Navigating Current Market Volatility & Tariffs in 2025

Market turbulence is back, and with new tariffs shaking up global trade, investors are wondering... what’s next? In this episode, Josh, Austin, Tony, and Chase will break down the latest market volatility, the impact of tariffs in 2025, and what it all means for your portfolio.

We’ll cover:
 ✅ What’s driving current market swings
 ✅ How new tariffs could affect different sectors and global markets
 ✅ Strategies to stay invested and manage risk in uncertain times
 ✅ Why a long-term perspective is key to weathering market ups and downs

For the full transcript, show notes, and resources, visit thewealthmindsetshow.com/s2e8

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Chapters

• 1:02 The Current Market Correction Numbers
• 2:09 Why Is There Market Volatility?
• 7:19 Tariff Basics & Why There Is Market Concern
• 14:15 The History of Tariffs
• 17:01 How Do U.S. Tariffs Impact the Global Market?
• 21:39 What Investors Should Do in Volatile Markets

Transcript

You are listening to the Wealth Mindset Show, where Hixon Zuercher Capital Management’s team of finance professionals, portfolio managers, and a life coach come together to tackle complex topics in finance and retirement planning so you don’t have to. From investment strategies and wealth management to tax planning, retirement income, and aligning your money with your values and purpose, the Wealth Mindset Show offers the tools to thrive.

Austin Wilson:

All right. Hey, hey, hey. Welcome to the Wealth Mindset Show where our Hixon Zuercher team will have conversations on managing wealth, navigating retirement, and making smart decisions for a secure, meaningful future. I’m Austin Wilson, director of Investments at Hixon Zuercher Capital Management.

Josh Robb:

And I’m Josh Robb, director of Wealth Management at Hixon Zuercher Capital Management. And today we’re joined by our CEO, Tony Hixon and our other wealth advisor, Chase Rose.

Chase Rose:

The other guy.

Austin Wilson:

The other guy.

Josh Robb:

One of the other advisors. And we’re going to be talking about market corrections, what’s going on, what you should be doing. And we’re going to jump into it. Austin, he came prepared did, he’s got numbers.

[1:02] – The Current Market Correction Numbers

 Austin Wilson:

I got numbers. So, as you may have heard on the news, because lots of people listen to the news, everyone talks about the markets. That’s probably what you guys talk about when you hang out with your friends. That’s what I do anyway. The market’s down a little bit this year. As of the time of recording, the S&P is down about 8% from its recent all time highs. We were down over 10 and that’s what prompted this episode because 10% marks what we call a correction. So, anything… When you, on a closing basis anyway, close more than 10% from an all time high, boom, you’re in a correction all of a sudden. And we need to talk about what that means going forward and where we are today.

Tech stocks are actually feeling the brunt of this. They’re down a little bit worse, they’re down 12% now and they were down as much as 14. So tech stocks a little bit worse off than the overall market. Other areas of the market not as impacted, some more of the defensive plays. But the tech side of things, the more… Had a great run over the last couple of years, really down sharply right now. And ironically, bonds have really underperformed for many years now and they are, or for a couple of years anyway, of great stock performance while bonds are actually decently outperforming stocks this year and that’s a unique situation as well.

[2:09] – Why Is There Market Volatility?

Austin Wilson:

So the question you may ask is why are we in a market correction? And I’m going to give you two words that are going to answer that, US tariffs.

Josh Robb:

You started with one word.

Austin Wilson:

One word turned into two, but US tariffs and these tariffs have really come down from the White House as a response to what they call unfair trade practices around the world. And we’re going to talk about tariffs a little bit more, but it’s really the uncertainty that these tariffs bring that’s causing uncertainty in the markets. And the markets hate uncertainty because when there’s uncertainty, there’s a lot of unknowns that can happen one way or another and they like to see a steady clear path ahead. And we don’t necessarily have that. So that is where we are today. But any other thoughts on kind of what’s going on that you guys are seeing in the markets right now, the economy that could be driving this?

Josh Robb:

But one thing I want to point out is, obviously the tariffs are a big play like you talked about, but we did have two really strong years in the stock market and we know that at times when that happens, if earnings don’t keep up, you can get overpriced or overvalued stocks. And sometimes an adjustment like this helps bring things back into line. Is that some of what could have been happening too?

