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Welcome to an eye-opening episode of the Building Your Money Machine Show. Today, we're taking a look behind the curtain as I reveal the 12 income streams I have built by the age of 63—streams that were actually established decades ago and have provided me with the freedom to live life on my own terms. In this episode, we delve into how you can achieve financial freedom by creating multiple income streams, understanding the necessity of diversification not only in investing but also in income.I am going to walk you through each of my income streams, from the most active to the least active, showing how they have enabled me to thrive even through life's challenges, such as my battle with cancer, without being tethered to a single source of income.We will talk about active incomes such as my financial consulting and public speaking, to more leveraged streams like online courses and real estate investments, right up to truly passive income from dividends and interest. My journey demonstrates the import

Welcome to another strategic episode of the Building Your Money Machine Show! Today, I'm breaking down the overwhelming world of investments to provide you with a clear roadmap to wealth-building. Ever wondered which investments you can trust, which to avoid, or which simply to laugh at? This episode's got you covered.We start with the different tiers of investments, categorizing them from Wealth Champions all the way to Wealth Drainers. I'll rank various investments and explain each tier, from high-reward, reliable investments to those risky moonshot manias, and the ones that could drain your wealth.Whether it’s index funds, ETFs, real estate, or even collectibles, this episode gives you insights into where they fit in your wealth-building strategy. Do index funds and ETFs hold the crown? Where do cryptocurrencies and real estate fall? And why should you think twice about penny stocks and timeshares?I also bring in some real-life examples and personal opinions, like why I personally love blue-

Welcome to another impactful episode of the Building Your Money Machine Show! Today, we’re tackling an issue that hits home for many of us: Why having money is better than spending it.Have you ever felt the stress of living paycheck to paycheck or regretted an impulse buy? Or maybe you're wondering why financial freedom feels so unattainable? This episode is for you. I dive deep into why the real joy lies in having money, not just spending it, and how making a few simple shifts can set you on a path to financial security.Did you know that 61% of people are living paycheck to paycheck? It doesn’t have to be that way. We’ll examine practical steps like starting small, automating your savings, cutting unnecessary expenses, and investing wisely to help you build your financial foundation.Picture this: What if you had money saved up for emergencies or to jump on a fabulous opportunity without going into debt? I share real-life scenarios on how financial security can impact your life, from negotiating better d

Welcome to another transformative episode of the Building Your Money Machine Show. This time, I'm asking you to think deeply about the true quality of your life. What if you could not only add 20 years to your life but significantly enhance the quality of those years? If you've ever felt life slipping past you or questioned if you're truly living the life you were destined for, then this episode is tailor-made for you.In my journey, I’ve discovered three primary life changes that have made an incredible difference: Swapping Retirement for Purpose—Forget traditional retirement. It’s all about living your life with a sense of purpose. Investing in Relationships and Health—Your most important investments are not always monetary. True wealth includes strong relationships and good health. Embracing Simplicity—Complexity breeds stress, while simplicity fosters joy. Focus on what genuinely brings you happiness.I also dive into actionable financial wisdom: Start Small, Start Early—It’s never too late t

Welcome to another episode of the Building Your Money Machine Show! If you've ever felt like saving money is impossible, like there’s always something pulling you to spend or life keeps getting in the way, this episode is for you. Today, we'll uncover exactly why most people can’t seem to save and the hidden traps that are keeping them stuck. And more importantly, I'll share powerful steps to change that so you can start building real financial freedom.Financial freedom starts with saving, yet most people struggle with this simple but crucial step. Why? Because the system's rigged to keep you broke. From relentless marketing tactics to lifestyle inflation, we’re up against a lot. But don't worry, I've got your back. We'll talk about actionable strategies to recognize these traps and overcome them.We’ll dive into why half of Americans can't cover a $1,000 emergency without going into debt and why nearly 63% live paycheck to paycheck, even those earning over $100,000 a ye

