How to Make Your First Million
Hey, you're not alone. And I want you to get your head right for the weekend. I'm going to show you how to make your first million. Look, I didn't grow up with money. I've always been hungry. Last night I did a live stream on Periscope and redirected them to Meerkat. There were over 500 questions that I couldn't address, which is why I did How to Make Your First Million on Cardone Zone today.
Here are 4 of the 12 takeaways from the show: 1. Never Been Easier—It has never been easier so don’t make it so difficult. There is so much money in the world today and so many ways to get yourself known. The first thing you have to know is that it’s out there and it’s not that hard. In fact, everyone will be a millionaire in their lifetime: $50,000 per year x 20 years equals $1-million. 2. Saving Won’t Do—The old ideas of saving every penny is not the way today. You can’t simply save your way to the first million without becoming very old. At which point the money probably won’t matter to you. If you avoid spending $5 a day on coffee and snacks it will save you $73,000 over your lifetime. I want to bank millions; quit focusing on $5 and how to save $70k over a lifetime. 3. Live Below Your Means—This is correct and you should live below the money you are making. Not because you are depriving yourself, but because you are seeking to bank millions. No one has ever done business with me because of the suit I wear, the watch I have on my wrist, or the car I drove. Live below your means until you don’t have to anymore. 4. Tax Angles—Push every tax angle you can. Learn the IRS tax code and use it to your advantage. Quit bitching about taxes and learn how it can benefit you. The code was put together to give preference to earners. I have joined multiple MLM companies while still being an employee so I could take advantage of write offs like the home and car. These were, and are, legitimate ways for me to reduce my tax bill and possibly make some more money—plus I have a chance to surround myself with great people. If you want to hear the 8 other takeaways and explanations on all of them, check out my How to Make Your First Million
episode from today. Be Great—Get Rich—You deserve financial freedom, GC
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