Digital Social Hour: Elena Cardone's Wealth Secrets | Episode #912 Summary

Release Date: November 22, 2024

In episode #912 of Digital Social Hour, host Sean Kelly engages in an insightful and inspiring conversation with Elena Cardone, a renowned entrepreneur and advocate for women's financial independence. This episode delves deep into Elena's journey to wealth, her dedication to empowering women, and her strategic investment philosophies. Below is a comprehensive summary capturing the key discussions, insights, and conclusions from their dialogue.

1. Celebrating Women's Success: The 10X Ladies Event

Elena Cardone opens the discussion by highlighting the success of her recent event, 10X Ladies, which brought together a thousand women to inspire and educate them on achieving financial independence.

• Event Highlights: (01:04)
  "Last year, Vivek Ramaswamy showed up. No one knew who he was. This was before he did the presidential debate. But I also had Megyn Kelly, Venus Williams. So that was last year."

• Purpose of the Event: (02:13)
  "The point of this conference was really about bringing women together to support other women to reaching heightened levels of success and understanding financially how to do better for themselves and their families."

Elena emphasizes the importance of creating platforms where women can learn, network, and gain confidence in managing their finances. She underscores the statistics showing that women generally lag behind men in wages, negotiation skills, and investment knowledge, with about 80% of women's wealth being held in cash (02:19).

2. Financial Independence and Investment Philosophy

Elena shares her personal journey towards financial literacy and success, crediting her husband, Grant Cardone, as her greatest mentor.

• Learning from Grant Cardone: (03:18)
  "People over complicate it. There's only three things you need to know about money. You need to know how to earn it. You need to know how to store it... you can earn your way to rich, you can't earn your way to wealth."

• Investment in Cardone Capital: (05:24)
  "I wanted to invest in Cardone Capital with my money. And I have almost 4 million invested."

Elena outlines her strategy of investing in income-producing assets through Cardone Capital, explaining how refinancing properties can exponentially grow her wealth without continuously reinvesting earned income.

3. Balancing Family and Business

A significant portion of the conversation revolves around Elena's approach to family life, parenting, and maintaining a successful business partnership with Grant.

• Parenting Philosophy: (08:48)
  "In the next 25 years, women are going to inherit $9 trillion. So we've got to understand how not to just have cash and spend to zero, but we really have to understand investing and prolonging and protecting."

• Raising Responsible Children: (09:48)
  "My kids are extraordinary... they're on the right path... they're learning the business by their own origin."

Elena discusses the importance of instilling financial responsibility in her children, ensuring they understand the value of earning, saving, and investing. She shares anecdotes about her daughters actively contributing to Cardone Capital, demonstrating the effectiveness of her parenting approach.

4. Personal Transformation and Overcoming Challenges

Elena opens up about her past, including her rebellious teenage years, traumatic experiences, and the path she took to rebuild her self-esteem and financial acumen.

• Reinventing Herself: (16:30)
  "When I became a mother, there was a shift... I had to overcome a lot of mental challenges."

• Overcoming Adversity: (35:12)
  "At 14 years old, I witnessed my best friend burn in a fire... I started to just kind of self-medicate and not care whether I lived or not."

These personal stories highlight Elena's resilience and determination to transform her life, moving from a tumultuous past to becoming a pillar of strength and financial wisdom for women.

5. Maintaining Strong Values and Relationships

Elena emphasizes the importance of surrounding herself with like-minded individuals who uphold her values, particularly within her personal and professional circles.

• Protecting Her Inner Circle: (41:03)
  "I don't allow people to speak ill will of anyone in my crew. If they gossip, that's a problem."

• Staunch Beliefs: (43:16)
  "If you're not for empowering women... anti family, that's a problem to me."

Elena discusses her selective approach to friendships and business relationships, ensuring that her circle remains positive and aligned with her mission to empower women and protect family values.

6. Strategic Investment with Cardone Capital

A substantial portion of the episode is dedicated to Elena's investment strategies with Cardone Capital, illustrating how smart real estate investments can lead to substantial wealth growth.

• Investment Mechanism: (55:11)
  "What happens is, you refinance, you get your original investment back, and you can reinvest it into another asset that's paying you."

• Track Record: (56:41)
  "Our track record hasn't failed. Our deals are so good. Investors keep investing because of our great returns."

Elena explains the benefits of investing in real estate through income-producing assets, detailing how refinancing can provide liquidity for further investments while maintaining passive income streams.

7. Future Plans and Commitment to Empowerment

Towards the end of the episode, Elena outlines her future endeavors, including leading more 10X events and expanding the Grant Cardone Foundation to reach underserved communities.

• Expanding Outreach: (58:35)
  "I'm going to start taking the lead more on the Grant Cardone foundation because we want to get this information into all the underserved kids that don't have this environment to learn from."

• Promoting 10X Wealth Con: (58:55)
  "We have 10X Wealth Con coming up. 10xwealthcon.com."

Elena reaffirms her dedication to the 10X movement, aiming to provide education and opportunities for aspiring entrepreneurs and investors, especially women.

Notable Quotes

• On Starting Right: (01:08)
  "What if I just started off right? How great and how far could I go?"

• On Wealth vs. Riches: (03:18)
  "You can earn your way to rich, you can't earn your way to wealth."

• On Relationship Strength: (15:35)
  "If we did that, the haters that want to see us divorced, they would win. And I can't let them win."

• On Investment Strategy: (56:11)
  "Refinancing... is how I've become a multi millionaire."

Conclusion

Elena Cardone’s conversation with Sean Kelly offers a treasure trove of insights into building wealth, empowering women, and maintaining strong personal values amidst business successes. Her honest recounting of personal struggles and triumphs serves as an inspiration for listeners aiming to achieve financial independence and personal growth. Through strategic investments, unwavering commitment to her values, and a passion for empowering others, Elena embodies the essence of the 10X philosophy.

For those interested in following Elena's journey or participating in her investment opportunities, additional resources and event details are available through the 10X Wealth Con and Cardone Capital platforms.

Links and Resources:

• Cardone Capital: cardonecapital.com
• 10X Wealth Con: 10xwealthcon.com
• Grant Cardone Foundation: grantcardonefoundation.org (Note: Replace with actual URL if available)