163: Current Fitness Industry Trends

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 our podcast?

Austin Wilson:

Well, we would love it if you would subscribe. If you’re not subscribed, hit that plus, follow, whatever that button is on your podcast player. That way, you get new episodes when they drop each and every Thursday. We would also love it if you’d visit our website. Sign up for our weekly newsletter. That way, you get notified when that episode comes out, and you get a little email summary. It’s really handy with a link to listen. So we would love it if you do that. But today, Josh-

Josh Robb:

Yes.

Austin Wilson:

… it’s January. It’s early in the year. Gyms are full, so today we’re going to be talking about the fitness industry.

Josh Robb:

Yes.

Austin Wilson:

If you followed The Invested Dads’ diet recommendations-

Josh Robb:

Yep, donuts.

Austin Wilson:

… it’s likely you have a dad bod and need to get back into shape. So we’re going to talk about just that today.

Josh Robb:

Yes. I do know that the soccer physique is one of the most sought-after physiques, and so I’m trying to get my belly to look like a soccer ball. So let’s see what happens there.

Austin Wilson:

That’s what it is?

Josh Robb:

Yes.

Austin Wilson:

I thought you were going to say the ones where you get bumped and you fall over.

Josh Robb:

Oh, no. Grab your leg.

Austin Wilson:

Yeah, yeah.

Josh Robb:

That’s one of my biggest frustrations. We had the World Cup earlier, end of 2022. I love soccer. Played it a lot, coached it a lot, enjoy it. But one of my biggest frustrations is the falls, the-

Austin Wilson:

Drama?

Josh Robb:

I tell all the kids I coach, if you’re on the ground, you’re not in the play and we’re down a man. You get up. The ref will make the call one way another. I have yet to meet an actor good enough to sell it, that the ref changes their mind. They’re either calling it or not.

Austin Wilson:

It’s like the NBA.

Josh Robb:

Yes.

Austin Wilson:

Same kind of thing.

Josh Robb:

No, floppy.

Austin Wilson:

I like soccer as well. My soccer enjoyment really comes in the form of Ted Lasso.

Josh Robb:

Oh, yes.

Austin Wilson:

So, it’s probably my wife and I’s favorite show.

Josh Robb:

It’s a good show.

Austin Wilson:

Here early this year, I believe season three will be coming out, which-

Josh Robb:

I’m not through season two.

Austin Wilson:

We’re really excited.

Josh Robb:

I don’t have an Apple TV.

Austin Wilson:

I watched it all and binged it when my wife was away one weekend, and then I got her to try it. She didn’t like it for the first episode, and then she got hooked, and now she wants to watch it more than I do. I’m like, “We just watched it. I can’t watch it again.”

Josh Robb:

Yes.

Austin Wilson:

But when we get up or sit down, we’re always like, “Oy,” and then, “Oy, Keeley,” talking like Roy Kent. So really, really funny. So anyway, we’re not talking about soccer.

Josh Robb:

No.

Austin Wilson:

If you guys can’t tell, I have a little bit of a hoarse voice. It is that time of year where colds and stuff are going around. So, a couple comments on fitness in general. I just want everyone to know that we are equal opportunity people who love all shapes.

Josh Robb:

Yes.

Austin Wilson:

Love people. Round is a shape, people.

Josh Robb:

Yes.

Austin Wilson:

It’s a certain kind of being in shape.

Josh Robb:

Yes. By the way, ponies, one of the quietest creatures in the world.

Austin Wilson:

Yeah?

Josh Robb:

Yeah, because they’re a little horse.

Austin Wilson:

They’re a little horse. That’s good. And another fitness comment is that I regularly enjoy fitting this whole pizza in my mouth.

Josh Robb:

Yes.

Austin Wilson:

So those are my fitness jokes.

Josh Robb:

That’s it?

Austin Wilson:

That’s not even the dad joke.

Josh Robb:

Nope. Those just-

Austin Wilson:

No, those are coming.

Josh Robb:

Those are just some free ones.

 

[3:16] – Key Fitness & Gym Statistics

 Austin Wilson:

Josh, I want to give you some key fitness industry and gym statistics, globally and in the Us. these are from a Zippia article, Zippia, that I’ll link in the show notes. So big numbers here. The market value of the global fitness industry is over $87 billion.

Josh Robb:

Wow.

Austin Wilson:

That’s big with a B. The US fitness industry revenue in 2021 was $33.25 billion.

