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- [00:00]
Austin Hankwitz
Hey everyone, and welcome back to the Rich Habits podcast, a top 10 business podcast on Spotify brought to you by Public.com today's episode explains how rich people buy back their time. My name is Austin Hankwitz and I'm joined by my co host, Robert Krok. Robert is a seasoned entrepreneur with lifetime revenues of over 300 million. And I'm a multimillionaire in my late 20s with a background in finance and economics. As the show name might suggest, every episode we talk about rich habits as they relate to business, finance and mindset. So, Robert, what are we going to be talking about in. In today's episode?
- [00:33]
Robert Krok
In this week's episode of the Rich Habits podcast, we're going to share with you the four ways rich people accomplish buying back their time, giving them the freedom to choose how they spend it. By the end of this episode, you'll have a clear roadmap that will allow you to integrate these strategies into your own daily life, helping you inch closer to a stress free lifestyle leading into retirement.
- [00:55]
Austin Hankwitz
Inch closer to a stress free lifestyle leading into retirement. I like the sound of that. That sounds cool to me. Now we'll have to remember, money isn't the goal. It's the tool people use to buy back their time. We can't take money with us when we're gone, so using it as effectively as possible to optimize our lives while we're still alive, AKA spending time doing things we actually enjoy doing is the goal. That's the end game, full stop. So strategy number one that rich people use to buy back their time is understanding the hourly return on investment on their time. Here's what I mean. We all know that working an hourly job pays a specific amount of money. And working a salary job, you can kind of compute and figure, figure out, okay, how many hours a week am I working? Right? What's my hourly wage? But what's the hourly wage you pay yourself? Do you believe that running errands or grocery shopping on the weekends? Or maybe the time you spend cutting your lawn? Or how much time it takes you to clean your house. Do you think that is time well spent? If you're ever going to be able to buy back your time, you first need to understand what your time is actually worth. We've all heard this, like, funny analogy where if Elon Musk dropped $100 bill on the ground, it wouldn't be worth his time to pick it up. Whereas if I saw a hundred bucks on the ground, am jumping for it. And the reason why it's not worth his time is because he makes so much more money making these important decisions for Tesla or SpaceX or Neuralink or Xai or whatever these billionaires do with their time. And speaking of Elon Musk, he's definitely going to be benefiting from our third strategy, so be sure to stick around and listen to that one. But it's really important to understand that if you're ever going to buy back your time, you need to understand what it's worth.
- [02:31]
Robert Krok
Yeah, and I want to give an example here. So if you spend five hours of your time and you generate $500 in extra income, it's clear that your time would be worth a hundred dollars per hour. So if you're able to hire out any of the daily repetitive tasks you're doing for 50% or less of your hourly ROI, that's when you have to make the change, because it makes sense to buy back your time. Unfortunately, I've not yet mastered this myself because I sometimes enjoy the slow mornings cutting my lawn or going to Home Depot to get supplies for one of the real estate projects. So for me, I'm not the best example here, but I'm definitely impro moving year over year to get better at it. But I just want everyone to understand the importance of at least understanding the ROI of your time so you can make those necessary changes. And also realize I don't have to be perfect at it at this point because I am in a little bit different position in my life where I'm working towards happiness and peace versus growing my wealth. And honestly, the most important takeaway from understanding the hourly ROI of your time is creating a life where you have systems and processes in place that reduce friction and headaches. You guys hear me talk about it all the time. I don't like friction. I hire accordingly and have the processes to make sure that everything goes smoother. Within all of my organizations, the less friction there is, the more I can get done in a day, but the better I can be at it.
- [04:04]
Austin Hankwitz
I love that equation you use, right? 50%. If it costs 50% or less, that's when it begins to make sense to go, go higher, Figure out that repetitive task. For me, it's cleaning my house. I've got house cleaners that come every single week. They're amazing. Shout out, Sylvia. But I pay them 140 bucks and they're cleaning my house. It takes about maybe two hours. And in my opinion, I'm like, wait a second. Oh my gosh. For 140 bucks, I can save what would be three or four hours of my time on a Saturday where I could go be doing other things or making money or building my business, whatever. So figure out for you what is that repetitive task that either you don't like to do, it's not worth your time, but understand what is the ROI on your actual time so you can go spend it doing something else.