Welcome to another transformative episode of the Building Your Money Machine Show. Today, we're going to identify and dismantle the nine financial habits holding you back in your 40s — wisdom that’s not bound by age. Whether you're in your 20s, 30s, 40s, or beyond, this episode is laden with timeless advice to elevate your financial journey.In your 40s, you’re at a crucial juncture where every financial decision holds more weight. From rising incomes to escalating expenses with kids, mortgages, and aging parents, the stakes are high. Are your habits setting you up for financial freedom or potential devastation? That's what we’ll uncover today.In this episode, I break down the nine must-adopt financial habits by your 40s to regain control, build wealth, and secure the financial future you deserve. These aren't quick fixes but methodology-backed steps that have transformed the lives of my clients and can do the same for you.We’ll talk about building an emergency fund, consistent investing, p

Welcome to another empowering episode of the Building Your Money Machine Show. Ever felt like everyone else is ahead of you financially? You scroll through social media and see the luxury vacations, new cars, and dream homes, and it leaves you wondering — why does it seem like everyone has more money than you do? If you've ever felt this way, this episode is for you.In this episode, I break down why it feels like everyone else is financially ahead of you, and more importantly, how you can shift your focus back to your own financial journey. I share the truth behind those seemingly perfect social media posts and the hidden factors that distort our perceptions of wealth.I dive into the emotional traps of comparison, the danger of lifestyle inflation, and why true wealth isn't about flashy spending but about building a life of choice and freedom. I'll guide you on steps to understand your own financial reality, define what wealth truly means for you, and create a specific actionable plan to achiev

Welcome to another pivotal episode of the Building Your Money Machine Show. Today, we're tackling a topic that affects millions of us: How to Stay Ahead as the Middle Class Shrinks. It’s no secret that economic pressures are squeezing the middle class, and I’m here to equip you with strategies.The middle class, traditionally seen as a foundation of financial security, is rapidly shrinking. From stagnant wages to rising living costs, and the transformative impacts of technology and automation, the landscape is evolving. Many Americans are feeling the pinch, living paycheck to paycheck and grappling with financial instability and stress.In this episode, I dig into the root causes of these economic pressures. We'll look at how wage growth has failed to keep pace with productivity and rising living costs, especially in housing. I’ll also cover how technological advances are reducing "middle-skill" jobs, contributing to job insecurity and stagnant wages.In today’s episode, I discuss:Mastering F

Welcome to another enlightening episode of the Building Your Money Machine Show. Ever wondered if the retirement plan you're following might be completely wrong? Today, we're dismantling the conventional wisdom around retirement planning—a topic that's critical to ensuring you don't just survive your retirement, but actually thrive in it.In this episode, I tackle why the common advice of aiming to replace 70-80% of your pre-retirement income might be setting you up for disappointment. This one-size-fits-all advice fails to account for your unique life, dreams, and spending habits. From inflation and healthcare costs to your personal goals and lifestyle changes, we’ll dive into why personalized financial planning is essential.Drawing on studies and personal experience, I illustrate how a generic retirement plan can fall short and share detailed steps to create a bespoke retirement plan that's tailored to your specific needs. We’ll talk about understanding your spending habits, accounti

Welcome to a unique and reflective episode of the Building Your Money Machine Show. Today, I’m shifting gears to share some life-changing wisdom—lessons gleaned from over six decades of trials, triumphs, and everything in between. This episode isn’t just about financial freedom; it’s about creating a life you love to live, mastering your money, and eliminating financial stress so you can enjoy the ultimate freedom—choice.In this special installment, I lay out 14 life lessons that have profoundly shaped my journey. From staying physically and intellectually active, to rejecting others' limits, to truly understanding what brings you joy, these insights aim to enrich your path toward not just financial independence but a fulfilling life.I dive into the importance of gratitude, embracing obstacles as growth opportunities, and understanding that legacy isn't something you leave behind, but rather something you live every day. We'll also explore the richness life offers beyond material wealth, and ho

