A (2:41)

Generated assets are like ETFs with infinite possibilities, completely customizable and based on your thesis, not someone else's. So go to public.comrichhabits and earn an uncapped 1% bonus when you transfer your portfolio. That's public.com rich habits.

B (2:58)

We love public and paid for by Public Investing. Full disclosure in the podcast description so Austin, let's get into it.

A (3:05)

So our first question comes from Chris C. On Instagram. This is a really good one. Chris says. Hey guys, I love your podcast. Always clear and insightful advice for your listeners without going into too much depth about my personal finances. My wife and I, we have two daughters dream of owning a vacation home in the next three to four years. I'm 37 years old and starting to do pretty well financially. We're maxing out our 401ks and contributing heavily to index funds and some cryptocurrency. As a general rule of thumb, what financial markers or milestones would you like to see for a family or anyone prior to purchasing a second home? I know it's a broad question with many factors involved, but any rough idea would be really insightful. Robert, you want to kick this one off?

B (3:49)

Yeah, I would like to kick this off. This is a great question and it really brings up the thought don't put the card ahead of the horse. So I would say just as a general rule in this situation with your ages, I say would I would want to see you have at least 250k not to be touched by the purchase of this second home, up and running and working in all of the accounts that we talk about with the 401ks, the traditional bridge account, and then whatever else you're doing to diversify into cryptocurrency or precious metals or whatever it may be. Because I would hate for you to see Maybe you have 150,000 saved and invested between all those accounts and then you take 50 of it out or 100 of it out to go buy the second home. If you really have dreams of the second home, I would just try to delay them enough to where you can set aside and build a nest egg specifically for the second home without touching the 401ks or going into any consumer debt to buy the furniture for the second home or do any of that. That would be my take and I think for me I would like to see that bottom line, that threshold be somewhere between 250,000 and 500,000 of saved and invested cash flow that is building for your future. Before you go buy that dream home.

A (5:05)

I think it's a great start. My framework is as follows. Whenever we go out and earn money and start investing that money, we are investing that money so that it can grow so much that our portfolio income can completely offset our monthly expenses. Therefore, we are financially free and have, you know, the opportunity to choose not to work. So that's like broad framework, easy. We all know why we're investing now. So to go buy a second home, you essentially are having to weigh the opportunity cost of investing more money on a monthly basis or using the money you would have invested to pay a mortgage on a second home, which is totally fine. To go pay that mortgage on a second home. Just make sure that you're still investing 15 to 20% of that take home pay toward your retirement. So that's going to be my like general rule of thumb. If you can afford, afford a mortgage on a second home while also investing 15 to 25% of your take home pay, that includes 401k, that includes Roth IRA, that includes, you know, HSA things of that nature, things are going to grow in your retirement accounts. If 15 to 20% of your monthly take home pay is getting invested just fine and you still have money left over to afford a mortgage on a second home. Rock and roll. Have fun. You deserve it. You're rich, right? You figured it out. Now there's two ways that you can afford that second mortgage. The first way is you have such a large down down payment on that mortgage that the monthly payment of it is very small or you just make a ton of money. Either way it seems like you're doing very well financially. So maybe it's the second, maybe it's a mix of the both. But that is my like I would not buy a second home at the expense of, of like pulling back on my retirement investments. Like that's, that's the black and white line for me there, right? I want to make sure I'm still doing 15 to 20% of my take home pays getting invested. You mentioned you're maxing out the 401ks index funds, Bitcoin, rock and roll. That way if you can afford 15 to 20% and that's a very consistent, easy marker to hit every single month while still being able to afford a second mortgage, right? This dream home mortgage, then rock and roll. You deserve it. Congratulations, Chris.

B (7:09)

I think that's an incredible breakdown and I really like the tactical part of you're not buying the second home in lieu of investing that 15 or 20% every single month. So I really love how you put it as an either or because you got to keep investing and if you have money on top of it and you really want the dream home, then I really like that breakdown.

