How High Earners Invest from Building Your Money Machine

Building Your Money Machine

Mel H Abraham, CPA, CVA, ASA, CSP

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How High Earners Invest

29 minutes Posted Feb 22, 2024 at 8:00 am.

Entrepreneur show for high-level success and liberation.

Prioritize money for driving value and growth.

Insufficient time for entrepreneurial, family, and unique jobs

Allocate money for wealth creation, especially high earners.

Diversify wealth from company stock for security.

Self-pay medical expenses; save receipts for HSA.

Don't withdraw from HSA before age 65.

Roth and after-tax contributions increase 401K limit.

Wealth priority ladder: allocate money for growth.

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Are you at a crossroads trying to figure out how high earners actually manage their investments? There's a whole lot more than just raking in the cash; it's about planting it smartly!

In this thought-provoking episode, I unravel the wisdom and strategies behind how high earners channel their finances into avenues that accelerate wealth. I will guide you through the principles of the "wealth priority ladder," where every dollar is earmarked for prosperity. You'll find out why some high earners are still caught in the paycheck-to-paycheck snare and how to sidestep that trap by smart management of both your earnings and outgoings.

Ready to revolutionize your approach to financial security and pave the path to true financial freedom? Plunge into the full podcast now!

IN TODAY’S EPISODE, I DISCUSS:

Creating a cushion with a 'comfort fund' to cover unexpected expenses
The critical steps to eliminate 'destructive' debt and balance it with wealth creation
Designing a 'peace of mind fund' tailored for entrepreneurs and main income earners
Investing strategies for high earners including maxing out 401(k)s, understanding Roth IRAs, and utilizing the mega backdoor Roth
Taking advantage of tax-advantaged accounts before moving to regular brokerage accounts

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RECOMMENDED VIDEOS FOR YOU

If you liked this video, you'll love these ones:

My Money Planning Process to Achieve Your Goals: https://youtu.be/Ip7kLKXNj2Y
Why HSA Accounts Are So Powerful: https://youtu.be/GGv6ldvCe6E
Should You Use a HELOC to Payoff Your Mortgage?: https://youtu.be/_2Hu42no2IY
Are You Really Living a Rich Life or a Bankrupt One?: https://youtu.be/yrredqHf09s

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.com

Affluent Entrepreneurs Private Facebook Group https://www.melabraham.com/group/

CONNECT WITH ME:

Website: MelAbraham.com

YouTube: MelAbraham.com/tube

Instagram (@melabraham9): M

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