Welcome all! The time is finally here, the first official episode of The Invested Dads! The most epic podcast launch of 2020! Listen in as Josh Robb and Austin Wilson begin to take you on your journey to financial freedom one episode at a time. Today they start with how they met, their backgrounds, and some basics of financial literacy looking into the new year. So grab your coffee, donut, and slippers, and get ready for the first of many informative and fun episodes with Josh and Austin!
We're invested in our families, we're invested in our kids, we're invested in the markets, and we're invested in you. Click To Tweet
Talking Points
Josh’s Background [2:09]
Austin’s Background [3:16]
Dad Life [4:22]
Austin & Josh: A Bromance is Born [5:09]
Why “The Invested Dads”? [6:57]
Future Discussion Topics [9:07]
New Year Action Plans [11:43]
What Can You Do? [15:21]
FREE T-Shirt Giveaway!! [16:19]
T-Shirt Giveaway Information
- Leave us a review on Apple Podcasts
- Screenshot your review
- Email it to us at hello at theinvesteddads dot com
- We will follow up with the first 25 reviewers to get size and shipping address
- *Note* Only available to listeners in US, Canada, and Mexico
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Full Transcript
Intro:
Welcome to The Invested Dads podcast, simplifying financial topics so that you can take action and make your financial situation better, helping you to understand the current world of financial planning and investments. Here are your hosts, Josh Robb and Austin Wilson.
Austin Wilson:
All right, here we go. This is the Invested Dads podcast, episode one, pilot episode. So my name is Austin Wilson, and I’m here with Josh Robb, and we are here to help you become more comfortable with your financial situation. Josh, what can we tell the listeners about what to expect and what our show is about here?
Josh Robb:
Yeah, well, you know, Austin and I, we both work together but we have two different roles, and so, as we hang out together and talk and interact with clients, we thought, you know, we both come with unique perspective where we can help listeners take hard or difficult financial topics and kind of whittle it down from financial advisor’s perspective and the research analyst perspective. So we each come with a different approach, and together, we hope we can simplify and give people a better understanding of their finances, maybe some tips and help to get them closer to their goals.
Austin Wilson:
So how often do you think we’re going to be publishing new episodes, or what’s our plan there?
Josh Robb:
Well, you know, we could probably talk every day together, but no one wants to hear us that much. So we thought if we could do it weekly, you know, that would be something that, a week for 30 minutes or so, depending on how in depth the topic is, just give a chance for listeners to tackle one little thing at a time. So, every week, throw something new out there.
Austin Wilson:
And we’re going to have these podcasts listed at Apple Podcast, Spotify, all the other podcast players that you can really imagine. So if you use it, it’ll be there. It’ll also be available on our website at theinvesteddads.com, and we’ll have a podcast player right there on the website. You can listen to this episode as well as every episode as it comes out there. So we’d love to have you visit the website there.
Josh Robb:
There’s going to be equal representation. Austin is a Mac guy. I have not joined that dark side yet, so-
Austin Wilson:
He’s coming around.
Josh Robb:
Yeah. Yeah.
Austin Wilson:
As he looks at his iPad.
Josh Robb:
Yes. As I look at an iPad, the one Apple product I own.
Austin Wilson:
Josh, tell me a little bit about yourself. What do you do? What’s your background? Who are you? I mean, get us to know the real Josh Robb.
[2:09] – Josh’s Background
Josh Robb:
So I’ve been a financial advisor for the last, gosh, seven years now. I work with clients, I do the financial planning, I enjoy the retirement planning. The thing I like a lot about my job is I get the chance to help clients picture and dream about a goal and then give them objectives in little short goals to get there. And so we can work together to say, “Okay, this is the end goal you want to get to, what do you need to do today to start along that path,” and then work with them along that path. It’s really fun and rewarding for me to help people do that.
It really drived out of, I spent almost a decade in the nonprofit world working with kids and families and seeing a lot of long-term impacts, and even generational impacts, of decisions people made about money. And the more and more I saw that, the more I thought, you know, if I could help people kind of set those goals instead of thinking day to day, can I be thinking bigger picture? You can change generations with that, those type of mindsets. So that’s really what got me into this.
