

Building Your Money Machine
Mel H Abraham, CPA, CVA, ASA
Welcome to 'Building Your Money Machine, hosted by Mel Abraham, CPA, a renowned financial expert and author of USA Today Bestseller, 'Building Your Money Machine: How to Get Your Money to Work Harder For You Than You Did For It!.' On this podcast, Mel shares his insights and experiences from over 30 years in the field of wealth-building, entrepreneurship and mentorship to financial freedom. Each episode provides actionable strategies to master your money, remove financial stress, and live a life by choice, not chance. Whether you work for a company, are a seasoned entrepreneur or someone just starting out on your financial journey, this podcast offers the tools, actionable frameworks and knowledge you need to create your own money machine and secure your financial future. Tune in weekly for expert advice, inspiring guest interviews, and the practical wisdom that will help you take control of your financial destiny. Subscribe now and start building the life you’ve always dreamed of.
Episodes
Mentioned books

May 27, 2024 • 27min
How To (Actually) Build Multiple Streams Of Income
Are you ready to finally understand how to build multiple streams of income and secure your financial future? Discover the secrets of diversification and leverage!In today's episode, I dive deep into the necessity of having multiple streams of income and how it's more crucial than ever. I break down my five income framework, showing you how to move from active income to leveraging business, asset-based, residual, and portfolio income. Learn from my personal journey and see how creating various income streams can safeguard your financial stability, especially during life's unpredictable moments.Want to create a money machine and achieve true financial freedom? Tune in to the full episode now!IN TODAY’S EPISODE, I DISCUSS: The importance of income diversification and reducing financial riskThe five income framework: Active, Business, Asset-Based, Residual, and Portfolio IncomeStrategies to start with one income stream and build additional streams step by stepRECOMMENDED EPISODES FOR YOU If you liked this episode, you'll love these ones:My Money Planning Process to Achieve Your GoalsHow to Get the Right CPA & Why It MattersDemystifying Your Credit Score & Does It MatterWhat to Do Today to Pay Less Tax and Keep More Money RECOMMENDED VIDEOS FOR YOU If you liked this video, you'll love these ones:My Money Planning Process to Achieve Your Goals: https://youtu.be/Ip7kLKXNj2Y How to Get the Right CPA & Why It Matters: https://youtu.be/zj26Wwqe0bk Demystifying Your Credit Score & Does It Matter: https://youtu.be/emgKYPy6Quw What to Do Today to Pay Less Tax and Keep More Money: https://youtu.be/tZHKIgr_TIM 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.

May 23, 2024 • 25min
7 BIG Investing Regrets (as a Certified Public Accountant)
Do you ever wonder what the biggest investing regrets might be from someone who's a Certified Public Accountant? Well, you're in luck!In today’s episode, I get real and candid about my own investment journey, sharing the seven biggest investing regrets I've had over the years. From not being curious about wealth early on to blindly following advisors, I lay it all out to help you avoid making the same costly mistakes.We dive deep into the importance of getting curious about wealth, understanding the real meaning of retirement, and the massive impact of starting to invest early. I also discuss the perils of getting too complicated too soon and the dangers of letting emotions drive your decisions. Plus, why it's crucial to stay in the market despite your fears and the importance of talking about and teaching financial literacy more openly.Want to learn from my mistakes and secure your financial future more confidently? Tune in to the full episode now!IN TODAY’S EPISODE, I DISCUSS: - Being curious about wealth and living fully early on- The misconception that retirement is far off- The pitfalls of getting too complicated too soon in investingRECOMMENDED EPISODES FOR YOU If you liked this episode, you'll love these ones:What to Do Today to Pay Less Tax and Keep More MoneyWhich is Better High Yield Savings Accounts or CDs?Should You Use a HELOC to Payoff Your Mortgage?How to Get the Right CPA & Why It Matters RECOMMENDED VIDEOS FOR YOU If you liked this video, you'll love these ones:What to Do Today to Pay Less Tax and Keep More Money: https://youtu.be/tZHKIgr_TIM Which is Better High Yield Savings Accounts or CDs?: https://youtu.be/YO3QY6xR3_M Should You Use a HELOC to Payoff Your Mortgage?: https://youtu.be/_2Hu42no2IY How to Get the Right CPA & Why It Matters:https://youtu.be/zj26Wwqe0bk 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.

