Youtuber Grant Cardone, a motivational speaker and real estate mogul, has recently made headlines with his provocative views on income expectations. In a recent YouTube video, Cardone made the controversial assertion that earning $400,000 annually is “embarrassing,” stating, “If I made $400 grand a year, I would be embarrassed with myself as a husband, a father, basically as a human being. $400 grand. How do you make sense of $35,000 a month? You guys haven’t done the math. You cannot live on $400 grand a year.”
This remark starkly contrasts the financial reality for the vast majority of Americans. Data from SmartAsset shows that in several states, a $400,000 income nearly places one in the top 1% of earners. Comparatively, the median weekly earnings for full-time workers in the United States in the fourth quarter of 2023 amounted to roughly $4,580 per month, significantly lower than the $35,000 that Cardone scoffs at.
Further amplifying his philosophy in another video, Cardone claims, “One million dollars is no money,” explaining that spreading a million dollars over 30 years yields about $33,000 annually, which he believes is insufficient for a comfortable lifestyle. He also critiqued the financial advice from millionaires, suggesting their insights might be limited: “Don’t seek advice on the view from someone halfway up the tree; they can only tell you what they think the view will be.”
Cardone’s comments could be perceived as particularly tone-deaf, especially to small business owners and solopreneurs who often face significant challenges in scaling their income. His blunt dismissal of what many would consider a substantial income highlights a disconnect with the financial realities that everyday entrepreneurs face.
Promoting real estate investment as a primary strategy, Cardone advocates for generating wealth through multiple income streams, emphasizing the value of passive income from apartment buildings. His investment firm, Cardone Capital, reportedly distributed $60 million in passive income to its partners last year, suggesting his methods have merit for those who can invest heavily.
Cardone’s approach and comments underscore a broader discussion about wealth accumulation and financial security. While his strategies may resonate with some, they also reflect a viewpoint that is far removed from the fiscal experiences of many Americans, particularly those who manage small businesses and entrepreneurial ventures. Consulting with a financial advisor remains a prudent step for anyone looking to navigate these complex financial waters.
