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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 actionable advice to help you navigate the path to wealth more effectively.At 63 years young, I reflect on the 11 critical strategies I would have shared with my 40-year-old self. From the importance of automation in saving and investing, to maximizing tax-advantaged accounts, and getting serious about diversification, I cover it all. We’ll talk about investing in skills, prioritizing your future over material possessions, being selective about debt, and knowing your number for financial freedom.I also emphasize the importance of balancing health and wealth, getting comfortable with risk, and finding the right mentors and coaches to guide you. Buckle up for an epis

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 the paycheck-to-paycheck cycle. You'll discover the four key characters in our economic system: Conspicuous Consumers, Constant Producers, Business Creators, and Machine Constructors. Spoiler: Wealth isn't built through constant consumption or labor alone; it’s from savvy business creation and investing.Don’t let poor financial habits or fear of making money mistakes stop you. I break down the seven critical elements to overcome for financial success, and why having a vision, strategy, and actionable plan is crucial.Ready to take control of your financial future and live a life by design? Tune in now!IN TODAY’S EPISODE, I DISCUSS:Why most people

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 transactions to practicing regular money audits, I share actionable strategies that wealthy individuals use to keep their financial health in check. We also explore the significance of frugality and investing in assets that bring long-term growth and cash flow.If you’re looking to transform your financial habits, make smarter investments, and truly enjoy the journey to financial freedom, tune in to the full episode now!IN TODAY’S EPISODE, I DISCUSS: The philosophy of negotiation and turning it into a win-win gameHow to focus on the value received rather than just the costThe importance of conducting regular money audits to track your financial healthRECOMMENDED

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 investing the premium differences in an S&P 500 Index Fund could potentially lead to significant financial growth over time. And of course, I'm shedding light on some common false claims made by the life insurance industry.Looking to make informed decisions about your financial future and understand the real impact of life insurance on your wealth? This episode is a must-listen!IN TODAY’S EPISODE, I DISCUSS: Evaluating whole life insurance versus term life insuranceThe true cost implications of whole life policiesHow investing in the S&P 500 can grow your wealthRECOMMENDED EPISODES FOR YOU If you liked this episode, you'll love these

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 spending to normalizing debt, I break down these detrimental practices and provide actionable solutions to reverse the damage. I walk you through essential steps to get intentional with your money, prioritize investing, track your numbers, and much more, so you can claim the financial freedom that is your birthright.Want to take control of your financial destiny and pave your way to wealth? Tune in to the full episode now!IN TODAY’S EPISODE, I DISCUSS: The importance of intentional spending and setting financial goals The impact of financial literacy on your money journey Prioritizing investing over lifestyle spendingRECOMMENDED EPISODES FOR YOU If you liked t

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 wealth drivers. You'll learn why it's not about how much you make but what you do with your money that matters. We break down the four crucial wealth drivers that will propel your financial journey and discuss how building this initial $10K infuses you with skills, habits, and a mindset destined for wealth.Want to transform your financial future and master the money game? Tune in to the full episode now!IN TODAY’S EPISODE, I DISCUSS: The importance of the first $10K in your financial journey Sylvia Bloom's inspiring journey from modest salary to millionaire The four critical wealth drivers: income, savings rate, returns, and time RECOMMENDED

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 meaningful relationships to the significance of prioritizing health over success, I cover it all. I also share my personal experiences and valuable lessons learned from decades of advising people on building both wealth and a rich life.Want to master money and live a life of true richness? Tune in to the full episode now!IN TODAY’S EPISODE, I DISCUSS: The emptiness of wealth without relationships or experiences The joyless journey of focusing solely on end goals rather than the process The critical importance of maintaining health alongside successRECOMMENDED EPISODES FOR YOU If you liked this episode, you'll love these ones:Why Staying Rich Is Harder Than Gett

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 path to financial freedom. Learn how to align these investments with your lifestyle, leverage your expertise, and make informed decisions for sustainable wealth creation.Want to master your finances and live a life by choice? Tune in to the full episode now!IN TODAY’S EPISODE, I DISCUSS: The importance of investing in yourself and your intellectual propertyThe benefits of diversified ETF's and index funds, from liquidity to low feesWhy real estate, bought at the right time, offers unique advantagesRECOMMENDED EPISODES FOR YOU If you liked this episode, you'll love these ones:Why Staying Rich Is Harder Than Getting RichFinancial Armageddon is comi

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 all. Plus, I’ll share the story of how a six-year-old highlighted the importance of breaking free from the earnings-efforts treadmill.If you're ready to start building your money machine and want to understand how to invest in assets that separate your earnings from the effort to earn them, this episode is for you!IN TODAY’S EPISODE, I DISCUSS: The significance of having cash reserves for emergencies and opportunitiesThe benefits and risks of bonds and stocksWhy mutual funds and ETF’s are safer picks for beginners RECOMMENDED 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

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 policies available, and the factors you need to consider before making a decision. From term policies to permanent life insurance, I break it all down to help you make an informed choice that supports your dreams and protects your loved ones.Don’t get taken for a ride with misleading advice—take control of your financial planning and protect your family's future. Tune in to the full episode now!IN TODAY’S EPISODE, I DISCUSS: The primary reasons for having life insurance and when it’s truly necessary The differences between term life insurance and permanent life insurance The pitfalls of permanent life insurance, including hidden fees and commissions RECOMM

