It’s the end of the year, so tax-loss harvesting might be worth considering! Tax-loss harvesting is the selling of securities at a loss to offset a capital gains tax liability. In this week’s episode, Josh and Austin discuss why someone might consider doing this and how it could change your tax outcome. In the end, they suggest talking to a financial advisor or CPA to get their input, since they are the experts. Listen in today!
Main Talking Points
[0:52] – Tax-loss Harvesting
[5:12] – Why Do People Do This?
[10:47] – Dad Joke of the Week
[11:36] – Should You Tax-loss Harvest?
[13:20] – Changing Your Tax Outcome
[21:05] – Talk to Someone Who Knows
Links & Resources
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, a podcast where we take you on a journey to better your financial future. Josh, why are you wearing overalls and a straw hat?
Josh Robb:
Well, I though today we were going to be talking about harvesting.
Austin Wilson:
Well, that could be kind of what we’re talking about, but maybe not quite. What are we going to be talking about?
Josh Robb:
Well we are talking about a type of harvesting.
Austin Wilson:
Oh, good. Well, harvest season just kind of wrapped up.
Josh Robb:
It is wrapped up. It’s cold now. But this is a harvesting that people do at the end of the year for investments.
Austin Wilson:
Aha.
[0:52] – Tax-loss Harvesting
Josh Robb:
So this is tax-loss harvesting.
Austin Wilson:
Gotcha.
Josh Robb:
So when we’re talking harvesting, you think farmers, it’s pulling the crops off, right? Bringing your produce in. Well tax-loss harvesting is the idea where you are going to harvest, or bring, realize, your losses within your portfolio.
Austin Wilson:
Wait. Sometimes investments go down?
Josh Robb:
What? And not only that but-
Austin Wilson:
They also go up?
Josh Robb:
You’re supposed to sell them?
Austin Wilson:
And sell them? Yeah, this seems counterintuitive.
Josh Robb:
It is. So everything we’re talking about is buying, holding, don’t sell when it’s down, buy low, sell high, all that fun stuff.
Austin Wilson:
Except for sometimes.
Josh Robb:
Except for, what is this happening? So this is just a tax strategy, so the purpose of this is to either reduce, minimize, or offset gains in your portfolio. And so what is tax-loss harvesting? Let’s walk through and explain it. Then we’re going to talk about why you need to do it, and then where that fits with strategies.
Austin Wilson:
Exactly.
Josh Robb:
So what is tax-loss harvesting? It’s taking a loss on a holding, selling it, to offset a gain you had during that same year that you had sold for.
Josh Robb:
So for an example, I own two different stocks. All right? And I bought them a couple of years ago, and maybe we should start with that. So there are short term and long term gains on a holding. Austin, you can explain those pretty easy. What a short term gain is, how long do you have to hold it before it becomes long-term?
Austin Wilson:
It’s probably also noteworthy that what we’re talking about today, only applies to taxable accounts. This does not apply to IRAs, any retirement account kind of thing, tax sheltered, tax deferred, all of this stuff, not applicable. This is for a taxable investment account.
So yeah, short-term capital gains, short-term meaning less than one year holding period. So if you bought something in January of 2020, this is coming out in December of 2020, you will be in the short term category. You have held just the one year now.
Josh Robb:
Not a problem.
Austin Wilson:
And that’s okay. But if you’re holding it in less than one year, and you’re getting that short term capital gains and you sell, you’re going to be taxed at your income tax rate.
But if you hold something longer than a year, so if you bought it last November and you’re selling it in December of 2020, then you’ve held it more than one year, and if you sell it and they add a gain, you’re going to be taxed at a capital gains rate. And Josh, what are those capital gains breakdowns?
Josh Robb:
Yeah. For 2020, the capital gains tax rates are 0%. In other words, you owe nothing on this gain if your income is between zero and $80,000 for married filing jointly, for single filers it’s zero to $40,000.
Austin Wilson:
Is that like a hard break?
Josh Robb:
It is. And then above that, then you’re paying 15%, which is again, still lower than your taxable, right? But that’s from $80,000 to 400 and some thousand dollars. And then anything over the 400 and some thousand, it’s different for single or married, but they’re both in the mid forties, you’re paying 20%. But again, even at that point, you’re paying less than your income tax bracket.
Austin Wilson:
So that is gains.
Josh Robb:
That’s capital gains, yeah.
