Welcome, welcome! In this week’s episode of The Invested Dads, Josh Robb and Austin Wilson will be nerding it out by discussing dividend investing. Not sure what dividend investing is? No worries, they keep it pretty light so there’s plenty to learn if you’re new to it! Know what it is but need some more insight? You came to the right place too! Let Josh and Austin take you on this week’s journey of The Invested Dads so you can take control of your financial future.

Dividend investing is something that's been around for a long time and according to Wikipedia, the most accurate website in the world, I'm guessing, I don't know, maybe Wikipedia will tell me that. I don't know, I'll have to look... Share on X

Talking Points

What is Dividend Investing (According to Wikipedia)? [0:55]

Why Do People Like Dividend-Paying Stocks? [2:15]

Definition of a Dividend (Not According to Wikipedia This Time) [3:51]

What is Dividend Yield and How Do You Calculate it? [5:10]

What is a Dividend Payout Ratio and What’s the Risk Associated With it? [6:25]

How Do Dividends Affect an Investor’s Risk Tolerance? [8:11]

Dividends Aren’t Always the Greatest Thing (Sad Face) [9:36]

Dividend Growth and The Rule of 72 [12:37]

Investing Approach #1: Income Investing Strategy [15:36]

Investing Approach #2: Growth Focused Investor [17:47]

Investing Approach #3: Total Return Approach (a.k.a. Moderation, Josh’s Favorite Word) [18:59]

Which Approach is Right for Investors? And How Do They Know? [21:54]

Christmas May Be Over, But the Giving Doesn’t Have to Stop! [22:43]

FREEEEE T-Shirt Giveaway! [23:15]

Links & Resources

https://en.wikipedia.org/wiki/Dividend

https://www.investopedia.com/articles/02/010902.asp

https://www.fool.com/how-to-invest/dividend-investing-for-beginners.aspx

https://www.marketwatch.com/story/whats-best-total-return-or-income-investing-2015-03-25

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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.

Josh Robb:
Are we doing a mic check? Mic check right now.

Austin Wilson:
Mic, mic, mic, mic, mic, mic, mic, mic, mic, mic, mic, check, check, check.

Josh Robb:
Mike Mazowski.

Austin Wilson:
That’s why I wear these American Eagle stretchy pants.

Josh Robb:
Right.

Austin Wilson:
Best for The Invested Dad bod. Hey, hey, hey. It’s Austin Wilson and Josh Robb here back with The Invested Dads Podcast, here to bring you a fun episode where we’re going to kind of nerd out a little bit and talk about one of our favorite topics. Which is dividend investing, and who that’s for and what that is, and maybe just if that might be right for you. So Josh, tell us a little bit about dividend investing.

[0:55] – What is Dividend Investing (According to Wikipedia)?

Josh Robb:
Yeah, so dividend investing is something that’s been around for a long time and according to Wikipedia, the most accurate website in the world, I’m guessing, I don’t know, maybe Wikipedia will tell me that. I don’t know, I’ll have to look.

Austin Wilson:
I’ll have to Wikipedia that later.

Josh Robb:
It’s in the show notes. But the Dutch East India Company was the first recorded public company ever, to pay a regular dividend. They paid what amounted to 18% of the value of their company per year, and they did that for 200 years. And guess when they started?

Austin Wilson:
I don’t know, what? 1700?

Josh Robb:
1602.

Austin Wilson:
Josh, that was before-

Josh Robb:
That’s back in the day.

Austin Wilson:
That’s before you were born.

Josh Robb:
That’s a long time ago. And so imagine a company back in the 1600’s, they’re running around-

Austin Wilson:
Paying out their shillings.

Josh Robb:
Riding around on horses and paying dividends. And so for 200 years though, they were paying out to shareholders of that company a portion of the earnings and so that’s the idea, that’s the starting point. And that’s kind of what we’re talking about today is kind of the value of, why would they do that.

Austin Wilson:
Can you imagine the present value of those 200 years of dividends in 1602?

Josh Robb:
And compounding. Compounding. If someone just took that first dividend payment and just-

Austin Wilson:
I kind of want to make a spreadsheet to see what that’s like.

