Today Josh & Austin are providing 6 tips for the self-employed! Owning your own business can be a challenge, so today is dedicated to helping you understand some of the basic ways to help your finances if you are self-employed. You’ll hear topics like tracking expenses, dealing with taxes, retirement accounts, healthcare plans, and much more! Tune in now to hear your 6 Tips for the Self-Employed!
Main Talking Points
[2:57] – #1: Build an Emergency Fund
[4:35] – #2: Keep Separate Bank Accounts for Personal & Business Finances
[7:35] – #3: Keep Track of ALL of Your Expenses
[9:37] – #4: Set Aside a Portion of Income for Taxes
[13:25] – #5: Find Your Own Healthcare Plan
[16:29] – Dad Joke of the Week!
[17:04] – #6: Choose the Right Retirement Account for Your Situation
[26:31] – Send Us Your Ideas!
[27:22] – Your Free Gift: Eight Timeless Principles of Investing
Links & Resources
Retirement Plan Options for the Self-Employed
10 Facts About American Workers (Pew Research Center)
10 Must-Have Tools to Keep Your Finances Organized (U.S. News)
Invest With Us – The Invested Dads
Free Guide: 8 Timeless Principles of Investing
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:
All right. Hey, hey, hey! Welcome back to The Invested Dads Podcast. Thanks for listening in. Today we are going to shed some light on some of the best practices for managing your finances as someone who’s self-employed or a freelancer or a member of what we call the gig economy.
Austin Wilson:
So Josh, why would someone want to be self-employed?
Josh Robb:
The big thing is you get to be your own boss.
Austin Wilson:
BYOB.
Josh Robb:
Be Your Own Boss. Hey, there you go. Look at that.
Austin Wilson:
Wow, I just made that up, people.
Josh Robb:
So being your own boss is huge. That’s what being self-employed is all about. You have your schedule, your agenda, your priorities. You’re not having somebody else tell you what to do.
Austin Wilson:
The man.
Josh Robb:
Yeah. And according to the Pew Research Center, which we will link in the show notes, about 16 million people are self-employed. And self-employed people and their employees … So you can be self-employed and have people work for you, account for 30% of the workforce.
Austin Wilson:
That’s a lot.
Josh Robb:
That’s more than I realized before I read that article.
Austin Wilson:
That’s almost one third.
Josh Robb:
Yep. And so that’s a big chunk of the economy here in the US. That’s when they talk about small business, a lot of times that’s what they’re referencing and how powerful that is for our economy. But with great power comes great responsibility or that’s what my uncle Ben Parker always is telling me. So-
Austin Wilson:
My Spidey senses are tingling a little bit.
Josh Robb:
That’s right. And so self-employed people or freelance people, they have that responsibility to make sure they are on the right track financially because there is no employer offering them benefits and stuff to make sure that they are being covered.
Austin Wilson:
Yeah, that’s totally right. And there is a lot of opportunity for self-employed people so they can theoretically make as much money as they want. The more work, the better work they do, the more money they make. I actually think Dave Ramsey said something like over 70% of millionaires are self-made, meaning they didn’t really inherit any of that money. And most of those, I would imagine, were extremely driven business owners. So that is a pretty cool thing that you can achieve if you work hard enough. So one great thing about being self-employed is that you can also have multiple streams of income. So like on one hand you can be a graphic designer for some days, a video editor on other days and you can have a rocking YouTube channel to show off your mad knitting skills on the side. So that’s a pretty diverse bunch of income.
But this allows for the ebbs and flows of each to kind of balance each other out over time and allow even more flexibility. But let’s not forget that while the upside is huge for being self-employed, like you can make as much money as you want, there’s also a lot of risks. So if things don’t really work out that well for a certain month or year or you don’t execute on the plans that you had, you aren’t going to get paid. And I like eating. So if you don’t get paid you can’t really eat.
[2:57] – #1: Build an Emergency Fund
Austin Wilson:
So Josh, what the first item of our six things to consider when planning financially for your business?
