4.8 • 4K Ratings
🗓️ 30 April 2025
⏱️ 53 minutes
🧾️ Download transcript
In Episode 255 of the Cardone Zone, Grant Cardone dives deep into one of the most important financial disciplines you can master: living on just 20% of your income.
Grant breaks down the critical steps required to move beyond just being rich and instead reach true wealth. Learn the difference between rich and wealthy, why most people never escape financial insecurity, and how mastering your spending and investing habits is the key to lasting financial freedom.
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0:00.0 | Hey, welcome to the Cardone Zone, my newest podcast where every week I'll bring to you a new celebrity, |
0:06.7 | artists, athletes, some of the top people in their field, CEOs from around the world, running the world to give you their insights, their knowledge, and their breakthroughs. |
0:15.6 | Look, these people came from nothing just like I did. So get ready with Uncle G. You're in for the ride of your life where we're |
0:21.7 | going to 10x everything you thinks, the way you work, the way you act, and the way you roll every single |
0:27.5 | day. Make sure you subscribe and comment. Love to see what you're talking about. Get ready for today's |
0:32.8 | show. You have to learn how to live off 20% of your gross income without changing your standard of living |
0:42.0 | until the 20% becomes more money. Never cheat on your money the way most people do. I remember a guy |
0:49.3 | drove up to my office in a Lamborghini because he wanted to impress everybody and himself and I guess he was |
0:55.0 | trying to impress me. I loved the guy, but it was stupid. I asked him, what are you doing? What, |
0:59.6 | what do you mean, Grant? I said, what are you doing renting a Lamborghini? How much is that? |
1:02.8 | $1,700. I said, it's stupid. He said to me, it's just $1,700, but to me it was a big deal. He's not disciplined with money. And then calls it just 1,700. It's like knowing a friend is cheating on their spouse. I could still love them that they're cheating on their spouse, but I know they're a cheat. You have to be disciplined if you want to create wealth. It's not going to happen by accident. It's as simple as that. You and your money are having a relationship. And just like any relationship, if you cheat on your money, your money will cheat on you. If you ignore your money, your money will ignore you. If you take care of your money, your money will take care of you. As much as some folks want to hate on the wealthy. Oh, you know, their kids have drug problems and their marriage is failing, and they're probably not really happy anyway. |
1:45.6 | Face it, wealthy people figured out the wealth gain. |
1:48.1 | They accumulate a lot of money because they paid attention to their money. |
1:51.2 | It didn't happen by accident. |
1:53.1 | By the way, I know a lot of poor people that have kids that are drug addicts, and I know a |
1:56.7 | lot of poor people who have marriages that are failing. |
1:59.3 | So let's not get confused here. The wealthy people may not have figured out their marriage or how to raise their kids, |
2:04.5 | but that has nothing to do with money. They just didn't take the time to figure out the other |
2:09.0 | relationships. They probably didn't pay attention to the kids or to their marriage. And that's why |
2:13.3 | it failed. Back to the 20%. I didn't change my standard of living, my quality of living until the amount of my |
2:21.9 | 20% changed. I've always paid or stored the 40% right off the top, just like I always put aside |
2:30.2 | 40% for the IRS. I've been audited four times over 45 years and never lost an audit. Why? I set |
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