When it comes to IRAs, do you go traditional or do you choose the Roth path?

It's a common question, and honestly, both have their benefits and potential drawbacks.

In this episode, I break down the complexities of Roth and Traditional IRAs, covering crucial aspects like tax benefits, contribution limitations, early withdrawals, investment options, and more. The aim is to provide you with the knowledge needed to make well-informed financial decisions that align with your future goals.

Don't forget, understanding the specifics of Roth and Traditional IRAs is essential for anyone mapping out their financial future.

Be sure to tune in to the full episode to absorb all the valuable insights and take charge of your financial destiny.

IN TODAY’S EPISODE, I DISCUSS: 

• Tax advantages of Roth IRA and Traditional IRA
• Contributions and withdrawals comparison
• Income and contribution limits breakdown

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• Why HSA Accounts Are So Powerful
• What to Do Today to Pay Less Tax and Keep More Money
• Demystifying Your Credit Score & Does It Matter
• Should You Convert Your IRA to a Roth IRA?

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): MelAbraham.com/ig
Facebook Group: MelAbraham.com/group/
TikTok: https://www.tiktok.com/@melhabraham

GET MY BOOK:
“The Entrepreneur's Solution The Modern Millionaire's Path to More Profit, Fans, & Freedom” – melabraham.com/book

The journey to financial freedom isn't just about crunching numbers and watching your bank account grow; it's a transformative process that aligns your goals with your money.

Join me on this episode as we explore the world of accounting and tax professionals. I'll be sharing how to discern between different types of accountants, ways to find the right fit for your business, and the pivotal role these professionals should play in your financial journey.

When it comes to finding the right accountant, there's no one-size-fits-all approach. As we discuss the different categories of tax professionals – from bookkeepers to CPAs and tax strategists – you'll gain clarity on what each brings to the table and which one aligns best with your business needs.

Don't miss out on this episode - your business future may depend on it. Tune in, absorb the insights, and take actionable steps towards securing the right accountant for your financial journey.

IN TODAY’S EPISODE, I DISCUSS: 

• The categories of accounting professionals
• The difference between CPAs, tax preparers, and tax strategists
• How to choose the right CPA to guide you on your financial journey

RECOMMENDED EPISODES FOR YOU
If you liked this episode, you'll love these ones:

• Why HSA Accounts Are So Powerful
• What to Do Today to Pay Less Tax and Keep More Money
• Annuities...Investment, Insurance or Scam
• What to Do Now to Lower Taxes Before Year End

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): MelAbraham.com/ig
Facebook Group: MelAbraham.com/group/
TikTok: https://www.tiktok.com/@melhabraham

GET MY BOOK:
“The Entrepreneur's Solution The Modern Millionaire's Path to More Profit, Fans, & Freedom” – melabraham.com/book/

Imagine ending the year not just with a bang, but with a clear blueprint for your finances. 

Sounds too good to be true? 

Not at all! I'm here to share actionable strategies that will change the way you think about and use your money. We've all been there – swiping the card, not sure where the cash flows. 

But here's the thing: being intentional with every dollar is like a power play in the game of wealth. 

So, let's slice through our expenses, pump up those savings, and light the path to not just surviving, but thriving in every aspect of our lives. This isn't just about numbers and accounts; it's about crafting a life rich with success, health, and meaningful relationships. 

We're going big today, my friends, and by the time we're done, you'll have a money plan that's not only bulletproof but also bursting with potential.

Don't let another year slip by without aligning your cash with your aspirations. Tune into the episode and walk away equipped to make those dollars dance to your tune. Let’s make this a journey of financial enlightenment we take on together!

IN TODAY’S EPISODE, I DISCUSS: 

• Intentional spending and creating a financial plan with vision and purpose
• The importance of saving, investing, and understanding your expense
• Year-end reflections and setting goals for health, wealth, and joy

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• What to Do Today to Pay Less Tax and Keep More Money
• What to Do Now to Lower Taxes Before Year End
• Are You Really Living a Rich Life or a Bankrupt One?
• Cancer Was a Gift

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): MelAbraham.com/ig
Facebook Group: MelAbraham.com/group/
TikTok: https://www.tiktok.com/@melhabraham

GET MY BOOK:
“The Entrepreneur's Solution The Modern Millionaire's Path to More Profit, Fans, & Freedom” – melabraham.com/book/

Today, we're tackling a question that's been coming up quite a bit - the power of HSA accounts. 

Now, if you've ever wondered just how impactful they can be for your investments and medical care, stick around, and I'll break it down for you.

I'm thrilled to dive into today's episode, addressing a question from Kevin about HSA accounts. 

We'll unravel the layers of this financial tool, discussing qualification criteria, the triple tax advantages it offers, and the strategic ways to make the most out of it. This episode is all about empowering you to make the most informed financial decisions.

