Josh and Austin are back this week answering one of the most frequently asked questions in the finance world… should you pay off your mortgage early? In this episode the guys revisit the debt snowball and avalanche methods, pros and cons to paying your mortgage off early, and if it is possible to do both. If you’re wondering whether or not this would be the right financial move for you, listen in now!
Main Talking Points
[1:41] – Should You Pay Off Your Mortgage Early?
[9:20] – Emotions in Investing
[12:08] – Debt Snowball and Avalanche Methods
[13:25] – Dad Joke of the Week
[13:47] – Pros to Paying Your Mortgage Off Early
[17:26] – Cons to Paying Your Mortgage Off Early
[18:56] – Mortgage Interest Deduction
[20:09] – Can You Do Both?
Links & Resources
Pay Off Your Mortgage or Invest? – MoneyMade
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. The podcast where we take you on a journey to better your financial future. Today, we are talking about a very common question we hear in the finance world.
Josh Robb:
Oh, you going to ask me it? Or you want me to ask you it?
Austin Wilson:
The question is why is it okay for the government to run a gigantic deficit but not actual people paying the taxes? Why can’t I run a deficit?
Josh Robb:
I didn’t even want to ask that question. That’s a question I’m not even going to stick my finger into that debate.
Austin Wilson:
I know it is not even worth talking about, I just wanted to see your face.
Josh Robb:
No I don’t, I’m not.
Austin Wilson:
That is a great question. And we probably should talk about why it is different.
Josh Robb:
We will talk about that at some point.
Austin Wilson:
That’s going to be…
Josh Robb:
Politically it is a hot topic right now.
Austin Wilson:
Woo! Smoking!
Josh Robb:
I mean just got through the debt crisis. They’ve extended to December.
Austin Wilson:
Well until December. Maybe we’ll revisit it in December.
Josh Robb:
I mean, for politics, that’s all a lifetime away. You’ve got so many things to do.
Austin Wilson:
So many things between now and December,
Josh Robb:
So many breaks, and vacations.
Austin Wilson:
That’s not what we’re talking about. Oh yeah, so many golf trips.
Josh Robb:
Yeah.
[1:41] – Should You Pay Off Your Mortgage Early?
Austin Wilson:
So yes, Josh, that is not we’re talking about. But in general, how government finances operate would be a great topic one day. Well, we can totally revisit that. My joke went over well, in that instance today, we’re actually talking about a different kind of debt and that debt being, should you pay off your mortgage early? So that’s mortgage kind of debt. Or should you invest if you have extra money? So Josh, here’s the question: Should you do that? Should you pay off your mortgage early?
Josh Robb:
Great question. And you know, my answer to almost all these questions.
Austin Wilson:
Oh man.
Josh Robb:
Is it depends. I mean, your situation is unique. Everybody has different things going on, so it’s hard to give a blanket answer, but high level, the answer for me is always talk to your financial advisor about your situation.
Austin Wilson:
All right. Well until next week, have a good one.
Josh Robb:
That’s great.
Austin Wilson:
Okay. So yes, the answer is a bit more nuanced than yes or no.
Josh Robb:
But we can look at high level, talk through those different choices the two sides of the choices and maybe give you an alternative at the end of a compromise between those two, because you know, my favorite thing is moderation and maybe you could find a little bit of a moderation between those two.
Austin Wilson:
Wow. Josh, what a way to not pick a side.
Josh Robb:
That’s right I’m good at that.
Austin Wilson:
That’s the way you are. Wait middle child?
Josh Robb:
No, there’s five of us and I’m the second.
Austin Wilson:
But you’re in the middle.
Josh Robb:
I am in the middle.
Austin Wilson:
So you would naturally.
Josh Robb:
I am not the first born or the last born.
Austin Wilson:
Yeah, but you would naturally be a more mediator type person.
Josh Robb:
I am, yeah.
Austin Wilson:
That makes a lot of sense. Okay so I am going to start with numbers.
Josh Robb:
Let’s do some numbers.
Austin Wilson:
Because I talk numbers. I think numbers, numbers are the way I go, but there’s more to it than numbers, we’ll get to that. So here’s the way I see it. if you got, or you refinanced your mortgage really anytime since the global financial crisis, but especially within the last…
Josh Robb:
Global financial crisis.
Austin Wilson:
It was a crisis.
Josh Robb:
When was that?
Austin Wilson:
That was 2008, 2009.
Josh Robb:
oh wasn’t it last year?
Austin Wilson:
It really trickled. That was a different crisis.
