The Top Common Mistake of the Affluent & the Broke

Expansion vs. contraction. The mistake is this: mixing up when on should contract and when one should expand. Think about it like you’re driving a vehicle. You have the gas and the brake. Neither of them are “wrong” options. They both serve a purpose right? However, the misapplication or wrong timing of either of these options could be detrimental. If you’re driving down the highway at 70 mph and randomly slam your break instead of the gas pedal, there is a good chance you’ll be rear ended. Conversely if you’re at a red light at a busy intersection and you hit the gas instead of the brake, there is a good chance you’ll be t-boned. Expansion and contraction are similar. There are exact times when we should expand and if we do anything other than expand, it will result in the demise of our finances. Same thing goes for contraction. So the common problem between the affluent and the broke is that both groups commonly misapply contraction and expansion. Learn more:
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Star of Discovery Channel’s “Undercover Billionaire,” Grant Cardone owns and operates seven privately held companies and a private equity real estate firm, Cardone Capital, with a multifamily portfolio of assets under management valued at over $4 billion. He is the Top Crowdfunder in the world, raising over $900 million in equity via social media. Known internationally as the leading expert on sales, marketing, and scaling businesses, Cardone is a New York Times bestselling author of 11 business books, including “The 10X Rule,” which led to Cardone establishing the 10X Global Movement and the 10X Growth Conference, now the largest business and entrepreneur conference in the world. The online business and sales educational platform he created, Cardone University, serves over 411,000 individuals and Forbes 100 corporate clients throughout the world. Voted the top Marketing Influencer to watch by Forbes, Cardone uses his massive 15 million plus following to give back via his Grant Cardone Foundation, a non-profit organization dedicated to mentoring underserved, at-risk adolescents in financial literacy, especially those without father figures.