You know, Austin, I, we’ve known each other before working here, but Austin, why don’t you tell everybody kind of where you guys started?
[3:16] – Austin’s Background
Austin Wilson:
I started working at Cooper Tire & Rubber Company in Findlay, Ohio after I graduated college. And I spent about four years working there in various areas of finance, from internal controls to global financial planning and analysis, all the way to plant accounting. So I have a variety of different perspectives from that side of things, in the corporate finance side of things, as well as cost accounting. That was-
That was not the most fun times there. That experience kind of shaped my perspective. So I have a lot of background in financial statement analysis and stuff like that where I can use that to help our clients with where their investments that they hold and potential new investments and ideas and managing portfolios and stuff like that. It actually kind of brought me back to the investment side of finance from my background in school, which is kind of levered towards that financial services side of education I feel like.
So it was good to come back and get back into this environment and to things that I really enjoyed and have a passion for. So yeah, that’s kind of my background and how I got to be here and as a research analyst here, and I’m excited to share my journey as we go along with each episode with you guys.
[4:22] – Dad Life
So personally, Josh, you’re a dad, right?
Josh Robb:
I am. I have four kids, two boys and two girls.
Austin Wilson:
So you’re a mega dad, you got four kids.
Josh Robb:
I got a lot of them, which is, it’s great, and they’re every other, so they get a chance to, you know, interact and it’s fun to watch the different personalities there. And you, you’re also a dad?
Austin Wilson:
I am a dad, yeah. We have one little girl, her name’s Juliana, and she is a cutie. So lots of hair, that’s what everyone ever says.
Josh Robb:
Yes, there’s more hair on his daughter then I think all my kids combined at birth. So-
Austin Wilson:
And you’re married?
[5:09] – Josh & Austin: A Bromance is Born
Josh Robb:
I am married. We’ve been married for, it’ll be 15 years this year, so been a little while for me. It’s been one of those where, you know, it’s amazing, it’s awesome, it’s challenging and all that together, and I wouldn’t change it at all. In fact, you know, marriage is what, it sounds weird to say, but that’s what brought Austin and I together. And we’ll talk a little bit about that in a minute. But the other thing that Austin I have in common, as we get talking about our personal and professional, is we love Excel sheets.
And so, for the longest time, I was me in the office harping on how great Excel is and no one listening, and Austin came in and I finally had someone else that was pounding the table on how great-
Austin Wilson:
Sometimes we’ll instant message each other some sweet functions we’re playing with. You know you’ve really arrived and got a good friend when you can do that.
Josh Robb:
Yeah, I’ll get a message, “Hey Josh, come down to my office,” and it’s just to show what’s happening in Excel.
Austin Wilson:
I want to brag a little bit. “Look at this. It’s pretty.”
Josh Robb:
I actually had a dream in Excel once. The whole dream was comprised of an Excel sheet.
Austin Wilson:
That is the dream.
Josh Robb:
It was a good dream. That’s one way we connect, but how we first connected, Austin can tell a little bit about the story, but I’ll start with on the way, in the car, it was December, a couple of years ago. How many?
Austin Wilson:
Four.
Josh Robb:
Four years ago? Man. Four years ago, I helped my wife. She’s a wedding photographer, and on Saturdays I’m her second shooter. So it just means she gets to boss me around all day. We’re on our way. How it works: I don’t have any foreknowledge of where we’re going or who we’re meeting with, but on the drive over, my wife goes, “We’re doing a wedding with this lady named Jenna and her fiancé, Austin, and Austin is going to be your new best friend by the end of the day.” That’s not something she says often. In fact, she usually is warning me about certain aspects, but I just remember that she said, “You and Austin are going to be best friends,” and that was it. And that was the start of our bromance, so to speak.
Austin Wilson:
Oh, it’s been a beautiful thing. So yeah, going on four years now, we met and Josh watched me fall down in the parking lot, and that was when he knew that we had a lot in common. We’re both uncoordinated.
