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Lewis HowesThe NO BS Guide To Making $10 MILLION In 10 Years (Do This Now) | Grant Cardone & Lewis Howes
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Chapter summaries
Reconnecting after 14 years: the challenge that took Grant from $100M to $1B
Lewis Howes and Grant Cardone reflect on knowing each other for 14 years and Grant’s early days on social media around age 50. Grant recounts a prior interview where Lewis challenged him to think bigger—moving from a $100 million deal mindset to pursuing a billion.
- •Lewis recalls meeting Grant when he was newly active on social media and still rebuilding confidence after the recession
- •Grant says he was “almost broke” emotionally (fearful) even if he had assets like a house and cars
- •Grant credits a past Lewis challenge (“why not a billion?”) as a question that kept pushing him after the interview
- •Grant says the bigger target helped him achieve a billion-level outcome the following year
Why wealth is a people game: saying yes, meeting more people, and building real wealth
Grant explains that wealth isn’t just money or possessions—it’s also relationships and the ability to add people into your life. He describes why he says yes to most invitations and how connection creates opportunity.
- •Grant argues “real wealth” requires going outward and adding people, not isolating with money
- •He says he says yes to interviews and opportunities because each one adds connection and experience
- •Grant admits he often feels uncomfortable at events, but sees value in being a participant and learning
- •He emphasizes that all wealth flows through people, not ideas alone
Inflation, spending behavior, and contrarian views on the economy
Lewis asks about fear around banks, inflation, and recession. Grant offers a contrarian framing: he calls inflation a “boogeyman,” argues consumer behavior drives price dynamics, and claims markets respond when consumers refuse overpriced goods.
- •Grant says inflation is misunderstood and argues you want values of products to rise if you’re a producer/investor
- •He frames inflation as tied to demand and consumer choices—if prices are too high, consumers can stop buying
- •Grant attributes price spikes to distribution issues and consumers paying premiums for scarce items
- •He criticizes raising interest rates as hurting the middle class more than solving underlying problems
Banking instability and the “inside game”: deposits, regional banks, and too-big-to-fail power
Grant describes how rising yields pull deposits from smaller banks and why that constrains lending. He argues big institutions get protected and win “inside deals,” while regional banks are essential for everyday lending needs.
- •Grant explains deposit flight: people move money from low-yield bank accounts to higher-yield instruments
- •He says banks are risky and claims many are effectively insolvent but will be backstopped by government
- •Grant names major banks as “too big to fail” and argues their collapse would threaten the whole system
- •He warns losing regional banks would make access to loans harder—especially for those already overlooked
Escaping the middle class mindset: what Grant says not to do on the come-up
Lewis asks what middle-class people should change. Grant lists “nevers” for the wealth-building phase, emphasizing investing surplus income, prioritizing tax-advantaged assets, and rejecting common advice like saving, diversification, and certain retirement vehicles.
- •Grant says not to borrow money for college and questions whether the payoff is worth lost time and income
- •He says on the come-up you shouldn’t buy a home with debt, and shouldn’t spend income upgrading lifestyle
- •Grant argues people shouldn’t save money, shouldn’t diversify, and shouldn’t rely on ETFs/mutual funds
- •He claims real estate is a primary vehicle for tax write-offs and wealth building
Why Grant favors big positions, partners, and raising money—and how he views trends like AI
Grant contrasts what he says major players do versus what everyday investors are told to do. He argues wealthy operators concentrate bets, raise money with partners, and avoid chasing trends; he calls AI a trend many will overcommit to.
- •Grant says major players take concentrated, long-term positions rather than diversifying broadly
- •He emphasizes partnering and raising money as a core strategy the middle class often avoids
- •On AI, he says he experiments with it as a tool but believes many will overinvest expecting it to solve everything
- •He argues big winners tend to be major insiders and large institutions, reinforcing the need to “get big”
Getting into higher rooms: crafting your pitch, overcoming awkwardness, and relationship-based value
Grant shares how attending a high-level conference forced him to craft a clear personal pitch. Lewis adds his own approach to networking: being interested, asking questions, and solving problems through introductions and value creation.