Josh Robb:

Wow.

Austin Wilson:

That’s revenue. So really, as a proportion of overall, US has got a lot of that. In the United States, 39% of Americans hold gym memberships. Do you have a gym membership?

Josh Robb:

Nope.

Austin Wilson:

Me neither.

Josh Robb:

Well, hold on.

Austin Wilson:

Oh, oh.

Josh Robb:

I wonder what that percentage … For instance, we have a subscription to a app, Peloton app. We don’t have a Peloton bike, but you can subscribe to the app.

Austin Wilson:

I believe this does not count that.

Josh Robb:

Just gym memberships?

Austin Wilson:

Yep.

Josh Robb:

Okay. Because we pay monthly for that subscription to use the-

Austin Wilson:

Trainers.

Josh Robb:

… trainers for not only just the bike, but also, they have all things.

Austin Wilson:

I would say the same.

Josh Robb:

We have that.

Austin Wilson:

We have the Apple one bundle, which has Apple Fitness+, which I use all the time, not included. 39%. So, four out of 10 Americans have gym memberships. Between now and 2028, the fitness industry is expected to grow 171.75% to 434.75 billion.

Josh Robb:

That’s big growth. That’s a bunch of growth.

Austin Wilson:

From now until 2028, the online fitness industry, that’s where you’re coming in, is expected to see a growth of 33.1% per year.

Josh Robb:

Okay. That’s part of that 171, I assume.

 

[4:38] – Current Fitness Growth Trends

 

Austin Wilson:

Exactly. Yep. Lots of growth happening. So, let’s talk about some fitness industry trends and projections.

Josh Robb:

Yes.

Austin Wilson:

So, fitness industries have been growing at a rate of 8.7 % the past few years. Prices for gym memberships and exercise programs are not necessarily getting higher, but rather, more and more people are choosing to prioritize their physical health.

Josh Robb:

Good. That is a good thing.

Austin Wilson:

I think we should all spend a little bit more time prioritizing our physical health.

Josh Robb:

Probably should.

Austin Wilson:

So many people realize that the benefits of physical fitness go beyond the obvious weight loss and more energy.

Josh Robb:

Awesome.

Austin Wilson:

It can improve your mental health as well.

Josh Robb:

Yep. I think health companies are realizing that, too, that if they can encourage positive behaviors, there’s less costs down the road. So, I think it’s-

Austin Wilson:

Well, actually-

Josh Robb:

… pushing traffic.

Austin Wilson:

… our insurance company, United Healthcare that we use, you can get Peloton subscription for free.

Josh Robb:

Yeah, one year.

Austin Wilson:

I think it was maybe an Apple Fitness+ or something, too. There were some promos because they’re like, “Oh, hey, let’s get people moving.”

Josh Robb:

They’re working out.

Austin Wilson:

It’s going to make actually less cost for us.

Josh Robb:

That’s right.

Austin Wilson:

Which is super good. Between 2011 and 2019, the revenue for gyms and health centers in the United States consistently rose each year. That’s a long span there. Unfortunately, in 2020, revenue dropped drastically to the pandemic and all the social distancing rules.

Josh Robb:

Makes sense. Gyms were closed.

Austin Wilson:

But they were offset somewhat by the rise in online fitness programs. We saw in 2021 that revenue for gym memberships rebounded and was on the rise once again.

Josh Robb:

Good.

Austin Wilson:

The fitness industry revenue declined by 32.45% in 2020 but rebounded to 0.55% below. So very close pre-pandemic level.

Josh Robb:

Just a half a percent below where they were. Gotcha.

Austin Wilson:

Yeah, right at, so you’re essentially in line with 2019 levels to in 2021. So just one year blip.

Josh Robb:

That’s great.

Austin Wilson:

The health industry that was hit the hardest during 2020 and 2021 were gyms and health centers, which makes a lot of sense. Even at the end of 2021, they were still down 22.5% from their revenue levels in 2019. So, they just made up for it in other areas of the health industry.

Josh Robb:

Obviously, the online probably being a big piece of that.

Austin Wilson:

Exactly, because the online fitness industry was up 66.32% by the end-

Josh Robb:

There you go.

Austin Wilson:

… of 2021 compared to pre pandemic levels. So big moves there. By the end of 2028, the expected revenue for the fitness industry in the United States is expected to be $434.74 billion.

Josh Robb:

Wow.