Josh Robb:
Yeah. So the first one is something we’ve already talked about for other people or everyone is having an emergency fund. So this is important because if you’re self-employed, a lot of times your income is inconsistent, especially if you’re just getting started. So having an emergency fund build up to cover those inconsistent income months is beneficial. So you’re not relying on debt or credit cards to get you through and you’re not making choices that would hurt your business long-term just to cover those monthly expenses. And so what you want to do is kind of look at that and say, “Okay, if I’m going to be starting this small business, if I’m just starting out getting into the self-employed thing, I want to build up a reserve for …” Because it takes a while to get going.
If I’m watching that knitting YouTube, it’s not like I’m going to get sponsors the next day.
Austin Wilson:
And you have a lot of upfront … What is that stuff called?
Josh Robb:
There’s a lot of sheet that needs sheared.
Austin Wilson:
Yeah, yarn costs.
Josh Robb:
So the idea there is I need a reserve to get me through to get this business going. And then once I’m in my business, whatever that is, whether it’s freelance or self-employed, whatever, there’s months where it’s up, there’s months when it’s down. In those down months, I don’t want to be desperate looking for ways to get that cash where it may long-term hurt my business where I have to sell something or take on the debt that will then burden me through in the future. So having the emergency fund is huge to get started.
Austin Wilson:
Yeah. That’s probably more important for self-employed people than it would be for someone who is working for someone or a company that has that steady income all the time.
[4:35] – #2: Keep Separate Bank Accounts for Personal & Business Finances
Austin Wilson:
Number two is separate bank accounts for your personal finances and your business. So it’s always good if you own your own business, you’re a freelancer or whatever to keep things separate for your business and for yourself.
So number one, literally make separate bank accounts. So if you bank at a major institution, usually you can open up another bank account if you already have one for free or whatever. So have a business checking and a personal checking and then pay yourself from your business checking to your personal checking every month. And that way, it’s easy to keep track of and your business income and everything and all your business expenses are totally separate from what you’re seeing and what you’re actually living on in your daily life.
Josh Robb:
And the other reason why that’s important, we’re not attorneys here, but the way I understand it, if you have an LLC or something, you have liability protection. But if you co-mingle, you could break that separation and cause that liability to not be as strong against your personal assets. If you co-mingle those things.
Austin Wilson:
Yeah. Then theoretically someone could go after… well you’re living on and your business money if it’s all in one pocket.
Josh Robb:
Correct.
Austin Wilson:
Than instead of just your business. So yeah, exactly. That’s the limited liability part of that.
Austin Wilson:
So another point of that separate bank account thing is really to get in the habit of setting aside really whatever … Talk to your CPA about what percentage you should set up to get federal, state, local taxes and all that. But generally speaking, 20, 25% or whatever of your business income in a separate business savings account just for taxes. So you should get in that habit. If you get a check for $1,000, $250 goes into a separate account and you’re not going to use it to pay other bills or whatever for your business, that’s going to be held on so that you can pay your taxes. And we’re going to talk about taxes a little bit more here soon, but I think that that would be a very important thing just to make sure that you don’t wait until the end of the year and get hit with a huge tax bill and you don’t have enough money to cover it. That’s kind of how that happens there.
Another thing is to keep a separate dedicated credit or debit card for all your business expenses. Now, personally speaking, I’ve gone through phases where I’ve used debit cards or use credit cards personally and that’s one thing and there’s no right or wrong answer for that. Everyone has to make that choice on their own. But for a business purpose, using a credit card can be very beneficial because you can get some very powerful rewards or cash back because business expenses are substantial. It costs a lot of money to run and maintain a business. And if you use that all the time for all of your purposes or if you travel a lot, that can really add up and help your business out in a big way. So that’s a kind of a tip, but I will note that it’s just very important if you’re using a credit card, always pay off that full balance every single month. And then it’s just like using a debit card. You’re just getting some benefits with it.
