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The games and strategies of the rich. What I learned as a CPA for the ultra wealthy.
Manage episode 473040815 series 3368904
Content provided by Mel H Abraham, CPA, CVA, ASA, Mel H Abraham, CPA, CVA, and ASA. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Mel H Abraham, CPA, CVA, ASA, Mel H Abraham, CPA, CVA, and ASA or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://ppacc.player.fm/legal.
Welcome to another episode of the Building Your Money Machine Show. Today, we're exploring the intriguing world of the ultra-wealthy and the money games they play that often seem out of reach for the rest of us. But here's the secret — many of their strategies are actually accessible to you, and that's exactly what I'm going to uncover.
Having worked as a CPA for the ultra-wealthy, I've witnessed firsthand the key mindset shifts and financial strategies that set them apart. In this episode, I'll be breaking down those principles to help you bring them into your own life, regardless of your current financial situation.
We delve into the fundamental shifts in thinking from merely accumulating cash to effectively controlling and generating cash flow through assets. I'll walk you through the concept of affluence cash flow and why the ultra-wealthy focus on long-term, intergenerational wealth — thinking in centuries, not decades.
We also tackle, leveraging debt wisely. Understanding productive vs. destructive debt is essential to building lasting wealth. Plus, I'll share insights on using the tax system to your advantage and the significance of holding investments that grow and provide income.
IN TODAY’S EPISODE, I DISCUSS:
- The mindset shifts for controlling assets and creating cash flow
- Importance of viewing wealth through a long-term lens
- Utilizing the tax system effectively through business and strategic asset management
- Investing in cash-flowing assets and diversifying portfolios
- Protecting wealth with appropriate legal and insurance measures
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- The #1 Finance Book Millionaires Won't Tell You About: https://youtu.be/Z_QHXVak_m0
- 11 Tiny Habits That Made Me Rich: https://youtu.be/UFByH_2OAl4
- It Took Me 30+ Years to Realize What I'll Tell You in 22 Mins: https://youtu.be/7D6K6_4Fcl4
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