Latest news with #GrantCardone
Yahoo
2 days ago
- Business
- Yahoo
7 Reason Grant Cardone's Money Advice Might Not Work for You and What To Do Instead
Grant Cardone has built an empire around his aggressive approach to wealth building, real estate investing and entrepreneurship. With millions of followers and a net worth reportedly in the hundreds of millions, his '10X' philosophy has inspired countless people to think bigger about their financial goals. However, his one-size-fits-all approach to money management isn't necessarily right for everyone. For You: Read Next: While Cardone's advice can be motivational and valuable for certain individuals, his strategies often require specific circumstances, risk tolerance levels and financial foundations that many people simply don't have. Here are top reasons why his advice might not work for you and what you can do instead. Cardone's Advice: Grant Cardone famously advocates against traditional saving, arguing that cash sitting in savings accounts is 'losing money' due to inflation and that you should instead invest every dollar into income-producing assets. Why It Might Not Work: Emergency funds are crucial for financial stability. Life throws curveballs ( job loss, medical emergencies, car repairs) and without a financial cushion, you could end up in debt or forced to liquidate investments at the worst possible time. Check Out: Better Alternative: Follow the 50/30/20 rule as a starting point: 50% of income for needs, 30% for wants and 20% for savings and debt repayment. Build an emergency fund covering three to six months of expenses before aggressively investing. Once you have this foundation, you can allocate a higher percentage toward investments while maintaining your safety net. Cardone's Advice: Focus heavily on real estate, particularly multifamily properties and commercial real estate, as the primary vehicle for wealth building. Why It Might Not Work: Commercial real estate typically requires significant down payments, often 20% to 25% or more. For a $1 million property, that's $200,000 to $250,000 upfront, plus closing costs, inspections and reserves. Most people don't have access to this kind of capital. Scaled Alternative: Start with Real Estate Investment Trusts (REITs) to gain real estate exposure without massive capital requirements. Consider house hacking by buying a duplex, living in one unit and renting the other. You can also explore real estate crowdfunding platforms that allow investments starting at $500 to $1,000. Cardone's Advice: Leverage debt to acquire assets and build wealth faster, treating debt as a tool rather than something to avoid. Why It Might Not Work: This advice works for low-interest, tax-deductible debt used to purchase appreciating assets. However, credit card debt averaging 20% or higher interest rates will drain your wealth faster than most investments can build it. Better Approach: Distinguish between 'good debt' and 'bad debt.' Pay off high-interest consumer debt first using strategies like the debt avalanche method (highest interest rates first) or debt snowball method (smallest balances first). Only consider leveraging debt for investments after eliminating high-interest obligations. Cardone's Advice: Take massive risks and bet big on yourself and your investments to achieve extraordinary returns. Why It Might Not Work: Risk tolerance varies based on age, family situation and personal circumstances. A 25-year-old single person can afford to take bigger risks than a 55-year-old supporting a family and nearing retirement. Personalized Alternative: Assess your risk tolerance based on your timeline, dependents and financial goals. Younger investors can allocate more to growth investments, while those closer to retirement should prioritize capital preservation. Use age-based allocation formulas as a starting point, such as holding your age as a percentage in bonds (40 years old = 40% bonds, 60% stocks). Cardone's Advice: Focus on dramatically increasing income rather than managing expenses, often suggesting people should earn six figures or more to implement his strategies effectively. Why It Might Not Work: The median household income in the U.S. is around $80,000, according to the U.S. Census Bureau. Many of Cardone's strategies assume disposable income that simply doesn't exist for average earners