Merry Christmas Eve, Eve! If you’re a last-minute holiday shopper, do not fret – Josh and Austin have you covered with this episode! The guys are going over their 2021 Holiday Gift Guide, each sharing three presents you could give to your loved ones this holiday season. Tune in now!
Main Talking Points
[3:10] – Austin’s First Gift Idea: Stocks
[5:33] – Josh’s First Gift Idea: Help Fund a Roth IRA
[7:11] – Austin’s Second Gift Idea: Time
[8:15] – Dad Joke of the Week
[9:21] – Josh’s Second Gift Idea: Memories
[10:47] – Austin’s Third Gift Idea: Cryptocurrency
[11:10] – What is a Wash Sale?
[12:55] – Josh’s Third Gift Idea: Technology to Help You Grow
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. Today, we are going to get past the fact that I sound like Phoebe’s voice when she gets sick and loses her voice and tries to sing on Friends.
Josh Robb:
Yes.
Austin Wilson:
That was for what she called her sexy voice.
Josh Robb:
Yes.
Austin Wilson:
I’m going to try and get past that because I don’t have much of a voice right now. But we are going to be giving you some wonderful gift ideas for this upcoming Christmas season.
Josh Robb:
All right. Now, when I think about that, I think back to, there was a store called Toys R Us-
Austin Wilson:
Was.
Josh Robb:
And they went bankrupt and they’re gone-
Austin Wilson:
And then, they came out and then they went bankrupt and then they-
Josh Robb:
I don’t know, they’re gone.
Austin Wilson:
Yeah.
Josh Robb:
But you used to be able to go and if you’ve ever gone to… There’s also Babies R Us, which is baby clothes and stuff like that, they’re owned by the same parent company-
Austin Wilson:
They’re all in cahoots.
Josh Robb:
Yes. But anyway, if you were going to have a baby, you could go and create a baby registry where you go scan a bunch of things and they build a baby list. Or if you’re doing a wedding, you could do… The cool thing was, Toys R Us allowed kids-
Austin Wilson:
Hopefully not at the same time.
Josh Robb:
No. Toys R Us would allow kids to get the little scan guns-
Austin Wilson:
Oh, register for Christmas.
Josh Robb:
And then, they would walk around and just scan anything they wanted-
Austin Wilson:
Dangerous.
Josh Robb:
They would create a Christmas list. But the cool thing was, after they’re done, the parents then could edit it. You had access, you could then edit it down and actually have a real list. If they’re scanning some like $1,000 in electronics just hitting everything and you’re like, well that’s not going to happen-
Austin Wilson:
See-
Josh Robb:
But that was so much fun.
Austin Wilson:
I feel like Toys R Us, when we were kids, was at its prime.
Josh Robb:
Oh, yeah. Because you got the catalog.
Austin Wilson:
Oh, yeah-
Josh Robb:
Look through the catalog.
Austin Wilson:
And we would go and get Nintendo games. And my mom just sent me a picture, she found all the boxes of the old Nintendo 64 games that she would get. She found all the boxes for these things. She can sell them with the boxes-
Josh Robb:
Oh, funny.
Austin Wilson:
For big bucks. So anyway, we’d go to Toys R Us. I always went… three aisles, it was the Hot Wheels aisle. I wanted it all.
Josh Robb:
Yep.
Austin Wilson:
The G.I. Joe aisle-
Josh Robb:
Oh, that’s the best.
Austin Wilson:
I wanted it all. I still have a trunk of that in my parents’. Oh, I got to go play with that-
Josh Robb:
Good toys. Good toys.
Austin Wilson:
That’s awesome. And then, the video games, obviously, aisle, I wanted all of those. So, I mean, come on. Toys R Us, toys were me.
Josh Robb:
Yes. So, I remember, as a kid, we would go, after church, we would drive, it was a little ways away. We would have lunch. We would then do our Christmas shopping and then, one of the parents would take us kids in the car while the other parent purchased some of that stuff. And then, we’d drive home and you weren’t allowed to look in the trunk-
Austin Wilson:
What did you get?
Josh Robb:
Yeah. So, I just-
Austin Wilson:
Got to wait.
Josh Robb:
Good times. So, we are going to give you some Christmas ideas.
Austin Wilson:
Yes.