Josh Robb:
Okay.
Austin Wilson:
Really trickled on for years after that. But anyway, global financial crisis since then interest rates have been very low in general. And they were really low again coming out of COVID as the Fed cut rates again.
Josh Robb:
We saw, historically low interest rates.
Austin Wilson:
Historic low, all time, low mortgage rates, all kinds of things. So a lot of people refinanced bought a house, all kinds of things happening then. So generally speaking, you’re probably, if you have a house that purchased since the global financial crisis, you probably have a 4% or less interest rate on your mortgage. If you got a fixed rate mortgage.
Josh Robb:
Yeah, really. I guess we should start with, your interest rate is really dictated by a couple things. The mortgage company is going to run a calculation, say the rate is to compensate them for the risk of you not being able to pay that obligation. And so there’s a range there if you have decent credit, have some equity in home, meaning you’re able to do a down payment and you have good history of payments and have good cash flow. Yeah, 4% or below is probably a good interest rate.
Austin Wilson:
Yeah. It could probably be a little higher, maybe a little lower. Who knows.
Josh Robb:
Or maybe have some PMI or whatever to move the rates around. But yeah, you’re right. Somewhere between 2 and 4% is probably where a lot of people are sitting.
Austin Wilson:
Yeah. If you meet those same boxes and you refinance within the last year or two, you’re probably 2 or 3% depending on where you’re at, at your loan length and all of that. So anyway, those are the basic numbers we’re going to start with. Say call it two to 4% for your fixed rate mortgage. So say you have a 30 year mortgage, 3% interest rate. You are then paying 3% annually, although it’s amortized monthly to borrow that money so the outstanding balance is what your charge interest on really every month. So it goes down a teeny little bit every single month, the interest piece, that’s how that works. So your loan, it cost you 3%. So when you make additional payments, that typically goes directly to principle. although double check that with your mortgage, because some mortgages have prepayment penalties. Some of it just applies…
Josh Robb:
Those are just dumb.
Austin Wilson:
Yeah. And some of it applies it to the next payment instead of no, we don’t want do that. We want it towards principal only. So essentially you’re earning 3% on your “investment”.
Josh Robb:
Right because you know that’s a guaranteed payment and if I can eliminate it, I just saved myself that 3% was going to happen.
Austin Wilson:
Absolutely. Yep. So all of the things equal, you’re earning 3% on your money because you’re making extra payments that go directly to principal.
Josh Robb:
3%, not bad.
Austin Wilson:
3% that is not that bad.
Josh Robb:
Better than my savings account.
Austin Wilson:
You’re at least keeping up within inflation historically. Although not as of late. So 3% here’s the kicker. The stock market has averaged around 8% annually, long, long, long, long history of…
Josh Robb:
Yeah. If you go back to 1926, you’re actually between 10% and 11%, but 8% is a great number.
Austin Wilson:
Exactly. 8% is conservative stock market number. Cause even recently it’s been better than that as well. So say it’s 8% that you can earn in the stock market historically. So based on that math alone, you would be better putting the extra cash toward your investment accounts as you will earn more than your debt is costing you.
Josh Robb:
Is that because eight is bigger number than three?
Austin Wilson:
It is by a matter of 5% Josh.
Josh Robb:
Oh man.
Austin Wilson:
And 5% is 5% compounded.
Josh Robb:
Compounding 30 years.
Austin Wilson:
We love compounding. So that’s just really high level thinking. So let’s put some real numbers on paper and I’m going to say that this is not a perfect example. And we’ll say why as we go through it, but it gets you in the ballpark.
Josh Robb:
The concept gives you the same, what you need to know.
Austin Wilson:
The real numbers could be debatable one way or the other teeny bit at the end. But there was an article for money made that I link in the show notes that had this example. I thought it was good. So suppose you have 30 year fixed 3.043% mortgage.
Josh Robb:
Oh exactly to the thousands of a percent.
Austin Wilson:
Exactly. That’s a real detailed one, on a $450,000 home. So now you’re buying a nice house.
Josh Robb:
Very nice house.
Austin Wilson:
You put 20% down.
Josh Robb:
So that’s $90,000 down.
Austin Wilson:
So then you have $250 per month in your budget. You’re deciding what to do. 250 bucks a month.
Josh Robb:
On top of everything else. An extra 250$.
Austin Wilson:
Extra $250 and your choices are, put it on the mortgage or invest it.
Josh Robb:
So my paper route pays me $250. It’s on top of everything else I’m doing. What am I going to do with it?