Josh Robb:
Yeah, you just have to be consistent and disciplined to not overextend on that as well.
Austin Wilson:
Set up those automatic payments. That is the key right there.
[7:35] – #3: Keep Track of ALL of Your Expenses
Austin Wilson:
Kind of building off of that is to just keep close track of all of your expenses. So there are a lot of expenses, really reduce your taxable income. As a small business owner, you have your revenue, you have your income that you’re bringing in, but then you also have all of your expenses that you take off of that, and you’re only taxed on the profit, you’re taxed on the profit for your business. So if you get that $1,000 and you’ve got $750 worth of expenses in that period or whatever that would be, that’d be an exaggerated number probably for a year. But then you’d have $250 of taxable income. And you’re not taxed on the money you bring in, you’re taxed on your profit. So keep track of all of your expenses because those expenses help reduce your taxable income and it’s a good thing you had. It’s really necessary.
So keep track of your mileage. Your mileage is an expense that if you’re driving your vehicle for your business and you’re going places and stuff like that, you can take, as of 2019 … So I don’t know if they’re going to revise this again in 2020, but it was 58 cents a mile I believe for every mile you drove your personal vehicle. So track your mileage. There’s an app, and this is not sponsored at all, but my wife uses an app called Mile Mate and it’s free and it automatically tracks your trips on your phone and then as soon as you stop or whatever, it says, “Hey, was this personal or was this business?” And you can just select personal or business. And then at the end of the year, you’ve got it grouped by months, grouped by day, grouped by whatever, and you’ve got your summary of all of the mileage that you can write off. So that’s kind of cool.
Also when you’re budgeting, planning your personal amount that you’re going to be living on as your salary kind of thing from your business there. Look at your lowest income month from the previous year. Start with that as your base amount to start your budget. And then in the months that you’re above that, have a list of things you’d like to accomplish and order them from most important to least and just work your way down your list as you get extra income. But kind of as a rule of thumb, just kind of live on those leaner month amounts and then you have more opportunity to kind of expand and grow as you go there.
[9:37] – #4: Set Aside a Portion of Income for Taxes
Austin Wilson:
So Josh, taxes are a tough thing. They’re a really tough thing for self-employed people. So talk about that a little.
Josh Robb:
Yeah. So when you’re self-employed or a freelancer, your income’s going to show up on a schedule C. and so if you work for an employer, you get usually a W-2 and that’s your wages and it shows up. And the big difference really is on your W-2 you can withhold taxes. And so as we were talking about earlier, the taxes can be withheld every paycheck. That way when it comes tax time, you’ve already paid the IRS what’s owed on your earnings. When you’re self-employed, there is nobody withholding. And so you’re responsible for doing that yourself. And like we mentioned before, we just encourage you to set that aside.
So every quarter, you could pay quarterly, which is the way the IRS prefers it. If you wait too long, then there’s penalties and stuff and interest.
Austin Wilson:
We don’t like penalties.
Josh Robb:
No. So we recommend you just set that aside as when income comes in, put some aside. The benefit is, at the end of the quarter, if it’s three months worth, you have to go around and find all the money that you’ve already spent, it gets stressful. And so set that aside.
The other thing that’s crazy about this is again, when you go back to your W-2, when you have an employee or an employee, the employer pays a portion of the taxes owed for Medicare and Social Security. They pay half, you pay half. So if you get a regular check from your employer, if you look on there, they deduct Social Security and Medicare tax off of your income. That’s only half of what’s actually paid to the IRS. When you’re self-employed, guess what? You’re the employer, you’re the employee-
Austin Wilson:
Yeah, that’s right. Double hit them.
Josh Robb:
-you pay both. Now the plus side is you can deduct some of this on your taxes because the IRS, they understand that you’re paying both there. The responsibility falls on you, but you still have to pay that even though can deduct it later. And so you have to make sure you’re setting that aside. And that amounts to about 15.3% when you take both halves of it. So that’s on top of that federal, state and local.
