Real estate investor Grant Cardone used to be in the middle class, but setting ambitious goals helped him become wealthy and accumulate many assets. The high-profile entrepreneur knows what it means to live paycheck to paycheck and doesn't endorse the lifestyle.
This past experience is part of the reason why Cardone doesn't believe that the middle class should be an aspiration. Instead, he's worried that the middle-class lifestyle can offer too much comfort that doesn't address underlying financial challenges.
"Comfort makes more prisoners than all the prisons combined," Cardone stated.
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His comment doesn't just apply to the middle class. It's also for anyone who has put their big goals on hold and opted to stay where they are. These are some of the takeaways from Cardone's message.
Raise Your Financial Goals
If you are feeling comfortable, you should immediately raise your financial goals. Instead of contributing 10% of every paycheck to your portfolio, you should raise it by at least 1% per year. Setting this challenge will help you sharpen your finances and regularly monitor your budget. A renewed focus on financial objectives can turn your budget into an area of focus instead of a fleeting thought.
Raising your financial goals can also translate into a higher income. Bigger goals may inspire you to pick up a side hustle, ask for a raise, or switch jobs. Job hopping is one of the best ways to boost your income in the long run. You can grow your income much faster than 3% per year if you pursue this route.
Cardone set ambitious goals early in his life. He's had the goal of being a billionaire for many years, and that type of goal can result in massive action. You'll feel more alive and empowered if you're pursuing a goal like having a $1 billion net worth compared to only aiming for a $100,000 net worth.
Being Uncomfortable Is The Only Way To Grow
Growth occurs outside of the comfort zone. If you want to get muscles, you have to do regular workouts so your body can adapt, rest, and improve. You won't achieve your fitness goals by sitting on the couch all day, and the same logic applies to any goals in your life.
If you want to be a millionaire, you can't waste money on your credit card. Furthermore, you have to invest a higher percentage of every paycheck and commit to long-term goals. It's not easy to pursue big goals, but it's incredibly rewarding once you have achieved them.
Being comfortable feels easier at the moment, but people don't recognize the imprisonment of comfort until their negative habits have compounded over several months or years. It's easier not to do an extra side hustle, but you may have a smaller nest egg when you are in your 60s. Some people don't think about saving money and find themselves financially vulnerable when they reach their retirement years.
See Also: If You're Age 35, 50, or 60: Here’s How Much You Should Have Saved Vs. Invested By Now
Change Your Environment
Getting out of your comfort zone may require changing your environment. You may have to move out of your hometown, make new friends, or join better online communities. Cardone left Louisiana for California to expand his horizons and get out of a familiar environment.
He moved from San Diego to Los Angeles when he felt like he was getting too comfortable. Then, he made another move from Los Angeles to Miami when he felt like he was getting too comfortable again.
Changing your environment will introduce you to new people, goals, and ideas. If you surround yourself with ambitious individuals, you may set more daring goals that require you to step out of your comfort zone more often. It's hard in the short run to step out of your comfort zone, but it's immensely rewarding in the long run. Staying out of your comfort zone beats dwelling in a prison without bars.
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