Building Your Money Machine

Should I Pay Down My Mortgage or Invest? Another great question that I answer along with others in this episode.I do a live Q&A episode of my show on Instagram weekly called, Money Mentoring Over Coffee. This episode is a segment of that show where I answered specific questions that would be available to those that couldn’t attend. Enjoy and if you have any questions join me on my lives or send me your question at www.AskMelNow.com. QUESTIONS ON THIS EPISODE:07:25 - What is rebalancing your portfolio and when you should do it?16:17 - Should you buy life insurance or disability insurance?21:41 - What to do if you have extra cash? Invest it or make an extra mortgage payment?JOIN THE VIP EXCLUSIVE LIVE EXPERIENCE CALLED THE AFFLUENT ENTREPRENEUR LIVE:It is totally FREE and it will be a 3-part deep dive into money, wealth, and the exact process you need to take control of your financial destiny. Go here to get on the priority VIP list www.AffluenceLive.comTAKE THE FINANCIAL LIBERATION ASSESSMENTTake this free assessment 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.comCONNECT WITH ME:Website: MelAbraham.comYouTube: MelAbraham.com/tube/Instagram (@melabraham9): MelAbraham.com/ig/Facebook Group: MelAbraham.com/group/TikTok: https://www.tiktok.com/@melhabrahamCHECK OUT MY BOOK:“The Entrepreneur's Solution The Modern Millionaire's Path to More Profit, Fans, & Freedom” - melabraham.com/book/ 

The Steps to Financial Freedom...it's a question I get at least a few times a week.As much as I want to help you get to financial freedom, I am more excited about getting you to live an affluent life. Affluence is often confused with opulence but they aren't the same at all. The fact is that an affluent life has 4 factors to it and only one of them has anything to do with money.Once we get clear on how you define your affluent life, you can then walk through the stage to financial freedom. Although financial freedom is typically defined as a a number, the process to get to the number will take you through 4 stages of what I call the financial liberation journey.In this episode, I take you through the key components of an affluent life and the 4 stages of the financial liberation journey so you can see the path to your financial freedom number.★★★ READY FOR AN UNSHAKEABLE FINANCIAL FOUNDATION? ★★★ Join the VIP EXCLUSIVE LIVE Experience called The Affluent Entrepreneur LIVE. It is totally FREE and it will be a 3-part deep dive into money, wealth, and the exact process you need to take control of your financial destiny. Go here to get on the priority VIP list www.AffluenceLive.com ★★★ TAKE THE FINANCIAL LIBERATION ASSESSMENT ★★★Take this free assessment to see where you are on the path to financial freedom and what your next steps to move you to a new financial destiny at http://www.YourFinancialFreedomQuiz.com  ★ RECOMMENDED VIDEOS FOR YOU ★If you liked this video, you'll love these ones:- What To Do With Your Cash - https://youtu.be/voMnEcuFxIY - Getting Out of Debt The Affluence Way - https://youtu.be/WkBJzAnVIZg - Overcome Your Money Stories - https://youtu.be/QOPFrUtUaGo - Pricing & Getting Paid Your Value - https://youtu.be/4ORzXMqofjM 

What do you need to do to build wealth in your 30’s?This special Wealth By the Decade series that was born out of your questions and requests to understand the specific things to focus on depending on your age. In each episode I breakdown the key theme of the decade as well as the primary focus and priorities for the decade that drive wealth. This is about you getting right on the path to financial freedom. Then I give you some decade-specific tactics to execute on and the things to beware of that can destroy your wealth journey.Financial freedom is your birthright and this series will move you forward no matter where you’re starting from.Now before you go skipping to your decade I am going to invite you to start at the beginning to understand how things change through the years and besides you can pass these on to your kids and friends depending on where they are in their journey.IMPORTANT: No one is too late to start wealth building and it is NEVER too early to start. Wherever you are NOW is the best time to create wealth.Each episode is the recipe to follow to get your wealth right on the path to millionaire status.Enjoy and let me know if you have any questions.Happy wealth building!★★★ READY FOR AN UNSHAKEABLE FINANCIAL FOUNDATION? ★★★ Join the VIP EXCLUSIVE LIVE Experience called The Affluent Entrepreneur LIVE. It is totally FREE and it will be a 3-part deep dive into money, wealth, and the exact process you need to take control of your financial destiny. Go here to get on the priority VIP list www.AffluenceLive.com 

