333: YH "Why Your Goals are Too Low"

The Cardone Zone

Grant Cardone

Careers, Business, 025610

4.8 • 4K Ratings

🗓️ 7 June 2018

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

$1 million is not a big enough goal because it doesn’t give you enough money to live on if you live 20-25 years. If you just want to make $10k a month, you give the government $4k a month you spend $6k on house, car, insurance and you’re out of money.

Here is the plan we made for Jarrod that made him a millionaire:

1. The right target is $10 million: Don’t be selfish and say you don’t need a lot, you owe it to your children and your parents.

2. No consumption at this level: Don’t buy stuff to show off, Jarrod buys suits for less than $500, he leases his car, he rents his home—he's not driving around in a Lambo.

3. Stay broke: Use the 40% rule, you need to make as much income as necessary to store 40% of it.

4. Invest: This is the only thing that multiplies your money

5. Repeat: Earning money and investing it isn't a one-time thing, it needs to be an on-going thing.

Transcript

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0:00.0	It's not about your age.
0:04.0	It's about how young your hustle is.
0:09.0	A stranger way of life is evolving.
0:11.0	The game is profound.
0:12.0	The new.
0:13.0	The evolve.
0:14.0	It's about true freedom, kicking the 9 to 5, and succeeding in the 21st century on a 10X level.
0:21.0	This is...
0:22.0	...Jarrett Glass.
0:25.0	...and Grant Cardone.
0:28.0	Hey Grant Cardone here.
0:29.0	Welcome to Young Hustles, Jared Grant here at the Cardone Zone where every day we bring you something.
0:37.0	Thursdays we bring you?
0:39.0	Yeah, that's nice.
0:40.0	Now is this about somebody's age, millennials?
0:43.0	Because it kind of started out like that.
0:44.0	You want to talk about how this is...
0:45.0	Yes, so the show started because I was 26 years old when I came to work for Grant.
0:50.0	And I was always looking for somebody that could provide me with information that would help me make money faster.
0:56.0	Like ethically, legitimately, and sustainably.
1:00.0	Like I don't know.
1:01.0	The ethics actually came a little later, but...
	...

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