176: 40s Wisdom: Life & Financial Tips You Should Know

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. I am Austin Wilson, research analyst at Hixon Zuercher Capital Management.

Josh Robb:

I’m Josh Robb, director of Wealth Management at Hixon Zuercher Capital Management. Austin, how can people help us with this podcast?

Austin Wilson:

Well, first of all, we would love it if you’d subscribe if you’re not subscribed already, so hit that plus. Follow whatever button you have so that you get new episodes when they drop each and every Thursday, and whew, there’s a lot of them out there.

Josh Robb:

Yes.

Austin Wilson:

And more coming. We got a lot of good ideas coming. So stay tuned, and we’d love it if you’d visit our website and check out what we have going on there. We have great show notes for all of our episodes as well as if you subscribe to our newsletter to get notified when those episodes drop with a nice little summary and some links. So today, we’re following up on last week’s episode, where we actually looked back at things everyone should know in their 30s.

Josh Robb:

That’s right. I’m an expert.

Austin Wilson:

It’s a great-

Josh Robb:

I’m an expert now.

Austin Wilson:

It’s an expert. He’s an expert. Yeah. It’s a great decade. I’m currently in that decade myself, but yes. Josh had some good wisdom on things from his 30s there, but now he is 40.

Josh Robb:

Yes.

Austin Wilson:

So we’re looking forward to things that are most important for people to think about in their 40s, or their golden years. Oh. Wait. Probably not.

Josh Robb:

I think that’s a little later.

Austin Wilson:

Eh. It’s going to be your golden years, Josh.

 

[1:33] – Where You Should Be at By Your 40s

 Josh Robb:

Yes. It’s not golden yet. It’s getting there. Yeah. So first, we’re going to start. We talked a little bit about this in the last episode, but Fidelity has kind of some milestones on what they say. It’s the rule thumb, not perfect, but kind of a benchmark. In your 30s, you started with needing one times your income.

Austin Wilson:

Correct.

Josh Robb:

So if you were earning $50,000, $50,000 saved for retirement.

Austin Wilson:

Yep. Long-term savings.

Josh Robb:

By age 40, you needed three times your income. And so now, that’s the starting point for this decade. So you start at that three times the income at 40. Midway through, 45, you need four times your income, and then, by the end, at age 50, you should have six times your income. So you go from three times your income to six times your income.

Austin Wilson:

That’s so interesting. So you think about these numbers, and at any point in time, you can kind of get an idea of where you should be. That’s great, but what you need to keep track of is that’s a moving target.

Josh Robb:

Oh. Yeah.

Austin Wilson:

Your income is moving, too.

Josh Robb:

Hopefully.

Austin Wilson:

So hopefully, yeah. So when you’re 40, your income at 40 and your income at 50 are probably going to look very different.

Josh Robb:

Yeah. So to take my example, if you were earning 50,000 at 30, you wouldn’t just say, “Oh. Three times that’s 150,000.”

Austin Wilson:

“I need 150 by the time I’m 40.”

Josh Robb:

Hopefully, you’re still not earning $50,000 at 40.

Austin Wilson:

Right.

Josh Robb:

Right. So it’s a moving number.

Austin Wilson:

Maybe you’re making 75, and you need … That’s a big difference in retirement savings. That’s another 75K.

Josh Robb:

Yep.

Austin Wilson:

So yeah. It’s a big difference. Actually, it’s another 150K.

Josh Robb:

Yeah, because you times three. So it changes. It’s a moving number, but that’s a reference point, three times your income at 40, and then up to six times your income at age 50. The goal for that, what Fidelity’s using is you retire at 67, and you have 10 times your income at the end. That’s the goal, and then you can take a sustainable withdrawal out for that.

Austin Wilson:

Mm-hmm.

Josh Robb:

All right. So, I talked to some people who-

Austin Wilson:

You know people.

Josh Robb:

… are a little more experienced and wiser than I am, and I-

Austin Wilson:

That is the nicest way you could have put that.

Josh Robb:

I mean, it’s true.

Austin Wilson:

No one can get offended by that.

Josh Robb:

It is true, and I said, “Hey-“

Austin Wilson:

They’re older.

Josh Robb:

“If I’m a person heading into my forties, what are some of the things I have to look forward to? What are some things I should be aware of or be looking out for?” and just some thoughts, similar to what I just did looking backwards.

Austin Wilson:

Absolutely.

Josh Robb:

And so I got some stuff. I got about eight ideas or thoughts.