May 20, 2024 • 32min
ETF Investing For Beginners (And Novices Too)
Curious about ETF and index fund investing but feeling lost in the maze of financial jargon? You're not alone, and I'm here to make it simple!In today’s episode, I demystify the world of ETFs and index funds, providing you with a clear roadmap to start investing smartly. I explain why it's crucial to begin investing now, laying out the wealth creation curve and the virtues of patience and discipline. You'll learn why focusing on overall returns and playing the long game is paramount, and how avoiding emotional decisions and market hype can save you from financial pitfalls.I also shed light on the importance of keeping your investment fees low, and why consistency in your investing habits pays off, regardless of market fluctuations. We'll delve into various portfolio options like single, two, three, and four fund strategies, catering to different risk tolerances and financial goals.For those just dipping their toes into the investment world, I recommend starting with ETFs and index funds for their diversification and risk management benefits. And, of course, we’ll discuss the importance of having a wealth team and leveraging advisors for complex situations.Seeking financial freedom and ready to take control of your investing journey? Let’s dive into the episode together!IN TODAY’S EPISODE, I DISCUSS: -Understanding the wealth creation curve and why starting now matters-The significance of focusing on overall return on investment-Staying disciplined and avoiding emotional investment decisionsRECOMMENDED EPISODES FOR YOU If you liked this episode, you'll love these ones:How to Do Money Right As a Family Getting Your Partner on the Same Money PageYour Financial Advisor May Not Be Telling You the Truth! What to Do Now to Lower Taxes Before Year EndRECOMMENDED VIDEOS FOR YOU If you liked this video, you'll love these ones:How to Do Money Right as a Family: https://youtu.be/vZqfINfPNoo Getting Your Partner on the Same Money Page: https://youtu.be/BaAW-JswkXQYour Financial Advisor May Not Be Telling You the Truth!: https://youtu.be/1FDZfejefQ8 What to Do Now to Lower Taxes Before Year End: https://youtu.be/SPuxc6OhPn8PRE-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.

May 16, 2024 • 30min
9 Financial Goals You Must Hit by 50
Are you gearing up to hit essential financial milestones by age 50? It's not just about getting there; it's about paving a clear path to secure your future!In today’s episode, I dive deep into the nine financial goals you should achieve by the time you turn 50. From understanding the importance of liquidity and eliminating destructive debt to establishing a robust protection plan with insurances and wills, I cover the crucial steps to ensure you're on track for financial freedom. I also share insights on why aligning your family with your financial goals is vital and the significance of instilling the right values over merely accumulating assets.Ready to assess where you stand and adjust your sails towards a more secure future? Tune in to the full episode now!IN TODAY’S EPISODE, I DISCUSS: The necessity of building an emergency fund that covers 9-18 months of expensesStrategies to tackle and eliminate both destructive and productive debt by age 50Creating a protective shield with the right insurances, trusts, and wills to safeguard your estateRECOMMENDED EPISODES FOR YOU If you liked this episode, you'll love these ones:My Greatest Money Lesson Came from a 6-Year OldShould I Rent or Buy a HomeWhat to Do If You Think You’re Gonna Get Laid OffGetting Your Partner on the Same Money Page RECOMMENDED VIDEOS FOR YOU If you liked this video, you'll love these ones:My Greatest Money Lesson Came from a 6-Year Old: https://youtu.be/BV1_GM9Ku_M Should I Rent or Buy a Home: https://youtu.be/Dy7NyPqrCHE What to Do If You Think You’re Gonna Get Laid Off: https://youtu.be/QYOW2nUbDr8 Getting Your Partner on the Same Money Page: https://youtu.be/BaAW-JswkXQ 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.