- [04:42]
Robert Krok
I don't know that people really do this consideration in this math of what is the actual time value of every hour of their life. And I'm not saying you can't go have fun and waste time and sometimes lay around, but it's understanding the math. So you can hire out and get rid of some of those mundane tasks because you might want to do it just so you can golf or go boating more. Great example of this that a lot of wealthy people, including myself, is I don't grocery shop. I hire that out. I get it delivered, delivered, I get it brought out. And yes, it costs a little more, but at the end of the day, it's all about that time. I had this argument with my mother 35 years ago at the restaurant because she would drive to the Bakery to buy 10 loaves of bread for the restaurant. I'd be like, mother, for an extra $4, we can get that that bread delivered. And she didn't understand that. So I'm very cognizant of why and how I spend my time. And grocery shopping is one of them that I don't do. But there are many others where I try things simpler. So that leads us into strategy number two. Buying expertise from people who've already mastered their craft and made the mistakes. And no, we're not talking about the fake gurus or promise you millions of dollars from trading forex or meme coins. We're talking about getting true mentorship from industry veterans and accomplished thought leaders who have decades of experience doing the things you're trying to learn and succeed at. The goal here is to buy speed, and everyone needs to understand this, because why learn from your mistakes when you can learn from someone else's? For example, there have been plenty of times in my life and career where I was mentored by someone who better understood the numbers in real estate more than I did early on. So therefore helping me avoid all of the pitfalls losing valuable time and money in my first deal. But now, on the flip side, I now get the opportunity to mentor hundreds of thousands of people through my content. And even recently we published a PDF download walking people through 36 real estate hacks that I have learned over the last 20, 25 years of doing real estate deals. And I've also mentored countless small business people and people that are getting and building their own brands in the consumer products world because of my success and experience with silly bands.
- [07:05]
Austin Hankwitz
What I think is really important for people to understand about this specific strategy of buying back your time is you're not just buying the knowledge of what to do, right? You're not just buying the expertise and, and things of that nature, but you're buying the knowledge what not to do, right? Avoiding those mistakes, making sure that you are not doing something that royally screws up whatever process or, you know, goal you're trying to accomplish. So a recent example in my life here was I just bought a boat. Really excited. Been saving up for about a year now to go buy this boat. And it's my first boat. So I have no idea what I know or don't know about owning a boat. And so what I did was I reached out to several friends and mentors that have a better understanding of the do's and don'ts when it comes to owning a boat. Ensuring that when I finally bought this boat, I made the right decisions. Along the way, I knew exactly the type of boat, the type of engine, the types of different maintenance things to look out for to ensure that I'm not losing a ton of money on the back end because I didn't understand what I was getting myself into. So I just think it's cool for people to remember too that buying expertise is not just knowledge of how to do something better, but it's knowledge of what to avoid along the way. And this can be, you know, a personal trainer is a wonderful example of buying expertise. They're telling you you know, what to do to build muscle, but also what not to do so you don't hurt yourself when you're out or get over exhausted things of that nature. So the expertise is one of my favorite strategies.
- [08:28]
Robert Krok
What not to do is equally as important, if not more important as what to do. So such a great takeaway, Austin. Bring us to our next point.
