Building Your Money Machine

With tax rates approaching 40-50% in some states, every dollar saved is significant. What can you do right now to reduce your tax bill and keep more of your hard-earned money?In this episode, I share a checklist of 10 impactful tax strategies to consider implementing before December 31st. From reviewing your income and expenses to maximizing retirement savings and potentially converting IRAs to Roth, learn practical tips that may help lower your tax obligation and increase your take-home pay.The time to act is now. Let's make sure you're not overpaying in taxes and that you're on the path to a more prosperous financial future. So, join me as I uncover the secrets to paying less tax and keeping more of your hard-earned money.IN TODAY’S EPISODE, I DISCUSS: Updating wills and trusts for life eventsTax advantages of S corporation over LLCReviewing income and expenses for tax planningRECOMMENDED EPISODES FOR YOU If you liked this episode, you'll love these ones:Annuities...Investment, Insurance or ScamWhat to Do Now to Lower Taxes Before Year EndQ&A Why Taking a 401K Loan Can Destroy Your WealthMy Favorite Investing Accounts (And How to Maximize Your Returns)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  OTHER RESOURCES:7-Day Money Plan Workshop: https://www.TheMoneyPlanWorkshop.comAffluent Entrepreneurs Private Facebook Group https://www.melabraham.com/group/CONNECT WITH ME:Website: MelAbraham.comYouTube: MelAbraham.com/tubeInstagram (@melabraham9): MelAbraham.com/igFacebook Group: MelAbraham.com/group/TikTok: https://www.tiktok.com/@melhabrahamGET MY BOOK:“The Entrepreneur's Solution The Modern Millionaire's Path to More Profit, Fans, & Freedom” – melabraham.com/book/

Are annuities the key to creating wealth and financial security, or are they just another scheme? Get ready as we dive into the world of annuities and uncover the truth behind this controversial financial product.In this episode, I’ll discuss the pros and cons of annuities and the potential pitfalls to watch out for when considering this financial product.We’ll talk about the need for entrepreneurs to create success beyond wealth and how annuities can provide a steady stream of income. I’ll delve into the different types of annuities, their issues, and the importance of understanding the fees and complex structures associated with them. And, I’ll share real-life examples and cautionary tales to help you make informed decisions.Whether you're striving to safeguard your financial future or seeking clarity on whether annuities align with your investment goals, don't miss this episode. Tune in to gain valuable insights and safeguard yourself against potential scams or costly missteps.IN TODAY’S EPISODE, I DISCUSS: The different types of annuities and their pitfallsThe need for success beyond wealth and how annuities can play a roleThe importance of understanding fees and complex structuresRECOMMENDED EPISODES FOR YOU If you liked this episode, you'll love these ones:Q&A Why Taking a 401K Loan Can Destroy Your WealthMaking Sense of Life Insurance - What to Avoid!Using Target Date Index Funds to Build WealthMy Favorite Investing Accounts (And How to Maximize Your Returns)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  OTHER RESOURCES:7-Day Money Plan Workshop: https://www.TheMoneyPlanWorkshop.comAffluent Entrepreneurs Private Facebook Group https://www.melabraham.com/group/CONNECT WITH ME:Website: MelAbraham.comYouTube: MelAbraham.com/tubeInstagram (@melabraham9): MelAbraham.com/igFacebook Group: MelAbraham.com/group/TikTok: https://www.tiktok.com/@melhabrahamGET MY BOOK:“The Entrepreneur's Solution The Modern Millionaire's Path to More Profit, Fans, & Freedom” – melabraham.com/book/

As the year-end is closing in, it's a great time to chat about how to keep more of your hard-earned cash in your pocket.By making some clever money moves before December 31, you can seriously cut down on what you owe when tax season rolls around.In this episode, I’ll guide you through strategic steps to minimize your tax burden. We'll discuss reviewing expenses, verifying classifications, and maximizing deductions. And, we'll delve into the benefits of retirement plans, charitable donations, and the intricacies of crypto transactions.Being proactive in your tax strategy can result in more money in your pocket and help you achieve your financial goals. So, stick around to find out what you can do now to max out your deductions and minimize your tax worries before the year's up.IN TODAY’S EPISODE, I DISCUSS: Reviewing expenses and correct classificationHow Section 179 impact equipment expenses and potential tax deductionsConsulting a tax advisor for deductions and strategiesRECOMMENDED EPISODES FOR YOU If you liked this episode, you'll love these ones:Q&A Why Taking a 401K Loan Can Destroy Your WealthMaking Sense of Life Insurance - What to Avoid!Using Target Date Index Funds to Build WealthDoing Nothing with Your Money Isn't An Option!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  OTHER RESOURCES:7-Day Money Plan Workshop: https://www.TheMoneyPlanWorkshop.comAffluent Entrepreneurs Private Facebook Group https://www.melabraham.com/group/CONNECT WITH ME:Website: MelAbraham.comYouTube: MelAbraham.com/tubeInstagram (@melabraham9): MelAbraham.com/igFacebook Group: MelAbraham.com/group/TikTok: https://www.tiktok.com/@melhabrahamGET MY BOOK:“The Entrepreneur's Solution The Modern Millionaire's Path to More Profit, Fans, & Freedom” – melabraham.com/book/