Austin Wilson:

Totally. I actually went into this year not knowing this was going to happen, but thinking, “Hey, we’ve had two years of 25% returns for the S&P 500.” That’s almost unprecedented for that level of returns a couple of years in a row. Valuations by any measure were lofty, especially given the fact that interest rates were much higher than they were a couple of years ago. So you go into this and you say… I told myself this going into 2025. It wouldn’t surprise me if we had a 10% correction at some point this year. I just feel like we need one because of where valuations are and how much the market’s run up.

Well at that point, when the market valuations are elevated, like you just mentioned, I think the market’s kind of looking for a reason to pull back and it doesn’t take much.

Josh Robb:

It needed an excuse.

Austin Wilson:

And it’s interesting because tariffs, as we’re seeing them today, they shouldn’t be a surprise, right? Because we were listening to President Trump in his campaigning for the last year, talk about how he was going to put tariffs on things. So, this really shouldn’t be that much of a surprise yet somehow the markets are spooked. I think the markets are using this as an excuse to right set expectations and get valuations back down to more reasonable levels. But you did bring it up, corrections, they’re fairly common actually, right?

Josh Robb:

Every year.

Austin Wilson:

Let’s talk about some statistics around market corrections while we’re on the topic here. Since World War II essentially there have been, almost 50, so about 47 10% corrections. That actually works out to about one every year or so of a 10% correction. And the average drawdown in a year is actually 14% anyway, going all the way back then. So if you think about what’s happening now, this is totally normal. It just doesn’t feel normal because we haven’t had this in a couple of years. And I think that’s what’s causing some concerns right now.

Josh Robb:

Yes. So you’re right in that normal is relative as well because we had two pretty low volatile years of upward movement with minimal drawdowns, and now we’re experiencing what historically is a normal movement in the market, feels different because you just haven’t had one in a little while.

Chase Rose:

That’s a great point you also made though about the low volatility the last two years. The markets were performing very well, but even when you look at the VIX itself is up over 50% year to date. So not only is the market-

Josh Robb:

VIX is a tracker of volatility.

Chase Rose:

Exactly. That’s a telltale sign of, Austin, you mentioned the market looking for a reason to pull back. And the fact that we’re getting this tariff information live, I mean we’re not waiting for some presentation or things like that. We’re getting live feed data and the markets are reacting very quickly, which is another recipe in there as well.

Austin Wilson:

So you mentioned the VIX, I think that’s a super interesting kind of fear risk indicator for the market. And you mentioned it’s up over 50% year to date on an absolute basis, but the interesting thing is that the VIX is only at historical long-term average levels right now. So we’re at 20 or something like that for the VIX. But those typically during bear markets, which is a drop of 20% or more, the VIX is much, much, much higher than we are right now. But we’re actually just at average levels of volatility. It’s just been so low for so long that I think investors were caught sitting on their hands, right? So they’re like, “Oh, it’s just going to ride and go up into the ride forever and it’s going to be really smooth.”

That’s not stocks, people. Stocks do have pullbacks. Pullbacks are healthy actually, and they prevent things from getting overdone. What this is actually causing I think is a little bit of panic in terms of investors that just hadn’t had volatility in a while. And if you look at surveys, so like the AI bullish, bearish indicators, surveys and stuff like that. All these sentiment indicators for markets, they are just tanked. They’re absolutely nowhere. And actually historically speaking, when sentiment gets that bad about stocks, it’s usually a pretty good time to get optimistic about stocks in terms of their go forward performance.

Tony Hixon:

So it sounds like you guys are saying that the main reason for the downward trend in volatility is because of tariffs. So let’s discuss what are they, if this is the major concern, what is a tariff and why are all the concerns about it?

[7:19] – Tariff Basics & Why There Is Market Concern

Chase Rose:

Well coming off of the inflation that we experienced in 2022, that was not fun for anyone. And in response to that, the Federal Open Market Committee started raising interest rates to levels that we haven’t seen in 20 years at that point. And while they did start pulling back on those rates the last couple of years, they have since paused. And so that’s one of the first meeting the Fed had post-election back in November. Essentially, they communicated to the world that they’re going to stop cutting rates because the economic data was looking really well and unemployment was just fine. It was well within the realm of where they want it, but also the tariff.

They were proposed at that point in time, but the potential of those tariffs being inflationary is there and therefore they pulled back their rate, cut estimates in turn, rates shot up, bond prices were impacted because of that, and also forward estimates for profitability. We saw the start of this pullback happen at the end of last year. I think we had a little bit of positive performance at the beginning of January, but it’s really continued since then.

