The Cardone Zone

Saving For Retirement...Your mom told you to save for a rainy day and that a penny saved is a penny earned. If you've never been taught to make money, being taught to save money is kind of stupid. You've been taught that you must start saving early, but what are you even saving for? Should you send your money to people you don't know to diversify? People that actually make it put a big bet on one thing. Finances are about playing offense. Who's got your money? You need to make so much money that you can't spend it all. When I make money I get rid of it as fast as I can because money gets bored. Don't stick your money in an IRA, concentrate on investing in yourself so that you can begin to increase your income.

Never get advice from a millionaire. Don't get advice on what the view is like from someone half way up the tree, they can only tell you what they think the view is going to be. That's why you don't want to get advice from someone not even half way there. The problem with the Millionaire Next Door:

1) Think is too small—There's not enough zeros to last you any length of time 2) Conservation mode—Spend all energy trying to save the million. 3) Math doesn't work—$33,000 a year is no money. You can't just quit after making $1 million

When you have a million dollars, you're scared. Don't be the millionaire next door who is conserving the little pile they have. To make your money last longer than your clock, you need much more than $1 million, so never take financial advice from a mere millionaire!

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I come here every Friday so you can get your money right. The average American makes $58,000 a year and it costs more to live than that. How do you get out of that trap? 50% of American families have zero saved for retirement. It's not because half the people are stupid, it's the things we are all taught about money that is the problem. If you use the wrong battle strategy for 30 years, you will end up broke. Here are 3 tips today:

1. Your plan doesn't work—You have to challenge your assumptions. Your mommy and daddy's plan was all about saving. This is the wrong battle plan. 2. Secure the job you have—Quit hating on your job and add income to your job. 3. You need income—This is the plan you need, you need to play offense, not defense.

The 'Rule of 72' is a simplified way to determine how long an investment will take to double, given a fixed annual rate of interest. By dividing 72 by the annual rate of return, you can know how many years it will take for your investment to double. The rule of 72 with compound interest was great back when interest rates were higher. If you gave 100K to Bank of America today, it would take 72 years for your money to double. In Japan, it costs you money to keep money in the bank. You need a new vehicle that allows you to:

1. Protect your capital 2. Give you at least a 6-10% return 3. Gives you the possibility of appreciation in the future 4. Gives you tax advantages

The bank is for people who don't trust in themselves. You need to be doubling your money quicker than what the banks will give you. The house is about protecting money, but it doesn't give a return or a tax advantage.

I'm seeing doubles in 3 years, 4 years, and 5 years investing in multi-family apartment buildings. This is the new compound interest. Don't wait until you are 90 years old for your money to double!

Stocks, franchises, REITs, bonds, IRA's, 401K's—these are all places where people make investments with their dollars. To invest means to expend money with the expectation of achieving a profit or material result by putting it into financial schemes, shares, or property, or by using it to develop a commercial venture. You have to write a check, and the goal is not to break even like so many businesses do.

Money desires attention and money follows attention. You will not get wealthy by mistake. If you want an investment to go up, have control in it. Be next to it, don't ignore it. Or have a partnership with someone who is more invested in it than you are. If you have distance and time between you and your money, you don't have an investment you have a gamble. Unless if you're rich, you should have drips every month that remind you what you're making from your investment.

The truth is, Bank of America will not lend you money to buy stock in Bank of America, because they know it's a bad investment. Go to https://cardonecapital.com/ to learn more about what I consider the best investment you can make today.

Are you tired of living paycheck to paycheck? You can be making $40,000 a year or $270,000 a year—I know people who do both—and live with no money leftover at the end of the month. What can you do, besides increasing your income? Here are two things you can do to cut your expenses:

1. Reduce your tax bill—There are many things you can do to pay less to the IRS. Make all 9 exemptions. You want the government taking less from your paycheck. Don't pay people, especially the IRS, before you need to.

2. Renegotiate student loans—Why would you pay this right now? Be Donald Trump, say that this deal no longer makes sense. If the president can renegotiate deals, you can too.

The bottom line is that rich people do things that poor people don't do. It's not just what you make but what you keep. Search online about budgets, and nobody talks about the IRS or student loans. These are two huge expenses many people have. Cut into these and start keeping more of your money!

The ability to sell is as crucial to your success as food, water, and oxygen are to your life. Learning how to sell, and then close the deal, is what is needed in the real word to ensure you get what you want to in life—both professionally and personally. All parents are in the business of closing sales because selling is more than just products—selling is being able to persuade, convince, and gather support for your ideas and what you want to do in life—whether in business or in the home. Selling is everything in life.

You need to know how to:

• Sell in a bad economy • Overcome call reluctance • Fill your pipeline with new business • Stay positive, despite rejection • Utilize social media and avenues on how to propel your business goals

Freedom is the power to act, speak, think as you want without hindrance or restraint. Freedom and finances are connected. To get freedom you must focus on income above saving or investing. You can't save or invest if you don't get your income right.

Income—Money coming in.

Expense—Money going out.

Cash—Money left over.

What you can raise or lower the most is what you should have your attention on. You can only lower expenses so much. That's why your attention should always be on income. Don't spend your time on the finite number when you should be focused on the infinite number. Quit focusing on the little you have and focus on what is actually available. 4th of July is coming but most people aren't free—you need to have so much income you don't need a budget.

How fast can you blow through $1 million? Faster than you think. That's why you need to 10X your finances and become a multi-millionaire. Do you believe $1,000,000 would set you up for life? Never working again? Never answering to a boss or waking up for work? Some people think the answer is yes, or even think $1,000,000 is going to set them up financially to never worry about money again. The truth is, it's really not that much money. If I gave you $1,000,000 today, you would not be able to retire comfortably. Don't get advice on what the view is like from someone half way up the tree, because they can only tell you what they think the view is going to be. A millionaire with a a couple of million to their name is not financially secure—they have not financially arrived yet!

Saving For Retirement...Your mom told you to save for a rainy day and that a penny saved is a penny earned. If you've never been taught to make money, being taught to save money is kind of stupid. You've been taught that you must start saving early, but what are you even saving for? Should you send your money to people you don't know to diversify? People that actually make it put a big bet on one thing. Finances are about playing offense. Who's got your money? You need to make so much money that you can't spend it all. When I make money I get rid of it as fast as I can because money gets bored. Don't stick your money in an IRA, concentrate on investing in yourself so that you can begin to increase your income.