Building Your Money Machine

Mel H Abraham, CPA, CVA, ASA
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Jul 1, 2024 • 33min

Why Staying Rich Is Harder Than Getting Rich

Are you ready to uncover the secrets to not just getting rich, but staying rich? The journey doesn't end at accumulation; it extends into protection and preservation!In today’s episode, I dive into the often-overlooked challenges of maintaining wealth after achieving financial success. I emphasize the importance of protecting your fortune against bad investments, lawsuits, losses, and even thievery. It’s not just about picking the right investments; it’s about strategic wealth management, tax optimization, and meticulous succession planning.We explore how to minimize taxes when selling assets, drawing from retirement accounts, and ensuring a smooth wealth transfer that avoids family conflicts. We also highlight the importance of philanthropy, staying active in giving and charitable causes even in retirement, and finding joy along your financial journey.Are you prepared to build both your earnings machine and your money machine to ensure lasting wealth? Tune in to the full episode now!IN TODAY’S EPISODE, I DISCUSS: -Asset protection strategies to safeguard your wealth-The crucial role of advisors beyond investment picking-Effective tax optimization techniquesRECOMMENDED EPISODES FOR YOU If you liked this episode, you'll love these ones:Investment Taxes…What You Need to KnowDoing Nothing with Your Money Isn't An Option!Q&A Why Taking a 401K Loan Can Destroy Your WealthGetting Your Partner on the Same Money Page       RECOMMENDED VIDEOS FOR YOU If you liked this video, you'll love these ones:Investment Taxes…What You Need to Know: https://www.youtube.com/watch?v=8I2VnoVMlUo Doing Nothing with Your Money Isn't An Option!: https://youtu.be/vlM4dVTh15Q  Q&A Why Taking a 401K Loan Can Destroy Your Wealth: https://youtu.be/fuasu0zN3to Getting Your Partner on the Same Money Page: https://youtu.be/BaAW-JswkXQ ORDER MY NEW BOOK:Building Your Money Machine: How to Get Your Money to Work Harder For You Than You Did For It! The key to building the life you desire and deserve is to build your Money Machine—a powerful system designed to generate income that’s no longer tied to your work or efforts. This step-by-step guide goes beyond the general idea of personal finance and wealth creation and reveals the holistic approach to transforming your relationship with money to allow you to enjoy financial freedom and peace of mind.Part money philosophy, part money mindset, part strategy, and part tactical action, these powerful frameworks will show you how to build your money machine.TAKE THE FINANCIAL FREEDOM QUIZ:Take this free quiz to see where you are on the path to financial freedom and what your next steps are to move you to a new financial destiny at http://www.YourFinancialFreedomQuiz.com  
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Jun 27, 2024 • 30min

9 Financial Goals You Must Hit By 40

Do you know if you're hitting the right financial goals by the time you're 40? It's about more than just making money—it's about setting a solid foundation for the future!In today’s episode, I break down the nine essential financial goals you should aim to achieve by age 40. We'll explore why your forties are the "millionaire's decade" and address the pivotal transitions happening in your life. From building an unshakable financial foundation to fully funding your future and understanding debt management, I cover all the crucial steps to ensure you're on the right path.Ready to take control of your financial journey and set yourself up for long-term success? Tune in to the full episode now!IN TODAY’S EPISODE, I DISCUSS: -The importance of having an unshakable financial foundation and building liquidity-Effective debt management strategies to avoid destructive debt and embrace productive debt-How to fully fund your financial future and make smart investment choicesRECOMMENDED EPISODES FOR YOU If you liked this episode, you'll love these ones:How to Get the Right CPA & Why It Matters7 Money Excuses That'll Keep You Broke!Your Financial Advisor May Not Be Telling You the Truth!Traditional Financial Advice Doesn't Work for Entrepreneurs    RECOMMENDED VIDEOS FOR YOU If you liked this video, you'll love these ones:How to Get the Right CPA & Why It Matters: https://youtu.be/zj26Wwqe0bk 7 Money Excuses That'll Keep You Broke!: https://youtu.be/dMyNonXrxVE Your Financial Advisor May Not Be Telling You the Truth!:https://youtu.be/1FDZfejefQ8 Traditional Financial Advice Doesn't Work for Entrepreneurs: https://youtu.be/Rz3gSOxSeWQ  ORDER MY NEW BOOK:Building Your Money Machine: How to Get Your Money to Work Harder For You Than You Did For It! The key to building the life you desire and deserve is to build your Money Machine—a powerful system designed to generate income that’s no longer tied to your work or efforts. This step-by-step guide goes beyond the general idea of personal finance and wealth creation and reveals the holistic approach to transforming your relationship with money to allow you to enjoy financial freedom and peace of mind.Part money philosophy, part money mindset, part strategy, and part tactical action, these powerful frameworks will show you how to build your money machine.
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Jun 24, 2024 • 60min