So, if you're curious about optimizing your investments and managing medical expenses wisely, this episode is tailor-made for you.

Have burning questions about finance, entrepreneurship, or anything in between? Drop them at askmelnow.com, and I might just answer them in the next episode. Let's make this journey to financial liberation a collaborative and enlightening experience. Can't wait to hear from you!

IN TODAY’S EPISODE, I DISCUSS: 

• The criteria for qualifying for an HSA account
• The triple tax advantages of HSA accounts
• The long-term investment potential of HSA accounts

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

• Should You Use a HELOC to Payoff Your Mortgage?
• What to Do Today to Pay Less Tax and Keep More Money
• Annuities...Investment, Insurance or Scam
• Q&A Why Taking a 401K Loan Can Destroy Your Wealth

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): MelAbraham.com/ig
Facebook Group: MelAbraham.com/group/
TikTok: https://www.tiktok.com/@melhabraham

GET MY BOOK:
“The Entrepreneur's Solution The Modern Millionaire's Path to More Profit, Fans, & Freedom” – melabraham.com/book/

Choosing between high-yield savings accounts and CDs is a big deal when it comes to planning your financial journey. 

It's a bit like deciding which road to take on a map—each has its own route, and you want to pick the one that gets you where you want to go most effectively.

In this episode, I'll break down the pros and cons of each option, empowering you to make the best decision.

We'll explore the difference between CDs (not the ones you play music on; we're talking certificates of deposit) and high-yield savings accounts. Are CDs making a comeback? Should you be using high-yield savings accounts instead? I've got all the answers right here for you!

Remember, there's no one-size-fits-all solution. It all depends on your specific financial goals and circumstances. But armed with the information we discuss in this episode, you can make an informed decision that best suits your needs.

IN TODAY’S EPISODE, I DISCUSS: 

• Pros and cons of CDs and high-yield savings accounts
• How to use a CD ladder for increased liquidity
• The benefits of high-yield savings accounts for short-term needs

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

• Should You Use a HELOC to Payoff Your Mortgage?
• Making Sense of Life Insurance - What to Avoid!
• Using Target Date Index Funds to Build Wealth
• Q&A Why Taking a 401K Loan Can Destroy Your Wealth

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): MelAbraham.com/ig
Facebook Group: MelAbraham.com/group/
TikTok: https://www.tiktok.com/@melhabraham

GET MY BOOK:
“The Entrepreneur's Solution The Modern Millionaire's Path to More Profit, Fans, & Freedom” – melabraham.com/book/

Have you ever wondered if you're truly living a rich life or one that feels bankrupt on the inside? 

Join me in a thought-provoking episode where we dive deep into the meaning of wealth and fulfillment that extends beyond the surface.

This isn't your typical episode. I'll be replaying a mentoring session with one of my elite clients, where we delved into the challenges of business, fulfillment, and life. 

We explored why focusing only on profits and systems can leave us feeling empty and how to build a business that aligns with the richness of lifestyle, legacy, and values.

Discover how aligning your business decisions with a rich life above the line can lead to true affluence. Tune in and start your journey to a life that's not just financially successful, but deeply fulfilling and enduring

IN TODAY’S EPISODE, I DISCUSS: 

• The importance of measuring wealth in time and making each moment count
• The common mistake entrepreneurs make of focusing solely on profits and success
• The game-changing framework for prioritizing values, meaning, lifestyle, and legacy

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• How to Expand Your Money Thinking with Chris Harder
• What to Do When Your Financial World is Crumbling with Brandi Mowles

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): MelAbraham.com/ig
Facebook Group: MelAbraham.com/group/
TikTok: https://www.tiktok.com/@melhabraham

GET MY BOOK:
“The Entrepreneur's Solution The Modern Millionaire's Path to More Profit, Fans, & Freedom” – melabraham.com/book/

The idea of using a Home Equity Line of Credit (HELOC) to pay off your mortgage is an intriguing financial strategy that has gained popularity in recent years.

It's often touted as a way to save money on interest and potentially pay off your mortgage faster. But is it the right choice for you?

In this episode, I aim to provide a comprehensive and well-rounded perspective on the subject. By doing so, I can help you gain a deeper understanding of the HELOC strategy and its associated implications. It is essential to consider both the advantages and potential risks before deciding if this approach aligns with your overarching financial goals.

If you are seeking clarity on whether using a HELOC to pay off your mortgage is a suitable path for your financial journey, and if you want to make an informed decision that aligns with your unique circumstances, this episode is a must-watch.

