Epic Real Estate Investing - Why a Billionaire Will Never Retire (Grant Cardone's advice) | 1240

Episode Date: October 18, 2022

We're all about investing in real estate here to retire early, and enjoy life while we're young enough to do it. According to Google, Grant Cardone is worth $600,000,000 with billions of dollars of real estate under management. He educates his viewers on achieving and preserving wealth, happiness, and success. Very recently, Grant said he'll never retire... and gave 4 good reasons as to why. Listen to this episode and find out if his reasons are good enough for you to never retire and work forever! BUT BEFORE THAT, Matt talks about the importance of being correctly positioned in the real estate business. Are you ready? Let’s go! Learn more about your ad choices. Visit megaphone.fm/adchoices

This is Terio Media. You ever get a new credit card in the mail and instantly think about all the things that you can now afford? Well, you ever put it to use and you reached the limit before you know it and the store clerk says, sorry, sir, your card has been declined. And you're like, oh, damn, didn't realize I spent that much. Welcome to the all-new, epic real estate investing show. The longest running real estate investing podcast on the interwebs, your source for housing market update.

creative investing strategies, and everything else you need to retire early. Some audio may be pulled from our weekly videos and may require visual support. To get the full premium experience, check out Epic Real Estate's YouTube channel, EpicR-E-I.TV. If you want to make money in real estate, sit tight and stay tuned. If you want to go far, share this with a friend. If you want to go fast, go to rei-Ase.com. Here's Matt. And maybe now you're in a little bit of a bind, or maybe not, but there will be consequences

if you miss those payments, right? You see, although the credit card company cut you off, it did save you from digging a deeper hole for yourself. Well, apparently, when you take office, the president gets a new credit card, and it burns a hole in their pocket the same way it does for most people. But there are some differences. You see, there doesn't seem to be a limit. There's no creditors to decline in transaction.

And evidently, there's no limit to the hole that you can dig either. And with regard to the consequences for missed payments, well, no worries. Someone else will take care of it. And they will. Those payments are passed on to someone that didn't even do any of the spending. And these days, that person, they're hardly getting any benefit from the spending either. But they will be responsible for those payments. And I'm talking about the American people, that's who.

And if you live in America, I'm talking about you. And watch this. The U.S. national credit card just passed $31 trillion for the very first time in history, happened last week. And payment is due. And here's how you are to make their payments. You see, you're paying 48% more for gas, 23% more in airfare, 20% more for beef, 16% more for furniture, 5% more for insurance premiums, almost 11% more for food, 8% more for electricity. You know, I just went through the McDonald's drive-thru yesterday with my son. Happy meal, $5.99. Not the Big Mac meal, the happy meal for my 11-year-old. Not adult food, baby food. You get it, though.

I don't have to run down a list of things going up in price, but it is about to get worse. Did you know that? Yeah, get ready to shell out even more for some of your go-to items like electronics, clothing, toys, medical supplies, video games, and gas again, and food again. That's whether you eat at home or out. Prices are rising for a number of reasons. But the printing of money to pay for the gross federal overspending, that's granddaddy number one. The federal government spent $3.1 trillion more than it received in 2020.

and it spent $2.8 trillion more than it received the following year. Now, although spending has cooled a bit due to COVID cooling off, the deficit is still expected to grow by $1 trillion per year, every year, for the foreseeable future. Well, at least it's just $1 trillion, right? I mean, it's just one. Well, you know how much $1 trillion is? $1 trillion in $1 bills would measure 67,866 miles, stretching almost three times around the Earth's equator.

In $100 bills, you could fill four and a half Olympic-sized swimming pools. A paper released last week by Francesco Bianchi of Johns Hopkins University and Leonardo Melosi of the Chicago Fed, the findings in their paper placed the blame on government spending for the current sky-high rate of inflation. That's what they said. Massive government spending equals massive inflation.