So again, you’re setting aside about 40% of your income to be safe over for taxes when you take both those off. Now obviously you’re going to get that deduction back so you can talk to your CPA about what makes the most sense for you in withholding and deducting. But make sure you don’t get caught in April owing a bunch of money because not only will you have to find that somewhere in your cash reserve, but you’re also going to probably be paying some interest for not paying it on a timely basis.
So that’s really important. And when it comes to taxes, there are a lot of things you can deduct though as a self-employed person. I’ve also mentioned, if you’re very diligent in tracking your expenses, a lot of those expenses can reduce your income. So you’re not paying on all the money that comes in, you’re actually paying on your net income. Your income minus your expenses. So tracking your expenses like Austin said, is huge because that will reduce your taxable income. And when we start talking about the ways of saving for retirement, there’s different things that you calculate off of it. And so that can come into play.
Austin Wilson:
Yeah. Some examples that you sometimes wouldn’t think of is like if you have a dedicated home office that you work in, the square footage of that … Now, there’s two ways you can do that. There’s a simple way where you just get a set dollar per square foot or whatever and then there’s a more complicated way where you can actually write off a portion of all the utilities and the yada, yada, yada. But just in general on that schedule C, you can deduct some expenses from your dedicated home office and that’s a really helpful thing can really add up. As well as your cell phone bill, if you’re a small business owner is likely going to be used a lot for your business. And a lot of that can be written off as well.
So there’s a lot of really helpful things that can really bring down that taxable income. So that you may say you make … You can make a lot less on paper than you actually bring home. That’s how the small business world works.
[13:25] – #5: Find Your Own Healthcare Plan
Josh Robb:
Yep. And the other side of it, too, is healthcare. So healthcare is very expensive. If you’re self-employed, you’re finding your own healthcare, you can deduct those expenses as well in most cases, not just for you but for your whole family a lot of times.
Austin Wilson:
Yeah, that’s actually number five on our list here. So health insurance for small business owners is way different usually than it is for someone who’s working for a company. So if you’re working for a company, you’re typically offered a health insurance plan and you can participate in the plan and it comes out of your paycheck every month or every week or every two weeks, whatever that is. And you’re paying for yours or yours and your family’s insurance through that. It’s pretty much a set plan and you’re just a part of the plan. It’s great.
If you are a self-employed person, you are responsible for finding health insurance on your own. Now I think we did away with … There’s no penalty to not have insurance. We would always recommend people have health insurance because if you don’t, you’re going to get burnt probably at some point. But you are responsible for finding that healthcare plan and there’s a number of different ways that you can go about that. You can do it through the government website, obviously still, but you can also do things … Some unusual things that some people do are like what’s called a Medi-Share plan and things like that where it’s kind of a group of people that go together. And it’s a company that runs it, but they pay a set number of dollars every month and really they share in the cost of the expenses over time for all of these pool of people. And that’s a way that people do that.
So there’s also things to consider when you look at this kind of thing like disability, long-term disability, should you get hurt or get sick for a long term, that can really impact your family. If you’re the sole provider and you own a business, you don’t have any other way of bringing in money during that time. So it’s important to have some of that coverage.
Josh Robb:
Yeah. When you look at disability, short term and long-term, because even if I get injured and I’m out for two, three weeks, the long-term insurance normally doesn’t kick in until after a couple months depending on what your policy is. But that short term, if I’m not working and I’m self-employed, that means there’s zero income coming in. So short term disability is also important. And then you have life insurance. So life insurance is what if something happens to me that’s catastrophic and I die? So if my family’s income is reliant on me as a self-employed person, that business doesn’t continue on in most cases unless I have partners or something. But either way I need something that will provide for my family.
And then when you do have partners or any kind of … If you’re self-employed maybe with a partner, you want some sort of insurance to compensate the other person because their business is going to be impacted where you have kind of cross policies where you insure each other. So they also get paid to help either keep the business going so they can hire in somebody new or they can make the adjustment for them as well. And so there’s a lot of insurance issues you want to look into and talk to your financial advisor about what do I need to adequately cover in case those worst case scenarios do play out.