Josh Robb:
If you have not completed your Christmas shopping and you need some last minute Christmas ideas, this is it.
Austin Wilson:
Because Invested Dads are us, right here.
Josh Robb:
That’s right.
Austin Wilson:
That really is us.
Josh Robb:
Us.
Austin Wilson:
So, we’re each going to give three ideas.
Josh Robb:
Yes.
Austin Wilson:
Three ideas that we think are some awesome Christmas gift ideas for 2021.
Josh Robb:
Yes.
[3:10] – Austin’s First Gift Idea: Stocks
Austin Wilson:
So, I’m going to start us off.
Josh Robb:
You go first.
Austin Wilson:
My first Christmas gift idea is, number one, stocks.
Josh Robb:
Stocks.
Austin Wilson:
This sounds like a weird gift, right?
Josh Robb:
Not socks, stocks.
Austin Wilson:
Not socks. Socks, everyone gets socks.
Josh Robb:
Yes.
Austin Wilson:
Socks were out and my wife throws away my socks if they get a hole in them.
Josh Robb:
Yeah.
Austin Wilson:
I think I got a couple more years left.
Josh Robb:
Yeah. I mean, until they pull all the way up, then they become leggings and then you’re set.
Austin Wilson:
Until more toes are sticking out than are in.
Josh Robb:
Then they’re leg warmers.
Austin Wilson:
Exactly.
Josh Robb:
Then they’re a whole new brand.
Austin Wilson:
So, I’ll be sitting at home, this is a total tangent.
Josh Robb:
Yeah.
Austin Wilson:
But I just got feet up or whatever and my wife full look at my bottom of my foot, there’s a hole, she’s like, I’m throwing those socks away. So, I got to sneak the ones that I really like around the house.
Josh Robb:
Yeah. Hiding.
Austin Wilson:
I can’t wear them without shoes.
Josh Robb:
Don’t put your feet up.
Austin Wilson:
So anyway, stocks is what I meant here and we’ve talked about what stocks are.
Josh Robb:
Yes.
Austin Wilson:
It’s portions of ownership in companies, it’s really a great thing. But I say, give people stocks this Christmas because stocks are and have proven to be the best hedge against inflation in the world.
Josh Robb:
Yes.
Austin Wilson:
Historically speaking.
Josh Robb:
Now, we shouldn’t worry about that because we’re at historically low inflation rates right now, right?
Austin Wilson:
I think you meant to say historically high in 30 some years.
Josh Robb:
Is that what I meant?
Austin Wilson:
Yeah. We’re sitting here recording this in December and the latest reading came out at 6.8% inflation year over year.
Josh Robb:
Year over year. Wow.
Austin Wilson:
Which is three-
Josh Robb:
Times higher.
Austin Wilson:
To four times higher than what we’ve seen in the last handful of years, anyway. So, there’s multiple ways to do this and Josh knows more about that than I do, of how to gift stocks. But what I’m saying is, gift stocks.
Josh Robb:
Yeah.
Austin Wilson:
Because stocks are a great thing. But they are really the only proven way to maintain and grow your purchasing power over the long run, and the long run is key there. This is not a day trading kind of thing. Some people will say, oh, well, buy gold during inflation. Gold is choppy, gold is not actually that good in an inflation.
Josh Robb:
No.
Austin Wilson:
People who think that do not know the real numbers. So, don’t buy gold, buy stocks. Don’t gift gold, unless it’s jewelry and your wife wants it, that’s fine.
Josh Robb:
Yeah.
Austin Wilson:
Happy wife, happy life. But buy stocks and gift stocks, they are the inflation hedge. Crypto, some people will say that. I think crypto is awesome and some of the technology that it uses. It’s surely becoming more mainstream.
Josh Robb:
Yep.
Austin Wilson:
But to be an inflation hedge, we don’t really know yet, it’s relatively new. So, give the gift of well run, profitable, diversified, companies to your loved ones, they will thank you over the long run.
[5:33] – Josh’s First Gift Idea: Help Fund a Roth IRA
Josh Robb:
Yep. And my first gift idea goes along with this but it’s a little more broad it’s, help fund a Roth IRA. Now, there’s some caveats to that but in general though, that’s one of the best savings vehicles, long-term retirement savings that you can do because the money goes in after tax but it grows tax free-
Austin Wilson:
It’s beautiful.
