TrudyBeerman

Wealth Scams? The New Wealth Thinking for this Generation.

Wealth scam warning.  Wealth scams have been around for as far back as history can be traced because crime has been around from the beginning of time, all the way back to Cain and Able. If you follow the crime trail, it often leads to money as the motive.  In the case of Cain and Able, that was also the case because Cain was jealous that the tithe Able gave (wealth) was better than his, and Able found favor with God, so Cain killed him (Genesis 4).

As a trained Paralegal, one of the investigative hunts in most court cases is to follow the money.  Some of you may know I did a stint at the Department of Justice.  That experience helped me brand myself as ‘The Speaker who finds a money trail in any topic.’

So when my mentor, Grant Cardone put out a post titled The Five Biggest Scams of Your Life, I felt compelled to respond.

I was not surprised all these ‘scams’ he referred to were in the genre of wealth.  Money, and how to get more of it is what Grant Cardone is famous for, and why I took his course.

old, success,

 

My company, Profitable Stewardship, Inc. is all about moving the Christian to become a Profitable Steward (manager) of what God has put under our control because prosperity is not entitled, but it is within reach.  Debt-free wealth is the result of being a profitable Christian, but you won’t be profitable if the profit you pursue ties you up in a wealth scam.

Here are the wealth scams Grant Cardone addressed:

wealth scam, Grant Cardone,

 

I won’t rehash his argument here.  I encourage you to go read the original article because Grant Cardone’s logic is very unique.

I just wanted to bring this conversation to your attention and vent my own thoughts on these ‘scams.’  Bear in mind, my opinion is very likely influenced by what I have absorbed from following Grant Cardone for a while, but my position is absolutely influenced by the Word of God.

Wealth Scam Victim. I got Suckered!

I confess I have participated in every one of these things that Grant calls ‘scams.’

I had a Broker hold our money to invest it in Wallstreet, we had a managed 401K, we own our home, I am a college graduate, and we are part of the middle class.  I am also 50 years old, and this was the wealth path portrayed for those of my generation.

Although Grant Cardone is 57 years old, he had his pulse on wealth and escaped the traditional way of thinking to be the multi-millionaire he is today, so I have to defer to his wisdom and pay attention to this challenge to the status quo.

When we lost our hard earned money in the recession, the loss I lamented the most was the ones managed by other people. Our investments and 401K were in the hands of ‘experts.’

If I crash my car, that is a hard loss.  If someone else crashes my car, that loss feels worse. I am sure many of you can relate to that feeling.

Wealth Scam: Let the Experts do it

#1 and #2 on Grant’s scam list can be solved by learning to manage your own money to profitable increases rather than turn it over to ‘experts.’  The process of learning to manage your own money also comes with an enhanced acumen in analyzing money-making opportunities to sniff out the scams.  To that end, I encourage you to consider signing up for a Grant Cardone workshop, as I did, to hone your money and sales skills.

 

My confidence, my mindset, my drive and yes, my results have been incredibly impacted because of my learning from Grant Cardone.  You must invest in yourself!

 

Wealth Scam: Buy a Home

The first scam is, you cannot buy a home, you can only buy a house.  A home is where the heart is.

 

Grant Cardone understands that so he can make anywhere he chooses to live, his home. Home is where you do family and love.  That can truly be done at any address, so there is no need to feel you must acquire a debt for a property you cannot cash flow.  As a licensed Real Estate Broker, I must agree with Grant Cardone on this one.  Owning real estate for any other reason is a scam.

Grant Cardone is a major player in the real estate market, yet he denounces home buying. At the last time I checked, Grant Cardone had a $350 Million real estate empire. 

This one may be a head-scratcher for many, but not for me. My home is not a wealth generating machine.  My home is a money sucking adventure. The way Grant does real estate, he uses it to create cash flow and wealth.  Owning and residing in your home does none of that.  Just know, your home sits on the ASSET side of the bank’s balance books, and it should sit on the DEBT side of yours.

What owning a home does for me is create a sense of stability and roots, however, knowing what I know now – I am game to ditch this thing and cut the geographical ties to a single location that costs me money rather than earns it for me.  Thanks to the recession, we are still upside down on this ‘non-asset,’ so now is not the time to release it.  How did we ever buy into the idea that holding a non-income generating expensive thing could count as a wealth creator is beyond me?  We truly have been scammed.

A home is primarily a lifestyle statement and the way Grant Cardone does lifestyle, he remains flexible to move on the ladder freely without drag or anchors.  He can trade up his current penthouse suite for a nicer or different one as his life dictates because he rents where he lives, and owns the real estate that cash flows.

The Bible on Property Investing

The Bible would agree with that strategy.  Proverbs 24:27 says

“Prepare your work outside; get everything ready for yourself in the field, and after that build your house.” (ESV)

The lifestyle you enjoy should be one you can afford.  “and after that build your house,”  Your house is a reflection of the lifestyle you can afford, and should not be a false impression of a lifestyle you cannot afford.

Building your house also implies EQUITY!  A house with equity is a money maker.

Please note too, the verse said build your HOUSE, not home.  Home is truly where the heart is. So many live in mansions that never feel like home.

A house can become a home, but the Bible said, with the income from your work in your field, build your house.  A house is a non-emotional asset, a potential money maker.

 

Wealth Scam: Pursue Pointless Learning

College is highly overrated and today’s college graduate is under performing.  College is a great wealth scam because most students go there just because…  Fill in the blanks.  I went to college because____.  Very often, “my parent said so”, to get a good job, to meet a husband and more are all reasons that of themselves have nothing to do with pursuing your passion or calling.  Most go to college without even knowing what their life’s purpose is, so they take classes mindlessly, that leverage to an increased debt burden and unhappiness later.

Learning should be a leverage to increased skills to earn money.  Going to college to get a liberal arts degree that prepares a person to do absolutely nothing is a scam.  Learning is good, but purposeful learning is key. I am a perpetual student and always will be.  I believe my investment in Cardone University gave me more money leverage than my Bachelor’s degree because among the courses I did really want,  the college said I had to take courses I had zero interest in if I wanted the piece of paper that said I graduated.

Technical or trade schools are discounted by the educated snots- and today, there are more skilled jobs available than jobs for glorified, college trained paper pushers.

Proverbs 22:29 “Do you see someone skilled in their work? They will serve before kings; they will not serve before officials of low rank.”

Wealth Scam: Hang out in the Middle

I agree with Grant that the Middle Class has to be the worst wealth scam of all.  When did being in the middle become a thing to celebrate?  A thing to achieve and be comfortable with. The middle for me is a plateau rest on my road to the top of my potential. I regret the lost years of complacency when I agreed that the middle class was a comfortable place to stop.  Today, it is my new launching pad to my next level.

Jesus said he came so that I could have life more abundantly (John 10:10).  I want life more abundantly.  Abundance is not the middle road.  Abundance is not mediocrity.  Abundance is more than I need, extra, overflow.  I want that.  Abundance will allow me to give generously and joyfully to the things that move my heart.  Having just enough will always make giving painful because when I have just enough – or worse, not enough, then to give is to deplete from my own place of need.  So, why settle for the middle?

 

 

 

 

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