The Cardone Zone

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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Grant Cardone talks with Gary Vaynerchuk in today's Power Players. Gary has built businesses his whole life. He grew his family's wine business from $3 million to $60 million and started VaynerMedia, a social-media focused digital shop that helps Fortune 500 brands tell their stories and drive their business results. Gary has written 3 NY Times Best Sellers and does the #askgaryvee show along with much, much more.

In today's episode Gary talks about his upbringing coming to the States from Belarus and how entrepreneurship is in his DNA. Is entrepreneurship something in our DNA or is it something that must be trained? Gary hated college, but was able to master Madden 94 along the way. He worked so hard in his 20's that his one regret was that he didn't spend more time with his friends. He tells Grant the best way to build wealth is to think long-term, not short-term. Gary also sincerely believes he works harder than anybody, and his goal is to do just that.

Should you buy a house? What would you do if I told you a house is a terrible investment? Buying a house makes you lose mobility and during the last 100 years, adjusted for inflation, the average home has gone up 1%. If it doesn't make you money don't buy it. The U.S. Census Bureau came out with a new report showing the fastest growing cities in America with cities in the south—specifically Texas and Florida—growing at the fastest rate. You need to be in a position to be able to move where the money is.

1)Houses are a bad investment 2)Buy things that make you money 3)A house is a liability 4)You need to have the ability to move quickly to follow opportunity

I talk in black and white terms a lot, so keep in mind there are always exceptions to rules—but don't go and buy a home!

When is the next recession going to happen? A Recession is defined as a period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two successive quarters. By the time the media calls it a recession it's already too late—it will be after the fact and you have already been affected. To be honest, I'm looking forward to the next recession because I'm prepared for it. You want to expand in a contraction. To do so you must learn how to make more money and that requires either specific high paying skills or an entrepreneurial approach to wages. Contractions are not something to be scared of but rather opportunities for those properly prepared for them.

1) Don't wait for it to get here operate like it is here now. Out work everyone now as though the contraction is fully here. 2) Stop spending except on those things that can increase income. Do not spend to consume; spend only to increase income. 3) Accumulate cash. This way you can steal when the market goes down. 4) Learn 'how' think rather than 'why' think and act like an entrepreneur. That means sales, marketing, negotiating, follow up, and branding.

Don't look for an industry, look for the opportunity. Opportunity is a set of circumstances that makes it possible to do something. The middle class looks for jobs to solve their problems. You want to have problems. People at MIT and Harvard don't even know what opportunity means, they are looking for a job.

Here are 4 tips today to find your opportunity:

1. Look for opportunity: before you can see opportunity you have to look.

2. Be willing to read and research—you won't find opportunity without knowledge.

3. You have to go for it: you have to leave where you are comfortable.

4. Make contacts: everything you want, somebody else has it.

How to Find Your Dream Job—It's been said that having a job means just over broke. You have the wrong job then. You can work for someone else and get rich. You don't have to own the business to get rich. If you are broke, it's not a dream job. A dream job is not what you want to do. A dream job will pay you enough money to make money on this planet. You don't need to love it, you need money. Don't tell me how much you love your job; tell me how much paper you get. You need to get in the right vehicle. The right vehicle has 2 things for a dream job: 1) Margin—The 99 cent store will never pay enough because they have no margin. 2) Volume—Selling planes may have big margin but there is no volume in that. The right vehicle will also have the right driver, someone willing to accelerate and go. Don't move to an industry that is dying. The right vehicle will have horsepower and not just give you the job you want, but the life you want.