The Millionaire Booklet by Grant
One Line Summary
OBSESSED MANIAC teaches you his secrets to making piles of cash
If you know Grant Cardone, you know he is obsessed.
In The 10x Rule, he famously summarized the key to success as taking 10 times as much action and setting your goals 10 times higher than anyone else. In Be Obsessed Or Be Average, he purposefully put a picture of himself straddling his private jet on the cover.
What could be next?
Grant’s latest book is called The Millionaire Booklet. It’s a book written with the specific intention to get you to owning a million dollars, which is something 98% of people will never accomplish according to data I pulled from CNBC article.
It’s an extremely small book (hence, booklet), written by Grant is apparently only 2 hours. But it’s the simplicity of it that really makes it valuable.
The general idea is that anyone can become a millionaire by following a very basic over-arching formula. It’s to the point, powerful and reads in a way anyone can understand.
Why it’s Awesome
The first thing Grant tackles in this book is your mindset. Without this piece, nothing will work moving forward.
Grant argues that so many people feel guilty about making money because of the way they were raised or the narratives they were fed by society. We’re told that making money is “greedy” or “selfish” or that we should “just be happy with what we have”.
Personally, I understand why these beliefs exist. There’s a bit of truth in them. But as Grant shows, these half-truths become rules we apply blindly when it doesn’t benefit us.
For example, Grant points out that his same mother who would yell at Grant to be satisfied with what he had would also try to scrounge and save every penny. And while it may have been done with good intentions by a loving mother, this is still obvious hypocrisy for anyone who thinks about for half a second.
If she wasn’t happy with what she had, why should Grant?
I’m sure you may also see this kind of thing in your own life. The people who resent and shame people for making money almost inevitably never have any. And ugly truth is that when reality comes and these same people can’t pay their bills, who do they come to? That’s right, “selfish” people with money who then often save them.
So in terms of the personal development journey and what we’re doing here at Aurum Reviews, it is absolutely necessary that you don’t fall for this trap.
Grant points out that money does not come to people who don’t appreciate it. It’s a bit like having a successful relationship.
So that’s the mindset. Now let’s dive into this crazy man’s secret tools for exploding your bank account. These are steps which move in order, so each one builds on the previous.
Grant Cardone Math
What are all the ways mathematically to making your first million? 100,000 people buy a $10 product. 5000 people buy a $2000 product. 2000 people buy a $5000 product. $3333.33 a day for one year. On and on it goes.
Figure out how you want to make your million and work backwards. Start with the math in mind.
Focus On Your Income
I once read that Warren Buffet said “the first rule of making money is don’t lose money”. True, but as Grant points out, the game of making your first million requires a lot of offense as well.
For Grant, offense means getting your income up. It doesn’t matter how. Take a second job, sell shit on Ebay, start a business or panhandle. But get cash flowing in.
Without income, you cannot move into Grant’s next step which is…
The Power of Broke and Sacred Accounts
Now that you have income, it’s time to go broke. Take everything you possibly can and put that money into sacred accounts WHICH YOU WILL NOT SPEND FROM. I repeat, which you will not spend from under any circumstances.
Yes, this means that even if you’re doing the best you’ve ever done monetarily, you will have to pass on all the glitz and glam propped up by society. No Ferraris, no club tables, no $1000 watches. Stop trying to skip ahead.
This is for people who are playing for all-time great status. That requires MASSIVE long-term thinking, patience and often upfront sacrifice.
You are playing chess. You can’t be discouraged if you’re setting something up that people won’t see for years and years. Let them talk, you execute.
You’ve got a reliable, steady stream of income you can depend on. You’ve got savings in sacred accounts from your time “being broke”. Now it’s time to take the queen.
Take the money from the sacred accounts and make a smart investment(s). These should be symbiotic with your current income stream so that both now feed each other. Your financial wealth should begin to explode exponentially.
This will obviously be scary, but that’s the value of the income stream. It will save your ass should things for whatever reason not work out.
It you haven’t made a million from this process, simply keep saving and investing until you hit it. Then when you’ve got so much money you don’t how to spend it, maybe you finally go for that Ferrari. Maybe.
But get there first.
Why Does It Suck
This is not a book for people who aren’t willing to think long-term. If your concern is only “how do I pay the rent?” or “how do I save money at the grocery store with my coupons?” you are far from executing on what Grant is advocating here.
And that’s fine. Maybe you’re very happy and a great person. I know plenty of people who would find this book ridiculous because they truly enjoy a simple life.
But you’re not going to enjoy this book.
This book is also geared towards people who have time. It’s easy for me to talk about long-term thinking when I’m 25. Admittedly, it’s got to be tougher when you’re 65 and already worked yourself into the ground.
That’s why I’m so grateful I found this kind of information while I’m young. It’s just time.
The Wrap Up
Get this book if you’re highly ambitious and want a simple formula to crush it. Grant doesn’t use fancy finance terminology or talk about 401ks. This is for people going all in.