Josh Robb:
It would be exponential. Up and to the right.

Austin Wilson:
It would be Excel-ent

[2:15] – Why Do People Like Dividend-Paying Stocks?

Josh Robb:
Yes. Excellent. All right. People like dividend-paying stocks for a lot of reasons. The first one is that usually, a dividend-paying company is some established, well known company, they’ve been around for awhile, they have a pretty stable balance sheet. The reason for that is, a dividend is a portion of earnings that is paid out of the company. In other words, they have cash that they are willing to get rid of, to give away.

Austin Wilson:
Excess cash.

Josh Robb:
Yes. And so that’s part of the reason why people like those companies is, they’re earning something above and beyond what it costs them to run their business. The other reason why people like a dividend holders is, they’re a little less risky. So they have earnings, they don’t have to prove it to the shareholders. They’re showing consistency of earning above and beyond the needs. And so the stock tends to be a little less volatile than non-dividend paying stocks. So that’s another value or reason why people like them. Now it’s not always the case, but in general, most dividend-paying stocks tend to be a little more stable.

Austin Wilson:
And one thing that’s nice about dividend payers is that, even if there’s an event that occurs where you have a time period where there’s not a lot, or negative, price appreciation so the stock price does nothing or does bad things, it goes down, you still get some cash, some return in the form of that cash dividend to the shareholders.

Josh Robb:
That’s right. Yeah. At the end of the year, you can look at your account and say, “Oh, look my price is down. But throughout the year they paid me X amount of dollars, so I am farther ahead because I haven’t sold. So although the price moved, I’ve realized dollars and have unrealized loss. So from the long run, I’m still better, I’m good. As long as I don’t sell.”

[3:51] – Definition of a Dividend (Not According to Wikipedia This Time)

Austin Wilson:
As long as you don’t sell, you don’t actually take a loss. All right. Some key definitions that we just kind of think are important to understand as we talk about dividends in general. So what is a dividend? Josh kind of talked about that. That’s a cash payment to shareholders of a company that comes out of the company’s earnings. So that is announced by the board of directors and it’s distributed to each shareholder. So since you own a share of the company, you are a part owner of the company, even if it’s like 1/1,000,000th of the company or whatever, you get a share of those company’s profits and it’s distributed to you in the form of cash. So I think that’s pretty, pretty stinking cool.

There’s also just a great description that goes on a little bit more depth that we’ll link below from Investopedia. The most common dividend frequency is quarterly. So here in the U.S., typically you’re going to hear about quarterly dividends and that being the most common. But many companies, especially abroad, pay dividends semi-annually or annually, or even offer large special periodic dividends.

Josh Robb:
And the benefit for an investor there is, if I’m looking for yield, looking to get that income and a company says, “We pay once a year,” as soon as they pay that, I may look, “Can I sell that holding and get to another one that hasn’t paid yet?” And I could kind of double up on that dividend payment within my investment. And so there’s a lot of strategies out there to say, I want to take advantage of those infrequent payments and capture those as they come and then find somewhere else to go.

[5:10] – What is Dividend Yield and How Do You Calculate it?

Austin Wilson:
So you kind of mentioned a word I think we should describe too, its dividend yield.

Josh Robb:
Yep.

Austin Wilson:
So that is a percentage that takes the annual dividend payments and divides it by the stock price at a point in time. So hypothetically, which is pretty accurate to right now, Apple’s trading around $280 a share, and it pays a dividend of 77 cents per quarter. So that’s $3.08 in the course of a given year. So that yield takes that 3.08 and divides it by the 280 and gets around 1.1%. So that’s kind of dividend yield and that’s how you calculate that, and that’s a very common term used when you’re talking about dividend payers. Another one is the-

Josh Robb:
And also too, with that dividend yield, it allows an investor to say, “Okay, if I’m owning this stock and it’s paying me this, how can I compare that to another stock that has a different price?” And so you can look at the yield and compare them.

Austin Wilson:
Right.

Josh Robb:
If one stock’s trading for 280 and another one is trading for 100 and you say, “Well, that’s 77 cents but this is only, 13 cents or whatever.” But you compare them in the yield, I’m actually getting more money because I own more shares with my dollars.

