Digital Social Hour - $100K is Not Enough: Elena Cardone's Wealth Secrets | Elena Cardone DSH #913

Episode Date: November 22, 2024

$100K is Not Enough! Elena Cardone shares her incredible journey from actress to multi-millionaire and reveals the wealth-building strategies that transformed her life. 💰 Join Elena as she opens up about her partnership with Grant Cardone, their approach to building generational wealth, and why she believes $100,000 isn't enough in today's economy. Learn how she went from making six figures as an actress to investing millions in real estate and building an empire alongside her husband. Discover Elena's unique perspective on raising successful children in wealth, her transformation from punk rocker to business mogul, and the powerful lessons she learned along the way. She shares intimate details about her family's wealth-building philosophy, including how her 15-year-old daughter is already closing million-dollar deals. Get an inside look at Cardone Capital's investment strategy, why they're avoiding certain states, and how Elena built her own multi-million dollar portfolio. She breaks down the exact steps she took to understand money management and reveals the three crucial elements of building lasting wealth that anyone can apply. From her candid thoughts on marriage and business partnerships to practical advice on investing and building generational wealth, Elena delivers game-changing insights that will transform your approach to money and success. Whether you're just starting your wealth journey or looking to scale your existing investments, this conversation is packed with actionable wisdom you won't want to miss. #10xladiesnetwork #elenacardonewealth #dividendinvesting #10xladies #elenacardone CHAPTERS: 00:00 - Elena Cardone’s 10X Ladies Conference 02:46 - Elena Cardone’s Financial Journey 08:18 - Inheritance Decisions: Elena and Grant Cardone's Kids 11:07 - Elena on Kids and Social Media Usage 12:27 - Handling Hate Comments: Elena's Perspective 16:19 - How Elena Met Grant Cardone 18:54 - Balancing Roles: Boss at Home vs. Work 24:10 - Parental Influence on Children's Friendships 28:03 - Elena’s Parenting Approach and Philosophy 32:54 - Impact of Reputation on Personal Life 34:09 - Learning from Your Parents' Experiences 36:26 - Personal Transformation Journey 38:58 - Importance of Positive Communication in Relationships 45:03 - Defining Financial Sufficiency 48:46 - Investment Strategies in Blue States 58:02 - Investing with Cardone Capital Insights 58:19 - Elena’s Final Thoughts and Reflections APPLY TO BE ON THE PODCAST: https://www.digitalsocialhour.com/application BUSINESS INQUIRIES/SPONSORS: [e-mail] GUEST: Elena Cardone https://www.instagram.com/elenacardone/ https://elenacardone.com/ www.youtube.com/@ElenaCardone LISTEN ON: Apple Podcasts: https://podcasts.apple.com/us/podcast/digital-social-hour/id1676846015 Spotify: https://open.spotify.com/show/5Jn7LXarRlI8Hc0GtTn759 Sean Kelly Instagram: https://www.instagram.com/seanmikekelly/ Learn more about your ad choices. Visit podcastchoices.com/adchoices

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Visit milk.org to learn more. Aren't, aren't you afraid of ruining the kids? And I'm like, no, I worked my way from a very dark place. Why do people think that you have to work your way up to somehow get some life lesson and see how far they can go without having to reprogram and recondition themselves. That's what I had to do. What if I just started off right? How how great and how far could I go? All right guys we got Elena Cardone here today. Super happy to have you. You just had a wonderful event. A thousand women at 10xLadies, right? Yes, I did. It was phenomenal. It was amazing. I've never seen a woman's event of that

capacity, actually. You might be the first. Well, let's claim it now. It is. It's the biggest. It's the largest, most successful. And that was your first one too, right? No, this year was the fourth year I've done it. Oh, fourth. But last year I also had a thousand. Last year Vivek Ramaswamy showed up. No one knew who he was. This was before he did the presidential debate. But I also had Megyn Kelly, Venus Williams. So that was last year. This year I had Lara Trump on and Lauren Bostic from the Skinny Confidential.

So it was an incredible group. We just, we killed it. Natalie Dawson, Sherri Hamilton. It was some power player women up there. Powerful, and what was your goal with bringing all these women together? Well, my goal is, look, women are behind than men, let's face it.

You know, it wasn't until 1984 that we could actually get a loan for our businesses. It wasn't until 1974 that, you know, it wasn't until 1984 that we could actually get a loan for our businesses. It wasn't until 1974 that, you know, we could have a loan on our home. Really? Yes, before that we had to have a man co-sign. Wow, I never knew that. So this is like within my lifetime.

So we're behind, you know, we're behind on our wages, on what we get paid, we're behind on our wages, on what we get paid. We're behind on negotiation skills. We don't know how to ask more for our salaries up front. We don't know how to invest our money. I mean, these are just statistics. This is a generality, but it's also statistically proven. Like I think it's some high statistic.

Don't quote me on this one, but it's like 80% of women's wealth is in cash. So cash is depreciating in value, versus in an investment that's paying you income and cash flow. So we're behind, we need to know how to earn more, store more, invest more. So the point of this this conference was really about bringing women together to support other women to reaching heightened levels of success and understanding financially how to do better for themselves and their families.

That's incredible. So you wanna teach financial independence to more women basically. Yeah, I do. I wanna open up basically, my husband's been my greatest mentor. We've been married for 20 years. We have two children together.

You met Sabrina. I wanted to become a millionaire, a multi-millionaire in my own right. And I was an actress before that. I made six figures. I thought I was, oh, this was more money than my parents had made. My mom made $ 60,000 a year So I remember the first year I made a hundred and twenty thousand. I just thought I was rich But you know, obviously I met grant he was a multi-millionaire when I met him

I just that was more money than I could conceive of I never went to college I'm terrible with numbers grants phenomenal. I'm here in. Grant saw me doing this at the blackjack table. I was counting on my fingers. He said, what are you doing? I was like counting to 21. He was like, don't ever do that again. He was mortified. So I'm just saying that I'm not the genius

when it comes to money. And I said to Grant, you know, I don't wanna feel unintelligent. I never went to college. What do I need to know about money? And he said, people overcomplicate it. to college, what do I need to know about money? And he said, people overcomplicate it. There's only three things you need to know about money. You need to know how to earn it.