35 Years of Brutally Honest Financial Advice In 57 Mins

Are you ready to dive deep into brutally honest financial advice? It's not just about making money, it's about creating a life rich in time, talents, and treasures!In today’s episode, I take you on a journey through the key principles of financial empowerment. I share personal stories, including my son Jeremy's inherited gifts and my own battle with cancer, and how these experiences shaped my financial philosophy. We'll explore the significance of transferring skills before assets, the impact of "money stories," and the steps you need to take to actively build and manage your wealth. From outlining effective savings strategies to understanding the five levels of income, I provide a roadmap for creating your own money machine and living a life of choice, not demands.Ready to transform your financial mindset and take control of your destiny? Tune in to the full episode now!IN TODAY’S EPISODE, I DISCUSS: The power of transferring skill sets before assets My personal journey through financial highs and lowsSteps for financial empowerment and wealth-buildingRECOMMENDED EPISODES FOR YOU If you liked this episode, you'll love these ones:The 25 Top Money Books I've Read (What I Learned)Traditional Financial Advice Doesn't Work for EntrepreneursBuild Wealth & Live a Rich Life at Any Age (My son's journey)How to Do Money Right As a Family   RECOMMENDED VIDEOS FOR YOU If you liked this video, you'll love these ones:I Read 40 Books on Money... Here's what will make you rich: https://youtu.be/IVrVC8smFS4 Traditional Financial Advice Doesn't Work For Entrepreneurs :https://youtu.be/GZTaw24Hnc4 Build Wealth & Live a Rich Life at Any Age (My son's journey): https://youtu.be/5p7OVp2pAbM How to Do Money Right as a Family:https://youtu.be/vZqfINfPNoo ORDER MY NEW BOOK:Building Your Money Machine: How to Get Your Money to Work Harder For You Than You Did For It! The key to building the life you desire and deserve is to build your Money Machine—a powerful system designed to generate income that’s no longer tied to your work or efforts. This step-by-step guide goes beyond the general idea of personal finance and wealth creation and reveals the holistic approach to transforming your relationship with money to allow you to enjoy financial freedom and peace of mind.Part money philosophy, part money mindset, part strategy, and part tactical action, these powerful frameworks will show you how to build your money machine.
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Jun 20, 2024 • 25min

Change Your Finances in 6 Months (This is How to Make it Happen)

Are you ready to change your finances in just 3 months? It's not just a goal, it's a game plan!In today’s episode of the TAE Show, I break down the steps you can take to transform your financial trajectory in just 90 days. We go through eight actionable items that fit into a weekly plan, so you can get control of your money and move closer to financial freedom. From understanding what truly matters to you, to creating a debt payment plan, and setting up automatic savings—I've got you covered. With the right effort, discipline, and consistency, you can make these steps part of your journey to success beyond wealth.Want to take control of your financial future and live a richer, more fulfilling life? Tune in to the full episode now!IN TODAY’S EPISODE, I DISCUSS: Determining what matters to you and setting a clear visionCreating a debt payment plan to eliminate destructive debtSetting up automatic transfers to a high-yield savings accountRECOMMENDED EPISODES FOR YOU If you liked this episode, you'll love these ones:The 25 Top Money Books I've Read (What I Learned)Traditional Financial Advice Doesn't Work for EntrepreneursBuild Wealth & Live a Rich Life at Any Age (My so n's journey)How to Do Money Right As a Family   RECOMMENDED VIDEOS FOR YOU If you liked this video, you'll love these ones:I Read 40 Books on Money... Here's what will make you rich: https://youtu.be/IVrVC8smFS4 Traditional Financial Advice Doesn't Work For Entrepreneurs :https://youtu.be/GZTaw24Hnc4 Build Wealth & Live a Rich Life at Any Age (My son's journey): https://youtu.be/5p7OVp2pAbM How to Do Money Right as a Family:https://youtu.be/vZqfINfPNoo ORDER MY NEW BOOK:Building Your Money Machine: How to Get Your Money to Work Harder For You Than You Did For It! The key to building the life you desire and deserve is to build your Money Machine—a powerful system designed to generate income that’s no longer tied to your work or efforts. This step-by-step guide goes beyond the general idea of personal finance and wealth creation and reveals the holistic approach to transforming your relationship with money to allow you to enjoy financial freedom and peace of mind.Part money philosophy, part money mindset, part strategy, and part tactical action, these powerful frameworks will show you how to build your money machine.
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Jun 17, 2024 • 36min

