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Austin’s father passed away on Tuesday. We ask that you keep him in your thoughts and prayers as he navigates this challenging process.

This week’s newsletter won’t feature an “Austin’s Callout” section because he is using this time to handle the many arrangements and conversations that come along with the loss. We appreciate your patience as he gets back into the swing of things. Thanks so much for all of the kind words that have already been pouring in — especially those from inside the Rich Habits Network.

Every reader of this newsletter and listener of the podcast mean so much to us. Thanks for all the kindness that’s being shared toward someone that we love very much.

A quick breakdown — in case you don’t have the time.

$7.4 trillion is sitting in money market funds.

A new all-time high has been reached for the amount of money “sitting on the sidelines.” This cash represents potential buying power when investors eventually rotate out of safe, low-yielding cash into risk assets like stocks, crypto, and real estate.

This much cash in money market funds typically signals that investors are still cautious — not euphoric. Historically, markets tend to top when everyone is “all in.” This level of caution suggests the current rally is under-owned, which could give it room to continue climbing. Remember… being near or at market all-time-highs is not bearish. It’s typically bullish.

Bottom line — $7.4T in money markets means there’s a historic amount of cash waiting for a reason to move. If macro conditions ease or sentiment shifts, it could unleash a wave of bullish demand. This could come in the form of rate cuts, crypto leading the way, GDP outperformance, or massive AI players like Nvidia gaining sustained strength (which seems to be happening right now).

In our opinion, as the Federal Reserve begins to cut rates — causing the interest earned on this $7.4 trillion to deteriorate quickly — the money will get put to work by getting invested in the stock market.

Today’s Rich Habits Newsletter is brought to you by Public, the investing platform that combines a broad range of asset classes with the tools you need to build and manage your wealth. 

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👉 Episode 125: The Habits That Made Our First $1M

In this week’s Monday-morning episode of the Rich Habits Podcast (linked here) — Austin and Robert pull back the curtain on the exact habits that helped them build their first million in net worth — and how you can apply those same strategies to scale from six figures to seven.

This episode is tailored specifically for the person who’s already built their base — you’ve got your accounts, your investments, your momentum — now you need structure and consistency to take it to the next level.

Here’s what they covered this week...

👉 Q&A: Preparing for a Recession, Invest $37K or Pay Off the Car, & Active Portfolio Management

Here’s a link to the Q&A episode that was posted this morning. Austin gave a quick introduction to this episode explaining that this is a replay episode, and he’ll be back soon.

We answered questions from: Julia, Carson, Marc, Ali, Daniel, Rdee, Brooke, and more.

You can submit questions for these episodes by asking them inside of the Rich Habits Network, replying to this email, or sending us a DM on Instagram.

The Rich Habits Podcast is available on Spotify, Apple, iHeart, YouTube, and wherever else you get your content!

GDP slowing and inflation growing are both still risks.

During Tuesday night’s livestream in the Rich Habits Network, we discussed what could be the key factors that lead to a drop in the markets.

Tariff hikes are considered “stagflationary” because they can slow economic growth while increasing prices. The Fed has lowered growth projections while raising expectations for both inflation and unemployment. Even without a technical recession (current odds are at 25%), the economy is expected to experience some sort of stagflation — slower growth and higher prices. GDP growth is expected to slow to just +1.2% in 2025, with unemployment rising to 4.4% and potentially exceeding 5% in 2026.

My hope is that the U.S. can beat expectations on BOTH of these metrics. I believe that GDP can come in higher than economists expect, without inflation needing to surge. We’re also still finding out if tariffs are truly as inflationary as most people have expected since the beginning of Trump’s presidency.

I see these as the key risks to the market, but also the two things that can propel us WAY higher if we have positive outcomes. I encourage you to keep an eye on both of these as we get monthly / quarterly economic updates.

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It just takes a few moments — enjoy the resources!

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Disclaimer: This is not financial advice or a recommendation for any investment. The content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.

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