Build Your Money Machine With Mel Abraham

We focus on building your financial freedom with the guidance of Mel Abraham, author of "Your Money Machine." Mel shares advice on creating a money machine that allows you to earn independently of your day-to-day efforts, emphasizing the importance of financial education and being prepared for when life happens. 

If you're looking to take control of your financial future, Mel's insights on avoiding destructive debt and investing wisely offer a clear path to sustaining wealth without sacrificing the joys of life.

Get the Money Machine book and bonuses at https://yourmoneymachinebook.com

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Links mentioned in this episode:

• Get the Money Machine book and bonuses at https://yourmoneymachinebook.com

Kwadwo [QUĀY.jo] Sampany-Kessie’s Links:

• Subscribe to The Art of Online Business’s YouTube Channel 
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Mel’s Links:

• Get the Money Machine book and bonuses at https://yourmoneymachinebook.com
• DM Mel: https://www.instagram.com/melabraham9/
• Subscribe to Mel’s YouTube channel

Timestamps:

0:00 Building Your Money Machine

15:54 Getting Started With Wealth Building

31:13 Financial Freedom Through Wise Choices

35:59 Financial Freedom Crusade

Transcript

Speaker 1: 0:00

Welcome back to another episode, and this one is very special because it's for you. We have been blessed with the opportunity to generate a lot of income with our online businesses, but what are you doing with the income? So my question is, I'm curious do you feel like you're on the path to your dreams with this online business vehicle? A recent survey by Achieve says a little more than one out of 10, 11% of people are living their definition of financial freedom. So if you feel like you aren't where you want to be, you're not alone, and it doesn't need to be that way.

Speaker 1: 0:41

Most of us never had the map to do money right. I certainly didn't, and it's. I can't go out and like blame my parents, but they didn't teach me about financial education, about money, and so now the guest on this episode is going to give you the opportunity to change the way you think about money. It's simpler than you think and no matter where you are in your financial journey, now is the time to get things in order. I want to introduce to you Mel Mel Abraham he's the author of your Money Machine Book, mel how you doing.

Speaker 2: 1:22

Oh my God, so good to be here. Yep, building your money machine, here we go.

Speaker 1: 1:26

So, Mel, you and I met already back about three years ago, when I was the first part of a paid accelerator mastermind, the one that Rick Mulready ran, and the reason this topic comes so close to home is I remember being a new online business owner, you know, making decent money, but I hadn't yet cracked like I don't think I'd cracked like $6,000 a month at that point, you know, and I was sitting in a room with people who, you know, were pushing a million dollars in revenue, you know, maybe the lowest was at like $300,000, $400,000 in annual revenue.

Speaker 1: 2:04

And I remember sitting there and hearing some of the same financial conversations that I was used to hearing at somebody who had just a regular day job. I mean, we're talking about how do I make the finances, how do I make the bills at the end of the month, or how do I put together what am I trying to say? It just dawned on me that it didn't matter if you make a ton of money or what some people would call like an upper 5% income. You know, in the US you still had to run your finances right in order to not live. Quote, unquote pay to check the paycheck or, for us, finances right in order to not live quote unquote pay to check the paycheck, or for us, month to month. And so, Mel, like I would love for you to speak to what you're seeing with online entrepreneurs right now.

Speaker 2: 2:54

Oh, my God, this is such a good question, and a good one to start with. Here's the thing First things first. I will let you all off the hook. I will let you all off the hook. It ain't your fault, I mean. And the amount of money you make isn't the thing that drives your freedom or your wealth. Let's just look at what's out there. Let's look at you know, mike Tyson, burt Reynolds, nicolas Cage I can rattle more and more off that made hundreds of millions of dollars, lots of money, well beyond most of us are ever going to even see, and they ended up broke.

Speaker 2: 3:39

So yet there's a study 10,000 millionaires that showed that 79% of them became first generation millionaires, meaning that it wasn't gifted, wasn't inherited, wasn't won, it was created in their lifetime. Eight out of 10, that is good statistics on our side. And now you look at it and say 31% of them never made much more than $100,000 a year. So, given those two things, you sit back and you look at it and go. Then it really isn't the income that's driving our wealth and the freedom. It's something different, it's something else. But the problem is that and I hate to start the whole show with statistics, but I think it sets the page a little bit. 72% the American Psychological Association just said 72% of people are stressed about money. So it doesn't take a lot of money to build wealth. We see that 72% are stressed about money. We've seen a lot of online entrepreneurs that make a lot of money, but they don't have anything really to show for it.