Austin Wilson:
Now, when you think about what we’re talking about is the loss harvesting side of it. Losses don’t have the same short and long term threshold.
Josh Robb:
They do in the timeframe. So if I sell something I had owned in less than a year, it’s a short-term loss-
Austin Wilson:
But you can use that to offset a long term gain.
Josh Robb:
So the reason it matters is first you offset whatever you are. So if I’m a short-term loss, I offset other short term gains. And then if there’s anything left over, I can then offset the other type of gain. All right. So that’s what tax-loss harvesting is.
The other piece of that is when that’s all said and done, if you still have a loss, so if there’s a year that you’ve offset all your gains and you still have a loss, you can actually take $3,000 of that against your income in that year.
So let’s say I have $9,000 of losses, $3,000 of gains. Okay? So then I net those out, so I’m left with $6,000. I can take $3,000 against my income this year. So reduce my income, saves me a little bit on tax. And then that left over $3,000-
Austin Wilson:
You can carry over?
Josh Robb:
I carry it to the next year and I have it until I use it.
Austin Wilson:
Tax-loss, carried forward.
[5:12] – Why Do People Do This?
Josh Robb:
Yes. It’s nice. So what is tax-loss harvesting? It’s just saying, “I have some losses. I’m going to offset some things I’m going to be taxed as gains on.” All right? And it starts with like to like, and then you can offset each other.
All right. So why do people do that? That’s what it is. Why do you do that? Well, the biggest idea is you can control taxes, and this is one of the ways to do it. And so you’re going to have to pay taxes at some point on gains. But if I’m going to, if at that same time I also have losses, I can offset those and reduce it a little bit.
Austin Wilson:
I guess the general thought is that less tax is more beneficial to everyone, except for the government.
Josh Robb:
Yes.
Austin Wilson:
So we all want to achieve less taxes in a legal and ethical way. And this is a perfectly legal and ethical way. It’s perfectly on the table. Yeah. I think that that’s just the general rule of thumb is if you can pay less taxes, why wouldn’t you?
Josh Robb:
And when we walk through the how there’s a couple, like why would someone sell something at a loss? Well, we’re going to talk through that in the how, of you’re really not getting out.
So when we say, “Don’t sell when it’s low,” we’re talking about you’re getting out of the opportunity to regain that. Right?
Austin Wilson:
Right.
Josh Robb:
So a good example is, okay, let’s say I’m in 2020 and I own some energy stocks. Chances are my energy stocks down.
Austin Wilson:
Very down.
Josh Robb:
Okay. That’s an example. Right now energy stocks are down this year, and if you held them long-term chances are you’re probably down still. Either way, let’s say I have a loss for that. Well, I think energy stocks are going to eventually come back, so I don’t want to be out of it, but I want to realize this on my taxes.
Josh Robb:
So what I’m going to do, what people do, is I’m going to sell, let’s say, I hold… Give me an energy stock?
Austin Wilson:
Chevron.
Josh Robb:
Chevron. Okay. So I own Chevron and I have a loss. So I’m going to sell Chevron, realize that loss. But I still, I have all this money now.
Austin Wilson:
You want energy exposure.
Josh Robb:
And I don’t want to sit out. I’m not selling because I’m panicking, I just am trying to maximize my tax efficiency. So I say, “Okay, I’m going to buy something to track the energy.” I can buy-
Austin Wilson:
So XLE, like the energy sector spider.
Josh Robb:
A SPDR ETF. I can buy an energy mutual fund. I could buy another energy holding. Now the government wants to make sure you’re not cheating the system. So again, make sure we’re doing this legally and correct. I can’t turn around and rebuy Chevron.
Austin Wilson:
Correct. For a period of time.
Josh Robb:
For a period of time. And I also cannot buy a substantially equivalent holding. So what does that mean? That’s one of those rule things.
Austin Wilson:
Room for interpretation.
Josh Robb:
So what that really means is I can’t buy something that is an equivalent to that. So an option, or something where it’s tied to that stock itself. So options are actually tied to the thing that you’re betting for or against. So I can’t own a Chevron option.
Austin Wilson:
Or a two share class company. You can’t go flip and buy any other shared class.
Josh Robb:
But I can buy, let’s say I like another energy name. Throw out another energy name.
Austin Wilson:
Marathon.
