151: Listener Questions #2

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. I’m Austin Wilson, Research Analyst at Hixon Zuercher Capital Management.

Josh Robb:

And I’m Josh Robb, Director of Wealth Management at Hixon Zuercher Capital Management. Austin, how can people help us grow our podcast?

Austin Wilson:

Well, we would, first of all, love it if you would subscribe. If you’re not subscribed, you get every episode every Thursday. We would also love it if you’d visit our website, and sign up for our weekly newsletter, which gives you a little bit of a synopsis of the episode that’s coming out that week, every Thursday, as well as a link to listen to it directly. So, that’s what we would love. But today, Josh-

Josh Robb:

Yes.

Austin Wilson:

We are going to be following up and continuing our series with listener questions. We’ve had some listeners ask some questions, and we would love to answer them. And, as a reminder, we would always love to answer your questions. So, if you have any questions, you might be featured on an episode. So, send us an email to hello@theinvesteddads.com, or get ahold of us on our social media. We would love to be able to include your questions in one of these upcoming episodes. But we’ve got 11 questions, Josh, to get through today, and I think we’re going to have a good discussion about some of them, because I know what they are and you don’t.

Josh Robb:

You could tell I was not involved. 11 is just a horrible number.

Austin Wilson:

That’s a random…

Josh Robb:

I don’t know, what are you doing?

Austin Wilson:

It’s not an even number.

Josh Robb:

10, 12.

Austin Wilson:

It’s nothing.

Josh Robb:

Oh, man.

 

[1:40] – What Should I Invest In?

 Austin Wilson:

So, today we’re going to be answering our listeners questions, and let’s jump right into question number one. This is really open-ended, and I think we’re going to have some different opinions on it. What should I invest in?

Josh Robb:

Pause. Do your disclosure.

Austin Wilson:

Okay. Nothing we talk about in this episode is a recommendation because we don’t know your financial situation. But, hey, if you have any questions about your financial situation, you could give us a call, or shoot us an email. There is an “Invest with Us” tab on our website where we could talk to you, if you have any specific questions. So, with that out of the way, nothing is a recommendation, but, Josh, what would you say if I were to say, “What should I invest in?”, and, I’m not talking about me, just a general person.

Josh Robb:

What should I invest in? The high-level answer, without actually saying what you should invest in is, you should invest in as much as you need to reach your goals. And, historically, the best thing to do that is equities, so, stocks of some sort, and then no more than that, because you don’t need to take excess risk than you need. So, what should you invest in? You should invest in equities to the point that it helps you obtain your goals or give you a highest probability. It’s a very vague none answer.

Austin Wilson:

No, I’m good with it.

Josh Robb:

But, high level, what should you be investing in? Things you’re comfortable with. When it comes down to it, you need to understand it, be comfortable with the risk reward. So, that’s what you should invest in. Do not invest in something that you’re uncomfortable or unsure of exactly what it is.

Austin Wilson:

I would also tag onto there that, the more you know about investing, the more you will be comfortable with, generally, equities, is what I’m saying, over longer terms, if you really understand the history of things like that. I would give a similar answer, but I would elaborate a little bit more, and I would say, generally speaking, again, not knowing anyone’s financial situation, a diversified basket of stocks. So, diversification is key. You don’t want to own all tech stocks. Actually, that would’ve roasted you this year.

Josh Robb:

That would’ve been bad.

Austin Wilson:

But, also, you would’ve done really good this year if you held all energy stocks, but that’s not the way it’s going to be all of the time. So, a diversified basket of stocks, and that can be done a number of ways, whether that be through an index fund, whether that be through an ETF, whether that be through… Which we’re going to talk about that one a little bit more, surprise, later. Individual stocks within different sectors, those are different ways to do that, again, to the point where you can tolerate the risk level of that. So, I would agree. Next question.

Josh Robb:

Yes.

Austin Wilson:

When should I buy stocks?

Josh Robb:

When you have cash.

 

[4:03] – When Should I Sell Stocks?

 Austin Wilson:

And then, the follow up question is, when should I sell stocks?

Josh Robb:

When you need cash.

Austin Wilson:

Wow, that’s a Nick Murrayism, isn’t it?