Speaker 2: 4:43

What's happening? What's happening is that actually, we're not talking about it. So us having this conversation is huge is that most of our money lessons over the years are caught, not taught. We take it in from observation. We watch our parents, we see the media, we see social media. You've got people on TikTok saying, no, buy a $200,000 R8. That's a good investment. Anyone questioning it? It's not.

Speaker 2: 5:10

So the reality is that we are not being deliberate about our financial education. Not that it has to be complex, and we've been taught to. Hey, I came up in a household where we're talking about money was impolite. You're not supposed to, so we never talked. Well, but if, if, everyone's stressed about it and people aren't getting it right but we're not supposed to talk about, how do we solve the problem? The reason I wrote building your Money Machine partly is I want to have a conversation. It becomes the opening volley for the conversation so we can change it. And so I think that at the very beginning, the first thing is to sit back and say it's okay to not know what is the next step because you weren't meant to know, you weren't taught to know. But it's not okay, now that you know that, to ignore it.

Speaker 1: 6:13

So, mel, let's start here. Yeah, what is a money machine? And the second question is what would you tell someone is the first step to get control of their financial future? But you can answer those in any order you want, because I also would love for the listener to hear your story. You're not just talking about building this money machine. This is something that you went through personally when you got unexpected news several years ago. So, like, please, please, share it with the listener.

Speaker 2: 6:48

Oh, yeah, yeah, absolutely so here let's just talk about how it got born in my life and, believe it or not, this whole concept was born out of at the hands of a six-year-old. Bottom line is that I was a single full-time dad. I was an entrepreneur, I was building my business, I was doing the things, I was on the treadmill, I was running, I was making money I'm an accountant by trade, cpa by trade and the money was coming in. Things were going well and then Jeremy, my son, at six years old, comes running in and saying Daddy, daddy, I drew a picture of you at school today, and so I kneel down and I grabbed this picture and there it is me, standing there in front of two computer screens and a phone in each ear, and I'm the one on the desk ringing.

Speaker 2: 7:34

That hits home, oh, it hits home. It was a mirror into my soul. And this boy was looking at me saying indirectly dad, you're screwing up. I get that you want the profits, but I need the presence. And he wasn't getting it.

Speaker 2: 7:49

And, and for me that hit hard because I, he was the greatest gift in my life at that point and now, and I was failing and I was failing him, and that's when it's it challenged my beliefs around business and about money, saying can they coexist? How do I do money differently? How do I do business differently? So it allows me to cherish and nurture the gift of fatherhood, or whatever it is in our lives, and it's easy to come up with excuses.

Speaker 2: 8:22

Now, that is what gave birth to the whole idea of a money machine and what I realized in general terms. What is a money machine? It is a way to separate your ability to earn from the efforts to earn it. That's really what we're trying to do, because as long as you have to be on the treadmill, you have no freedom. There is no freedom. I was on the treadmill and the only way there is no freedom. I was on the treadmill and the only way I was going to make more money was to run faster, run longer, run harder, and the only thing that guaranteed was breakdown or burnout or disappointing the people you love.

Speaker 1: 8:57

We're getting older, we can't run faster.

Speaker 2: 9:00

No trust me, and so I had to sit back and say wait a second, we are earning money. We are told to earn money. We are in business. We're online entrepreneurs. We're earning money. Yes, we need that, but the earnings itself isn't the wealth and the freedom. Why do we do online entrepreneurship? It's to provide a solution. It's to have an impact. It's to get a message out there. It's to provide a solution. It's to have an impact. It's to get a message out there. It's to solve problems.

Speaker 2: 9:27

Nothing in there said to build wealth. Nothing in there said freedom. Nothing in there said control. But we interpreted well, all I'm going to do is online. It's online, so I'm going to be on some beach somewhere with my laptop and collecting money. Nothing's further than the truth. Here's what it is meant to do to create a cash flow stream, and that cash flow stream isn't your wealth, but it is the fuel for your wealth. It is the building blocks of a money machine, and a money machine is built by acquiring income, generating assets that don't require your time. Yeah, okay. And so this is what I was set out to do is say, okay, I got to run on the treadmill. But how do I use that run on the treadmill to generate cash to build this money machine. So I am on an earnings journey and a money journey at the same time, and now it gives me that freedom.