Austin Wilson:
And I think that we are going to have a dedicated life insurance episode in the future. So stay tuned for that. There’s a lot of different aspects that you can think about with that topic. So we’ll go a little bit more in depth, but that’s just kind of a high level. And that was number five.
[16:29] – Your Dad Joke of the Week!
Austin Wilson:
So Josh, do you have something for me?
Josh Robb:
I do. I have a dad joke of the week. All right. And this is … you and I were just talking, we’ve got young kids and this one hits close to home.
So if a child refuses to sleep during their nap time, does that make them guilty of resisting arrest?
Austin Wilson:
Yeah, that is a little too close to home I think, Josh. This has really been a thing in my house. I have a two-year-old and she’s wonderful, but her naps are like 30 minutes one day, three hours another day. I think she resists arrest all the time.
Josh Robb:
All the time.
Austin Wilson:
All the time. Oh that’s so good.
[17:04] – #6: Choose the Right Retirement Account for Your Situation
Austin Wilson:
So Josh, one big key point and our last, our sixth of our list of things that self-employed people should consider is how would someone who’s self-employed or working in the gig economy, freelancer, whatever you want to call it, how would they save for retirement? Because that burden is completely on their shoulders, where if you’re working for a company, there’s a plan you’re part of and you’re getting probably some additional help with that as well. But especially just the organization of it and availability of it.
Josh Robb:
Yeah. So the idea there is … First of all, make sure your other goals are met. You don’t want to be saving for retirement and then falling short on a monthly basis for your living expenses. So make sure whatever you’re doing as a self-employed is covering those in your having additional left over.
So if that’s the case, then there’s a good summary of some of these options from an article on NerdWallet, which we’ll link in the show notes below. But without having an employer providing these things, it’s kind of up to you to offer this. And if you have employees, some of these work for that as well to make sure that they’re also saving for retirement.
But one of the easiest ones to do, and this can be done for anybody, whether you’re self-employed or a regular employment through a company is opening up a traditional or a Roth IRA. So as long as you have income within the limits, you can contribute $6,000 or an additional 1,000 if you’re 50 or over, per year, as long as you have earned income. And also the nice thing is your spouse can do that as well, regardless of them having income. If you file together, IRS looks at your joint income and says, as long as you each have income together, then you’re okay.
The phase out limits are, if you make under $196,000 together filing jointly, you can both contribute the full max amount. If you make more than that, they limit how much you can contribute. Then over two hundred and like six thousand or something like that, you then can’t contribute at all. But for a lot of people that they’re in that income range, they can fully contribute to a traditional or a Roth IRA.
The big difference between those two, a traditional IRA, the money goes in pretax, meaning you get to deduct that, you don’t pay taxes on your tax return, that income. So if I contribute 6,000, I’ll show 6,000 less of income on my tax return. A Roth IRA’s the opposite. You pay tax on it now so it shows up as tax, so full income. And then it grows tax free and there’s no tax owed when you withdraw. Whereas a traditional IRA, although since I pay tax now, it grows tax free. I’m sorry. The traditional IRA, because I don’t pay tax now it grows tax deferred-
Austin Wilson:
You pay taxes on it when you take it out.
Josh Robb:
-when I pull it out to pay tax. So depending on when you want to pay taxes now or later, those either are an option for you. The limit though, is for both. So you can’t do six in each. 6,000 is your limit total. Another option, similar is called a SEP IRA and so that’s for self-employed people. They can-
Austin Wilson:
Is that what SEP stands for?
Josh Robb:
Self-Employed Pension I think is the term.
Austin Wilson:
Oh, okay. See? This is why I have Josh in my life.