- [08:38]
Austin Hankwitz
So strategy number three that rich people use to buy back their time is making money while they sleep. This one is super simple and also very straightforward. Rich people for the last several years and decades have planted seeds, allowing them to now make what we call mailbox money. Money. They get cash deposited straight into their checking accounts or their brokerage accounts because of investment decisions they made in the past. But don't feel bad if you haven't made any of these Investment decisions yet. We're going to give you three easy investment decisions you can make right now to start earning your own mailbox money, with the first one being to open and use a High Yield savings account for your savings. Now, we prefer the High Yield cash account paying 4.1% APY by public.com so that means if you have an emergency fund of 10, 15, $20,000 and earning pennies per year in a checking account or some other account, you need to move that over into an account that's going to pay you actual interest. I earned $169.12 last month on my savings because of my High Yield cash account on public.com and that's just for having my money sitting in the right type of account. I didn't do anything fancy. Now, number two, monthly income through NEOS funds. These are ETFs traded on the stock market. You can use any brokerage you want to buy them. Of course, Public Works, but Schwab and Robinhood and Vanguard, whatever, find them. They track the index funds we love while paying 12 to 15% yield per year on your money. I've got about $55,000 of my own money invested into these right now. My goal is to get it to 100,000 by the end of the year. And once I achieve that goal, I'll start making $1,650 per month in mailbox money paid right to me just for investing my money correctly.
- [10:23]
Robert Krok
And finally, number three is real estate. We like fundrise as a way for anyone to start investing into this asset class with little as $10. Their flagship fund is what we recommend and are invested into, and we're both in the green this year. They pay investors out on a quarterly basis, similar to stocks. But you're of course investing into a diversified asset class. Remember, mailbox money comes in many forms. It can be business ownership, crypto, portfolio income, like what Elon Musk does, only getting paid in stocks and not cash to run his companies. The key here is to start investing early and often. Stay consistent and as we always say, be diversified so you can start earning money while you sleep.
- [11:08]
Austin Hankwitz
And I just want to emphasize portfolio income isn't just the cash paid to you, but it's the value of your portfolio going up over time as well. So I'm up, I don't know how many tens of thousands of dollars this year in my own portfolio. But like, that's money that hasn't hit my bank account, but it is my net worth going up over time. Right? Right.
- [11:26]
Robert Krok
Let's get into our fourth and final strategy, the art of saying no. The word no is a complete sentence, so the sooner you learn that, the better off you'll be. Rich people say no to opportunities and experiences all the time because they've realized it pulls them away from their end game goals and they like to stay focused. This could be a business goal, a health related goal, a relational goal. It doesn't matter what you're trying to accomplish. Saying no to distractions will help you get there faster. The biggest takeaway from saying no is not falling victim to the shiny ball syndrome. For decades, I've watched intelligent, talented people struggle financially because they've not learned how to say no. And they lack execution on their goals because they bounce from project to project and continually waste their time and many times lose money because they can't stay focused on the winners and really see them through. And they bounce around way too much.
- [12:23]
Austin Hankwitz
I really like how we we kicked off this strategy. The word no is a complete sentence. It is no, I don't want to go do that. No, that doesn't help me. No, I don't want to do those things right. That's the easiest way, really. Anyone can begin to buy back their time. But a lesson that I've learned in my business and in my relationships, and maybe not so much in my health because I don't work out as much as I should, but a lesson I've learned over the last half decade in the things that I do is the word compounding and how important compounding can be. So instead of seeing a little bit of success with something new new and then getting expired, to take that and go start something else and then, oh my gosh, it worked. Let's go do another thing. Let's go start that new thing. Find the thing that works for you that you enjoy doing over a long period of time and just get 1% better at it every single day. And instead of taking all that time and inspiration and excitement to go start something new, go double down on what's already working in your business, in your relationships, in your health. Whatever you're trying to accomplish, whatever the theme is of that thing, consistently get better every single day about it. Compounding effects will take hold or after the first one to three years, and they can be glorious. So in summary, rich people buy back their time in four distinct ways. By understanding the ROI on their hours. By buying expertise from people who've already done what they're trying to accomplish by making money while they sleep, by owning equity and growing businesses and real estate and by saying no to distractions.
- [13:50]
Robert Krok
I really enjoyed putting this episode together because I think it's a really good blend of mindset to help people get on track, but then also strategy so people can really go, hey, wait a minute, do I need to make changes here? I need to better understand what my time value proposition is and really put themselves in a better position to be able to say no much more often.