Josh Robb:

Yes. You buy stocks for long term growth to beat inflation. You buy it when you need to increase your growth potential, and you sell it when you need cash for living expenses or needs. But, the high level is “When should you buy stocks?” When they’re priced at a point where you’re comfortable paying for what you’re getting. And so, in our industry, there’s a lot of metrics. There’s price to earnings ratio, there’s price to cash flow, price to sales, all different metrics to say, “How much am I paying the price, for what I’m getting?” Whether it’s earnings or cash flow or whatever you want to look at. And so, “When should you buy stocks?” When that value is there for you. Some people have different metrics. They may say, “You know what, I want to see X amount of earnings, I want to see whatever it is”. So, the answer to, “When do I buy stocks?”, is when you are getting value for what you’re paying.

It’s like anything. When do I buy shoes? Well, when I need them, probably. But, what do I pay for them is what I’m comfortable. I’m not going to walk into the store, and pay too much for those shoes. Same idea. When do you buy stocks? When you are comfortable with the price.

Austin Wilson:

I want to simplify that. I want to say, “When should you buy stocks?”, and I would say anytime you don’t need the money from your stock account. And, that’s going to be using a strategy that we refer to as dollar-cost averaging, because I do not believe that most people should be dealing with valuations. Most people should just say, “Hey, I’m in it for the long term, and I know that this is going to be worth more in the future, many years down the road. 10, 20, 30 years, I know it’s going to be worth more because it always has been worth more. I’m going to just put money in every single month, and not worry about trying to time it.” So, that’s what I would say. Dollar-cost average. Periodically invest, is what I would say.

And yes, “When should you sell?” When you need it. Ideally, don’t sell.

Josh Robb:

Never.

Austin Wilson:

In terms… Yeah, never. Our favorite holding period is forever. That’s a Warren Buffet quote. But, I would say yeah, don’t sell until you, hopefully, retire. Obviously, rebalancing and stuff, and changing of what you’re buying, is one thing, or changing of what you’re holding. But, in terms of selling, selling? Selling when you need cash, in retirement, is kind of the goal there. All right, here’s a tricky one and we prefer to this a couple times in a couple different episodes. Should I invest in Bitcoin?

Josh Robb:

Oh, that’s a good question.

Austin Wilson:

Again, not a recommendation, anything we’re talking about here.

Josh Robb:

Yes, and we have a whole episode where we talk about that. Yes. Bitcoin, being a cryptocurrency, being outside the regulation of the SEC, it’s not actually an investment, right now.

Austin Wilson:

Correct.

Josh Robb:

So, can you? Should you? That’s a good question, and, as an advisor, it’s outside of my expertise. That being said, you should buy or invest in Bitcoin if you can tolerate that volatility. Because, again, being a new class of asset, if you want to call it that, it has a lot of volatility and that’s putting it lightly. Yes, you have to be comfortable with something that is volatile, trades constantly, even while you sleep. There’s no open close to that market. It has potential for issues. You see hacking of accounts, there’s a lot of stuff that goes on. So, should you invest in it? I don’t know. But you need to be aware of it, before you do, what you’re getting into.

Austin Wilson:

That’s what I would say. You should not put any money in it if you don’t understand it, for one. Number two, I would say that if you understand it, and understand the technology behind it, and you choose to take some exposure in it, which, to me is somewhere between speculation and investment. It’s not necessarily a for-sure investment, because there’s, obviously, nothing backing it up, and nothing saying that it’s going up in the future. Even though a lot of people who are bullish about it think so, there really isn’t. It’s not widely used, and not regulated. So, that would be one aspect, that you should only take on what exposure you can handle the risk for. And, if you think equities are risky, and you’re toning down your overall exposure to equities because you know can’t handle the volatility, well, you probably should just avoid crypto, in general. Bitcoin’s the most stable, probably, of cryptocurrencies because it’s the oldest.

Josh Robb:

Well, wait, didn’t they have one called Stable Coin?

Austin Wilson:

Yeah, that wasn’t even… They’ve had multiple Stable Coins that just haven’t really been so stable. So, I would say, with caution, take some exposure if you understand the space to a very small percent of your overall asset allocation.

Josh Robb:

All right. Let me ask you one now.

Austin Wilson:

Go for it.

 

[8:27] – What is a Mutual Fund?

