Turn $40 into $10 million
Grant Cardone, NY Times bestselling author, self made multimillionaire entrepreneur, international sales master and motivator in business and life offers insights and advice each week on the Cardone Zone, a show that helps people better their careers, businesses and finances so they can create true freedom in their lives.
In this episode, Grant Cardone talks about long term investing and how the media leaves out important facts. He uses the example Warren Buffett saying that long term investing requires patience because if one made a $40 investment in Coca-Cola in 1919, they would have 11 million dollars today. Although Grant studies Warren Buffet he knows there are other things to consider. First, $40 in 1919 is equivalent to $515 today. In 1919 few people had $40 to invest with, Coca-Cola was an unknown brand in 1919, History impacted the stock making it likely you’d sell it, 1919 was 95 years ago so you’d be old or dead, unable to use the money. Grant then offers 5 ways in which he approaches money and investing.
1. Focus on generating income.
2. Create surplus income.
3. Set aside money that can be risked.
4. Invest in sure things.
5. Avoid investments that can be disrupted.