Money Lessons I Know at 62 I Wish I Knew at 32

Do you ever wish you knew at 32 what you know at 62? It's not about regrets; it's about turning life's lessons into actionable wisdom!In today’s episode, I share the money lessons I’ve learned over 62 years—insights I wish I had at 32. We dive into living your own dreams, and not someone else’s. You’ll hear why accepting and learning from your mistakes is crucial, illustrated by my own encounter with a Ponzi scheme. I talk about the importance of making informed financial decisions, and how investing—rather than just saving—is key to wealth accumulation. Plus, discover why budgeting is less about deprivation and more about permission planning, and why saying no can sometimes be the most powerful decision you make.Want to make the most out of your financial journey and avoid the pitfalls I encountered? Tune in to the full episode now!IN TODAY’S EPISODE, I DISCUSS: - Embracing life lessons and making the most of every moment- Learning from mistakes and the power of discernment in your commitments- The importance of budgeting as permission planning, not deprivationRECOMMENDED EPISODES FOR YOU If you liked this episode, you'll love these ones:The 25 Top Money Books I've Read (What I Learned)Traditional Financial Advice Doesn't Work for EntrepreneursBuild Wealth & Live a Rich Life at Any Age (My so n's journey)How to Do Money Right As a Family   RECOMMENDED VIDEOS FOR YOU If you liked this video, you'll love these ones:I Read 40 Books on Money... Here's what will make you rich: https://youtu.be/IVrVC8smFS4 Traditional Financial Advice Doesn't Work For Entrepreneurs :https://youtu.be/GZTaw24Hnc4 Build Wealth & Live a Rich Life at Any Age (My son's journey): https://youtu.be/5p7OVp2pAbM How to Do Money Right as a Family:https://youtu.be/vZqfINfPNoo ORDER MY NEW BOOK:Building Your Money Machine: How to Get Your Money to Work Harder For You Than You Did For It! The key to building the life you desire and deserve is to build your Money Machine—a powerful system designed to generate income that’s no longer tied to your work or efforts. This step-by-step guide goes beyond the general idea of personal finance and wealth creation and reveals the holistic approach to transforming your relationship with money to allow you to enjoy financial freedom and peace of mind.Part money philosophy, part money mindset, part strategy, and part tactical action, these powerful frameworks will show you how to build your money machine.
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Jun 13, 2024 • 22min

My Brutal Advice To Someone Who Wants Financial Freedom

Do you dream of financial freedom but find yourself drowning in debt and money stress? It's time to break free and claim what’s rightfully yours!In today’s episode, I share my brutal, no-nonsense advice on achieving financial freedom. I delve into the societal taboos around money, the misconceptions that hold us back, and the steps you must take to build a life by choice. Learn how to start with your lifestyle desires, put a price tag on your dreams, and cultivate habits that lead to long-term wealth. From investing priorities to the critical milestone of your first $100K, I cover it all to set you on the path to becoming an affluent entrepreneur.Ready to stop living on the sidelines and start playing the game? Tune in to the full episode now!IN TODAY’S EPISODE, I DISCUSS: -Why financial freedom is your birthright and how to claim it- The societal taboos around money and their impacts- Defining your life vision and putting a price tag on itRECOMMENDED EPISODES FOR YOU If you liked this episode, you'll love these ones:How to Get the Right CPA & Why It Matters7 Money Excuses That'll Keep You Broke!Your Financial Advisor May Not Be Telling You the Truth!Traditional Financial Advice Doesn't Work for Entrepreneurs    RECOMMENDED VIDEOS FOR YOU If you liked this video, you'll love these ones:How to Get the Right CPA & Why It Matters: https://youtu.be/zj26Wwqe0bk 7 Money Excuses That'll Keep You Broke!: https://youtu.be/dMyNonXrxVE Your Financial Advisor May Not Be Telling You the Truth!:https://youtu.be/1FDZfejefQ8 Traditional Financial Advice Doesn't Work for Entrepreneurs: https://youtu.be/Rz3gSOxSeWQ ORDER MY NEW BOOK:Building Your Money Machine: How to Get Your Money to Work Harder For You Than You Did For It! The key to building the life you desire and deserve is to build your Money Machine—a powerful system designed to generate income that’s no longer tied to your work or efforts. This step-by-step guide goes beyond the general idea of personal finance and wealth creation and reveals the holistic approach to transforming your relationship with money to allow you to enjoy financial freedom and peace of mind.Part money philosophy, part money mindset, part strategy, and part tactical action, these powerful frameworks will show you how to build your money machine.
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Jun 10, 2024 • 27min

