Grant Cardone Says $1 Million Is No Money And Millionaires Are Only 'Halfway Up The Tree' — Urges 'Never Take Advice From A Mere Millionaire'

In a recently resurfaced YouTube video, Grant Cardone discusses the pitfalls of accepting financial advice from millionaires, suggesting that their perspective might be too limited. "Never get your financial advice from a mere millionaire," Cardone advises, likening it to getting a partial view from someone only halfway up a tree. He believes that such advice might not be fully informed or expansive enough to be genuinely beneficial in the long run.

Cardone’s critique extends to conventional financial wisdom, particularly the kind popularized by the book "The Millionaire Next Door" by Thomas Stanley and William Danko. He challenges the book’s endorsement of frugality and cautious financial planning as paths to wealth. According to Cardone, the strategies outlined in the book — such as avoiding daily lattes, driving used cars, and sticking to a strict budget — are too conservative and focus excessively on saving rather than earning.

He uses an analogy to emphasize his point: "Don't get advice on what the view is like from someone halfway up the tree, they can only tell you what they think the view is going to be." This imagery suggests that a millionaire, who is not at the pinnacle of financial achievement, might lack the perspective needed to provide the most effective wealth-building strategies.

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Cardone elaborates on the limitations of a millionaire’s advice by breaking down the mathematics of living off a million dollars. He calculates that a million dollars, spread over 30 years, yields only about $33,000 annually — hardly enough for a comfortable life, let alone a prosperous one. "One million dollars is no money," he concludes dramatically, highlighting the inadequacy of a million-dollar nest egg in today’s economic environment.

In addition to his critiques on YouTube, Cardone has elaborated on his views about financial advice from millionaires on various platforms, including a TikTok video from 2022. In this video, Cardone shares personal anecdotes to further underscore why he believes millionaires often provide inadequate financial guidance.

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He recounts how his millionaire uncle significantly influenced his early financial decisions, a sway he now regrets not challenging earlier. Cardone emphasizes that instead of mirroring millionaires, aspiring wealth builders should observe billionaires, who "throw down." He contrasts the mindset of a typical millionaire with that of a billionaire, illustrating that billionaires prioritize and value time far more than money, which often translates into different spending and investment habits.

Cardone highlights the difference in mentality between millionaires and billionaires with an example of a friend who owns a car dealership. Despite being a billionaire ‘on paper’, this friend exhibits financial behaviors akin to a miser — going to great lengths to open a new Macy’s credit card annually just to save 15% on a purchase. Cardone views such behavior as "insanity," noting that it contrasts with the typical billionaire’s approach to finance, which might involve purchasing jets as a means to value and save time.

This broader perspective from Cardone paints a vivid picture of why he argues against taking financial advice from mere millionaires. According to him, millionaires often operate under a scarcity mindset, overly concerned with saving and preserving rather than boldly investing and expanding their wealth. His advice suggests that true financial wisdom and guidance can more likely be found among those who have reached the echelons of billion-dollar wealth, and who understand the strategic value of significant, timely investments over minute cost-savings.

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