Episode 64: Forget passive! Here's why leveraged income is the real deal

This week's episode of the Right on Time podcast is all about the benjamins! My guest, Mel Abraham, is the best-selling author of The Entrepreneur's Solution: The Modern Millionaire's Path to More Profit, Fans & Freedom and the founder of Business Breakthrough Academy and Thoughtpreneur Academy. If that weren't impressive enough, Mel accomplished it all as a single, full-time father. And it wasn't easy! After seeing a portrait drawn by his 6-year-old son which pictured him standing in front of two computer screens and talking into two phones, Mel knew that he had to make some serious changes… and find a balance between profits and presence. Mel made a BIG shift in both the way that he worked and how his money worked for him, tapping into new types of income that required less of his time and energy — an approach that paid off in 2019 when he stepped away from his business to focus on his health after a cancer diagnosis. Mel is now a leading expert in building affluence through entrepreneurship, creating more wealth with less sweat, and achieving peace of mind through financial liberation. In this conversation, we dive into how to get money to work harder for you than you worked for it, how to build a business model around your book that'll 10x its revenue, and why "freedom" shouldn't be your #1 source of motivation as you build your business. In my latest podcast episode, you'll discover: Wealth-building tips for investing and financial planning —and why you need to know where your finish line lies Why passive income is actually a myth (and how to create leveraged income instead)! How the lessons he learned from his son shaped the way he runs his business — and how he dealt with his cancer diagnosis Remember to subscribe on iTunes, Google Play, and Stitcher!   Highlights:  01:28  Meet Mel Abraham 04:07  Mel's journey 06:55  Mel's cancer diagnosis 08:14  His most valuable lessons 11:22  Creating cash flow to feed freedom 13:08  Five stages of income 17:22  Residual income & publishing 19:25  Importance of your financial machine 19:53  How to prioritize 24:15  Financial planning & finish lines 28:47  Finish line & microloans story 32:07  Wrap-up   Thank you for listening! Want more information and tips? Bookmark ambermccue.com/blog and follow Amber on Instagram: @AmberMcCue   Mentioned in this episode: Mel Abraham https://melabraham.com  https://podcasts.apple.com/ca/podcast/the-affluent-entrepreneur-show/id955356128  https://www.facebook.com/mel.abraham  https://www.youtube.com/c/melabraham  https://www.amazon.com/Mel-H.-Abraham/e/B00S1PSVXE%3F  Twitter: @melabraham9  Instagram: @melabraham9