What It's Like To Have An Automatic Money Machine

Ever wondered what it’s like to have an automatic money machine? In today's episode, I dive deep into the concept of creating a money machine that can separate your ability to earn from the direct effort it takes to earn.Join me as I share pivotal moments from my life that led to this revelation. From witnessing my hero, my father, struggle with finances, to realizing that making money isn't just about the dollars in the bank but about freedom and control over my life. This journey led me to explore how to strategically use time and money to build a sustainable wealth-generating system.In this episode, I discuss strategies to leverage your time and money to create a financial life aligned with your goals, allowing you to live with freedom and purpose. Don’t miss out on learning how to turn your financial stress into financial freedom!IN TODAY’S EPISODE, I DISCUSS: The emotional triggers that led to my financial journeyThe transformative power of separating income from hours workedSteps to build your own money machine for lasting financial freedomRECOMMENDED EPISODES FOR YOU If you liked this episode, you'll love these ones:Are You Really Living a Rich Life or a Bankrupt One?A New Path to Conversation, Connection & Conversion with Natasha WillisFulfillment & Wealth Through a Personal Brand with Rory VadenBuild Wealth & Live a Rich Life at Any Age (My son's journey)RECOMMENDED VIDEOS FOR YOU If you liked this video, you'll love these ones:Are You Really Living a Rich Life or a Bankrupt One?: https://youtu.be/yrredqHf09sA New Path to Conversation, Connection & Conversion with Natasha Willis: https://youtu.be/u0GEulUo4TkFulfillment & Wealth Through a Personal Brand with Rory Vaden: https://youtu.be/uJAee2sVqcoBuild Wealth & Live a Rich Life at Any Age (My son's journey): https://youtu.be/5p7OVp2pAbMPRE-ORDER MY NEW BOOK:Building Your Money Machine: How to Get Your Money to Work Harder For You Than You Did For It! The key to building the life you desire and deserve is to build your Money Machine—a powerful system designed to generate income that’s no longer tied to your work or efforts. This step-by-step guide goes beyond the general idea of personal finance and wealth creation and reveals the holistic approach to transforming your relationship with money to allow you to enjoy financial freedom and peace of mind.Part money philosophy, part money mindset, part strategy, and part tactical action, these powerful frameworks will show you how to build your money machine.
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Jun 6, 2024 • 20min

How to Save YOUR First $100k (My Savings Framework)

Are you ready to build your first $100,000 in wealth? It's not just a dream—it's doable with the right framework!In today’s episode, I dive deep into the strategies you need to save your first $100,000. I explain why the initial hundred thousand is the hardest to accumulate and how it accelerates from there. Then, I introduce my WEALTH framework—work the plan, enhance your income, allow for emergencies, lower your debt load, get tactical with your investing, and harness your resources. These actionable steps will help you get on the pathway to financial success.Want to make the leap towards financial freedom and see your money work harder for you? Tune in to the full episode now!IN TODAY’S EPISODE, I DISCUSS: -Why the first $100,000 is the hardest to save-The exponential nature of wealth creation-The six-step WEALTH framework for building your first $100,000RECOMMENDED EPISODES FOR YOU If you liked this episode, you'll love these ones:Are You Really Living a Rich Life or a Bankrupt One?A New Path to Conversation, Connection & Conversion with Natasha WillisFulfillment & Wealth Through a Personal Brand with Rory VadenBuild Wealth & Live a Rich Life at Any Age (My son's journey)RECOMMENDED VIDEOS FOR YOU If you liked this video, you'll love these ones:Are You Really Living a Rich Life or a Bankrupt One?: https://youtu.be/yrredqHf09sA New Path to Conversation, Connection & Conversion with Natasha Willis: https://youtu.be/u0GEulUo4TkFulfillment & Wealth Through a Personal Brand with Rory Vaden: https://youtu.be/uJAee2sVqcoBuild Wealth & Live a Rich Life at Any Age (My son's journey): https://youtu.be/5p7OVp2pAbMPRE-ORDER MY NEW BOOK:Building Your Money Machine: How to Get Your Money to Work Harder For You Than You Did For It! The key to building the life you desire and deserve is to build your Money Machine—a powerful system designed to generate income that’s no longer tied to your work or efforts. This step-by-step guide goes beyond the general idea of personal finance and wealth creation and reveals the holistic approach to transforming your relationship with money to allow you to enjoy financial freedom and peace of mind.Part money philosophy, part money mindset, part strategy, and part tactical action, these powerful frameworks will show you how to build your money machine.
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Jun 3, 2024 • 26min