Josh Robb:
Marathon. So Marathon petroleum. So I sell Chevron buy marathon. Or, like we mentioned before, a lot of people use a placeholder, which is like an ETF or something.
Austin Wilson:
Yep. Because that allows you to participate in the market movement of what you’re selling while you can’t hold what you sold. But after 31 days.
Josh Robb:
Yes, it’s 30 days. I can’t buy.
Austin Wilson:
On the 31st day you can rebuy what you sold. So if you sold Chevron at a loss at the 1st of November, then at the 1st of December you can buy-
Josh Robb:
On the 31st day you buy it back.
Austin Wilson:
Yeah, so then you sell it, you buy XLE, the energy sector SPDR ETF as a placeholder, you get energy exposure during that month. And then on the 31st day, boom, you sell your sector SPDR, and then you buy back what you had already harvested that loss on. And you’re good. You’ve done your job.
Josh Robb:
Yep. And so what happened there? The government will look and say, “Okay, you held whatever the stock is, you had a loss, so now you get to offset any gains. And you did not rebuy that in the 30 day window,” which the term is a wash sale. You’re washing out that loss by repurchasing it.
So as long as you avoid the 30 days, they say, “Okay, that was fine.” And then you’re back to holding what you wanted. So long story short, this is a way that, especially, let’s say you’re in retirement and you have a taxable account, and you’re living off of that, so you take distributions out of that.
So throughout the year you’re selling to generate the cash that you need to live on. Well, throughout the year, you’re not really thinking too much about taxes because you just need that money to live on, you’d have to take the distribution.
At the end of the year. You can say, “Okay, now that I’m at the end of the year, I know how much gains I actually had throughout all that process. Can I reduce some of that?” So it’s really, you don’t just sell just to sell, you’re doing it strategically. You’re picking what you need. You just sell what’s at a loss.
Austin Wilson:
And you wouldn’t probably harvest losses unless you needed to offset gains. If you just don’t need that money, and you’re not generating any other gains, you could just roll with it and maybe it’ll bounce back or whatever.
Josh Robb:
So let’s say you have something else that goes on in your life where you realize a bunch of capital gains, whether it’s a sale of a business, or something else that has long-term capital gains, property, something like that, you can offset it with some losses, if you need to, to try to bring your tax brackets down. That’s all this really is for.
So how do you do it? It’s really simple as you just sell that thing, buy a placeholder, wait 31 days, buy it back. If you want it. I mean, you don’t have to. Most people do. They were holding it for a reason. And so they want to get it back in the portfolio. And then on your taxes, when it comes time, February of the next year when most people get their tax statement stuff sent to them from their custodian, it will show their capital gains and capital losses. So then when you’re doing your taxes, those two offset.
[10:47] – Dad Joke of the Week
So pretty straightforward, pretty easy. Let’s do a dad joke and then we’ll come back to who should do this, and kind of wrap it up.
Austin Wilson:
All right, Josh, I have got a good one for you.
Josh Robb:
Okay.
Austin Wilson:
What is a CPA’s favorite place to live?
Josh Robb:
Favorite place to live? I don’t know.
Austin Wilson:
Texas.
Josh Robb:
Texas. In Dallas, Texas?
Austin Wilson:
In Dallas, Texas. See, you primed me for that. I made that joke up. That’s an original.
Josh Robb:
It’s a good joke.
Austin Wilson:
But you said something about your brother lives in Texas, and I was like-
Josh Robb:
That’s a joke.
Austin Wilson:
“Oh, well, I’m just going to use that as…” Okay.
Josh Robb:
Use it.
Austin Wilson:
So I made that up.
Josh Robb:
Do you know where the CPAs get their clothes from?
Austin Wilson:
No.
Josh Robb:
Goodwill.
Austin Wilson:
That’s funny. Well, we’ll get into an accounting discussion at some other point. Man. Okay. So yes.
Josh Robb:
It’s a catch all. The Goodwill bucket’s a catch all for everything.
Austin Wilson:
You can cover up a lot. It’s like intangibles.
[11:36] – Should You Tax-loss Harvest?
Josh Robb:
Yeah. So getting back to it. Should I do that? That’s the question you ask?
Austin Wilson:
I don’t know, should you?
Josh Robb:
Should I be doing this? And the answer really depends.
Austin Wilson:
Oh, Josh. Oh, Josh.
Josh Robb:
I know you love this. Oh, it’s so good.