Are you considering taking a loan from your 401(k) retirement account? While it might seem like a quick fix to financial challenges, it's essential to understand the potential consequences.In this episode, I’ll discuss the three most important things you need to know about taking a 401K loan: the automated payment process, the Wealth Priority Ladder, and the potential consequences of not being able to repay the loan.We’ll also talk about how setting up automated payments for your 401K loan can seem like a convenient and hassle-free way to pay back the borrowed funds. However, we’ll delve into why relying on this automated process might not be as beneficial as it initially appears.If you're looking to achieve long-term financial freedom, it's essential to understand the potential pitfalls of taking a 401K loan. Join me in this episode to learn more and make informed decisions about your financial future.IN TODAY’S EPISODE, I DISCUSS: The automated payment process for 401K loansThe importance of the wealth priority ladder in financial planningThe potential consequences of not being able to repay a 401K loanRECOMMENDED EPISODES FOR YOU If you liked this episode, you'll love these ones:Making Sense of Life Insurance - What to AvoidUsing Target Date Index Funds to Build WealthHow to Invest in ETFs & Index Fund to Create WealthMy Favorite Investing Accounts (And How to Maximize Your Returns)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  OTHER RESOURCES:7-Day Money Plan Workshop: https://www.TheMoneyPlanWorkshop.comAffluent Entrepreneurs Private Facebook Group https://www.melabraham.com/group/CONNECT WITH ME:Website: MelAbraham.comYouTube: MelAbraham.com/tubeInstagram (@melabraham9): MelAbraham.com/igFacebook Group: MelAbraham.com/group/TikTok: https://www.tiktok.com/@melhabrahamGET MY BOOK:“The Entrepreneur's Solution The Modern Millionaire's Path to More Profit, Fans, & Freedom” – melabraham.com/book/

I get it, trying to wrap your head around life insurance can be pretty overwhelming with all the different choices out there.But let's keep it real and break it down. We're going to figure out what you should really be on the lookout for in a life insurance policy and steer clear of some common mistakes.In this episode, I'll break down the different policy options and dispel the misconception that life insurance is all about making an investment. Even more importantly, I'll point out some traps you should avoid so you don't end up buying something you don't need.Remember, life insurance isn't a one-size-fits-all solution. It's designed for a specific purpose, so you should tailor it to your own needs and goals. Skip the flashy ads and complex schemes, and focus on a simple, straightforward financial plan that suits you.So, give this episode a listen for a deep dive into the world of life insurance.IN TODAY’S EPISODE, I DISCUSS: The pros and cons of term life insuranceThe benefits and drawbacks of whole life insuranceHow to avoid getting caught in misleading investment claimsRECOMMENDED EPISODES FOR YOU If you liked this episode, you'll love these ones:Using Target Date Index Funds to Build WealthHow to Invest in ETFs & Index Fund to Create WealthMy Favorite Investing Accounts (And How to Maximize Your Returns)Why Knowing Your Financial Numbers is Vital to Your FutureTAKE 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  OTHER RESOURCES:7-Day Money Plan Workshop: https://www.TheMoneyPlanWorkshop.comAffluent Entrepreneurs Private Facebook Group https://www.melabraham.com/group/CONNECT WITH ME:Website: MelAbraham.comYouTube: MelAbraham.com/tubeInstagram (@melabraham9): MelAbraham.com/igFacebook Group: MelAbraham.com/group/TikTok: https://www.tiktok.com/@melhabrahamGET MY BOOK:“The Entrepreneur's Solution The Modern Millionaire's Path to More Profit, Fans, & Freedom” – melabraham.com/book/