Most people know how to do that. You need to know how to store it, not save it in a bank where it depreciates, that's the scam, but how to store it to get enough to invest in an income producing asset that pays a cash flow. That's different than, and he told me, he said you can earn your way to rich,

you can't earn your way to wealth. So I have taken his advice over the years, I've listened to all of his programs, his seminars. Wow, you yourself listen to them? Yes, I listen to all of his material, I've been through everything, all of his books, his program, Cardon University. He gets so irritated with me because I'll be listening to my, his program, which is so odd because when when I'm wearing that hat as a student, like he's Grant, he's not my husband,

and then Grant will walk into the room and try to talk to me and I'm like, stop it. I'm focusing. He was like, but I am that dude, pay attention to me. So it is kind of awkward. Long story short is Welcome to the oil business. Billy Bob Thornton to me more and john ham star in a new Paramount Plus original series the world has already convinced itself that you are evil and I am evil for providing them the one thing they interact with every day. You're right. Here we go from From Taylor Sheridan, executive producer of Yellowstone. Get everybody back. Go! Go!

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I know this might sound silly, and other people might not appreciate this, but I wanted to invest in Cardone Capital with my money. I came into the relationship with a little bit of money. I've also earned my own kind of money, but I wanted to invest in Cardone Capital and Grant just thought I was ridiculous because we're married and I'm in the will

and we share everything. But it was important to me as a woman I wanted to do this. It was a personal goal So I convinced him to allow me to invest in Cardone Capital and I have and now I have Almost four million invested and yeah, yeah, so I'm a multi-millionaire, but that's not all of my assets, but That's just what I have in Cardone Capital. And it's all because he's mentored me. And so I'm passionate about it because I think,

I think it's twofold. I think women should have more confidence. It's a large number. Again, I think it's around 68% of women, if I remember the stats correctly, that say they don't have confidence with money. Wow.

So I wanted to learn more. I'm definitely not the financial expert, nor do I claim to be, but I do know that women can do it with the right information. So that's why I did the 10X ladies. I mean, it's from my husband. I want to bring women into everything that we do, whether it's an opportunity for a female-owned business owner to joint venture with us at Cardone Ventures, or they can come in and get turned on to 10X Health, because we take health very seriously,

or they could come into Cardone Training Technologies and understand the meet and greet, the follow-up, the negotiation skills, the financial planning, the Cardone Capital, how to invest. So I just knew that there were women out there. I was one of them myself. I did not get Grant at first. He rubbed me completely the wrong way. So if there was any other women who weren't going to find him on social media just because he can come off abrasive or strong and just some women wouldn't gravitate. But I thought if I could be the catalyst and a female, someone that that type of woman could

identify with, then they could come into the 10X world via me. That's actually why I did 10X Ladies, because I want more women to have access to Grant Cardone and all of this material and knowledge. I love that. And let's be honest, when we go to a business commerce, it's 95% dudes. That's why I did 10X Ladies. I was at 10X GrowthCon.

This was in the beginning. Now there's more women there. But in the first two or three years of growth con it was sausage a seat. Yeah, I Went to the first couple so you remember from experience you remember I was like this isn't fair women have got to catch up It's but but but not only that in the next 25 years women are going to inherit nine trillion that in the next 25 years, women are going to inherit $9 trillion. So we've got to understand how not to just have cash and spend to zero, but we really have to understand investing and prolonging and protecting. Right. And speaking of inheritance, I know with your kids, you're very public about the way you've

coached them. Are you leaving them all your money to be determined? If they know how to fly the plane will leave them the plane if they don't know how to fly the plane Metaphorically, then I'm not leaving them plane. I'm not I'm not gonna do that to anyone but But so far there they my kids are extraordinary I Mean, they're just incredible assets. They're learning the business by their own origination.

And I think they're extremely responsible and respectful. And so far at the ripe old ages of 12 and now 15, they're on the right path. And these are, at least those were the hardest years for me. That was my stupidest years and if they're if they're this good and stay and continue to grow then absolutely they're just gonna run the empire they're just they're gonna have to take care of me i'm just i just hope i stay in the will yeah imagine where they'll be at your age it's unbelievable so many people

say to me aren't you afraid of ruining your kids with giving them so much? And I'm like, well, first of all, I don't give them. They earn everything. They work, they earn everything. They have investments in Cardone Capital. They can live off of the cash flow. Sabrina was in the office today, made 54 phone calls for Cardone Capital, raised $ 1.5 million just today from hitting the phones. Are you serious? Yes, I am serious. So she is learning the business. She started off at like seven years old, five years old,

going through our offices. One of her first jobs, her and Scarlett. Upper Canada College inspires boys from senior kindergarten to year 12 to find their passions and realize their potential. An IB world school, UCC offers a supportive environment, cutting edge facilities and a best in Canada financial assistance program.

UCC, a place where tradition, excellence and innovation meet. Learn more about all that UCC has to offer at ucc.on.ca. Was to empty all the trash cans of all the staff there and you know they kept their little candy stashes I found out later they were hitting them off on the side but anyway I forgot what I was saying but the kids are are they going to inherit the money? I just think they're gonna be understanding. Oh, I said that I said aren't aren't you afraid of ruining the kids and I'm like no. Why do you because I I worked up I did too. I worked my way from a very dark place.

And so but why do people think that you have to work your way up to somehow get some life lesson? Why can't they just start off with inspiration and education and see how far they can go without having to reprogram and recondition themselves? That's what I had to do. I had to regain self-esteem, re-figure out how to become my own best friend, unlearn all the wrong information I had about money, finance, business. What if I just started off right? How how great and how far could I go? So no, I'm not worried about ruining my kids.

No, I love the way you've done it. And they're both active on social media, but they're using social media in the right way. A lot of kids are using it mindlessly. Yeah, they're just scrolling. but they're using social media in the right way. A lot of kids are using it mindlessly. Yeah. They're just scrolling. Well, thank you. And Sabrina just recently shut off.