Austin Wilson:
You live in a $450,000 home, and you’re a paper boy?
Josh Robb:
And I have a paper route, yes.
Austin Wilson:
Yes, that’s good. So an extra $250 per month in principal payments would save $43,414 over the life of the loan.
Josh Robb:
Hey, there you go.
Austin Wilson:
Sounds like a lot.
Josh Robb:
It’s a lot of money.
Austin Wilson:
And it will shorten your loan term also. I don’t have the calculation for that, but it will shorten your loan term by a couple years.
Josh Robb:
Handful of years.
Austin Wilson:
So that’s one thing to think about. So think, keep in your mind, $43,000.
Josh Robb:
Locked in there, never going to forget it.
Austin Wilson:
Now that extra $250,000 per month invested-
Josh Robb:
Okay so instead of paying it on my mortgage, I’m just going to throw it in the stock market.
Austin Wilson:
We’re going to throw it in the stock market. So we’re going to invest it for the next 30 years now again, it might not be fully 30 years because you’ll save a little bit of time, but say 30 years you’re going to earn, now Vanguard put this number out there 8.29%.
Josh Robb:
Ooh. Can I have another percentage because the mortgage rate was to the thousandth percentile?
Austin Wilson:
I know this is a little bit more high level 8.29%. That $250 per month for 30 years would grow to $111,189.
Josh Robb:
Which I believe is a bigger number than the 43.
Austin Wilson:
It is $67,775 more money having invested the same money for roughly the same amount of time. Roughly now again, this is all with caveats. but I like $68,000 and $68,000 goes and buys me the Corvette I want. So that is the real numbers.
Josh Robb:
That’s it?
Austin Wilson:
That’s it.
Josh Robb:
We’re done.
Austin Wilson:
So the numbers again, second example, the numbers they say, if you are going to earn more with your investment, then you’re paying an interest. It will always say invest. Numbers wise.
[9:20] – Emotions in Investing
Josh Robb:
Yes, numbers wise as long as your potential earnings, is higher than your potential savings on your interest rate, the numbers tell you to invest. You’re right. You can’t do anything. You can’t beat math. Math is just, math is math, but there’s another piece of this. And this is why I said in the beginning, it depends is because we all know working in this industry, that there is more to investing than just the straight numbers. If investing was just about numbers, there would not be a lot of the volatility in the stock market because a lot of that is an emotionally driven volatility. People panic and sell when they shouldn’t. And so same as true here, is emotions factor into this.
Austin Wilson:
Like dancing?
Josh Robb:
Do I get emotional about my house and the value of it? No, it’s the fact that let’s talk retirees because a lot of times, 30 years of a mortgage means you’re probably right around retirement age by the time you’re getting around to pay off that house you’re living in. At that point, owning debt. When I no longer have a job with an income is a little bit more of a burden and stress on my life during my working career. And so debt can feel differently in retirement. And so that may be an example where even though you may save some money by investing that extra paying off so that your debt free heading into retirement is well worth giving up that cost, that cost for the peace of mind is better. So that’s an example. Another example is if you’re not a good saver, let’s just say that you have good intentions, but you tend to grab some of that money you’re supposed to be saving, another way is forcing it because if you’re paying down your mortgage and setting that as part of your payments savings is built into that, reducing your mortgage.
And so you can’t go kind of reach your hand well you could, I guess getting a home equity line of credit or something, but in general, it’s a lot that later harder to do than if you just put it an account where you could try to grab later, So someone who maybe has a harder time being committed to not touching that long savings money is maybe better off paying extra on the mortgage. To reduce a debt, which from a networth standpoint is doing the same thing. Just at a little bit slower rate we talked about from the growth standpoint. So that’s two pieces where maybe paying off your mortgage makes sense.
Austin Wilson:
Yeah I think that it, even when you take, take the numbers side away from it, you have to do what A: keeps you on track. Right? It’s about putting together a financial plan that you can stick with and even if you agree that the numbers work out one way better, if it’s too risky and you can feel a little bit better by moving some of that money into paying the debt down earlier, something you can stick to is better than a plan you’re going to fall off of, that’s a yo yo diet.
[12:08] – Debt Snowball and Avalanche Methods
Josh Robb:
And it’s also like when we talked about debt is there’s paying back debt. There’s something called the snowball method, which is where you start with of the smallest balances and work your way up. The avalanche method, which is another way of paying off debt, you start with the highest interest rates and get rid of those.