- [14:14]
Austin Hankwitz
So before we jump into our Q A section of this episode, let's take a moment to hear from our sponsor, Masterworks. Get this Robert. Half of financial advisors are now allocating to alternative investments in strategies to manage their portfolio risk, and over 2/3 of millennials are investing in alternatives. That's over 67% of millennials have their money invested into things that aren't stocks and bonds. Now, two of the big reasons that these advisors are diversifying with alternatives is to reduce exposure to public markets and find alternative sources of returns. Now, of course, with alternative assets, there's a ton of different options out there. We actually just talk fundrise and real estate. But one of them that we are also invested in is fine artwork, the valuable paintings by iconic artists like Picasso, Warhol and Banksy. I'm not an art expert, but that's kind of the point. We've both been using Masterworks as an investing platform to diversify our portfolios into this asset class for five years now, and it's become so easy you don't even need an art history degree to do it.
- [15:16]
Robert Krok
That's right. Both of us invest with Masterworks, the sponsor of today's episode, and we've even interviewed their founder and CEO Scotland on the show. So make sure you check out that episode. With Masterworks, you don't need to spend millions of dollars to invest in multi million dollar art. They've offered investments in almost 500 works to date, with over $1.2 billion in invested capital. They've also exited 23 works so far, with investors realizing annualized net returns including 17.6%, 17.8% and 21.5% on those works held longer than one year. Excluding unsold works, over 1 million Masterworks users@masterworks.art rich habits, which is also in the show notes of this episode. As with any investment, past performance is not indicative of future returns. Investing involves risk sale returns are not inclusive of unsold works, and important Regulation A disclosures can be found at masterworks.com.
- [16:18]
Austin Hankwitz
CD so as a reminder, if you have a question to ask us, headed over to Instagram and DM us @rich Habits Podcast or send us an email at Rich Habits podcast gmail.com. we get thousands of questions every single week and we try and answer them on the show. So our first question actually comes from Instagram from Anna E. Anna says hi. I'm interested in learning more about house hacking and in researching my area. I live in Los Angeles. I found a duplex for $1.3 million. The owner however, is requesting an IRS 1031 exchange. How would that affect the purchase? Could I still use The Fannie Mae 5% down mortgage? Thanks in advance. So Robert, I'll kick this one off. The first thing I want to explain is house hack. House hacking, if you're new around here, simply means that you are living in a duplex, triplex or quadplex and you're renting out the other units. That just means that you literally go out and buy this multifamily property. You live in one of the units and you rent out the other units and you use the rent to pay for the mortgage. Normally house hacking can either completely pay for your monthly mortgage or really bring down what you owe to a couple hundred bucks, which is much better than a couple thousand like I'm sure rent can be in Los Angeles. Now we always talk about the Fannie Mae 5% down mortgage. It's essentially the easiest way for people to go buy a multifamily property. I believe the terms are it has to be owner occupied, which means you have to live in it as well. You can borrow up to $1.3 million and you can put down a 5% down payment and you get the mortgage assuming you have the right credit score and debt to income ratio, stuff like that. So Robert, why don't you dive into the specifics as it relates to the 1031 exchange? Maybe talking about first what that means and then two, does it impact her Prof. Process of getting this multi family?
- [18:03]
Robert Krok
The 1031 exchange is not going to affect you at all getting the Fannie Mae mortgage. One does not have anything to do with the other. And the 1031 exchange, what it essentially means if someone wants to sell a property, buy a like kind property, it could be of greater value or lesser value within 180 days. Then they don't have to pay the capital gains tax on the sale. That is essentially what the 1031 exchange is. So in this instance it will not affect you at all. It, it doesn't affect the purchase price as long as you qualify with credit score. I think the Fannie Mae Right now you have to have a 6:30 credit score or higher and you have the 5% down payment, you have the job verification. You will be good to go. And it is one of my favorite mortgage tools out there because it allows you so much flexibility. And for years, Austin and I have been talking about, we believe when someone is buying their first property, that house hacking is the best way to go because you're not burying yourself in debt and you're building equity. You have some tax benefits and it just makes your life better. Because when you are ready to settle down and buy the dream home, you've already got these other two, three, four doors that are going to make you income and build you equity for the future.
