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The Millionaire Booklet: Becoming Super Rich
I have a reading The Millionaire Booklet, About 25 times by Grant Cardone. why My 10x goal is to build a $250 million dollar empire that will help build the communities I grew up in.
Grant Cardone says millionaires are the new middle class. The middle class is dead. To be financially secure, one must be rich. You need money to accomplish your goals, support your community, and support your causes. Understand that this is not about greed or selfishness.
Becoming super rich
Becoming super rich means reaching your financial potential and helping others. Those museums, hospitals and recreation centers for the youth are not built by the poor. Scholarships and grants are not awarded to people who are in debt and living paycheck to paycheck.
You becoming super rich means setting your family up for financial prosperity. It’s about creating wealth that will leave a legacy. It’s about you uplifting and helping people’s lives. It’s about funding your church or community activities.
Here are the 8 Steps to a Millionaire Booklet:
Phase One: The Millionaire Decision
You must decide to become super rich. Make a commitment now and put your stake in the ground and say, “I’m going to be very, very, very rich one day”. Your decision and your consistent commitment to that decision is the most important thing for your financial future.
People spend more time deciding what to wear, where to eat and who to watch on TV. They are content with middle-class lies. They are comfortable. Comfort is the enemy of progress. remove ideas of, “just enough”, “getting by”, “I’m doing better than them”.
Step Two: Do the millionaire math
First, decide to become super rich. Then you have to do the math. The truth is that most people will make a million dollars in their lifetime. $50k per year if you work steady job for 20 years. You would have earned $1 million dollars. Sell your home and your retirement savings and you could be in touch with a million dollars.
What would it take for you to make a million dollars now? We must do the math. That means you have to find a vehicle that can take you up to a million. Is it your job, real estate, sales, your business? Do you need a promotion? Can you add other income streams to what you are doing now?
Step Three: Increase Income
You will become rich by increasing your income. It is not by saving or investing. You increase the income first. Income is king. Income is your only way to start building wealth. Nothing ever replaces income. It is the road to wealth. Star athletes and entertainers go broke because they fail to generate income after their contracts or movie roles expire.
Now there are many ways you can earn more income. Get a second job, sell everything you don’t use, get a side hustle, start a business with your skills, or find a way to increase your income from your primary source.
Increase your income exponentially. You won’t go from $2500 a month to a million dollars overnight. If you are earning $2500 per month, make your new goal $3000. When you reach that goal, make your next goal $3500 or $4000. keep going The key is to save your growth (step 6).
Step 4: Who owns my money?
Simple… Who owns your money? You need people with money or access to money to increase your income. Find people who can pay you for your services. Your new mantra is, “Who has my money?” Spend less time with people who are broke and more time with people who can increase your income. Find a need, fill it and then get paid for it.
Step Five: Stay Broken
You heard me. Stay broke! Don’t increase your expenses just because your income has increased. Have a monthly cash flow plan. Know how much money you are spending every month. People get raises every year and are still in financial trouble. Cut your expenses and increase your revenue. Don’t take out any more debt unless that debt can increase your cash flow.
Being broke is not being poor. This means maintaining a budget that will help you become super rich.
Step Six: Save it all
Save to invest, don’t save to save. Investing money (from incremental income) is how you get super rich. The reason I was able to save $10k in six months from a new income stream is because I saved all my income increases, tips and bonuses. I stayed broke like in step 5 and I removed all my income.
People never build wealth because they don’t invest enough in deals to pay back. Save all your raises, bonuses, and any extra money that comes in when your income increases. Relax and save the rest. It also gives you time to learn how to find great deals. I label my sacred account “The Big Deal”.
Step Seven: Multiple Streams of Income
First, you increase your income. Then you’ll find ways to add multiple streams. One of the easiest ways to increase your cash flow is to find organic ways. Where can you find other cashflow streams at your current job? Are you missing out on opportunities in your current business? Expand your product line, offer more services, earn more tips or go after your bonus.
Step Eight: Repeat, Reinforce and Hyperfocus
Wash, rinse and repeat. By following these steps you will be on your way to becoming super rich and making a million dollars sooner than you ever thought possible. pick up The Millionaire Booklet, By Grant Cardone.
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