She still has her Instagram account, but she gets to a point where she says, nope, this is affecting me. And she shuts it off and won't look at it because she'll find herself 15 now. You know, I don't want to out her, but I think it's my amnosis. She never said this, but I can tell she'll start

introverted and do I look good or this or that and self consciousness and I'm like, are you kidding me? Sabrina, have you looked in the mirror? You're gorgeous and intelligent. You have everything. So she'll on her own will without me having to harp. That's how ethical these kids are. They put their own ethics in. If they feel like they're wasting too much time

and feeling depressed on social media, they shut it off. Yeah, I see all the hate comments she gets. It's actually mind blowing to me. She won't read them anymore. It's weird how people act like that on the internet. With a kid. Yeah, with a 15 year old. It's unbelievable.

What's the point in hating on that? Right, who's just trying to find her way and her voice. And people are cruel. They really are cruel. Yeah. It's a dark world, man. Grant gets a ton of hate too, but he deals with it well. I think he fuels off of it.

I think he loves it, honestly. I really do. I think I get affected the most by it. You do too, yeah. Do I get hate? You get some nasty comments too. No way. I don't even read it.

Gold digger comments. Oh, I love that. I wrote a chapter about that in my book. I saw your video about it too. You did? Yeah. You owned up to it. I did because in the very beginning, this is pre-social media,

when I was getting married to Grant, people in our universe were calling me that. I moved out to California when I was 17 years old and I didn't have some rich guys. As a matter of fact, I was always the breadwinner with the guys I dated, the losers that I dated. breadwinner with the guys I dated, the losers that I dated. And so I hated that comment, because I used to be very adamant about being the strong independent woman, never depend on a man for anything. So I thought it was an extremely degrading,

what was it, not compliment. Insult. Yes, thank you. Insult. So, but, and I almost broke up with him over it because it bugged me. I was like, I don't want this. Like it just it was it created a resentful wedge.

And then I realized that that was silly and just that was one of the biggest lessons I learned. If you can learn how to take something that someone throws at you that has power and you can turn it into your own and hurl it back, it loses all power. Like I own it. I'm like, hell yeah, I am. That's the thing. I am a gold digger. I am. But I dig for it in myself. I don't rest on my laurels. I've been spending hundreds if not 1000s of hours self enhancing and educating. So I can demand enough anybody else and I'm not gonna be happy with you just the way you are and Grant's good with that. And so I'm not stagnant and that stinks stagnant.

I don't want that. Like we always have to level up and you seek it in me and I seek it in you and that's why we reach heightened levels of success together. And when we win, we fall more in love because I think the greatest act of love you can give somebody is to help them achieve their goals and their dreams.

I agree. So when you do that, we fortify. You know how many times in 20 years? I can't speak for him But there's been times where it's been rough and and I have the thought now we have the rule in our house You never mentioned the D word really that's a rule. Oh, it's a million percent rule. We don't say right like That's one rule. We said in the beginning. It just doesn't get mentioned. You wanna resolve everything without the D word mentioned.

Oh yeah, no, no, no, no, you don't mention that word. That's like the most heinous word. But there's been times when I've been thinking, God, do I have other options? Like, should I get out of this? This is hard, you know, blah, blah, blah. And I always come around with, if we did that, the haters that wanna see us divorced,

they would win. And I can't let them win. So I figure out how to get back on the same page with him, refortify, get even stronger, make it through that hurdle, fall more in love, hit bigger wins. And it's just a great strategy because they actually force me back into my right frame of mind of like, oh hell no, no, no, no, no, I'm not gonna give them that.

You know how many people would love to see my family torn apart? They'd love to see us lose all of our money. It's just. And that's the thing with public relationships, right? Cause you both are public figures and a lot of those end up disastrous cause there's just so many haters

just preying on their downfall. You know, that's why you got to protect the empire. Yeah. Yeah. I've seen some videos of you actually denying him the first year he you guys met right? You turned him down for a while. Yeah, for 13 months. Wow. He was already a multimillionaire when he was hitting you up. Yeah. Yeah. So that wasn't enough to win you over. Oh no, that was at that time in my life, that was a major turnoff. Really? Yeah, because I look, like I was saying, I moved to California from New Orleans when I was 17. So I had been in LA as a model and an actress since I was 17. And by the time I met him, I was in my late 20s. So I had been through seeing the rich producer guys throwing their moneys trying to buy girls. I mean, it was everywhere.

So I just thought he was another arrogant guy who thought he could just buy women. So that was a turnoff to me. I was like, I don't care about your money. I'm an independent woman. I have my own house. I got my own hot rods, my own cars. I don't need you for nothing, you know?

So, no. And what did he do that made you change your decision? I'm such a sucker. Okay, you know, like a honey to be. My weakness at that time. It's so predictable. But I was shooting shotguns at the time, and I was a competition shotgun shooter. Yeah, I was at that time, before I even really trained,

I was ranked 10th out of the females in California. Anyway, so I used to shoot all the time on the weekend. This is really shallow to admit, but he had left all these messages, and then finally found out that I used to shoot all the time on the weekend. This is really shallow to admit, but he had left all these messages and then finally found out that I used to shoot guns. It's not cheap. I wasn't like I am now or I could afford stuff, but I made myself afford that because it was such a passion of mine. Anyway, he leaves a message on my phone was like, hey, I rented the whole shooting range if you want to go with me and I was like, oh, he's gonna play that card. I'll take him up on that offer.

So I did and that's what made me call him back was he just found my weakness. And I was gonna take advantage of him, like fully being transparent, like, oh, he wants to play that card. But then now look at me, I'm like fricking wrapped around his finger now. I remember I had my little crises,

probably when the kids were very young toddlers, I was like, I used to have men wrapped around my little finger and now I'm wrapped around yours, and I was crying and he just died laughing anyway, but it's true. So you went from being the alpha in relationships to being his beta. I'm definitely his beta.