Austin Wilson:

I think what’s interesting when you think about tariffs, so tariffs are essentially… So if a foreign country is shipping their goods, they’re exporting them to the US. The US is buying them, there are multiple ways you can do this. You can charge a tariff, which is an additional tax on top of those goods when they come to the US. That is one way that you can try and protect domestic production, try and control supply and demand, and these sorts of things. And other countries around the world, they do this on US goods too, right? And that’s one of the reasons that President Trump is instilling a lot of this is he’s saying, “Hey Canada, well they have 250% tariffs on our dairy goods going into Canada.

Why wouldn’t we have a 250% tariff on their dairy goods coming here?” That’s what’s called reciprocal tariffs, which is a common word that’s being tossed around in this whole discussion. So tariffs are added costs on those imported goods that we’re placing on based on where they’re coming from on top of the cost. It goes a couple of different ways there, but those are essentially going to be costs that have to be absorbed somewhere. Now there’s a lot of different philosophies on who absorbs the cost, right? Because from import all the way to the consumer, there’s a lot of people in the middle, a lot of companies in the middle, from distributors to suppliers to retailers, yada, yada, yada.

Well, a lot of those middlemen, they’re going to have some profitability hit of course. But a lot of prices, they may actually end up having some prices passed along to consumers. But at the end of the day, one thing that we talk about here in the office is the consumer still has the same bucket of money, right? So they’re still spending the same paycheck that they have, so they’re actually going to be forced, if prices do go up on some of these goods, their overall spending’s not going to change. They’re just going to have to pick and choose what they’re going to be spending on, and maybe they’re going to choose a domestic good over an imported good or something like that.

So one thing this is actually doing is we’ve had exceptionally low tariffs for coming down from the 1930s all the way to today. They’ve been down to the right overall. Very low tariffs for a long, long time, pretty much free trade around the world. One thing this is doing is kind of getting back to the way things were prior to the last recent history. And prior to recent history, tariffs were very common. There wasn’t free trade, but it was also, you pretty much ate what you made, right? So the countries that made their own food ate their own food. And we’ve gotten away from that with a very globalized trade system. So I think we’re getting a little bit back to that.

So yes, we think this absolutely could have some impact on consumer prices, but those prices are going to be a lot of the imported prices that are going to be increased. So to the way that supply comes online in the US, on US manufactured goods, maybe consumers will actually do okay and they’re just going to have to pick and choose what they’re buying. So I might have to cut back on my Perrier that’s imported from France and watch out. There’s going to be a tariff on there, but I might get my Great Value sparkling water and do just fine.

Chase Rose:

So it’s causing like a different type of inflation. Typically, the definition of inflation is too much money chasing too few goods. And that’s what we had in Covid, right? So the government put $5 trillion of stimulus money to work in the economy. We were all at home in front of our computer shopping on Amazon. Well, the issue was that there was nobody in the factory working and producing the widgets and supply chains were affected, ports were clogged, and that was way too much money and the goods just weren’t there.

So inflation spiked at over 9% in June or July of 2022. This is a different form of inflation in the fact that there is no stimulus money, we don’t have extra to spend, but prices will likely increase. So to your point, Austin, it’s going to be a consumer discretionary issue.

Austin Wilson:

Absolutely.

Chase Rose:

Where I may have to not buy that item, I’ll have to buy this one just because the price of that one is higher than the domestic good, which is really what this presidency is trying to do is make America great again, right? It’s the whole movement to in-source and onshore manufacturing and goods to the USA. So to drive prices down.

Josh Robb:

The problem with that is if we’re not making it, there’s not a quick turnaround to start making it. So there will be potentially a disruption in the interim. And I think during his State of the Union, he mentioned this kind of discomfort zone of there’ll be a time period-

Austin Wilson:

Adjustment period.

Josh Robb:

Adjustment, yes. A rebalance, but you can’t turn manufacturing on overnight if you don’t have the facility.

Austin Wilson:

And you can’t build a steel mill to have two years to build out.

Josh Robb:

That’s going to be the biggest issue because for how many generations has the US gone away from manufacturing here and become more the innovator in creation, but then outsourcing the actual production. And so there will be a potential shift. And I think Covid brought that to the forefront in that when supply chains get disrupted, you do want to be able to make things a little more local so that you can continue to have at least the essential things. So I know there’s been a push, especially for chips and the components that are very vital for a lot of our stuff to at least have some manufacturing closer to home to have that supply chain issue solved.

