Top Habits to Building Wealth & Multiplying Your Income | Grant Cardone EP 342

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

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1:13See, I wish somebody had 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, 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.

1:4180 grand. Another guy's like a hundred 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, the actual math. How much money is that really, you know, a hundred grand in Los Angeles, 13 ,000 goes to the state. You have$87 ,000. Okay. Half that goes to the federal government. You're at$42 ,500. I've done the math. Yeah. 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, we hadn't handled the healthcare issue.

2:12Right. Trump care, Obamacare. You don't care if you don't get your money, right? I mean, that's the facts. 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 you 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 and look we look at people in ethiopia they're starving you won't you went over Africa, you know, compare their situation to our middle class.

2:48Everybody here is rich, including the guy on the, on the street corner. That's a panhandle. Absolutely. Right. So why is the, 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. And they're starting to be like, dad, I hadn't had a good job. I hadn't had a freaking pay raise. You keep talking about unemployment going down. Where's my money? Okay. I don't get anything at the bank.

3:20I 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. Right. Save your money today. What do you get? Nothing. You lose money. You lose money. Rich people do not diversify. Okay. The wealthiest people on this planet, when they went into trains, they went all in on the 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, right? That's how you make hits. But the middle class has taught what?

3:52Put a little here, 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 Keo account. Get an IRA. Who benefits? Freaking Wall Street, dude. 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 don't even think about financial investment until you have 100 grand set aside and until then you got five you got 10 you got 22 you got 50.

4:34just 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 it's worth that i buy apartment buildings and 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.

5:10And that's going to pay down the debt on that place. I don't own homes. I don't, I don't buy houses. I buy rental property that people have to live in that want, they want to live in because they're great properties. They're really nice properties and it's affordable living. It's not, it's not this $5 ,000 a month, you know, 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. We don't abuse anybody. I don't do any government programs. Right. Even though there's a lot of money in them.

5:46And 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.

6:01Thank you so much for listening to today's episode of The Daily Motivation, and I hope you have an amazing rest of your day. If you enjoyed this episode, make sure to click the link in the description. That will take you to the full episode of our main podcast on The School of Greatness. And if you are loving the daily motivation, please follow us over on Apple Podcasts and Spotify and leave us a review over on Apple Podcasts right now. And if you want more exclusive content and ad-free listening experience, make sure to subscribe to our Greatness Plus channel on Apple Podcasts right now. And if you want to get even more inspiration from our world-class guests and learn how to improve your life and take it to the next level, then make sure to sign up for the Greatness newsletter and get it delivered right to your inbox over at greatness.com slash newsletter.

6:52Again, have an amazing day, and I'll see you tomorrow with another episode of the Daily Motivation Show.

7:08Thank you.