Austin Wilson:

Big growth. Big billions. That’s a beat. The projected trend shows annual growth of 33.1% from 2021 to ’28. By ’28, the fitness industry will have grown 171.75%. The fastest growing segment in the industry is the online and digital fitness industry expected to grow 640%-

Josh Robb:

Wow.

Austin Wilson:

… from ’21 to 2028.

Josh Robb:

That’s crazy.

Austin Wilson:

By 2030, there are predictions that the fitness industry will have 230 million members.

Josh Robb:

Wow. That’s also a lot.

Austin Wilson:

Currently the United States, well, currently the United States has the largest gym industry revenue in the world. If the US wants to retain its leadership in the fitness industry, it would need to increase by 15.6 million members by 2030 or 1.33 million new gym members per year.

Josh Robb:

Interesting.

Austin Wilson:

So continually adding people is key.

Josh Robb:

Yes.

Austin Wilson:

The online and digital fitness industry is expected to grow at a 33.5% compound in new growth rate from 2020 to 2027. It is noteworthy that this is due largely to the fact that many prefer virtual fitness solutions because the convenience factor of being able to exercise from your own home. That’s something that I feel strongly about because I spent a little bit of money to put together a nice gym setup in my basement. I even have a TV and an Apple TV, so I can watch-

Josh Robb:

Ted Lasso.

Austin Wilson:

… workouts. Okay, Ted Lasso sometimes, but watch Apple Fitness workouts and do all of my stuff without having to leave my house, because that’s one barrier I don’t have to face is the choice to go somewhere.

Josh Robb:

Yes.

Austin Wilson:

I live really close to the Y. So I could get there, but it’s just so much easier to do it from your own home.

Josh Robb:

It is. Then you can shower. You don’t have to worry about all that. Just easy, convenient.

 

[8:40] – Number of U.S Gym Members

 

Austin Wilson:

Absolutely. So let’s talk about some fitness industry statistics by gym members and fitness consumers. There are 64.19 million Americans who are members of a gym or health club. That’s a chunk.

Josh Robb:

That’s a good chunk.

Austin Wilson:

So, this equates to about 19% of the population in the US having a gym membership. About 49.9% of Americans go to the gym at least twice a week.

Josh Robb:

Oh, interesting. That’s more than I would’ve expected.

Austin Wilson:

The average American spends less than $30 per month on a gym membership in the US.

Josh Robb:

That’s good.

Austin Wilson:

When you think of things like Planet Fitness, $10 probably makes a lot of sense there. The price can vary on the location, types of equipment and classes, and the facility. Budget gyms can cost as little as $10 per month, whereas elite fitness gyms can be as much as $100 a month. Aside from the monthly fee, you can expect to pay other fees like initiation and annual fees and all kinds of things.

Josh Robb:

Or if have a membership, but then you pay to have a trainer, those type of things.

Austin Wilson:

That’s probably extra.

Josh Robb:

Or to get your protein powder.

Austin Wilson:

Got to get protein.

Josh Robb:

That’s where it’s at.

Austin Wilson:

So, boutique fitness studios.

Josh Robb:

Specialized like spin classes.

Austin Wilson:

Yeah. A boutique fitness studio is a small gym that focuses on group classes and specializes in one or two fitness areas.

Josh Robb:

I think I nailed that.

Austin Wilson:

You did. These studios typically cost two to four times more than other health clubs. This area is expected to continue to grow nearly 17% per year.

Josh Robb:

That’d be like the hot goat yoga.

Austin Wilson:

Hot goat?

Josh Robb:

Yes.

Austin Wilson:

What?

Josh Robb:

You know what I’m talking about?

Austin Wilson:

No.

Josh Robb:

Oh, my goodness. Yoga, but they do in a hot room, so everybody’s sweating. Then the goats climb over you.

Austin Wilson:

That’s a real thing?

Josh Robb:

Google it.

 

[10:13] – Fitness Stats by Generation

 

Austin Wilson:

Oh, man. I don’t know if I want to. All right, so let’s break it down by demographics, really by generations.

Josh Robb:

Yes.

Austin Wilson:

So only 14% of Gen Z-ers, so those are babies, go to the gym, whereas the greatest generation, the millennials-

Josh Robb:

You wait.

Austin Wilson:

Pause.

Josh Robb:

Gen Z, they don’t need to yet. Right?