Now, federal spending, this is nothing new. It has always been a problem. But the spending, it really took off in recent years after Congress, they passed multiple rounds of COVID stimulus under both the Trump and Biden administration. It didn't end with COVID, though. The spending continued with Biden's $1 trillion infrastructure bill last year and this year's Inflation Reduction Act of about $740 billion. Despite the bill's name, it won't do a thing to curb inflation.

Naming it anti-inflation, that's a joke. And they don't care if you even know it's a joke. It don't matter to them. They don't care. The Inflation Reduction Act amounts to hundreds of billions in new specials. that will drive up inflation in prices, hammer small businesses in American manufacturing, increase the price of gas, and sick the IRS on its citizens, all while raising taxes on Americans in nearly every single tax bracket, including those who make less than $400,000 a year.

Then, Biden announced he would cancel $10,000 to $20,000 in student loan debt for people making less than $125,000 each year individually, or $250,000 as a family. The Congressional Budget Office estimated Biden's plan would cost the government $400 billion. Some say way more. Now, it may sound good on the surface, depending on where you're coming from, especially if you were one of those students that got some relief, and that might even cause you to vote for him again.

And that's what he was banking on anyway. I mean, when it comes to politicians, don't be fooled. They don't care about you. I mean, if they don't make money or if they don't get votes, it don't get done. And watch this. That debt ain't canceled at all. But rather, it's just moved onto the government's books. It puts taxpayers on the hook for that amount.

all taxpayers, and it doesn't matter who you voted for either. But really, by taking on this debt, they'll just print more money to cover it, driving inflation even harder and higher. Okay, so sure, you may not have to make those payments each month, but you are now paying $5 for gas, $10 for the $5 footlong, and $20 for a movie ticket. Oh, and then there's the billions of dollars in U.S. support to Ukraine. I mean, sure, we're helping them defeat Russia, but it's also putting America on track to funding Ukraine's entire national budget this year. And here's the crazy part. Watch this.

Just last week, the U.S. Senate passed a short-term government funding bill to avert a shutdown of our government. Did you know that? You know, our own government runs out of money so often. It doesn't even make the news anymore. And we're out there footing the bill for another country's government. We can't even pay our own bills. Biden is spending money in Ukraine that America doesn't have while Americans are suffering,

all Americans. And it gets weirder. Biden's party is actually using the Federal Reserve as a scapegoat for inflation when it's their spending spree that's put the Fed in a very difficult position interfering with its ability to manage inflation. I mean, how can the Fed manage inflation while the government's spending is what's fuel in it? Yet, Federal Reserve Chair Jerome Powell is feeling pretty good about his chances of bringing the economy back to normal, and I hope he does. But what do you and I, what do we do in the meantime? How do we manage rising costs of daily living? How do you protect your wealth?

How do we protect our wealth from being destroyed by inflation? It's pretty simple, really, but it'll take some different thinking. It's all about positioning. As the everyday citizen, the average consumer, you're getting screwed because you're on the wrong side of this thing. But you can position yourself on the right side of it. And here's what I mean. You see, the government can continue to rack up debt because they know over time,

inflation will pay it down for them. You see, inflation, it's an equal opportunity currency destroyer. It destroys the purchasing power of your president's money. in the same way it's destroying yours. And it destroys your money, in the same way, it destroys the money that you borrow. You see, the government, they understand this. So they borrow.

I mean, better to destroy someone else's money than yours, right? Well, you can play the same game. You can borrow that of which depreciates in times of inflation to purchase things that appreciate in times of inflation. That's the position I'm talking about. So all you have to do is ask yourself, what's appreciating during these inflationary times that you can invest in? Well, I mentioned a bunch of them already, right?

I'm talking about food, energy, gasoline, housing. You can invest in all of those. But there's only one of those the average person can borrow money to make that investment. That's the positioning equation, right? Borrow that of which depreciates in times of inflation to purchase things that appreciate in times of inflation. I mean, that's how the system wins, and it always wins. That's what they do. And if you want to win, that's what you do.

