How to Stay Ahead as the Middle Class Shrinks

Building Your Money Machine

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://player.fm/legal.

6M ago 37:17

MP3•Episode home

Welcome to another pivotal episode of the Building Your Money Machine Show. Today, we're tackling a topic that affects millions of us: How to Stay Ahead as the Middle Class Shrinks. It’s no secret that economic pressures are squeezing the middle class, and I’m here to equip you with strategies.

The middle class, traditionally seen as a foundation of financial security, is rapidly shrinking. From stagnant wages to rising living costs, and the transformative impacts of technology and automation, the landscape is evolving. Many Americans are feeling the pinch, living paycheck to paycheck and grappling with financial instability and stress.

In this episode, I dig into the root causes of these economic pressures. We'll look at how wage growth has failed to keep pace with productivity and rising living costs, especially in housing. I’ll also cover how technological advances are reducing "middle-skill" jobs, contributing to job insecurity and stagnant wages.

In today’s episode, I discuss:

Mastering Financial Literacy: Taking 20-30 minutes weekly for financial education to gain clarity and control.
Building an Emergency Fund: Establishing a "peace of mind" fund covering 9-18 months of living expenses.
Diversifying Income Streams: Developing multiple income sources, like side hustles and investments.
Investing in Long-Term Assets: Focusing on growth assets like stocks and real estate.
Defining Your Financial Vision: Crafting a life vision that guides your financial decisions.
Managing Debt: Reducing reliance on high-interest debt and using debt productively.

RECOMMENDED EPISODES FOR YOU

If you liked this episode, click here to enjoy these and more:
https://melabraham.com/show/

Why Your Retirement Budget Is Most Likely WRONG
Life Advice From A 63 Year Old Self Made Millionaire
My Copy-Paste Strategy To Become Wealthy The Lazy Way
Why You Never Feel Like You Have "Enough"
Why You Aren't Investing (and How to Fix It)

RECOMMENDED VIDEOS FOR YOU

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

Why Your Retirement Budget Is Most Likely WRONG: https://youtu.be/vrNcnIJxg1c
Life Advice From A 63 Year Old Self Made Millionaire: https://youtu.be/tNhWvaddcjo
My Copy-Paste Strategy To Become Wealthy The Lazy Way: https://youtu.be/5YkAPad2K3g
Why You Never Feel Like You Have "Enough": https://youtu.be/pVrC7zcNxHg

ORDER MY NEW USA TODAY BESTSELLING BOOK:

Building Your Money Machine: How to Get Your Money to Work Harder For You Than You Did For It!

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.

When you do you’ll also get over $1100 in wealth resources & bonuses for FREE!

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

434 episodes