A (7:29)

Yeah, I think, you know, it kind of reminds us of the freedom number concept we've talked about a lot, which is like, how much money do you need invested by a specific age, growing at eight and a half, nine and a half percent per year, adjusted for inflation, to have a two or three million dollars nest egg by the time you're 65? And for some people, you know, this is called, I think, Coast Fire, where they like invest a lot of money, you know, by their 30s or 40s, call it 500, 700, a million dollars, and they stop investing completely because they know that money is going to double every seven years. So they'll have millions in retirement. Maybe Chris and his family are doing a Coast Fire thing. Maybe they've, to your point, Robert, have hundreds, if not, you know, well over a million invested now and they're ready to kind of maybe take the gas off. There's a lot of different ways to think about it, but at the end of the day, Chris, I would not stop investing. I think that's the biggest key to long term success from a wealth building perspective.

B (8:24)

And I want to add one more thing to that because we're talking to my doctors a lot lately and doing a lot of research on longevity. We are going to live longer with all of the modern medicines and technologies. So everyone listening this podcast, please realize what worked 20, 30 years ago isn't going to work 20, 30 years from now. So you really want to get ahead of this and make sure you're building up those retirement accounts. Because assuming if we live 20, 30 years longer than we normally would in the past, we have to prepare for that and really adjust our savings rates and investment rates to prepare better for the future.

A (9:01)

So our next question comes from Alice S. On Instagram. Alice says. Hi, Robert Austin. My name is Alice. I moved to the US two years ago and I'm 27 years old. I have $30,000 in savings and I work as an office administrator. Ear $3,000 per month. After rent and groceries, I'm able to save about $1,500 every month. I'd really like your guidance on where to start investing my $30,000 for long term growth. I don't have any debt and my Employer also offers a 401k. I recently completed my associate's degree and plan to attend university in fall of 2026. Before moving to the United States, I earned a bachelor's degree and have five years of accounting experience in my home country. I'm currently rebuilding my career here with the goal of returning to accounting and long term I hope to become a cfo. Really appreciate any advice or direction you can share. Thank you for the great content. You've been a big inspiration. Thank you so much for the kind words, Alice. So here's my perspective. You want to go be a cfo. That means that you are accounting. That is your thing. You're a cpa. You've been doing accounting for several years, if not decades to go be a cfo. You mentioned you've got a associate's degree and you want to go back to school fall of 2026. You also mentioned you have a bachelor's degree and you have five years of accounting experience. So I'm thinking you didn't mention this, but I'm assuming you're going for like a Mac program, a Master's in accounting program. We had something like that at the University of Tennessee. I think it's like an 18 month program. So I call it like three or four semesters there. So maybe that's what you're doing here so you can go become a cpa. I think it's a great idea. I hope that's what you're doing. Maybe. I hope you're not just going back to school to go back to school. You asked about how to invest the 30,000, max out the Roth IRA index funds and ETFs, start up the Bridge account on public.com index funds and ETFs. But more specifically, I would also ensure you've got about 10 to 15,000 of this 30 sitting in an emergency fund. Because with school maybe you gotta go buy some coursework. Maybe there's something you gotta go on a weird trip for. Got like there's things that could pop up. And the last thing we want you to do, Alice, is to have to swipe that credit card and go into high interest debt when you have the cash right here. It'd be a really cool situation if in 18 months from now you have your master's degree in accounting, you can go work at a, you know, accounting firm. After a short period of time, you get your certified public accountant CPA designation. Then you can start making 80, 90, 100, 150,000 thousand a year, work your way up from there to be a cfo, I think that's sort of where you're going. But if you are not going back for like a Mac program, really encourage you, and we talked about this recently on the show, to weigh your options of what you're going back to school for and how much debt you're going into and if that job's still going to be here in five or 10 years. With the rise of AI, I would argue that CPAs and accountants and tax strategists are going to be needed for a very long time. So I think that's a fine career. I still pay my accountant a whole lot of money. AI hasn't replaced him yet, although I'm sure he's, you know, he's been. Business is turbocharged with AI which is really cool. But just make sure if you are not going back for accounting for some reason here, make sure whatever you're going back for, you're being very, very intentional with what you're studying.