Austin Wilson:

I think that specifically when it comes to staples, like the foods that you eat and the toilet products and the paper and all that stuff that you just need and you consume all the time.

Tony Hixon:

Consumer staples.

Austin Wilson:

Consumer staple products, you need to have that domestically produced, but majority wise, because then you’re not tied, you can survive and limp along no matter what happens, but then you’re not tied to some trade issue causing you not to be able to get your product. So I think you’re right. I think coming out of Covid, we saw a lot of weaknesses in our globally tied supply chain, and some stuff has already been improved since then. Not to the point where we could completely go cold turkey and not import anything. We still shop on Amazon and buy things made in China all the time. Half the stuff I’m looking at is made in China, but that is something that I think has improved a little bit over time here.

[14:15] – The History of Tariffs

Austin Wilson:

So that’s certainly contributed to market volatility that we’ve seen so far, just as a brief history of the tariffs that we’ve seen. So like I said, long-term history says tariffs have come down in the last a hundred years or so, but around 1930 there was the Smoot-Hawley Tariff Act, and that was one act that raised US import duties to historically high levels much higher than they are even now and going to be probably here soon. But that actually hurt things and caused the Great Depression to be even worse because it really stifled the global trade that was already starting to grow at that point.

And that was a contributor to dragging that out a lot longer than it actually had to be. The next big tariff discussion that was had was really in the early 2000s, so about 20 years ago. And in ’02 the US imposed tariffs on steel imports. Does that ring any bells? Because that seems to be something we’re talking about a lot right now. And that’s again, aimed at protecting domestic producers of steel. It led to retaliatory measures and job losses and other sectors. And that’s one of the fears of what’s going on when you’re starting to have a steel tariff war with potentially Canada. Canada produces a ton of the steel that we use and their retaliatory tariffs could have an impact on us.

And actually, outside of even the steel market. And then most recently in Trump’s first presidency, we had a trade war with China where we were in his 2018, 2019. We’re talking about billions of dollars’ worth of goods. This ultimately disrupted supply chains overall. And there was a lot of negotiation back and forth with phase one trade deal, which kind of got enacted, but China didn’t hold up their end of the bargain, which is I think one reason Trump’s still kind of mad at them. And then he was working on phase two as he was exiting office after Covid. Covid kind of threw a wrench in all those discussions anyway, but that’s kind of the history of the US tariffs.

So a hundred years ago, tariffs were normal and they were very high, and then they’ve just pretty much come down slowly over time to almost nothing for the last 40 years. Have you ever thought about how your financial choices reflect what truly matters to you? At Hixon Zuercher Capital Management, we believe that integrating your values and dreams with your financial future is key to achieving peace of mind and confidence. When you engage in deep conversations with us, you’ll start to see how your money can support the things that matter the most in your life. Our holistic approach means that your financial plan is more than just numbers.

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[17:01] – How Do U.S. Tariffs Impact the Global Market

Chase Rose:

Here’s a great question that some of our listeners might not be paying attention to. Oftentimes as American citizens, we look at the stock market and we look at something like the S&P 500, NASDAQ, the Dow Jones, all those indexes. But I think tariffs impact markets well outside of the US as well. With the US being primarily a consumer-driven economy, we are importing so many goods that other countries are relying on for their GDP measurements. So how can the tariff conversation not only impact US stocks, but how does that impact the global market as well?

Austin Wilson:

I mean, it certainly impacts global markets. What’s interesting though is that this current tariff-driven sell-off, US stocks have suffered, international stocks have outperformed and outperformed pretty substantially, which is super interesting. And it’s not what we would have anticipated because we’re saying, “Hey, if there’s going to be a bunch of extra costs on those imports from you, we would imagine that that would be bad for you.” But actually because of years and years and years of underperformance in these areas of the market, they were so beat down areas of the market that first of all, valuations were very favorable.

So they’ve actually outperformed as of late. But secondly, it was like… If there was any spark of what it took to make people around the world, investors around the world not optimistic about the US, if they think the US looks bad because of our tariff policies, they’re going be more apt to put the capital that they were putting in US stocks and putting it in international stocks instead. And that’s kind of a shift that we’ve seen recently there. This does mean fundamentally some of these areas would be at risk.