Austin Wilson:

I know because their metabolism’s like-

Josh Robb:

Think back to when you were 18 years old and you’re like, “Life is great. I eat whatever I want.”

Austin Wilson:

I know.

Josh Robb:

“I’m as healthy as I can be.” Yeah. Okay, go on.

Austin Wilson:

Millennials, the greatest generation, 33% go to the gym.

Josh Robb:

Yep.

Austin Wilson:

Now we’re both in that group.

Josh Robb:

We are.

Austin Wilson:

Gen X, 24% and Baby Boomers, 22%.

Josh Robb:

I wonder if the millennials, it’s a social thing, too, for a lot of them because they’re the largest group.

Austin Wilson:

Yeah. I wonder. That’s probably a good point, Josh.

Josh Robb:

Because you look at that age group and they’re at that prime time where they’re hanging out with their peers, doing their thing. You got your Gen Xers who are in the later stages and they’re like, “You know what? I probably still need to work out, but I can do this at home.” Then the baby boomers are probably coming back around and starting to think about that.

Austin Wilson:

They’re like, “Oh, my hip’s bad.”

Josh Robb:

The silver sneakers group or whatever.

Austin Wilson:

My dad calls those Q-tips-

Josh Robb:

Yes?

Austin Wilson:

… because they got white hair on the top and white New Balances on the bottom.

Josh Robb:

There you go. Q-tips. Nothing wrong with white New Balances.

Austin Wilson:

There is something wrong with white New Balance.

 

[11:38] – Dad Joke of the Week: Workout Edition

 

Josh Robb:

All right. I got a couple dad jokes for you.

Austin Wilson:

Bring it.

Josh Robb:

These are workout-related dad jokes.

Austin Wilson:

That’s what I was hoping.

Josh Robb:

All right. All right. So there is a new machine at the gym. Unfortunately, it’s made my health worse.

Austin Wilson:

Oh, no.

Josh Robb:

Yeah, it’s the vending machine.

Austin Wilson:

That’s good.

Josh Robb:

Then one more for you. Did you know there’s another place you can work out? It’s your hairdresser’s. You can do a lot of curls there.

Austin Wilson:

You can do a lot of curls.

Josh Robb:

A lot of curls there.

Austin Wilson:

Man, that’s good stuff.

Josh Robb:

There it is. There it is. A couple for you. Workout dad jokes.

 

[12:08] – How Many Fitness Centers Are There?

 

Austin Wilson:

Hey, curls are good. All right. So, more statistics. There are 32,270 health and fitness clubs in the US.

Josh Robb:

Wow.

Austin Wilson:

That’s a lot.

Josh Robb:

That is a lot. Due to the pandemic, the number of health and fitness centers declined. $29.2 billion was lost in revenue. There are over 200,000 health and fitness clubs worldwide. The United States, Germany and the UK have the highest fitness club memberships.

Austin Wilson:

Oh, okay.

Josh Robb:

That was the stat then for us to keep being the biggest one. We have to grow by that amount-

Austin Wilson:

Yes, outgrow them essentially.

Josh Robb:

… to keep that. Gotcha.

Austin Wilson:

Yep. The US has the most gym members, the most amount of gyms, and creates the most revenue when compared to all other countries in the world.

Josh Robb:

That’s why we’re the strongest nation right there.

Austin Wilson:

We also eat the worst.

Josh Robb:

Yes.

Austin Wilson:

So that explains why we need to go to the gym.

Josh Robb:

We have to. We’re the strongest nation because of it.

Austin Wilson:

The US has 64.19 million gym members. The next closest is Germany at 11.66.

Josh Robb:

Oh, wow.

Austin Wilson:

Big difference. The US is home to 41,000 gyms. Next is Brazil with 29,000 gyms. The US recorded revenue of $35.03 billion with Germany next at only $6.0 billion. Big differences there.

 

[13:14] – The Effects of the Pandemic

 

Austin Wilson:

Some statistics around the pandemic. So, between 2019 and 2020, the fitness industry experienced a 32.45% decline in revenue.

Josh Robb:

That’s a big drop.

Austin Wilson:

The industries that were hit the hardest were gyms, health clubs, and boutique fitness.

Josh Robb:

Obviously.

Austin Wilson:

Because you couldn’t meet together.

Josh Robb:

Social distancing, all that.

Austin Wilson:

When you’re working out, you’re breathing.

Josh Robb:

A lot of heavy breathing.

Austin Wilson:

It’s hard not to.