Austin Wilson:
Exactly.

Josh Robb:
Yield, you can compare two different companies together and get which one’s going to actually pay me more using my set dollar amount of investment.

Austin Wilson:
Like an apples to apples comparison.

Josh Robb:
Apples to apples.

Josh Robb:
Comparing to yours.

Austin Wilson:
That’s a great game. Might have to play that on our podcast one time. All right.

[6:25] – What is a Dividend Payout Ratio and What’s the Risk Associated With it?

Dividend payout ratio is another common term that you’ll kind of hear when you’re talking about dividend payers. That is a common metric used when evaluating dividend paying stocks. That takes a company’s total dividend payments in dollars and divides it by their net income in dollars or whatever currency you’re issuing your dividends in. So what that does is, it really is looking at the percentage of your net income that you’re issuing in dividends. And when this is viewed on a per share basis, it’s called a retention ratio and you just take the dividends per share and divide that by the earnings per share, both on an annual basis.

So lower figures for both of those are considered more conservative, and then higher would be considered a little bit more risky. So a company with a dividend payout ratio of 0.2 paid out 20% of its total net income in the form of dividends. Whereas a company that doesn’t pay a dividend would have a ratio of zero, and a company that pays out all of its net income in the form of dividends, has a ratio of one. Right?

Josh Robb:
And so and so why that matters is, if I’m looking at a company in their dividend payout ratio is 0.8, so 80% of their earned income is paying out, so I know if they have a slowdown and they lose more than 20% of their revenue, that dividend-

Austin Wilson:
They’re in trouble.

Josh Robb:
Could be in-

Austin Wilson:
It’s danger.

Josh Robb:
Trouble.

Austin Wilson:
Yeah.

Josh Robb:
They may have to borrow to pay that out, if they want to continue to do that, or make adjustments to it. So that’s why lower’s better is, 20% they got a lot of wiggle room there before they hit that threshold.

Austin Wilson:
Exactly.

Josh Robb:
And then if you see on paying one, then they better always make that same amount of money, which is rare, you don’t see that a lot.

Austin Wilson:
Right. Those are extreme examples, probably, both ways. But kind of the idea is, lower is more conservative, and conservative is good when you’re looking at protection.

Josh Robb:
Yes.

Austin Wilson:
So protecting your portfolio with what that company could pay out.

[8:11] – How Do Dividends Affect an Investor’s Risk Tolerance?

So Josh, how do dividends affect an investor’s risk tolerance?

Josh Robb:
Yeah, so the risk tolerance is an investor’s ability to handle the volatility. Volatility being a big word, just meaning the up and down in the market. And so dividends impact it because again, dividend paying companies tend to be a little less volatile so it could smooth it out by having some dividend paying investments within your portfolio, smooth it out a little bit. The other thing is, dividend paying within there also gives you another approach or way of viewing your portfolio. In that, if I’m looking for that income, I don’t really care what the price did, going back to your Apple at 280 now it’s at 260, well I’m not happy, but as long as it still pays that dividend out, my income hasn’t changed so I’m okay, if that’s what I’m relying on. And so again, it gives you another approach or a way of viewing your portfolio.

We found with people I’ve worked with that seeing that income stream does enable you to say, “Okay, those ups and downs and I can see my statement change, I’m not happy, but I still know that income’s coming through and so it does help smooth things out from risk tolerance. Now investing in stocks while it’s dividend or non-dividend paying, you do have to understand there’s risk involved. And so you have to still be willing to handle that risk to invest in dividend paying stocks, but it’s a little less risk than a non-dividend paying.

Austin Wilson:
Right. It’s easier to stomach some of those ups and downs if you have some income coming in to offset that.

Josh Robb:
Yup.

[9:36] – Dividends Aren’t Always the Greatest Thing (Sad Face)

Austin Wilson:
So dividends aren’t always the most rosy things. Right? So think about during the global financial crisis, equities fell globally, almost 40% and a year later, 57% of all dividend paying stocks cut or eliminated their payouts. That was according to a marketwatch.com article, which we’ll put the link in the show notes as well. So that is tough. Companies then, at that point in time, needed their cash to fund their operations, to de-leverage, to pay down debt, those kinds of things. So that’s not exactly a rosy picture for dividend payers and that does happen.

