There’s no better time than tax time! Because they can’t hold back their excitement, today Josh & Austin are discussing the relationship between taxes and your investments. They’ll be talking about the different ways taxes impact investments of yours, what tax-loss harvesting is and how it may be useful to you, tax-free investment options, and more. Tune in now to hear how taxes impact your investments!
Main Talking Points
The 4 Different Ways Taxes Impact Investments [3:18]
Tax-Loss Harvesting & Wash Sales [8:42]
Your Dad Joke of the Week! [14:02]
Tax-Free Investments [14:47]
Generational Wealth and Estate Taxes [18:37]
“Don’t Let the Tax Tail Wag the Investment Dog” [21:15]
Links & Resources
The Everyday Advisor – You MUST Sell Your Favorite Stocks
Social Media
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:
Alright hey, hey, hey welcome back to The Invested Dads Podcast. A posca… It sounds really bad. I’m doing this with a cough drop in my mouth.
Josh Robb:
Oh, that works.
Austin Wilson:
All right. Hey, Hey. Welcome back to The Invested Dads Podcast. A podcast where we take you on a journey to better your financial future. It is the most wonderful time of the year. So Josh, is it Christmas again or what are we going to talk about?
Josh Robb:
Oh no. It’s the most wonderful time of the year because tax time.
Austin Wilson:
Tax time.
Josh Robb:
Yes. You get to calculate what you owe to the government and maybe you’ve withheld some throughout the year, but then you get to balance your budget there with the IRS getting a clean sheet and say, “Okay, what I owed you has been paid. If I overpaid, give me the refund and everything’s squared off.” It’s tax time.
Austin Wilson:
Or if you want to go to jail, you can just avoid paying taxes forever.
Josh Robb:
You can try.
Austin Wilson:
So that it’s totally an option too. Yeah, my wife thinks I’m a little nerdy around tax time. It’s kind of like filing season opens up in early February and I’m like, “All right honey, let’s get all the papers together.
Josh Robb:
Let’s do it.
Austin Wilson:
I want that little refund. So yeah. So today we’re going to be talking about taxes. So Josh, tell us a little bit about that.
Josh Robb:
Yeah. So we’re discussing taxes not in this fact or the standpoint of you filing your tax turns. We’re talking about it from the standpoint of how do taxes impact your investments or how should the two interact with each other? Ben Franklin is quoted as saying, “In this world, nothing can be said to be certain except death and taxes.”
Austin Wilson:
That’s pretty morbid josh, why do we keep getting morbid on these episodes?
Josh Robb:
I tell you taxes are… I mean that’s the thing, the only thing certain in life.
Austin Wilson:
I mean we’re pretty cheery guys but anyway, so why would an investor be concerned with taxes anyway?
Josh Robb:
Yeah. So the easy answer is no one likes to pay taxes. No one likes to give money to the government, right? So we have all this stuff, we have our earnings, we have our income, and we got to give a portion to the government. Ideally we want to pay as little taxes as legally possible, all right. The government-
Austin Wilson:
Legally the key word there.
Josh Robb:
Right. The government sets here’s how much you have to pay. You don’t want to pay a penny over that, all right? You want to pay what you legally obligated to do and there’s a lot of opportunities and options in there to reduce that legal tax amount but you do still want to file and pay what’s owed to the government because there are… value to that. I mean, if you look at the security provided here in the United States, that’s a big piece of what the taxes go to.
Austin Wilson:
Yeah, the freedoms and the resources are pretty unparalleled to anywhere else. So yes, it’s going to cost a little bit of money to live in this place.
Josh Robb:
Right. And then it costs… You know, some of your taxes would… You know, they’re showed us taxes. Yeah, Social Security tax. There’s taxes that go towards benefits that you will receive in the future whether or not you agree with them or anything, that’s a whole nother debate but there’s value to those taxes and as a society, we’ve agreed upon this concept of everybody is taxed to cover the cost of the government.
[3:18] – The 4 Different Ways Taxes Impact Investments
Austin Wilson:
So there are four ways investments are taxed. So let’s talk about those. Let’s break those down individually. So number one way Josh is long-term capital gains. So that’s at a 15 or 20% rate. Tell us a little bit about long-term capital gains.
