What's The Coli's General Consensus on Grant Cardone?

TNC

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Its free money though, If im putting in 400-600 every two weeks and someone is willing to match that why would I NOT take it?

They basically imply, if not outright say, that you can take that money and instead of putting it somewhere someone else controls it, why not do all of that yourself and not pay the fees? Or take that $400-600 a month aside for a year, use it as a down-payment for a starter home and rent it out for $1200-1500 a month. You'll make your initial investment back in a year, plus profit and you are gaining equity at the same time.
 

Silkk

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They basically imply, if not outright say, that you can take that money and instead of putting it somewhere someone else controls it, why not do all of that yourself and not pay the fees? Or take that $400-600 a month aside for a year, use it as a down-payment for a starter home and rent it out for $1200-1500 a month. You'll make your initial investment back in a year, plus profit and you are gaining equity at the same time.
Set aside $400-$600 every 2 weeks in savings with no return or you could have someone match that every 2 weeks and then even if you want to cash out on that after a year it still just makes more sense even with the penalty.

It makes zero sense to turn down free money no matter the spin put on it.
 

jilla82

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Its free money though, If im putting in 400-600 every two weeks and someone is willing to match that why would I NOT take it?
This is a balanced video on the subject

Cliffs:
1. Youre probably paying $100K+ in fees,
2. The market could be down when you retire
3. People think they dont have to pay taxes...you will when that money is pulled (and who knows what the tax rates will be then).

Like I said...if you have no interest in investments, business, making money...its better than nothing...
...but if youre interested in your well being...make sure that the 401K isnt your retirement plan (like most people).


 

Jimmy Two-Times™

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This is a balanced video on the subject

Cliffs:
1. Youre probably paying $100K+ in fees,
2. The market could be down when you retire
3. People think they dont have to pay taxes...you will when that money is pulled (and who knows what the tax rates will be then).

Like I said...if you have no interest in investments, business, making money...its better than nothing...
...but if youre interested in the hustle...make sure that the 401K isnt your retirement plan (like most people).

Also, you're not taking into account for inflation so whatever you put into your 401K will not be what you get out of it since money depreciates as the years go on.

Inflation!!
 

Silkk

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This is a balanced video on the subject

Cliffs:
1. Youre probably paying $100K+ in fees,
2. The market could be down when you retire
3. People think they dont have to pay taxes...you will when that money is pulled (and who knows what the tax rates will be then).

Like I said...if you have no interest in investments, business, making money...its better than nothing...
...but if youre interested in the hustle...make sure that the 401K isnt your retirement plan (like most people).

You said set aside $400-$600 every 2 weeks for a year and put it on a rental property......How does that make more sense then having someone match that EXACT amount every 2 weeks and then withdrawing it after a year?
 

TNC

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You said set aside $400-$600 every 2 weeks for a year and put it on a rental property......How does that make more sense then having someone match that EXACT amount every 2 weeks and then withdrawing it after a year?


Fam, withdrawing after a year??

You'd legit be better off taking that same money you are putting into the 401K into Stocks or Crypto and withdrawing it after a year to afford that rental property. The fees and taxes you gonna pay are crazy with what you are suggesting. Its better than nothing of course, but I wouldn't consider that a top 5 option.
 

Silkk

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Fam, withdrawing after a year??

You'd legit be better off taking that same money you are putting into the 401K into Stocks or Crypto and withdrawing it after a year to afford that rental property. The fees and taxes you gonna pay are crazy with what you are suggesting. Its better than nothing of course, but I wouldn't consider that a top 5 option.
Breh, How would putting that money into stocks or crypto bring you that same guaranteed return on your investment as somebody matching your exact amount every week or two.....?
 

MJ Truth

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He isn't wrong here though. People gotta realize that when people give advice like that, it's not really for average people who just want to live a regular life. That's the problem here when people watch Cordone or a guy like Dame or anybody else; if you want to just work a regular job and live out a regular life, then a 401(k) is probably okay for you. If you want real success and control of your life, nah.
 

MJ Truth

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Set aside $400-$600 every 2 weeks in savings with no return or you could have someone match that every 2 weeks and then even if you want to cash out on that after a year it still just makes more sense even with the penalty.

It makes zero sense to turn down free money no matter the spin put on it.
It does if you could make more money with less fees doing something else. Most people aren't going to commit to wanting to control their own destiny though, therefore the 401(k) is good for them/y'all (that's not an insult). Like I said, no advice is meant for everyone.
 
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