So when dividend paying stocks cut dividend payments, their stock prices dropped pretty significantly. So that’s for a number of reasons. But the main reason of that is, the present value of the future dividend payments is really already baked into the stock price. So if you hold a share of Apple and it yields 1.1% and it’s growing at a 10% growth rate over XYZ time period, then you’re holding Apple at $280 a share because you already think you’re going to get all those dividends that are coming, and they’re going to keep growing at the same rate and all of these things. So if that changes, then why you’re holding it is a lot different.

Josh Robb:
Yeah. That’s a great point, Austin. The whole idea that once you start paying a dividend, the average investor assumes you’re going to continue that. Unless you’re very clear that this is a onetime special dividend, that dividend kind of starts off the trend that this will happen consistently. And in doing so, if I’m trading a stock and it’s paying a dividend, I want to get my money for that added value of the future income that’s supposed to happen from there. So if I’m selling that stock and someone wants to buy it, I say, “Well, it’s actually worth more than just what its current assets are, because it’s paying out every quarter. You need to pay me extra because of this.” Now when they announced they’re cutting it or eliminating it, that future value goes away. So there’s a sudden hit on that stock price like you said.

Austin Wilson:
And this is one reason that many companies today are preferring to return cash to shareholders in the form of share buyback authorizations. Because they can really flex up or flex down by increasing or decreasing those buyback amounts based on what they view the best use of their cash is, whether their share price is attractive, that they should be going out and buying them back. And they won’t get punished for those.

Josh Robb:
No, they could say-

Austin Wilson:
They could suspend-

Josh Robb:
Yeah.

Austin Wilson:
They could keep continuing, they could increase, decrease. It’s really kind of just at their discretion. And if you’re paying a dividend, you’re pretty much locking yourself in.

Josh Robb:
Yeah. Yeah, they could say, “Hey, we have $300 million that we anticipate to use for share buybacks. It’ll be at our discretion and if the price hits too high point, we’ll just suspend it until it gets back to our reasonable level.” And so there’s no expectation that that’ll happen every year. So you’re right, it’s a more easy way for a company to deploy cash and enhance shareholder returns by reducing the number of shares out there. But yeah, you’re right. Once the dividend’s paid, it’s kind of the anticipation you’re going to continue to do this.

Austin Wilson:
So Josh, what do you think about us having a dedicated episode to share buybacks in the future?

Josh Robb:
Oh man, that is going to be amazing.

Austin Wilson:
I think that’s going to be the number one episode. It’s going to be pretty exciting.

Josh Robb:
It’ll be popular.

[12:37] – Dividend Growth and The Rule of 72

Austin Wilson:
So dividend growth is another term, another form of investing that is kind of a buzzword in the industry today. And that’s really to say, a focus on investing in companies that are growing their dividend. It’s very in favor right now. This is because even if dividend yields are low, if they’re growing, it shows the company’s very optimistic on its ability to do so going forward. Because just like cutting dividend payments, dividend growth is baked into the stock price. So it’s the same kind of thought process that we just talked about. But dividend growth over time is really a sign that, that company’s very optimistic and they’re in it for the long run. They’re not doing anything too risky and they anticipate to continue to grow at the same level at least that they have been. So that’s a really good thing. That dividend growth is baked into the stock price, it’s a very good thing.

Josh Robb:
And for investors, that’s what they look for. Because as we talk through the investing side, inflation has an impact on your investing. So if I’m getting $10,000 a year from my investments, and that’s great, it covers all my needs, all my expenses, everything, awesome. 20 years from now, that $10,000, because of inflation, is not going to buy the same stuff. So I’m looking for companies that say, “Hey, we’re paying X amount now, but guess what? We’re going to try to increase that so that 20 years from now, you can buy that same stuff you’re buying right now for 10,000 for whatever that inflated amount is, $20,000 or whatever.”

Austin Wilson:
So if you have a dividend yield of your portfolio that’s increasing at a faster rate than inflation, depending on that income, that’s a good kind of-

Josh Robb:
Yeah, you want to see that.