Sometimes it seems like it’s easier to create excuses than solutions. When it comes to money, I see my students constantly finding the same excuses to avoid taking full control of their financial future.Throughout the years, I've found that there are seven recurring excuses that people use to avoid going after their dreams and goals. I have also found, however, how to break through them so you can get your money to work harder for you. My goal? To help you make your money work harder for you than you ever did for it. You may believe that things are hard because there are some obstacles in your way, but you also may be forgetting that everything is hard at first. If you take action while being patient and consistent, you will end up achieving your goal: financial freedom.If you are anything like me, I bet you will be able to relate to one or more of these excuses. Yep, I had some of the same excuses but found a way to overcome them. Here’s the insidious thing though…I didn’t realize they were excuses until someone pointed them out to me. Let’s do this together. Remember, when it comes down to saving, investing, and building your wealth, the best moment to start is NOW.  Today our conversation includes:The 7 excuses that prevent you from achieving financial freedom.How to break through the excuses to build your affluence vision.4 things that are going to drive your wealth.Join the VIP EXCLUSIVE LIVE Experience called The Affluent Entrepreneur LIVE:It is totally FREE and it will be a 3-part deep dive into money, wealth, and the exact process you need to take control of your financial destiny. Go here to get on the priority VIP list www.AffluenceLive.com Connect with me:Website: MelAbraham.comYouTube: MelAbraham.com/tube/Instagram (@melabraham9): MelAbraham.com/ig/Facebook Group: MelAbraham.com/group/TikTok: https://www.tiktok.com/@melhabraham Check out my book:“The Entrepreneur's Solution The Modern Millionaire's Path to More Profit, Fans, & Freedom” - melabraham.com/book/ 

Making a Lot of Money Doesn't Guarantee Wealth!In fact, the amount of money you make has far less to do with your ability to create wealth than you think. A recent study of over 10,000 millionaires (Dave Ramsey) showed that the majority of millionaires in the study were making  less than $150,000 a year. Too often we are solely focused on on acquiring assets instead skill sets. It is the skill sets that will transform your financial destiny forever.In this episode, I dive into what to focus on and what happens if you don't get this right. It can be devastating for sure.★★★ READY FOR AN UNSHAKEABLE FINANCIAL FOUNDATION? ★★★ Join the VIP EXCLUSIVE LIVE Experience called The Affluent Entrepreneur LIVE. It is totally FREE and it will be a 3-part deep dive into money, wealth, and the exact process you need to take control of your financial destiny. Go here to get on the priority VIP list www.AffluenceLive.com 

What do you need to do to build wealth in your 20’s?This special Wealth By the Decade series that was born out of your questions and requests to understand the specific things to focus on depending on your age. In each episode I breakdown the key theme of the decade as well as the primary focus and priorities for the decade that drive wealth. This is about you getting right on the path to financial freedom. Then I give you some decade-specific tactics to execute on and the things to beware of that can destroy your wealth journey.Financial freedom is your birthright and this series will move you forward no matter where you’re starting from.Now before you go skipping to your decade I am going to invite you to start at the beginning to understand how things change through the years and besides you can pass these on to your kids and friends depending on where they are in their journey.IMPORTANT: No one is too late to start wealth building and it is NEVER too early to start. Wherever you are NOW is the best time to create wealth.Each episode is the recipe to follow to get your wealth right on the path to millionaire status.Enjoy and let me know if you have any questions.Happy wealth building!★★★ READY FOR AN UNSHAKEABLE FINANCIAL FOUNDATION? ★★★ Join the VIP EXCLUSIVE LIVE Experience called The Affluent Entrepreneur LIVE. It is totally FREE and it will be a 3-part deep dive into money, wealth, and the exact process you need to take control of your financial destiny. Go here to get on the priority VIP list www.AffluenceLive.com 

