The Cardone Zone The Steps to Wealth & the Traps Along the Way
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Jun 4, 2025 Discover the essential steps to true wealth and unveil the common financial traps to avoid. Explore why simply being rich isn't enough and learn how to shift your mindset from survival to expansion. The discussion on building generational wealth reveals a transformative formula that values health and relationships alongside financial assets. Get insights on the importance of identifying assets and liabilities and the power of execution and education in wealth creation. This is your blueprint for moving from hustle to legacy!
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401k Is a Wall Street Trap
- The 401k is a system designed by Wall Street to control middle-class money, benefiting institutions, not individuals.
- It traps people for decades, penalizing early withdrawal and enriching financial institutions through fees.
Exit Traditional 401ks Early
- Get out of traditional 401ks and IRAs by paying penalties now while taxes are low.
- Use self-directed IRAs to invest in real estate and other alternatives without penalties.
Diversify Only When Wealthy
- Diversification is a strategy for the wealthy, not for those building wealth.
- Serious money requires going all in on your main business and investments first.