022 My Top Money Mistakes

Hey there, real quick before we jump into the episode, listen, if your earnings treadmill hasn't set you free yet, running faster won't either. Listen, hustle without principles just going to burn you out. So here's what I want for you. I want you to join me for my money machine experience live. It is three free trainings. Deep dive into how to escape the treadmill and build a money machine that actually works for you. All right, grab your spot here by going to moneymachinelive.com and I'll see you in the free training. Hey there, and welcome to this episode of the Affluent Entrepreneur show. And in this episode, we're going to talk about some of the mistakes that I've made, some of the money mistakes that I've made, and some of them, they're doozies. So stick around.

This is the Affluent Entrepreneur show for entrepreneurs that want to operate at a high level and achieve financial liberation. I'm your host, Mel Abraham, and I'll be sharing with you what it takes to create success beyond wealth so you can have a richer, more fulfilling lifestyle. In this show, you'll learn how business and money intersect so you can scale your business, scale your money and scale your life while creating a deeper impact and living with complete freedom because that's what it really means to be an affluent entrepreneur.

All right, welcome to this episode of the Affluent Entrepreneur show. And this one, like I said, we're going to talk about some of the mistakes I made. This thing came around because I was having a conversation with someone at a mastermind that I was speaking at and they said, you know, they made the comment to the effect that I was lucky and that I did things right.

Nothing could be further from the truth. I've made some really, really big mistakes to the point that I put my financial situation in jeopardy in a big way. And so what I want to do is I started to sit down and list out at least some of the top mistakes that I made that I think that you might even be making right now. But I think that they're also common because I've seen them in the clients and the people that I've worked with in the affluence blueprint or some of my one on one clients in that process. And so we're going to jump in, we're going to talk about, oh, I don't know, eight of my mistakes that you might just relate to. And what are the, what are the things that came out of it? What do we need to do differently? And so this might Hurt me a little bit because it's going to take me back to some of the pains of the past. But unless we're willing to revisit some of those pains of the past, we're not going to get the lessons for the future. And so here we go. First mistake, first mistake is cashing out my 401k early. So this is going back a ways when I was working at a consulting firm and you may be working for a job right now and thinking about leaving your job and going into your own endeavor. You've got a side gig that you're trying to grow or something like that, and you have a 401k there or you have a retirement plan there. So when I left my consulting job, I was actually going to leave there and we're talking 31, 32 years ago. So I was leaving there and I was going to live in Japan and I was going to go live in Japan to train in the martial arts with my, my sensei, who's a 17th generation samurai bloodline. So I was just going to go live there and train the martial arts. Well, when I left, no one told me this. I didn't do the math. I didn't know any any better. I had a 401k that had a balance of $17,000 in it. And so I decided that that was going to cash it in. And that's how I was going to survive in Japan without having to work. And I could just train at least for the first little while. And then if I needed to, to teach English or do something while I was in Japan, I could do that. So I took the 17,000 out. Now let's just do some math behind this, because if you've heard me before, I say get in the investing habit, get into the investing behavior and stay in the investing behavior. So I had $17,000 that I took out, but because I took it out early, I had to pay tax on the $17,000. Not only that, because I took it out early, I had to pay penalty on the $17,000. So the penalty was 10% for the federal, 2% for the state. So I paid a 12% penalty on the $17,000 plus the tax. So at the end of the day, I took $17,000 out of my 401 and I ended up with eight in my pocket. So I lost half of it. I lost 50% of it to taxes and penalties. So that's the first mistake that I made is that one taking it out and incurring those penalties. So some people Will say, I want to. I want to cash out my retirement. So the last thing we want to do is cash out of retirement because of the. Especially if you're not past the penalty age, which is 59 and a half in most cases. So. So if you're not past the penalty age, you're going to get hit with penalties, and depending on your state, you're going to at least get hit with a 10% penalty for federal purposes. And then you got to pay all the tax on it. So you can bank on the fact that if you want $10,000 spendable from your retirement account, you're going to have to pull 20 to get 10. It's an awful exchange. Now, I was young. I was really young in my 20s and in my late 20s, but I didn't do the math. I didn't think it was a big deal. I figured I had all this time, all this space ahead of me. I'll just put more money back in when I come back and start working again and I'll rebuild again, which you can do. But let's look at what that did. So not only did I have to pay half of it to the government in taxes and penalties, I then spent the other half while I was in Japan, which is totally fine if I do it consciously. I was completely unconscious, unaware, and unintentional. I just flippantly said, I'm just going to do it this way. So I did the math on this. Interestingly enough. I decided, well, what would have happened if I kept the $17,000 in the account? So. So I had $17,000 in the account, and on average, I probably could have gotten a 9% return. And it was 32 years ago. 32 years. Okay, 32 years ago. And when we look at that, you start to say, well, what does that do for us? And what we're doing? Well, when you do the math, this turns into $268,000. So in other words, my little shindig, my little foray to Japan on my retirement account cost me over quarter of a million dollars. In other words, I would have had $270,000 more today in wealth or cash that had I just left it and let it grow, okay, just left it alone, the $17,000 would have turned into 270, almost 300,000. If I got better returns on it, it would have been over $300,000. So what seemed like a small decision at the time, a small number at the time, when we take into consideration the power of compounding the time to do that because remember, compounding goes in an exponential curve. When we start out, it's really flat for a long period of time. But then all of a sudden it makes a hockey stick jump and starts to grow at an exponential rate. And so at the very beginning, it doesn't seem like a lot, but it really starts to add up. So this is why I tell people when we talk about investment, when we talk about your financial future, I want you to get into the investing habit early and I want you to stay in the game long term. We don't cash it out. So this was one of my big mistakes. I want you to get in the game. I want you to start whether it's a 401k, whether it's an IRA, whether it's a Roth, a Roth 401k or just a regular investment account, get in the habit of putting the money away. And it's a one way street, at least until you're in retirement. We don't take it out early, we don't cash it in, we don't spend it on lifestyle stuff that.