Josh Robb:
Yep. The idea there is you can do 57,000 or up to 25% of your net earnings and I’ll explain in a minute what net earnings are. But there is an earnings cap of $280,000. So again, most people fall in that. So that’s how you can … anything above that, your 25% is capped on that 280…
But self-employment income is, so you take your net profit, so that net meaning after your expenses, net profit, then you subtract half of your self-employment taxes paid and you subtract your contributions that you’re making. And then that’s your amount. So it’s a really fun number to calculate to. Talk to your CPA about that one. It’s a weird … Because it’s kind of a moving number.
Austin Wilson:
You need the spreadsheet for that one.
Josh Robb:
Yep. But there are no catch-up contributions. So it’s $57,000 and then whatever you contribute into your SEP IRA, if you have employees, you have to do the same percentage. So let’s say you put 15% into yours. So I take my salary, I put 15% in and everything’s an employee or contribution. So there’s no employees-employer separation.
Austin Wilson:
It’s all… it’s on you.
Josh Robb:
Yeah, the company’s putting this is.
Josh Robb:
So if I do 15% of my compensation, any employees I have, I have to do 15% of theirs as well. It’s just flat across the board. And so for people with employees, this sometimes can get very expensive. But you can put a lot of money in that 57,000.
Another option is a SIMPLE IRA. They call it SIMPLE because it really is pretty simple.
Austin Wilson:
We like to keep it simple here.
Josh Robb:
You don’t have to do any additional tax filings at the end of the year for these. The limit for that is $13,500. So it’s more than a traditional IRA or a Roth IRA, but less than that SEP IRA. If you’re over 50 you can do an extra 3,000 so it’s 16,500 for 50 and over. But the big difference here is a SEP IRA, it’s all company money. For a simple IRA, you can contribute that max, that 13,500 and then the company will either give you a match of 3%. So if I put in 3%, they match it 3% and then they cap out there or they’ll do a flat 2% regardless of what you put in. So the company has two choices, but they’re limited to how much they can do.
But that is another way. It’s very popular for small businesses to have employees somewhere between like one and a hundred employees. This is a very popular one because it doesn’t cost a company as much, but it encourages them to save as well.
And then finally there’s the Solo 401k. And so the idea there is you can also do the 57,000, similar to the SEP IRA, is the max you can put in plus the catch-up of 6,500 so there’s a little extra there. But the rule, you cannot have employees for a Solo 401k. If you have employees, it is just a regular 401k.
Austin Wilson:
It’s not a Solo. You’re not solo.
Josh Robb:
Right. Now, there is one exception. You can count your spouse in this. So you could pay your spouse a salary from your business and still have Solo 401k for you and your spouse. Your spouse is considered … Since, again, when they look at businesses, there’s a lot of overlap there between a spouse and how work is distributed. So this does separate out employee-employer, like a regular 401k.
Josh Robb:
And so the employee has those contribution limits. Like the normal 401k, which is in 2020, 19,500. And then there’s the 6,500 catch-up, then the employer can do up to 25% of the compensation similar to the SEP IRA. And they do the same calculation similar to that as well on how you figure out what the net compensation is. But the concept there is, if it’s just me and my spouse, this is probably the most money I could put away because we can each do that 57,000 total. So both of us. So that’s-
Austin Wilson:
Yeah, that can add up.
Josh Robb:
Yeah, it can add up. And when it comes to my contribution limits, by the way, I could do up to a 100% of my compensation, whereas in the SEP, since it’s all employer, that 25 cap plays into it. So if I make whatever, but my spouse is really just there for saving. I pay her a salary, then I have 100% of that contributed into her 401k, her Solo 401k. So then they get the company match, which I’m paying out in the company money. And so really, she sees no money come home, there’s no paycheck, but I’m contributing that whole amount.
Austin Wilson:
Really helps your … Yeah, you’re saving.
Josh Robb:
Yeah. It’s a way of saving more.
Josh Robb:
The downside to this whole 401k is like regular 401ks, there are tax filings involved for the plan. Now, if your plan is smaller, it’s very limited to only very small filing so it’s not too expensive to set up. But there is some stuff you have to watch out for the IRS.
