Having $1 Million Is 'As Close To Broke As You Can Get': Grant Cardone Gives Retirees A Harsh Reality Check

Grant Cardone argues that becoming a millionaire may not provide the financial freedom many people imagine. (Credit: Gage Skidmore | Wikimedia Commons)

In a declaration that has gained a divided reaction, businessman and financial influencer Grant Cardone said that anyone with $1 million right now is 'as close to broke as you can get'. Considering that a million dollars is widely viewed as a lot of money, many people are likely to disagree. However, the narrative changes when factors such as high inflation and an escalating cost of living are considered, making the Cardone Capital CEO's claim more understandable.

Cardone was asked to explain further what he meant when, despite having a million dollars, a person could still be considered close to broke. He was asked to elaborate on this during an appearance on The Iced Coffee Hour podcast hosted by Graham Stephan and Jack Selby. The financial influencer expounded on his point, detailing why having a regular source of income is essential and why it should not lead anyone into a false sense of security.