Grant Cardone Says Saving Money Is Useless: 'Banks Pay You 0% While They Lend Your Money To People Like Me'

Grant Cardone is once again calling out traditional money advice, and this time, he’s going straight for the idea of saving money.

“Stop savin’ money—it’s a doesn’t work,” Cardone posted on X on May 20. “Short of storing money in an account while it waits to be invest, saving money is not a plan to grow your wealth.”

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‘Banks Pay You 0%’

The real estate mogul and self-made millionaire didn't stop there. He said, “Banks pay you 0% while they lend your money to people like me.” His message is that putting money in a savings account isn’t going to build wealth. Instead, he pushes for investing in assets that “protect your capital, benefit from inflation and provide cash flow.”

Cardone often emphasizes that banks are not in the business of helping average people grow wealth. Instead, he argues they use depositors’ money to fund loans for entrepreneurs and investors—people like himself—who generate returns from those funds.

Targeting Ramsey, Wall Street, and the IRS

This isn’t the first time Cardone has dismissed saving as a viable strategy. In a Facebook Reel from April, he said, “Saving money is the most ridiculous concept. The only beneficiaries of saving money is the federal government, the IRS, and Wall Street.” 

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He also took aim at popular financial voices like Dave Ramsey and the banking industry, saying, “I know it’s promoted by Dave Ramsey and it’s promoted by the banks and the institutions because they’re going to tax you later.”

Inflation Eats Away at Savings

In a YouTube video posted last year, Cardone broke it down with a simple example: “If you had $100,000 in an account in 2020 and you kept $100,000 in that account in 2024, it will say $100,000 but it will only buy 75 grand. That’s inflation explained simply.”

He stressed that inflation silently reduces your purchasing power year after year. His solution is to “inflate your goals and targets now because if you don’t, you’re not going to catch up.”

Cardone frames financial success as a race against time and inflation. To stay ahead, he says people need to think bigger, earn more, and continually reinvest. 

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A Message That Breaks with Tradition

Cardone’s message cuts against the grain of conservative financial advice, which typically encourages saving, budgeting, and avoiding debt. Instead, he promotes a high-risk, high-reward approach that centers on earning, investing, and leveraging money for growth.

While critics argue his advice isn't suitable for everyone, especially those living paycheck to paycheck, Cardone remains firm and insists that saving alone is a losing game in today's economy, where inflation, taxes, and low interest rates can quietly drain your wealth.

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