Grant Cardone: Unconventional Wisdom for Financial Success

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Finance guru Grant Cardone is renowned for his controversial, out-of-the-box thinking, particularly in the realm of money management. While there are no guarantees that Cardone’s insights will make you a billionaire, his unconventional perspectives are certainly worth considering. Here are five of his most surprising pieces of advice about money—though it’s ultimately up to you to decide whether to follow them.

1. Don’t Open Your Own Business

In a bold statement on Instagram, Cardone criticized anyone contemplating starting their own business. He argues that it’s a self-centered move with a high probability of failure.

Why This Matters

Cardone pointed out that there are approximately 32 million small businesses in America, with 64% of them either breaking even or losing money.

Alternative Approach

Instead of launching a new venture, Cardone suggests aspiring entrepreneurs should consider purchasing an established business. This strategy allows them to bypass the hefty startup costs and operational challenges that come with starting from scratch.

2. Aim To Be a Billionaire, Not a Millionaire

Cardone believes that many people set their financial aspirations too low. He describes the goal of becoming a millionaire as “a lazy man’s or woman’s dream,” arguing that a million dollars is insufficient for a comfortable lifestyle.

Rethinking Financial Goals

In one of his viral TikToks, Cardone criticized budgeting tips from popular books like “The Millionaire Next Door.” Instead of focusing on frugality, he encourages individuals to seek ways to increase their income, enabling them to afford luxuries like new cars and gourmet coffee.

3. Don’t Buy a Home

While conventional wisdom suggests that homeownership is a crucial financial milestone, Cardone has a different viewpoint. He argues that owning a home is “a terrible investment.”

The Case Against Homeownership

Cardone claims that homeownership does not generate cash flow or provide significant tax benefits. Even after paying off a mortgage, homeowners still face ongoing expenses like property taxes, insurance, and maintenance.

A Smarter Investment

Instead of buying a home, Cardone recommends investing in rental properties while renting a place to live. He argues that rental properties can yield substantial income—up to 12% annually—while also being less burdensome than homeownership.

4. Don’t Waste Your Time — or Your Money — on a College Degree

Traditionally, a college degree has been viewed as a pathway to financial success. However, Cardone contends that the return on investment for a degree is often poor.

Reevaluating Education

He emphasizes that attending college requires a significant investment of both time and money.

Alternative Learning Paths

Cardone advocates for self-education through books and online resources. If one chooses to attend college, he advises graduating as quickly as possible while focusing on networking opportunities during that time.

5. Don’t Put Your Cash in the Bank

While saving money in a traditional bank account is often seen as a prudent financial strategy, Cardone disagrees. He argues that keeping cash in savings accounts yields minimal interest and does not contribute to wealth growth.

A Different Approach to Saving

Instead of stashing cash, Cardone encourages individuals to invest in assets that provide substantial returns. He suggests focusing on non-consumables like art, real estate, Bitcoin, and stocks as better investment options.

Conclusion

Ultimately, it’s up to you to determine whether Grant Cardone’s unconventional advice aligns with your financial goals and lifestyle. Not all financial strategies are suitable for everyone, and it’s essential to consider your unique circumstances before making significant financial decisions. Whether you choose to embrace Cardone’s insights or stick with traditional wisdom, the key is to remain informed and proactive in your financial journey.