Welcoming you to another episode of the Building Your Money Machine Show! Today's topic is all about demystifying the process of building wealth with my Copy-Paste Strategy to Become Wealthy the Lazy Way. If you're overwhelmed by the thought of constant hustling to grow your money, this episode is your guide to a simpler, stress-free path to financial freedom.Join me as I break down 8 simple, proven strategies you can literally copy and paste into your life to stack your way to wealth. And trust me, number seven will surprise you—it’s the very strategy that fast-tracked me to financial freedom!We’ll kick off by discussing how to take full advantage of your employer’s 401(k) match—it’s like picking up free money off the ground. Then, I'll dive into automating your savings and investments, ensuring consistency without the constant grind. We’ll also touch on the importance of skilling up each year to increase your earning potential and how to leverage tax-advantaged accounts to keep more money in

Welcome to another eye-opening episode of the Building Your Money Machine Show. Today, we're tackling an increasingly prevalent issue that I call "money dysmorphia"—a financial anxiety condition affecting so many of us, no matter our financial standing. This episode delves into how financial stress can lead to isolation, strained relationships, and even impact your physical health. Financial wellness is the critical link between your mental and physical well-being—something we can't afford to ignore.The rise of financial anxiety, exacerbated by social media comparisons, is affecting nearly one-third of Americans today. It’s not just an abstract number; it's real people, including 43% of Gen Z and 41% of millennials, dealing with this every day.We delve into the symptoms of money dysmorphia, where your perception of financial health becomes distorted despite having savings and income. Examples include older adults fearing to spend their substantial savings, and younger professionals ob

Welcome to another eye-opening episode of the Building Your Money Machine Show. Today, we're tackling a crucial topic: Why Most People Don't Invest (Even Though They KNOW They Should). This episode is all about addressing the fears, misconceptions, and barriers that hold so many back from taking the plunge into investing, even when they understand its importance.Let’s dive into the psychological barriers around investing. Fear ranks high on the list—fear of losing money and the misconception that investing is akin to gambling. But unlike gambling, investing involves calculated, strategic risks, and history shows that long-term investments typically succeed.Then there’s the lack of knowledge. The financial world is flooded with jargon and complexity, making many feel overwhelmed. You don’t need to be an expert to start; you just need to start.I also discuss the challenge of instant gratification. Many avoid investing because it means delaying rewards. But don’t worry; your financial plan can—and shou

Welcome to another crucial episode of the Building Your Money Machine Show where we're tackling a pressing question that many of you might be facing: What would you do if you were in your 50s or 60s with little to no savings, and retirement is right around the corner? In this episode, we dive straight into actionable steps you can take to secure your financial future, even if you're starting late in the game.At 63 years of age, I understand the anxiety that comes with approaching retirement without sufficient savings. But here's the truth: It's not too late. There's still time to create a detailed plan that can help you build the security you need for a dignified retirement. We cover everything from maximizing Social Security, making smart investments, to developing a stress-tested financial plan.This episode is designed for those who feel the clock ticking but need assurance that they can still achieve financial security. I share insights from my journey and my experience with client

Welcome to another empowering episode of the Building Your Money Machine Show. Today, I challenge you to rethink the 'middle class' label and the mindset that may be limiting your financial potential. Are you truly middle class, or is it just a label that's holding you back? If you've ever felt like you're merely scraping by, living paycheck to paycheck, or playing it safe, this episode is for you.In this powerful discussion, I dig deep into the hidden problem with the middle class label. The issue isn't the income—it's the mindset. I argue that self-imposed limitations originating from labels can hinder your path to true wealth and financial freedom. From the myth of middle class priorities to the importance of shifting from a savings mentality to an investment mindset, we cover it all.I share compelling stories, including the journey of Howard Schultz from a housing project to becoming the CEO of Starbucks with a net worth of billions. These stories underscore that financi