China’s our biggest trading partner, so we are not anywhere level in terms of a playing field in terms of how much we’re importing versus how much they’re importing or vice versa. However, they’ve actually fared better from a market standpoint than we have this year. Other areas of this in the past have shown mixed results as well.

Chase Rose:

Sure.

Austin Wilson:

It just depends. I think every trade board is very different, especially this seems to be A, targeted to certain areas and certain products, but B, also not targeted because it’s kind of an overall look at our trade policies as a country in general. So it’s both narrow and specific where I think in the past it’s been one or the other.

Chase Rose:

Sure. And another point, I think if you truly believe in the efficient market hypothesis, you saw the sell off that happened in international stocks post-election. Obviously with Trump winning the election back in November. At that point, people were confident that tariffs were going to be a real thing in the future, right? And we saw an international stock sell off at the end of last year. And what we’re seeing in the beginning of this year, much of the discussion is between not your international developed countries like in Europe, but more so with Canada, with Mexico, and with China as well.

That’s primarily been the focus of the tariff discussion up to this point. I feel like Europe’s kind of taken a backseat to that discussion yet. Maybe you have more thoughts on that. I’m not sure, but I feel like once those plans start coming to light, we might see a little more volatility, but that we certainly don’t know at this point.

Austin Wilson:

One thing that’s interesting when you’re looking at election results to today, year to date in the election, very different results. So the election happened last November, US stocks ripped for a couple of months after that and international stocks tanked right? Since the beginning of the year, however, US stocks have tanked and international stocks have ripped. And actually if you look net-net, they’re both probably about where they were prior. It just happened in two very distinct buckets of how that happened. What I think that’s telling us is that the markets themselves don’t necessarily know how this is going to play out, right?

They’re constantly reacting to headlines over time and when markets are reacting to headlines, that is not necessarily, as we know how specifically President Trump negotiates, that’s not the final deal. That’s not what we’re going to end up with. That’s just kind of a bargaining token that he uses, and I think that’s what’s happening in the market.

Tony Hixon:

Sure. I think too, it’s important to get it in our minds that the Trump 1.0, the phase one, Biden didn’t roll them back.

Austin Wilson:

True.

Tony Hixon:

They stayed. So this is phase two. It’s not like we’re starting from scratch. We’re adding to, so the fact that it’s been this big of a deal is a little bit head scratching to me. It’s not like-

Austin Wilson:

At least for China.

Tony Hixon:

All kinds of crazy stuff. So we didn’t roll them back to zero. They’re just a continuation of what he started on his first presidency. But I would love to hear Josh as our Director of Wealth Management, what do you do? We sit across the table from clients who are experiencing their 401Ks decreasing by 10 plus percent. How do you help them stay calm in these types of volatile markets?

[21:39] – What Investors Should Do in Volatile Markets

Josh Robb:

And it comes back to really having a plan so you know what your objective is long-term, and when you have a plan, it makes it easier to not panic and not focus on these short-term disruptions. Because long-term, if I’m doing my job, which is saving the money, putting it where it needs to be, then the market over the long-term, historically, is a growing piece of the overall economy. And so if I trust that even though there’s short-term disruptions, that in the long run the market’s going to grow my investments, then I just have to sit through it. Don’t panic, focus long-term, and do my job, which is continue to save.

Like we’ve talked about before, when the markets are down, if I’m putting $10 in, I’m buying more shares because they’re cheaper. And so continue to add that money despite what the market’s doing or because of it adds more if you have the extra cash and then focus on what you’re invested in. There was a reason why you bought it to begin with. You don’t need to panic and change out if fundamentally things have not changed for your long-term, you don’t need to be micromanaging those little investments.

Tony Hixon:

I have a client who checked in yesterday and he said that he hasn’t opened his app in three months. Good for you, Matt.

Josh Robb:

Absolutely. If you know it’s going to cause some stress, avoid it. You don’t need to look.

Tony Hixon:

Just don’t look. You know something bad’s happening, don’t look at it.