Austin Wilson:

Wow. So many.

Josh Robb:

Yeah. Two per decade there.

Austin Wilson:

Two per decade.

Josh Robb:

Yeah. I just realized, too, when I was doing the math, I’m actually entering my fifth decade.

Austin Wilson:

Right. You’ve completed four.

Josh Robb:

I’ve completed four, in my fifth. Seems like a lot. That’s a lot of decades. That’s a lot of years and days. All right. So we’re going to start and just jump through some of these. We’re both, have been able to experience this from the outside. Both our parents went through their forties.

Austin Wilson:

Absolutely.

 

[3:57] – Life is Becoming Even More Busy 

Josh Robb:

And so we’re able to see that as probably the ones that were causing the stress in their life during that timeframe. But my first one is life will be busy. All right?

Austin Wilson:

Yeah. As if it wasn’t in your thirties.

Josh Robb:

Yeah. That was a continuation of the twenties, thirties, forties. I think it continues through the fifties and sixties, too, but it’s a different kind of busy. Kids are going to cause a lot of your time to be eaten up.

Austin Wilson:

Oh. Yeah.

Josh Robb:

But it’s going to be a little different. So in your twenties and thirties, depending on when you start having kids, they’re young, and they require a lot of your time just to maintain their life.

Austin Wilson:

Right.

Josh Robb:

Right? Just to keep them there. Right?

Austin Wilson:

Feed them, change them, get them to sleep. Yes. All of those things I’m doing right now.

Josh Robb:

I’m going to reference my life here as I talk through some of these things, but between my forties and into my fifties, my oldest is going to, then, be 23 years old.

Austin Wilson:

When you’re 50.

Josh Robb:

When I’m 50.

Austin Wilson:

Yeah.

Josh Robb:

So I’m going to transition through his high school and his college for this next decade.

Austin Wilson:

Oh. Yeah. He’ll be on his own after that.

Josh Robb:

Yes, and then my younger ones in the middle, they’ll be through high school or in high school at that point. Then, my youngest, who’s five now, will be 15 and heading into high school briefly.

Austin Wilson:

Good luck with that.

Josh Robb:

Yes. So kids are going to be busy, though.

Austin Wilson:

Absolutely.

Josh Robb:

They’re going to take a lot of my time, but it’ll be more activity-driven than it will be just taking them to all the little things that you do. And so that’s great, but the plus side to that, too, with our busy life is that you got to prioritize. That was one of the things people I was talking to said, was watch your work life relationship.

Austin Wilson:

Oh. Yeah. You can’t do everything.

Josh Robb:

Because you can become overwhelmed with one or the other, and it’s a balance. It’s a hard balance.

Austin Wilson:

You only have a hundred percent of you.

Josh Robb:

Yep.

Austin Wilson:

You can’t overextend-

Josh Robb:

That’s true.

Austin Wilson:

… because you can’t do everything well. You can try to do everything, and you’re just going to be bad at all of them.

Josh Robb:

You can try. Yep. Along with that busy lifestyle, careers, they’ll continue to grow and evolve as you are getting more and more experience through your years of being in the workforce, whether you switch different types of careers, all that stuff. But you have experience, and so you’ll be very busy with life in general.

Austin Wilson:

I hope to continue to see your career evolve here at Hixon Zuercher Capital Management, because you’ve had a good run. You do some cool stuff, and we’re hoping to-

Josh Robb:

I enjoy it. I love what I’m doing.

Austin Wilson:

We’re hoping to keep doing the same thing through this next decade.

 

[6:10] – You Have More Flexibility in Your 40s 

Josh Robb:

That’s right. That’s right. Now, I just said life will be busy. My second point is you’re going to have more flexibility with your time.

Austin Wilson:

Hey.

Josh Robb:

Which sounds counterintuitive.

Austin Wilson:

Busy with flexibility. Okay.

Josh Robb:

You’re busy. Your time gets busy. But the other side of it, and this comes back to your kids, is they can be their own babysitters at some point. You know?

Austin Wilson:

Oh man. That sounds great.

Josh Robb:

I’m at that stage now where my oldest is 13, and he’s starting to be able to be self-sufficient. He can do stuff on his own, and it gives you more freedom. Then, once you have a driver in the family, that helps alleviate some of that stuff, running people around to and from. So you do get a little more flexibility with your time. The other side of that, too, is, again, with more experience in your career, you potentially have more vacation hours and more vacation days accrued so that you can take different types of trips than you used to.

