Skip to main content
No. of Recommendations: 7
I think a lot of people have a tendency to look at small expenses as being insignificant, and don't realize that they can really add up.

And why is that? Mebbe because they are told so by financial "experts".

http://www.bankrate.com/finance/savings/money-myths-3.aspx

"People need to stop always looking at the expenses portion of their budget. … It is usually the shortage of income that gets people into trouble," Cardone says.

Psst. Stay on that treadmill. There is massive amounts of consumer goods you NEED!

Those who want to have a large nest egg need to stop thinking in terms of trading time for dollars, Siebold says. Instead, acquiring wealth is a "nonlinear process and comes from generating ideas that solve problems," he says.

In fact, most fortunes can be created almost overnight, if you have the "right idea at the right time," Siebold says.


Psst. Stock trading is the path to riches! [at least for your broker]

Cardone agrees. He says that many middle-class money woes don't stem from big spending, but from not enough income being generated by members of the household.*


I know several divorced people with excellent income that were unable to keep the spending of former spouses. In the end it became a deal breaker.

I read the entire article & couldn't find any explanation on why Cardone was an expert. Or even what he did for a living.

I did find there is a Grant Cardone on CNBC. He is a super salesman. His books:http://www.amazon.com/s/ref=nb_sb_ss_i_1_13?url=search-alias...

*What I find interesting is that he does have a problem with federal government spending & throwing more taxpayer money at any problem. I dunno seems inconsistent to me.
http://www.youtube.com/watch?v=SkXddQyHwlE


Read more: http://www.bankrate.com/finance/savings/money-myths-1.aspx#i...
Follow us: @Bankrate on Twitter | Bankrate on Facebook
Print the post  

Announcements

The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.