Rich Habits Podcast

Q&A: $21M in Sales, Investing as a Widow, & $100K Invested at 23

8 snips
Mar 12, 2026
They tackle investing choices after life changes, like moving an idle 401(k) for a widow and whether to hire fiduciary advisors. Listeners get guidance on building a simple ETF portfolio and when to leave robo-advisors for self-management. Practical real estate talk covers keeping rental properties, long-distance landlording, and whether to sell. They also discuss managing a $21M business with thin margins and extracting personal pay.
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ADVICE

Decide If You Actually Want To Self-Manage

  • Do decide whether you want the responsibility of self-managing investments before leaving a robo-advisor.
  • Robert Croak recommends account (ACATS) transfers to avoid taxable events and warns of losing advisor handholding at 0.79% fees.
ADVICE

Build And Backtest Your Portfolio Before Moving Funds

  • Do plan your DIY portfolio before moving funds: pick a small set of ETFs, allocation, and backtest the drawdowns versus the S&P.
  • Austin Hankwitz suggests writing the portfolio, backtesting with AI tools, and keeping a backup plan to rehire a manager if needed.
ADVICE

UTMA Becomes The Child's Account At Majority

  • Do know that a UTMA converts to the child's brokerage account at the legal age and you lose custodial control.
  • Austin explains you can still gift money into the account after transfer but watch annual gift tax exclusion limits.
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