Social media has become a big part of our daily lives. We’re constantly sharing and consuming information from all over the world, which ends up becoming part of our routines, habits, and thoughts.Although we think it doesn’t affect us, it does. Social media has created a phenomenon in which we’re comparing ourselves to other people all the time because we’re thinking about social media metrics as a self-worth metric.Sometimes we start thinking that if we don’t have what people show us on their social media pages, then we are not special or worthy. Let me tell you–that is simply not true. This problem doesn’t only affect how you see yourself but also how you interact with the world around you, especially in financial terms. We need to take time to understand what we are seeing, filter the information we are consuming, and untangle what we define as the truth on social media. That's why, in this episode, I'm giving you a few tricks to avoid being caught up in the social media trap so you can make better, more informed choices that match your unique Affluence Blueprint.Today our conversation includes:The tools social media uses to stalk usWhat is costing you in terms of the richness of your life AND the wealth you want to createA few steps to keep you safe from social mediaJoin the VIP EXCLUSIVE LIVE Experience called The Affluent Entrepreneur LIVE:It is totally FREE and it will be a 3-part deep dive into money, wealth, and the exact process you need to take control of your financial destiny. Go here to get on the priority VIP list www.AffluenceLive.com Resources mentioned: Ep 19: “Creating Your Money Machine”Ep 24: “What To Do With Your Cash”Connect with me:Website: MelAbraham.comYouTube: MelAbraham.com/tube/Instagram (@melabraham9): MelAbraham.com/ig/Facebook Group: MelAbraham.com/group/TikTok: https://www.tiktok.com/@melhabrahamCheck out my book:“The Entrepreneur's Solution The Modern Millionaire's Path to More Profit, Fans, & Freedom” - melabraham.com/book/ 

Your business is not a good wealth plan!Here’s what know if you’re anything like me, you came into your business because you wanted to serve but you also expected it to give you freedom and wealth.Quickly you find yourself on the treadmill running hard and fast with everything invested (time, effort AND money) but with very little wealth or freedom.It is the biggest mistake and misconception most entrepreneurs have as they try to grow their wealth. The other issue is that everything is relying on you and your effort while having any and all wealth captive in the business and nothing outside of it.Imagine for a moment being able to have the business but also have enough wealth that the operation and profitability of the business no longer matters and doesn’t define your life.The missing piece is that as you grow your business you also need to build a money machine outside the business. It is the money machine that gives you the control, freedom and true wealth.In this episode, I talk through this in depth so you can get yourself finally on the right path to financial freedom. With this you have options and choice in your life. You then have the ability to live a “get to” life instead of a “have to’ life.Let’s do this!★★★ READY TO BUILD YOUR UNSHAKEABLE FINANCIAL FOUNDATION? ★★★Join the VIP EXCLUSIVE LIVE Experience called The Affluent Entrepreneur LIVE. It is totally FREE and it will be a 3-part deep dive into money, wealth, and the exact process you need to take control of your financial destiny. Go here to get on the priority VIP list www.AffluenceLive.com  ★★★ TAKE THE FINANCIAL LIBERATION ASSESSMENT ★★★Take this free assessment to see where you are on the path to financial freedom and what your next steps to move you to a new financial destiny at http://www.YourFinancialFreedomQuiz.com  ★ RECOMMENDED VIDEOS FOR YOU ★If you liked this video, you'll love these ones:- What To Do With Your Cash - https://youtu.be/voMnEcuFxIY - Getting Out of Debt The Affluence Way - https://youtu.be/WkBJzAnVIZg - Overcome Your Money Stories - https://youtu.be/QOPFrUtUaGo - Pricing & Getting Paid Your Value - https://youtu.be/4ORzXMqofjM ★ OTHER RESOURCES ★- 7 Day Money Plan Workshop: https://www.TheMoneyPlanWorkshop.com   - Affluent Entrepreneurs Private Facebook Group https://www.melabraham.com/group/- My website https://melabraham.com/- Book: Mel H. Abraham - The Entrepreneur's Solution: The Modern Millionaire's Path to More Profit, Fans and Freedom https://www.melabraham.com/book/- Find me on Facebook https://www.facebook.com/melhabraham/- Find me on Instagram https://www.instagram.com/melabraham9/- Find me on LinkedIn https://www.linkedin.com/in/melhabraham/- Find me on Twitter https://twitter.com/MelHAb- Find me on YouTube http://www.youtube.com/user/MelHAbraham

