Lots of people see investing as a hobby. Some of them, like my grandmother, are in investment clubs, where they talk about companies they like and buy and sell stocks. However, they rarely make any money from this. They buy high and sell low - seemingly at completely random times. Today, we want to propose an alternative: what if people like my grandmother invested based on evidence, got great performance from their stocks, and came up with phenomenal returns? On today's episode of ...

We're all human. We all make mistakes - even us here at the Financial Detox Podcast - and we've learned the hard way that if we're not detoxed ourselves, we can't best serve our clients. Today, we dig into eight absolutely irrefutable, toxic mistakes we're predisposed to making when we make investments, whether they're major purchases, like homes or cars, stocks, or suspect financial products. You'll discover the exact mindsets that people fall into when we make bad decisions, how we get...

Labrum Wealth Management has some exciting news! The firm is expanding and growing and has now added a Scottsdale office. Jim Pupillo and the team at LDI have teamed up with Labrum Wealth Management to form IDA (Intelligence Driven Advisers). This acquisition will provide many benefits for the clients of LWM (now IDA) such as: increased team collective knowledge, greater specialization within our team members, a larger more capable firm with approximately $800 million in assets under ma...

At Labrum Wealth Management, we talk to many potential advisors about joining our firm, and there's one question that really helps us determine if they might be a good fit: Do they care passionately about what their clients are ultimately paying - and what their net returns are?Today, trader Andrew Grant joins the podcast to talk about how to take control of the elements you can control - and potential red flags you should be on the lookout for when you evaluate your relationships with broker...

With the midterm elections, we've returned to a time of market volatility. That means that there's even more toxic financial advice out there than usual, and a lot of smart individuals are making not-so-smart decisions.Volatility and stress knock out your habits. Even if you've been disciplined and strategic for years, many people throw all of that out the window at the first sign of change. However, you can still invest extremely successfully and beat most investors while taking away your st...

Everyone's financial life is a unique combination of assets, liabilities, and situations. There's no one-size-fits-all solution guaranteed to get you the best possible results - and not all financial advice is created equally.At Labrum Wealth Management, we take a truly independent, personalized approach to our clients' portfolios. In today's episode of the podcast, we get in to how we buck the trends of what normally happens in advisor/client relationships in order to best serve our clients....

Right now, the markets are at all-time highs. However, when we ask, "How are the markets doing?" we're often referring to a very small subset of the overall market. Very few people who say the markets are doing well are thinking about not just the U.S. stock market, but the bond market or international markets of any kind.Furthermore, with markets at an all-time high, we want to talk about what you can do to prepare for the inevitable decline - or recession - and the best things you can do to...

Joe Pecore is a Professor of Business at the Rady School at UCSD. There, he teaches accounting and personal finance - including basic financial planning, the time value of money, how money grows exponentially, budgeting, how to track spending, banking, credit, investing, retirement, and housing - to undergraduates and graduates alike.Alex and I visited his class, and we found that it was hugely valuable for college and grad students. Furthermore, it would be an amazing resource for many adult...

At Labrum Wealth Management, we want our clients to think holistically about wealth management - and that's why today's episode isn't just about finances and investing. It's about how the components of our lives are interconnected, and the fact that how we invest and build wealth is directly linked to our families, our communities, and our jobs.Few people know this better than today's guest, Paul Thompson. Paul is the Executive Director of the BetterWorld Trust, which envisions a world in whi...