Life

Grant Cardone Shares Insights for Canadians In His New Book, The Wealth Creation Formula

Grant Cardone, a renowned figure in the world of finance and investment, and the star of Discovery Channel’s Undercover Billionaire, has unveiled his latest non-fiction book, “The Wealth Creation Formula.” With a wealth management portfolio boasting assets exceeding $4 billion, Cardone draws from over three decades of studying the affluent and shares their strategies for success. In his 14th book, the Wealth Creation Formula, the real estate guru exposes three major financial pitfalls that can thwart wealth creation. He delves into the importance of acquiring the right information, dispelling long-held beliefs, and navigating common traps that can keep you from building real, lasting wealth.

We sat down with Grant to discuss his new book, it’s relevance for 2023, and most importantly, for all Canadians.

What inspired you to write the Wealth Creation Formula? Why now?

I have been confronting the middle class trap for many years. I thought this was a good time to confront the problems with inflation, college debt, and saving money–problems that are affecting both Canada and the US. All these issues that good people–hundreds of millions of good people–have been trying to solve for years, and it has not gotten them ahead. In fact, it has gotten them trapped. I wanted to confront that, and I thought this was a good time to do it.

Inflation is something that is particularly relevant to Canadians right now. How do you address inflation in The Wealth Creation Formula?

Inflation is something that has been around for thousands of years, and it’s not going to go away. We act like it’s the boogeyman. In truth, it has existed since the beginning of time. Prices have always been going up. And wealthy people know that, so wealthy people own assets, not liabilities. Inflation destroys people who are saving money, and benefits people that have real assets that produce cash flow. Inflation is very similar to COVID. It’s invisible, and you don’t know where it came from. The truth is that colds, flus, viruses and inflation have been around since the beginning of time. It’s about how you prepare yourself. And most people are simply unprepared to benefit from inflation. That’s the real conversation.

You have written books for leaders, business owners, and entrepreneurs. Is it safe to say that this book is for everyone?

This book is for three groups of people. It’s for people in the lower and middle classes who are sick and tired of not getting ahead. It’s for the hustlers, the up and coming solopreneurs, that have a great work ethic, but are still not getting ahead. And it’s also for the country club rich people. The people who thought that they were well to do, upper class, that realize they also are at risk. This book is for everyone and anyone who wants more.

In 2023, how does someone discern between genuine financial wisdom and the noise that is out there on social media?

Ask for the receipts! If somebody shows you that they are on a private plane, saying it’s their jet, ask for the tail number. When did you buy it? What year is it? How many hours are on it? People need to start asking for receipts. The so-called financial and real estate gurus–some very famous people by the way–who are giving advice on silver, gold, bitcoin. Ask them, how much bitcoin do you own? How much real estate do you own? People have been getting away with this for a long time. So, the way to break through and find out real from unreal, is to simply ask for transparency.

What do you like about the writing process?

I am the biggest beneficiary of the writing process. I get to clarify my own thinking and what I know and don’t know. I used to believe that people were financially illiterate. But in writing this book, I realized that we’re not. My mom was a single mother who saved money, and I always thought she was financially illiterate. But she wasn’t. She was indoctrinated to save money and focus on expenses, when the wealthy were focused on how to grow revenue and invest in assets. She was indoctrinated to save money and play it safe with the banks, when wealthy people were taking risks and never depending upon banks.

This is our holiday issue, so I have to ask. What’s your favourite holiday movie and song?

That one is easy, The Family Man with Nicholas Cage. And the song? Either White Christmas, or It’s Beginning to Look a Lot Like Christmas.

Do you ever come up to Canada?

I got my start in Canada! I’ve been to Nova Scotia, Winnipeg, Toronto, Hamilton, Saskatoon, Regina, Calgary, Banff, Vancouver… all across the country, love it there!

“You’re about to understand wealth and money (there is a difference between those two) using a process that took Grant over three decades to develop and perfect. Cardone will show you how to build wealth in all areas of your life; including money, notoriety, health and relationships.”

The book is available for purchase on www.amazon.com for kindle, and https://grantcardone.com/wealth as a hard copy.

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