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 also go into why lottery tickets and gambling never add up, why convenience stores might as well be called overpriced stores, and the pitfalls of buying a home that doesn’t fit your financial reality.I share insights on the impact of behaviors, habits, and societal pressures on our financial decision-making. This episode also addresses the dangers of high-interest debt and the true cost of luxury purchases. Plus, I give you tips on avoiding the trap of impulse buying and poorly thought-out timeshares.Looking to understand where your money is leaking and how to redirect it towards a richer lifestyle and wealth-building? You won't want to miss this!IN T

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 steer clear of to maintain financial health. I share personal stories, including a costly investment mistake I made, to highlight the importance of every decision in your financial journey.Want to achieve financial freedom and avoid common money mistakes? Tune in to the full episode now!IN TODAY’S EPISODE, I DISCUSS: Smart use of debt and the perils of over-leveraging The necessity of regularly reviewing and rebalancing your investment portfolioWhy diversification is crucial for mitigating financial riskRECOMMENDED 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

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 or planning your retirement, you'll find valuable information on setting realistic financial goals, maximizing those employer matches, and the astonishing impact of early contributions.You'll learn why saving and investing rates trump high incomes, and how tiny steps now can lead to sizable wealth in the future. It's not just about hitting those numbers; it's about aligning your financial strategy with your life goals and building a life of choice and freedom.Looking to master your financial journey and make informed decisions about your retirement savings? Tune in to the full episode now!IN TODAY’S EPISODE, I DISCUSS: The importance of

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 mastering these levels can transform your financial behaviors and results. Whether you're just starting out and focused on immediate needs or you're ready to think about generational wealth and legacy, this episode is packed with valuable insights that can take your financial journey to the next level.Want to transition to a higher level of thinking and create lasting wealth? Tune in to the full episode now!IN TODAY’S EPISODE, I DISCUSS: The survival level of thinking and its focus on immediate needsThe shift to safety thinking and the decrease in financial stressAchieving comfort thinking and systematic wealth-buildingRECOMMENDED EPISODES FOR YOU If you liked

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 walk you through the steps to transition from a nine-to-five job to entrepreneurship without recklessness, giving you the tools to pursue your passion and build financial freedom.Ever think, "I can do something better"? I'll help you evaluate your business ideas, define unquestionable value, and perform market research to ensure your transition is as smooth and successful as possible. So if you're ready to move from feeling stuck to building a life filled with passion and profit, make sure you don't miss this one.IN TODAY’S EPISODE, I DISCUSS: The importance of having a detailed, flexible plan.Learn why “doing what you lo

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 emphasize the importance of consistent long-term investing, understanding the difference between productive and destructive debt, and the necessity of having a personalized financial plan. I highlight why comparing yourself to others can be detrimental, and how focusing on personal growth and gratitude can lead to better financial decisions. Plus, I share my personal reflections and insights from my own journey.Want to transform your financial trajectory and ensure you never struggle with money again? Tune in to the full episode now!IN TODAY’S EPISODE, I DISCUSS: The critical role of long-term investing and avoiding the pitfalls of market timingThe benefits of low-

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 concerns about a potential recession. I also delve into the global impact, including the significant drop in Japan's stock market and its influence on the US market.Want to make informed, logical decisions about your wealth during market fluctuations? Subscribe to my channel for valuable insights and financial wisdom.IN TODAY’S EPISODE, I DISCUSS: The importance of having a detailed financial plan and sticking to it, regardless of market trendsWhy liquidity and avoiding destructive debt are crucial for weathering market drops and unexpected financial eventsThe benefits of a properly structured, diversified portfolio in mitigating risks and minimi

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 data from the Federal Reserve's Survey of Consumer Finances and share median and average net worth figures for various age groups. But before you celebrate or beat yourself up, I explain why these numbers only tell part of the story and why your investable net worth matters even more.Ready to gain clarity on your financial journey and take control of your wealth-building strategy? Listen to the full episode now!IN TODAY’S EPISODE, I DISCUSS: - The definition of net worth and how to calculate it- The difference between overall net worth and investable net worth- Median and average net worth figures broken down by age groupsRECOMMENDED EPISODES FOR

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 the growth potential. The numbers will blow your mind!I also emphasize why getting in the wealth-building game is so important, no matter how much you can start with. Your investing behavior matters more than the amount of money. It's not about having a lot to invest, it's about putting your money to work for you.Want to see how you can turn $10 a day into nearly $1 million over time? Check out the full episode now!IN TODAY’S EPISODE, I DISCUSS: How investing just $10 a day in an index fund over 30 years can grow to $847,000Why your wealth-building behavior and getting started is more important than the amount you investHistorical backtested

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 more importantly, I provide actionable strategies to help you weather any storm and come out on top. From building your financial literacy to managing debt and investing wisely, I cover it all.Want to take control of your financial destiny, no matter what the future holds? Tune in to the full episode now!IN TODAY’S EPISODE, I DISCUSS: - The importance of financial literacy in navigating uncertain times- Why liquidity matters for both safety and opportunity- How to manage debt wisely and avoid destructive debtRECOMMENDED 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