SECRETS To Building Wealth (Multiply Your Income) | Grant Cardone EP 439

0:00Hi, my name is Lewis Howes and welcome to the Daily Motivation Show.

0:12See, I was somebody who told me this in accounting. I went to accounting for, I spent five years getting an accounting degree. I only went there for one reason. I thought they were going to teach me how to account. I'm thinking in the fifth year, dude, it took me five years to get out of this course. I'm thinking this year, they're going to teach me about the money. There's nothing about money. And the only reason I went to that course was figure out how do you make money? How do you keep money? How do you multiply money? the basic money class like if you just do the math a guy's like oh man 80 grand i'm good 80 grand another guy's like 100 grand and i'm good they haven't done the math another person says if i just make them if i just have a million dollars i'm good but you haven't done the math that the the actual math how much money is that really you know 100 grand in los angeles 13 000 goes to the state you have 87 000 okay half that goes to the federal government you're 42 500 i've done the math.

1:02Yeah. Okay. You're at 42, five, you go to whole foods once a week just to take care of your little baby girl and your wife, you're broke. Okay. And we hadn't even, we hadn't handled the healthcare issue. Right. Trump care, Obamacare, you don't care if you don't get your money, right? I mean, that's the facts. Yeah. So most people have never done the math. There is no school on it. There's no class on it. Why is that? Why man? So frustrating. But do you know how many people the middle class support? How many bad, awful groups? Like if the middle class, if 215 million people in America knew the truth and they weren't sitting there saying, but look at my two cars, look at my two little girls and I got dresses for them.

1:40And look, look at people in Ethiopia, they're starving. You went over to Africa, you know, compare their situation to our middle class. Everybody here's rich, including the guy on the street corner that's a panhandle. Absolutely. Right? So why is the freaking killer question? Why have so many people been put under the spell of the middle class? That is who determines who's the president of a country. Right. Look what happened in this last election. Okay? That middle class is starting to get a little edgy right now. They're starting to be like, Dad, I ain't had a good job. I ain't had a freaking pay raise.

2:14You keep talking about unemployment going down. Where's my money? Okay? I don't get anything at the bank. I earn a half a percent at the bank. I watched my mom earn 12 % at the bank. She earned 1 % a month on her money. So the battle cry back then was save your money because you could earn something. Save your money today. What do you get? Nothing. You lose money. You lose money. Rich people do not diversify. The wealthiest people on this planet, when they went into trains, they went all in on their trains. When Henry Ford went into cars, he didn't diversify. He went all in on cars. Elon Musk, he's going all in on solar.

2:47That's how you make hits. But the middle class has taught what? Put a little here, put a little here, put a little here. Put 27 different things out there. Why? Who benefits from 27 investments? Those people. Wall Street. Yeah. Okay. Start early. Start early. Start early. Okay. Get a Keogh account. Get an IRA. Who benefits? Freaking Wall Street. All that money gets pushed over there for 30 years. So if Wall Street offers something to you, it's probably not good for you. So where do I put my money? I put my money, number one, where I have total control. Number two, where it is indestructible that I would tell everybody, like, don't even invest.

3:24Don't even think about a financial investment until you have a hundred grand set aside. And until then you got five, you got 10, you got 22, you got 50, just keep reinvesting that money in yourself, courses, classes, whatever. And until, until you're taking the action necessary, the money will show up at the bank. if you keep investing in you, the vehicle. And then the second thing is where the money goes. Okay, the money's got to go into something indestructible. No technology can wipe it out. And it needs to be very simple for me. Like so simple that I can explain in one sentence. So what's that?

4:01I buy apartment buildings. So the simple thing is I buy a place where somebody has to live. They rent it from me and they're going to rent it from me for years. And that's going to pay down the debt on that place. I don't own homes. I don't buy houses. I buy rental property that people have to live in. They want to live in because they're great properties. They're really nice properties. And it's affordable living. It's not this$5 ,000 a month stuff that you live in. It's affordable,$1 ,100 a month, great neighborhoods, great properties, safe environments. We go in and improve them, fix them up, happy living, take care of people.

4:39We don't abuse anybody. I don't do any government programs, even though there's a lot of money in them. And I know that money will be there for my kids 30 years from now. I mean, that money will be there 100 years from now.

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5:50Again, have an amazing day, and I'll see you tomorrow with another episode of the Daily Motivation Show.