Grant Cardone\/Youtube <\/p>\n
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The top 1% of earners in America hold more wealth than the entire middle class combined. Grant Cardone believes it\u2019s time to change that.<\/p>\n
In December, Cardone posted, \u201cAmerica should have the wealthiest middle class in the world, bar none!\u201d Expanding on this in a blog post, he urged Americans: \u201cDon\u2019t be grateful for the middle class \u2013 be in a hurry to get out of it.\u201d<\/p>\n<\/p>\n
Cardone argues that the middle class shouldn\u2019t exist. According to him, this demographic, which makes up the majority of American households, has been lulled into complacency by a \u201cmyth\u201d designed to keep people satisfied with less.<\/p>\n
Cardone claims to offer a way out of the paycheck-to-paycheck lifestyle.<\/p>\n
Here\u2019s a breakdown of his advice \u2014 and practical ways to act on it.<\/p>\n
Cardone\u2019s first piece of advice: Stop saving and start investing. He calls out the common adage, \u201cA penny saved is a penny earned,\u201d declaring that a penny saved is just that \u2014 one penny that will never grow. Investments, on the other hand, can multiply your wealth.<\/p>\n
The good news is you can put those pennies to work with Acorns, an investing platform that does the hard work of research and investment selection for you.<\/p>\n
When you make a purchase on your credit or debit card, Acorns automatically rounds up the price to the nearest dollar and places the excess into a smart investment portfolio<\/a>. This way, even the most essential spending translates to money saved for the future.<\/p>\n Sign up now and you can get a $20 bonus investment<\/a>.<\/p>\n With that potential of a greater reward, though, also comes a greater risk. And you should be prepared to part ways with your money for at least five years before investing it.<\/p>\n Cardone also challenges the traditional advice to never \u201cput all your eggs in one basket.\u201d He dubs this a myth, claiming that \u201cthe wealthy don\u2019t diversify; they have big investments in small numbers of things.\u201d<\/p>\n But investing in \u201ca small number of things\u201d is still diversification. And it can absolutely be powerful if done strategically.<\/p>\n According to Capgemini\u2019s World Wealth Report for 2024, High-net-worth individuals (HNWIs) are increasingly diversifying into alternative investments. Allocations into this asset group have risen from 13% to 15% since 2013 \u2013 which is a significant increase when considering HNWIs have portfolio sizes in the millions.<\/p>\n Alternative assets refer to investments that aren\u2019t usually included in a traditional portfolio of stocks and bonds. These could include digital currencies, real estate, art, or commodities. Here are two popular options:<\/p>\n Gold remains a safe haven asset because it tends to perform well during market downturns. For example, during the 2008 financial crisis and the onset of the pandemic, gold prices soared.<\/p>\n One way to invest in gold that also provides significant tax advantages is to open a gold IRA with the help of Priority Gold<\/a>.<\/p>\n Gold IRAs allow investors to hold physical gold or gold-related assets within a retirement account, which combines the tax advantages of an IRA with the protective benefits of investing in gold<\/a>, making it an attractive option for those looking to potentially hedge their retirement funds against economic uncertainties.<\/p>\n To learn more, you can get a free information guide that includes details on how to get up to $10,000 in free silver<\/a> on qualifying purchases.<\/p>\n Read more: Nervous about the stock market? Gain potential quarterly income through this $1B private real estate fund \u2014 even if you\u2019re not a millionaire. Here\u2019s how to get started with as little as $10<\/a><\/strong><\/p>\n Real estate also plays a key role in wealthy Americans\u2019 portfolios. The World Wealth Report revealed that, as of January 2024, the average HNWI portfolio invested 19% in real estate, up by 4% from the previous year.<\/p>\n Not all real estate investments are created equal, though. In Cardone\u2019s book, How to Create Wealth Investing in Real Estate, he emphasizes the importance of calculated risk-taking. The conditions have to be ripe for it to be a wise, fruitful investment.<\/p>\n If you’re an accredited investor looking for real estate opportunities, another option is First National Realty Partners (FNRP)<\/a>, which targets necessity-based commercial real estate.<\/p>\n The platform lets accredited investors [own a share of institutional-quality properties] leased by national brands like Whole Foods, CVS, Kroger and Walmart. Investors have the opportunity to collect stable, grocery store-anchored income every quarter<\/a>.<\/p>\n As a private equity firm, FNRP acts as the deal leader and offers white-glove service to investors, providing expertise and doing the deal legwork. While the FNRP team takes care of sourcing new deals, you can engage with experts, explore available deals<\/a> and easily make an allocation, all on FNRP\u2019s secure platform.<\/p>\n To truly accelerate your net worth, consider getting expert guidance across all areas of your wealth. That\u2019s where the trusted team of financial planners at Range<\/a> can come in.<\/p>\n For high-earning professionals or households making over $200,000, Range offers a smart, streamlined way to manage your full financial life \u2014 especially your real estate investments.<\/p>\n Through a strategic partnership with Engineered Tax Services, Range members receive free cost segmentation analysis and discounted cost segmentation studies. Range advisors<\/a> will then use the study as part of a member’s tax planning and strategy.<\/p>\n Cost segmentation shortens depreciation timelines \u2014 from the standard 27.5\u201339 years down to just 5\u201315 years\u2014allowing you to claim significantly larger tax deductions<\/a> sooner and keep more money in your pocket. Note that only investment properties qualify for segmentation studies.<\/p>\n Range also delivers proactive advice across your entire financial life \u2014 not just real estate or taxes<\/p>\n From stock options and tax strategies to real estate and big-picture planning, Range integrates it all under one roof. With a transparent, flat annual fee \u2014 no hidden costs or percentage-of-assets surprises \u2014 you get AI-powered insights<\/a> and comprehensive guidance designed to scale with your wealth.<\/p>\n Another common thread among the wealthy? They don\u2019t go it alone.<\/p>\n Northwestern\u2019s 2023 Planning & Progress Study found that 70% of wealthy Americans work with professional financial advisors.<\/p>\n Cardone argues that developing a strategy to get out of the middle class is especially challenging if you\u2019re surrounded by middle-class mindsets.<\/p>\n This is where a qualified financial advisor can come in handy.<\/p>\n Advisor.com<\/a> connects you with vetted fiduciary financial advisors near you. All you have to do is answer a few simple questions about your finances, and Adivsor.com matches you with a short list of certified experts to choose from.<\/p>\n You can then set up an introductory meeting with no obligation to hire<\/a>.<\/p>\n