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Would you rather be rich or wealthy?

From Audio: Grant Cardone: How to Get Rich

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station description This is Mo Money Mo Problems, a podcast that features the brightest financial minds... read more
The Premature Millionaire Show - The Show About Side Hustles, Investing, Motivation, And Retirement
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Duration: 06:00
Grant Cardone speaks about how to be wealthy, not rich
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Grant Cardone speaks about how to be wealthy, not rich
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recommitted to my education, but this time I started studying, not things that were in books, but people that it actually created wealth, not people that have made money, but people that had created wealth. This is completely different. I was no longer studying accounting and economics. I was studying wealthy people and only wealthy people. I'm not talking about the doctor that was a neighbor that makes a million dollars a year and he's working 18 hours a day and he hates his job, right? He's working seven days a week. He can't ever spend time with. And I'm talking about the yacht people. I'm talking about the people that are spending as much time as they want on vacation. I'm talking about the car dealer that had uh, 28 car dealerships or 82 car dealerships that has in disposable money. I'm talking about the Walton money. I'm talking about the Waltons last week increased their net worth by $11 billion and they haven't worked for 30 years. That's the kind of wealth. I started studying. I started reading Barons in the Wall Street Journal and I quickly realized something that the wealthy people had financial freedom and no one else did. Okay. Very small percentage of people, Lots of people have money. My uncle had millions of dollars. He was terrified about his money wouldn't spend. It. Acted like a miser buried money in the backyard. I realized my parents had it wrong. The information I have. That was wrong. And this is the number one thing I want you to get out of tonight. The information you have is wrong. The wealthy talk differently than the middle class. I watched my mom and my dad, I started comparing the wealthy people from what my dad did. My dad worked every day every day of the week. If he wasn't working at the office, he was working in the yard, they saved money, They cut their own grass. Okay? We ate all our food. We turn the lights off. We didn't waste anything. And that was uncertainty. It was insecurity and it was fear and it perpetuated uncertainty, insecurity and fear and and all the lessons about money. Money doesn't grow on trees. A penny saved is a penny earned. Eat all your food. People are starving. Okay. Money, money. You don't waste it. Don't play with it all. That creates insecurity and it's incorrect rule number three Get attention. Money follows attention. Money follows attention. Uh yeah. How much attention can you guys get? Okay? Most of you can't get attention because your mom and daddy said don't get too much attention. Don't get too much attention to be seen and not heard fly under the radar because if you get too much attention, they're going to shoot you down. Right? How many heard this before? Founded the radar, man. Stay low man. Don't let anybody see you making moves. Don't make moves, man, don't make moves. And then everybody wonders why can't I get above? Because you don't get attention, strangers have everything you want, everything you want. A stranger has, it will be strangers that will grow your business. It will be strangers that put your kids through schools. It will be strangers that make your dreams a reality strangers have everything you want. But you were talking about to talk to them. Rule number four. Don't make dumb purchases this car right here. This Rolls Royce Wraith with freaking magic, the magic astrological zodiac sign built into the ceiling with little sparkles, dumbest damn thing you could ever buy in your life as a big expensive luxury car. In fact, okay, in my rent today, I want to share with you. One of the things that I did smart in my life was I never bought these exotic cars that everybody seems to go out and buy as soon as they make a little money. What I did was this I waited, I waited and I waited to ever do a dumb thing like this done by one of the dumbest things ever bought in my damn life. Okay, I waited until number one, I didn't have to buy one and number two until it didn't matter. I just got my financial statement in three months, the first three months of this year compared to last year, a double a double. You understand what the double is? A double means I can do stupid now. Okay. Look, once you make enough money to where you can blow $461,000 and it don't matter then go do it. Okay. Until then, until then do not waste your money. I'm sorry this car was only $384,000. I didn't want to exaggerate to you, but I think they added some stuff to this bad boy. So look until then, until then, until then don't waste your money on watches and cars and bring brioni suits. Okay? It's ridiculous. You guys that are buying $1200 shoes stupid. You guys are buying $200,000 cars. Stupid. You guys are spending money on homes. No offense, but you're stupid. You don't need an expensive house. You don't need a country club yet. What you need is paper. You need money baby. You need network. You need passive income. You need flows, baby flows and flows and flows. You don't need a rolls Royce. Remember five moved from spending to investing number five. Move your spending to investing when you burn money, when you spend money, when you use money, when you exchange money, make sure that you're investing money, not spending money, quit spending money on stuff. I'd rather invest $1000 on something that can make me money than waste 100 on something that literally.
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