We'Re taking from our future to spend on today's lifestyle. Now what should I have done? Now what I should have done is plan for it. Anytime we're looking at a big expense like that, we create what I call a sinking fund. So I should have opened up a separate account or I should have done something like that, a separate savings account, a separate high yield cash account and say I wanted $8,000 to go to Japan. I now allocate my numbers and my salary and my income so I can build that $8,000. And now I'm doing this stuff on cash, not on debt, not on credit cards. So I'm not running up credit cards to do it with this big bill when I get back and or taking it out of retirement. So what I should have done is a sinking fund to make it happen. That would have been the smartest, most conservative way to do it. And in fact, when we talk about major purchases or major expenses, that's the way I recommend for my clients, it's the way we do it. We're going through a remodel here at the house, which is a whole nother story. It has been a nightmare with some of the contractors, the timing, that's a whole nother story. We could talk about it because, oh, have I learned a lot. But we chose not to start the process until we had a specific amount set aside till we could pay for it in cash. We weren't going to refinance Go into debt to do it. We could have pulled money out of investments. We got plenty of liquidity to do it. But I said, no, let's do this the right way. We're not going to reduce our investments to do this. We're going to fund it through cash flow, we're going to fund it through income. We're going to fund it through a sinking fund. And that's what we did. Now, with all things going better than it has before, hopefully this remodel will be done in the next three weeks. So. So that is. That is mistake number one. Here's what I'm going to invite you to do. To take away from mistake number one is one, never, never, ever, ever, unless it is a dire, dire emergency, pull out of your retirement account. You're going to get hit with penalties, you're going to hit with taxes. You're going to lose 50 cents on the dollar. Okay? Two, if you have major purchases, I want you to use a sinking fund approach to it. Save for it and pay for it in cash. Don't go into debt for it, because then all of a sudden you're going to get hit with interest charges and things that you hadn't even thought about. Okay? And three, remember that the sooner we get into the investing game, the longer the time can work for us. The time value of money, the compounded effect will dramatically change. That is why 17,000 turned in almost 300,000 if I would have left it in. Lesson learned. Okay, mistake number two. Mistake number two. It's making emotional money decisions. This is a big one, not just for me, but for a lot of people, is that we tend to, look, money is an emotional thing. And so we sometimes make emotional financial decisions. Here's what I've always said. Anytime your emotions go up in the construct or in the context of a financial decision, your financial intellect goes down. Okay, now I've said it. Doesn't mean I followed it. All right, You've all heard at some level that I got involved in a Ponzi scheme. So right around 2004, I met a guy through a client and a friend who had been investing with him, who said. He said, I've been investing with this guy. He's been giving me big returns. 20% here, and we're investing. I said, what are we investing in? And so it was this leasing deal. So he was buying equipment and selling equipment and leasing equipment. He had all the documents. I went through and I looked at some of the documents and the website and all that stuff. He had all this stuff. And he had the spreadsheets. And I looked at all of it and the promise of the returns. All of a sudden what I did is I started looking at it and going, wow. I started calculating the money that was going to be in my hand before it ever got there. I started looking at it going, I'm going to be able to pay the house off. I'm going to be able to retire early. I'm going to be able to do these things, and if I continue to do this for the next year, this is where I'll be. I got emotionally immersed, emotionally invested in this guy, did some incredible. He had an incredible house on the Malibu cliffs, and he threw these amazing parties and he was living a lavish lifestyle. And I'm thinking, yeah, yeah, he's doing it all right. But I got emotionally hooked in, and so I gave him money. Then he turned around and so he was teaching. I'm going to tell you a little bit more, a little more detail than I normally do, so you just understand how the emotions get involved. So the investment was a cycle of six to eight weeks. So at the eight week mark, he says, hey, you made $20,000. I can send you your $20,000 and we can reinvest the rest. Or I can send you all your money and the $20,000 and we go separate ways. Or you can roll it, including the $20,000 and go into another cycle and we'll parlay. He says, here's the thing. And this is where he got me on the emotions. He said, if we send you the $20,000 or I send you your money and the $20,000, I'm going to have to 1099 you, and you'll end up paying tax on it. But if we roll it, you won't have to pay the tax on it. So I thought, okay, I don't want to pay tax. So he hit the emotional buttons. I rolled it over. So what did I do? I rolled it over and he kept coming back and keeping a ledger and saying, here's another $20,000, here's another 30,000. And it was growing and growing. He says, in fact, he says, I've got another deal coming up. Do you want to go in? So I gave him more money, but I had yet to see any money coming back other than the conversation, the spreadsheets and the information. Boy, big mistake, big mistake. Because in the end, in the end, he had one third of everything I owned. And I lost it all. I lost it all between me and those two friends. We lost Four and a half million dollars because he knew how to tap the emotions, because he knew how to work the emotions, because he understood the psychology and the games that he played. He was a con. He was a con, and I fell for it. And so when you start to feel that you're making financial decisions now, what did I learn from that? First off, I do not invest in anything that hasn't been vetted through a couple of layers of due diligence and a couple. So if someone out there is a friend of a friend says, hey, they've got a great investment. I don't want to hear it, I won't invest in it. It's just matter of fact, I will tell my clients, do not do it. If they choose to do it, then buyer beware. Because when you get promised crazy returns, if it's too good to be true, it's too good to be true.