Speaker 2: 10:28

Now, the importance of this, like you alluded to, hit home in 2019 because I was doing really well successful, you know, living on the beach, traveling and speaking and everything and I ended up in a hospital bed with a surgeon look at me saying you have cancer. Now, I'm not a drinker, not a smoker, you know. I just I lived a clean life. No one in my family ever had cancer. I they found a tumor in my bladder that they thought was five centimeters ended up being seven and a half centimeters. They said you might lose the prostate because it's on top of that. We might have to put a bag and a tube in for the kidney and if it's bad, you're going to lose your bladder and potentially, you lose your life. So life got flipped upside down.

Speaker 2: 11:17

Now, in that moment, I knew I have to fight the cancer. I have to fight it psychologically. I have to fight the cancer. I have to fight it psychologically, physically, medically, energetically, spiritually. I had to fight it in all ways, but I also knew that I didn't have to fight it financially. And the reason I didn't have to fight it financially is because I had the money machine. I had built it because of what happened with Jeremy years and years ago and I didn't realize the importance of it until this moment, because it allowed me to sit back and say we're shutting everything down, I'm no longer working, I'm no longer in business, I'm putting it on hiatus, and 100% of my efforts was to fighting, healing and succeeding in that process.

Speaker 2: 12:07

And what I'm talking about isn't a savings account. I'm not talking about draining things, selling things and being able to live for a period of time. I am talking about a machine that prints money for you, that basically, it's generating income that allows us to live. That's what happened. It's generating income, allowing us to live. That's what happened Is that we're generating income allowing us to live. And then, when I came through it, the machine was actually even bigger than it was when we started, even though it was generating the income and I wasn't even working. And now that gave me the opportunity to, when I decide to get back in the game, to just jump back in the game, and that's what the money machine is.

Speaker 1: 13:47

This is the episode that everyone needs to hear, because life, if anything, is consistently unpredictable. And the fact that that diagnosis happened to you and you already had the money machine built I mean just hearing that makes me shudder, because most of us do not have a money machine that's going to take us from month to month. When I say when life happens because life, life does happen, it will happen it's not, it's not if it's, it's when, if not to us, to somebody we love, but unfortunately, along this path of life, like we all are going toward the same destination From dust to dust, if you would. So, mel, right now, the listener they're awake, they're like, oh my gosh, for the listener who is making great money in their business and doesn't have this money machine built up, or even a listener like myself, who is most of us are working at home right now and we grapple daily with the.

Speaker 1: 14:50

You know, when you talked about your son, it hit me too, because my son, I tell him I'm going to work and it's a lot different than like my dad. My dad told me he's going to work and he disappeared, but every time I go to work, my son knows exactly where I am and I'm up here, which means if I miss a meal, if I work on the weekend, he can see where I'm at with my work and make sure that my business is providing so that I can be with my family more, but then also build up financial, the money machine, if you will. So, first step what does somebody do like starting now, if they don't feel they have their money machine even even started? What? What is a practical first step to get?

Speaker 2: 15:39

Yeah, and it's going to sound odd, but you'll to sound odd, but you'll understand where it's coming from. Is that-? Okay, I think the first is to be intentional. When this whole thing happened with Jeremy, they all said hey, you need work-life balance, work-life balance, we don't need work-life balance. It actually is a myth, it doesn't exist. Okay, what we need is harmony.

Speaker 2: 16:12

Harmony comes from living intentionally. Harmony is sitting back and saying I'm actually dictating every day, every moment of my life, and that it is not by happenstance but by deliberate action. So the challenge is that too often we are doing that. We are being told what to do, we are allowing our clients to tell us what to do. We're not putting boundaries in. We're not doing that and all of a sudden, even though we may have the wealth, we have the bank account, we have all of that we're living bankrupt lives. So it's not about the money if it doesn't bring life along with it. And so I want to be really clear about being really intentional, about what that might look like.

Speaker 2: 16:54

Now, one of the things that I did when we talk about intentional, and because you mentioned your son with my son about intentional, and because you mentioned your son, yeah, with my son, we created a calendar and on that calendar there was red zones and those red zones were his in advance, so he always knew when dad was home and he also knew any other color on that calendar. He could turn red at his option. Wow, and and and this may sound really cool and everything with that relationship Now he's 34, two grandkids and everything and is doing really, really well, but it's the same thing with your money, ok, the problem. So what I did is, in advance, I said here's what we're going to do so he could plan on it, he could depend on it and and it was intentional what about our money? How many of you are sitting back and saying in advance, this is what each dollar is going to go for, because what ends up happening?