Josh Robb:
Yeah. So long-term capital gains. A capital gain is a gain on a capital asset. So a gain meaning… it’s crazy the naming of these things. So if I buy something for $1,000 and then I sell it for $2,000, I had a capital gain of $1,000. It went up. It’s from what I paid for it to what I sold it for. It’s the difference. Pretty easy and so the idea there is, all right, whenever I earn or have growth on something that I owned, I will have to pay for that growth.
There’s a tax on that growth. That’s the capital gain. So there’s long-term and short-term, we’re talking about the long-term. That’s if I’ve held it for more than a year. So if I held it for more than a year, when I sell it, I pay long-term capital gains tax rates, which are great because they’re 15 or 20% depending on your income, depending on what tax bracket you’re in, you could pay 15 or 20% which is usually lower than your current tax rates.
Austin Wilson:
Exactly. Yeah. So it’s hard to get too uptight about paying long-term capital gains tax rates if you have to.
Josh Robb:
Right. So you know, if I’m in the 20 to 24% tax bracket, I’m paying the 15% capital gains. So I’m saving some tax money if that’s how I’m getting my income or my growth in my portfolio.
Austin Wilson:
So long-term is greater than one year as opposed to short-term capital gains, which are taxed at your income rate, right?
Josh Robb:
Yes. So short-term would be anything sold within a year.
Austin Wilson:
Right.
Josh Robb:
So I buy it and then I sell it and if I have a gain on it. If it grew during that timeframe, I have to pay whatever my income tax rate is, is counted as just straight income and so that’s the difference. So maybe if I’m in the 10% tax bracket, that’s pretty exciting. I could save some money but I realistically your long-term capital gains are zero at that point so it’s irrelevant, but short-term capital gains are taxed usually at a higher tax than the long term. The other thing to note too is this is a leap year. I don’t know if that means you actually have to hold it one day longer. [crosstalk 00:05:22].
Austin Wilson:
A 366-day cap holding period.
Josh Robb:
So you’re penalized. Long-term capital gain is penalized this year.
Austin Wilson:
I don’t know how that works either. So then there would be, number three, interest income. Right?
Josh Robb:
Yeah.
Austin Wilson:
So that also is taxed at your income tax rate and this can be a result of your high interest savings account or as well as probably some coupons you would receive from corporate bonds are things or what’s coming to mind for me.
Josh Robb:
Yes. And so think about this very simple. I have a savings account at the bank and they’re charging me 0.01%… Are not charging me but paying me 0.01% for them holding my money and so every time I get monthly statement, “Oh look at that, I earn two pennies on my investment. Yay.” And so that’s the interest you’re going to pay tax on.
Austin Wilson:
I don’t think that they really even send tax forms out. It’s so inconsequential-
Josh Robb:
Yeah, so-
Austin Wilson:
… in most cases.
Josh Robb:
Because you’ve got round to the dollar anyway. So it’s irrelevant, but-
Austin Wilson:
I got a nickel.
Josh Robb:
The concept there is interest income is the interest or the growth on some sort of agreement so you know, you mentioned bonds. Bonds give you a coupon. So they say, here’s the percentage I’m going to pay per period, whether it’s a monthly, semi-annually, annually, whatever it is. I’m going to pay that to you and that income is taxed at your normal income rates. That’s an interest income.
Austin Wilson:
How does that work with zero coupon bonds?
Josh Robb:
Yeah, so you’re actually charged that during that timeframe and you’ll owe that during the timeframe. Some bonds allow you to defer it to the end. It’s really… It depends, but-
Austin Wilson:
You just take it off-
Josh Robb:
Zero coupons they factor in the growth because you pay a discount to premium. So there is a calculation there.
Austin Wilson:
So number four, the final way that we’re going to talk about any way that the tax is going to impact your investments are taxes for dividend income. Now qualified dividends, now that would be also if you held it for a year.
Josh Robb:
There’s some things that… The companies determine that qualification of the income, but most are qualified dividends. Most companies pay out qualified dividends. That’s a 15% as well. That’s the same as the long-term capital gain. So that’s again a benefit. So when I look at between the two of interest income and dividend income, I’m taxed more efficiently at dividend income and so again, when you’re looking at just straight taxes, dividends is a long-term capital gains are where you want your income to come from.