 Josh Robb:

I’ll pull a question for you. Austin, what is a mutual fund? And, that’s a good question for our research analyst here.

Austin Wilson:

Yeah, and I’m even going to start by saying that, we do have a dedicated episode explaining the differences between ETFs and mutual funds, and we’re going to plug that into the show notes. But, at a very high level, a mutual fund is a pooled investment vehicle. So, if a million of us want to invest in swimming pools…

Josh Robb:

Invest in swimming pools.

Austin Wilson:

So, pretty much we’re saying we want to hire a manager to manage it, large cap US stocks, and they’re going to invest however they choose to invest. But, we all give them our money, they hold our money, and invest in stocks as they see fit, which, we would hopefully all agree with the way they’re doing it. So, therefore, we are in a pool of money invested into that portfolio of stocks, and we, as that portfolio of stocks goes up and down in value, our asset value, and our share of that pie, goes up and down with it, known as the net asset value, once we take out some of the costs, and fees associated with it, and stuff like that. So, we are investors in a pool there. It’s similar to an ETF. An ETF is also a pooled investment vehicle. It’s not even what the question is, but I’m going to go off on that tangent.

Josh Robb:

I would love to know.

Austin Wilson:

Those are traded in real time, on the stock market, and that is different than a mutual fund, which is only traded once per day, after the market closes at NAV. So, very different, but, good question. They are very helpful, and useful in ways that investors can get diversified portfolios managed by professionals, or tracking indexes, whatever that may be, and not have to do it themselves.

Josh Robb:

That follows up with, “Well, should you invest in individual stocks or mutual funds or ETFs? What’s the best thing to invest in?”

Austin Wilson:

Well, I would say it depends.

Josh Robb:

That’s a good answer.

Austin Wilson:

In moderation, maybe. I don’t know, that sounds like Josh Robb, broken record, here. But, both have their good uses, right? So, individual stocks, a lot of people that’s very attractive to. They can either hire someone to do that for them where they’re the other person, the manager is selecting the stocks, and doing the portfolio for them, or they can do it themselves. But, that is very visible. So, you can literally look at your account, and say I’m holding these 10 stocks, and I see how many shares, and what it’s worth, and all of that at one glance. Now, if I hold a mutual fund or an ETF, you are hiring someone who is managing that mutual fund or an ETF to hold that basket of stocks for you. Or, it could be bonds, I guess, for that matter. But, it just depends on what level of work you want to put into it, because if you are not hiring someone to do the actual managing of the individual stocks and you’re doing it yourself, that requires a lot of work. You want to build a diversified portfolio with well-run, durable companies, that are fundamentally sound and growing, and doing well.

I do that. That’s what I look into, and it’s a lot of work to understand which companies are going to be the ones to do well over time. If you have the time, and it’s something you’re passionate about, or that excites you, that could be a really fun little outlet for you. If not, I would use a mutual fund or an ETF.

 

[11:39] – Should I Invest with a Small Account?

 Josh Robb:

And that follows up with, “What should you do if you have a small account? Is it even worth investing in the stock market?” Now, I think that follows up to what you said, as when you’re working with smaller dollars, those mutual funds and ETFs give you more exposure, broadly, with limited funds. Because, to buy a bunch of individual holdings, whether they’re stocks or bonds, or whatever, you need for each individual one, you’ve got to buy shares.

Austin Wilson:

Yes.

Josh Robb:

And so, to get a broad diversified portfolio, is it worth it to invest a small account? Yeah. If your goals are for growth long term,, and you have the idea of liquidity and “Can I wait if the market’s down? Do I need this money in the short term?” If you answer all those questions, the account size isn’t as relevant, because you can buy partial shares, but you could use mutual funds or ETFs to get to a more diversified portfolio.

Austin Wilson:

If you just want to be a person who sticks to a plan, and puts money into the market, it is very easy to use a mutual fund, specifically because of the way they’re traded, and just always, every month put in 100 dollars. 100 dollars. And, you’re getting diversification, automatically, from that. So, with small accounts, a really easy way to get that diversification is what I would say. So, Josh?

 

[12:50] – Dad Joke of the Week

 Josh Robb:

Yes, bring it.

Austin Wilson:

I know you’ve got a Dad Joke of the Week for me.

Josh Robb:

I have a dad joke. I have a dad joke. First, caveat, do you know what ODOT is?