Josh Robb:
Uncoordinated, clumsy and are accident-prone.
[6:57] – Why “The Invested Dads” Podcast?
Austin Wilson:
So Josh, why The Invested Dads? Why or where did that name come from?
Josh Robb:
Well, it came from an almost concussion, honestly. But speaking of accident-prone, Austin and I were thrown out the idea of doing a podcast and we were trying to decide how or what would we do, how would we approach this? And as we were talking through, we’re two guys, we’re two dads. We want to kind of make this a simple, easy to understand topics that, you know, we don’t want anybody to be afraid of investing because we think that’s the best way to reach your goals. And so, from two dads that are invested, we want to make sure that other dads can also get invested. And we happen to own vests with our suits. And so, you know-
Austin Wilson:
See our website at theinvesteddads.com for vest pictures.
Josh Robb:
Yeah. And that was kind of where, you know, liking dad jokes, we said, you know, “If we are in-vested dads, we’re dads in vests, and we are dads that invest,” so it kind of built from there.
Austin Wilson
And that can also be taken a number of different ways. You know, we feel like be like being a dad is a very important role too. So we’re invested in our families, and we feel like our background in finance and educating our families in that and keeping them on track financially is a very important thing. So we’re invested in our families, we’re invested in our kids, we’re invested in the markets and we’re invested in you. So yeah, we’re-
Josh Robb
That’s a lot of investing.
Austin Wilson
We’re here to make a difference and hopefully just boil down some of these things you hear about on the news or on the radio, or just some things that sound really complicated and just let you guys know that it’s not as scary as it sounds. All of these things can be easily explained and just made to a point where we can take action together and just make a generation of financial-savvy people. So I’m excited about that. Yeah.
Josh Robb:
And to clarify, you don’t need to be a dad to listen to this, although we’re invested dads, this is for anybody. And that was kind of our thought too, is when we look at the people we interact with, I love going and talking to young college students and giving them those steps to get started in the workforce, but then I also like meeting with those that are on the edge of retirement and working through those plans to make sure they’re financially set. So we’re hoping to hit topics for everybody throughout this timeframe.
[9:07] – Future Discussion Topics
And some of those topics. Austin, what are some stuff we’ve talked about? What’s kind of in our queue coming up for this year?
Austin Wilson:
Yeah, we’ve got some exciting things planned. I’ll preface this by saying we want to talk about what you want us to talk about. So you guys are very important to what we want to talk about. So as you think of something that you might have a question financially, feel free to send us an email and we’ll talk about what our listeners want to talk about going forward. So there’s a form on our website where you can send us an email, send us a question, and we will be happy to include that in a future episode of a podcast if it fits in there.
So we’re super excited about what you guys want to hear about, but some stuff that we’ve already talked about is things like dollar cost averaging, like that investing over time, little bits here and there versus lump sum investing, that kind of discussion. Also, topics around life insurance and stuff like that. How much do you need, what kind do you need? How about what is a fiduciary and how might that help you on your financial journey? Dividend investing, that’s something that’s very exciting to us and something that we’d love to talk about and how that can make a really big impact on your investing and your financial portfolio performance over time. And then some common things that you hear about like what is active investing versus passive investing, so active management versus passive management, and what are the pros and the cons and the benefits of each.
So those are some cool topics as well as something simple like what’s the difference between an ETF and a mutual fund and how can those better serve your financial needs going forward. So those are kind of some cool topics that we’re thinking about. But like I said, we want to hear what you want to hear about. So if there’s something that we don’t talk about, feel free to just hit us up and we’d be glad to put together an episode for that.
Josh Robb:
Yeah, we’re always looking for feedback. You know, we sit around and work up ideas or something that maybe I was talking to a client about and I said, “You know what? That would be a good podcast,” we kind of keep track of. But if you’re listening to us and say, “Hey, I just want to know something,” shoot us an email, fill out that form online.
