents new micro learning series today with an explanation of the Fed and raising of interest rates.  Jason Labrum and Alex Klingensmith with IDA discuss the relationship of the raising Fed rates to the markets and what investors should consider for hedging against inflation.  

Let's talk about the FED.  Its very clear the our economy is in a "bear market" and these times will determine if you are successful investor or not.  The fed just raised the rate another 75 basis points yet the markets reacted by going up that particular day.   The reason the fed has raised rates is to  control inflation or slow inflation.  The US Economy has been in what is considered a  "easy monetary" policy since early 2000; lower rates, easy to borrow,  and the economy has been stimulated by these actions.  Then throw in COVD where the government flushed the economy with trillions of dollars into the system.  At the same time production of goods and supplies became limited therefore driving the costs of goods and services.  Listen to todays shows to hear what to expect and what investors can do. 

For more financial advice visit our website and follow us on
Linkedin, FB, and Instagram.

For more financial advice visit our website and follow us on
Linkedin, FB, and Instagram.