Austin Wilson:

Ohio Department of Transportation?

Josh Robb:

That’s correct. So, Ohio Department. So, one of my neighbors works there…

Austin Wilson:

Like Dippin’ Dots?

Josh Robb:

Yes, kind of. But, one of my neighbors works there, and I think he’s stealing from the company.

Austin Wilson:

Oh no.

Josh Robb:

Yeah, I wasn’t sure, but when I got home the other day, all the signs were there.

Austin Wilson:

Oh, the signs were there. I like it. So, speaking of ODOT, and signs, we’re nearing the end of construction season in Ohio, as we’re recording this. So, that is kind of where we’ve had every single street in Findlay torn up, all summer long.

Josh Robb:

Oh yeah.

Austin Wilson:

And, summer’s winding down.

Josh Robb:

Consecutive streets. Like, don’t close the street next to it if you’re diverting traffic.

Austin Wilson:

I tried to come to work, and there were three different streets, within a block. I couldn’t turn right, because there was construction. So, I went down and turned down an alley, and then I couldn’t get onto the other road, because there was construction, so, I had to go the wrong way down an alley.

Josh Robb:

Oh boy.

Austin Wilson:

Oh, I was illegal. And now, we’re kind of winding that down, but if you live in Findlay, Ohio, this may mean something to you. The Lima Street. Not Lima Avenue. So, the Lima Street, by the cleaners there, it is very smooth. Perfectly done.

Josh Robb:

They tore it all up, and did the whole thing.

Austin Wilson:

Tore it up and redid it, and I’m very thankful for that. So, kudos, ODOT.

Josh Robb:

There you go.

Austin Wilson:

Or, whoever was doing that.

Josh Robb:

When they’re done, they’re great roads, I’ll tell you what.

Austin Wilson:

But, in the meantime, I feel like, if you go through Toledo, going to the airport in Detroit, or whatever, 75 is always under construction.

Josh Robb:

Oh, they’ve been working on that for three decades.

Austin Wilson:

Oh, man. It is unbelievable. So, anyway, I’m off my soapbox. We’ve got. Five more questions to get through in this episode.

Josh Robb:

To get stinking 11.

Austin Wilson:

To get to stinking 11, because we couldn’t just keep it. I couldn’t have just kept one.

Josh Robb:

That’s true.

 

[14:35] – What Should My Family Do Financially if Something Happens to Me?

 Austin Wilson:

To the next one. Here are some questions that I think are going to make us think. So, if something were to happen to you, how would your family be able to weather the storm financially?

Josh Robb:

Great question.

Austin Wilson:

That is a great question.

Josh Robb:

So, we did an episode on life insurance.

Austin Wilson:

We did. Yeah.

Josh Robb:

Yeah. If something were to happen to you, meaning death, how would your family be able to cope with that? That’s where life insurance comes in. Life insurance is there to provide a lump sum to help offset that loss of income, is what it’s primarily there for, or to help you pay down debts, those type of things. If something bad were to happen in the event of a death, life insurance is your primary vehicle to help weather that storm. If it’s disability, that’s where disability insurance comes in. There’s short term and long term. Insurance is the key to all those answers, and that’s what insurance is for. You’re insuring against an outcome that is low probability, but would be detrimental if it did happen. And so, that’s the big piece, to make sure that you are adequately covered for those possibilities. It’s not fun to pay your insurance every month or year, but it’s there just in case. The hope would be that you go your whole life, and just never use it, and that you didn’t waste any of that money. It was there for protection, but it’s a good thing.

Austin Wilson:

You bought peace of mind.

Josh Robb:

Yes. Going beyond that, your family needs to… One, somebody else needs to know the overall picture, and where everything is. That would make things helpful.

Austin Wilson:

You’re creeping into my next question, but…

Josh Robb:

If there’s a disability, who pays the bills? What bills need paid? What’s our auto pay? Just having those open conversations with someone, that would be helpful, and the big one is, having someone who’s a professional along with you, to help you through that, is huge. And so, making sure you’ve at least had a conversation on who they could go to talk to, if something were to happen.