B (12:06)

The only thing I can really add to that, Austin, that was a really thorough breakdown would be, I love that she's thinking long term. I want to become a cfo because that is a long term strategy. You're not going to get this degree, have two years experience as a CPA and get a CFO job. So you might have to take a couple positions within companies throughout the next five or 10 years to build up that resume, show people what you can do, and really have something to look back at to build up to that CFO role. So I really like how you're thinking long term and you're putting all the building blocks in place. And like Austin said, I think the 30,000, exactly what he laid out is a perfect plan.

A (12:45)

Also, you moved to the United States. Welcome. So cool that you're here and you're crushing it and we're rooting for you. That's awesome. Congratulations. And it's awesome how much money you're saving every month too. 1500 bucks. That's incredible. So our next question comes from Jace. L J says, hi, my name is Jace. I'm 18 years old and was just in a car accident and I'm going to receive 750,000 to a million for my pain and suffering. What would you do to guarantee future success? Robert, you want to start this one off?

B (13:13)

I would love to start this one off. I would say the first thing jce L would be, don't tell everyone, please, please don't tell your friends, your family, your cousins. Don't tell everyone you have all this money because they're going to find a way to relieve you of it. They're going to need loans, they're going to want you to invest in a business. They're going to do all these things at 18 years old, even if you invest 80% of it and do stupid things with the other 20%, you will be a multi, multi millionaire by the time you're 55 or 60 years old, if you do it right. What does that look like? Well, first and foremost, with that amount of money, you're going to want to sit down with a financial advisor, someone that can really lay the groundwork. You're going to want to get your Roth IRA set up right away, your traditional brokerage account set up right away. You're going to want to get a high yield savings account for your emergency fund and you're going to keep your mouth shut. Because the problem is if you don't have a plan with this money, you're going to leak it away. You're going to buy a new car, then you're going to want to jet ski. Then in two years you're going to go, oh, I'm going to go invest in this duplex with Billy. Don't do those things. Put this money away and pretend it doesn't exist. Do not level up your lifestyle every step of the way. Because if you do, in five to 10 years, this money will be down to nothing and you'll regret it. Because it's really hard in life to ever have $1 million all at once. And if you play it right at 18 years old, you'll be a very wealthy person later on if you do nothing else right the rest of your career.

A (14:41)

Yeah, that's incredible advice, Robert. I think, and maybe you disagree, but I really think this is important. This might be the perfect time where it's okay to pay a one to one and a half percent management fee to a financial advisor to really keep your head straight. Right. Like we always talk about, like, oh, just invest the money on your own. Like you have to go pay, you know, a fee to advisor. Just put it in the S&P 500, which is like true. But you're 18 years old. I'm not going to assume that you have a background in finance, you understand the stock market, you're young. I remember when I was 18, like if you gave me a million dollars, oh my goodness, man, I'd be gone in a heartbeat. So like Jace, this is a wonderful opportunity to find a financial advisor that's going to take you under their wing and really teach you how to build wealth with this money. They're going to put you in index funds like The S&P 500, the NASDAQ, the Dow Jones Industrial average. You might hear some chatter about international. Maybe a little bit of chatter about bonds as well. That's all good. That's all fine. Just literally, your goal here is to not lose the money by the time you're 30. Because to Robert's point, your buddy Billy is going to hit you up and say, dude, let's go buy a car wash. Or, dude, I just saw you could get a. They got these vape ATMs now at these bars and they're making all this money. I just saw this guy make a video about it. They're making 60k a month. Let's go spend 100 grand. Forget it. Don't do any of that stuff. Jace, you will be so, so rich in your 30s, 40s, 50s and 60s if you play your cards right here. And this is one of those scenarios where you need to have experts in your corner that are going to be able to teach you and guide you. And those experts do charge a fee, but that's okay in this situation. In my opinion, it's okay to pay a small fee knowing they're going to keep all your money if you do what they say versus lose a majority of it if the emotions of a teenager take over. So that's my big takeaway. I'm really sorry to hear about the car accident you were in. I could not imagine how much pain and suffering you might be going through in order to receive so much money. So, again, I'm really sorry you had to go through that. But hopefully some of this money is going to help you get around that and move in the right direction.