Speaker 2: 17:55

Most of us are running in a situation where the money comes in and then we decide what to do with it. The problem is is then we are subject to temptation, we're subject to emotions, we're subject to all kinds of things which lead to guilt and shame and other things around money that will impact us, and then, all of a sudden, we don't understand why we're not where we want to be, because we weren't intentional. And so what I want us to do is to be very intentional about every single dollar that comes in before it comes in, and saying I know that this is where it's going to go, doesn't have to be complicated. But if I know that I'm going to have a $10,000 a month, how much of that's going to the mortgage? How much of that's going to food? How much is going to travel? How much is going to our future? And if we haven't dictated that or said that in advance, it is susceptible to loss, to emotional decisions. When our emotions go up with our money, our intellect goes down. Okay, we make bad decisions when they're emotional decisions when it comes to money. And so I want to take all the emotion out of it and say here's the first thing. So that's the first thing is saying I'm willing to be intentional.

Speaker 2: 19:13

The second you can't win the wealth game on the sidelines or in the stands. You have to be on the field. That means you got to get in the game. What does that mean? Here's what that means If you're not investing now, you have to start investing. It doesn't matter what's going on in the market, it doesn't matter what kind of economy we're in. It doesn't matter, because if you're sitting on the sidelines, you're going to lose. You can look at someone can put away $5,000 a year. $5,000 a year from age 25 to 65. The person that invested in an S&P 500 fund at 8% will end up with a million and a half dollars. The person that is scared and sitting on the sidelines puts in a 2% savings account. Now, mind you, both people invested $200,000 over the lifetime. That's it. One ends up with a million and a half. The person that didn't get in the game ends up with $300,000.

Speaker 1: 20:15

Huge difference, huge difference. The listener and me, we're not afraid to get a little tactical. I got a question.

Speaker 2: 20:23

Yeah.

Speaker 1: 20:24

Can you speak? So I'm about to turn 43. Can you speak to me? Or somebody a little younger than me, maybe somebody who's between 37 and 43. And, let's just say, less than $100,000 in the stock market, but still the vision is strong. To quote unquote either retire early or become work optional, as in the money machine is fully alive and well and able to replace, like most of the income, should something happen. Or should we need to just focus on our kids for a moment and for a moment in time or a period? What do, what do we do to catch up, so to speak?

Speaker 2: 21:00

A couple of things. So in the book I talk through in detail something called the wealth priority ladder, which is the way you build and say what does every dollar do? So the first thing is this I want people to have some liquidity, in other words, cash on the side for peace of mind. So the first two thresholds are having some liquidity and making sure that you don't have destructive debt in your life. Destructive debt is the debt for consumables. It's the stuff that you're trying to afford today, but you can't afford it. So you put it on credit cards and you pay for it over time. We're not playing the payment game Now. There is something called productive debt. I don't believe all debt's the devil. Productive debt is the debt that is going to generate more cash flow and or build your wealth. So buying a rental property with a mortgage is productive debt. You'll be happy about this. But using credit cards to pay for Facebook ads okay. Getting an ROI on that, a multiple back is productive debt.

Speaker 1: 22:13

Make sure the funnel is healthy, first Got to throw that in there.

Speaker 2: 22:15

Make the funnel healthy. First, to make sure you're getting it. Make sure you're getting it and now. But using a credit card for a luxury vacation or a big screen TV that you can't afford and you want to make payments on, that's destructive debt and it is consumable and we don't do it. So I want to eliminate that, because that's the stuff that's going to erode our future. Okay, once we know that we've got that in place, then it's really about us looking at investing. I want 20% to 25% of your income to be put aside for the future At the very beginning. Before you know how to invest or any of that stuff, just put it in a high yield savings account, out of sight, out of mind. High yield savings account is fully insured, no fees, 100% liquid You're going to get. Right now you're going to get 5% to 5.5% on it, so it's not horrible, but it is there as a temporary spot for us to then invest later. Now we can start looking at investing. Now. This next step is invest. Don't make it complex.

Speaker 2: 23:31

Now some people say should I invest in real estate? I have a very particular philosophy. I truly believe you build safety first, growth second. So my philosophy is safety first, growth. Second, what's the safer investment? Real estate isn't it. And here's why real estate isn't it, because I know that I'll get pushback from some folks on it. That's okay. If I have $50,000 to invest, I might be able to buy one property. Okay, so I buy one property, but now I'm beholden to that property. If I have a bad tenant that doesn't pay and I have to evict, if I have a bad repair that I didn't plan for, if I have a vacancy that's extended, all of that's going to require me to carry the property and the cash flow for a period of time. And if all I had was 50,000 and I put it in there, I have no diversification and at the beginning stages it's not the right thing to do. I just don't think so. Can we do real estate? Yes, once we have critical mass of safety in the portfolio and the liquidity to carry it.