- [19:21]
Austin Hankwitz
That's a great answer. Now let's move on to our second question. Also on Instagram from ajf, AJ Says. Hey guys, I love the show. I got a question for the Thursday Q and A. I've outgrown my current home of about 1800 square feet and I definitely want to upsize for my growing family. The thing is, I have an amazing interest rate right now locked in on my current mortgage that I bought in 2017 and I have $150,000 of equity. I'm debating whether I should sell the home and use that equity as a down payment toward my next one. Or maybe I keep this property and I use it as a rental. Do you know, however, of any other creative strategies to recommend to upsize while making the most of my current equity and low mortgage rate? My current rate is 2.8% and I know I'm not going to get anything close to that nowadays. Thanks in advance, Robert. You want to kick this one off?
- [20:11]
Robert Krok
I would love to. I think you're in a great position. I personally wouldn't sell it with a rate like that, but the things you have to ask yourself are, is the property cash flowing? If you keep it as a rental, will you have positive cash flow every month? If the answer is yes, you just have to consider what that is. And then also you have to look at what is the capital appreciation year over year for that property. So let's say that the cash flow is 4% and the capital appreciation appreciation is 4%, giving you a total return of 8% year over year. I like it. Anything that's above a 7 I think is a great investment for you because some areas start to grow more and more which then increases your cash on cash return. So in my opinion, I would hold off selling it, turn it into the rental, keep that awesome mortgage even Though you have equity in it because that way you can really enjoy the benefits of the situation you've created with this property.
- [21:07]
Austin Hankwitz
So Robert, I've done a little bit of math behind the scenes here. So when AJ bought this house in 2017, the median single family home was worth about $312,000. So I'm assuming he's just a normal person. 1800 square feet sounds like about 300k to me back then. Which means his monthly payment, when you have principal and interest and some property taxes is about thirteen hundred dollars. Now the question is, can AJ rent out this residence for significantly more than that? So much more that to your point it cash flows in a meaningful way. Also to that point, will it also appreciate over a longer period of time? Which I would im imagine it will considering it's already appreciated by that 150,000 of equity. So here's what I would do. AJ if you need to upsize the house, the last thing I would want to do is get rid of this because this could be a cash flow machine for you for the rest of your life. 500, 750, a thousand dollars a month depending on what you can rent it for, which is a lot of money over a long period of time, especially if that money is then invested correctly into the markets. So in my opinion, I would figure out a way to save for a reasonable down payment on your next mortgage mortgage. But more importantly, know that whatever that monthly payment is isn't more than about 30 to 35% of your take home pay. Right? That's the back of the envelope math you want to be working toward because once it becomes 35, 45, 50% of your take home pay, now you're turning house broke and we don't want to do that. I don't care how bad you want a new house, you're going to stick around with the one you got, especially if Your mortgage is 1400 bucks or less. So I would say for a good down payment, maybe that takes two, three, four years. But at the end of the day, you're not sacrificing what could be a wonderful ca flow machine for the next several decades.
- [22:46]
Robert Krok
I couldn't agree more. And the only thing I would say in that window of three to four years that you mentioned is really be aggressive. Find a way to get that down payment as quickly as you can. So for your growing family you can get something that you really enjoy. But I just think you're in a great situation. AJ I wouldn't sell it either. I love the takeaway. From Austin. Keep it Find a way to get a side hustle, save more money, change your budget a bit, little, little bit so you can really set yourself up for the bigger home while not sacrificing what seems to be a really good investment.
- [23:19]
Austin Hankwitz
Now, before we jump into our last question from Rebecca, want to take a moment to hear from public.com if you're looking for an online brokerage platform that was actually built during the century, give Public.com a try on Public. You can invest in almost anything, stocks, bonds, options, crypto and more. And if you're like us and you keep that emergency fund like I talked about, you can take advantage of that 4.1% APY that's offered by their High Yield Cash account.