Austin Wilson:
Now we should also probably note that if you hold a foreign stock, so a stock outside of the US there. First of all the dividends that you receive from them are first taxed at the local authority tax rate for dividends and then you’re going to get taxed again in the US but you get a Fed tax form at the end of the year where you can get all of that second tax or all of the foreign tax that you paid back in the form of a tax credit.
Josh Robb:
Yep. The idea there is, the government said, “Okay, we understand you’re getting taxed twice, one from wherever this was originated and then one when it is brought here to the US for you.” They said, “Okay, we’re going to undo one of those because since you’re a US citizen, you’re paying us taxes. We’re going to undo that. So you get a credit.” So you pay it, then you get refunded or you get it… As part of your tax return, you get a credit that against you. So it’s a benefit you’ll see a lot of times just as a miscellaneous thing. You know again, a lot of times dividend come from that standpoint depending on how much international you own. It’s usually just a small amount, but you’ll see it sometimes. The question is where did this come from? And that’s usually what it is.
[8:42] – Tax-Loss Harvesting & Wash Sales
Austin Wilson:
So a buzzword around tax planning when it comes to investments and stuff like that is tax-loss harvesting. Now this is something that is usually done at the end of a calendar year. So not tax year think this was done probably by your advisor or whatever. They were looking at things in November and December, probably at the end of a calendar year and really that is when… When you’re looking at a taxable account, if you have… You know, it’s an account that is subject to capital gains.
At the end of the year your advisor can look at your account and see any positions that you have a long-term capital loss on and then they can sell those to then either reduce your taxable income or to offset a capital gain by selling something else that you would otherwise have a difficult time doing by itself, otherwise you’d just have to pay it. So that’s really a tax-loss harvesting. Now that is taxable accounts only, right Josh?
Josh Robb:
Yeah. So because this is offsetting gains and losses is really what you’re doing, it looks at it by category. So long-term, short-term, and you can… You know, if I have a long-term capital loss, I can offset my long-term capital gains. If I have a short-term loss, offset my short-term gains. You can carry over some of that and then a portion can carry over into your actual income. You can reduce your income up to a certain amount.
Austin Wilson:
Right.
Josh Robb:
But all that has to apply to if you were going to be taxed in the first place. So if I have a 401k or any kind of IRA, anything where the tax is deferred or if it’s tax-free like a Roth, then all that growth is irrelevant because I’m not paying tax in this tax year on the growth and so that’s the only thing you can offset it with.
Austin Wilson:
Now one thing you need to watch out for when you’re talking about tax-loss harvesting is suppose you like what you’re selling, but you have a loss on it and a sizable loss that you can really harvest that loss and offset some gains or whatever you want to do with it. If you like what you’re invested in, you need to be careful not to do what is called a wash sale. So you could sell something and then you could launder your money, like wash your sales.
Josh Robb:
That’s right. It’s a little different than money laundering, but the concept is there. Yeah.
Austin Wilson:
I think it sounds like Walter White.
Josh Robb:
Yes.
Austin Wilson:
So Josh, here’s a question.
Josh Robb:
Yes.
Austin Wilson:
If you and I were in Breaking Bad cooking meth, which we’re going to say cooking candy.
Josh Robb:
Yes.
Austin Wilson:
We’re going to cook some candy.
Josh Robb:
Okay.
Austin Wilson:
Because we don’t do drugs.
Josh Robb:
No. Drugs are bad.
Austin Wilson:
Would you be Walter or Jesse? And will I be Walter or Jesse?
Josh Robb:
I’ve not really seen the show to be honest with you. So who was the teacher?
Austin Wilson:
Walter White.
Josh Robb:
Walter is the teacher. Okay. You know for a little while I was actually an education major, so I don’t know.
Austin Wilson:
See. Okay, so you are Walt.
Josh Robb:
I don’t know. Possibly.
Austin Wilson:
I want to be Jesse.
Josh Robb:
Having not known anybody. Sure. Why not?
Austin Wilson:
I’m going to be Jesse. Okay. That was our Breaking Bad sidebar for the day. So anyway, wash sales. It’s not money laundering.
Josh Robb:
No.
Austin Wilson:
But it’s when you sell something and then within 30 days you then… So if you did it in December, when you’re looking at tax-loss harvesting, within 30 days you reinvest in the same security.