I'm definitely like, he is definitely alpha and that is the nature of our relationship. However, I am very strong and very powerful. And, you know, I'm sort of the boss of the house, and everything underneath that roof. And so that's my role. And, and he and he allows me to run that division. And he is the boss of the business. And it doesn't have anything to do with male female. It's just he is a boss, like he knows more than I do. So he's the boss at the business. And I'm his junior there. And when we come home,

you know, I run the household and he respects the decisions that we make with the children and where they're going to go to school and homeschooled or this or that or who we hang out with and where we go and sort of the PR and you they're gonna go to school and homeschooled or this or that or who we hang out with and where we go and sort of the PR and you know, so there's no fighting, cause it's like look, we gotta have it all. We gotta have the business working and the family working.

And we need to stay out of each other's way and each do 100% in our roles to get us to where we wanna be in the life that we wanna have. So we're equal in marriage but not in business and frankly probably not in the home life either. Well it's tough to balance the business with your partners. Yeah. Really tough. It is really tough but he is the boss there

and then he earns that and I'm not entitled to that. I mean it is what it is, I'm not stupid. So you know I had to overcome a lot of mental challenges. I've had to take some turns in my life where he's been the same, I've changed. I've had identity shifts and you know, when I became a mother, there was a shift. When I left my acting career, there was a shift.

And when I had the realization that I found myself four years into a marriage still operating as an independent, powerful woman, never depending on a man, well, it didn't work being married to a man with that mentality. So I had to look at that and say, well, what do I think? And why do I have that? And why is that ingrained in me?

And who is that helping? And I thought it was this imaginary group of women that I was selling out if I depended on my man and it just sounded so disgusting and then I realized I was like I don't know that's just society saying I can't depend on a male why did I marry him I mean I can do it what I can do on my own I've been on my own since I was 17 the point of being with a man for me is to depend on him to help us reach heightened levels of success

where you cap out, the other one helps you hit the higher. And when Grant caps out, I help him hit the higher. That's the only reason. Like, other than, you know, the sexual aspect of it and procreation, there's that aspect of it. So I said, screw it, I depend on a man and he depends on me and there's nothing wrong with that. We depend on each other to do our jobs, our roles,

to reach heightened levels of success. That's the game I'm interested in. How far can this girl from Louisiana who never went to college, how far can she go? And what can I do? And he helps me do, I have come quite far. You know, I haven't done a drug since 2000. Gave birth to two kids naturally with no drugs. No at home

I love that. I'm looking into that for my future kids. Oh, it was the most beautiful experience ever was so incredible like giving birth and Had a doctor there. Of course. I had a hospital close by I was healthy enough to do it But yeah, it was just incredible. The doctor got Sabrina and Scarlet's head out, which is crazy.

And then he gave me my hands and then I pulled this kid out for the rest of the way. And then just having your child there, it's not getting whisked away. That's just with you. That's what I hate in the hospital. They take it away immediately. They take it away.

For what reason? It was just, we got to bond, you know, and I looked at her and I said, I said, hi, welcome back. I'm your mother this lifetime. My name's Elena, this is your father. His name's Grant. I'd love to be able to call you Sabrina Francesca Cardone.

Do you like that name? You know, and I just said, you able to call you Sabrina Francesca Cardone. Do you like that name? You know, and I just said you're welcomed and you're loved and I'm gonna protect and honor you for the rest of this lifetime that I have together and thank you so much for choosing me as your parent and we were emotional, it was just so beautiful and then she just, you know, stayed on my chest and immediately breastfed.

It was just really incredibly spiritual and beautiful with both kids. I love that. Yeah, that sounds like a life changing moment for you. Oh, it was. So I'm proud. I've come a long way with so many different shifts that I've had to take.

Yeah. Being a mother. I've heard you say on another show actually in regards to that, you used to be ashamed of being a mother. I've heard you say on another show actually in regards to that you used to be ashamed of being a mother. I was. I wasn't ashamed of being a mother per se. It was that when I became a mother and wasn't working, I somehow felt my value was less

because I was only a mother and not working. So it wasn't that I was ashamed of being a mother, it was that I was ashamed of just being a mother. Right, like a stay at home mom type thing. Yes, like I felt like I was gonna get judged for that. Yeah. Oh, now I don't have any words, she's just a mom living off the, you know, the husband.

There is a lot of judgment with stay at home moms and dads for sure. It's devised, I believe, to break up the family. So I've just rediscovered my purpose in life, which is to empower women, protect children, and restore the value of the family to society. The value of the family is under attack and I think it's in ruin. There's a lot of families. Yeah, I grew up in a divorced household and that was common where I grew up. Very common. Almost all my friends, same thing. It's very, was it hard on you? Definitely, yeah. I didn't realize it at the time but it definitely played a role in me. Yeah. Not having a father figure as a man. The stats for not having a father in the house

are just horrible. I mean, I'm not gonna quote them because I will mess it up, but the suicides are higher, divorce is higher. Crimes higher. Crimes higher. It's just a really bad statistic without having a father in the house.

Yeah, both parents are integral, I think. Oh, for sure. You know, there's things Grant can do that I can't do. Right. You know. Do you have days for the kids where you kind of split them apart or do you have family days? Not designated, but I did just get in dinners. I should have done this earlier.

I probably failed a little bit as a mother. I wish I would have done this sooner, but I have it in now, so I'm really happy. Where now, and I tried to be the cook and all of that, it didn't work, but I finally hired a chef. So now we have dinner at 630 every night and everyone shows up for dinner. And that happens five nights a week. We try to make it even

when he's not there. Two nights that he has off. And and and that's been instrumental. But we've designed our lives to fit our lifestyle. So like last week I did 10x Ladies, I had another event, I went right into another event that I had. So I've been working for six or seven days in a row, like morning till night. Now I'm here doing Miss World. But they understand that when and then when we have GrowthCon and this and that they understand that we're going to go home, we're going to hit it really hard. We're still going to have familyCon and this and that, they understand that we're gonna go home, we're gonna hit it really hard.

