Here’s a wake-up call: Americans between the ages of 55 and 64 have an average retirement savings of $537,560 and a median retirement savings of just $185,000. Considering most financial advisors lean into the golden rule of having at least $1 million in your nest egg before you retire, this is alarming.

Add Social Security’s average benefit check of about $2,012 into the mix, and your monthly bills are probably looking a little steeper than you would have expected in your golden years. However, money expert and real estate mogul Grant Cardone said it doesn’t have to be this way.

After completely overhauling his finances at age 51, he transformed his net worth to build a billion-dollar real estate empire in just over a decade. Here are Cardone’s retirement tips and straightforward advice he shared on his YouTube channel for avoiding financial disaster in retirement.

“Your mama told you to save your money, your daddy told you to save — they told you about the bottom half of a financial statement, not the top half,” Cardone explained. Instead of pinching pennies, he suggested people generate serious income. Make so much that “the spillage will take care of you in retirement.”

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Cardone warned against parking money in typical spots like “savings accounts, checking accounts, money markets, mutual funds, ETFs, 401(k) plans and IRAs.” With returns as low as what he explained as “.0018%,” these accounts won’t build real retirement wealth.

After studying various investments, Cardone landed on apartment buildings as his golden ticket. “This particular asset class would appear to double based on the past four decades,” he said. Better yet, it creates monthly cash flow — crucial passive income for retirement.

“Never rely on one of anything ever,” Cardone added. Having multiple revenue sources means you’re never riding on a single income stream.

Think 50 or 60 is too late? Think again. “Most importantly, it’s not too late,” Cardone said, pointing to his own transformation that began at 51.

Good health supports wealth-building. Now successful, Cardone said he spends an hour and a half working out every day and invests in preventative care — avoiding medical expenses that can drain retirement savings.