B (16:48)

I love that takeaway, Austin. And I think it's smart because as I stated, take the yoke off of your brain, your shoulders, the stress of that much money, and put it in the hands of a trusted advisor. And I want to tell one quick story because it is very relative. My girlfriend, many, many years ago, this would have been probably 35 years ago, she got in a car accident. She received $45,000 in her settlement. And we met, went and met with Tim Croak from Croak Capital. And he said, don't touch this money. Don't do anything dumb with it. Do this and by the time you retire, you'll have a million bucks. She went and bought a Cordoba convertible, Spent all the money on this car. It lasted about Five years. And it was a very depreciating asset and worth nothing. And she never invested any of the money. So don't do that for anyone getting these big chunks of cash. If something terrible happens, realize it that at least the money, the pain and suffering can set you up for future success if you do the right things. So, Jase, we wish you the best, and we're sorry you went through that, but so happy. And hopefully you listen to what we're saying.

A (17:55)

Yeah, I want to linger on this a bit longer. Money magnifies people. If you were a jerk, Jace, your whole life, now that you have this much money, you're going to be even a bigger jerk. If you were a very nice person, and you are a nice person, all this money will make you even nicer. But it also helps you understand the motives of people around you. And sometimes those people that show you who they really are are your family. I'm not saying that your cousin or your aunts and uncles or your parents or your brothers or sisters or anyone like that are bad people. But this is your money. This is not their money. It's okay to help people you love. I help people. I've helped a lot of people that I love since becoming a multimillionaire. But you have to put yourself first. It's your money. This is what you deserve, and you have a future. You know, we talk about this all the time. Whenever a plane's crashing and the things, the. The masks come down, they say, put your mask on before you put on your neighbor's mask, right? So, like, jace, put your mask on. If you want to go, put on someone else's mask and help them, whatever. Like, you got to make that decision for yourself. But this is your money. This isn't their money.

B (18:57)

100%. And he's got to remember he's 18 years old. A lot of these people, they're going to come in and be his best friend over the next five, 10, 15 years, asking for money and for him to invest with them. They're not going to be around when he's ready to retire. So you got to remember, no one's going to be there to save you. And you can save yourself right now if you listen to what we're saying. Invest this wisely and just don't touch it. It's kind of like the old rule, Austin. We see all the time that people that win the lotto generally go broke within three, four years because they just go, I have all this money. And they go, blow it. And they don't set themselves up for the future. So, Jase, I hope this helps and anyone else listening that's in this situation or may come into this situation, please listen to this advice. It's very sound. It'll help you along the way.

A (19:42)

Speaking about getting help along the way, you know what's really helpful? Robert Using Generated Assets if you're just trying to figure out how to invest in something you believe in but you don't know where to start, on public.com, you can go type in a prompt. A prompt like invest in companies whose CEOs are from other countries, like our friend Alice here, or who CFOs There you go, Alice. Invest into companies whose CFOs have migrated to America and have become CFOs of publicly traded companies. Like, that's a strategy that anyone can just go build right now in public. They'll find exactly the companies that have that and they'll invest into those companies on your behalf. You can come up with any prompt, any idea that is interesting to you, and get your money invested toward that strategy automatically. Easy. Super fun with generated assets on public.com so please go check out public.com rich habits. Go transfer your portfolio over to Public and earn an uncapped 1% match on your whole portfolio. That's awesome. Free money. I like free money. Robert so again, public.com rich habits I.

B (20:47)

Think the coolest part about generated assets is that it back tests against the S&P 500 to see if it has outperformed what we call the building blocks, which is the S&P 500. So I think it's really cool because you can literally, like Austin said, type in anything you could say, I only want to invest in female founders of tech companies from outside the United States. It will build a portfolio and give you the idea and the building blocks of what to do with it. So we love generated assets. It's a great tool from public, so make sure you check it out.