Austin Wilson:

Bogey. That’s a good bogey. Now we would argue that, you should probably aim for a little bit higher growth rate than inflation. Say inflation long-term has been three, three and a half percent, that does not take into consideration the fact that healthcare lately, has been increasing, and education costs have been increasing, drastically more expensive than the rest. So probably a little bit higher will be a little bit better. But yeah.

Josh Robb:
Is there a way of seeing how that would grow, Austin? Is there a rule of thumb to help calculate that?

Austin Wilson:
Oh, there’s a rule, and we like rules here in the finance world.

Josh Robb:
Rules.

Austin Wilson:
So we’re going to call this the rule of 72.

Josh Robb:

That’s a good number.

Austin Wilson:
And it’s not proprietary because we didn’t make it up. It’s actually already been around for a while.

Josh Robb:
It’s a math rule.

Austin Wilson:
It’s a math rule. So the rule of 72 is an easy way to determine how long an investment will take to double given, in this case, a fixed dividend growth rate. So when we divide 72 by the dividend growth rate, we get an estimated time period for how long it will take for the cash dividend payment to double. Now this isn’t perfect and changing dividend growth rates can change the outcomes of this over time. So it’s really good for stable companies that have grown their dividend at kind of a stable rate over time. But a rule of thumb that we like is, if a dividend has a 10% annual growth rate, it will double its dividend payout in about seven years. So if you take 72 divided by 10 and you get 7.2, about seven years, you’re going to double that dividend payment. So that’s kind of just a high-level rule of thumb that you can use to analyze a holding, looking at the dividend and what that will look like going forward.

[15:36] – Investing Approach #1: Income Investing Strategy

Josh Robb:
Yeah. So talking about dividend, that fits into a strategy. And so that strategy really is, income investing. So we’re going to talk about a couple of different strategies. So that’s one. So income investing is the strategy where you say, “Okay, I need a certain amount of income to be generated from my portfolio. And I will invest in things that pay out some sort of income to me, whether it’s on a quarterly, annual, semi-annual, whatever the basis is, I’m getting an income stream.” So some of those things are bonds, there’s fixed income bonds, pay an interest payment.

There’s equities, which are stocks that we were talking about. They have a dividend and they pay that out quarterly or whatever. Within there, there’s REITs, real estate investment trusts. Those are very popular from an income standpoint because that structure allows the company which manages or owns buildings, to take all those payments that all the renters are paying and pay that out to shareholders. And what it does is, it allows them to pay a higher pay out, where we talked about that, payout where you didn’t want to see it high, well REITs could pay up to 90% payout.

Austin Wilson:
They have to pay it high.

Josh Robb:
Yeah. And so they’re forced to pay that out so that they maintain their nice tax structure. But that gives the investor a lot of yield out of there. So the income investor says, “Okay, my goal is, I don’t really care about appreciation. I don’t care about capital gains, I need income.” And the reason why that matters is, maybe they have some sort of restrictions on the account. So a good example of that is a trust. So maybe the trust says, “Hey, it’s $1 million trust. You cannot touch that $1 million ever. But as a beneficiary, any income that the $1 million produces, you can have it.” And so the beneficiary says, “Okay, you better invest in income… I don’t care about the Google or Amazon that’s not paying anything. I care about income.”

Austin Wilson:
And so the example of that, you’ve got a million dollar account, can’t touch the principle, that is locked in, but if you and if your financial advisor invested for you in such a way where you can get 5% yield, you can withdraw $50,000 of that income as it comes in.

Josh Robb:
Yep.

Austin Wilson:
So yeah, that’s a good way. That’s a good way to get some income.

Josh Robb:
Yep. And at that point, I don’t care what it grows to, maybe I like to see some growth, because then my income can grow too, but I’m more reliant on where that income stream is.

[17:47] – Investing Approach #2: Growth Focused Investor

So that’s one, the opposite is, a growth focused investor, so it’s kind of growth only. The idea that, “You know what? I got a long timeframe to invest in. I’m looking for the idea that, I think the company can do a better job with this money than just paying it out to the shareholders. I think if they hold onto that cash, they can reinvest, they could purchase companies, they can do mergers, whatever it is, they can grow their business in any way that makes sense. That over the long run, the price appreciation will be better than just them paying out that consistent income from a dividend. And so a growth investor, who again, needs a long time to let that play out, can see better returns, but they don’t get an income stream. There’s nothing in the short run.