Austin Wilson:
The numbers are always going to work out.
Josh Robb:
Numbers always say the average for the avalanche you get better, you save more money, but people are more likely to stick with the snowball method, which is paying off the smallest balance first because you get success and those go away quicker, you see results. So again, numbers, aren’t always the best answer if you know, psychologically, this is a better way to keep me on track. So there we’re at with all that, we’re going to talk a little bit more deeper about it, but that’s high level why one, number wise, why you’d want to do, payments towards the savings and then all your extra money or two, why you’d actually want to pay it towards the house there’s answers to both sides and your financial advisor can help decide which one makes the most sense for you.
Austin Wilson:
Yeah. And it may be totally different than your friend or your sibling or whatever everyone has to make that choice for themselves. And you could have great success either way.
Josh Robb:
And it could be different in different phases of your life. You, you may say, well, okay, well I’m younger. I’m going to put more towards savings. Give that time to grow. But you know, in the last 10 years or so my retirement, I’m just going to knock out all my debt and focus more on that and it may just be a seasonal thing too.
[13:25] – Dad Joke of the Week
Austin Wilson:
So Josh.
Josh Robb:
Yes.
Austin Wilson:
Dad joke of the week.
Josh Robb:
Yes.
Austin Wilson:
You ready? Do people see colors when they dream?
Josh Robb:
Do people see colors when they dream? I’m going to say no, because their eyes are closed.
Austin Wilson:
Or is it just pigments of their imagination?
Josh Robb:
Oh man. Pigments of their imagination.
Austin Wilson:
R/dadjokes y’all.
Josh Robb:
I like it. Favorite. That’s where they’re at.
[13:47] – Pros to Paying Your Mortgage Off Early
Austin Wilson:
Stick it. So I’m going to reference that article from money made that I talked about earlier, they had a good list. Pros and cons to paying your mortgage offer early. So let’s talk about some pros. So number one returns are guaranteed. When you pay your mortgage off early, you know you’re going to get your interest savings, which in our example was 3% or whatever. Like that’s a fixed savings. It’s a fixed return on your invested, we would call it invested money that you know, you’re going to get. So it’s guaranteed. Number two, something you already mentioned, peace of mind, peace of mind is something that by paying your mortgage off early, you just know that that is not something that you have to worry about. It’s not something you have to worry about on your monthly bills.
It’s less market volatility you have to worry about all of these things. You just have some peace of mind. So you may be able to sleep a little bit better. Number three. You’re by paying off your mortgage early, you’re gaining equity that can be accessed in the future. If you need cash and you have your house paid off, you know what kind of home equity loan you can get? A lot like up to the value of your house.
Josh Robb:
It’s pretty nice.
Austin Wilson:
Essentially for very, very, very low cost. So by paying your mortgage off early, you are really giving yourself the ability to…
Josh Robb:
and money doesn’t go away, it’s showing more equity in your home.
Austin Wilson:
And real estate while imperfect, there are flood market fluctuations up and down generally has gone up over time. So you’re paying off a loan on an appreciating asset versus a depreciating asset, like a car. Totally different where we would not be talking the same if this was about a car. Because that is a depreciating asset, which you better get rid of the debt as soon as possible. Homes are another story because….
Josh Robb:
You can get a whole tangent on that, they’re offering car loans for periods that I think are longer than the average person actually owns a car. 72 months.
Austin Wilson:
They’re like 7, 8 years. Yeah that is, yeah I think that is crazy.
Josh Robb:
Now, if there was 0% financing for that timeframe, then you just got to know, you got to pay off that balance. At some point.
Austin Wilson:
All I am saying is that if they offer me a negative interest rate I’ll buy a brand new car. But until that happens, rolling with used cars.
Josh Robb:
There you go.
Austin Wilson:
Okay. So that was number three. Number four, you free up monthly cash flow. This is the big one for people, especially for retirees, but it really matters to everyone. It’d be nice, if you didn’t have to – don’t pay rent because you own your house and you don’t pay a mortgage because you own your house as well. So if you don’t have to pay for that, that is a huge chunk-
Josh Robb:
For a lot of people that’s a big, one of their larger budget items I’m sure.
Austin Wilson:
Absolutely. So that is one option and probably the biggest thing. The benefit you get from paying your mortgage off early.
Josh Robb:
Again, that’s why retirees like it. Because if you knock out that mortgage payment, your monthly cash flow looks a lot different.