Austin Wilson:

Right.

Josh Robb:

It used to be a lot of your vacation days were used up for your kids, and sick days sometimes eat into vacation days, just because if … You got that time of your life when you’re there. But now, when they’re older, and they’re doing their thing, maybe you have more opportunities to reconnect with your spouse and do trips that way.

Austin Wilson:

I mean, and you got to get a little bit of a headstart on that, because you took a fun trip for your 40th.

Josh Robb:

We did. We did. We took a little trip.

Austin Wilson:

You did. Little Jamaica action.

Josh Robb:

Just adults, no kids, and it was great, so …

Austin Wilson:

Yes. Jamaican me jealous.

Josh Robb:

Yes.

Austin Wilson:

Yeah. That is awesome. So that’s number two, Josh.

Josh Robb:

Yeah.

 

[7:33] – The Sandwich Generation & Taking Care of Your Parents 

Austin Wilson:

Number three, you wrote down here.

Josh Robb:

Yes.

Austin Wilson:

You may be taking care of your parents more.

Josh Robb:

Yeah. So you actually enter into what some experts are calling the sandwich generation.

Austin Wilson:

The sandwich. Yeah.

Josh Robb:

Not because that’s what you’re taking, packing your lunch.

Austin Wilson:

You have dependents on both ends.

Josh Robb:

Yes. It means that you’re still taking care of your kids, and potentially, you may need to start helping with your parents, as well. And so that forties and into the fifties, as well, but that time period is where you’re kind of being pulled on both ends of, again, your time being busy, is you got demands on either side, depending on how old your parents are and how old your kids are.

Austin Wilson:

Yeah. I know your parents.

Josh Robb:

But something to watch there.

Austin Wilson:

They’re not slowing down, so …

Josh Robb:

No, and again, it may not be that they’re living with you, but again, you look at that. They’re probably going to be in their seventies at that point, somewhere in that range. If they had you in their twenties, and you’re 50, that’s just math. That’s how it works. And so that concept is that, well, okay, in seventies, potentially, there’s just health issues or just, in general, just more help needed. Maybe it’s just more conversations, that you’re just starting to prepare for what’s going to come in the future. So it’s just your responsibilities increase on both ends, parents becoming one of those.

Number four.

 

[8:45] – The Decade of Milestones 

Austin Wilson:

Number four.

Josh Robb:

Number four, milestones. Forties, you’re going to see a lot of milestones. Again, I talked about my kids. You’re going to see graduations, college, potentially graduations from there, and entering the workforce, being adults, moving out. You’re going to see milestones with your career. You’re going to cross big steps.

Austin Wilson:

Your anniversary. You’re going to have a 25-year anniversary in there.

Josh Robb:

Yep.

Austin Wilson:

So that’s a big one, too.

Josh Robb:

Yes. Yeah.

Austin Wilson:

Lots of milestones.

Josh Robb:

So you’re going to see a lot of those kind of points in time that you had been looking at forward and say, “Oh. Man. When we get there-“

Austin Wilson:

It’s some big numbers.

Josh Robb:

“… you’re going to cross some of those.” And so along with those, busyness, the careers, the changes, you’re going to see your friends evolve and change. Your friendships are going to look totally different on the other end of forties, because your time gets very busy. The very important people in your life will still be there, but you’re going to see that kind of narrow down, which is not necessarily a bad thing. There are friends that you have that are there, and they’re great.

But when it comes to really good long-term friendships, you’re going to find those out in your forties. You’re going to find the people that, even if it’s been a while, and you haven’t connected, you can reconnect and reestablish that, and it just continues on, so …

Austin Wilson:

Yeah, and you’ll get deeper with the ones you already have.

Josh Robb:

Yes. Yep.

Austin Wilson:

The good ones.

Josh Robb:

That’s important.

Austin Wilson:

Yep. Absolutely.

Josh Robb:

Yep.

 

[10:06] – Dad Joke of the Week 

Austin Wilson:

So that’s halfway through your list, Josh. By the way, I got you for the next decade.

Josh Robb:

Oh. Right. I appreciate it.

Austin Wilson:

We’re going to be right here. So halfway through your list. I’m going to break it up. I’m going to give us a dad joke of the week, and I might give you two depending on how you react to this first one here. So here’s the joke.

Josh Robb:

I’m ready.

Austin Wilson:

What do you call a fish wearing a bow tie?

Josh Robb:

Ooh. I don’t know.