May 13, 2024 • 18min
Dividend Investing For Beginners
Are you ready to dive into the world of dividend investing and understand how it can play a part in achieving your financial freedom?In today’s episode, I guide you through the essentials of dividend investing tailored for beginners. We'll explore what dividend investing involves, the benefits of receiving regular payouts, and how dividends can contribute to building your financial portfolio. From the fundamental concepts of dividend payout ratios to the potential impacts on your overall investment returns, I cover everything you need to get started.Want to kickstart your journey towards building a robust investment portfolio that not only appreciates but also pays you? Tune in to the full episode now!IN TODAY’S EPISODE, I DISCUSS: The basics of dividend investing and its role in your financial strategyHow companies decide on paying dividends and the significance of dividend payout ratiosUnderstanding dividend yields and how they affect your investment decisionsRECOMMENDED 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 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.

May 9, 2024 • 18min
How To Manage Your Money Like The 1%
Are you ready to dive into the secrets of managing your money like the ultra-wealthy? It's not about amassing wealth but managing it smartly!In today’s episode, I unravel the habits and strategies of the top 1%, showing you how they manage their money to build and sustain their wealth. From real-life insights on budgeting to investing wisely, you'll discover how these economic trendsetters focus on more than just their earnings. I delve deep into the mindset and mechanisms that drive their financial success and how you can apply these principles to your own life.Want to transform your approach to money and carve your path to financial freedom? Tune in to the full episode now!IN TODAY’S EPISODE, I DISCUSS: Building a "cash resource plan” over simple budgetingThe importance of having a vivid vision and a robust financial planExecuting strategies like the “wealth priority ladder” to maximize your investmentsRECOMMENDED EPISODES FOR YOU If you liked this episode, you'll love these ones:My Money Planning Process to Achieve Your GoalsHow to Get the Right CPA & Why It MattersDemystifying Your Credit Score & Does It MatterWhat to Do Today to Pay Less Tax and Keep More Money RECOMMENDED VIDEOS FOR YOU If you liked this video, you'll love these ones:My Money Planning Process to Achieve Your Goals: https://youtu.be/Ip7kLKXNj2Y How to Get the Right CPA & Why It Matters: https://youtu.be/zj26Wwqe0bk Demystifying Your Credit Score & Does It Matter: https://youtu.be/emgKYPy6Quw What to Do Today to Pay Less Tax and Keep More Money: https://youtu.be/tZHKIgr_TIM 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.

May 6, 2024 • 20min
Why You Need To Stop Chasing Passive Income
Are you tired of chasing the elusive dream of passive income? It's time to get real about building wealth!In today’s episode, I debunk the myths surrounding passive income and explain why it might be steering you away from genuine financial success. I delve into the realities of income generation, highlighting the crucial difference between passive and leveraged income. From the dangers of social media misconceptions to the essential efforts required in managing money, I cover it all. This discussion will shift your perspective from passive to proactive wealth building.Ready to learn how to build a resilient, thriving financial future without falling into the passive income trap? Tune in to the full episode now!IN TODAY’S EPISODE, I DISCUSS: Why passive income is more of a fantasy than a feasible strategyThe truth about the effort needed to build and maintain wealthUnderstanding leveraged income and how you can realistically achieve it through various levels of engagementRECOMMENDED EPISODES FOR YOU If you liked this episode, you'll love these ones:My Money Planning Process to Achieve Your GoalsHow to Get the Right CPA & Why It MattersDemystifying Your Credit Score & Does It MatterWhat to Do Today to Pay Less Tax and Keep More Money RECOMMENDED VIDEOS FOR YOU If you liked this video, you'll love these ones:My Money Planning Process to Achieve Your Goals: https://youtu.be/Ip7kLKXNj2Y How to Get the Right CPA & Why It Matters: https://youtu.be/zj26Wwqe0bk Demystifying Your Credit Score & Does It Matter: https://youtu.be/emgKYPy6Quw What to Do Today to Pay Less Tax and Keep More Money: https://youtu.be/tZHKIgr_TIM 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.