Austin Wilson:

That leads right into the follow up question, which was, “Would your loved ones know what to do if you suddenly pass?” That is a great question. Hopefully, if you are working with a professional, they know what to do, and, hopefully, your loved one, maybe that’s your spouse, or whatever, could just go see them, and they know exactly what to do with your accountant, or your financial advisor, whatever that is. They have access to everything. Also, and this is kind of making me think, personally, is your spouse should probably have some idea of your finances in general. I know that, in my family, I handle all of that, and I have everything set up exactly the way I want it, and my wife knows what she cares about.

If something were to happen, everything’s on auto pay, so it would get paid. However, knowing where everything is…

Josh Robb:

Would that card still be active, is the question.

Austin Wilson:

Yeah, yeah. Knowing where everything is, is a different question. So, probably good to make sure your spouse and you are on the same page of where your money is, how to get to it, who to talk to, all your bills. Probably just a good idea to have that understanding, even if you’re working with a professional, that’s a very high-level thing to know.

Josh Robb:

Good.

 

[17:22] – How Long Until My Account Recovers Value?

 Austin Wilson:

Next question. These are a couple questions focusing on the current market turmoil we are experiencing, here in 2022. So, Josh, broad question, and there’s a couple ways we can look at this. How long until my account recovers value?

Josh Robb:

Good question. Depending on how you’re invested, that would answer that question.

Austin Wilson:

Yeah, exactly.

Josh Robb:

The bond market’s down what, 8%?

Austin Wilson:

10.

Josh Robb:

Yeah. And then, the stock market is down more than that.

Austin Wilson:

Almost 20, yeah.

Josh Robb:

And so, depending on your allocation, it would determine how long it would take to recover. But, really, until the uncertainty goes away, and, again, when we talk about markets, they do not like uncertainty, and that’s where that downside volatility comes in, is when there’s some uncertainty that’s, kind of, pushed into the market. When we see less uncertainty, and more positive news on growth, that’s where you’ll see the adjustment. But, how long? I don’t know.

Austin Wilson:

Yeah, I would say that the key things that are going to be needed for a sustained, specifically stock market rally, but also, bonds, for that matter, are inflation to come down, and it is, slowly, coming down, and the Federal Reserve to at least give indication that they’re not going to be going as bananas with interest rate increases, because, as we know, their interest rate increases are a result of inflation. So, they’re reacting to inflation, try and slow the economy down, to spring down inflation. So, really if inflation comes down, the feds going to back off. The feds backing off makes interest rates go down, which is good for stocks and bonds, alike.

Josh Robb:

Right.

Austin Wilson:

Bond prices would go up, stock valuations would be then able to go up, that’s kind of what I’m looking for. To put a timeline on any of this is very difficult.

Josh Robb:

How long does the average bare market last?

Austin Wilson:

Well, it depends on which time period you’re looking at, for one. But, generally speaking, you can think that, on average, they are often two and a half years on average.

Josh Robb:

Okay, that’s the average. And then, you see shorter, longer because that’s the average.

Austin Wilson:

Exactly.

 

[19:19] – How Do I Make Sure I Don’t Lose More Money While Investing?

 Josh Robb:

So, that’s just something to keep in mind. Now, along with that, what should you do to make sure you don’t lose any more money?

Austin Wilson:

Well, I would say, number one, don’t sell now, if you don’t have to, because then you would be taking what our paper loss is. You’re looking at your account statement, you see it’s down in value, that’s called a paper loss. You would be turning paper losses into permanent losses, because you would be then, permanently locking in that cash value of that loss, and, therefore, taking a real loss. So, that would mean that your purchasing power is, you’re sitting in cash, there’s no chance to recover, where, if you’re in stocks or bonds, you have a chance to recover, and, if you’re well-diversified, in solid companies and solid bonds, you’re going to get back whole one day. So, that’s what I would say is, don’t force sell right now. It’s not really a good time to be doing that, unless it’s part of your plan, and you needed cash anyway, that’s a different situation. I would not say it’s the time to be getting more aggressive, because things could change, and even get a little worse. Who knows. This is, kind of, an opportunity to stick to the plan. There isn’t a guarantee that it won’t go down a little bit more. We can’t guarantee that, we never could. But, I would say this is just an opportunity to stick to the plan.