Josh Robb:

Yes.

Austin Wilson:

If you’re like me, you breathe heavily the whole time. In 2020, 75% of active adults were using live streaming workouts. So online. 70% of active adults were using on demand workouts.

Josh Robb:

So, recorded?

Austin Wilson:

Yep. During the year 2020, on demand workout grew by 311% and live streaming workout videos grew by 971%.

Josh Robb:

Woof.

Austin Wilson:

That’s a huge jump. It’s almost like 10X. Between the months of March 2020 and August 2020, the minutes spent streaming health and fitness content increased by 1300%.

Josh Robb:

Wow.

Austin Wilson:

Big, big moves.

Josh Robb:

You were at home, couldn’t go anywhere, couldn’t do anything.

Austin Wilson:

Working out in the basement.

Josh Robb:

I’m going to work out.

Austin Wilson:

Globally, the home fitness equipment market grew at a rate of 40.4% from 2019 to 2020. This market went from 6.76 billion in 2019 to 9.49 billion in 2020. It’s expected to decline by 3.16% per year by 2023 due to gyms and fitness centers reopening.

Josh Robb:

Makes sense.

Austin Wilson:

Makes a lot of sense. People aren’t needing to go buy more things for the house. By the end of 2021, the global fitness industry revenue had rebounded to pre-pandemic levels as we talked about earlier. In 2020, revenue was a huge hit, like I said. 32% down, only $107.48 billion. Online only, the fitness industry was worth $6.0 billion in 2019. But since the pandemic has grown by 77.33%, the fastest growing market in the fitness industry, and now there are a ton of options-

Josh Robb:

Yes.

Austin Wilson:

… available online. So that is some statistics about the fitness industry and some of the changes and challenges they had to go through, through the pandemic. But the question I have for you, Josh.

 

[14:24] – How Josh & Austin Maintain Their Physique

 

Josh Robb:

Yes.

Austin Wilson:

What do you do to maintain your excellent physique?

Josh Robb:

Oh, man.

Austin Wilson:

Excellent physique.

Josh Robb:

The older I get, the harder it is. I’m not in great shape to begin with. I’m okay. But I’m not in great shape, and so I need to be more diligent about it. It used to be, the amount of coaching I did was I always liked to get out.

Austin Wilson:

It would be enough.

Josh Robb:

I just used to get out and play with them while we’re doing it, enough running around. Usually four days a week, I’m out there doing that. So, it was enough. Then we’d like to go on family walks, things like that. It was just my normal life kept me active enough to maintain.

Austin Wilson:

Right.

Josh Robb:

But I need to do more. So, we do have a bike. It’s not a Peloton, but we use the app, and we have a treadmill and I have some free weights. I just need to be more diligent about that. And nice weather outside is the best. Again, my ideal working out is doing something with the kids. Right?

Austin Wilson:

Right.

Josh Robb:

If I’m out and we’re throwing a ball around, kicking a ball, running, those type of things, or we’re going for a walk, that to me is ideal. I just have a hard time just saying, “I’m going down to the basement to work out for 30 minutes or whatever.” Just seems like a waste to me. So, I struggle. Austin, I do.

Austin Wilson:

Hey, that’s okay. I wasn’t trying to call you out.

Josh Robb:

Oh, it’s fine. But like I said, when I’m in my normal active, because I will say I’m a pretty good eater when it comes to what I eat. I love donuts.

Austin Wilson:

Yes, you do.

Josh Robb:

But moderation is what I live by for a lot of things in my life.

Austin Wilson:

It’s true.

Josh Robb:

That plays out in what I eat. I’m aware of my food consumption, especially when it comes to fried unhealthy food periodically, but in moderation. So that’s been helpful to maintain that. If I do that and I’m aware of what I’m eating and I’m just doing my normal life of active with my kids, it levels out.

Austin Wilson:

Right.

Josh Robb:

My weight has really stayed pretty consistent over the last 10 years or so really.

Austin Wilson:

That’s good.

Josh Robb:

Fluctuates, but within a range and I’m okay with that.

Austin Wilson:

That’s good.

Josh Robb:

What about you, Austin? I know you’ve been on a kick.

Austin Wilson:

I feel like since I turned 30, my metabolism.

Josh Robb:

Oh, just wait.

Austin Wilson:

Yeah. My metabolism fell off a cliff.

Josh Robb:

Yes.