May 2, 2024 • 29min
Why the middle class won't become rich (unless you do this)
Are you feeling stuck in the middle class maze, wondering if you'll ever make your way to financial freedom? Let's shake things up a bit!In today's episode, I dive deep into why the middle class often struggles to reach wealth and how you can break this cycle. I discuss the critical shifts in mindset and action needed to escape financial mediocrity. From understanding the importance of discussing money openly to recognizing the power of strategic investments and multiple income streams, I guide you through the essential steps towards building your money machine.Ready to transform your financial destiny and start building true wealth? Tune in to the full episode now!IN TODAY’S EPISODE, I DISCUSS: - The detrimental "payment game" and how to avoid this common trap- Building liquidity as a foundation for financial security and opportunity- Strategies to separate your effort from your earnings to maximize financial growthRECOMMENDED 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 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.

Apr 29, 2024 • 30min
Why The First $100k Is The Hardest (It Gets Easier)
Are you struggling to hit that first $100k milestone in your financial journey? It's not just a number; it's a crucial stepping stone to future wealth!In today’s episode, I dive deep into why earning your first $100,000 is the hardest but most transformative part of building sustainable wealth. I share personal anecdotes, the setbacks I faced, and actionable strategies to overcome the common hurdles that might be holding you back. From understanding the psychological barriers to effectively managing your lifestyle creep, I cover all bases to help set you on the right path.Want to break through the financial noise and accelerate your journey to $100k? Tune in to the full episode now!IN TODAY’S EPISODE, I DISCUSS: - The significant psychological hurdles in early wealth-building stages- Practical tips to avoid lifestyle inflation and maintain financial discipline- The critical role of insurance and proper risk management in safeguarding your growing assetsRECOMMENDED EPISODES FOR YOU If you liked this episode, you'll love these ones:My Money Planning Process to Achieve Your GoalsHow to Get the Right CPA & Why It MattersDemystifying Your Credit Score & Does It MatterWhat to Do Today to Pay Less Tax and Keep More Money RECOMMENDED VIDEOS FOR YOU If you liked this video, you'll love these ones:My Money Planning Process to Achieve Your Goals: https://youtu.be/Ip7kLKXNj2Y How to Get the Right CPA & Why It Matters: https://youtu.be/zj26Wwqe0bk Demystifying Your Credit Score & Does It Matter: https://youtu.be/emgKYPy6Quw What to Do Today to Pay Less Tax and Keep More Money: https://youtu.be/tZHKIgr_TIM 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.

Apr 25, 2024 • 20min
Investing Advice People Don't Want You To Hear
Are you tired of hearing the same old rapid-fire investment tips that promise overnight riches, but leave you feeling like you're gambling with your life savings?In today's episode, I dive deep into the real talk of investing – the sustainable, no-nonsense strategies that actually build lasting wealth. I'm here to tell you that your journey to financial freedom should be more of a marathon than a sprint. Forget the adrenaline rush; it's about slow, consistent growth over time. Whether the economy is soaring or crashing, these principles hold firm.Ready to learn about the wealth-building advice nobody seems to want to hear but everyone needs to know? Tune in to this eye-opening discussion, and let's straighten out those investment myths.IN TODAY’S EPISODE, I DISCUSS: -Why wealth creation is less about the size of your paycheck and more about your habits and decisions-The astonishing stats on how most millionaires are self-made and didn't rely on large -salaries-The significance of understanding your investments and looking at their long-term track recordsRECOMMENDED EPISODES FOR YOU If you liked this episode, you'll love these ones:What to Do Today to Pay Less Tax and Keep More MoneyWhich is Better High Yield Savings Accounts or CDs?Should You Use a HELOC to Payoff Your Mortgage?How to Get the Right CPA & Why It Matters RECOMMENDED VIDEOS FOR YOU If you liked this video, you'll love these ones:What to Do Today to Pay Less Tax and Keep More Money: https://youtu.be/tZHKIgr_TIM Which is Better High Yield Savings Accounts or CDs?: https://youtu.be/YO3QY6xR3_M Should You Use a HELOC to Payoff Your Mortgage?: https://youtu.be/_2Hu42no2IY How to Get the Right CPA & Why It Matters:https://youtu.be/zj26Wwqe0bk 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.