We're still gonna have family time and this and that. But then they understand that we do incredible trips. Like we just did a two week South of France yacht trip. Wow, beautiful. And we do that every year and sometimes twice a year. And it's just us, the family. There's no assistants or staff or film crew or anyone. And it's just us, the family. There's no assistants or staff or film crew or anyone. And it's just us.

And we jet ski and we have breakfast, lunch, and dinner together in museums or whatever we feel like doing. So that's when we really say, look, we're paying the price, we're sacrificing now, but we're also helping people. So that is on our purpose line. But then we also get to have this lifestyle

the way we designed it on our plane, traveling the world. So they understand, they've been incredible with that. Beautiful. Do you think parents should have a say in the friends of their children? Like, do you have a say with your daughters on who they bring into the house? I want them to be able to be self-determined

over their friends. And I am trying to, as a mother, trying to create an environment where they are wise enough to make their own decisions. So I will, we'll ask them questions. Like, where do they fit on like the emotional tone scale? Like if you look at the tone scale, there's someone can be an enthusiasm or cheerfulness

or conservative or covert hostile where they smile, but they're stabbing you in the back or resentful or unexpressed resentful or anger or hatred or apathy or you know and all of those different tones in between have different like levels so we'll just like tone spot where are they at like where's the apparent tone oh they appear to be cheerful but underneath there's they're in grief or sadness or you know and what is their behavior and what is their friends like and what is what is their interest and what did they talk about and do they gossip about others or you know so we watch it in movies where's their tone level you know do they gossip you know so they can start to see and analyze and what did you think about that person and this person and how do they present themselves and what are they and what are their stats and How do they talk about life?

And so they start to look at that. So we'll ask them, how is that friend and how's their relationships with their other friends? And so then they'll be like, they'll figure it out and they'll say, you know what? We found out this person likes to excessively drink or they're promiscuous or they're like dabbling in drugs. And so I'm gonna kind of just keep my distance

and be like friendly, but they don't wanna hang out. And so that's where I'm at. I like that approach. You know what I'm saying? Yeah, cause some parents are a little too strict with it. So they'll kick or expel the kid, but then the kid will rebel and hang out with them like in secret, you know what I mean? So you gotta kind of let the kid, but then the kid will rebel and hang out with them like in secret

You know what I mean? So you got exactly the kid decide I think I do I agree and so I've just talked to Sabrina As a mom and I've just said can I give you some mom advice right now? Or do you want to figure this out because she was upset one time. I wouldn't let her go over to this young guy's house that had a boat and whatever they were going to do. I don't know. But I said no and she was upset and she was you know young like 13 or something. And I just said can I just give you some mom advice and she said sure and I said well look it's just the way society is until it gets not this way, I said, but, you know, in society, boys are are looked at as cool and conqueror if they get girls and they can have a lot of girls and it makes them cooler and more studly and if they say that they're with a girl, even if they're not,

and sometimes they lie about stuff like that to make themselves seem better, girls, your reputation gets degraded, unfortunately. And so I'm trying to protect that in you. And then also, if there's drinking, there's even more of, you know, they could maybe cross a line that you might not be aware of that could happen and put you in a dangerous situation. Right. And you and Grant have both been through that phase with alcohol and drugs.

Million percent. I mean, and I'm open and honest. And I'm like, look, I'm not going to judge you. Like if you need to go through your alcohol and drug phase, like I'm not gonna like it. I'm gonna cut you off from this or this or this access because I don't allow that into my life. I can't have that toxicity. But if you need to go do that, you do that. But I'm telling you, it was extremely painful,

very depressing degrading and If if I could just prevent that from from that happening to you I mean my first experience was you know sexually was drunk and horrible Yeah, I just I and I can never take that back and that's one of my biggest regrets in life Right now that should be a special moment. It should be. And I just told her that. I said, I just would never want that for you because you should be in love. And trust that he's not just telling you

that he's in love with you to do whatever. Right. You know? And you know, girl, they're just a little naive. And you read romance novels, and you expect it to be little naive. And you know, you read romance novels and you expect it to be this way. And Disney movies. Yeah, and then it could turn on a dime.

So I try not to like put too much adult content on her, but it's there anyway. So anyway, she gave, let me have that piece of advice and I said, you do what you want, it's your life. If that's how you want it to be, but my recommendation and how I wish it was for me even This many years later. I'm 50 years old. I still regret that I still wish it was later and with a man I had been in a relationship with for a year or years and it was really special like I I really do

or years and it was really special. Like I really do regret that. No, that's important. Cause a lot of kids that grow up in rich environments, they go down these dark paths cause the parents get so wrapped up. And I was trying to be like this, like liberated. I'm gonna have this experience before my friends. And you know, I was, it was just, ugh.

Yeah, even as a guy too, like, it's kind of like you're looked at a loser if you don't use your virginity early. By a certain time. I know. So, so anyway, I just, she's just an amazing kid. And I'm so blessed that they aren't doing to us what I did and Grant did to our parents.

What was that? Oh, I mean, you know, I was, my mom and dad, they were a lot older than most parents. So they were very naive to what was happening. I grew up in New Orleans. I was going out to the French Quarter when I was 13, 14, 15, 16, 17 is when I left to go try to make something of myself.

I wouldn't go out to the French Quarter until midnight. I wouldn't come home until seven or eight in the morning. At 13, 14 you were doing this? Yes. Wow, you were partying early. Yeah, I was partying early. I remember my dad told me never get in a car with anyone who's drinking, which of course I didn't do.

But he told me, he said, if you ever call me and you need to be picked up, even if you were supposed to be at a friend's house, I would rather you do that and you won't get in trouble. Just call me and I'll pick you up if you ever find yourself in a situation. And I remember I found myself in a situation in the French Quarter where I was 14 15 I mean tripping so

Hard on acid damn it was hard Yeah And I called my dad from a payphone back then and I said you got to come get me right now And he came and got me I didn't get in trouble. I just wow and you had a bad trip. Oh, it was bad Yeah, it was bad. I mean, it's the people you're around. I heard those trips. So you probably had a bad trip? Oh, it was bad, yeah, it was bad. It's the people you're around, I heard, on those trips. So you probably had some bad energy around you. Yeah, I mean, it was New Orleans. I mean, it was like, I don't know if you know who Fellini is,

but his films are like weird. That's New Orleans, especially on acid, on LSD or mushrooms. No, when I did acid, I had to be alone. Oh, it is Looney Tunes in the French Quarter back in the day. And this was Mohawk days, you know, when it was just wild in the streets. You had a Mohawk?