after covering basic living expenses. Realistic Scaling: Start with what you have. If you can only invest $100 monthly, begin with low-cost index funds or Exchange-Traded Funds (ETFs). Gradually increase contributions as your income grows. Consider side hustles or skill development to boost income over time, but don't wait until you're earning six figures to start building wealth. Cardone's Advice: Go all-in on real estate and business ventures rather than diversifying across asset classes. Why It Might Not Work: Concentration can lead to higher returns, but it also dramatically increases risk. Real estate markets can crash, businesses can fail and putting all your eggs in one basket can wipe out your wealth overnight. Balanced Alternative: Build a diversified portfolio across asset classes including stocks, bonds, real estate and potentially commodities. The classic 60/40 stock-to-bond allocation has historically provided solid returns with manageable risk. You can adjust this based on your age and risk tolerance. Cardone's Advice: Work obsessively, sacrifice personal time and relationships and maintain an aggressive, never-satisfied mindset toward wealth building. Why It Might Not Work: This approach can lead to burnout, damaged relationships and poor mental health. Sustainable wealth building should enhance your life, not consume it entirely. Healthier Approach: Set realistic financial goals that align with your values and life priorities. Build wealth systematically over time rather than through extreme sacrifice. Consider working with a financial advisor or therapist to develop a healthy relationship with money that supports your overall well-being. Grant Cardone's advice works for some people, particularly those who already have substantial income, high risk tolerance and the psychological makeup to handle extreme pressure. However, most people need a more measured, diversified approach to building wealth. Your path to financial success doesn't have to look like Grant Cardone's and that's perfectly fine. The best financial strategy is one you can actually implement and stick with over time. More From GOBankingRates Warren Buffett: 10 Things Poor People Waste Money On This article originally appeared on 7 Reason Grant Cardone's Money Advice Might Not Work for You and What To Do Instead Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 days ago
- Business
- Yahoo
Grant Cardone Says If You Want To 'Get Out' Of The Middle Class, You Need To Quit Saving Money, Buying Homes, Or Borrowing For College
Entrepreneur and real estate mogul Grant Cardone is sounding off on the financial habits keeping Americans stuck in the middle class. In a recent appearance on 'My View with Lara Trump' on Fox News, Cardone laid out a roadmap to financial freedom that goes against conventional wisdom—and popular personal finance gurus like Dave Miss: Hasbro, MGM, and Skechers trust this AI marketing firm — 'Middle class is mythology,' Cardone said, adding that inflation, high mortgage costs and rising food prices are crushing working families. 'My encouragement to the middle class is get out of it. Once again, move yourself up so there's prosperity and abundance—and not just putting everything on a credit card in life.' Cardone, who was raised by a single mother, said he's been through it and wants people to rethink the old advice. He argued that the reason most people are financially stuck is because they're doing what they were told to do: save money, buy a house, save for retirement and borrow for college. He says those strategies simply don't work anymore. 'The middle class has been left behind because they've been saving money and doing the right things—and it's not working,' Cardone said. Trending: Maximize saving for your retirement and cut down on taxes: . Instead, he said people should start doing what the wealthy do. That includes using tax advantages, making smart investments, and not leaving money sitting in a savings account. 'Actually put money to work,' he said. 'That's why I'm excited about President Trump. I've reduced my tax bill as low as I could, and you should too.' Cardone praised President Donald Trump's policies for giving business owners room to grow. 