But they tap into those emotional heartstrings. Now, sometimes we also get emotional. I remember helping. I do a lot of consulting and helping people negotiate transactions and deals. And I had a friend that was looking to buy a commercial building. He says, would you help me negotiate this? I just need to understand I want to try and get the best deal.

The money on a real estate deal is actually not made on the sale. It's made on the purchase. If you buy it right, then you're in good stead. If you don't buy it right, then you may be running, running for a little while until it makes sense. So I asked him this question. I said, where is the line in the sand that you're not willing to cross? Where we walk away? We need to know our walkaway number. He looked at me, says, I'm willing to pay whatever because I really want this building. And I looked at him and I go, you're screwed. Then you're screwed because you're emotionally connected and emotionally attached to the outcome. And when we do that, we tend to. And we have the possibility of making bad decisions. We chase it. We chase it in a way that we end up making the wrong decision. I was at a silent auction. This is. Oh, my God. This is a silent auction. And there was. My son at the time, was in high school. He was going to be graduating. He wanted to go to USC University of Southern California Film school. Now, that was going to be a quarter million dollar deal, but all right, he wanted to go to film school at the time. And I see the silent auction. I see the cardinal and gold blanket, and I see that. And I saw. I Put a bid on it. This gal comes up and puts a bid, outbids me. I go and bid back. She bids me against me again, and she keeps increasing. Now we're getting close to the deadline, so as the guy is walking down the silent auction path, and he's. He's picking up the cards and saying, last chance, last chance. I'm walking with him. Okay? I. I figured I'm gonna. I'm gonna get this. So this blanket started out at $20. Between her and I, it was now at $100, okay? Because I wanted to get this USC blanket for my son because that's where he wanted to go. That was the school he wanted to go to. And. And so just as he gets there, she puts a. A bid down at 110. Just as he gets there, I put a bid down at 115, and I got the blanket. So I go to collect the prizes at the end of the silent auction. I am proud, I am strutting, I am happy. And I tuck that blanket under my arm, and the people look at me and they go, you're the one that got the blanket. I said, yeah, $115 for that blanket. I said, look, I said, my son wants to go to University of Southern California, and I just wanted to get him this blanket so he would have something of USC before he ever got there. And they looked at me with this weird look, and they said, I get that, but that blanket isn't a USC blanket. That blanket is a Simi Valley High School blanket, which isn't even the high school that my son went to. He went to Royal High School. It was the rival high school. So here I am buying, bidding, and paying $115 because I got emotionally engaged in a buying decision for a blanket that we can't use because my son found it in the trunk of the car and says, why did you buy the rival high school blanket? I said, don't even ask not only why, but how much I paid for it. Thank God it all went to a good cause. But point being is that when you feel your heart, when you feel your emotions getting involved in the decisions, it's time to back off. One of the ways to try and work through this is this, is that before you get into an investment, before you make a financial decision, before you go into a car dealership or a home or anything else, set your rules up first. So because of the Ponzi scheme, I have specific investment rules. They are criteria. They are binary. They either exist or they do not exist. And that's it. It's a check the box, I'm done. So when you take the time before you make a financial decision to set the rules of that decision before you enter it, then the chances of you getting pulled in emotionally go down tremendously. All right, so that's mistake number two. Mistake number three, buying beyond my means. I did this when I was young, so it was my first year in college and my brother and I have an identical twin brother. And for we decided, oh, you know what, we walked onto a used car lot, big mistake. Okay? We saw this Ford Bronco that we liked. So we went, now we're college kids, we had part time jobs.