No, my sister did. But I did have like a half a shaved head. Dang, we gotta throw up a photo of this on the screen. I know. Oh, my sister's Mohawk? Mohawk and your hair. You had a shaved hair? Well, yeah, I had the bottom shaved.

Wow. So you couldn't see that it was like really shaved. And then it was kind of like knotted, like kind of dreadlocky on the top. And I dyed the bottom shaved. So you couldn't see that it was really shaved and then it was kind of knotted, kind of dreadlocky on the top. And I dyed it blue black. Okay, so you were pretty rebellious as a kid. Oh yeah, it was like a punk rock. Wow.

You know, black flag, like old school. Damn. Yeah. What a journey, right? Now you're judging beauty pageants. I know, right? Got Miss World tomorrow. Oh my God, I know.

It's insane. Do you ever think it'd come to this? Like this is such a transformation. No, I thought that was sell out to, you know, punk rockism. You know? Yeah. Like this life that I lead now, but that's not my group. That's not my group. I was not happy with that group, you know?

Do you think you were just fitting in like, but that wasn't you? Well, my sister was punk. She still kind of is like, she's very eccentric. She's, we were very different now. So she was punk rock, but I think I was, A, trying to be like her, but also I went through my own just horrendous tragedy at 14 where unfortunately

I witnessed my best friend who was across the street my neighbor burn in a fire. What? Yeah, her and her mother. And so at 14 years old, like having to see that over 95% of her body. Oh my gosh Yeah, it was it wasn't so I collapsed when I saw her damn my father was holding me up. It was so Devastating and I did not know how to cope with that and that's really when I started to just kind of self-medicate and Not care whether I lived or not and and actually did I think I had a death wish to just kind of self-medicate and not care whether I lived or not. And actually did, I think I had a death wish, because I was wild.

I mean, I was so wild. That's deep. It was deep, it was heavy. Yeah, it was really painful. So anyway, that group, that punk rock group felt like a bunch of misfits that had each other in that we didn't fit into society I didn't feel like I fit in I felt like I was killed inside walking around society like this is surreal like how is everything okay

it's not okay but I didn't know how to communicate or express so I just found my group that you know right we were vandals and. Yeah, they call that trauma bonding where you find people. Yeah, like that's what that group was. Yeah, you all had your own traumas. We all had our own traumas. Wow, you still talk to any of them? Not really.

My core best friends, Stephanie, Stacey and Rebecca, yes, we do, we still talk and we're still best friends. And speaking of your friends, Stephanie, Stacey and Rebecca. Yes, we do. We're still talking, we're still best friends. And speaking of your friends, the clip I loved about you the most was you don't talk negatively about Grant, your friends. Ever. Ever. Which is a great thing to do if you're dating someone.

Million percent. That's when I look at the empire as the king and the queen and there's no one above. So I equate it to, in the book, I get a lot of heat for this, but like talking to the chambermaid. I mean, not that my best friends or my business partners are chambermaids, but that's how I look at it. Like I wouldn't talk to anyone who's not in my shoes about the king.

I mean, it's got to be sacred. And there's so many different reasons why because if I go and dump on them about Grant and then there's two sides and then I make up with Grant, then they haven't gotten rid of that. So then when I hang out with them again, they're bringing it back up which restimulates the argument that I had and then when I get back in front of him, I'm refighting about the

whole thing all over again because do you know what I'm saying? So it's a loop. So it's a loser because when I get back in front of him, I'm refighting about the whole thing all over again because do you know what I'm saying? So it's a loop. So it's a loser Because when I make up with Grant and there's his side and my side and there was my responsibility in it as well Yeah, because I'm not a victim no matter what happens, right? I had something to do with it so yeah, it's just worked out really well for us because I So, yeah, it's just worked out really well for us because I value and seek our own counsel. I'll only go talk to somebody who we agree at our church can talk to us about our relationship or show us how to have a successful marriage. I love that.

Yeah, when I have a friend or acquaintance talk to me negatively about others, I usually cut them off. Yeah. Like it's just a toxic. Well they're your friend because a friend is not hearing ill will of the person. So I don't allow people to speak ill will of anyone in my crew.

Yeah, if they do it to one person, I'll maybe hear it out. But if they do it to multiple people, Exactly. Like that's just. That's like the gossipy person you have to be aware of. Yeah, you gotta come out. Now I don't mind a knowledge report. That's different than gossip because people misunderstand and then

they don't want to tell me things. And then that's almost egregious. Like if you know somebody has done a knowledge, something that I will completely not be in agreement with and you don't tell me that's equally as bad as not being a friend. But gossip, don't gossip to me. But knowledge report, I saw so-and-so cheating and stealing your whatever or cheating on their husbands or spouses or they did crack cocaine at the strip club and like these, not that this has happened, I'm giving examples, but I don't, that can happen.

We have thousands of employees at this point. I'm not judgmental to everyone, but my inner circle, like no, like you're not cheating on your husbands or your wives, that's not tolerated. I'm not a fan of that. No, hell no, you're gonna cheat on them, the one you love the most, you're definitely cheating on my business and then our business.

100%. No, you are out. I my business and in our business. 100%. No, you are out. I don't allow drugs or alcohol in my tight circle. Wow. I mean, not alcohol, like just random alcohol. When I say alcohol, I meant excessive alcohol. Getting drunk and blackout. Massive.

I mean, everyone gets drink too much once in a while at a Christmas party. I'm not talking about that. I mean, over and over and over, you know, wild, sloppy, like, okay, maybe there's a problem here. Yeah. Kind of. What about political, like, if they're not Republican

or Trump supporter? It's the values, you know, it's the values. If you're for, if you're not for empowering women, okay? And so if you're for men empowering women, okay? And so if you're for men that can compete in women's sports, that's anti-woman in my case, because we've worked a really hard and long time to be able to be a woman. That boxing thing was nuts.