Josh Robb:
And is distributed tax free. So, it is a great investment vehicle. And now, the caveats, the person that has the Roth IRA, they have to have earned income to make contributions. But the cool thing is, as long as they have their earned income, really doesn’t matter where that money comes from to go into the account. So, let’s say, if somebody makes $10,000 in the year, you could fund their Roth IRA, put the full amount in, from your money, for them, into their account. Now, the IRA’s got to be in their name, it’s an individual retirement account, that’s what IRA stands for. But the cool thing is, that could be a way of rewarding them for working hard and helping teach them what this compounded savings will do. Future them will thank you.
Austin Wilson:
Future them will thank you. If you think about, I always think about multiplying my money when I’m thinking-
Josh Robb:
Yes.
Austin Wilson:
So, $1,000 today, at a very high level, in 30 years, if you don’t touch it, at a roughly average pace of stock market growth, is going to be $10,000. You 10X’d your money in 30 years-
Josh Robb:
With no additions-
Austin Wilson:
If you don’t touch it.
Josh Robb:
Yep.
Austin Wilson:
So, the more money you can put away today.
Josh Robb:
Yep.
Austin Wilson:
If you don’t touch it for 30 years, it’s going to be 10X’d.
Josh Robb:
Yep. I say, compounding is the gift that keeps on giving.
Austin Wilson:
Oh, Josh.
Josh Robb:
Look at that.
Austin Wilson:
Look at that. That wasn’t even planned.
Josh Robb:
I just thought of it.
[7:11] – Austin’s Second Gift Idea: Time
Austin Wilson:
Just thought of it. So, that is a good one, Josh. My second idea, Christmas idea from Austin number two is, time. Give the gift of time!
Josh Robb:
A watch. Yeah. Nice.
Austin Wilson:
Apple Watch.
Josh Robb:
Yes.
Austin Wilson:
That’s actually not my gift idea, however, I’ve become an Apple Watch-
Josh Robb:
You like watches.
Austin Wilson:
Connoisseur over the-
Josh Robb:
Yes, connoisseur.
Austin Wilson:
Last handful of years. Had a couple of them. It is the luxury piece that you don’t need but you got to have once you have.
Josh Robb:
That’s nice, it’s pretty great.
Austin Wilson:
So anyway, that’s not what I’m talking about.
Josh Robb:
You’re talking about actual time.
Austin Wilson:
Actual time. So, give the gift of time. I’ve always said, and I really truly believe, that time is worth more than money.
Josh Robb:
Yes.
Austin Wilson:
So, give someone you love the gift of time by watching their kids for a day or do something that takes them a lot of time, that’s really time consuming. Do something for them, so they don’t have to do it and they can go do something they want to do. And as a bonus, you’re going to spend less on wrapping paper.
Josh Robb:
Oh, yeah.
Austin Wilson:
So, I mean, who loses there?
Josh Robb:
Yeah.
Austin Wilson:
And you get a good workout in.
Josh Robb:
Sure.
Austin Wilson:
Because chasing kids-
Josh Robb:
After a few babies-
Austin Wilson:
Or raking leaves-
Josh Robb:
You’re babysitting someone’s kids.
Austin Wilson:
You’re wearing yourself out.
Josh Robb:
It’s energy.
Austin Wilson:
So, give someone the gift of time today or this winter.
[8:15] – Dad Joke of the Week
Josh Robb:
Yes. So, speaking of that-
Austin Wilson:
Speaking about that.
Josh Robb:
Real quick. So, my wife was questioning me the other day because on our printer at home, there was a bunch of pictures of Dr. Dre and Snoop Dogg and Eminem and I said, what are you doing? That’s just my wrapping paper. Just my wrapping paper.
Austin Wilson:
That is a good one.
Josh Robb:
Yeah.
Austin Wilson:
So, that’s your dad joke-
Josh Robb:
That’s my dad joke of week.
Austin Wilson:
It’s classic.
Josh Robb:
It’s my Christmas dad joke.
Austin Wilson:
Christmas dad joke of Snoop Dogg and Dr. Dre. Josh wouldn’t even know who those are, Steph would.
Josh Robb:
They’re rappers. I know, I Googled it.
Austin Wilson:
You had to Google it. There was one that, Will, our colleague, had brought up. I still couldn’t remember his name to this day. Apparently he’s the most famous current rapper.
