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Rich Habits Podcast

Q&A: I'm Stuck in an MLM, Tactically How to Start a New Biz, & Buying vs. Leasing a Car

Jul 18, 2024
Robert Croak and Austin Hankwitz answer listener questions on starting a new business, MLM struggles, and buying vs. leasing a car. They discuss index fund investments, building a $100,000 investment base, starting a courier business, maximizing Roth contributions, generating passive income, and financial tips for working from home.
54:48

Podcast summary created with Snipd AI

Quick takeaways

  • Transfer cash for full investment control, set aside profits for taxes, and choose index funds independently.
  • Leasing offers new cars regularly with lower upfront costs, while buying ensures long-term value and ownership.

Deep dives

Guidelines for investing when transferring funds to Schwab

When transferring funds from mutual funds of a shareholder service like Primerica into Schwab, consider selling the funds and transferring the cash to Schwab to have full control over investments. Set aside a percentage of profits for tax obligations and ensure a smooth transition to have autonomy in choosing index funds for investing.

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