Josh Robb:
Or an identical security. Now that’s key.
Austin Wilson:
That’s confusing.
Josh Robb:
Yeah.
Austin Wilson:
Well isn’t it the same if it’s identical?
Josh Robb:
Yeah, but let’s say I’m buying… I think there’s a lot of kind of gray here but let’s say I’m owning the S&P 500 using an I share, which is just a company has ETFs and then I sell that. Then I buy a BlackRock S&P 500. Realistically, I just bought the exact same thing using two different companies’ holdings.
Austin Wilson:
I thought that was okay.
Josh Robb:
So I could sell and own… Let’s say I own a company and they’re a tech company. I could sell a tech company and buy a different tech company or buy an ETF of that tech company and get the same exposure, but I didn’t buy the same company. So there’s a caveat to that where you can’t buy something that’s equal to or the similar holding. So an example of that would be, let’s say I own a stock and I sell it for the loss.
I can’t go around and buy the exact same stock in 30 days. I also can’t do like an option of the same stock, like a long option. Meaning I’m positive or I’m bullish in this stock and I own a long call option or something. That would be… They would consider that a similar and identical transaction because you’re owning the same company and instead of owning the extra shares, you own the right to buy the shares later. So you have to be careful on what you own in that piece.
Austin Wilson:
So I think that a good rule of thumb is that when you’re working with your financial advisor for tax-loss harvesting, you’re working through and looking at maybe you sell some sell position at a loss to offset a gain, whatever. What you can do to maintain exposure is to buy what’s called a placeholder and in today’s world of commission free ETFs, it is very, very easy to buy a commission for ETF of the sector that you sold that position out of.
Josh Robb:
Yeah. Buy a tech stock, sell a tech stock.
Austin Wilson:
Buy a tech ETF
Josh Robb:
Buy a tech ETF. Now I’m owning the same sector. So if the market goes well-
Austin Wilson:
It’s not quite the same but it is close.
Josh Robb:
… it’s at least participate.
Austin Wilson:
And then you just wait-
Josh Robb:
31 days-
Austin Wilson:
30 days or whatever.
Josh Robb:
31-
Austin Wilson:
31 days. Yeah. And you sell the ETF and if you want then to buy that position again, you can buy that position again and have no issues.
Josh Robb:
Yep.
Austin Wilson:
So that is something that has really gotten lucrative in the commission free ETF world we live in now with most custodians offer-
Josh Robb:
Makes a lot easier.
Austin Wilson:
So it’s a lot easier to be able to do that. So yeah, that is wash sales. So one thing you need to watch out for when you’re working through tax-loss harvesting potentially with your financial advisor.
[14:02] – Your Dad Joke of the Week!
Austin Wilson:
Hey Josh, are you ready for the dad joke of the week?
Josh Robb:
I’m ready.
Austin Wilson:
All right, it’s a good one.
Josh Robb:
I need a laugh.
Austin Wilson:
Now you are not… Actually, I’m going to say that after.
Josh Robb:
Okay.
Austin Wilson:
Because I would ruin the joke if I said what I was about to say.
Josh Robb:
Okay.
Austin Wilson:
Josh, do cow mothers like coffee?
Josh Robb:
So mommy cows, you would think any mom that has kids would need-
Austin Wilson:
Need caffeine.
Josh Robb:
… need coffee. So not even like, but just need it.
Austin Wilson:
Got to have that caffeine.
Josh Robb:
What about mom cows?
Austin Wilson:
Yes they do like coffee but they prefer de-calf.
Josh Robb:
De-calf.
Austin Wilson:
So what I meant to say there was that Josh does not drink coffee.
Josh Robb:
I do not.
Austin Wilson:
He’s not a coffee drinker and I don’t know how he was walking most mornings because that caffeine is kind of necessary but that’s a funny joke specifically for him because-
Josh Robb:
De-calf.
[14:47] – Tax-Free Investments
Austin Wilson:
De-calf. All right. So Josh, tell us about tax-free investments.
Josh Robb:
Okay.
Austin Wilson:
Because you know what’s good is making money, but you know what’s great, making money without paying taxes on them.