How to Become a Millionaire with a Low Income

Are you ready to discover how you can become a millionaire even with a low income? It’s not just a dream, it's within reach!In today’s episode, I break down the myth that you need a high income to build wealth. Using the inspirational story of Ronald Reed, a janitor who amassed an $8 million estate, I illustrate how ordinary, everyday actions can lead to extraordinary financial results. I'll walk you through the four wealth drivers you need to master: controlling your income, maximizing your savings rate, achieving solid returns, and leveraging time. Plus, I share the essential traits and behaviors that most millionaires have in common.Want to take control of your financial destiny and start your journey to millionaire status? Tune in to the full episode now!IN TODAY’S EPISODE, I DISCUSS: -The inspiring journey of Ronald Reed and his extraordinary financial success-The four wealth drivers matrix and why it’s crucial for building wealth-The exponential importance of time in your investment strategyRECOMMENDED EPISODES FOR YOU If you liked this episode, you'll love these ones:How to Get the Right CPA & Why It Matters7 Money Excuses That'll Keep You Broke!Your Financial Advisor May Not Be Telling You the Truth!Traditional Financial Advice Doesn't Work for Entrepreneurs    RECOMMENDED VIDEOS FOR YOU If you liked this video, you'll love these ones:How to Get the Right CPA & Why It Matters: https://youtu.be/zj26Wwqe0bk 7 Money Excuses That'll Keep You Broke!: https://youtu.be/dMyNonXrxVE Your Financial Advisor May Not Be Telling You the Truth!:https://youtu.be/1FDZfejefQ8 Traditional Financial Advice Doesn't Work for Entrepreneurs: https://youtu.be/Rz3gSOxSeWQ  PRE-ORDER MY NEW BOOK:Building Your Money Machine: How to Get Your Money to Work Harder For You Than You Did For It! The key to building the life you desire and deserve is to build your Money Machine—a powerful system designed to generate income that’s no longer tied to your work or efforts. This step-by-step guide goes beyond the general idea of personal finance and wealth creation and reveals the holistic approach to transforming your relationship with money to allow you to enjoy financial freedom and peace of mind.Part money philosophy, part money mindset, part strategy, and part tactical action, these powerful frameworks will show you how to build your money machine.
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May 30, 2024 • 16min

Why You Need To Start Buying Freedom, Not Things

Ready to break free from the endless cycle of consumerism and start buying freedom instead of things? In this episode of the The Affluent Entrepreneur Show, I delve into the importance of shifting our perspectives from spending on material items to investing in our long-term joy and financial liberation. Discover how societal pressures, constant marketing, and comparison culture can lead us astray, and learn actionable steps to move towards a life of intentional spending and ultimate freedom.Join me on this journey to financial liberation and intentional living. Together, let's pave the way to an affluent life filled with meaning, impact, freedom, and peace. IN TODAY’S EPISODE, I DISCUSS: - Understanding the four elements of affluence beyond just money- Transitioning from a "have to" life to a "get to" life filled with choices and possibilities- Practical strategies to tackle debt, save smarter, and invest in yourself for a brighter financial futureRECOMMENDED EPISODES FOR YOU If you liked this episode, you'll love these ones:The 25 Top Money Books I've Read (What I Learned)Traditional Financial Advice Doesn't Work for EntrepreneursBuild Wealth & Live a Rich Life at Any Age (My so n's journey)How to Do Money Right As a Family   RECOMMENDED VIDEOS FOR YOU If you liked this video, you'll love these ones:I Read 40 Books on Money... Here's what will make you rich: https://youtu.be/IVrVC8smFS4 Traditional Financial Advice Doesn't Work For Entrepreneurs :https://youtu.be/GZTaw24Hnc4 Build Wealth & Live a Rich Life at Any Age (My son's journey): https://youtu.be/5p7OVp2pAbM How to Do Money Right as a Family:https://youtu.be/vZqfINfPNooPRE-ORDER MY NEW BOOK:Building Your Money Machine: How to Get Your Money to Work Harder For You Than You Did For It! The key to building the life you desire and deserve is to build your Money Machine—a powerful system designed to generate income that’s no longer tied to your work or efforts. This step-by-step guide goes beyond the general idea of personal finance and wealth creation and reveals the holistic approach to transforming your relationship with money to allow you to enjoy financial freedom and peace of mind.Part money philosophy, part money mindset, part strategy, and part tactical action, these powerful frameworks will show you how to build your money machine.

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