When you're just starting out, and you're wondering where to invest your hard-earned cash, what do you do? Individual stocks? Mutual funds? Index ETFs? It can be overwhelming, I know.In this episode, we're going to simplify your decision-making process and introduce you to a safe and effective way to build wealth - target date index funds.I’m going to walk you through what target date index funds are, how they're used, why they're important, and when you should use them. You won't want to miss this!If you're looking to simplify your investment strategy and build wealth in a safe way, target date index funds are the way to go. Join me in this episode to learn all about them and take control of your financial future.IN TODAY’S EPISODE, I DISCUSS: Understanding risk profiles and their impact on investingThe drawbacks of investing in individual stocksThe benefits of target date index fundsRECOMMENDED EPISODES FOR YOU If you liked this episode, you'll love these ones:Demystifying Your Credit Score & Does It MatterHow to Invest in ETFs & Index Fund to Create WealthMy Favorite Investing Accounts (And How to Maximize Your Returns)How the Top 1% Earners Accelerate Their Wealth (It's Not By Getting a Raise)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  OTHER RESOURCES:7-Day Money Plan Workshop: https://www.TheMoneyPlanWorkshop.comAffluent Entrepreneurs Private Facebook Group https://www.melabraham.com/group/CONNECT WITH ME:Website: MelAbraham.comYouTube: MelAbraham.com/tubeInstagram (@melabraham9): MelAbraham.com/igFacebook Group: MelAbraham.com/group/TikTok: https://www.tiktok.com/@melhabrahamGET MY BOOK:“The Entrepreneur's Solution The Modern Millionaire's Path to More Profit, Fans, & Freedom” – melabraham.com/book/

As many of you might know, I just finished my annual Affluent Entrepreneur Experience. It's a live experience that I do, offering free deep-dive training on the processes, the priorities, and the principles of building a money machine, and how to find your path to financial freedom. This year, I've noticed a significant amount of fear, uncertainty, and angst among people when it comes to making decisions about their financial future. In this episode, I want to explore this issue and provide insights on how to navigate it.Join me as we explore the wealth flatline, the power of time and consistency, and the behaviors needed to create lasting wealth. We'll discuss the common fears and uncertainties that hold people back from taking control of their finances and share strategies to overcome them. I'll also emphasize the importance of consistency in building wealth and how they can help you break free from financial stagnation.Don't let uncertainty hold you back; start making informed choices today. Your financial freedom is your birthright, and it's within your reach.IN TODAY’S EPISODE, I DISCUSS: The consequences of doing nothing with your moneyThe concept of the wealth flatline and its impactHow fear and uncertainty hold people back from making financial decisionsRECOMMENDED EPISODES FOR YOU If you liked this episode, you'll love these ones:EXCLUSIVE: Building Your Money Machine For Financial Freedom - PART 1EXCLUSIVE: Building Your Money Machine For Financial Freedom - PART 2EXCLUSIVE: Building Your Money Machine For Financial Freedom - PART 3Create a Money Machine for Financial FreedomTAKE 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  OTHER RESOURCES:7-Day Money Plan Workshop: https://www.TheMoneyPlanWorkshop.comAffluent Entrepreneurs Private Facebook Group https://www.melabraham.com/group/CONNECT WITH ME:Website: MelAbraham.comYouTube: MelAbraham.com/tubeInstagram (@melabraham9): MelAbraham.com/igFacebook Group: MelAbraham.com/group/TikTok: https://www.tiktok.com/@melhabrahamGET MY BOOK:“The Entrepreneur's Solution The Modern Millionaire's Path to More Profit, Fans, & Freedom” – melabraham.com/book/

As technology continues to reshape the business landscape, entrepreneurs are constantly seeking innovative strategies to stay ahead of the game. This episode offers a deep dive into one such strategy: conversational marketing.I had the pleasure of speaking with Natasha Willis, co-founder of the School of Bots. This fantastic platform has proven to be a game-changer for our business, and I can't wait to share the insights with you.During our conversation, Natasha Willis unveiled a transformative concept – how you can revolutionize your business in just 45 days with conversational marketing. But that's not all; she shared the specific content pieces that have generated an astonishing $700,000 in sales and amassed an impressive 31,000 leads. Yes, you read that correctly!We also delve into the art of adding value and building authentic relationships on social media. And here's the golden nugget: automated conversations at scale are the key to unlocking consistent and profitable growth for your business.So dive into this episode and discover tools and strategies that could be the key to your business's next big leap. IN TODAY’S EPISODE, I DISCUSS: Shifting focus from sales to organic conversationCombining technology with psychology for effective communicationSimplifying the opt-in process for higher conversionsCONNECT WITH NATASHA WILLIS:Know more about Natasha Willis: https://www.linkedin.com/in/natashatakahashiAccess Live Masterclass on content strategies: https://melabraham.com/botsKnow more about School of Bots: https://schoolofbots.co/welcomeDrop Natasha a DM on Instagram and mention this episode: https://www.instagram.com/natashatwillisRECOMMENDED EPISODES FOR YOU If you liked this episode, you'll love these ones:Path to Richness As Digital Business Owner with James WedmoreUsing Video For Profits & Income With Sean CannellHow Community Drives Sales, Profit & Wealth With Lindsey SchwartzHow the Top 1% Earners Accelerate Their Wealth (It's Not By Getting a Raise)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  OTHER RESOURCES:7-Day Money Plan Workshop: https://www.TheMoneyPlanWorkshop.comAffluent Entrepreneurs Private Facebook Group https://www.melabraham.com/group/CONNECT WITH ME:Website: MelAbraham.comYouTube: MelAbraham.com/tubeInstagram (@melabraham9): MelAbraham.com/igFacebook Group: MelAbraham.com/group/TikTok: 