And the only one of those things the average person can borrow money to make that investment in is real estate. Weird how it always comes down to that, isn't it? Using other people's money, a depreciating asset, to buy housing and appreciating asset. And preferably one that generates an income, too, because during times of inflation, that income will appreciate also. That's how you're not just survive this bugged out time we're living in. That's how you can come out way ahead once this thing blows over. And it will. Winter, it doesn't last forever.

Spring is coming. But by the time it gets here, it might be too late for you. Or at the very least, you might have missed out on a ton of opportunity. So get positioned correctly and do that right now. And do us all a favor. Keep your opinions of the problems to yourself. We all know what they are. We've discussed the problems at Nazium over the last few years. Share your solutions. I mean, we all need to stop focusing on what happening and focus on what we want to have happen. Do that. Then everything is going to be all right. We'll be back with more right after this.

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so they can escape the daily grind and retire early. I mean, that's what everyone wants, right? To retire early? I mean, who wants to work if they don't have to? But there's this guy, Grant, Cardone. You know him? He's been on the show a couple times. Good dude.

He owns a lot of real estate, makes a ton of money, has a private jet, sends out a lot of emails too. And I got this one this week. Four reasons I will never retire. And I was like, never? Is there a good reason to never retire, let alone four good reasons? Are they good enough reasons for you to never retire? Is there something we're missing? So, Cardone, his email reads, I've locked count of how many times people have asked me, grant, with all you've done and all you have, when are you going to retire and just enjoy life? question. The question has crossed my mind a couple of times and not just with regard to Grant, but I think something like that when it comes to all billionaires. I mean, isn't a billion

enough? I mean, I'd be cool with a billion. So Grant goes on to explain while he'll never retire, saying that he's been enjoying life for over 30 years and he plans to keep right on enjoying it. And I thought, well, yeah, but wouldn't that be a little more enjoyable not working? wine tasting, race cars, shoot guns, bar hopping, going to the driving range, taking a nap, surfing, fishing, driving through the country, snowboarding. I mean, you're a billionaire. You're not drinking two-buck truck from Trader Joe's. You're not racing Toyotas. You're not just snowboarding in your local mountains. We're talking screaming eagle, lambos, and the Alps. I mean, wherever you want. We're doing it upright. And we're taking our family and our best friends with us. Those are some of the things that I'd do

right away. And let's get back to Grant now. I scrolled down the page to see his four specific reasons as to why he won't retire. Number one, quitters never win and winners never quit. A little cliche, but I read further. Even after all this time and all that I've done, I still wake up every morning just as excited as ever about what the day will bring. New projects, different challenges, the chance to help someone, you name it. In my life and my business, there's no such thing as a typical day. With possibility and potential around every corner, retiring is the last thing on my mind.

That's what he wrote. Now, if you want to call me a quitter because I quit working after making a billion dollars, then call me a quitter. I'm totally okay with that. And I'll ponder on my yacht whether I should feel bad about it or not. And with regard to new projects, challenges, helping people, possibility and potential around every corner, you can get all of that without working, can't you?

I mean, navigating a black, Black Diamond Run and Vale? That's a challenge, right? Or sharing what I know with a view of Santorini over lunch with young up-and-comers, that's helping people, right? No work involved there. Here's a second reason. Number two, enough is never enough. And he asked this interesting question. Ever see a sports team quit a game because they're so far ahead they think they can't lose? That was the question. And I was thinking, yeah, see that all the time. I mean, I remember San Antonio quit defending Houston in the final 42 seconds, and Tracy McGrady put up 13 points and 33 seconds

to hand San Antonio that loss. Even more memorable was when the Knicks quit and let Reggie Miller put up nine points in the final eight seconds to lose that game. There was this one Monday night game when the Buccaneers quit, when up three touchdowns over the Colts, and they allowed Peyton Manning to score 21 points

in the final six minutes to an embarrassing buck's defeat. And they remember that one World Series where the Cleveland Indians were up three games to one and quit, giving the Cubs their first World Series in more than a hundred years. And then that one time, the Atlanta Falcons were in the Super Bowl crushing the Patriots. I'm not even an Atlanta fan. And that one heard. So I was like, yeah, Grant, I've seen a sports team quit a game because they were so far ahead. And now I'm feeling on track with Grant and was waiting for the point. And then I read the answer to his own question. Of course not, he said. It does not