Austin Wilson:

And if you have a long enough time horizon, a correction…. So we’re down 10%, right? A correction is not a bear market. Bear markets can be very drug out in terms of, in fact, 31-ish months is kind of how long it takes for a bear market to correct to get back to all time highs after going down 20. But it’s usually, three, four months less than a year even when a 10% correction gets back to all time highs. So if your time horizon is more than a year or so, you’re probably going to be just fine. And it’s not worth getting too freaked out about. Now, this may have a short-term impact if you’re planning on retiring in the next month or two, but not if you’re planning… If your time horizon is more than a year-

Josh Robb:

Even that, because I remind retirees all the time, not all your assets are needed in that first year retirement. So that’s the other piece of this is even retirees, you need to have a long-term horizon for that growth to counter inflation. And so you only need to be cautious. We talked about protecting against those bear markets by having some very conservative cash or some sort of very conservative investment to protect those short term. But that’s it. Everything else should be geared towards fighting inflation because that’s your biggest component to hurt your financial success is the growth of purchasing, right? It costs more.

My purchasing power has to grow to keep up with how much, eggs are $160 a dozen or whatever they are right now. The cost just keeps going up and I need my money to grow so that I can still afford the same things I did last year, but I need more money to do that. So that’s the thing to always keep in mind. I need to have a bucket for the short-term volatility if I’m drawing money out but I also need a bucket for long-term growth to counter that inflation for my year 20, 30 years from now.

Chase Rose:

I also think if you’re a retiree and you’re taking distributions from your portfolio, and maybe this market correction has sort of increased your anxiety levels about what your risk tolerance actually is. It’s a great conversation to have with an advisor because when we’re in a bull market like we’ve experienced the last two years, I mean, we have two consecutive years of 20 plus percent returns, right? It’s very easy to be bullish to have a higher risk tolerance when stocks are performing in that way.

However, when you have that first bull or that first bear market or that first correction, you can find out very quickly what your real risk tolerance is. Certainly you don’t want to make any significant changes when stocks are down. You want to allow them time to recover before you make any big changes. But it’s definitely a conversation you should be having with your advisor.

Josh Robb:

So as we kind of wrap up market corrections, that’s normal. There’s nothing unusual about it because the markets have to periodically readjust, get back to a more realistic expectation. Tariffs, that’s also normal in the sense that we’ve had tariffs at different levels throughout the history of the United States, but right now we’re just experiencing a little bit of a bumpy ride as there are adjustments for the market and the economy to kind of digest what’s happening.

And then the last one is don’t panic, stay calm, look forward, make sure that you have that long-term goal set to where you’re going, and it will help the short-term stuff kind of fade to the side because that’s not what you’re focusing on. You’re looking farther down the road.

Austin Wilson:

I think as Chase pointed out, this is not the time to make a rash decision that could ultimately negatively impact your long-term picture. So just keep a long-term time horizon there. Don’t let a short-term paper loss, maybe your portfolio is down 10% on paper right now. Well, don’t turn it into a permanent loss where you actually take that and turn it into cash and lock it in. Let those investments recover over time and they will. They always have. Past performance is no guarantee of future results, but we do know the markets heal over time and sometimes it takes time.

Chase Rose:

The loss is not real until you sell.

Josh Robb:

So the only risk you should be taking right now is how your bracket is playing out, right?

Austin Wilson:

That’s right.

Josh Robb:

Don’t go all number one seeds, right?

Austin Wilson:

Don’t go all number one seats or take Clemson to win it all and we get out in the first round.

Tony Hixon:

Like our colleague did.

Austin Wilson:

That’s right. Well, thank you for listening today. Hopefully this discussion provided some value to you and can let you rest a little bit and sleep at night in the current correction that we’re in right now. Don’t forget to subscribe to the show on whatever platform you’re on so you don’t miss an episode. Also, visit us at the wealthmindsetshow.com for more resources. And if you’re ready to invest with us, head over to hzcapital.com, check us out, check us out.

Josh Robb:

Check out who we are.

Austin Wilson:

Check us out.

Chase Rose:

Check us out three times.

Austin Wilson:

Check out who we are. And if you’re looking for an advisor, we’d love to give you a second opinion. Check out the Invest with Us tab there, and we’d also invite you to follow us on all our social medias. We’re pretty active there and we’d love to catch up. Until next episode, have a good one.

Josh Robb:

Talk to you later.

Chase Rose:

Thanks. Bye.

Tony Hixon:

Thanks. Bye.

Thank you for joining us at the Wealth Mindset Show where we tackle the complexities of finance and life planning to help you align your wealth with your values. We hope today’s conversation provided value and clarity as you navigate your financial journey. Your hosts work for Hixon Zuercher Capital Management and all opinions expressed by them or any podcast guest are solely their own 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.

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