- [23:43]
Robert Krok
Discover why Nerd Wallet gave Public five stars for its ease of use and investment selection. Fund your account in five minutes or less and earn up to $10,000 when you transfer your investments over to public. And for a limited time, Public is offering a 1% match on all IRA contributions. So if you're finally listening and investing towards your Roth IRA this year, do it on public and earn 1% match on all contributions paid for by Public Investing and full disclosures in the podcast.
- [24:15]
Austin Hankwitz
Description so our final question comes from Rebecca J. On Instagram. Rebecca says, there's been many comments that I've seen recently about potential tax benefits from using an LLC versus just paying myself as a W2. Could you explain exactly how to go about that? And is this only for passive income LLCs? So Robert, I love this question from Rebecca. LLCs are super important. I'll let you kick things off with explaining what is an llc, why people open them, some ways they can save on taxes. And then I will come in at the end and explain how I'm doing my own LLC to save as much as I possibly can.
- [24:49]
Robert Krok
So probably one of the best pieces of advice I ever received was 20 some years ago from a lawyer when I was asking why the LLCs and the Revocable trust and the and all of these things were so important. And she said to me because you want as much layering as you can from your assets to anyone that wants to take them. And I know that sounds harsh, but it can be as simple as someone falls on your property and sues you and comes after your personal assets. That that is why LLCs are so important. Limited Liability Corporation by having that layering it gives you protection from prying eyes from people trying to come after your personal assets and gives you that layering that's necessary to Grow your wealth and really build that insulation to keep you out of trouble and out of harm's way. So for me, when it comes to real estate or businesses, I have a separate llc, LLC for every single business. To give me that proper layering. Then I have a holding company that sits on top of the LLCs and then a revocable trust that ultimately operates and owns all of the assets within. And the whole goal, as I stated, is layering and protection against anything that could happen where people could come after you. Personally, I see it all the time where people don't have things in LLCs, they have an unfortunate lawsuit happen, they could lose everything over a long lawsuit that could be curtailed if they had everything properly set up in these LLCs that we discuss.
- [26:26]
Austin Hankwitz
Yeah, having some protection through an LLC is super important. And as it relates to the tax benefits. So let's say you're a W2 employee at a company and your salary is $100,000. So what's going to happen here is that company is going to pay you $100,000 and every single paycheck that they pay you, they're going to set aside whatever that would turn into for federal income tax, for state income tax, on where you live, for Medicare and Social Security taxes. And then that's the money that gets deposited into your checking account. Now when it comes to an LLC, let's say for example, that does $100,000 a year in revenue because maybe you're a freelancer or you're selling a product or a service, something of that nature. You make $100,000 as top line revenue to this business. Now you go out and you're not paying taxes on anything yet you are now spending money on business expenses. If it is maybe Internet, like a home office expense per it is travel, perhaps it's equipment or things that has a purpose for you to generate revenue for your business. And then maybe that's like $20,000. Right now you have $80,000 of profit. And on that, 80,000 is what you pay taxes on versus the hundred thousand you would over here with a W2 job. Now we're literally comparing apples to oranges. Like there's no world where you would like just make 100k over here and then 100 over here. Like one's a real job and others a business. Right, with business expenses versus a real job doesn't have that. But like you guys kind of get what I'm saying here. You pay taxes on the profits after you spend the money on your expenses versus with your job or a W2 sort of payment option there. You pay taxes up front and then you spend money of what's left over to live your life or pay for things or things of that nature. Now here's what I've done, Robert, and anyone can go do this. Go. If you are now profiting more than 100 or $150,000 a year with your LLC, go convert your LLC to be taxed as an S corporation. Put yourself on a annual salary. Make sure that sal salary is a reasonable salary in the eyes of the irs. And because of that, you will pay those federal income taxes, Medicare, Social Security, things like that. But what that also now does is it allows you to take distributions from your business to your person and then those distributions are not sort of double taxed as they call it. You won't have to pay Medicare and Social Security taxes on that. Your business won't have to set aside taxes if it was just paid to you as a W2. So those distributions you just pay federal income tax on or state, I guess, income tax, depending on where you live. I'm in Tennessee. We don't have that. Robert's in Florida. He doesn't have that there either. I guess what I'm saying is work with a CPA and a tax accountant. That's going to help you structure your business in a way to optimize for taxes over a long period of time. Assuming you are doing 50, 100, 150,000 a year in profit in your LLC.