And so we didn't know what we were doing. And these sharks, these used car salesmen got us into the office, convinced us to buy and we bought this Bronco. And it didn't take us long to first realize that we bought a lemon. We got taken two, we bought well beyond our means. So now we were struggling to make the payments, struggling to do the upkeep, struggling to take care of it. We didn't think about the gas, the insurance, all of those things that at a college level we didn't do. So what happens? Once again, emotions get involved too here. We need to be aware of this whole idea of the payment plan. The reason that car dealerships or companies will turn around and say we'll give you affordable payments is when you go. When we negotiate on a payment, we take away the friction from the buying decision versus if I said I had to pay for it cash so the payment looked like it was affordable. It was a smaller number, but had I done the math on it, I would have realized that. So the lesson here is to be really clear on.

Where your income's coming from, where it's going, and not make payment decisions without making sure that you can afford it effectively. Now we'll talk about the wealth priority ladder. How do you allocate your cash and everything? In another episode coming up, which will help you with this. Now, number four, number four mistake. Now this might surprise some of you, but let's look at this. The number four mistake is this, trusting my advisor. And you're kind of going, oh man, my advisor's probably really wriggling right now and going, what do you mean? What do you mean trusting your advisor? You don't trust your advisor? No, actually I don't. I mean, I do, but I don't. Let me tell you what happened. Not this advisor, but an advisor before him who happened to be someone I Went to school with. And so I knew him and I assumed, you know, he's a professional, he's a licensed professional. He's going to put things in front of me that make sense and that are good for me. And that's what you believe. You hire an advisor and that's what you think. Now in the affluence movement, we talk about what kind of advisors because you want to look for, because advice. Not all advisors are the same. They're not equal. Okay, well, what he sold me into was an investment, an annuity investment. Now most, some annuities are good, I have some. But most of them, you got to be careful about this one. I didn't understand. He didn't explain it to me. I didn't realize that what was happening is I was locked into a low grade investment, a low grade return, so I wasn't really making money. And I had to sit in it for six years before I could get out without penalty. Because a lot of these, a lot of these annuities have liquidation penalties. So if you try to get out in the first six, seven, 10 years, they're going to take, take a percentage of it. And sometimes it's, it scales down from 10, 9, 8, 7%. It just starts going down. But got to be in it for a while. And what I found out was first off, it was the wrong investment for me, where I was in my life, what I needed. But it was an investment that the advisor got paid a tremendous commission on and got regular fees on because of the expenses that were running through the investment. Had no idea at the time because I didn't understand the investments. And so the advisor got fired and we got myself out of that investment. We waited for that six. We had a 21 day window, six years in. If we missed the 21 days to get out, I was locked in again with penalties. So we had it on all our different calendars, got myself out of it and moved forward. Now what does that mean? Don't trust your, your advisor. Don't blindly trust your advisor. First off, you need to select the right advisor. They need to be a fiduciary. They need to have your best interest at heart and in mind. Even if it costs them money, even if they lose money on it. My advisor is a fiduciary that, that is focused on me, what is right for Mel Abraham and Stephanie Abraham. Okay? Not what my products that I have and I'm going to sell those. So I want to make sure that my advisor understands my vision, is willing to buy into the vision, is helping me execute towards the vision and is willing to educate me even if it takes days to get me to understand an investment. I will not invest in anything that I do not understand ever again. And I'm always asking, how are you getting paid? I want to follow the money and I want to follow the bias. Okay? So I don't blindly trust my advisor. I question everything that comes comes to to me. He knows that there's certain things I want done before he ever gives me investment. And I want certain due diligence. I want to see certain things. So again, it goes back to my investing rules. This advisor came on the scene after my Ponzi situation. So all those rules from the Ponzi situation also affected here. So blindly trusting an advisor and assuming they're going to take care of you is the other mistake. That's mistake number four. Mistake number five, not making investing a priority. Okay? This is something that a lot of times when I first started doing, got out of college, I got my salary, I got my, you know, I'm getting my wage, I'm buying a car, I'm doing this. And what I, what I made as a priority, and this is where I started to get myself in big trouble is I made looking wealthy the priority versus being wealthy. What we really need to do is get really clear on what it takes to truly be wealthy. Not look worried about what it looks like from the outside. Who cares what it looks like from the outside? There's a whole lot of people that are extremely wealthy. And you couldn't tell from looking at it. I live in Laguna Beach, California. We call it, this is billionaire. This is a town with billionaires and board shorts that they're walking around in board shorts and flip flops. You wouldn't know that they were millionaires or billionaires. They're just down to earth people. Now are there people with egos and things like that? Sure. Do they drive flashy cars? Yeah. But by and large, they're just down to earth people.