Speaking of that, you know, for the start of this year, you know, we’re in January here, we just are getting into 2020, even numbers, which are always pretty to see on paper. I don’t know. I kind of feel weird.
Austin Wilson:
Makes me feel old.
Josh Robb:
I know, when you think backwards to it.
Austin Wilson:
Remember the ’20s?
Josh Robb:
Oh man. So the idea though is what can you do getting started this new year, kind of like a new year’s resolution. I try not to do any kind of workout resolutions because those never last. But-
Austin Wilson:
Actually, you told me about a doughnut resolution you made last year.
Josh Robb:
Yes.
Austin Wilson:
How’s that coming along?
Josh Robb:
You know, to eat donuts as much as possible and as often as possible is a new year’s resolution that has probably been one of my best so far, so that’s.
Austin Wilson:
Invested dad bod.
Josh Robb:
You know, that dad bod is taken to another level when you go invested dad bod. Donuts are a wholesome food, so to speak.
[11:43] – New Year Action Plans
Austin Wilson:
So what are some practical things that listeners can take action maybe at the beginning of this new year as they try and set themselves up for success financially?
Josh Robb:
Yeah, and that’s, you know, as Austin and I were talking about this first podcast, our first thing is we always want to help whoever’s listening. What can we do to help out? Because that’s why we’re doing this. We can hear each other talk without a microphone, what can we do to help?
They use the saying, we’re at the beginning of the year, as you’re looking at your company, if you have a 401k or retirement plan with your company, am I getting that match? A lot of companies will offer a match, or they’ll add money to your account. If you add money, that’s free money on the table. It’s only there if you add money in yourself and so just make sure you’re getting that free money, put in your own money to match that. You know, a lot of companies will say, you know, “We’ll give 3%, if you put 3% in,” or something along that line. If they have that or offer that, make sure you take advantage.
The other one is, although we’re in 2020, you can still make a Roth contribution for 2019, or Roth IRA. You have until Tax Day to make a contribution. That’s the other thing you can do starting this year, is you can actually look back and say, “Can I add money for last year and fill up a Roth IRA?” So you could put $6,000 into a Roth IRA as long as you have, you have to have some earned income, but it has to be below or less than $193,000, that’s if you’re married or filing jointly. If you’re single, it’s $122,000.
If you have less than that of adjusted gross income, and we’re using some big words now, but if you look on your tax reform, there’s your adjusted gross income, that’s after you take some of your deductions there, at the top of the tax form. But if you make less than that, you can make a contribution for last year and still make a contribution for this year.
So again, you know, talk to your CPA or your financial advisor about that, but just two things you can do right away at beginning of the year, look at your 401k or 403b, whatever your retirement plan, does it work? Can I make sure I grab all that free money? And then two, a Roth IRA, we’ll talk about that later, what it is and why it’s important, but am I adding as much as I can to my retirement accounts for last year?
So those are two takeaways that I just, you know, started this year, as you’re reviewing everything. Maybe you had a year-end review and you got a raise or something. Can I max out what I have there? And speaking of getting raises, that’s the other tip and we’ll have an episode on some of this stuff, but it was one of those things that we call it the 50/50 rule. Austin, what’s that 50/50 rule?
Austin Wilson:
Oh yeah. That 50/50 rule is if you get a 3% raise and you take 50% of that, and you adjust your standard of living and say, “I want to live on that additional one and a half percent,” that’s great and you get to have a couple extra dollars in your monthly budget or whatever, but if you take that other one and a half percent and you apply that to your investments, whether that be through a Roth IRA, as Josh mentioned, or through increasing your 401k or something like that, an investment vehicle like that, then that can have amazingly huge benefit to your retirement savings over time.
And your standard of living will still be able to get a little bit better over time, and you won’t feel like you’re dipping into your budget to do that, but you’re really going to have a huge difference over 20 years. So yeah, that 50/50 rule, it’s a really cool thing. It can make a huge difference over time through just little, little changes, which is great.
