The Millionaire Booklet: How To Get Super Rich by Grant Cardone (GC) is a short book in which GC shares with the reader a simple 8-step guide to becoming “rich”, or “super rich”.
- First step - the millionaire decision
- Lose your mind. Lose the middle class mindset and embrace the millionaire mindset. Play offence.
- Second step - millionaire math
- Do the math. Calculate all the different ways to reach 1 million dollars.
- Third step - increase income
- Look at different ways you can increase your income streams.
- Fourth step - who’s got my money
- Spend and focus your time on people who have money and what you can do for them in exchange for their money.
- Fifth step - stay broke
- Continue living on the same budget and save the surplus.
- Sixth step - save to invest, don’t save to save
- Save with the view to re-invest those savings. Then go all-in on investments you have complete confidence in.
- Seventh step - multiple flows of income
- Not to be confused with replacing existing streams with new streams. This step is referring to creating additional income streams.
- Eighth step - repeat, reinforce, and hyperfocus
- Keep repeating and doing the above 7 steps. And stay focused on the goal.
1 - it will be harder than you think
2 - it will be a lot simpler than you think
3 - you will achieve way more than you imagine possible
Success = idea + hard work + discipline (over) time
In chapter 5, Grant makes a suggestion to find unused goods at your relatives’ place and sell them.
If you do take up this idea of selling your relative’s unused goods. You will need to first take ownership of the goods before you sell them. Otherwise, you’re essentially selling stolen goods.
In chapter 8, Grant claims that casinos make money because people are not willing to go all-in.
If everyone went all-in. The winners will take all the losses of the losers plus more. Leaving the casino at a net loss.
I don’t agree with the casino example. As that is pure gambling, there is no way to be confident that you will win. But that is not the message, the message is to go all-in and make a big bet - when you are confident that you will come out on top.
Paperback from millionairebooklet.com