After graduating from college, Grant Cardone was broke and swimming in $40,000 of student debt, he writes in his new book, “Be Obsessed Or Be Average.” Yet by the time he reached 30, he’d made his first million. Since then, the 58-year-old has built five companies and a multi-million dollar fortune.
In a recent interview with CNBC, Cardone says he would never put money into a 401k. It seems that he never wants to put someone else in control of his money for years. He calls 401ks “traps that prevent people from having enough.
What then is his suggestion for an alternative? “Focus on earning,” Cardone states. He also wonders if Wall Street “doesn’t believe you have the ability to earn money.”
In other words if you want to become self-sufficient, you must live your financial life that way. It is a sad fact that most of us believe that we have to either work to make someone else rich while getting a little to live on or we can give a financial guru our money and hope they return it back with interest. The good news is, if we can change our mind set, we can work to make ourselves rich and the best proven way it to put our money to work in our own secure account. This is exactly what Grant advises, ” put your money in “secured” accounts until there is enough to do the work you want to do with it. Once you get there put that money to work.
A few questions to consider
1) Are you following Grant Cardone’s advice?
2) Who can coach you to finding and setting a secured account?
3) Do you know how to best put your money to work?
4) Do you want to be a millionaire?
5) What is the best path to get there?
At Henderson and Floyd we help you find the “secure” account that allows you to build your reserve outside of taxes. Then we show you how to access the money yet allow it to continue tax favored and growing at guaranteed rates. You restock this account and are ready for the next opportunity.
Will you become a millionaire? It’s easier if you follow proven paths!