So yeah, these practical little things are things that can make a big difference that we’re definitely excited about talking about how to set each other up for success over time. Time’s the key with all of investing, and we love to talk about how time can help any investor. Yeah, those are some good wins and some good things that you guys can take away even starting right now in January 2020 and just take some action and make a huge difference to your financial situation.
[15:21] – What Can You Do?
So Josh, what do we want listeners to do? How can they support us in what we’re doing going forward and all of that.
Josh Robb:
Yeah, the biggest thing is, you know, subscribe to this podcast. If you want to know each week when we push out a new episode, make sure you hit that subscribe button, whether you’re using the iTunes or the Google Play or whatever the app you’re using. And then check out our website for a little more detail about Austin and I, we shared a little bit about who we are. I do know Austin, you ride motorcycles.
Austin Wilson:
I do. Yeah. I’m an avid motorcycle fan. Two wheels for life.
Josh Robb:
That’s right. And speaking of that, do you know why the motorcycle could not make it up the hill?
Austin Wilson:
My motorcycles make it. No, I don’t know.
Josh Robb:
Because it was too tired. Yeah, that’s-
Austin Wilson:
Yeah. Yeah, that happened.
Female Narrator:
You are listening to The Invested Dads podcast. Visit us online at theinvesteddads.com. And we are back with The Invested Dads.
[16:19] – FREE T-Shirt Giveaway!!
Josh Robb:
Hey Austin. You know what’s awesome?
Austin Wilson:
What’s awesome?
Josh Robb:
Free swag.
Austin Wilson:
Free swag. Like what kind of free swag?
Josh Robb:
Like a tee shirt.
Austin Wilson:
You like tee shirts?
Josh Robb:
Yeah.
Austin Wilson:
How could a listener get a tee shirt?
Josh Robb:
Well, listeners can get tee shirts by helping us get started by leaving us a review on Apple Podcasts. So this just in, breaking news, the first 25 subscribers to leave us a review on Apple Podcasts will get a free, official The Invested Dads tee shirt.
Austin Wilson:
So they leave us a review.
Josh Robb:
Leave us a review. Leave us a screenshot. So take a screenshot of that review you left on Apple Podcasts and email it to hello@theinvesteddads.com and then we’ll work with you from there to get you your swag.
Austin Wilson:
Make a review.
Josh Robb:
On iTunes.
Austin Wilson:
Screenshot it.
Josh Robb:
Screenshot it.
Austin Wilson:
Email us at hello at theinvesteddads dot com.
Josh Robb:
That’s right.
Austin Wilson:
And then we’ll get back with them to get them the shirt.
Josh Robb:
First 25 are going to get a sweet free shirt.
Austin Wilson:
Sounds good.
Josh Robb:
So yeah, keep an eye on our social media. You’ll get to see what that awesome shirt looks like.
Josh Robb:
Awesome. You know, hopefully this was a good intro to who we are and what we’re going to be doing and look for our next podcast coming out next week.
Austin Wilson:
Yeah, we’re excited to have you as part of our journey. Thanks. Have a great day.
Josh Robb:
Yeah. See you later.
Outro:
Thank you for listening to The Invested Dads podcast. This episode has ended, but your journey towards a better financial future doesn’t have to. Head over to theinvesteddads.com to access all the links and resources mentioned in today’s show.
If you enjoyed this episode and we had a positive impact on your life, leave us a review. Click subscribe and don’t miss the next episode.
Josh Robb and Austin Wilson worked for Hixon Zuercher Capital Management. All opinions expressed by Josh, Austin, or any podcast guests are solely their own opinions and do not reflect the opinions of Hixon Zuercher Capital Management.
This podcast is for informational purposes only and should not be relied upon for investment decisions. Clients of Hixon Zuercher Capital Management may maintain positions in the securities discussed in this podcast. There is no guarantee that the statements, opinions, or forecasts provided herein will prove to be correct. Past performance may not be indicative of future results. Indices are not available for direct investment.
Any investor who attempts to mimic the performance of an index would incur fees and expenses which would reduce returns. Securities investing involves risk, including the potential for loss of principal. There is no assurance that any investment plan or strategy will be successful.
