Rich Habits Podcast

Episode: Q&A: Investing in Copper, Approaching a Down Payment, & Finances After Divorce
Date: January 29, 2026
Hosts: Austin Hankwitz & Robert Croak

Episode Overview

This Q&A episode focuses on real-life financial scenarios from listeners: the pros and cons of 401(k) rollovers, steps for launching a new kitchen appliance, post-divorce investing and home buying, diversifying into small business as a young, successful electrician, and strategies for taking profits on trending commodities like copper and silver. Austin and Robert provide actionable, scenario-based advice rooted in their own financial journeys, mistakes, and successes, with a candid style aimed at demystifying what it takes to build “rich habits.”

Key Discussion Points & Insights

1. 401(k) Rollovers — When to Move or Stay Put?

[02:27–05:38] Listener: Anonymous (30, NYC Commercial Litigator)

• Austin recommends rolling the old 401(k) into a traditional IRA (assuming pre-tax), for more investment autonomy and typically lower fees:
  • “Having the autonomy to choose because it’s in your traditional IRA into what you want to be investing into is the name of the game.” – Austin [05:35]
  • Keep retirement investments focused on diversified index funds and ETFs for long-term growth (VOO, QQQ, SCHD, VXUS, etc.).
• Robert agrees: “That is exactly how I would do it…I think that is the best move in this situation.” [05:38]
• Both stress reviewing fund performance, fees, consolidation, and flexibility before making a decision.

2. Bringing a New Appliance Idea to Market

[05:49–12:42] Listener: John D.

• Stepwise advice from Robert:
  1. Protect the idea first: Maintain thorough records, consider trademarks, secure social handles, and determine appropriate patents (design or utility). Never share drawings without NDAs in place.
  2. Manufacturing: Set up a manufacturer’s agreement (use ChatGPT or a contract lawyer); don’t share concepts until protections are signed.
  3. Go-to-market: Start small with limited production (avoid big inventory risk), prove product-market fit, grow sales locally or online before ramping up.
  • “I don’t want you to spend a million dollars, raise capital…and find out nobody wants your product.” – Robert [07:37]
• Austin urges finding community: “Find people…doing [this] in real time and documenting the journey—it’s really invaluable.” [09:13]
  • Example: Charlotte Tren, CEO of Char Charms and Wall Candy, documents every step—“She’s now selling these products in the tune of tens of millions of dollars.” [09:56]
  • Documentation breeds opportunity: Random content can connect you to investors, retailers, or viral attention.
    • “No idea is too crazy, and no piece of content is too crazy either." – Austin [12:42]
• Robert underlines the “start small, share the process” mantra: “He sold the idea sight unseen for $16 million without ever putting any money into production or ads…” [11:29]

3. Finances After Divorce: Prioritizing Down Payment, Investing, and Cash Flow

[12:49–18:40] Listener: Jeremy (37, DC, 2 kids)

• Jeremy’s scenario: Post-divorce, renting, estimating $1,000/month to save/invest, wants to save $120k for a house down payment in 3–5 years.
• Robert recommends renting for a few years: “I like the idea of you renting for now…have a little bit of breathing room…not rushing into a new house is critical here.” [14:55]
• Austin deep dives:
  • Suggests keeping Roth IRA maxed annually, but reducing TSP (Thrift Savings Plan) contributions to just the employer match. The difference (up to $20k/year) goes to down payment savings, accelerating the goal.
  • “Just do this little tweak…and you can find yourself $120,000–$140,000 richer in the next 4 or 5 years.” [17:09]
  • On using mutual funds for the down payment: No need if you make these tweaks. Keep investment allocations strong unless the funds are underperforming major indices.
• Robert adds tactical legal advice: “Make sure you sell the home before the divorce is finalized—cap gains exclusion can save you a lot in taxes.” [18:40]
• Both stress the importance of adapting priorities post-divorce, staying invested, and taking a long-term view.

