92 episodes
Rich Habits Podcast Austin Hankwitz and Robert Croak
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- Business
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4.9 • 200 Ratings
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Introducing the Rich Habits Podcast — a financial literacy podcast for anyone ready to take back control of their money by implementing new habits.
Join Robert Croak and Austin Hankwitz every Monday and Thursday as they demystify the financial habits of the rich, share their own mistakes and shortcomings, and lay out the blueprint for you to succeed with money.
Robert is a decamillionaire with 30+ years of business experience and $200M+ of company exits under his belt, while Austin is an entrepreneur in his 20s eager to learn.
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Q&A: Austin & Robert's Worst-Ever Investments, War Time Investing, and Solo 401(k)s
In this episode of the Rich Habits Podcast, Robert Croak and Austin Hankwitz answer your questions!
How do the rich invest during wars?
What cryptocurrencies should I own in 2024?
What is the worst investment you've ever made?
Should I do a Mega Backdoor Roth Solo 401(k)?
How should I approach buying a new car?
Should I liquidate my Roth IRA to pay off credit card debt?
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Public has finally introduced options trading! To learn more about trading options on Public, click here.
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Save your seat for our Direct Indexing webinar (taking place May 8th at 4pm EST). You won't want to miss it!
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Austin's Solo 401(k) solution, Carry Money.
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Robert & Austin:
🧠 Learn more about Robert Croak
🤓 Learn more about Austin Hankwitz
📝 Download our FREE Budget Template
🚀 Download our 4-Module Video Course
💳 Find the Best Credit Card for You
❓ Questions: richhabitspodcast@gmail.com
🤝 Inquiries: christian@witz.vc
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Disclosures:
Options are not suitable for all investors and carry significant risk. Certain complex options strategies carry additional risk. Options can be risky and are not suitable for all investors. See the Characteristics and Risks of Standardized Options to learn more.
For each options transaction, Public Investing shares 50% of their order flow revenue as a rebate to help reduce your trading costs. This rebate will be displayed as a negative number in the “Additional Fees” column of your Trade Confirmation Statement and will be immediately reflected in the total dollars paid or received for the transaction. Order flow rebates are only issued for options trades and not for transactions involving other assets, including equities. For more information, refer to the Fee Schedule.
All investing involves the risk of loss, including loss of principal. Brokerage services for US-listed, registered securities, options and bonds in a self-directed account are offered by Open to the Public Investing, Inc., member FINRA & SIPC. See public.com/#disclosures-main for more information. -
61: Three Reasons the Stock Market Could Go Down in 2024
In this episode of the Rich Habits Podcast Robert Croak and Austin Hankwitz walk through three different reasons that could catalyze a stock market drawdown in 2024.
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Save your seat at our FREE webinar all about Direct Indexing, click here!
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Skip the waitlist and invest in blue-chip art for the very first time by signing up for Masterworks:
https://www.masterworks.art/richhabits
Purchase shares in great masterpieces from artists like Pablo Picasso, Banksy, Andy Warhol, and more. See important Masterworks disclosures: https://www.masterworks.com/cd
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Listen to Public's podcast, The Rundown, for daily updates on everything that's moving your portfolio and the economy.
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Learn more about Robert's Money Mindset Wealth Building Summit event taking place this weekend.
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Opt-in and share your email, click here!
Learn more about our 4-module video course!
Download our FREE Budget Template, click here!
To learn more about Robert: https://stan.store/RobertJCroak
To learn more about Austin: https://stan.store/austinhankwitz
Contact: richhabitspodcast@gmail.com -
Q&A: Putting $1.6M of "Dead Equity" to Work, Selling Single Stocks, and VYM
In this episode of the Rich Habits Podcast, Robert Croak and Austin Hankwitz answer your questions!
Should I keep my $18K in a HYSA or choose T-Bills?
What about SCHD and VYM?
I'm having trouble selling my single stock investments, what should I keep and what should I sell?
Should I take my new pay increase and use that to max out my employer-sponsored retirement accounts?
How do I approach talking about money with my girlfriend, and soon to be fiance?
I have $1.65M in 'dead equity,' what should I do?