happen on the field or the court. And it doesn't happen in his business. And I was like, Huh? It does happen on the field and the court. Happens all the time. I mean, it's cool if it doesn't happen in your business, I believe you, but sports happens all the time. I don't know, maybe he's not a sports fan. I mean, he could have just said, I like to win and I can't get enough of it. That would have been good enough for me. All right, number three, complacency is death. Everyone is so focused on the doom and gloom that they can't see the opportunities pop it up all over the place. Right now, real estate alone is a one-way ticket to increased wealth. And there are so many other needs created by this crisis just waiting to be fulfilled.

Businesses that are forward-thinking and ads like this can adapt and turn adversity into an advantage. That's what he said. Then I get that. I mean, I say that same thing here all the time. I couldn't agree more. I mean, there's more money about to be made in real estate right now than any time in history. And if you're looking to create your billion, you better get on board. Real estate, it's the final frontier where the average person has got a realistic shot at it.

But I have got a billion dollars. Don't know if I need any more opportunities like that. But I'd be down for the opportunity to play Augusta National or rub elbows with Beyonce and Jay-Z in the Hamptons. That's opportunity too. And doesn't sound like work. Number four, expansion is survival. That was Grant's fourth reason.

And he goes on to explain. I locked my father when I was 10 years old. My family and I were left with almost nothing. I painfully learned that anything can happen. I don't ever want my wife or my children to have to, worry, so I'm going to provide for them as long as I can. Then there's the family that I've created at the 10x advisor network, at Cardone Enterprises, at Cardone Ventures, and many more. I know I'm going to have to pass the torch one day. And when that happens, I want to make sure that they're in the

best shape possible to carry on what I started. We all get one shot at life, so we have to take our best one. Anything less is a disservice to our community, our co-workers, our family, and ourselves. I'm certainly proud of everything I've accomplished both in my businesses and my life, but I'm far from done. Now, that's notable, respectable, and admirable. Says a full load about Grant as a person. See, I told you he was a good dude right from the beginning. And I've got no issue with anything Grant said about never retiring. His work is obviously what makes him happy.

And if that's the case, then he shouldn't ever retire. There's the saying, if you love what you do, you'll never work a day in your life. You heard that? Confucius said it. You know him? Yeah, that's what he said. Then there's this guy Tim, Cook. You know him? CEO at Apple. He said, that's a total crock. He then clarified his statement during a commencement speech at Tulang.

Tim said, find a job you are passionate about and you'll work harder than you ever thought possible. But the tools will feel light in your hand. And that makes sense to me. But a frozen rum runner in the Bahamas is pretty light in my hands too. Then there's this guy, Jadicus. You heard him? He was in this rapist. group, The Lox. Talent MC, smart dude, you know what he said about all this? He said, life is short.

Tomorrow is not promised. So to be there with my kids and do things with them and go on family vacations, this is more valuable than anything. That fits. I'm going to go with that one. And it's real estate that's making it happen. And if you're unsure of how you're going to make yours happen, real estate has done it for more people than anything else.

So might as well play the odds. That's why I chose it. probably why Grant chose it too. Here's the retirement advice I gave my son, because Jadica said life is short. And it is. I said, son, when it's time to work, do the hard stuff that most people won't do for a while,

so you can do the fun stuff most people can't do for the rest of your life. And that wraps up the epic show. If you found this episode valuable, who else do you know that might too? There's a really good chance you know someone else who would. and when their name comes to mind, please share it with them and ask them to click the subscribe button when they get here

and I'll take great care of them. God loves you and so do I. Health, peace, blessings, and success to you. I'm Matt Terrio. Living the dream. Yeah, yeah, we got the cash flow. You didn't know, home for it, we got the cash flow. This podcast is a part of the C-Suite Radio Network.

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