Austin Wilson:
And they have to be much more capable of absorbing volatility.

Josh Robb:
Yeah, yeah.

Austin Wilson:
So those growth oriented companies, think like the Facebooks and the Googles or whatever, the Netflixes of the world, the volatility, the ups and the downs that those companies experience are drastic, but they are not paying out that extra income, the extra earnings that they’ve got to the shareholders. They’re taking that extra earnings and they’re investing in the business to grow, grow, grow, grow, grow. So the growth approach says that over time that is a good thing. So based on your time horizon, that could be a fit.

[18:59] – Investing Approach #3: Total Return Approach (a.k.a. Moderation, Josh’s Favorite Word)

So Josh, what’s one more kind of approach to investing? What’s your favorite?

Josh Robb:
Yeah. So my favorite approach is moderation.

Austin Wilson:
Donut investing.

Josh Robb:
Donut investor.

Austin Wilson:
Oh. Moderation.

Josh Robb:
Moderation. And moderation is the concept of taking both of those, income and growth and saying, “Okay, I would like to grow my portfolio and I would like to have multiple ways that it is doing that.” In other words, I’m agnostic to how the return happens, whether it’s an income or growth, but I would like to see that. And so total return investing takes both of those, the growth of the portfolio and the income it’s generating and uses that to meet the needs. And so if I know I need a 4% return, 6% return, or whatever it is for my goals, whatever my goal, drives that performance. And so my goal is the objective and then I invest to meet that goal. And the total return approach says, “You know what? In a year where everything’s down, we may have to touch that principle because there’s not enough income there.”

Those type of approaches makes you have a longer, successful track record because you’re not just sticking to one of those two. Because if you’re growth oriented and they market’s down, what are you going to do? Are you going to sell low? You have to because you have no income stream. If you have an income and they start cutting their income payments, what happens when you go looking for the higher income yields? Everything’s down in price, you’re selling low and you have less principal to reinvest in that new stock. And so it gives you that opportunity to say, “Okay, I’m going to pick and choose where that comes from, and I’m going to use the full approach,” which is why I like it.

Austin Wilson:
Yeah. The total return approach is kind of the best of both worlds. So you get to ride some of the growth with the growth investing theme, where you’re invested in companies that are growing and going to grow over time, but you also are invested in companies that are high quality, paying high dividends or paying dividends in general that are going to be stable and that are going to give you some income as well. So you can kind of take the best of both worlds. And when things are doing really well, you’re going to ride that up through the growth side of things while getting some income as well. But when things are tough, you’re still going to have some stability, and that stability’s key.

Josh Robb:
And it allows the ability to be more diversified because when you’re looking at dividend paying stocks, they’re not in every sector. They’re limited because they have to have that income to show, they have to be a stable company. The same is true with fixed income and bonds. They’re income producing, but does that diversify me enough into the other sectors, the same to growth returns. Growth, there is no fixed income that provides that. You have to have that dividend or income focus for that piece. So it gives you more diversity. And speaking of that, when you’re looking at income investing and talking through the different sectors, you have like a utility company who is pretty stable because of the regulations. And so that gives me that stability but also allows me to invest in a sector that maybe I would miss if I was a growth only investor. So it gives me some diversification.

Austin Wilson:
There’s actually a great discussion about the differences of income versus total return and those kinds of approaches in a marketwatch article, that we’ll throw in the show notes as well.

[21:54] – Which Approach is Right for Investors? And How Do They Know?

So Josh, what approach is right for investors and how do they know what’s right for them?

Josh Robb:
Yeah. And so I can’t answer that question, right?

Austin Wilson:
Exactly.

Josh Robb:
It’s a trick question.

Austin Wilson:
It’s a trick question.

