How to Turn $5K into $1 Million – Grant Cardone
Would you invest 8 minutes of your life to learn how Grant Cardone turned $5,000 in $1,000,000? Grant Cardone Net Worth is a top Google search. The question should be more about how did Grant Cardone build his net worth. And that’s what you’re about to learn in this clip from a recent episode of The Cardone Zone.
How much can can save in 30 days? If you want to save $5,000 in a year, you need to set aside $417 per month. That’s 14 bucks a day. What do you spend 14 bucks a day on now? It’s no money. Imagine you’re a waiter for a second. Everyday you work, when you get home, put $21 dollars into a shoebox and at the end of the month, go put that into a sacred savings account in your bank. Consider opening 3 CDs. A 30, a 60, and a 90 and just start rotating those deposits.
How to Turn $5K into $1 Million – Grant Cardone
If you can find a way to earn 20% on this money and add $5,000 every year, you’ll have $1,125,128.00 in 20 years. What’s crazy though is that when you cut the interest rate in half, it reduces the future value by 2/3. So, wouldn’t it make more sense to find that 20% vehicle?
The question now is, what’s the target? What’s your target? Is it big enough to not just motivate you but to drive you and make it easy to put that $21 bucks in a shoe box and forget it until it’s time to put it in the bank?
What kind of vehicle is out there that can pay you 20% over 20 years?
For Grant it was Real Estate. Grant’s formula: Make money + Push it aside. Repeat. Add in lots of homework, study and diligence.
What is your vehicle? It’s out there.