So what happens is this is, if you, if you think about this, there's two ways you can decide to live your life. The way that most people do is they earn income, they take that income and they spend it to create the lifestyle they want. They buy cars, they buy homes, they overspend, they go to lavish dinners, they go on lavish trips. They're not putting money away, they're not doing that. And then they look at what's left over. In other words, in other words, they, they take the money that they have they spend it on a lifestyle and they see, do I have anything left over? And when it's left over, that's what I invest with. So you're investing the scraps that are left over after you've spent on a lifestyle that you probably couldn't afford. That's the way most people are doing it. 78% of people today are living check to check. Now some of them truly are living check to check because of a couple things. One, they may not be making enough money, so we got to figure out their income issue. Or two, they just got themselves in a lot of debt or a lot of expenses and they're overextended. And so we gotta figure out the expense side of it. But by and large, we need to start to make investing a priority. So here's how the wealthy and the rich do it. When I flip this, it completely changed the my financial trajectory because I saw that I may have looked good from the outside, but I was stressed on the inside because I had debt. I was just making it by. I was then a newly, newly minted dad and a full time dad. I had to figure this thing out. And that is now I make the money, you make the money, and you make investing the party. So I say, all right, here's the money that I made. I'm going to carve a percentage off. And I tell my clients, depending on age, I want you from 15 to 25% to go into an investing account. And then whatever you have left, whatever you have left, that's what's left to fund your lifestyle. Now you might say, mel, I can't live my life on what's left. If I did that, well, great, then what we need to do is then instead of jeopardizing our future and not putting the money in for our future, we need to figure out how to supplement our income or manage the expenses on the lifestyle side. But we need to make investing a priority. And that's what we did. That's what I did. But it took me a while. I had expensive cars, I was doing things, I was traveling. I made a lot of mistakes. But here's the good news. I'm here to talk about it. I'm fine today. We can recover. Whether, no matter where you're at, we can make that happen. Now, number six. Number six is having no financial plan, okay? Just walking through your money stuff haphazardly. One of the things that I think happens is this, is that if you don't have a plan, then you can't create a Strategy and the tactics to fulfill the plan. And too often we think, well, we might be young, so we have plenty of time to plan. But the beautiful thing is the younger you are, the more important the plan is because the easier it will be as you go on. Remember my son at 31 years old, his wife at 28 years old.