Josh Robb:
Yeah. So there are some tax-free investments out there where the government has said whether it’s a federal or state level that they will not charge tax on that investment. We’re not going to go through all the options. There’s a lot out there but in general, when you think about government bonds, most of those are in some way or another tax-free and so some are federally, some are state level, some are both but the idea there is they’re saying there’s a benefit to the government by you holding these bonds and so as an incentive we’re going to give you a tax break on them.
So municipal bonds is an easy example of that. So if they have an Ohio municipal bond and municipal… Think of a municipal area, so like municipal courts, that’s the word for the local county, local area. So if I have a municipal bond, a muni bond for short, that means I’m owning a bond of that. So I may buy a… We’re here in Findlay, Ohio. Findlay may have a bond levy of some sort where they’re trying to raise money for something within the local government.
Austin Wilson:
That actually just happened.
Josh Robb:
It did. And so they were doing money for?
Austin Wilson:
Liberty Benton schools.
Josh Robb:
That’s right. So local school district here had local bonds and you could buy them and then you would own the bonds and own the debt of that school. They are rebuilding remodeling. Actually building a new school. So the idea there is I’d own that. Just like any bond, it would pay me interest. That interest-
Austin Wilson:
You are the loaner.
Josh Robb:
Yes. And so that interest that I’m getting would be tax-free from a state or local level. Federally, I may still have to pay taxes. It depends on the type of bond structure, but the idea is as a benefit and a way to encourage you to buy that bond instead of another bond, we’ll give you a tax break.
Austin Wilson:
So suppose you didn’t want to build your own muni bond ladder or corporate bond ladder or whatever. By buying individual bonds, you could buy either a mutual fund or an ETF. Those would have the same tax treatment as far the-
Josh Robb:
So the income they’re generating and then dispersing is tax-free.
Austin Wilson:
Is that the same tax-free that would be a bind to the underlying?
Josh Robb:
Yep. And so you-
Austin Wilson:
That makes sense.
Josh Robb:
… can get that benefit that way as well and so there’s… The benefit to that is, and the reason why the government does that is, if I don’t pay tax on it, they can offer less of a yield. They can offer to pay less…
Austin Wilson:
Exactly.
Josh Robb:
… but from a tax standpoint, I’m equal or better off even still. So they have less obligation to pay from a government standpoint and we get the same or better yield without the tax.
Austin Wilson:
And that’s where the term tax equivalent yield comes into play, where you can kind of like look and look at what the yield would be if it was taxable and you can kind of compare apples to apples or vice versa. Sometimes you can look at a taxable bond yield in a tax-free way and you can kind of compare apples to apples.
Josh Robb:
And there’s a couple of accounts that kind of have the same structure. If you think about health savings accounts, so if you have a high deductible plan a health savings account, you put money in and you don’t have to pay tax on the money. In fact you usually get a deduction on your tax return for contributing the money. It grows tax-free and then if you use it for healthcare expenses while you’re working-
Austin Wilson:
No penalty. Yeah.
Josh Robb:
… no tax.
Austin Wilson:
No tax. That’s great.
Josh Robb:
So that’s a way of also getting tax-free investments. The same is true with 529 plans. You put that money in, depending on your state, you may get a deduction either way it grows tax-free and then if you use it for education expenses, you don’t pay any tax on it. So the government has allowed in certain instances incentives to say, “Hey, if we don’t charge tax, will you save more in these scenarios where healthcare is expensive, college is expensive. If we give you some motivation, will you do it?” And so there are some opportunities out there to have tax-free investments.
Austin Wilson:
Tax-free investments. That is something we should all attain at some point in some way if it fits your investment plan. Talk with your financial advisor because they know what’s best for you but we like tax-free income as a rule of thumb.
[18:37] – Generational Wealth and Estate Taxes
Austin Wilson:
So Josh, let’s talk a little bit about generational wealth. About passing wealth from generation to generation and leaving a legacy behind.
Josh Robb:
Yeah. So we’ve been talking to this point about taxes year to year that you’re going to have to pay. Now most of it you can’t avoid. In fact when you’re paying taxes, it’s on new money. That’s kind of how our system is set up. You’re taxed on new money and so unfortunately as sad as it is to watch your money go out, that’s on earned money or new money, whether it’s gains or interest income or dividends or your earned income.
Austin Wilson:
That sounds like a rapper’s name, new money.