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Important Events:
🎥 Register for our Direct Indexing webinar (4/24 at 4p ET)
📚 Register for the Money Mindset Wealth Building Summit
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Support Our Sponsors:
💰 Public has introduced options trading, get started!
🎧 Listen to The Rundown, Public's new daily podcast!
🛍️ Automatically buy stock where you shop on Grifin!
🤝 Explore Debt Consolidation Loans on LendingTree!
---
Robert & Austin:
🧠 Learn more about Robert Croak
🤓 Learn more about Austin Hankwitz
📝 Download our FREE Budget Template
🚀 Download our 4-Module Video Course
💳 Find the Best Credit Card for You
❓ Questions: richhabitspodcast@gmail.com
🤝 Inquiries: christian@witz.vc
---
Disclosures:
Options are not suitable for all investors and carry significant risk. Certain complex options strategies carry additional risk. Options can be risky and are not suitable for all investors. See the Characteristics and Risks of Standardized Options to learn more.
For each options transaction, Public Investing shares 50% of their order flow revenue as a rebate to help reduce your trading costs. This rebate will be displayed as a negative number in the “Additional Fees” column of your Trade Confirmation Statement and will be immediately reflected in the total dollars paid or received for the transaction. Order flow rebates are only issued for options trades and not for transactions involving other assets, including equities. For more information, refer to the Fee Schedule.
All investing involves the risk of loss, including loss of principal. Brokerage services for US-listed, registered securities, options and bonds in a self-directed account are offered by Open to the Public Investing, Inc., member FINRA & SIPC. See public.com/#disclosures-main for more information. -
60: What To Avoid When Picking a Financial Advisor in 2024
In this episode of the Rich Habits Podcast, Robert Croak and Austin Hankwitz share their three most important avoidances as it relates to finding and choosing a financial advisor in 2024.
High fee structure
Bad financial products
Lack of guidance and planning
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Ready to diversify 1-3% of your investment portfolio into fine artwork like Austin and Robert? Skip the waitlist and invest in blue-chip art for the very first time by signing up for Masterworks:
https://www.masterworks.art/richhabits
Purchase shares in great masterpieces from artists like Pablo Picasso, Banksy, Andy Warhol, and more. See important Masterworks disclosures: masterworks.com/cd
---
Important Events:
🎥 Register for our Direct Indexing webinar (4/24 at 4p ET)
📚 Register for the Money Mindset Wealth Building Summit
---
Support Our Sponsors:
💰 Public has introduced options trading, get started!
🎧 Listen to The Rundown, Public's new daily podcast!
🛍️ Automatically buy stock where you shop on Grifin!
🤝 Explore Debt Consolidation Loans on LendingTree!
---
Robert & Austin:
🧠 Learn more about Robert Croak
🤓 Learn more about Austin Hankwitz
📝 Download our FREE Budget Template
🚀 Download our 4-Module Video Course
💳 Find the Best Credit Card for You
❓ Questions: richhabitspodcast@gmail.com
🤝 Inquiries: christian@witz.vc
---
Disclosures:
This is not an offer of a security or investment advice. See important disclosures at masterworks.com/cd.
Past performance is not indicative of future returns. View all past offerings here. -
Q&A: How to Invest $700K, Bogleheads Strategy, and Diversifying Away from Real Estate
In this episode of the Rich Habits Podcast, Robert Croak and Austin Hankwitz answer your questions!
How do I put $800K of "dead equity" to work?
Am I invested properly as a college student?
Should I build a $200K ADU in my backyard?
How should I save / invest $7,800 per month?
Why don't you all implement Bogleheads strategy?
How should we invest a $700K windfall?
---
🎥 Register for our Direct Indexing webinar (4/24 at 4p ET)
📚 Register for the Money Mindset Wealth Building Summit
💰 Public has introduced options trading, get started!
🎧 Listen to The Rundown, Public's new daily podcast!
🛍️ Automatically buy stock where you shop on Grifin!