A (21:18)

Our next question comes from Amaka M. On Instagram. Amaka says, my husband and I are facing a dilemma. We own a fully paid off home in Pennsylvania which is currently valued at about $188,000 according to Zillow. We just purchased another home in Texas. My question is whether it would be wise to sell our paid off house and use the proceeds to reduce the mortgage on our new home or if we should keep it and rent it out instead. Our monthly mortgage on the new house is $2800. While we estimate we could rent out the Pennsylvania house for about $1,700 per month. However, we distance from our Pennsylvania property to our new place here in Texas. We worry that being so far away might make it very difficult to manage the house and could lead to higher costs. What do you all recommend? Robert? I'll let you kick this one off.

B (22:06)

This is a very tough question, and I love it. I don't know the exact answer, because if you think about it from one perspective, if they keep the house, they get the rental income of 1700amonth, approximately, but they also get the capital appreciation, which is probably 4, 5, 6% a year. So you've got that income over there, which then if they sold it, they could offset the mortgage. But they would have, depending on the situation, if they bought it together or when they bought it, they would have some capital gains to pay. Well, they might not have that either, though, because they'd be able to take the deduction. This is a tough one. I think it would depend on their income and where they're at from an income perspective. So help me understand Austin. What you think the difference would be is if they kept the higher payment on the new home and then use the rental income as investment capital of how you think it would outperform one versus the other. Because we also have to take into consideration if they kept the house, they would have the capital appreciation. So it's a. It's a very tough situation. I guess I'm leaning towards selling the house, taking the money, paying down the newer house to keep your mortgage cheaper. As long as you're going to look at the difference in that lower mortgage payment, that you would invest that regularly, then I think I would sell the property. That's my takeaway.

A (23:27)

Yeah, I don't think there's a right or wrong answer here. I think I'd keep the property because if you find yourself a decent property manager, go find yourself a good handyman. I mean, you have this home. I'm sure you guys live there like you just, you know, so you probably know some people in the area. You probably can find a decent handyman or, you know, again, that property manager, assuming you set aside about 500 bucks a month for future expenses and things that are going happen, like, you know, like a water heater, a new roof, plumbing mishaps, electrical things. Right. That's still $15,000 a year of cash flow before taxes. Now, assuming effective tax rate of maybe, I don't know, 22%, we're talking about 13,000 a year or about 1100 dollars a month on that 1100 dollars a month. If you take that and you invest it in the s and P500 and it grows at 9%, which is adjusted for inflation. We're talking about $700,000 in your account after 20 years. So this money is now worth 700,000. And then we fast forward 20 years. What's the home worth? I'm sure multiples of the188 it's worth right now. And you know, I don't know, I mean, again, to your point, Robert, you could sell it, you could do whatever. I don't think there's a wrong answer here because you're thinking about this correctly. The smartest thing to do is whatever you choose, make sure that you are investing. The windfall, the difference, the cash flow, whatever's happening here on a monthly basis, I think keep it, I think, you know, cash flow, 1200 bucks a month, pay your taxes and then invest that, let's call it, you know, 13, 14, $15,000 a year in the markets. Let that grow into several hundred thousand dollars over your lifetime. And now you've got a paid for house that could be worth 300, 400,000, you know, in 20 years from now and you're good to go. I mean that's, that's a million dollars right there. So our next question comes from Trent. Trent says. Hey guys, I've been listening to your podcast for a while and I'm a huge fan. This year I'm trying to invest a hundred thousand into a brokerage account. From zero. I'm mainly investing into Voo and QQQ to build my base. I'm 28 and I'm based in California, working a blue collar job. My salary is 140,000. Before overtime, I have CalPERS pension, 50,000 invested into my 457B, 1300amonth and sitting on 140,000 in a high yield savings. My question is, do I have too much money in a high yield savings? Because I was planning on purchasing a home within the year, depending on the housing market, but know that my money could go way further. Investing in the stock market. Should I allocate half the money in my savings to the stock market and then try and buy a house with the remainder? Should I use the full 140 to try and buy a house? What do you guys think?