'If you're an entrepreneur, you need incentives, rewards to take those risks,' he said. He contrasted that with his experience in California, where he says taxes and regulations punished him every time he tried to expand. Cardone also pushed back on the idea that financial struggles are purely individual failings. 'If a mass group of people suffer from the same thing, it's not their fault anymore,' he said. 'It's because they've all been taught the same thing.' He called most Americans financially illiterate 'by design' and said the solution is to reeducate people with strategies that actually build message runs counter to the kind of advice pushed by financial figures like Dave Ramsey, who encourages people to stay out of debt, buy homes, and save for emergencies. Instead, Cardone believes those old strategies are part of the problem—and not the way out. 'We need to re-indoctrinate people to what wealthy people do,' he said. 'Use tax advantages and make good investments.' Read Next: Invest where it hurts — and help millions heal:. Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? APPLE (AAPL): Free Stock Analysis Report TESLA (TSLA): Free Stock Analysis Report This article Grant Cardone Says If You Want To 'Get Out' Of The Middle Class, You Need To Quit Saving Money, Buying Homes, Or Borrowing For College originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Sign in to access your portfolio
Yahoo
3 days ago
- Business
- Yahoo
Grant Cardone Says Nancy Pelosi's $120 Million Net Worth Defies Life And Math — 'She'd Need To Be 33,000 Years Old' On A $179,000 Salary
It's not every day someone casually accuses a former Speaker of the House of defying both math and mortality — but then again, Grant Cardone isn't known for pulling punches. In an interview last year with DJ Vlad, Cardone took aim at Nancy Pelosi's reported wealth, questioning how a public servant making $179,000 a year could be worth $120 million. "You can't do the math on it," he said flatly. "She would have to be 33,000 years old or something." After revising, he settled on a more "reasonable" estimate: "She would have to be on Earth 3,300 years," he said, in order to turn her salary into the fortune she's reported to have. Don't Miss: Hasbro, MGM, and Skechers trust this AI marketing firm — Here's what Americans think you need to be considered wealthy. Cardone didn't stop there. Factoring in taxes and cost of living, he added, "She's probably paying 50% in taxes... So she's making $89,000 a year, bro. She's worth $120 million minimum. She would have to be 1,500 years old if she never spent one penny." The math may have been delivered with a smirk, but the underlying message wasn't a joke: "If you make $179,000 a year, you will never be a millionaire — much less worth $120 million." He went on to call out both parties for profiting off insider knowledge, saying, "There's a whole bunch of them... Republicans and Democrats." His proposed solution? Cut Congressional salaries to the median American wage and ban trading altogether: "If you're in Congress or Senate... you cannot insider trade. Period. In fact, you cannot trade at all." Trending: Maximize saving for your retirement and cut down on taxes: . At the time of the interview, Pelosi's net worth was estimated around $120 million — but today, it's significantly higher. As of early 2025, Pelosi's net worth is estimated to be between $246.8 million and $259 million, according to Quiver Quantitative. That's more than double what Cardone was reacting to just a year ago. Much of the wealth is tied to savvy and controversial investments in tech stocks and real estate, largely managed by her husband, Paul Pelosi. While there's no direct evidence of insider trading, public skepticism has remained high — and the numbers haven't exactly helped. Cardone may have been using hyperbole when he joked that Pelosi would need to be 3,300 years old to earn her wealth. But if the trajectory of her portfolio is any indication, she's aging just fine — and so is her net worth. Read Next:Many are using retirement income calculators to check if they're on pace — Image: Shutterstock Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? APPLE (AAPL): Free Stock Analysis Report TESLA (TSLA): Free Stock Analysis Report This article Grant Cardone Says Nancy Pelosi's $120 Million Net Worth Defies Life And Math — 'She'd Need To Be 33,000 Years Old' On A $179,000 Salary originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved.