Speaker 1: 24:41

If the first deal goes bad, okay, because of course the listener who is part of the real estate fam is saying but Mel, if I put 20% down, I'm essentially 5X-ing my money into this deal, and we can't do that in the stock market.

Speaker 2: 24:56

But I agree if everything works out. I agree if everything works out. And so if that property goes vacant and you don't have the cash to sustain it, how do you make the mortgage If the property like? I have a friend of mine who they bought a building and they wanted to redo the ceiling and the people came in and said, oh, there's asbestos here and you have a problem with the roof $150,000 repair and he had to put all the people out of the building because of the asbestos. So now you've got $150,000 repair. You had to relocate tenants. You're not making any money and collecting it. That's the only reason I'm saying it. Let's say that you have a couple of properties that are operating, you got cashflow, and let's say then, then you're, you're good. But at the very beginning it's a risky endeavor If you get the wrong property.

Speaker 1: 25:50

There we go. You know I'm I'm in the same camp as you. I had to ask that question for somebody who just is, let's say, following the TikTok gurus, because they make it seem so simple I'm just going to get a house and the next year I can refi and pull the cash out and just get another house, and it's so. Peace of mind. First, I like that you say that and you say don't make it complicated, invest it in the stock market. You want to break that down really?

Speaker 1: 26:18

simple, I know you've got a chapter in the book that talks about it.

Speaker 2: 26:23

Yeah, but let's make it really easy. So what I want to do, let's say I had the same $50,000. Instead of I'm not going to ask you to pick a stock, okay. I'm not even going to ask you to pick three stocks. I'm going to ask you to pick 500 to 3,000 stocks. Is what I'm going to ask you to do. I want to make it as easy as possible, no friction, and the way to do it is you're going to go into low cost ETF index funds either an S&P 500, a total stock market index or a target date fund. That's it. Not a lot of friction, not a lot of decisions. At starting out, typically, what I'll tell people is just do a target date fund, you know, because then they'll take care of the portfolio makeup. But what you're doing is, if you look at a 2055 Vanguard fund meaning that you told Vanguard that you want the money by 2055, they'll manage the portfolio to that point If you look at that fund, underneath it they basically have bought four other index funds or ETFs of their own.

Speaker 2: 27:27

Total stock market means that you've invested in 3,000 companies. Less risk, yeah, okay. A total international stock market, which meant that you've invested in multiple countries a bond index, diversified and potentially either a real estate index or an international bond. That's it. That's all they're doing. And now, all of a sudden, you took the $50,000 and spread the risk out over everything. If one company goes bad, it doesn't tank your whole future. The idea is to get critical mass here first, before we start going into something that puts more exposure in. And the things that we know about the stock market is one it's never, ever gone to zero, and if it does, we got bigger problems.

Speaker 1: 28:20

Right.

Speaker 2: 28:21

Second, it has always recovered. And third, if you look at the data, all we're talking about investing is long-term. I mean seven years and beyond, because here's why there was a study done. If you invest in the S&P 500 index one year and I don't know this data point, but one year if you look at it for one year 69%, 67% of the time you're up, push that to 10 years 94%. So why am I taking on the risk? Yeah, so why am I taking on the risk? Yeah, is it possible that I get a deal or a crypto or something and I hit it out of the park and I make a million dollars? It's possible. It's also possible. You lose everything.

Speaker 1: 29:12

Hand raised right here, definitely have lost over $20,000 in crypto because I thought it was going to the moon and I put my money in it. You know what that was a mistake.

Speaker 2: 29:23

Yeah, and so I just look at it and I go, and we can go hold down another rabbit hole on the crypto side, but the bottom line is this is your financial future, this is your family's generational wealth, this is the legacy that you're creating. Why are we taking risks with it? Let's do something that has a high probability of success. Let's do things that have been proven over time and let's keep it simple. Get in the game, stay in the game long term and allow it to build.

Speaker 1: 29:55

I 100% agree. The third question I want to ask you I'll ask in a moment, but I don't think I actually said to the listener this book, your book, building your Money Machine. First of all, it's linked up in the show notes and the YouTube description below. Second of all, it's coming out in a couple of days, less than three days, right, because we're Friday or we're not recording on a Friday, but this episode is in a couple of days, less than three days, right, because we're Friday or we're not recording on a Friday, but this episode is airing on a Friday and it's coming out in just a few days.