Austin Wilson:

I have to be a lot more intentional, especially when it’s cooler out. We like to take power walks every day, but we can’t do that when it’s 20 degrees out.

Josh Robb:

Not when it’s freezing.

Austin Wilson:

Nobody walks in January.

Josh Robb:

No, nobody walks.

Austin Wilson:

So, I have to work out intentionally. The only option, because I’m unwilling to sacrifice time with my family to work out, is I have to get up really early. I try and do it five days a week.

Josh Robb:

Here’s an idea. Here’s an idea.

Austin Wilson:

Work out in your sleep?

Josh Robb:

No. A wider treadmill for two people to walk together inside.

Austin Wilson:

Ah, man.

Josh Robb:

I’m going to patent that thing.

Austin Wilson:

That sounds like a lawsuit waiting to happen.

Josh Robb:

Oh, the couple treadmill.

Austin Wilson:

The couple. It’s a snuggler.

Josh Robb:

Or you could have two side by side with different paces, but you’re close enough to hold hands while you walk.

Austin Wilson:

You just need a loveseat with a treadmill in front of it. So, you can watch Seinfeld and we’ll get your walk on.

Josh Robb:

I’m telling you.

Austin Wilson:

But no, I try and work out five days a week. I’ve got a nice gym set up in the basement with a spin bike, so I can do Apple Fitness+ bike rides. I’ve got a bunch of free weights and rack and a bench and a bunch of dumbbells and stuff like that. What are the kettle bells? I have all kinds of stuff.

Josh Robb:

That’s nice.

Austin Wilson:

Bands, everything.

Josh Robb:

One of the keys to success is accountability.

Austin Wilson:

Yes.

Josh Robb:

You have that.

Austin Wilson:

I do, yeah, actually. So, my buddies and I from high school, which we ironically used to work out together all the time because we were in sports together. But Colin and Corey, if you’re listening, we call them the Wilsons, Thompsons and Links. We get together all the time.

Josh Robb:

There you go.

Austin Wilson:

But anyway, we use the Marco Polo, the app, reads like video chat. Every day when we complete our workout, we send each other a message.

Josh Robb:

There you go.

Austin Wilson:

We congratulate each other.

Josh Robb:

Accountability.

Austin Wilson:

We keep each other accountable. We’re not too hard on each other that often if you skip a day. We all have kids now and it’s hard. So try and do that five days a week. Try and mix in a little strength, a little cardio. Don’t forget leg day.

Josh Robb:

Yes. Core is key.

Austin Wilson:

Core is key. I do core on every lifting day. I do leg day twice a week. Arm day twice a week, and cardio once a week.

Josh Robb:

You think about your biggest muscles, when you talk about calorie burn, you need muscle. That’s where that core and your upper legs, I tell you what.

Austin Wilson:

Well, and that is where people think that you can get in shape in terms of you can lose weight by a bunch of cardio.

Josh Robb:

No.

Austin Wilson:

You’re really going to do better losing weight with strength training. Cardio’s important.

Josh Robb:

Oh, yeah. It’s healthy.

Austin Wilson:

But strength training is really good because if you build those muscles up, your metabolism is better and all of those things.

Josh Robb:

Your muscles are all burning.

Austin Wilson:

Exactly.

Josh Robb:

Burning calories.

Austin Wilson:

So I try and do more strength training than cardio myself. But anyway, I love working out. I do it every day. Sometimes I don’t want to. So some workouts are better than others. But getting up and doing something is better than doing nothing.

Josh Robb:

That’s true. That’s what I always say.

Austin Wilson:

Even if you do some workout, you’re doing more than 90% of Americans.

Josh Robb:

That’s true. Well, not more than … wait, hang on.

Austin Wilson:

Statistically speaking, more than like 40% of Americans. So anyway, that is working out. We would just suggest go out and do something if you can.

Josh Robb:

That’s right.

Austin Wilson:

Most importantly, being financially fit, we would recommend is good, too. So stay tuned and we will hit you up with more episodes about financial fitness.

Josh Robb:

Yes.

Austin Wilson:

All right. Well, until next week, thank you for listening. Please remember, you can always share this episode if anyone was asking you about the fitness industry. Friends and family, we’d love it if you’d subscribe. You get new episodes every Thursday and leave us review on Apple Podcast and Spotify.

Josh Robb:

All right. Talk to you later.

Austin Wilson:

Until next week, have a good one. Bye.

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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.