Get ready to welcome one of my very first guests to the show, Bobby Goodwin, who was part of my “money plan workshop”. Today we’re discussing how this workshop helped him get on his journey to financial freedom.You’ll hear about how he turned the tables and grabbed ahold of his financial ship, little by little, by creating a plan, tackling debt, and starting to work on creating wealth.Bobby is sharing all the steps he took to go from his “drowning point” to his “breakthrough point”. As Bobby, the steps you take don’t have to be big, because small steps become grand overtime and make a real difference in the whole process of your financial journey.Today our conversation includes: What our current financial situation looks likeThe steps towards our financial freedomHow to face debtMaking the best plan to get out of debtThe concept of leapfrog funding, and we take some of our income to make different paymentsResources mentioned:Episode 040 Getting Out of Debt the Affluence Way: https://podcasts.apple.com/us/podcast/040-getting-out-of-debt-the-affluence-way/id955356128?i=1000545517792Ready to set an unshakeable financial foundation?Join the VIP EXCLUSIVE LIVE Experience called The Affluent Entrepreneur LIVE. It is totally FREE and it will be a 3-part deep dive into money, wealth, and the exact process you need to take control of your financial destiny. Go here to get on the priority VIP list www.AffluenceLive.com Connect with me:Website: MelAbraham.comYouTube: MelAbraham.com/tube/Instagram (@melabraham9): MelAbraham.com/ig/Facebook Group: MelAbraham.com/group/TikTok:https://www.tiktok.com/@melhabraham Connect with Bobby Goodwin:Website: https://www.cosmicrecode.com/homeFacebook:  https://www.facebook.com/thebobbyagoodwin Check out my book:“The Entrepreneur's Solution The Modern Millionaire's Path to More Profit, Fans, & Freedom” - melabraham.com/book/

You need to give your money a purpose beyond the currency it represents. The fact is that those that have a purpose behind their money find that their ability to create wealth is higher.My guess is that at some point you have wondered about your purpose, meaning, and what will make you truly happy. Finding that answer and the why behind it is not always easy. The reality is money is simply one of the tools you can use to fulfill your purpose or get behind a movement or mission. The other thing is to realize as life changes your purpose can change, along with the set of tools you’ll require to continue to move towards your purpose. The fact is that money is always a result and never a purpose in and of itself; rather, it’s a driving force, the fuel that allows you to live your purpose,  find financial freedom, and create an affluent lifestyle.In this episode, I share with you some steps you can take to make your money work FOR you. I also want to help you understand how you can determine your purpose based on the context that you are living in because purpose is not a destination, it’s a journey that can as you and your goals do. Today our conversation includes:My definition of purpose.Three things that can help you understand what your purpose is.A framework to give your dollars a task.How to apply the three phases of the Wealth Priority Ladder in your life.Ready to set an unshakeable financial foundation?Join the VIP EXCLUSIVE LIVE Experience called The Affluent Entrepreneur LIVE. It is totally FREE and it will be a 3-part deep dive into money, wealth, and the exact process you need to take control of your financial destiny. Go here to get on the priority VIP list www.AffluenceLive.com Connect with me:Website: MelAbraham.comSubmit Your Questions: AskMelNow.com YouTube: MelAbraham.com/tube/Instagram (@melabraham9): MelAbraham.com/ig/Facebook Group: MelAbraham.com/group/TikTok: https://www.tiktok.com/@melhabrahamCheck out my book:“The Entrepreneur's Solution The Modern Millionaire's Path to More Profit, Fans, & Freedom” - melabraham.com/book/