B (26:08)

I'm going to give you the easiest plan here to implement right out of the gate and make it super simple on you. You're going to take a hundred thousand out of the high yield savings account. You're going to put that into the brokerage account. Hopefully it's going to be Roth and traditional. You're going to get the Roth IRA maxed out. The rest is going to go into the bridge account. You're going to get the Voos of the world and the QQQs and your base is built. You're going to keep the 40,000 in the high yield savings account. Let that keep rocking and rolling as your emergency fund right now. And you're going to put off buying a house for one to two more years so you can get a little more money under your belt. So you're not going backwards when you buy the house. Because we always want to see everyone have at least 100k base built and invested and not dip into that to buy a home. That's the plan. That's what I would do. Austin, what's your take?

A (27:00)

I think at 28 years old, if you wanted to go buy a house house, you do it in a very responsible way, which means you don't just go buy a single family home, live there by yourself and it's sucking money out of your bank account every month. What you do is you buy a three bedroom and you rent out the other two bedrooms. And those two bedrooms being rented out probably helps you cover 70 to 90% of the monthly mortgage payment. And you are now living almost for free while getting some capital appreciation on that single family. Or you can do the duplex thing and do some house hacking. We've talked about that in the past. I think whatever you end up doing here, the biggest takeaway is that you've built your base before you do it. What Robert said, you're making great money. You've got 50,000 in a 457B that you're adding 1300 bucks a month to. You've got 140,000 here. So if you want to go take 50 of that 140 and you know, get that invested, actually invested, so you've got that 100,000 base and then use the other 90 to go try and get something. Actually, no, you need an emergency fund. So let's call it. You're using 70, right. So you still have 20,000 for an emergency fund. Right? That, that could be smart. But at the end of the day, you do have to buy some property in your life. If you're really gung ho on buying that property, just make sure you're buying it in a responsible manner where you're not leaving a lot of money on the table to have it suck you dry with the Interest and just to live there, I mean. Oh, don't even get me started on interest. I've paid in the house I'm sitting in right now. It's disgusting. It's not adding, you know, month. It's just, I live here, right? And that's what a lot of people do. So, Trent, please. If you end up buying a house, which is a great idea, people should own property in their life. We think that's a wonderful plan. If you end up buying a house, just make sure you're doing it in a way where you got some bedrooms, you're gonna have some housemates, they're paying your mortgage a little bit. Maybe you're house hacking and you're doing the duplex triplex thing. You're doing it in a way that's gonna put money in your pocket. Not just take away, take away every single month.

B (29:02)

What a great breakdown. Yeah. The first property I ever bought was a fourplex. I renovated it, I lived in one unit for many years. I rented the other three. My mortgage was paid for, it appreciated, and I probably held that property for 20 years. So, yeah, I love that breakdown.

A (29:17)

So our last question comes from Papa Protein. That's a fun name. What's up, Papa Protein? Thanks for tuning into the show. Papa Protein says, is there still a way to invest into the SpaceX IPO before it's open to the public? This is a good question. So as a reminder, if you were a part of the Rich Habits Network for the last 18 months, right. We started that in August of 2024, you would have been able to invest alongside of us into space at about a $220 billion valuation, I think it was. And, you know, now there's rumors of a 1 to $2 trillion IPO. So crazy markup on that, which is exciting. But if you're not in the Rich Habits Network and you've not invested into SpaceX before their IPO, and you're trying to find out ways, I probably wouldn't at this point. I feel like if you were to go find something online, it might be predatory. Right. The fees might imply a very high valuation or something of that nature. So instead of trying to. To profit from a potential SpaceX IPO slash merger with Tesla and Xai and everything else that Elon's been tweeting and talking about here lately, maybe, just maybe, polymarket is a platform to consider using. Because polymarket, which is the prediction, cryptocurrency prediction market here, they've done a pretty cool job of allowing you to make bets on the outcome of a SpaceX IPO, for example, there's a billion dollars right now being bet on the headline SpaceX IP closing market cap, which is what's the market capitalization of SpaceX on the day it iPodOS, right? What does it close at? And right now there's a 72% chance that it closes above $1 trillion in market cap, which means if you put in a thousand dollars on this, you could essentially make a 37% return on your money if it actually happens. Right? This is all a big F. I'm not saying to do this. I'm not endorsing polymarket. I'm not selling anyone to do anything. Not financial advice. I'm. I haven't done this, right? I'm just trying to spitball and help you all out here, right? I'm not going to do this. But anyway, if you wanted to figure this out and do this yourself on polymarket, you can do that. That'd be about a 30, 37ish percent return, which I guess is similar to kind of where you'd be at right now because I think they just did a tender offering at 800,000,000 billion. You put 30% on top of that, it's around that 1.1, 1.2 trillion, which may be where they IPO. You could also bet on the closing market cap to be between specific numbers like to 1.6 trillion or maybe even above 2 trillion. There's a bunch of different ways to do this. Again, lots of nuances here. When it comes to Polymarket, make sure you read the rules of every single outcome and you understand everything as it relates to what actually will get processed as a true event versus a not true event. I know there's been a kind of a discrepancy there in the past with them, so just be careful. But if you are trying Papa Protein to find a way to invest or profit from a SpaceX IPO before they actually hit the public markets, maybe making a bet on the outcome of that IPO via Poly Market. Maybe Kalshi has some as well. I haven't looked at Kalshi, but maybe they do. But one of these predicted markets could be the way to go.

B (32:30)

I think that's a great way to look at it because I think the ship has sailed a little bit and I would hate to see someone go pay a ton of fees. Like you said, this predatory lending of these stocks or purchases, not lending, but of these types of stocks. I'd rather see Papa Protein go out and maybe get in some Picks and shovels play in space. Maybe some, some rocket lab or asts, Space mobile, which you can buy right now on the stock market. They've done very, very well and I think those two companies are the leaders in the field kind of wrappering around SpaceX IPO and what is happening to build these data centers in space. So that's the way I would look at it. But I love the poly marketplay too. If someone wants to speculate a little bit. Yeah, just don't be buying these IPOs from random sites and random people because you're not going to get a fair price and you're probably not going to make money that way.

A (33:19)

Another really interest interesting way to potentially profit from a SpaceX IPO. And this is more of a proxy idea of doing it. Like there's a company called EchoStar Corporation, ticker symbol S A T S. In September of 2025 there was a 17 billion dollar deal involving the sale of some sort of spectrum stuff. And in that sale EchoStar received eight and a half billion dollars worth of SpaceX stock at a valuation of about 450 billion do they also got another 2.6 billion of stock in November of 2025. So at the moment they're holding on to about $11 billion worth of SpaceX stock on their balance sheet. If SpaceX IPOS and is worth $1.5 trillion that is now worth about 40 billion on their balance sheet. Right. Of like equity in SpaceX and EchoStar Corporation stock market cap is only 32 billion. So if they do have a big IP and they've got $40 billion of SpaceX on their balance sheet, that'll get quickly reflected onto their stock price and move the stock price up in proportion to that. So there's a couple different companies like this that have some equity in SpaceX that theoretically could very well benefit from a SpaceX IPO s a T S which is EchoStar Corporation is the one that I've seen most popular. Again they've got $11 billion of SpaceX stock on their balance sheet because of some deals they've done with SpaceX in the past. So if they IPO and SpaceX becomes worth trillions of dollars, then that's a very good thing for EchoStar.

B (34:51)

What a great episode. So many cool questions, so many different variables and situations. As I said, I love these episodes and just really enjoy making them. So keep the questions coming. You can message us on Instagram, Spotify, all YouTube, all the different places. So make sure you keep those questions coming and we'll keep these episodes going as well.

A (35:11)

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