Insane, right? Couldn't believe it. I know, so if you're not for that, I'm gonna have a problem, no matter how much I like you, it's gonna come in. If you're not for protecting children,'m gonna have a problem. No matter how much I like you, it's gonna come in. If you're not for protecting children, like you think it's okay for a child to be able to have a life altering sex change

without a consult of a parent as a minor, that's not protecting children. That is child abuse to me. So yeah, I'm probably gonna have a problem with that. And if you're like anti-family, that is child abuse to me. So yeah, I'm probably gonna have a problem with that. And if you're like anti-family, that's a problem to me. You know what I mean? Yeah, yeah, in my close circle, I don't think I have anyone on the left, to be honest.

I'll talk to them, but just on a friendship level, it's different. Yeah, it is different. Because it's hard because I have people that I work with and no matter how much I love them and like them, eventually that side or the, you know, it just so happens that's where I'm a believer. Like I'm an anti-vaxxer. I thought that was a scam. I don't like the World Health Organization, the Economic Forum, and I'm not for defund

the police and this and that. So those viewpoints, when one side is that way and this side is this way, it eventually, no matter how much you like the person or how much they like you, you try to get along and you do, you love that person, but eventually there's a little wedge that eventually grows and it becomes this big fault line.

I'm borrowing the phrase from Titus. He said that. Eventually it does create a wedge and drive you apart because you can't be pro-me if you're anti everything I stand for and it does show up in business. It does. Have you always been pretty right leaning? No, before I met Grant, I was a Democrat.

Wow. Yeah. I mean, I was a punk rocker. I was, you know, F the police. I was screw the rich. I mean, I had to make so many 180s with my whole mentality. It's been, you know, at this point, I've been on like a roller coaster ride of who I am and what my thoughts are and having to really

assess well what do I really think you know yeah absolutely I was on your Instagram yesterday there was interesting clip so you said a hundred thousand dollars a year is not enough money to live so what do you think is enough these days well it's not up to me to tell someone what's enough to live on. But, you know, what's enough to live on? It depends on where you want and where you set your standards and what you want. And I just believe in abundance. And so abundance is the only thing that can protect you. So normal is the worst state to be in. It's the most dangerous state because everything

appears to be OK until one day it's not. And so this 100,000 mark is like, I mean, you've got kids. Can you withstand an emergency or a time off work? Or can you afford a vacation if you want or to help your family? Probably not. Or schools or diapers. I mean, an inflation or home or good insurance or healthcare or, you know what I'm saying?

So you have to assess what you're okay with. And then for me, it's about abundance because I want to be able to withstand economic challenges or devastations that are unexpected or unplanned for and then have some plus plus plus plus. So I would say look at what your expenses are for sure. And then the goal should at minimum be have your income producing asset that Grant talked about the only three things you need to know about money have the income producing asset not the earned income because that could that could be in a situation where you're not earning it you lose your job, but the income producing asset covering those expenses plus plus plus plus and that that would seem like okay that could basically Be the baseline right, but I don't want to tell anyone what they should want or not want but yeah

It's also so different depending on where you live what state what city exactly I know grant went viral for saying 400,000 Yeah, that's the thing where that came from. Now, that was taken out of context because he was speaking to a room where they paid him to come out and the people that brought him out was a bunch of guys, again, all guys. And so he was speaking to a room of guys that all made around 400,000 a year.

And so what he was trying to do was talk to them and say, you should not be satisfied with this and you should be trying to reach for more and why and this and that. Oh, that makes sense. Do you know what I'm saying? Yeah, yeah, yeah. So it got taken out of context

and some people wanted to say, oh, he doesn't care about the military or the teachers or this or that. That wasn't the audience he was talking to. And and he loves the military and the teachers and frontline workers and he's actually given them Cardone University for free. Wow. Yes, Cardone vets, you can go to Cardone vets and get all of grants content for free. He. His biggest and only regret in life

is that he never joined the military. Really? That's his regret? Yes. Wow. It's his biggest regret. I'm telling you that because I've heard him say it numerous times over on podcasts and everywhere.

His only regret. Interesting. I mean, if you're talking in business, his second might be that he didn't collaborate and go bigger sooner. But his biggest regret, if you're talking in business, his second might be that he didn't collaborate and go bigger sooner. But his biggest regret, if you were to ask him, and you can make a note when you have him on next,

what's your biggest regret? I bet you'll say you didn't join the military. I'll definitely ask that. Your pinned tweet, so you're no longer going to New York anymore. No. What happened? Well, we owe a fiduciary responsibility to our investors like

Cardone Capital. We have billions of dollars worth of assets under management. We own apartments, income producing assets, like I mentioned numerous times. We have about 14,000 apartments now. That's gonna go to 50 soon and then 100. Wow. And so we can't trust a place like New York that can have government interference, that can come in and not say whether or not I can kick somebody out if they don't pay their rent, or they can seize my property if they don't like

the way I did a bank loan, even if I paid my own bank loan back based on what they did with Trump, President Trump. So we're not going to the blue states until this gets worked out because we have a fiduciary, people trust us with large amounts of money and it's our responsibility to maintain and support and fill and occupy these big beautiful buildings that people have invested in. And they need to make sure that that asset's protected

and cash flowing so they can take care of their families. And these blue states won't do that. So it's more than New York. Oh, it's all the blue states. So it's like 20 states. Yeah, we won't go there. Now, I will tell you this. We won't go there. Now, I will tell you this.

If Grant did put a billion dollars in someplace like a California or something, there is a reason and something he does know and if he did it, I would trust him because I've never, as wild as you think Grant is, and when people ask me what's something that no one knows about Grant, I say this, that as wild and crazy as you might see him

and how he appears on social media, I've never met someone more conservative with money than that man. Wow. Period. What a statement. He doesn't lose money, he's never lost money. Well to have the fund this long, cause it's been like what, 20 years now?