Welcome to another enlightening episode of the Building Your Money Machine Show. Today, we're going to explore the six essential assets you should own by your 40s to set yourself up for financial success — and trust me, these insights are game-changers.In this episode, we'll start with the foundation of any robust financial portfolio — cash and liquidity. Having a "peace of mind fund" that covers 9-18 months of expenses is crucial. We'll debunk the myth that "cash is trash" and explain how to smartly manage your liquid assets through high-yield savings accounts or money market accounts.Next, we'll delve into diversified ETFs and index funds. These investments offer a balanced mix of safety and growth, reducing risk by spreading your money across a broad range of stocks. They’re liquid, historically reliable, and require minimal initial investment.If you're in your 40s, this is your "millionaires decade," a pivotal period where strategic financial decision

Welcome to another thought-provoking episode of the Building Your Money Machine Show. Today, we’re diving into some of the most crucial changes that might impact your taxes and Social Security, especially if we see a return of a Trump administration in 2024. This episode is here to help you understand what’s on the horizon and how it could shape your financial future—without getting political!You might feel overwhelmed by the idea of rising taxes and expiring benefits, not to mention what the future holds for Social Security. Trust me, you're not alone. These are massive issues that could significantly impact your income, retirement, and overall financial security. But don't worry—I've got your back.We'll delve into two critical areas: the expiring provisions of the Tax Cuts and Jobs Act (TCJA) of 2017 and the potential changes to Social Security. We’ll break down what could happen to your taxes if these provisions expire, how they might affect different income groups, and what you can do

Welcome to another pivotal episode of the Building Your Money Machine Show! Imagine I told you that the most severe financial crisis isn't a recession or a stock market crash, but something far more subtle and pervasive — something that's happening right now. Today, we're breaking down the concept of the "Great Melt Up," a scenario that could drastically impact your finances and your freedom to live the life you desire.In this episode, I'll dissect what the Great Melt Up is, why it's happening, and most importantly, how you can protect yourself from its effects. We're not about fear-mongering here; this is about having a real, informed conversation on the economics at play and how they trickle down to affect you. From rising government debt and interest payments to spending gaps and inflationary pressures, we cover it all.By the end of this episode, you'll be equipped with actionable steps to secure your finances and stay ahead, no matter how turbulent the economic

Welcome to another insightful episode of the Building Your Money Machine Show. If you’re feeling the pressure of not having saved for retirement yet and you’re in your 40s or beyond, this episode is specifically tailored for you. I get it — the future can seem daunting if you're not financially prepared, but I'm here to tell you it's never too late to start.Many folks aged 40-49 find themselves in a precarious situation, often with less than $10,000 in retirement savings. If this sounds familiar, don't worry, there's a path forward. I’ll walk you through a comprehensive game plan: from evaluating your financial status, to building a safety net, managing debt, and finally getting into the practice of investing.But that’s not all — I also delve into investment strategies that are accessible and effective for everyone. Whether it’s leveraging employer 401(k) matching or contributing to a Roth IRA, the aim is to cultivate habits that will grow your wealth over time.So, buckle up for an ep

Welcome to another enlightening episode of the Building Your Money Machine Show. Today, we're uncovering a monumental financial event — the biggest wealth transfer in U.S. history that's unfolding right now. This $84 trillion transfer, positioned to reshape the economy, represents a golden opportunity for those who are prepared, whether they’re inheriting these riches or not.I'll break down why this isn't just about money changing hands; it’s a seismic shift in homes, businesses, and other investments that could alter the economic landscape. We’ll cover the step-up in basis benefit, how to identify and seize opportunities in real estate, agriculture, business acquisitions, and even alternative assets like art and vintage cars.Furthermore, I'll guide you on how to elevate your financial literacy, get your personal finances in order, and strategically enter the market to take full advantage of the upcoming opportunities.Buckle up for an episode filled with critical insights, practical t