How to Save YOUR First $100k (My Savings Framework)

  Рет қаралды 6,502

Mel Abraham

Mel Abraham

Күн бұрын

Are you ready to build your first $100,000 in wealth? It's not just a dream-it's doable with the right framework!
In today’s episode, I dive deep into the strategies you need to save your first $100,000. I explain why the initial hundred thousand is the hardest to accumulate and how it accelerates from there. Then, I introduce my WEALTH framework-work the plan, enhance your income, allow for emergencies, lower your debt load, get tactical with your investing, and harness your resources. These actionable steps will help you get on the pathway to financial success.
Want to make the leap towards financial freedom and see your money work harder for you? Tune in to the full episode now!
IN TODAY’S EPISODE, I DISCUSS:
-Why the first $100,000 is the hardest to save
-The exponential nature of wealth creation
-The six-step WEALTH framework for building your first $100,000
PRE-ORDER MY NEW BOOK:
Building Your Money Machine: How to Get Your Money to Work Harder For You Than You Did For It!
www.yourmoneymachinebook.com
The key to building the life you desire and deserve is to build your Money Machine-a powerful system designed to generate income that’s no longer tied to your work or efforts. This step-by-step guide goes beyond the general idea of personal finance and wealth creation and reveals the holistic approach to transforming your relationship with money to allow you to enjoy financial freedom and peace of mind.
Part money philosophy, part money mindset, part strategy, and part tactical action, these powerful frameworks will show you how to build your money machine.
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★ WHO IS MEL ABRAHAM ★
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I’m a CPA by education but an entrepreneur by exhilaration, entrepreneur and author of the #1 Bestseller, The Entrepreneur's Solution: The Modern Millionaire's Path to More Profit, Fans & Freedom. I’m the founder of Thoughtpreneur™ Academy & Business Breakthrough Academy where I help entrepreneurs bring their businesses to the world and build the lifestyle that they want. I have helped and advised some of today’s top entrepreneurs to build their businesses, create their wealth and find financial independence.
After finding a cancerous tumor in my bladder larger than a baseball in June 2019, I began to openly teach The Affluence Blueprint™ because my cancer journey spotlighted the immediate and urgent need for entrepreneurs to find “financial liberation” and peace of mind. Most entrepreneurs are building a financial house of cards and don’t even realize it…and traditional financial advice will not work for them.
Now it’s your turn!
Meet Mel at melabraham.com/
Cheers,
Mel
==== Time Stamps ====
00:00 Show for entrepreneurs to achieve high-level success.
05:56 Enhance income, improve skills, allow for emergencies.
08:42 Debt brings stress, need a payoff plan.
12:38 Employer matches 401k contributions for free money.
15:02 Evaluate expenses, debt, savings, set specific financial goals.
19:04 Financial liberation is your birthright; join now.

Пікірлер: 20
@MelAbraham
@MelAbraham Ай бұрын
To go deeper, pre-order my new book, Building Your Money Machine: How to Get Your Money to Work Harder For You Than You Did For It! When you do you’ll also get over $1300 in wealth resources & bonuses for FREE! CLICK YourMoneyMachineBook.com
@tuttoaposto4011
@tuttoaposto4011 24 күн бұрын
Hi Mel, question for you- I contribute to a state pension and my wife contributes to a 401k. We also have a brokerage account with ETFs. Should I put more into the brokerage or into my wife’s 401k or should I open a 403b?
@FreshWaterWindsurfer
@FreshWaterWindsurfer Ай бұрын
Once I got honest and humbled myself I got a second job and paid off $20,000 in credit card debt in 1.5 years. Increasing my income was the biggest tip in getting out of debt. I just couldn't do it with my regular job, and I was too proud to take a second job. Now i got the emegency fund and I'm on the road to my first $100,000k . Never felt such peace and serenity! Thanks Mel this video was great!
@TheLegend-uq1gz
@TheLegend-uq1gz 9 күн бұрын
You are absolutely correct. It took me about 11 years to get to my first $100k, now I’m at $205k, the distance between 100 and 200 for me was about 4 years. I am sure getting to $300k will be shorter. Thank you for your great teaching.
@navyy8SD
@navyy8SD Ай бұрын
Best channel on You Tube !
@adrian3747_
@adrian3747_ 6 күн бұрын
thank you for ur video. Just recently subscribed and it’s motivating
@VitalBigras
@VitalBigras Ай бұрын
Great video ❤ I live on a low income but no debts
@Nova2Yung
@Nova2Yung Ай бұрын
thank you Mel!
@buckbyrd45
@buckbyrd45 Ай бұрын
You are the Truth! Thank you for the strategies
@MelAbraham
@MelAbraham Ай бұрын
Trying to serve for sure
@siphumelelemakileni1406
@siphumelelemakileni1406 Ай бұрын
Can I ask, where is the $100k stored exactly while saving it. Is a high yield savings account or do you grow it in the stock market through a brokerage account?
@MelAbraham
@MelAbraham Ай бұрын
Any liquid funds that I need in the next five years, I will put in an insured high yield savings account that is fully liquidated and fully insured. Anything beyond that I will typically invest over and above the amount set aside for taxes and liquidity.
@BK-gh9us
@BK-gh9us 10 күн бұрын
After neglecting this for so long, I’ve gone from literally $3.84 to roughly $230k in ten years… most of this has occurred in the last five. ✌️ things I’ve learned along the way. 1️⃣ it won’t happen “accidentally”. You have to be more intentional with your finances. 2️⃣ Be more process oriented (I.e. not results oriented). Because honestly, the destination is so far off, you will get discouraged (and quit) any other way. Just be diligent, do the right thing for the sake of it. 👍
@TheLegend-uq1gz
@TheLegend-uq1gz 9 күн бұрын
I like the key word you used here: intentional. Nothing good will happen accidentally. You can’t wander to the mountain top.
@foodmens
@foodmens Ай бұрын
Always Top Quality content Sir 🎉❤
@Divyv520
@Divyv520 Ай бұрын
Hey Mel , really nice video ! I was wondering if I could help you with more Quality Editing in your videos and also make a highly engaging Thumbnail and also help you with the overall youtube strategy and growth ! Pls let me know what do you think ?
@derek_the_great7455
@derek_the_great7455 Ай бұрын
401 k is for losers
@adrian3747_
@adrian3747_ 6 күн бұрын
why
@user-wl7jy9wu9m
@user-wl7jy9wu9m Ай бұрын
Awesome, Mel..and of course, thank you. Pre ordered the new book on Amazon. I can't wait till 11th June.. UK fan..we have a SIPP equivalent to your pension in the states and a stocks & Shares ISA tax wrappers. I invest in a global fund and a money market fund with Vanguard low cost fees in my pension and a Target retirement 2045 fund in my ISA ; same as your target date funds with Vanguard. I'm a third of the way to 100k. keep up the great work Mel..much appreciated I'm 53.started late, but better than never. Please do a video for 40's 50's saving investing. .
@MelAbraham
@MelAbraham Ай бұрын
Awesome thanks so much and definitely will be doing those videos
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