Josh Robb:
I don’t know.
Austin Wilson:
And I have no idea who he is. I’ve never even heard of him and could not name one song, so bad.
Josh Robb:
Is it Will-i-am? No, it’s Josh you are. Flo-rida.
Austin Wilson:
These are so old.
Josh Robb:
Oh, those are not new people?
Austin Wilson:
No.
Josh Robb:
Oh, okay.
Austin Wilson:
Josh, you’re way behind. But speaking of being way behind, you’re behind-
Josh Robb:
MC Hammer. I’m going the wrong direction.
Austin Wilson:
Vanilla Ice. Speaking of being way behind, you’re behind me in Christmas ideas.
Josh Robb:
Yes. You want another one?
[9:21] – Josh’s Second Gift Idea: Memories
Austin Wilson:
So, give me your number two.
Josh Robb:
Yeah. When you mention time, I thought, you know what? That’s true. And the one I have is memories. Because sometimes you just don’t have a lot of money for Christmas and buying stuff.
Austin Wilson:
Right.
Josh Robb:
And it’s fine because memories last longer than those physical things, anyways. And so, sometimes just doing a special tradition or even starting a new tradition will have a long lasting impact and it doesn’t have to cost a lot of money to do that.
Austin Wilson:
True.
Josh Robb:
And you think about some of the cool traditions, maybe, you had growing up around the Christmas time, that starting and creating those memories is huge and it comes back to your time. It’s just that, they’ll remember that. I think back to when I was a kid and some of those things we would do consistently year after year and how I’d look forward to them and now, as a grown up, thinking back on those things. So, memories, making memories, building memories, it’s huge.
Austin Wilson:
Homemade cinnamon rolls on Christmas morning.
Josh Robb:
There you go.
Austin Wilson:
That was our thing.
Josh Robb:
That was it?
Austin Wilson:
It’s the bomb.
Josh Robb:
Yeah. Yeah. And we started with our kids, popcorn. We go to Shirley’s, which is a popcorn place here in our area then we go drive around look at lights. In the car, then you just have a little thing of popcorn, eating it, little drink, in their Christmas jammies, driving around, looking at lights. And just fun little things like that, that they look forward to, doesn’t cost much but good memories are there.
Austin Wilson:
Could you adopt me? That sounds so fun.
Josh Robb:
It’s so much fun.
Austin Wilson:
That sounds so awesome.
Josh Robb:
Each have their own little bag of popcorn and drink and-
Austin Wilson:
I would have a tin.
Josh Robb:
Oh, yeah. I mean, it’s good food.
[10:47] – Austin’s Third Gift Idea: Cryptocurrency
Austin Wilson:
My Christmas idea number three, Josh, this is timely, cryptocurrency. Give the gift of cryptocurrency because, specifically, doing it in 2021-
Josh Robb:
We got to do it now.
Austin Wilson:
You got to do it now, because even if it tanks, you can harvest losses and then re-buy without worrying about wash-sale rules.
Josh Robb:
Oh, good. There you go.
Austin Wilson:
Because the upcoming tax legislation is going to eliminate that loophole.
[11:10] – What is a Wash Sale?
Josh Robb:
So, right now, a wash-sale, just as a high level, is if you sell something for a loss and you are planning on capturing that loss for taxes, in other words, offsetting other income or gains, you cannot repurchase the same or like security, similar security, within 30 days.
Austin Wilson:
That applies to securities.
Josh Robb:
Stocks, mutual funds, all those things.
Austin Wilson:
Yes.
Josh Robb:
So, you’re telling me, as of right now-
Austin Wilson:
Does not account for cryptocurrencies.
Josh Robb:
Cryptocurrencies do not qualify because they’re not considered a security, you could sell your Bitcoin at a loss and then buy it-
Austin Wilson:
Buy it right back.
Josh Robb:
Right back when it recovered or before it recovers-
Austin Wilson:
You can buy it right back to a minute later.
Josh Robb:
Wow.
Austin Wilson:
So, that loophole is surely to be closed eventually and it’s actually been written into the upcoming legislation that’s still being debated. But that’s, kind of, my idea, is a timing gift.
Josh Robb:
There you go.