Speaker 2: 30:24

So you can, somebody can get it pre-ordered today, right, yeah, they can order it pre-ordered today. It'll ship out on on June 11th Tuesday, awesome, awesome. And and when they do that, I'm going to give them a couple of wealth resources gifts for doing that, to help accelerate their path and train them through things you know I'm talking to the listener.

Speaker 1: 30:45

Now it's please get this book, because your financial future matters. But think about how you serve people with your gift and passion, with your business. Wouldn't you want even more to make sure that you're serving your family by setting up this money machine correctly and, like? I pray nothing happens to you and you don't need the money machine until you retire? Great. But wouldn't it be even better to know that that's something that you can inherit to your kids? Or that's something that for me, like, for example, I help my mom out financially and to have something like this in place to where, if it doesn't need to take care of you, it can take care of your close loved ones. So that's my push, that's my plug Go down to the descriptions below Get the book. I mean the beauty of books and why we read and I know you're a reader too, right, so I'm preaching to the choir but the beauty of books is Mel learned how to do this over. What would you say, mel, about two decades? Yeah, two and a half decades. So two and a half decades of experience in learning how to build this money machine and going through it and having the machine provide for him and you can go down to the description below and get a book that gives you two decades of experience, and you can learn all that experience and apply it right now. Please go do that, all right.

Speaker 1: 32:16

So back to the next question, mel. Yeah, and this one. So let's say that you got your book because you're about to get it, you told me just before we hit record, you got the hard copy in your hand. Let's say that you got your book and you happened to cross a time travel machine because your next door neighbor was like straight out of Back to the Future. And so you're going back to yourself 20 years ago with this book in hand from the future. Maybe you disguise it because you know, however, time travel works. You don't want to ruin the future by giving it to your past self. But what I mean by this is what are you saying? What is the one piece of advice that you're giving to your 20 year ago business self as you hand this book, and why would you give him that advice?

Speaker 2: 33:06

This may sound odd, but the first piece of advice is that the ultimate purchase that you need to make is your freedom, because there are some things that I purchased for momentary pleasures that pushed my freedom away, because I put myself in debt, because I did some things that I probably shouldn't have done, and so if what's driving me is the ability to have what is a get-to life instead of a have-to life, a life built on choice versus demands, then I get to ask myself does this purchase, does this action get me closer to that goal or move me further away? But in my younger days, I just assumed I had plenty of time. I just assumed that everything was going to be fine and I could do it later. And the one thing that you'll see is that the more time you have, the less money you need. The less time you have, the more money you need. And so I didn't get that.

Speaker 2: 34:10

And I think, at the beginning, if I got that and said, hey, kid, get in the game, stay in the game, be deliberate with what you do, be intentional with what you do, and it will work out, it doesn't feel like it at the beginning, because you're in something I call the wealth flatline. It doesn't feel like it, but what happens is that your money will work harder for you than you did for it, and you will separate your efforts from your earnings and now you can create an income stream over time. It's not the norm, but if you want to live a positively abnormal life, then you can't do the norm.

Speaker 1: 34:46

We're going to end here. The more time you have, the less money you need. The less time you have, the more money you need. None of us knows what tomorrow holds and I just want to speak to the listener quick.

Speaker 1: 34:59

Also, you may not have heard of Mel. He's been on this podcast before and I just want to stress here because when somebody is talking about finances you know who is he from someone else. But Mel is a good friend of Rick Mulready, who is the former host of this podcast, and they go back quite a ways. So I just wanted to make that clear. Mel's not somebody who just showed up in my email with a book and because I like personal finance, I let him on the podcast. I'm quite careful who I let on the podcast and you can trust Mel. The book is in the descriptions below. Mel, thank you for writing this book building your money machine and thanks for being an open book yourself and sharing how the money machine concept came about, how it helped you when you actually needed it in your personal life, and thanks for sharing it with me and the listener, because I know it's going to help and change a lot of lives.

Speaker 2: 35:59

Oh my God, quasar, thank you for having me on and being able to get this message out there. I'm on a crusade to light the path to financial freedom for a million families, and I know I can't do it alone. I appreciate you, my friend.

Speaker 1: 36:12

I appreciate you too. So with that, until the next time you hear from me, listener, and you too, Mel, take care and be blessed, and we'll see you in the next one.