Austin Wilson:
So with the 401k … So a self-employed person or some small business owner, they could actually set up a normal 401k plan as well for their employees and through provisions in the SECURE Act that was recently passed, they can share the cost and the burden of that with other companies as well, other small business.
Josh Robb:
Yeah. So what you’re talking about. So let’s say I do have employees, so the Solo 401k doesn’t work. But I would love that 401k option for a lot of the benefits that 401ks offer. You can borrow, you can take loans from it, they have an early retirement age you can set up to allow distributions out before 59 and a half. There’s contribution or match limits that are higher than the simple IRA. So there’s a lot of benefits to a 401k. So let’s say, yeah, I have employees and I want to offer that. Yeah, with this new SECURE Act, all the burden doesn’t have to be on me. I could find five or six businesses that are small that are also thinking the same thing. We’d go together, make one plan as a whole.
Austin Wilson:
Pool it.
Josh Robb:
Yep. And all together we’re splitting that cost. And so yeah, you’re right. With this new SECURE Act, it makes it a lot easier for a small business to have a 401ks plan to share that cost burden with multiple employers.
Austin Wilson:
And we talked about that. We had an episode on the SECURE Act.
Josh Robb:
We did a SECURE Act episode.
Austin Wilson:
So take a listen to that. We’ll link that in the show notes as well. It goes into a little bit more depth on that, but mostly there’s a lot more to the SECURE Act that we talked about, too.
Josh Robb:
Right. But it is a benefit because one of the biggest burdens is the startup cost to a 401k. There’s a lot of costs in testing and figuring it all out that a small business may not want to occur early on.
Austin Wilson:
So that is a lot to think about, Josh. And thank you for helping us go through that. I think that hopefully we can help people out as they’re planning maybe what they want to do as a small business owner.
[26:31] – Send Us Your Ideas!
Austin Wilson:
I did want a shout out to Grace, she provided this idea, this topic idea. She sent in a suggestion on that and that was great. So shout out to Grace in Rushsylvania, Ohio. That was awesome.
Josh Robb:
I don’t know where that is.
Austin Wilson:
It’s the middle of cornfields from what I understand. But that is a reminder that if you have a topic that you would like to discuss on this podcast, feel free to send us an email at Hello at TheInvestedDads.com.
We would love to hear from you or if you just have feedback or questions or whatever. So don’t feel like you can’t reach out. We are here for you, we’re here to help you, but we’re always looking for new things to talk about because we want to talk about what you want to talk about. This podcast is not for us. Josh and I can talk to each other and do.
Josh Robb:
And we do.
Austin Wilson:
Every day. So let us know what you want to hear about and we will talk about it. But like I said, that is a lot to talk about when you’re talking about self-employed finances.
[27:22] – Your Free Gift: Eight Timeless Principles of Investing
Austin Wilson:
But to go along with those thoughts that Josh has had on retirement and planning for that, check out our free gift to you, which is a brief list of Eight Timeless Principles of Investing available on our website. It’s a nice little PDF that you can get and just make sure that you’re on track with what you want to do to achieve your long-term goals. So check that out.
Josh Robb:
And also if you want to help us grow this podcast, our goal is to reach out and impact as many people as possible with kind of educating them on financial topics.
If you can help us out, subscribe to our podcast, you could leave a review on Apple Podcasts. That’s great for us. It helps us show up better in searches, which means more people can find us. And like Austin said, if you have any ideas, email us at Hello at TheInvestedDads, and we’d love to talk about the things you’re interested in.
And then also if you want to share this article or this episode with anybody that you think is either considering being self-employed or is self-employed, that may help them out.
Austin Wilson:
Yeah, click that share button on your podcast player and text that or email that to that person and hopefully they can find that beneficial as well.
In case you missed it, we also had a recent episode where we discussed renting versus buying a home, so check that out. That was a fun episode to discuss, so we really appreciate you being here and we’ll talk soon.
Josh Robb:
Yep, talk to 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 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.