It's not uncommon for family members to have differing views and habits when it comes to finances. That said, addressing these differences and finding common ground is important for a harmonious family life. In a recent special episode, I had the privilege of being interviewed by The Good In Media on this very subject, and I'm thrilled to share the insights from that conversation with you.We covered a wide range of topics, including how to navigate discussions about finances with your children, the unique challenges faced by men as providers, and the dynamics of managing money as a couple. These conversations are helpful because they lay the foundation for a harmonious financial journey.I invite you to listen to the full interview. It's packed with insights and actionable advice that can transform the way you handle money in your family.IN TODAY’S EPISODE, I DISCUSS: The dynamics of managing money as a coupleNavigating money conversations with childrenThe concept of balance vs. harmony in life and workRECOMMENDED EPISODES FOR YOU If you liked this episode, you'll love these ones:The Tipping Points to My Wealth Journey with Corene PhelpsGetting Your Partner on the Same Money PageMy Greatest Money Lesson Came from a 6-Year OldHow Money Conversations Can Strengthen Your Marriage with Corinne AcamporaTAKE 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  OTHER RESOURCES:Special Live Training: https://www.affluencelive.comPrivate Money Mentoring Coffee Chats: https://melabraham.com/coffee7-Day Money Plan Workshop: https://www.TheMoneyPlanWorkshop.comAffluent Entrepreneurs Private Facebook Group https://www.melabraham.com/groupCONNECT WITH ME:Website: MelAbraham.comYouTube: MelAbraham.com/tube/Instagram (@melabraham9): MelAbraham.com/ig/Facebook Group: MelAbraham.com/group/TikTok: https://www.tiktok.com/@melhabrahamGET MY BOOK:“The Entrepreneur's Solution The Modern Millionaire's Path to More Profit, Fans, & Freedom” – melabraham.com/book

Have you ever felt a deep longing for more in life? More than just the ordinary routine, but a yearning for greater fulfillment, a stronger impact, and yes, even more wealth?We all have dreams and aspirations that go beyond the ordinary, and sometimes it feels like there must be a secret formula to unlock those desires. Well, the answer may lie within the power of personal branding.One person who understands the value and importance of personal branding is Rory Vaden, a renowned expert in the psychology of influence. Through his company, Brand Builders Group, Rory has helped countless mission-driven messengers elevate their income, accelerate their wealth, and make a significant impact.With Rory's insights, we can uncover the secrets to creating a personal brand that not only brings financial rewards, but also fulfills our deepest sense of purpose.I don't want to give away too much, but if this sounds like something you need to hear, then you absolutely can't miss this episode. Whether you're just starting out or you're an established figure with a large following, the insights shared by Rory will help you identify your uniqueness and build your personal brand in a way that resonates with your audience.IN TODAY’S EPISODE, I DISCUSS: Reputation formula and personal brandingFinding uniqueness through brand DNA processBrand Builders Group: Services Offered, Clients, and Strategy ConversationCONNECT WITH RORY VADEN: Know more about Rory Vaden: https://www.linkedin.com/in/roryvadenTo Get a FREE Brand Call: https://freebrandcall.com/melabraham/ Learn more about Brand Builders Group: https://brandbuildersgroup.comRECOMMENDED EPISODES FOR YOUIf you liked this episode, you'll love these ones:Make More Money by Getting Paid More for What You KnowHow Frameworks Drive Value, Revenues & Profits with Shana BresnahanCapturing the Affluence Vision for Your LifeStop Your Fears From Stealing Your Financial Dreams!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  OTHER RESOURCES:Learn more about Brand Builders Group: https://brandbuildersgroup.comRequest a FREE strategy call: https://freebrandcall.com/melabraham7-Day Money Plan Workshop: https://www.TheMoneyPlanWorkshop.comAffluent Entrepreneurs Private Facebook Group https://www.melabraham.com/group/CONNECT WITH ME:Website: MelAbraham.comYouTube: MelAbraham.com/tube/Instagram (@melabraham9): MelAbraham.com/ig/Facebook Group: