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Despite the financial struggles many people share, its still possible to achieve long-term financial success.
There isnt a single generation that hasnt had money problems, Cardone wrote in aCNBC article.
I get it, though.
We live in a different world now.
Things are more expensive.
Finding a job is hard.
But that doesnt mean getting rich is impossible.
Financial struggles arent limited to one generation, nor are the solutions.
The more you compare yourself, the higher the likelihood of stressing yourself out.
Plus, the time spent comparing could have been better used elsewhere.
Comparing your worth to others is a mental trap, wrote Cardone.
Stop worrying about how financially behind or ahead everyone else is.
Stay focused on your financial goals.
Sit down and crunch the numbers.
Say, for example, you want to reach millionaire status.
At the same time, figure out what mistakes youre making that are keeping you from that goal.
once you nail the answers to both, make a game plan and take action.
This might be a luxury vacation or excessive dining out.
Buying a motorcycle or expensive shoes that will eventually wear out is not smart.
Even then, use caution when borrowing money like this.
If you put something on credit, confirm you have a game plan thatll get you some nice returns.
Step it up at work so you’re free to get a raise, wrote Cardone.
Find a new job with an even higher salary.
Pick up a side hustle.
Cardone also said that its best to shoot for an annual income of $100,000 or more.
That way, youll have more money to save and invest.
But dont limit yourself.
The return you make from your investments will only increase if your earnings increase.
Even if you have a high income, you’re able to always make more.
Comfort is the opposite of wealth, he wrote.
To be truly wealthy, you gotta aim higher.
Wealthy people seek more than just comfort.
If youre just seeking comfort, youre probably never going to achieve financial freedom.
Comfort gives you a middle class life.
Freedom gives you a wealthy life.
There arent any guarantees that itll work.
Theyre most likely just pretender spenders.
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