3 days ago
Billionaire Grant Cardone Warns ‘Simply Working Hard and Saving is No Longer a Successful Strategy' to Getting Rich
Grant Cardone, a self-made real estate mogul and entrepreneur, asserts that the path to financial success begins not with numbers or budgets, but with mindset. He argues that many Americans work diligently, purchase homes, and consistently save, yet still fall short of achieving financial independence.
According to Cardone, the key distinction between the merely hardworking and the truly wealthy is not just relentless effort, but the presence of a comprehensive plan specifically designed to accumulate wealth. In a recent post on X, Cardone said, 'The first thing to fix about finance is your mind. If you want proof of this just look at most of America. They work hard, buy a house, and save more than they spend yet still never attain financial freedom.' Cardone continued, 'The second thing to do is to have a wealth plan designed to create wealth. 83% of all wealthy people had a plan in place in order to create their wealth.'
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Cardone emphasizes that a significant majority of wealthy individuals — over 80% — did not leave financial success to chance but followed a precise plan during their journey. This insight is supported by studies indicating that about 83-84% of high-net-worth individuals intentionally chart long-term financial plans, contrasted with just over half of the general population. This highlights the important role structured planning plays in differentiating wealth accumulation from simple financial stability.
'Simply working hard and saving is no longer a successful strategy as interest rates on savings will not keep up with the destruction of currency and taxes. Those who attain real wealth have a plan for their freedom whereby they earn to invest and then later borrow against appreciated assets to reduce taxes,' said Cardone, emphasizing the importance of investing in productive assets and reducing ones tax liability. Cardone continued, 'They aren't saving for the sake of saving, they are saving to create asset wealth and then one day passive streams of income that outpace inflation.'
Why Cardone's Perspective Carries Weight
Grant Cardone brings considerable authority to the topic. With a background spanning from modest beginnings to founding multi-million dollar enterprises, Cardone's rise embodies the principles he espouses. He operates Cardone Capital, manages a multi-billion-dollar property portfolio, and is an internationally recognized sales trainer and best-selling author. His teachings have appeared in major financial media outlets and corporate boardrooms, shaping the strategies of both Fortune 500 firms and everyday investors.
Central to Cardone's approach is the belief that financial growth requires mindset shifts away from conventional approaches. He is known for promoting aggressive growth, calculated risk-taking, and the use of leverage to build long-term wealth. His critique of simple saving is rooted in economic realities: with inflation outpacing interest rates on traditional savings accounts, money held idle risks losing value over time. This view resonates amid modern market conditions, where rising living costs and shifting interest rates frequently erode purchasing power.
The Wealth Plan in Practice
Cardone notes that true wealth is built not merely by saving more than spending, but by converting earnings into investments and building diverse asset bases — especially those offering passive income. He advocates for a systematic approach where savings serve as building blocks for acquiring appreciating assets, such as real estate or business equity. Rather than hoarding cash, he suggests that disciplined investments and strategically borrowing against growing assets can reduce tax liabilities and create income flows that keep pace with inflation.
This guidance aligns with prevailing financial advice for those seeking independence: develop passive income streams, invest intelligently, and adjust strategies based on economic shifts. For many Americans, Cardone's message may challenge ingrained habits, but it reflects a pragmatic response to evolving market realities.
Relevance in Today's Markets
Cardone's counsel addresses the perennial challenges faced by savers and investors: how to navigate inflation, wealth inequality, and the unpredictability of markets. As savings account interest rates often lag behind inflation, and the cost of living continues to climb, the call to focus on asset-building and strategic planning is particularly salient.
Ultimately, Cardone's approach centers on the belief that financial freedom is not accidental, but a result of conscious mindset shifts and disciplined, forward-looking planning — a principle that has defined both his career trajectory and his message to millions.
On the date of publication, Caleb Naysmith did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on