Austin Wilson:

Sofishticated.

Josh Robb:

Sofishticated. Like it. I like it.

Austin Wilson:

Okay. Here’s another one for you. How do you follow Will Smith in the snow?

Josh Robb:

His fresh prints?

Austin Wilson:

Yep. You follow the fresh prints.

Josh Robb:

Ah. There you go.

Austin Wilson:

That’s funny, because my wife and I are watching Fresh Prince right now.

Josh Robb:

Oh yeah. Yeah.

Austin Wilson:

It’s funny.

Josh Robb:

Yeah.

Austin Wilson:

It’s so early nineties period-correct, which is like when we were itty bitty. So we’re having to look up some of the cultural references.

Josh Robb:

“What are they talking about here?”

Austin Wilson:

But it’s so funny. It’s a good show. It’s a good show, and, okay, it’s a shameless plug here, Ted Lasso.

Josh Robb:

Ah.

Austin Wilson:

Season three is coming up. Might be out by the time this comes out, but we are preparing for Ted Lasso, and my wife was shopping today and got me a pair of Ted Lasso socks.

Josh Robb:

There you go.

Austin Wilson:

So you may see those running around the office. Might say, “Be a goldfish,” on it or something like that. All right. So we got four more.

Josh Robb:

Yeah.

 

[11:19] – What Do Friendships Look Like in Your 40s? 

Austin Wilson:

Four down, four to go. We got number five here. Things that might look a little bit different in your forties. Number five, friendships, Josh.

Josh Robb:

Yeah. I touched-

Austin Wilson:

Touched on it a little bit.

Josh Robb:

… on this a little bit with milestones. When you’re crossing those, there’s going to be people in your life that’ll be a part of those. Right? As you’re going through graduation, some of your friends will also be experiencing that. And so as you look at your friendships in your twenties to your thirties, and the same will happen in your forties, it’s just going to evolve to really be the ones that are most productive for you, the ones that add value. They’re the ones you’re going to want to keep, but it is also going to be the concept of, who are the ones that are also experiencing the same thing that I can talk with? Right?

Austin Wilson:

Yeah.

Josh Robb:

Because you’re going to be going through a lot of things that you’ve never gone through before, and I’m going to need somebody there to be able to work through that with. Right?

Austin Wilson:

Well, think about the list you just went through.

Josh Robb:

Yes.

Austin Wilson:

Aging parents, that’s a big one.

Josh Robb:

Yeah.

Austin Wilson:

“Hey, friend. You’re going through this, too. How are you managing this?” or, “Hey. My kid’s going off to college, or graduating college, or getting married.” Who knows what that looks like? Those are big things. So yeah. That’s good to have someone in your corner who’s even maybe in the same phase of life or a couple years ahead who just went through it so you can just kind of run some ideas, and thoughts, and feelings through.

Josh Robb:

Yeah. Yeah, and there may be some reconnecting, because again, the thirties are crazy.

Austin Wilson:

Yeah.

Josh Robb:

And so in the forties, you may be able to reconnect with some of those friends that just, “Life got busy,” and then you can kind of reconnect and grow those again.

Austin Wilson:

Mm-hmm.

 

[12:44] – What Should Your Retirement Savings Look Like? 

Josh Robb:

All right. Next one, number six. The last couple are finance-related.

Austin Wilson:

Got to be. They got to be.

Josh Robb:

I got to include some of these things.

Austin Wilson:

I know.

Josh Robb:

All right? So the first one of those is be more serious about retirement savings. Right?

Austin Wilson:

Because it’s getting close. Right.

Josh Robb:

You’re only going to have a couple decades left, and you’re going to need to get serious, especially as you are going to be transitioning out of some of the more expensive periods of your life as the kids graduate and move out. You may see some additional cash flow as your income continues to go up through your job and increases in salary. You’re going to have that. But being serious about how much you’re saving is very important. Again, we talked about those kind of milestones.

Austin Wilson:

Milestone numbers. Yep.

Josh Robb:

Three, from three times your income to six times your income, that’s a big increase.

Austin Wilson:

That’s a big build.

Josh Robb:

And so you got to make sure you’re saving along the way to do that. Couple things I noted here. When you’re serious about retirement savings, do not use retirement assets for college.

Austin Wilson:

Never.

Josh Robb:

The reason, and we see this a lot with our clients, when we’re talking through with them. I always say there’s more than one way to pay for college. There’s only one way to pay for retirement, which is through your savings. And so college, there’s all different ways of doing that. Concept of trying to make back up, it’s so much harder in your forties and into your fifties to catch back up if you’re behind on retirement.