Josh Robb:
New money. So the idea there… But that’s the thing it’s a portion on some new money I didn’t have before and so as hard as it is for them to write that check to the IRS, it’s money you didn’t have before that and so you’re still better off than you were before. Now let’s switch to talk about, this is generational wealth. So if I pass away, there are estate taxes. Depending on my wealth level, I may owe estate taxes and it varies. The government can change that level at any point in time, it used to be lower and they jumped it up over $11 million per person. So most people don’t experience the estate tax like they used to but the idea is still is that if I can avoid it by strategically planning my estate, I can avoid. Because the estate tax is steep, we’re talking losing up to half of your wealth that way.
Austin Wilson:
It’s a big deal. It can change the outcome of what you plan on passing along.
Josh Robb:
Yeah. So an example of that is when we’re talking about those capital gains. So let’s say I am a 90 year old person.
Austin Wilson:
Not too far off.
Josh Robb:
Yup. And I have a taxable account and it’s done really well and I have a lot of gains. Let’s say of $100,000 account and when I invested, I only put 50,000 in. So now it’s doubled, it’s 100,000 so 50,000 of that whole growth I’m going to pay taxes on while I’m alive. If I say, you know what? I’m 90 I don’t have much longer to go. I don’t really want to pay this tax and all this money, I don’t need it. It’s going to my kids, grandkids, whoever. I can wait, not pay taxes and then when I pass and it goes to the next person, they get step up in the basis.
Meaning it goes from the $50,000 of money I contributed to whatever the value is when I die. So let’s say it’s 100,000. So now they have zero tax owed on that because that’s stepped up. It’s zero gains. They haven’t had a gain or loss. They could then sell it and choose how they want to invest it. So if there’s those planning strategies and I believe Jess wrote an article on that a little bit as well, and you’ll talk to that in a second, but the idea that the based on where we’re at in life will also determine what we do tax strategy wise.
[21:15] – “Don’t Let the Tax Tail Wag the Investment Dog”
Austin Wilson:
Exactly. So you kind of just mentioned it, but I guess an overarching theme here is that it’s not always best to do whatever it takes just to avoid paying more tax because you may have the opportunity to sell something that you shouldn’t sell or to buy something that you shouldn’t buy just for tax purposes, but taxes and tax-loss harvesting or whatever that might be, that is not a reason to alter your financial plan.
So I guess what we would say there is kind of the rule of thumb is don’t let the tax tail wag the investment dog. So don’t let tax change you doing what’s right for your situation when it comes to your investments and there was a great article that our colleague Jess or The Everyday Advisor wrote, and we’ll throw that link in the show notes there. Really talking about rebalancing. Talking about why you should sell your favorite stocks and why you really shouldn’t be tied, even if you have large amount of gains on things like that. It can really better your financial outcome by doing some rebalancing over time and all of that. So key rule of thumb there is not let the tax tail wag the investment dog.
Don’t let taxes change and make you make poor investment decisions just for tax purposes, stick to the plan over time and that is another great reason why it is so beneficial to work with a financial advisor in that way. So yeah, that’s something that we’ll throw down the show notes. Great read there. Take a look there. As always, check out our free gift to you. A brief list of Eight Timeless Principles of Investing. It’s free on our website. These are overarching investment themes meant to keep you on track to meet your long-term goals and so check that out. It’s really, really cool and really well put together. We’re really excited to be able to offer that to you guys.
Josh Robb:
Yep. And to help us grow. Make sure you subscribe to our podcast. If you know somebody that will like our podcast, make sure you share it with them. You can do it right there on your podcast app. Leave us a review, especially if you’re on Apple Podcasts. That would be great. Oh, it’s always beneficial. We love reading those reviews. Email us at hello at theinvesteddads.com if you have a cool idea you would like us to talk about and make sure, again, you’re sharing it with all your friends and family.
Austin Wilson:
And in case you missed it, check out our recent episode where we discussed investing for women specifically. When we discussed that with Jessica Hinks, the author of the financial blog, The Everyday Advisor. Check that out. We’ll put a link to that in the show notes as well.
Josh Robb:
Talk to you next time. Have a great day.
Austin Wilson:
Thanks. 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 the investeddads.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 forecast provided herein will prove to be correct. Past performance may not be indicative of future results indexes 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.
