Grant Cardone Financial Advice: “Stay Broke”
FROM THE DESK OF GRANT CARDONE: When you start increasing your income, stay broke. I said broke—not poor. I have a policy to never, ever have money sitting around. Once I start increasing income, I immediately moved the surpluses to sacred accounts that were out of my reach and marked for future investments.
As soon as I started increasing my income, I went to my employer and told him to withdraw 40 percent of my gross pay before taxes and direct deposit those funds into personal accounts I had set up. They said they couldn’t do that. I said, “You do it for the IRS, you can do it for me.”
I set up three savings accounts, which I labeled something special, and treated these as sacred future investment accounts. (Never use 401k for these funds.)
Grant Cardone Financial Advice: “Stay Broke”
I remember when I first heard Michael Douglas say in the movie Wall Street, “Money doesn’t sleep.” I thought to myself, “But it gets bored!” I knew from watching other people handle money that when money sits around it gets spent, wasted, and blown. Because I didn’t fully trust myself to have cash sitting around, as soon as I created these surplus monies I directed all of it to accounts reserved to make future investments and create future passive income flows.
It seems human beings perform best out of necessity. Studying the super successful, and those who are not, I noticed huge differences. It is bizarre how the wealthy work like they are broke and those who need money the most don’t. Still today I watch the pretenders sleep like they are rich while I am up like I am broke. We both deceive ourselves but with very different outcomes.
“Pay the price today so you can pay any price tomorrow.”
A guy recently asked me, “Why are you still working so hard?” I didn’t want to go into a long philosophical explanation of how I am preparing for a major economic meltdown. I knew he was just being social. So I told him how much I loved my work in hopes to let it go at that.
Then he started saying dumb stuff like, “You only live once you know.” And then he topped it off with, “I never see you at the club anymore.” I got bored with him, so I patted him on the shoulder and said, “You never see me at the club, and I never see you at the bank!”
Grant Cardone Financial Advice: “Stay Broke”
When you quit complaining about money and start taking responsibility for increasing your income, it’s amazing what happens and how quickly it can happen… I cover this and your path to real wealth in my Millionaire Booklet…