IN TODAY’S EPISODE, I DISCUSS: 

• How a HELOC works
• The potential benefits and pitfalls
• The pros and cons of using a HELOC to pay off your mortgage

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• Annuities...Investment, Insurance or Scam
• What to Do Now to Lower Taxes Before Year End
• Q&A Why Taking a 401K Loan Can Destroy Your Wealth
• My Favorite Investing Accounts (And How to Maximize Your Returns)

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): MelAbraham.com/ig
Facebook Group: MelAbraham.com/group/
TikTok: https://www.tiktok.com/@melhabraham

GET MY BOOK:
“The Entrepreneur's Solution The Modern Millionaire's Path to More Profit, Fans, & Freedom” – melabraham.com/book/

With tax rates approaching 40-50% in some states, every dollar saved is significant. 

What can you do right now to reduce your tax bill and keep more of your hard-earned money?

In this episode, I share a checklist of 10 impactful tax strategies to consider implementing before December 31st. From reviewing your income and expenses to maximizing retirement savings and potentially converting IRAs to Roth, learn practical tips that may help lower your tax obligation and increase your take-home pay.

The time to act is now. Let's make sure you're not overpaying in taxes and that you're on the path to a more prosperous financial future. 

So, join me as I uncover the secrets to paying less tax and keeping more of your hard-earned money.

IN TODAY’S EPISODE, I DISCUSS: 

• Updating wills and trusts for life events
• Tax advantages of S corporation over LLC
• Reviewing income and expenses for tax planning

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

• Annuities...Investment, Insurance or Scam
• What to Do Now to Lower Taxes Before Year End
• Q&A Why Taking a 401K Loan Can Destroy Your Wealth
• My Favorite Investing Accounts (And How to Maximize Your Returns)

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): MelAbraham.com/ig
Facebook Group: MelAbraham.com/group/
TikTok: https://www.tiktok.com/@melhabraham

GET MY BOOK:
“The Entrepreneur's Solution The Modern Millionaire's Path to More Profit, Fans, & Freedom” – melabraham.com/book/

Are annuities the key to creating wealth and financial security, or are they just another scheme?

Get ready as we dive into the world of annuities and uncover the truth behind this controversial financial product.

In this episode, I’ll discuss the pros and cons of annuities and the potential pitfalls to watch out for when considering this financial product.

We’ll talk about the need for entrepreneurs to create success beyond wealth and how annuities can provide a steady stream of income. I’ll delve into the different types of annuities, their issues, and the importance of understanding the fees and complex structures associated with them. And, I’ll share real-life examples and cautionary tales to help you make informed decisions.

Whether you're striving to safeguard your financial future or seeking clarity on whether annuities align with your investment goals, don't miss this episode. Tune in to gain valuable insights and safeguard yourself against potential scams or costly missteps.

IN TODAY’S EPISODE, I DISCUSS: 

• The different types of annuities and their pitfalls
• The need for success beyond wealth and how annuities can play a role
• The importance of understanding fees and complex structures

RECOMMENDED EPISODES FOR YOU 

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

• Q&A Why Taking a 401K Loan Can Destroy Your Wealth
• Making Sense of Life Insurance - What to Avoid!
• Using Target Date Index Funds to Build Wealth
• My Favorite Investing Accounts (And How to Maximize Your Returns)

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): MelAbraham.com/ig
Facebook Group: MelAbraham.com/group/
TikTok: https://www.tiktok.com/@melhabraham

GET MY BOOK:
“The Entrepreneur's Solution The Modern Millionaire's Path to More Profit, Fans, & Freedom” – melabraham.com/book/

As the year-end is closing in, it's a great time to chat about how to keep more of your hard-earned cash in your pocket.

By making some clever money moves before December 31, you can seriously cut down on what you owe when tax season rolls around.

In this episode, I’ll guide you through strategic steps to minimize your tax burden. We'll discuss reviewing expenses, verifying classifications, and maximizing deductions. And, we'll delve into the benefits of retirement plans, charitable donations, and the intricacies of crypto transactions.

Being proactive in your tax strategy can result in more money in your pocket and help you achieve your financial goals. So, stick around to find out what you can do now to max out your deductions and minimize your tax worries before the year's up.

IN TODAY’S EPISODE, I DISCUSS: 

• Reviewing expenses and correct classification
• How Section 179 impact equipment expenses and potential tax deductions
• Consulting a tax advisor for deductions and strategies

RECOMMENDED EPISODES FOR YOU 
If you liked this episode, you'll love these ones:

• Q&A Why Taking a 401K Loan Can Destroy Your Wealth
• Making Sense of Life Insurance - What to Avoid!
• Using Target Date Index Funds to Build Wealth
• Doing Nothing with Your Money Isn't An Option!

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): MelAbraham.com/ig
Facebook Group: MelAbraham.com/group/
TikTok: https://www.tiktok.com/@melhabraham

GET MY BOOK:
“The Entrepreneur's Solution The Modern Millionaire's Path to More Profit, Fans, & Freedom” – melabraham.com/book/