333: YH "Why Your Goals are Too Low"
The Cardone Zone
06/07/18
•42m
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$1 million is not a big enough goal because it doesn't give you enough money to live on if you live 20-25 years. If you just want to make $10k a month, you give the government $4k a month you spend $6k on house, car, insurance and you're out of money.
Here is the plan we made for Jarrod that made him a millionaire:
1. The right target is $10 million: Don't be selfish and say you don't need a lot, you owe it to your children and your parents.
2. No consumption at this level: Don't buy stuff to show off, Jarrod buys suits for less than $500, he leases his car, he rents his home—he's not driving around in a Lambo.
3. Stay broke: Use the 40% rule, you need to make as much income as necessary to store 40% of it.
4. Invest: This is the only thing that multiplies your money
5. Repeat: Earning money and investing it isn't a one-time thing, it needs to be an on-going thing.
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332: G&E "Making Your Ideal Relationship
June 6, 2018
•34m
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334: CZ "Cash is King"
June 8, 2018
•46m
Cash is king. You've heard this expression, time and time again. But the truth is, cash is not king. Cash flow is king.
Inflation makes your money worthless. It takes eight times the money to buy the same product or service today as it did in 1958. That means, what your $1,000 bought back then, it takes $8,269 to buy the same thing, today.
You need to invest your money to have it be worth anything. Cash does no good in the bank.
Here's what to do with your cash:
1. Invest in yourself to increase your income 2. Invest in your business to increase your income 3. Invest in real assets that produce cash flow
Make sure to take your cash and buy things with it that will make you more cash!
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