4. Small Business: When and How to Diversify as a High-Earning Young Electrician

[21:12–30:22] Listener: Ng (25, Traveling Electrician, $250k+ net worth)

• Ng considers launching/buying a small business for wider income streams.
• Austin’s advice: Stay focused and let compounding work; wait till net worth doubles to ~$500–600k before shifting attention from the core job.
  • “I just think it’s a little premature…keep doing what clearly works for you until [net worth] is close to that $400k–$600k.” [24:26]
• Robert offers an alternative:
  • Supports testing business ideas, if sticking to your core competency (trades/electrical).
  • Don’t overextend: “Put a cap on maybe 10–15% of your capital…don’t use all the capital you’ve done so well to put away.” [25:05]
• Business ideas for tradespeople:
  • Buy into related small trades (drywall, roofing).
  • Build a digital/mentorship business to teach others how to follow Ng’s path—mirroring success stories like “Nurse Sam” with subscription content for trades.
  • “I would literally create something that says, ‘Here’s my exact playbook that took me to $150k…a quarter million dollar net worth at 25.’” – Austin [29:09]
• “Everyone listening…has a unique experience…people will pay you to learn from it. That’s what you do.” – Austin [30:22]

5. Profits and Positioning: When to Take Money Off the Table in SLV/COPX

[31:48–34:56] Listener: Lee Z. on Instagram

• Robert’s profit-taking rule of thumb: “When I take a position…if it’s up 50%, I take 25% profits. If it gets up 50% again, I take another quarter off, and so on.” [31:48]
• Silver:
  • “For silver…yes, be taking tons of profits. Especially if you got in at 20, 30, 40, 50 bucks.” – Austin [32:28]
  • Reallocate into underperforming but promising positions (e.g., Amazon, Russell 2000).
• Copper:
  • Austin is bullish: “I’m actively buying copper right now. I think copper is going to be an incredible commodity to own between now and the end of the decade.” [33:33]
• General advice: Each day you hold an asset, you’re investing at that day’s price—“If there’s ever a price where you’d say, ‘Maybe I wouldn’t put $12,000 in at this price,’ maybe it’s time to take profits.” – Austin [34:23]
• Robert’s casino analogy: “The number one thing you hear on a casino floor…‘I was up!’…People get greedy. So take profits along the way.” [34:56]

6. You’ll Never Sell the Peak—Why Taking Profits Is Always a Win

[35:15–39:00]

• Austin and Robert discuss letting winners run too long, selling early, and why perfect timing is impossible.
  • Robert: “I thought I could get cute and try to time the market…and I don’t do it anymore. Just buy and dollar cost average and hold unless your conviction changes.” [35:43]
  • On Bitcoin: “I have sold Bitcoin at $700, at $1,700, at $6,000, at $21,000. So that was also not a mistake because I still made a ton of money from an ROI perspective.” [37:11]
• Takeaway: Don’t look in the rearview mirror—“You in that moment…were making the best decision with your money as you could with the information you had.” – Austin [37:17]
• “When you hear the fake gurus telling you they know when the bottom…the top is, don’t listen…” – Robert [38:19]

Notable Quotes & Memorable Moments

• Austin: “Having the autonomy to choose because it’s in your traditional IRA into what you want to be investing into is the name of the game.” [05:35]
• Robert: “No idea is too crazy…document the journey…because no idea is too crazy.” [11:29]
• Austin: “I just think it’s a little premature…keep doing what has got you to where you are.” [24:26]
• Robert: “Put a cap on like maybe 10 or 15% of it if you were going to start something on your own. I would not use any more of it…” [25:05]
• Austin: “Every day you have your $12,942 of SLV or COPX invested, you’re actively saying, ‘Would I buy $12,000 worth of this at this price?’” [34:13]
• Robert: “The number one thing you hear on a casino floor…‘I was up!’…because people get greedy.” [34:56]
• Robert: “When you hear the fake gurus telling you they know when the bottom is…the top is, don’t listen to that either because they don’t.” [38:19]

Timestamps for Important Segments

• [02:27] 401(k) Rollover Decisions
• [05:49] Kitchen Appliance Idea: Protecting, Manufacturing, Launching
• [12:49] Investing, Renting, & Saving After Divorce
• [21:12] Should a 25-year-old Electrician Buy or Build a Business?
• [31:48] Profit-Taking: SLV (Silver), COPX (Copper) Strategies
• [35:15] “You’ll Never Sell the Peak” – Mindset & Mistakes

Conclusion

Austin and Robert, sharing both their expertise and humility from lived experience, walk listeners through nuanced real-world financial decisions. Their approach is candid, supportive, and practical—focusing on habits, protecting downside, and seizing the upside. The “Rich Habits” community is encouraged to connect, learn, document, and stay long-term oriented—proof that “no idea is too crazy” and every day is an opportunity to build wealth with discipline and intention.