Q&A: $850K in SpaceX Stock, Building a Barndominium & $50K in Credit Card Debt

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Feb 6, 2025

This podcast dives into the recent turbulence in the stock market and the importance of a long-term investment strategy. They provide insightful wealth-building advice for young entrepreneurs, highlighting practical side hustles. The discussion also emphasizes making strategic financial decisions, particularly regarding real estate and managing credit card debt. Additionally, listeners learn about the risks of home purchasing and the significance of diversification in investments, especially for those heavily invested in stocks like SpaceX.

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ADVICE

Teen Hustle

Focus on basic, physical side hustles that require little investment.
Undercut competitors with lower prices due to lower expenses as a teen.

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ADVICE

Tourist Town Opportunities

Find unmet needs in tourist areas by talking to local businesses.
Offer services or products that address those gaps, capitalizing on tourist demand.

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ADVICE

Construction & Land Loans

Explore FHA construction loans or construction-to-permanent loans for new builds.
Check with local banks and credit unions for competitive bundled loan options.

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Navigating Market Volatility and Embracing Long-term Investments

02:34 • 2min

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Wealth-Building Advice for Young Entrepreneurs

04:31 • 6min

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Building Wealth through Strategic Financial Decisions

10:14 • 21min

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Navigating Home Down Payments and Investment Safety

30:53 • 3min

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Navigating Home Purchase and Investment Risks

33:30 • 17min

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In this week's episode of the Rich Habits Podcast, Robert Croak and Austin Hankwitz answer your questions!

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❓ Ask us questions for our Q&A episodes – @richhabitspodcast on Instagram

📬 Inquire about working together – christian@witz.vc

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Disclosure: A Bond Account is a self-directed brokerage account with Public Investing, member FINRA/SIPC. Deposits into this account are used to purchase 10 investment-grade and high-yield bonds. As of 2/6/25, the average, annualized yield to worst (YTW) across the Bond Account is greater than 6%. A bond’s yield is a function of its market price, which can fluctuate; therefore, a bond’s YTW is not “locked in” until the bond is purchased, and your yield at time of purchase may be different from the yield shown here. The “locked in” YTW is not guaranteed; you may receive less than the YTW of the bonds in the Bond Account if you sell any of the bonds before maturity or if the issuer defaults on the bond. Public Investing charges a markup on each bond trade. See our⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠Fee Schedule⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. Bond Accounts are not recommendations of individual bonds or default allocations. The bonds in the Bond Account have not been selected based on your needs or risk profile. See⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠https://public.com/disclosures/bond-account⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ to learn more.