Austin Wilson:
It’s a gift of timing. But I fully admit that, I have no idea where specific cryptocurrencies are headed. But all I know is, adoption is growing rapidly, demand is much higher than it has been in the past. Although, I have to note, this is a speculative investment with risk.
Josh Robb:
Yes.
Austin Wilson:
And not, whatsoever, a recommendation to go buy any specific cryptocurrency or any at all. However-
Josh Robb:
However.
Austin Wilson:
I’m not going to say this is not a recommendation but I’m going to give my recommendation that, if you are going to do that.
Josh Robb:
Yes.
Austin Wilson:
I would say, some of your larger, more established, cryptocurrencies are going to be comparatively less volatile.
Josh Robb:
So, don’t go on the joke Bitcoins.
Austin Wilson:
Sheba.
Josh Robb:
That are-
Austin Wilson:
Doge. Don’t buy a coin named after a dog.
Josh Robb:
Oh, unless it’s your dog.
Austin Wilson:
Unless it’s your dog.
Josh Robb:
Okay.
Austin Wilson:
Sampson coin. But I’m thinking Bitcoin, Ethereum, those are the two main ones that maybe have less of that maybe have less build up. So anyway, that’s my idea.
Josh Robb:
Not a recommendation.
Austin Wilson:
It’s not a recommendation but if I was going to give one, that would be what I would say, tip your toe in with.
[12:55] – Josh’s Third Gift Idea: Technology to Help You Grow
Josh Robb:
Okay. And my number three is, and this is an actual physical gift.
Austin Wilson:
Ooh.
Josh Robb:
Get a good set of headphones or speakers to continue to listen to The Invested Dads Podcast.
Austin Wilson:
We sound better in surround sound.
Josh Robb:
It is. But along with that though, there’s so many ways, nowadays, to continue to learn and grow using free resources that, I mean, it just a no brainer, right? I mean, it’s so cool the technology available today that allows you to continue to expand your knowledge and your ability to learn and experience new things. So, I challenge you to get a little bit outside your comfort zones next year and a good gift idea is, find some technology to help you do that. I have an app on my phone that allows me to download books for free from the library, digital books or audio books and it’s awesome.
Austin Wilson:
They have that on the Android app store?
Josh Robb:
Yeah. It’s crazy.
Austin Wilson:
It’s one of the four apps that they have.
Josh Robb:
Yeah. It’s awesome.
Austin Wilson:
That’s awesome.
Josh Robb:
It’s the only app, it’s just a big button you push.
Austin Wilson:
It’s pre-installed on your phone when you get it.
Josh Robb:
But I’ll tell you, that is the one physical gift I have is, get technology to help you grow and challenge yourself.
Austin Wilson:
I forgot to mention.
Josh Robb:
Yes.
Austin Wilson:
You know what will last longer than memories?
Josh Robb:
What’s that?
Austin Wilson:
Stocks.
Josh Robb:
Stocks will last longer that memories?
Austin Wilson:
Yeah. Probably.
Josh Robb:
Well, if you remember you own stocks, which one’s longer? I don’t know.
Austin Wilson:
It doesn’t matter, you still own it, whether you remember it or not.
Josh Robb:
That’s true. Buy stocks.
Austin Wilson:
Buy stocks all the time, is what I say. So anyway, as always, check out our free gift to you, it’s a brief list of eight principles of timeless investing. Overarching Investment team’s meant to keep you on track to meet your long-term goals.
Josh Robb:
And there’s a free gift you can get.
Austin Wilson:
That is a free gift.
Josh Robb:
You could download it.
Austin Wilson:
You could get it yourself and you can re-gift it without feeling bad. Doesn’t even need wrapped.
Josh Robb:
Yes.
Austin Wilson:
Unless you print it out really fancy, you can do that.
Josh Robb:
Bind it.
Austin Wilson:
So, check it out, it’s free on our website. Josh, how can people help us grow this podcast and continue to help lots of people?
Josh Robb:
Yep. Make sure you subscribe, that way every Thursday you get our podcast, leave a review on Apple Podcast for us and if you have any great Christmas ideas or have any new topics you want us to tackle this next year, shoot us an email at hello@theinvesteddads.com.
Austin Wilson:
Well, until next week, you have a great week and have Merry Christmas.
Josh Robb:
Merry Christmas.
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 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.