Austin Wilson:

Exactly.

Josh Robb:

So get serious about it. Be very diligent about what you’re putting away, where you’re putting it away, because again, with the income increases, it becomes some tax planning issues. But when it comes to college, find other ways to pay for it. Do not use your 401(k) or any IRAs, those type of things. It just, it makes it very hard to catch back up.

Austin Wilson:

Yep.

Josh Robb:

But I will say, as expenses go away, college is the big one. If you’re saving for college with your kids, and then they go to college, don’t absorb that extra money once they are done. Right? Put that toward savings.

Austin Wilson:

Yep.

 

[14:35] – Watching Lifestyle Creep in Your 40s 

Josh Robb:

Next one kind of goes the other side of it. So be serious about your savings. Watch, I call it lifestyle creep.

Austin Wilson:

Oh yeah.

Josh Robb:

But watch how much you’re increasing your spending in your budget, because again, as cash flow frees up on the later end of that decade-

Austin Wilson:

Or your income goes up.

Josh Robb:

… or your income goes up throughout that timeframe, be careful about absorbing that into your budget. Again, especially when you’re young, I think you get caught up in seeing somebody else doing this or having this, and you kind of are chasing after what your neighbors are doing.

Austin Wilson:

Mm-hmm. The house, or the car, or the vacation.

Josh Robb:

Yeah. Hopefully, in your forties, you kind of have got that out of your system and matured to the point where you’re saying, “I don’t know if I need that. Here’s something that’s more important to me,” to be very aware of how much you’re spending on your budget. Because as we’ve realized as we’re helping clients in retirement, your spending in retirement has the biggest factor of success or failure-

Austin Wilson:

Oh. Yeah.

Josh Robb:

… more so than how much you’re saving, all that, how long you work. Your spending in retirement is a huge factor to success. So if you can control that along the way, you’re going to be in a lot better of a spot.

Austin Wilson:

Well, think about this. I mean, we talked about, last week, in the last episode, I mentioned the 50/50 rule. You know?

Josh Robb:

Yep.

Austin Wilson:

You get a 5% raise. You let your lifestyle inflate by two and a half percent. Then, you increase your savings by two and half percent, and you’re double helping your retirement success right?

Josh Robb:

Yes. On both ends.

Austin Wilson:

Both ends. Well, think about that example of, say you get a 4% raise per year throughout your entire working career on average. You’ve done a pretty good job. You’ve got a consistent 4% raise. Well, compounding works for that, too, and at the very end, you will have a substantially lower budget if you don’t let that entire increase flow through to your budget. That is just so much less to replace with money that you’ve saved. The power of compounding works in so many ways. It can work against you, though. That’s when it comes to your spending.

Josh Robb:

Yes, and I actually had a chart on that. I was trying to pull it up for you while you were talking and we looked at that 50/50 rule. And so the concept is just, if you just have income, and let’s say you’re saving 10% of your salary, and you keep getting income increases, you get a 2% raise, 4% raise, whatever, your savings goes up, because 10% of $50,000 or 10% of $52,000, you’re saving more.

Austin Wilson:

Exactly. Yep.

Josh Robb:

But like you’re saying is if you take a portion of that increase and don’t let it go to your savings, you’re going to increase your savings both in dollar terms and in percentage terms.

Austin Wilson:

The percentage is key.

Josh Robb:

Yes.

Austin Wilson:

Because dollars, yeah, you’re going to make more dollars, which means you’re going to save more, which is great, but that keeps the percentage fixed. That percentage, ideally, you need to grow, especially as you get a little bit older and you’ve got more expendable income. That percentage, you need … Ideally, we talk about things like, “Oh. Yeah. Get up to that 20% of your income rule to be putting away.” You can’t just do that overnight. Right?

Josh Robb:

Yes.

Austin Wilson:

It’s after your thirties, maybe, where you’re able to start getting up to those numbers, and it’s only through percentage increases, not dollar increases.

Josh Robb:

Right.

Austin Wilson:

Yep.

Josh Robb:

So I’m just going to walk you through. It’s hard to tell when I’m talking. If you see these visuals, it’s a lot easier. But if we have two people, and they’re both earning $50,000, 25 year old, and they both said, we’re going to save 10%. All right? So they start, $50,000. They’re saving 10%, $5,000.