- [29:12]
Robert Krok
And a couple things to add to that that I think are important is number one, make sure that when you're doing all of this and setting these up, have a registered agent for the LLC that is not you. So many people make them mistake of having their own name and their own information as the registered agent for these LLC companies. Don't do that. Use your lawyer. Use someone that does not have the same last name as you because all they are is exactly what it says they are. Basically the person that accepts the mail for that company. And you want to have the anonymity by not using your own personal name. And then I would say secondarily, as Austin alluded to with the tax benefits of these LLCs, make sure you understand even if your company is new, it's a side hustle, you've memorialized it into this llc. You can still make and receive these tax benefits for the part of your home you work out of, for some of your car miles, for part of your cell phone bill, for your office equipment. All of these Things can be proportional write offs towards this LLC even if you're not yet making a profit. And like Austin alluded to make sure you don't fall victim to one very important thing and that that is you can start with a single member LLC and then change it to an S election, an S corp once you start making that 100 150,000 in profit. But you can't start as an S corp and migrate backwards to an LLC if you're not making the profit. So make sure you understand that before you go into this because a lot of these fake gurus will tell you to open an S corp and you need to understand you want to be consistently making that money and a lot of times the first year or two you don't know exactly what you're going to make. So start out with the LLC and then migrate to the S election later on.
- [31:01]
Austin Hankwitz
And then back to your point though about making sure that you've got the right write offs and you're doing those things, tracking those expenses. The easiest way, anyone that's a small business owner, a solopreneur, a side hustler, someone that has an LLC that's making money and also spending money for their business to bucket those expenses and keep track of their spending is to use the Xena card. This has been a game changer Andrew for my business, I'm sure Robert's as well. It's called Z-E-N A.com Xena card. I cannot express how awesome this card has been for me. Not sponsored, not nothing. It's just awesome. Go check them out. Robert. What an awesome, awesome episode. Right? Breaking down how rich people are able to buy back their time. Different strategies that our listeners can implement on a daily weekly basis to take a deep breath and really work toward retiring stress.
- [31:54]
Robert Krok
Yes, I love these episodes just because we can really figure it out. Personal finances, personal and everyone has different issues in their careers and in their wealth building strategies and we are here to give you the options and give you that USA moment to know that it's all going to be okay. We're going to help you figure it out. We're going to be here along the way. Whether you're in the Rich Habits network or you're following along the Rich Habits podcast, we are going to break it all down for you and we appreciate each and every one of you that stopped stops by week after week keeps us at the top of the charts. And always remember, if you enjoy the podcast and you get value, please share it with a friend. It just helps us grow. If you share with a friend, give that five star review. We really appreciate it.
- [32:39]
Austin Hankwitz
Well, speaking of the Rich Habits Network, if you are new around here, the Rich Habits Network is our community for our biggest fans. Right now we have about 650 people inside of it and I do that want to give a quick shout out to Jolin, Paul, Giselle, William, Andrew, Carrie, Courtney, Colin, Gianna, Katie, Frank, Frederick, Olivia, Sandra, Carey, Hazel, Austin, Joshua, J, Jason, Peter, John, Dane, Josh, Jake and Faron for all trialing the Rich Habits Network right now completely for free. They just said hey I'm go check this out seven day free trial, see what it's all about and I appreciate them for giving it a try. If you want to try the Rich Habits Network for yourself completely for free, join us for a two hour weekly live stream on Tuesday nights or invest alongside of us into pre IPO companies and all the real estate syndications we're a part of. Check the Rich Habits Network. We cannot recommend it enough. As always, thank you all so much for joining us on this week's episode of the Rich Habits Podcast and we'll see you on Thursday.