Austin Wilson:
Maybe is the answer. Yeah. In moderation, perhaps.
Josh Robb:
So the idea really is, do I have gains to offset? You know, you don’t have to sell everything that’s at a loss at the end of each year.
Austin Wilson:
And at some point, if it’s just a small loss, it’s immaterial in the grand scheme of things.
Josh Robb:
Then the second thing is, are there costs involved? So most of the time now with trade costs, there’s really no trade cost for purchasing and selling. There used to be, used to pay commissions for those. Hopefully, nowadays, most of you are not experiencing those. We have so many commission-free, transaction free products out there that you’re not experiencing. So that used to be a burden. Is it worth 495 trade for what I’m going to get out of this tax savings? You always ask that question.
And then the second thing is, is this the year to do it? Because maybe some of these losses are going to compound, or grow, that I could better utilize it in a future year. So should you do it? It really just depends. Do you have a high tax need this year to reduce your taxes?
Austin Wilson:
And it’s kind of funny. If you would’ve sat down with a manager, who’s managing money for people, or a CPA earlier in 2020, they would probably be thinking, “Okay, this is going to be a great year to harvest a bunch of losses. It’s going to be great.” And then you were sitting here in December and the stock market is at all time highs, and wow.
Josh Robb:
If you rode it out…
[13:20] – Changing Your Tax Outcome
Austin Wilson:
Yeah. If you rode it out, you probably don’t have a ton, other than energy or financials, probably are the two areas you probably could still have some losses. But in general, if you’re just holding a lot of equities, you’re doing okay. Not a ton of losses out there.
So I guess let’s kind of take a step back. So we had mentioned that this is the time of year that tax planning is starting to occur. There are things you can do before December 31st, and later, but we’ll get to that, to really look at how I can change the tax outcome for this year when I file my taxes next year.
So what are some other ideas of things that people can consider when they’re looking at their tax situation at the end of the year, going into next year?
Josh Robb:
Well, there’s one that’s very important. And those are, if you’re over the age of 72, the required distribution.
Austin Wilson:
Yeah. Oh, yeah.
Josh Robb:
So if you have an IRA account or 401k, any kind of tax deferred retirement account, meaning taxes have not been paid yet on that, those accounts have a required distribution for anybody 72 years or older. So if you’re in that boat, or if you have an inherited IRA, that’s a whole other thing. They just changed the tax law, so you have 10 years. But if you have a grandfathered in inherited IRA and you have been taking distributions, you still have to do that.
So in general, required distributions carry a heavy tax penalty if you don’t do them. So what I’m talking about is every year you calculate by 12:31, so my ending year value is my calculation point to say, how much money has to come out of that portfolio?
There’s a whole formula. You can get it on the IRS website. But it’s a factor, you divide it into the number, your ending value, it tells you how much you need. You have the full calendar year to take that out.
But by 12/31, at the end of the year, if that money is not out of that account, or in general, the overall portfolio, you get taxed. You have to take that money out, plus 50% of that value is taxed.
Austin Wilson:
That you had to take out.
Josh Robb:
So let’s say at a thousand dollar required distribution, then take it out, another $500, I don’t have to take out-
Austin Wilson:
It’s taxed. Yeah.
Josh Robb:
To give to the government. I mean, you don’t want to miss that. It’s a big tax break.
Austin Wilson:
And those numbers can be large.
Josh Robb:
Yes. So by the end of the year, you want to make sure you’ve taken your required distribution. Now I say that, 2020, the required distribution has been waived for this year. So if you haven’t taken it out yet, you do not need to.
You actually were able to put some back earlier this year, that’s passed it’s deadline, it’s irrelevant now. Let’s say you have required distribution in a normal year, but you don’t need the money. So if I take a distribution out of an IRA account, I get taxed on that. So if I take a thousand dollars out of my IRA, that shows a thousand dollars of income.
Austin Wilson:
They’ll tax that out of your income. Yep, exactly.
Josh Robb:
If I don’t need that money, but I have to take it out. One of the things I can do is give it to charity directly from my IRA. It’s called a qualified charitable distribution, a QCD. So we have an RMD, required, and then a QCD, a qualified charitable distribution.
Austin Wilson:
Required minimum distribution, qualified charitable distribution.
Josh Robb:
Like these little-
Austin Wilson:
And we had a whole episode on RMDs a while back.
Josh Robb:
Yes. And we talked through it, and we did talk about QCDs a little bit.