Josh Robb:
The right answer is, you need to have a plan and a goal. And so you need to work with a financial advisor or come up with a plan where you say, “Okay, here’s my objective. Now what makes the most sense to get there?” Or, “Here’s my income need. How can I best achieve that with the most stability, and that best matches my risk tolerance?” And so you really need to have a plan. And that’s really what we stress in a lot of things in your life, right? If you want to get in better shape, you need a plan. You can’t just wake up and say, “I need in better shape.” You’ve got to get a plan.

Austin Wilson:
That doesn’t work for me.

Josh Robb:
It doesn’t work. And so the concept is you need a plan. And in order to figure out what investment approach makes the most sense, I need to know what my plan is.

[22:43] – Christmas May Be Over, But the Giving Doesn’t Have to Stop!

Austin Wilson:
So Josh, I feel like I’m in a giving mood today.

Josh Robb:
Yes.

Austin Wilson:
So Christmas was a few weeks ago.

Josh Robb:
Christmas.

Austin Wilson:
It’s January. It was beautiful. It was wonderful. It was rainy in Ohio, it looks like.

Josh Robb:
Yeah.

Austin Wilson:
But I’m feeling like giving some stuff away. So number one, let’s give something away.

Josh Robb:
All right.

Austin Wilson:
We’re going to give listeners a free gift, which is a brief list of eight principles of timeless investing. So these are overarching investment themes meant to keep you on track to meet your long-term goals. So check it out. It’s on our website. You can visit it there. It’s a nice little PDF as a gift to you. So check that out.

[23:15] – FREEEEE T-Shirt Giveaway!

Also Josh, what else can listeners do?

Josh Robb:
I want to get in on this giving spirit. So what about… And is it giving, if I make them do something? I don’t know, we’ll still say it is.

Austin Wilson:
We’re saying it’s giving.

Josh Robb:
All right. It’s still giving. We’re going to give away some swag.

Austin Wilson:
Swag.

Josh Robb:
So we’re new into this podcast and dang, we’ve only been doing it for a little bit, just started out, a couple weeks. And so we want to create some buzz and try to see if we can show up more on Apple Podcasts so more people can find us. So in order to do that, we need some reviews. So if you would be willing to leave us a review on Apple Podcasts, you take a screenshot of that review and you email it to us at hello at theinvesteddads.com, we will follow up. And the first 25 people who do that, we’re going to send them a free shirt. And we’ll reach out to you, get your size, and get your mailing address. That way you get one that you can actually wear. You don’t get an extra small and you’re like-

Austin Wilson:
Extra medium.

Josh Robb:
Fits on my arm. So that will help. The first 25 people who help us, we’d love to send you a free t-shirt.

Austin Wilson:

And those shirts look amazing.

Josh Robb:
Yes. I’m pretty excited.

Austin Wilson:
They turned out pretty awesome.

Josh Robb:
Yeah.

Austin Wilson:
So shout out to Flag City Clothing in Findlay, Ohio.

Josh Robb:
Yes, but I do want to note though, this is for North American subscribers only. Based on how things work, we can’t always see reviews and stuff from other countries.

Austin Wilson:
And with shipping and customs, that makes it a little bit more simple.

Josh Robb:
Yeah, I think it’s a 50/50-

Austin Wilson:
We love you outside the U.S. though.

[24:39] – ICYMI: Last Week’s Episode, 20 Bold Predictions for 2020

But in case you missed it, also check out our recent episode where we gave 20 bold predictions for 2020, 20 bold, some of them are really bold, Josh.

Josh Robb:
Bold.

Austin Wilson:
And stay tuned, at the end of the year, we’re going to revisit these predictions and kind of give ourselves a grade. And by that point, we’ll probably make 21 more for the next year. We’ll have to see.

Josh Robb:
That’s a lot.

Austin Wilson:
Man, if we’re going to keep this-

Josh Robb:
30 years, it’s going to get rough.

Austin Wilson:
That’s going to be a lot of predictions to make. So yeah, thanks for joining us today. We’re so excited to have you listening. We hope you learned something. So if you did, just give us that subscribe button, hit it on your podcast player so that you know when we publish new episodes. Otherwise, just a thank you and we hope your January’s going well, and have a great day.

Josh Robb:
Yeah. See you later.

Austin Wilson:
Bye.

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 work 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 forecast 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.