Josh Robb:

The question of, don’t lose any more money. A lot of times, they look at that from the account statement standpoint, and, well, we’ve had in conversation is, even if you went to cash, and your account statement stabilized, meaning month to month it’s staying the same, or getting maybe a little interest in there, the loss is still there when it comes to purchasing power, because, like you talked about, inflation. So, when you talk about actually losing more money, that’s the hard part. Depending on what your decisions are, you really are just changing the type of loss that you’re experiencing, at this point in time, until the market starts turning around, recovering, and/or inflation gets lower. If you can earn interest that’s above inflation, then you’re growing, but, at this point, inflation’s 8.3%, and, CDs and savings accounts are not 8.3%.

Austin Wilson:

Correct.

Josh Robb:

So, that’s kind of where, even if you’re in a stable investment where your statement isn’t moving, you are still losing money, in a sense of what you could buy with that money.

Austin Wilson:

Yeah. The question you must ask yourself is, “What is the timeframe I need this money?”, and, if that timeframe is further out than you anticipate the market to recover, you’re going to be fine. You’re going to be back to where you were, and beyond. So, if you were to say, “Hey, Austin, in five years, am I better holding cash right now, or am I better holding stocks and bonds?” But, again, not a recommendation. Past performance is not a guarantee of future results, but, stocks and bonds are a lot more attractive than cash, right now, because they, at least, have the chance to get back to where they were, and maybe beyond from here, and, cash is only going to be eaten away at, right now. 8% inflation. So, that’s, kind of, what I would say. So, that question leads right to the follow up, which I, kind of, hit on a little bit. Is there anything you can do to make up for those losses we incurred?

Josh Robb:

Yeah, again, we’ve always caveated. When we talk about don’t sell, don’t panic, hold onto your investments. That’s true. When it comes to managing your investments, making adjustments along the way is not panic selling. So, if, anything, what you could do now is take a review of your current investments. If you’re working with advisor, talk with them, but say, “How am I positioned for where it’s potentially going, not to what has happened.” Is there anything you can do? Yeah, possibly. You would look at your holdings, and do a little bit of adjustment. It may just be a rebalance, because stocks have fallen farther than bonds. You may just look at your allocation, and say, “Am I in the right spot?” We’ve had what, 5, 8, 10 years of really good stock growth, you may have been overweight to begin with, who knows? But, is there anything you can do? Yeah, you can review. But, don’t make a sell decision based on fear, but based on long term success of those individual investments.

Austin Wilson:

And, I would follow up, and say that, if you are in the fortunate opportunity that you haven’t been as negatively impacted by inflation as some, and you have some cash on the sidelines, now is a great time. You could true up your account value to where it was, by putting cash into the market.

Josh Robb:

Yeah.

Austin Wilson:

Now’s a good time to be putting cash to work, because, again, cash isn’t doing anything for you, and both stocks and bonds are down sharply. So, if you have cash, now’s a good time to be investing. Again, not a recommendation, but, if you have a long enough time horizon, you are going to, probably, be able to do much better in stocks or bonds, than you are in cash right now.

Josh Robb:

That’s good.

Austin Wilson:

So, you could true up your account value to where it was by putting money to work.

Josh Robb:

There you go.

Austin Wilson:

Wow, that is 11 questions from our listeners. Josh’s favorite number, 11. Next time we might make it 10.

Josh Robb:

Yeah.

Austin Wilson:

But, as a reminder, if you want your question featured on the show, we will be happy to put it on. Just send it to us at…

Josh Robb:

Until we get to 10.

Austin Wilson:

… hello@theinvesteddads.com. Yes, only 10. That’s the limit. Thank you for being here this week. I hope that you found this episode enjoyable, and just a shameless plug that I will be hosting a webinar on November 16th, 2022 at 4:00 PM entitled, Is The Future Electric?

I’m going to be talking about the history, the present situation, the technology, where we’re headed, as well as share my opinion. If you would like to join me, which, I would love it if you would, save your seat by going to theinvesteddads.com, and clicking the webinar banner. If you know someone who might benefit from this event, share with them, and I hope that you would join me. And, as a reminder, we would love it if you would share this episode with your friends and family, subscribe, and leave us a review on Apple Podcast, Spotify, whatever listener you use to download our show. So, until next week, have a great week.

Josh Robb:

All right, talk to you later.

Austin Wilson:

Bye.

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 of 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 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.