Austin Wilson:

Okay. Yep.

Josh Robb:

All right? Person one says, “Okay. Every time I get a raise, I’m going to continue to save 10%.” All right? Just 10% flat all the way along. All right? So next, if they get a … We’re going to use a 5% raise just across the board, and they’re going to earn 7%. So every time they get a raise, so they went from $50,000, 5% raise, their next 52,500. Okay?

So their savings went from 5,000 to 5,250. Right? So they’re saving more every time. When they get to age 65, if they just get a 5% raise every year, and they save 10% of that, they’ll have accumulated a retirement value of over $2 million. Great. They’ve done well with that savings because of their earnings and their growth weight, but their living expense, how much they’re spending, and all they took out of that, I’m not including taxes, just simplified, their living expense is whatever they have left over after their savings. So $50,000, they’re saving five. What’s left is $45,000. So that’s your living expense.

Very simple calculation. Long story short, they need to spend $316,000 a year, but a safe withdrawal rate out of the 2 million doesn’t get them there. It’s less.

Austin Wilson:

Because of lifestyle creep.

Josh Robb:

Yep, and so person B, same thing. Same starting point, 25 years old, $50,000, saving 10%. But they do the 50/50 rule, so that 5% raise?

Austin Wilson:

They’re putting two and a half in.

Josh Robb:

Half goes in. Half goes through their savings. When they’re, hit retirement, they have almost six and a half million dollars savings.

Austin Wilson:

That’s almost three times.

Josh Robb:

Yes, and their withdrawal is enough to not only keep up with their living expense, but it’s more than their living expense.

Austin Wilson:

So they can party and retire.

Josh Robb:

So they get to retire.

Austin Wilson:

Yeah.

Josh Robb:

They could have retired earlier, or they could increase their spending in retirement.

Austin Wilson:

Wow.

Josh Robb:

That’s the 50/50 rule.

Austin Wilson:

That’s powerful. Yes. That puts real numbers on my idea. Thank you very much.

Josh Robb:

It’s hard. It’s hard to visualize it, but it works.

Austin Wilson:

It is.

Josh Robb:

And what you’re saying is it just-

Austin Wilson:

That’s both sides. Right?

 

[19:44] – Educate Your Kids on Personal Finance 

Josh Robb:

It does. It does impact both sides. So, number eight, the last thing, and this is very important, is I think in your forties is a great time to educate your kids on personal finance.

Austin Wilson:

You would say that because you’ve got four kids.

Josh Robb:

I would say that your thirties are a great time, but I think the forties is a good time.

Austin Wilson:

The more kids, the more important.

Josh Robb:

But the concept being is, like I talked about, the forties, at least for my age, kid age, they’re going to be at the point where they’re comprehended. Right?

Austin Wilson:

Right.

Josh Robb:

My five-year-old, right now, can’t really comprehend finance concepts to more extent than just, “Here’s a piggy bank. This is why we split up a little bit of the money you get and put it different places.”

Austin Wilson:

Yeah.

Josh Robb:

Right? Even that’s kind of a weird concept, that, “Oh. It’s just for later,” type of thing. But I think the forties is a good time to talk to your kids and say, “Hey. Here are some of the things that you need to know as you are heading into the early stages.” Right? It goes back to the things I wish I would’ve known in my thirties. I mean, if I could tell my kids the things I wish I would’ve known in my twenties and get a head start, man, they’re going to be set up really well.

Austin Wilson:

Absolutely.

Josh Robb:

And with the habits and the good training that they need for that. So I think the forties is a great time to talk to your kids about personal finance.

Austin Wilson:

Josh, you’re a great guy.

Josh Robb:

Yeah.

Austin Wilson:

Well, thank you for sharing these, and this is a reminder that if you have any questions, you can always email us at hello@theinvesteddads.com. We would love it if you’d share this episode. If you know someone in their forties, this could really help them. So, share this episode with them, friends and family, whatever, and always, we’d love it if you subscribe so you get a new episode every single Thursday. Leave us a review on Apple Podcasts, or Spotify, or wherever you’re listening. That really helps us to be able to help more people, and if you have any questions about your financial situation, feel free to email us, again, at hello@theinvesteddads.com or visit our website and click on the invest with us tab. We’d love to chat with you and see if we can help you achieve your goals. So again, thanks, Josh, for walking us through things we need to think about in our forties, and until next week, all right, talk to you later. 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 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 principal. There is no assurance that any investment plan or strategy will be successful.