Welcome to 'Building Your Money Machine,' (fka The Affluent Entrepreneur Show) 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 ...
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Why A Million Dollars Doesn't Make You Rich
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Welcome to another eye-opening episode of the Building Your Money Machine Show! I'm Mel Abraham, your host, and today we’re tackling one of the biggest financial misconceptions - the belief that becoming a millionaire makes you rich. This episode is going to challenge the traditional notion of wealth and set you on the path to true financial freedo…
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The F.U.N.D. Method For Building & Managing Your Emergency Fund
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22:43
Welcome to another exciting episode of the Building Your Money Machine Show. Today's episode is absolutely crucial if the thought of a medical bill, job loss, or major car repair sends a wave of panic through you. We’re talking about building and managing your emergency fund using my F.U.N.D. method—because life happens and you need to be prepared …
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Why Smart People Are Not Always Rich
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18:32
Welcome to another compelling episode of the Building Your Money Machine Show. Have you ever wondered why some of the smartest people struggle with money while others seem to thrive financially despite having, let's just say, less intelligence? Well, this episode is for you. In this episode, I delve into why intelligence alone doesn't guarantee wea…
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Why The F.I.R.E Movement Is A Pipe-dream
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Welcome to another engaging episode of the Building Your Money Machine Show. Today, we're exploring a provocative question — is the F.I.R.E. Movement merely a pipe dream? I've been there, contemplating the idea of extreme frugality to retire decades early. But let's face it, spending all your life sacrificing today's happiness for a distant dream i…
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How To Budget & Save WITHOUT Feeling Trapped
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Welcome to another episode of the Building Your Money Machine Show. Today, we're going to tackle a topic that, while essential, tends to make people cringe: budgeting. Why do most people fail at budgeting, even though it’s one of the most critical tools for building wealth and achieving financial freedom? Many view budgeting like dieting—restrictiv…
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How To Build And Preserve Wealth During a Recession
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Welcome to another empowering episode of the Building Your Money Machine Show! Today, we're breaking down the hype around the economy and recession, and I’m sharing some real, actionable insights on how to build and preserve wealth during such challenging times. The key here is not just survival but thriving, whether the market is up, down, or side…
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Do You Have To Be RUTHLESS To Get Rich?
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Welcome to another thought-provoking episode of the Building Your Money Machine Show. Today, we tackle a question that often lurks in the minds of aspiring entrepreneurs and seasoned business owners alike: "Do You Have To Be RUTHLESS To Get Rich?" Join me, your host Mel Abraham, as we explore the myths and realities around wealth-building and the p…
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Why I No Longer Use Banks (as a millionaire)
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Ready to learn why I no longer use banks despite being a millionaire? In this episode, I dive into the reasons why banks might not be the best place for your money and where you should consider putting it instead. In today's episode of Building Your Money Machine Show, I unpack the operational focus of banks and how their profit-driven priorities c…
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I'm 63. Listen to this for money lessons at any age...
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Welcome to another insightful episode of the Building Your Money Machine Show. Today, we’re diving deep into the financial lessons I wish I had known when I was in my 40s — lessons that can set you on the fast track to financial freedom, regardless of your age. Whether you're in your 20s, 30s, 40s, 50s, or even 60s, this episode is packed with acti…
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It's not just you. Most people won't be financially free
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In today’s episode, I dive into the reality that most people won't achieve financial freedom—and it's not just about the numbers. Let’s look deeper into why 78% of Americans are stuck living paycheck to paycheck, and what we can do about it. I explore the importance of financial literacy and how it’s essential for anyone looking to break free from …
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How To Outsmart The Game of "Money"
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Are you ready to outsmart the game of money? It’s not just about making money; it's about mastering the art of financial strategy! In today’s episode, I delve into the principles that can help you build and sustain wealth. I talk about the power of negotiation and the importance of embracing a win-win mentality. From understanding the true value in…
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What the insurance industry is lying to you about
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Are you ready to uncover the myths and truths behind life insurance? It's time to demystify what the insurance industry might be keeping under wraps! In today’s episode, I dive deep into the world of whole life insurance versus term life insurance. I'll break down the costs, benefits, and potential pitfalls of each type of policy. We'll explore how…
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These Alarming Financial Habits Of The Average American Will Surprise You
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Are you ready to uncover the habits that might be silently eroding your wealth journey? It's not just about how much money you make; it's about the behaviors, choices, and habits that define your financial future! In today’s episode, I dive deep into the alarming financial habits that many of us fall into without even realizing it. From aimless spe…
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Why Saving Your First $10K Can Change Your Life
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Ready to change your financial future with your first $10K? It's not just a small step—it's the start of something monumental! In today's episode, I delve into why saving your first $10K can be a game-changer in your financial journey. I share the inspiring story of Sylvia Bloom—a legal secretary who amassed over $9 million by focusing on key wealt…
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12 Most Common Regrets of Rich People
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Are you ready to uncover the real reasons behind the common regrets of the wealthy? It’s not just about having money; it’s about living a fulfilling, meaningful life! In today’s episode, I dive deep into the 12 most common regrets of rich people and how you can avoid falling into the same traps. From the emptiness that possessions can bring without…
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If I could only buy 4 assets, this is what I would do...