[17:26] – Cons to Paying Your Mortgage Off Early
Austin Wilson:
Absolutely yeah. And your monthly requirements is really the key, it’s about, I know that I have this much going out and if that’s lower, then I can work less or do what I need to do. And it’s a little bit easier to put things together. And the last pro that I had on this list was now we put the caveat here. We typically would recommend most people going with a fixed rate mortgage where you have a fixed rate for all the entire length alone. Especially if you got out at a low rate, that’s great. There are people and there are instances where adjustable rate mortgages known as arms can work well, however they’re hit or miss. Often expensive as well. But early in the loan, typically the rates are a lot lower and then they go up as interest rate scope over time if you time it right. That’s how it works. So if you have an arm and the rate is low, now you could save even more by paying extra on your loan now than you would later. So that’s an option.
There are cons. However, to paying the mortgage off early, some of these we’ve kind of already talked about, number one, you have a higher return. Potential not guaranteed, but a higher return potential from investing. But what’s the caveat there?
Josh Robb:
There’s you got to sit through It to get it.
Austin Wilson:
It’s volatility. It’s not going to be a straight, you’re not going to get 8% a year like clockwork. That would be great. Right?
Josh Robb:
It would be awesome.
Austin Wilson:
That’s not the case. Number two compound interest is your friend. So the more money you’re investing, the more time it has to compound. So you’re getting that 8% on that 8% on that 8%, although it’s probably going to look like 12% and 6% minus 8% plus 23%. It’s the way it’s going to go. But you’re going to average that over time and the more time you have to compound the better it is we everyone who I’ve ever talked to who has done well, investing has said, I wish I would’ve started earlier.
Josh Robb:
Yes. That’s always the …
Austin Wilson:
Because the math always says the same thing.
Josh Robb:
Math works. Yep.
[18:56] – Mortgage Interest Deduction
Austin Wilson:
Number three. It’s you have potential for easier access to your money, which can also be a bad thing. Yes. If you want to access your investments often not recommended if they’re especially in retirement accounts, penalties and taxes are not your friend in that case, but investments are usually more liquid than your actual home. Don’t forget about the home equity loan though. That is a different way to access value. That you’re paying off early there. Another one is you lose your mortgage interest deduction when you pay it off. So Josh talk about that a little bit and why that sometimes is hang up for people and maybe it shouldn’t be as much.
Josh Robb:
Yeah. Sometimes people get so caught up on, Hey, I have this deduction I use. If I have a mortgage, maybe I should just keep one. Because if you itemize your deductions on your tax return, one of those spots is you can deduct your interests on your mortgage, on your primary resident. And so people who itemize say, Hey, that’s a deduction. I’m saving some taxes. Yeah. But if you actually look at that tax savings on the interest mm it’s not as awesome as you may think. And with today’s standard deduction being so high, high, fewer, and fewer people are actually filing, an itemized deduction. And on top of that, which is what we’re going to talk about on last bit is there may be ways depending on how you’re saving to get an equal or different deduction on your income that offsets that.
Austin Wilson:
Absolutely.
Josh Robb:
So we’ll get there in a minute.
Austin Wilson:
Another one is employer matching programs. They are your friend when you’re putting that extra money to work through investments. That could be through 401k or 4 0 3 B. So those are kind of the cons of paying off your mortgage early. Really it’s things that, it’s the benefits of putting it in the margin instead.
[20:09] – Can You Do Both?
Josh Robb:
So let’s wrap it up, talking about, okay. Those both sound like good options.
Austin Wilson:
They are.
Josh Robb:
Can I do both?
Austin Wilson:
Sure.
Josh Robb:
Yeah. Moderation. That’s what I love. I love moderation. And so there’s some options in doing that and we would suggest, again, sticking to your plane and talking to your financial advisor, but you may say, you know what I can’t decide be between the two, I have $250. What if I just kind of split between those two? Awesome, great. You’re going to get a little bit of both. You’re not going to get the full impact of either, but you’re going to get both. But here’s an example. So you talked about how interest rates are at really low rates right now. Refinancing. If you haven’t recently, I would check to see what refinancing could do for you, because if you could, even going from four to 3%, a 1% change in your interest on a 30 year mortgage is huge.
And so if you can just adjust that down, you’re going to find two things. You’re going to either see a shortened length of loan or reduced payments, or you can do a combination two, but we’re going to just kind of look at this as pieces. So if, for instance, you say, okay, I had a 30 year mortgage, I’m going to refinance down. I’m going to keep a 30 year mortgage, but I’m going to save $200 a month on my mortgage. All right. Well I have a couple choices. All right, in your scenario, you had an extra $250 to spend on top of that. So now I have $450 of extra money because I just refinanced, well, I could keep my more mortgage payments to save.