---
🧠 Learn more about Robert Croak
🤓 Learn more about Austin Hankwitz
📝 Download our FREE Budget Template
🚀 Download our 4-Module Video Course
💳 Find the best credit card for you
❓ Questions: richhabitspodcast@gmail.com
🤝 Inquiries: christian@witz.vc
---
Options are not suitable for all investors and carry significant risk. Certain complex options strategies carry additional risk. Options can be risky and are not suitable for all investors. See the Characteristics and Risks of Standardized Options to learn more.
For each options transaction, Public Investing shares 50% of their order flow revenue as a rebate to help reduce your trading costs. This rebate will be displayed as a negative number in the “Additional Fees” column of your Trade Confirmation Statement and will be immediately reflected in the total dollars paid or received for the transaction. Order flow rebates are only issued for options trades and not for transactions involving other assets, including equities. For more information, refer to the Fee Schedule.
All investing involves the risk of loss, including loss of principal. Brokerage services for US-listed, registered securities, options and bonds in a self-directed account are offered by Open to the Public Investing, Inc., member FINRA & SIPC. See public.com/#disclosures-main for more information. -
59: How to Generate Your First $1,000 of Passive Income
In this episode of the Rich Habits Podcast, Robert Croak and Austin Hankwitz share their simple strategy that anyone can implement regarding passive income.
The ETFs mentioned in the call include: SPYI and QQQI
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To check out Robert's first event, The Money Mindset Wealth Building Summit, click here!
To watch the webinar's replay, click here!
Download our FREE Budget Template, click here!
To learn more about Robert: https://stan.store/RobertJCroak
To learn more about Austin: https://stan.store/austinhankwitz
Contact: richhabitspodcast@gmail.com
Customer Reviews
The podcast I spent 1 year looking for
Finally- I found a financial podcast that is informative, interesting, and actionable. And it’s not run by a snobby a*hole with a condescending attitude telling you how stupid you are for not knowing this… no. Instead the hosts are real people who built their wealth and experience themselves over time, and they have genuine advice to share. Since I found this podcast I’ve listened to 1 episode a day and I’ve even changed up my budget and my debt payoff strategy thanks to these two folks. Cant recommend them enough, and thank you both so much for the work you’ve put into my FAVORITE podcast!
What to avoid in picking a financial advisor
Guys interesting podcast. I am a CFP for over 30 years and have multiple other designations. As well as a degree in finance and economics and an MBA in International finance. So credible. My concern with this advice is you really generalize and put out a bad vibe for our industry.
First true fiduciary managed accounts should not be using mutual funds that charge retail fees. There are institutional class funds that are very low cost and available to larger firms. Often these funds outperform ETFs in that sector.
As far as fees being charged on AUM. At least most CFPs include their Financial Planning and advice in the fee. Which an experienced CFP charges more like a CPA at $450/hour. Most clients get sooooo much more advice by including this in the AUM fee then paying separately for the advice.
The CFP has so much ongoing educational training and personal risk exposure. The cost of being in this industry is expensive. The client advice is invaluable and we are more of a financial coach in our clients lives.
In addition, most clients think they can do this stuff themselves in reality they tend to underperform markets in the long run and take tooo much risk. People love to hear about the money they can make but when markets fall they can not stomach the losses. Thus the risk is too high for their true risk tolerance. By the way that is how the advisors in our industry get sued. Soooo having a plan and be steady with returns that match their true risk tolerance and having diversified portfolios works. Behavioral Financial 101 and true Financial Planning.
Yes agreed alternative assets are a potentially a good investment for the right person. They carry more risk.
In general I follow your podcast. Good basic advice. My son sent it to me. I am glad to hear what youger generations are thinking and hearing.
Included in My Weekly Routine
The Rich Habits Podcast is a valuable resource for anyone looking to improve their financial discipline and overall success in life.
Listeners can expect to learn about the importance of cultivating rich habits, such as goal-setting, continuous learning, and disciplined financial management, as well as strategies for overcoming common obstacles and achieving long-term success. The podcast also features interviews with successful individuals from various industries, providing valuable insights and real-world examples of how to apply rich habits in practice.
Overall, the Rich Habits Podcast is a must-listen for anyone seeking to transform their habits and mindset to achieve greater success and fulfillment in life. Whether you're looking to improve your finances, advance your career, or enhance your personal development, this podcast offers actionable advice and inspiration to help you reach your goals.