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Ready to build wealth simply and effectively? Say goodbye to convoluted strategies and confusion! In today's episode of the Building Your Money Machine Podcast, I dive into the four key assets I would focus on if I were building wealth from scratch. I share how investing in yourself, diversified ETF's, real estate, and businesses can set you on the…
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9 Assets That Are Making People Rich (2024 and Beyond)
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Ever wonder what sets the financially free apart from the rest of us? It’s all about leveraging the right assets. In today’s episode, I dive deep into the nine assets that are making people rich and allowing them to live lives of choice and freedom. From cash for liquidity and opportunities to the power of index funds and real estate, I cover it al…
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Why You Should Not Buy Life Insurance
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Are you prepared to uncover the truth about life insurance? It's not just about avoiding unnecessary expenses; it's about securing your financial future! In today’s episode, I dispel the myths and clarify the misconceptions surrounding life insurance. I delve into the reasons why you might not need to buy life insurance, the different types of poli…
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10 Things That Are A Complete Waste Of Your Money
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Do you ever feel like you're just throwing money away? It’s time to stop the madness and take control of your financial future! In today’s episode, I dive into 10 things that are a complete waste of your money and how you can avoid them. From the education that doesn't pay off, to the hidden costs of high bank and investment fees, I cover it all. I…
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Financial Advisor Reveals the Worst Things To Do with Your Money
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Understanding how to smartly handle debt can drastically change your financial well-being and reduce stress in your life. In today’s episode, I tackle some of the worst financial decisions you can make and how to avoid them. From the pitfalls of over-leveraging in real estate to neglecting your investment portfolio, I break down what you should ste…
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How Much You Should Save In Your 401K (By Age)
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Are you ready to take control of your retirement savings and ensure you're on the right path to financial freedom? In today’s episode, I dive into the crucial topic of how much you should save in your 401K by age, drawing insights from a comprehensive 23-year Vanguard study involving 5 million participants. Whether you're just starting your career …
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6 Levels Of Thinking If You Want To Get Rich
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Ready to elevate your thinking and unlock the path to financial freedom? In today’s episode, I dive into the six levels of thinking for those who want to get rich. It's not just about the tactics or the strategies; it’s about shifting your mindset. I outline each of the six levels, from survival thinking to legacy thinking, and discuss how masterin…
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Do THIS If You're Feeling Poor
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Do you feel trapped in a job that isn't fulfilling you? Do you feel like there's more you could be doing with your life and your finances? If so, you're not alone, and this episode is for you! In today’s episode, I unveil a powerful framework that has transformed the lives of many of my clients and myself - the Entrepreneur Transition Formula. I'll…
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Once you learn these money lessons, you will never be poor again
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Are you ready to discover the money lessons that can change your financial future forever? It's not just about making money; it's about creating a life you love and achieving true financial freedom! In today’s episode, I dive into the essential money lessons that transformed my relationship with finances and put me on the path to wealth. I emphasiz…
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The Stock Market Collapse Is Not As Scary As You Think
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Are you worried about the recent stock market decline? Don't panic, I've got you covered! In today's episode, I share my perspective on the current market situation and provide proactive strategies for navigating these turbulent times. I discuss the factors contributing to the decline, such as disappointing earnings reports from major companies and…
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How Much Should Your Net Worth Be? (according to your age)
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Are you wondering where you stand on your wealth journey and if you're on track to achieve your financial goals? It's a question that haunts many of us as we navigate the path to financial freedom. In today's episode, I dive into the concept of net worth and break down the numbers based on age, so you can see how you measure up. I reveal the latest…
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Investing $10 a day for 5 years. Here's what happens…
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Ready to see the power of investing just $10 a day? You won't believe how it can add up over time! In today's episode, I take you through the math to show you what happens when you invest a small amount consistently over 5, 20, 25 and even 30 years. I compare investing in VOO (an S&P 500 index fund) vs VTI (a total stock market fund) to demonstrate…
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Financial Armageddon is coming. Here's how you prepare...