Yeah. That's impressive. Cause that survived the 08 crash? Yeah. Well we didn't, it wasn't open to the public back then. Oh no no, this was recently. That was because of myself and Ryan Secco, his vice president of Cardone Capital now,

that encouraged him to open it up to multiple investors because originally we didn't want the problem into this and that. And then finally I said, this isn't fair that we have this all to ourselves. I want our friends and family. We did our friends and family, his brother, his sister, my mother.

My mother's now a multimillionaire because of this. That's incredible. So if you just put your money in the right places, you can become a multimillionaire. Oh, yeah, easy. I mean, you've really got to understand that we could get into that at some point if you want to turn it into that. But the thing about the income, you know the asset, you know what it's doing. It's real brick and mortar. It's not people you don't know with paper on Wall Street. You can drive the apartments and knock on doors and see people in the parking lots. How do you like living here? I like it. I've lived here for so and so. These are real people,

real buildings and the income is what cash flows. Now, the thing is, is since the depression, homes have gone up and down in value drastically. But if you look at the prices of apartments, it's only gone up. Really? Yes. Oh wow. So think about it.

If we buy a building today, cause rents have always gone up. Rent, wouldn't you, probably in your lifetime. I used to rent, yeah, for five years. It's gone up every year. Exactly. So, okay, so when we buy a building, let's just make an even number, 100 million. We buy a building for 100 million, and three years later, and it's got, and I'm terrible

with math, as you know, but let's say it's got 400 units and each unit goes up $50 a month over three years, maybe even more, $100, 150 times 400. Do you realize now the income and the value of the asset becomes greater than the 100 million because it's now worth more because when you go to sell it, it's an income producing asset because you understand the rent. So we bought it at 100, but now the rents got raised.

You got to take the depreciation. The rents got raised. Now it's more valuable. Now what we can do for our investors. So let's say I have, it's a hundred million dollar building. I put in a hundred thousand. That's where I started years ago. I put in a hundred thousand into this.

Now in three to five years, let's say we go to refinance when the interest rates are lower, we go refinance the hundred million now we put we we put a hundred and fifty million dollar loan because it's worth 200 at this time I'm making up these numbers but to give you the concept right so when we go refinance it which now the renters are gonna pay all of that I'm not anything, but they give us the hundred and fifty million So now what happens what happens in the three years? I've been paid dividends every single month with my hundred thousand

So now I've already gotten let's say twenty thousand back which now only have eighty thousand now. I refinanced I I only have 80,000. Now I refinanced. I refinanced, now they give me my original 100,000 back plus what I've had and all the dividends. How much money do I have in it now? You said four million, right? Well, no, that's in all my investments. I'm just taking in this scenario.

I had 100,000 that I put in, we refinanced, I got 20,000 already back, so now I had 80 still in because they gave me 20 back. Now they refinanced, I get another hundred. So now I got all my money back, plus what I've already been playing. How much do I have in the building? I have a hundred thousand dollars worth,

but I have zero invested because they've given it back. But I still have my share. But guess what? Because it was refinanced, it's not taxed. So now imagine I don't have to pay money on that $100,000. So now the $100,000 is even worth more because when you earn income, they tax it

and it's worth less. So now I protected my, I got my $100,000 back and now I go redump it into another asset that's gonna pay me and that's how I become a multi-millionaire. That's incredible. And I got my hundred thousand back I still have my my my shares in it but I have no money in it and I've done that with multiple and that's what our investors do. Now I'm not saying we refinance every one, but we have great returns. And again, for legal reasons,

I can't make these promises and I'm not promising anything and yada, yada, yada, and any investment can fail. And do you know what I'm saying? But our track record hasn't done that. Our track record is every single investor has been paid a dividend and every single investor keeps investing because because our deals are so good. They're institutional grade quality. So no losing years so far?

Not a one. Even with this recent like inflation and all the interest rates going up a lot? No. That's impressive. No. Because Grant puts good debt on. And lately, because of that was in the past, but right now we're buying all of the assets in cash. So we don't care what the interest rates are doing. We're stealing right now. Our investors are interested in the opportunity

of the century, which happens to be right now. So we're buying everything in cash right now. Our investors are interested in the opportunity of the century, which happens to be right now. So we're buying everything in cash right now. Right. And then discounts right now. Massive. And so then we can go put some refinancing on very soon. So, you know, but even during COVID, the only time we ever paused dividends was during COVID. And we called an investor call, we got on a Zoom with them right away. And we said, we're gonna pause the dividends because we don't know where we're going.

We don't know if there's gonna be a mass exodus on the rentals, we don't know. We need to have this cushion in case we need to handle whatever, because we were scared. Everyone was. And so the investor said, no problem were scared. Yeah, everyone was. And so the investors said, no problem, we put a pause on it. We actually went to our tenants who love our buildings, because they have movie theaters

and gyms and they're secure and safe and they're beautiful. So we gave the tenants an opportunity to re-opt for another year, and most of them did. So we only put a pause for like two or three months and then retro paid them what we owed them. And so no one's ever missed, we've never missed a payment. I love it. Yeah, we'll link the fund in the description below. Yeah, Cardone Capital, they can go to cardonecapital.com

and look at all of our assets. And then I think there's a link to, you can be an accredited or non accredited investor you can just Call the office or sign up online awesome anything else you want to promote or close off with here Any events coming up I we have a 10x wealth con coming up 10x wealth con calm That's what I want to promote. You know, I'm just really behind the 10x movement, behind Grant, behind our

organization. I'm going to start taking the lead more on the Grant Cardone Foundation because we want to get this information into all the underserved kids that don't have this environment to learn from, and we want to give them an opportunity to have every shot of being an entrepreneur and the skills that they need. So I'm gonna start, I am more, but even more so, dig my heels into the Grant Cardone Foundation to help the kids.

Yeah, but follow Grant Cardone, follow me, but follow Grant Cardone follow me but follow Grant Cardone because he really is at the forefront of Really? Making a difference in an impact globally. I love it. We'll link everything below. Thank you so much Thank you. Thank you Sean. Thanks for watching guys as always. See you next time