How to Turn $5K into $1 Million – Grant Cardone

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.