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Are you worried about financial Armageddon and how to protect yourself? Don't panic, I'm here to help you prepare! In today's episode, I share my thoughts on the current state of the economy and what it means for your financial future. I break down the factors contributing to economic uncertainty, from high debt levels to market volatility. But mor…
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You can build wealth even if you're in debt... here's how
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Are you wondering if you should start building wealth even if you're in debt? You're not alone! It's a common question with a not-so-simple answer. In today's episode, I dive into the complexities of managing debt while investing for your future. I explore the two personality traits of all debt, the importance of having a debt payment plan, and why…
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For Those Who Are Obsessed With Getting Rich
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Do you dream of financial freedom and living a life of choice? It's not only about making money but also about making the right choices! In today’s episode, I dive deep into what it takes to truly achieve financial liberation and live a rich, fulfilling life. I explore the behaviors, choices, and decisions that contribute to wealth creation. From p…
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Buy THIS To Become Rich in Your 20s (and beyond)
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Want to know the secrets to becoming rich in your 20s and beyond? It's not just about working hard; it's about making smart investments and life choices that set you up for financial liberation. In today’s episode, I dive deep into the eight critical investments I would make if I could go back to my twenties. From maximizing your 401K match to the …
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Is it too Late for You to Get Rich?
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Ever wondered if it's too late for you to achieve financial freedom and get rich? I've got you covered in today’s episode! Join me as I dispel the myth that it’s too late to build wealth. I share insights on how to get started no matter your age or stage in life. From the importance of running your own race to practical steps in investing and wealt…
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Investing Should Not Be Fun... Here's Why
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Are you ready to discover why investing should not be fun if you want to ensure financial success? It's not just about making decisions that feel good, it's about securing your future! In today’s episode, I delve into the critical differences between investing and gambling, emphasizing why emotional decisions can lead to financial disaster. I share…
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401k Mistakes You Didn't Know You Were Making
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Ever wondered if you're making some major mistakes with your 401(k)? You could be losing out on free money or taking on dangerous risks without even knowing it! In today's episode, I dive into the top five mistakes people make with their 401(k) plans and how to steer clear of them. I discuss the importance of participation, the perils of being over…
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5 Things You Should Quit To Simplify Your Finances
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Are you ready to simplify your financial journey and remove the complexities that hinder your path to financial freedom? In today’s episode, I break down five key things you should quit to simplify your finances and achieve consistent wealth building. I dive deep into the pitfalls of meme, trend, and fad investing, and why emotional, speculative de…
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Finance Secrets Accountants Know That Most People Don't
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Ever wondered what financial secrets accountants are hiding? It’s not just about earning more—it’s about making smarter money moves! In today’s episode, I dive deep into seven financial secrets that accountants and advisors know but most people don't. I share insights from decades of experience as a financial advisor, revealing the behaviors and ha…
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Why Most Business Owners Will Never Be Rich
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Are you ready to understand why most business owners will never be rich and how you can avoid their mistakes? It's not just about running a business; it's about building real, sustainable wealth! In today’s episode, I reveal the common pitfalls that keep entrepreneurs from achieving true financial freedom. I discuss why focusing solely on revenues …
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Why Staying Rich Is Harder Than Getting Rich
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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 …
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9 Financial Goals You Must Hit By 40
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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…
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35 Years of Brutally Honest Financial Advice In 57 Mins
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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 wi…
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Change Your Finances in 6 Months (This is How to Make it Happen)
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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 fina…
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Money Lessons I Know at 62 I Wish I Knew at 32
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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 mis…
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My Brutal Advice To Someone Who Wants Financial Freedom
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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 t…
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What It's Like To Have An Automatic Money Machine
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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 f…
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How to Save YOUR First $100k (My Savings Framework)
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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—w…
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How to Become a Millionaire with a Low Income
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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 …
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Why You Need To Start Buying Freedom, Not Things
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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 ma…
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How To (Actually) Build Multiple Streams Of Income
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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 mov…
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7 BIG Investing Regrets (as a Certified Public Accountant)
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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 advis…
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ETF Investing For Beginners (And Novices Too)
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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 crea…
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