Austin Wilson:
Yeah. And we’ll link that in the show notes as well.
Josh Robb:
Both of those are year end, you got to do it by 12:31.
Austin Wilson:
You can do it at any point during the year, but got to be done by the end.
Josh Robb:
If you want it done in that year, it’s got to be done by the end of the year.
Austin Wilson:
Correct.
Josh Robb:
So that’s a way it doesn’t count as income for you. It goes straight to charity. We talked about all that, so we’re not going to go into detail, but that’s something that’s a year end. That’s the deadline. You can’t go past that.
The other thing that has a year end deadline is converting money out of an IRA into a Roth IRA. So again, this is an idea that if I have a year where it makes sense from a tax standpoint, where I am actually in a low tax bracket, I can take money in a regular IRA, whether that’s a traditional, rollover, simple, SEP, it doesn’t matter, convert it into a Roth IRA. And a conversion just means I’m moving it, paying tax on that process, it’s going to count as income, but once it’s in that Roth it grows tax-free for the rest of the time.
So if I’m in a low tax bracket and let’s say I’m in the 10% tax bracket, and because of where my income is, I have another $20,000 of income before I move to the 12% tax bracket. I could then move $20,000 from my IRA into my Roth, and I’d only be taxed at 10% on that move, which is great. Very low tax.
Austin Wilson:
Low is good.
Josh Robb:
So I do that. The most efficient way then is paying the tax outside of that distribution. So if I take $20,000, I want to move a full $20,000 into that Roth, and then the tax that I owe I pay from somewhere else. My taxable account, my bank account, checking account, whatever. Then I get a full conversion of $20,000 to the Roth. That has a 12/31 deadline as well. I have to do it in the calendar year.
Austin Wilson:
End of year.
Josh Robb:
Health Savings Account.
Austin Wilson:
Ooh, HSAs.
Josh Robb:
And so now we’re going to get into some contributions that are limited in the year. So an HSA has a limit to how much you can put into it in any one year, based on whether it’s a family plan or individual there’s a certain amount, and that varies, but I think the cap is right around $7,000, give or take.
I have to put that money in. It’s a use it or lose it type of idea. If I don’t do enough this year, next year, I can’t play catch up. I have to get that money in. So look at that. Your end of the year, if you have some extra money, maybe you get a bonus or something, you can say, “Okay, is there a room for me to put some extra into an HSA?” If I qualify for an HSA, that’s a good spot to put it in. Why is that a good spot, Austin?
Austin Wilson:
Well, because it’s tax deductible.
Josh Robb:
Tax deductible and grows tax free.
Austin Wilson:
And grows tax free.
Josh Robb:
And when you take it out for health care expenses, tax free.
Austin Wilson:
Exactly.
Josh Robb:
It’s called triple tax savings. So it’s a very efficient way of growing money, especially for health care expenses. And actually HSAs in retirement can be used for other things after you hit a certain age, which is even crazier.
Austin Wilson:
I know.
Josh Robb:
Now you do pay some taxes on some of those distributions, but it grows tax-free. So long story short, HSAs are a great saving vehicle. Part of the reason why they limit. Another thing that has limitations on it are IRA contributions.
So now there’s two. You have a traditional IRA, which is pre-tax, so you get a deduction. So if you need to reduce your income, that’s a spot you can do in a year. Now you can do this past the end of the year. You have until April on the tax day, April 15th, to make these. So these give you a little extra cushion in here.
Austin Wilson:
Josh, I always thought it was funny why they do that. Because you could just… You have one year of catch up, or whatever, and then it’s calendar.
Josh Robb:
Yeah. It’s just so weird.
Austin Wilson:
Might as well.
Josh Robb:
But for traditional and Roth IRAs, you have until April. Traditional will bring down your current years tax, Roth IRAs are taxed in your current years tax rate, but never taxed again. So you really just have to run the now say, which one gives me the best bang for my buck?
If they grow at the exact same rate and your tax bracket stays exactly the same, you get the same amount of money at the end. It’s really weird. So it’s more of a matter of, am I paying lower taxes now than I think I will in the future? Or am I paying higher taxes now? Determines which one you want.
Austin Wilson:
And it depends on A, the direction of your income, and B, the direction of taxes. And the general rule of thumb is that taxes are unlikely from this point to go down much. So always-
Josh Robb:
But let’s say I earn a ton of money, I’m in a very high tax bracket?
