Rich Habits Podcast

Q&A: Portfolio Adjustments, Starting an Ice Vending Business, When NOT To Use A 529

Oct 23, 2025
This Q&A session dives into starting an ice vending business and emphasizes building a strong financial foundation first. The hosts offer insights on using rental sale proceeds for home improvements and investments. They discuss the best strategies for allocating $300K from selling a property, highlighting tax-efficient investing. Listeners learn the pros and cons of 529 accounts compared to brokerage accounts for saving for kids' education. Lastly, practical side hustle ideas for college students steal the spotlight!
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ADVICE

Build Your Base Before Buying A Business

  • Pay off short-term liabilities and build a base before funding big side businesses like an ice vending machine.
  • Get parachute debt cleared, invest more monthly, or fund a hobby-specific side hustle rather than risking your base.
ADVICE

Prioritize Roth Contributions Early

  • Max out a Roth IRA and aim to invest 15–20% of monthly income as a priority for long-term growth.
  • Treat hobby spending as acceptable only after you secure consistent retirement contributions.
ADVICE

Convert Found Money Into Investments

  • Use found money (like one extra shift) to fund investments instead of cutting core spending drastically.
  • Automate that extra income into investments so it becomes long-term wealth, not short-term spending.
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