Grant Cardone teaching How to be a millionaire

Grant Cardone: How to be a millionaire

Money

The OG, Grant Cardone teaches his staff the truths about money and how to become a millionaire, the fast way.

If you don’t have your money right, if you are not thinking about money correctly, you will never make a sale.

A very valuable video to change your mindset and perspective about being a millionaire.

Being a millionaire is not enough

Everyone has that idea in their head about being a “millionaire”. The truth is that $1,000,000 dollars is nothing.

The single-digit millionaire cannot even provide his family with proper legal defense in America. Much less emergencies, divorces, business lawsuits, issues happening, two kids going to college. Nobody told you that.

You gotta change the way you look at money

Grant Cardone gives out some tips to earn and keep more money.

I do weekly sales training with my sales team to keep all my employees in sync with the mission. To help others reach success. But that doesn’t exclude my employees.

Grant Cardone

These are his 5 steps to become a millionaire:

  1. Target
  2. Income GI – 40%
  3. Broke-Invest
  4. Passive
  5. ?

Have a Target

You have to change the target and look at the target daily. If you are struggling right now you have the wrong target. When you change the target everything changes.

Every person I’ve ever sold I’ve treated as an investor.

You don’t need to be a bank to get other people’s money. The money I put into Real Estate is other people’s money.

Your first target should be $10 million dollars and nothing short of it.

Save 40% of your income

If you don’t like the term “save” use “store”. A better word for saving is storing. Store 40% of your income, pay the IRS their 40% and live with the rest.

This is the most difficult part in the beginning.

You need to get to a place where 40% of your gross income is saved. This will get you in the right track to becoming a millionaire (after following the 3 next steps)

Keep doing the math until you work it out. When I was 35 years old no one knew that I was a millionaire. Nothing had changed. $40 shoes, driving a Camry, with a million bucks in the bank, because I followed this rule.

Invest your savings

You are going to go broke and invest the “storage”. Meaning, once the timing is right invest your savings.

Do not invest on anything that is a “maybe”.

I only invest in things that I know will be there in the future.

Passive equals income

Continue investing your savings (storage) until your passive money is equal to your income.

You can’t risk this money. “Don’t lose money, number 1”

Warren Buffet

You can’t leave it in the bank, they can’t pay you anything.

Your target here should be: My passive income now exceeds my monthly income.

How much money would I need invested

You need two vehicles:

  • One that produces income.
  • Keep the target in mind.

A single digit millionaire cannot even provide themselves with their own personal defense in America.