Austin Wilson:
Then when your income drops, your tax bracket will come down.
Josh Robb:
Traditional IRAs make a lot of sense at that point.
Austin Wilson:
Exactly.
Josh Robb:
So it really just depends on where you’re at. So IRAs, Roth IRAs, those type of contributions are great. You have a little extra time.
The last one is 401k contributions. Now that’s a little trickier because you can’t just turn around and write a check and drop it in most cases. So what you have to do is just say, “Okay, do I have some extra money? If I do, do I want to change my withholding’s on my paycheck for my last couple of paychecks into the end of the year?”
So again, coming back to, let’s say I get a cash bonus, or something at the end of the year, and okay, I’m set from a living expense standpoint. I could turn around and tell my employer, “Hey, for my next two paychecks, can you do a 100% withholding?” Or whatever the number is you want, get more money into your 401k.
Austin Wilson:
As long as you’re within the max. What, 19?
Josh Robb:
$19,500.
Austin Wilson:
$19,500.
[21:05] – Talk to Someone Who Knows
Josh Robb:
Or if you’re over 50, you get the extra $6,000 in there. And so the big thing there is just, if you’re trying to optimize pretax savings, 401k is a great vehicle to do that and get a higher limit. Because ROTHs are $6,000, 401ks are $19,500.
So you got a bigger bang for your buck there. So that takes a little extra planning, but again, that’s just year end, something to think about. So some planning that you could do at the end of the year, and these are all really just helping with taxes, either avoiding taxes, or reducing them.
Austin Wilson:
And I think that going through this list really brings to light the fact that this is not simple. This is not something that, unless you’re well-versed in the tax rules, which change every year, and all of these restrictions, and how you can move money, and how you can do this without incurring penalties, and all of this stuff.
It’s good to talk to someone who knows what’s going on. And that’s where Josh comes in. I ask him questions about this myself, because he’s the expert in my world. But this is where working with an advisor is going to be a benefit to you.
Josh Robb:
And a CPA.
Austin Wilson:
And a CPA, even together. Those typically as a team can be a very powerful… Especially as maybe you get older and you’re in situations where those taxes can make a lot big… Like when you’re younger, you can kind of understand where your money is going and maybe your gains aren’t as much, all this stuff. But as you get older, those numbers get bigger and you can definitely pull some levers.
So this is where if you’re working with a CPA for your tax piece, work with an advisor for your investment piece, and have the two work together, you can really make a difference in your outcome from there.
Josh Robb:
And the reason why they’re both helpful is a CPA, they’re tax minded. They see, “Okay, what can I do to reduce taxes?” All they care about is taxes, right? Which is important. And then the advisor is thinking, “Okay, I’m looking at long-term investing. How can I get these investments to perform, to meet those goals? Taxes are there, we’re aware of taxes, but that’s not driving our decision making.”
So that the CPA comes in and says, “Hey, look at this, think about this.” And they’re running those numbers from a different standpoint. So you’re getting two different kind of opinions or starting points. And if they work together, you get a really nice solution. So that’s ideal.
Austin Wilson:
So if you have any questions about tax-loss harvesting, or anything in your situation, feel free to reach out to us. We can help you out. There’s a “Invest With Us” tab where you can contact us and talk to us. That is a service that we provide to clients at our firm.
So if you’re interested, no pressure at all, but take a look. We’d be happy to chat with you about that. And as always check out our free gift to you. It’s a brief list of eight principles of timeless investing. These are overarching investment themes meant to keep you on track to meet your long-term goals. Check it out. It’s free on our website. Josh, how can people help us grow this podcast and continue to help people?
Josh Robb:
Yeah. As we are here at the end of the year, again at 2020, if you know somebody that is thinking about tax-loss harvesting, or talking about gains and losses, share this episode with them. Hopefully, that will be helpful. As we’re heading into the new year. We’d love to know what topics would you like to hear next?
Austin Wilson:
Absolutely. So please reach out to us at helloattheinvesteddads.com. Shoot us an email and tell us some topics that you’d love to hear about. And then lastly, leave us a review on Apple Podcasts, that helps us rank, the more people can find and hear about us.
Josh Robb:
Awesome. Well, until next Thursday, have a great week.
Austin Wilson:
All right. See you later. 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 principle. There is no assurance that any investment plan or strategy will be successful.