31 and 28, and they have three homes and a seven figure net worth because they have a plan and they're executing to the plan. Now you might also say, well, I'm old, you know, my time's, you know, why even plan now? Because you got a shorter Runway. Let's plan, let's execute. Let's do it like a SEAL team. Let's get in there, let's make it happen like a Delta Force and do that. If we don't have a plan, we don't know what the finish line is. We don't know what the target is, we don't know what the destination is. But when we take the time to create a plan, then we can. And if we don't have a plan, we can't measure to a plan. So we don't even know where we're at. So originally I had no plan. Otherwise I wouldn't have cashed in the 401 to go to Japan. I would have used something else. I would have done something else. So whether you're just starting out or you're in midstream, make sure that you have a financial plan that works. If, if you want to get clear on this, I'm going to be running something called the seven day Money Plan Challenge. Okay. It's totally free, totally free. And you can go through it for free. And we'll dig into some of this at a later date. But you can go to themoneyplanchallenge.com if you want to jump in and check it out. Okay, then the last two. Number seven is thinking my job was the sole source of income. Thinking my job was a sole source of income. Something I realized early on. I was in a, in a profession where I was swapping hours for dollars. And because I was swapping hours for dollars, if I wasn't running on the treadmill, selling those hours, I wasn't making money. And many of us might be in a job, might be in a business, and it might be only one single source of income. But if the pandemic has showed us anything, if we are dependent on one source of income, then we are at risk of having that shut down. We are at risk of having an issue with our income streams and, and, and our longevity as far as wealth building. So, so it's important for us, you know, you to start looking at what are the other sources of income in the affluence group when we talk about the five incomes. But just look at how you can capitalize and get paid to. If you just look at how you can take your expertise and some of the things that you do to start getting paid in additional ways so you aren't solely dependent on a company, a single customer, a single source. You then diversify your income streams. And when we diversify our income streams, we reduce our risk. And when we reduce our risk, we increase the probability of success. Okay, last mistake is not tracking my numbers. Okay? At first I knew I was in debt. I knew I was running credit cards. I knew I was doing those things. And I didn't want to have a conversation. I didn't want to even look at my bank statements. I didn't want to look at the credit card statements. I was just making the payments. And I said, if I keep my eyes closed, it won't hurt so bad. You know what? I can stick my head in the sand all day long, and when that train hits me, it's still going to hurt me really bad. And that's what I found out. I mean, I, I had some challenges, and until I got real with myself and was willing to look at, at my spending, willing to look at my lifestyle, willing to look at those things and willing to make those changes and then track them on a regular basis, I wouldn't have come out of it. So all I'm asking you to do is to track your numbers, know where the money's going, know where it's coming from, be conscious, be aware, be intentional, and make good decisions. All right, so those are my top eight mistakes that I've made. Clearly, I'm still here to talk about it. Clearly I've recovered from all of them. Clearly they're not terminal. And I tell you this more for you to be able to realize that, hey, one, I'm human. I've screwed up, and I'm going to continue to screw up, but hopefully I don't screw up bad enough that it's turnaround. Okay? And if you're made, if you made mistakes, they're in the past. Let's figure out where you're at and let's figure out what we need to do differently. Let's take the lessons away from that so we can move forward in a smarter way. Okay? I hope that these mistakes help you. I hope that you had a chance to, to, to look at this and say maybe, maybe, just maybe some of these I relate to. And that's cool, that's good. And let's take some lessons away. If you have questions on it or if you have made some other mistakes and you want to comment and you want to let me know and say, hey, how do I deal with this? How do I do that? Send me a dm, send me a note, post it in the, in the Affluent Entrepreneur group. Let's get you going because you don't need to do this on island. You don't need to do this in isolation. This is truly about you changing your financial destiny. Okay? So hopefully you found this of value. Do me a favor if you haven't done so already, okay, go ahead and hit the follow or the subscribe button. Stay with me if you can. Leave me a review, a couple things. I read reviews regularly on the show and if I read your review then you get selected because I read your review to have a one on one laser coaching session with me. We can talk about your business, we can talk about your money, we can talk about your wealth, we can talk about whatever you need to start to move you forward and into this affluence journey the right way. And I look forward to supporting you and serving you. And just remember this, always, always live a life that outlives you and I'll see you and talk to you in the next episode of the show. Cheers. Bye. Thank you for listening to the Affluent Entrepreneur show with me, your host, Mel Abraham. If you want to achieve financial liberation to create an affluent lifestyle, join me in the Affluent Fluent Entrepreneur Facebook group Now by going to melabraham.com group and I'll see you there.

And that's it for this episode of Building your money Machine where we help you learn how to master your money, eliminate financial stress and live a life of choice. If you found this valuable or helpful to you, here's what I'd love for you to do. If you'd do me a favor, go to Apple, Apple Podcasts or wherever you're listening to this podcast and rate and review the show. It helps us tremendously to keep us at the top of the list so we can continue to get this information and this message out to people. Because I truly believe that financial freedom is your birthright and I want to help each and every one of you claim it. Thanks so much.