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Building Your Money Machine

How High Earners Invest

22 Feb 2024

Description

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 expensesThe critical steps to eliminate 'destructive' debt and balance it with wealth creationDesigning a 'peace of mind fund' tailored for entrepreneurs and main income earnersInvesting strategies for high earners including maxing out 401(k)s, understanding Roth IRAs, and utilizing the mega backdoor RothTaking advantage of tax-advantaged accounts before moving to regular brokerage accountsRECOMMENDED EPISODES FOR YOU If you liked this episode, you'll love these ones:My Money Planning Process to Achieve Your GoalsWhy HSA Accounts Are So PowerfulShould You Use a HELOC to Payoff Your Mortgage?Are You Really Living a Rich Life or a Bankrupt One?    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.comAffluent Entrepreneurs Private Facebook Group https://www.melabraham.com/group/CONNECT WITH ME:Website: MelAbraham.comYouTube: MelAbraham.com/tubeInstagram (@melabraham9): M

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