Austin Wilson:
Keep paying the same amount, even though it’s not due.
Josh Robb:
So every month I’m doing 200 bucks and now I’m paying $250 to savings. I’m doing both or if you reduce your mortgage payment, you can have more to save. If you really like that piece or you shorten your loan, which is equivalent to paying a little extra every time. So instead of a 30 year, you keep your payments as saying, but make it a 20 year. Well, I just knocked 10 years off. I knocked a lot of interest off of that, doing it that way.
Austin Wilson:
Oh yeah.
Josh Robb:
So there’s a lot you can do by refinancing. So I would encourage you just to check that out. Most of the time, it doesn’t cost anything to find out a refinance. Until you actually go through the process is when you’re going to pay, you just want to talk to bank and say, Hey, what are my options? Hey, find out.
Austin Wilson:
Even then, now rates have come up a little bit since they were last year, but they’re still really, really low.
Josh Robb:
Really close to three.
Austin Wilson:
And you’re going to pay probably, it depends on who your bank is and everything, but you could pay up to a percentage of the loan or a couple thousand dollars to close on. You’re closing on a new loan is what you’re doing.
Josh Robb:
Yeah.
Austin Wilson:
And that if you compare that to the interest savings, if you’re moving the needle at all, Is going to generally work out in your favor so regardless of if you want to invest more, which we would always say yes. If you haven’t a refinance in the last couple years.
Josh Robb:
Just check it out. Please look.
Austin Wilson:
Just look it out. Yeah. Look it up. Call your bank. They’ll be able to tell you wherever you have your mortgage or look it up online.
Josh Robb:
Let’s say you already, let’s say you already refinanced. You said I already did that. I was on top of things, but I still have $250 just split it, say, okay, I’m going to do a little bit here or there. Or you could kind of say, you know what, I’m going to invest for a while. And then once I get to the point where my investment account has accumulated and paying off my mortgage, because I’m paying it down along the way. You can do things like that because chances are that growth is going to be faster than if you just paid it off straight. So could do all those different things. Just the idea is do something with that money. If you let it sit, it’s going to disappear on its own so find a purpose for that extra money. Whether it’s paying off the mortgage, whether it’s paying towards some savings accounts, whether it’s paying down other debt or just saving in general, do it.
Austin Wilson:
Because Josh, what is cash?
Josh Robb:
Cash is dumb.
Austin Wilson:
Cash is trash.
Josh Robb:
Cash is trash.
Austin Wilson:
We don’t want cash. Cash is good to have set aside for emergencies and life cash flows.
Josh Robb:
Emergency funds. That’s all good. Excess cash.
Austin Wilson:
However excess cash is trash. You got to put it to work, paying off debt or you got to go to put it to work investing. It does no good for you sitting there. Wow.
Josh Robb:
That’s good.
Austin Wilson:
That’s good. Josh. I think we answered the question.
Josh Robb:
I like your cash is trash. I like that.
Austin Wilson:
Cash is trash. That’s my thing. All right. So two things. Number one. It’s too late to enter our second half stock draft competition.
Josh Robb:
You’ll still beat me.
Austin Wilson:
Even though you’re into the fourth quarter, you can start with a fresh hundred grand.
Josh Robb:
You can be well ahead of Josh starting now.
Austin Wilson:
You can be like $10,000 ahead of Josh at this point. But yeah, you can enter that all the way through the end of the year, check out our website or our social media and there are details of how to enter there. Number two, as always check our free gift to you. It’s a brief list of eight principles of timeless investing. Overarching investment themes meant to keep you on track, to meet long term goals. Some of these things we talked about are on there specifically when it comes to investing. So check that out. It’s free on our website, Josh, how can people help us grow this podcast?
Josh Robb:
Like always make sure you’re subscribed. That gets you the most recent episode set right to your podcast, playing every Thursday.
Austin Wilson:
Every Thursday.
Josh Robb:
Leave us a review on Apple Podcasts. If you have any thoughts, questions about refinancing questions about which of these two makes most sense. Shoot us an email at hello@theinvesteddads.com. Also if you know somebody who was talking about that or has some extra cash flow and was trying to figure out what to do, share this episode with them, hopefully we’ll help.
Austin Wilson:
All right, well until next Thursday, have a great week.
Josh Robb:
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 guest 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 here in 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.
