Don’t get money advice from someone who stays in a Holiday Inn

The bestselling book The Millionaire Next Door will Leave you old and angry.

Yes, I read The Millionaire Next Door, and yes, when I read it I was inspired. Then I spent the next five years trying to save my way to millionaire status.

You know, pinching pennies and if doing any traveling, being sure to stay on a budget at the Holiday Inn.

The problem is once I got to a million dollars I was more scared than happy. For the first time, I realized a million dollars without new income was only going to last me 25 years at $40,000 a year or $3,500 a month.

Then for the next 10 years, I was buying used cars and never bought $5 coffee because I believed I was going to save my way to financial freedom.

This is where The Millionaire Next Door doesn’t work.

I turned into a scared, angry mooch, saving every penny, chasing nickels and losing dollars.

The book’s advice causes people to stay small and believe a million dollars is the target.

Trust me on this, a million dollars should not be your target.

Never ever get your advice from a mere millionaire.

I was modeling my financial life after The Millionaire Next Door rather than people who had indestructible 9 and 10 figure wealth. The Millionaire Next Door basically suggests that if you are frugal you can be a millionaire.

Here’s the truth of the matter:

The Millionaire Next Door think is too small—A million dollars is not that big when you do the math.
It encourages people to look to retire thinking $1 million is some cushion target—it’s no cushion!
Millionaire is the new middle class—the book should be renamed The Middle Class Next Door because that would be more accurate.
Nobody wants to live their life on a budget—comment below, do you REALLY want to stay at the Holiday Inn on your next trip?

Don’t Get Advice on what the view is like from someone half-way there.

The single-digit millionaire has not financially arrived yet, they only think they have. $1,000,000 is fine if you only have one year left to live.

If you have 30 years left, that gives you just over $33,000 a year. That’s about $91 a day, and anyone who has less than $100 a day to live on is seriously broke. You’ve got rent, insurance, food, transportation—it all adds up quickly.

So if you’ve got $1,000,000 dollars and 30 years left to live, you aren’t retiring comfortably, you’ll be constantly worried about your little pile of depreciating paper running out so you are forced to live frugally, pinching pennies.

To make your money last longer than your clock, you need much more than $1,000,000. You need more zeros than minutes. That’s the problem with money— time.

If you think a million is a lot of money it is only because you haven't really done the math.

If you’re in poverty thirty years from now it won’t be because you’ve bought a latte every day, but because you didn’t think big enough and didn't produce enough each day.

I WANT TO HELP YOU REACH A MINIMUM OF $10 MILLION.

I don't want you spending nights at the Holiday Inn if you'd prefer the Ritz.

That's why I'm offering you today a FREE copy of my Millionaire Booklet. I don't want to just take you to 1 million, but getting your first million is the necessary step toward 8-figures and beyond.

Be Great,

GC

Grant Cardone is a New York Times bestselling author, the #1 sales trainer in the world, and an internationally renowned speaker on leadership, real estate investing, entrepreneurship, social media, and finance. His 5 privately held companies have annual revenues exceeding $100 million. Forbes named Mr. Cardone #1 of the "25 Marketing Influencers to Watch in 2017". Grant’s straight-shooting viewpoints on the economy, the middle class, and business have made him a valuable resource for media seeking commentary and insights on real topics that matter. He regularly appears on Fox News, Fox Business, and MSNBC, and writes for Forbes, Success Magazine, Business Insider, CNBC, and Entrepreneur. He urges his followers and clients to make success their duty, responsibility, and obligation. He currently resides in South Florida with his wife and two daughters.