Crypto Insight
26-05-2025
- Business
- Crypto Insight
Cardone Capital launches 10X Miami River Bitcoin Fund
Cardone Capital, a real estate investment firm with over $5 billion in assets under management, launched the 10X Miami River Bitcoin Fund, a dual-asset fund consisting of a 346-unit multifamily commercial property located on the Miami River in Miami, Florida, and $15 million of Bitcoin. In an interview with Cointelegraph, Cardone Capital founder and CEO Grant Cardone said the Miami River Bitcoin Fund, which is the firm's fourth blended investment vehicle mixing BTC and commercial multifamily real estate, will convert a portion of its monthly cash flows to BTC. Cardone told Cointelegraph the impetus to start the fund followed a suggestion from his brother. The CEO said: 'My brother said to me, you should look at if you would have converted all your cash flow from real estate to Bitcoin and what that would have done over the last 12 years. Well, it would have taken $160 million and turned it into around $3 billion.' 'So, when I saw that, I said I am going to create a fund where we buy real estate, add bitcoin, and then use the cash flow from the real estate purchase to buy more Bitcoin,' the CEO continued. The CEO also told Cointelegraph that the long-term goal of Cardone Capital is to accumulate $1 billion of real estate and $200 million in BTC, which will be held as a treasury asset, across the hybrid funds. The funds' unique approach of blending income-producing hard assets and Bitcoin as a store of value could disrupt the market for real estate investment trusts (REITs), market-traded funds giving investors access to baskets of income-producing properties, and other traditional commercial real estate investment vehicles. Onboarding users to Bitcoin by abstracting away the technical barrier to entry The CEO added that he wants to onboard investors and tenants alike to Bitcoin and expose them to the digital asset, without them necessarily having to acquire the technical knowledge to understand how Bitcoin works. A rewards program, paid in Satoshis, to long-term tenants, who pay on time and exhibit good renter behavior, is one idea the real estate investment firm is mulling, Cardone told Cointelegraph. One of the goals of the hybrid real estate BTC funds is to drive the adoption of Bitcoin and provide investors, who would otherwise avoid Bitcoin due to having to overcome the technical barrier to entry, with exposure to the digital asset, the CEO said. 'We are onboarding people into a real estate vehicle that they understand and buying Bitcoin for them,' the CEO added. Cardone also told Cointelegraph that he is working with other financial firms to create a hybrid Bitcoin mortgage product giving clients the ability to borrow against their combined Bitcoin holdings and equity held in a real estate investment. Source:
Yahoo
20-05-2025
- Business
- Yahoo
Grant Cardone Says To Skip This Type of Real Estate Investment If You Want To Make $1 Million
Looking for your next real estate investment? Businessman and real estate investor Grant Cardone says to skip the single-family home and invest in a multi-family property instead. Learn More: Find Out: 'The real problem is that Americans are buying single-family homes rather than the assets that the big guys are buying,' Cardone said in an interview with journalist Christopher Cuomo. His recommendation? 'Buy the whole building and rent it out to other people.' Here's why Cardone recommends buying multi-unit properties if you want to make $1 million rather than single-family homes. 'I don't consider a single-family house an investment,' Cardone said in an interview on Fox Business' 'Making Money with Charles Payne.' While some investors appreciate the simplicity of owning single-family rentals, like lower tenant turnover and potentially lower entry costs, Cardone argued these benefits don't stack up when your goal is to scale quickly and build serious wealth. According to Cardone, multi-family real estate is straightforward to invest in, easy to leverage, offers protection against inflation and generates consistent cash flow. Single-family homes lack these advantages. They typically don't appreciate at the same pace as apartment complexes. Plus, with more units, the risk of vacancy is spread out. This gives investors more predictable cash flow. For You: What you need to look for, according to Cardone, is a building with 32 units where they're underrated by $400 per month or a building with 64 units where they're underrated by $200 per month. For example, if you find a 64-unit property renting at $1,200 per month when the market supports $1,400, that's $12,800 in potential additional monthly income once rents are adjusted. This adds up to over $150,000 in extra revenue per year. 'That'll make you a million dollars every time you do it,' he said. While it may take time to make a million dollars on a single deal, the key is scalability. If you can do it once, you can do it again to build wealth over time, according to Cardone. He recommended focusing on solid deals where you can force appreciation by raising rents to market levels. When you stack enough of those wins, the path to seven figures becomes a lot clearer. More From GOBankingRates Surprising Items People Are Stocking Up On Before Tariff Pains Hit: Is It Smart? The Most Expensive Disney Merchandise Ever Sold -- and Who's Buying It 4 Affordable Car Brands You Won't Regret Buying in 2025 Sources TikTok, Grant Cardone, 'People Need To Stop Buying Single-Family Homes.' YouTube, Grant Cardone, 'Why A House is NOT an Investment.' TikTok, Grant Cardone, 'You Are Not Going To Find 10's If You Are Looking For 3's.' This article originally appeared on Grant Cardone Says To Skip This Type of Real Estate Investment If You Want To Make $1 Million