- •Grant describes feeling awkward in elite rooms and realizing “I do a lot of things” was a weak opener
- •He details the pitch he crafted to explain his current roles (fund management, education/incubator, health business)
- •Lewis explains how he learned networking by repeatedly entering rooms, being curious, and helping others solve pain points
- •Both stress that preparation and relationship-building determine whether opportunity follows
Thinking 100X bigger: studying $100B players, legacy ambitions, and the tension with spirituality
Grant reflects on what he’d tell his 50-year-old self: he believes he was still thinking too small. He says he should have studied the biggest operators and how they actually behave, while also exploring how wealth and spirituality can coexist through helping others.
- •Grant says the concept should have been “100X” in his mind, but he chose “10X” because it was more digestible
- •He argues thinking bigger forces more action; thinking smaller limits action and outcomes
- •Grant says he should have studied $100B businesses and leaders’ real actions, not public interview talk
- •He contrasts pure money-pushing environments with his desire to create value by helping large numbers of people
From $4B to $40B: targets, math, the ‘who’ to meet, and buying instead of building
Lewis presses Grant on what it would take to scale from $4 billion to $40 billion. Grant lays out a framework: pick a clear target, do the math, identify the people needed, and pursue acquisitions—especially during downturns—rather than starting from scratch.
- •Grant says scaling starts with a clear target and a math breakdown into achievable deal structures
- •He predicts more contraction in commercial real estate, more bankruptcies, unemployment spikes, and more bank failures
- •Grant emphasizes the “who” over the “what,” saying deals come through people and connectors, not just ideas
- •He advocates buying businesses/assets and then building them, rather than starting new small businesses
The 10-year wealth framework: invest surplus, hunt a number, and automate income
Grant outlines how someone could build wealth over a decade by targeting top-tier income and systematically breaking it into smaller math units. He emphasizes not improving lifestyle, investing the surplus consistently, and building income that continues without trading time directly.
- •Grant says for 10 years, avoid lifestyle upgrades if the goal is to get rich, and invest the surplus monthly
- •He sets an example target of top 1% income and breaks it down into monthly/daily/minute math
- •He reframes wealth-building as “hunting a number,” then backing into who and marketing needed to reach people
- •He stresses building assets so investment income eventually matches earned income and replaces it when earning power declines
The dark side of wealth and what rich people forget: responsibility, loneliness, and perspective gaps
Lewis asks about the downside of extreme wealth. Grant discusses responsibility, public criticism, loneliness, aging, and the amplifying effects of money on unhealthy behaviors and relationships, plus how wealthy people can lose perspective about what’s easy for others.
- •Grant says wealth brings more responsibility and the fear of “screwing it up,” affecting many employees
- •He notes resentment and projections toward rich people, plus personal moments where purchases feel empty if unused
- •He describes how wealth can intensify addictions, unethical behavior, and the “yes men” dynamic
- •He argues some wealthy people forget barriers others face—like negotiating with banks or lacking emergency savings
Teaching money at home: kids, allowances, investing, and emotional honesty about money
Grant shares how he teaches his kids practical money skills, including reviewing bills, asking for corrections, and understanding tipping and leverage. He argues against allowances, instead paying children as employees and investing the money so they live on distributions, while also addressing money secrecy and beliefs.
- •Grant describes teaching his daughter to review checks, challenge incorrect charges, and handle tipping strategically
- •He says his kids don’t get allowances; they work for the company, are paid annually, and funds are invested
- •He outlines three lessons for kids: money is a people game, don’t lose capital, and invest where capital isn’t lost
- •On emotions, he says secrecy creates problems; he recommends inventorying money and beliefs, and not tying money to happiness
Happiness, time, legacy, and relationships: what matters now and why scale increases influence
Lewis explores Grant’s relationship to happiness and what he wants more of. Grant emphasizes time, health, people he enjoys, contribution, and legacy—wanting his name and work to remain relevant far beyond his lifetime.
- •Grant says money doesn’t make him happy; he measures targets, accomplishments, and who he helps rather than happiness
- •He says he wants more time, more health, and to avoid being around people he dislikes or sees as inauthentic
- •Grant explains wanting scale because it increases influence—education and other systems can be impacted at higher levels
- •He shares legacy motivation tied to how quickly people are forgotten after death and his desire for long-term relevance
Marriage and money dynamics: separate accounts, appreciation, and choosing the right partner
Grant describes how he and his wife handle money with separate accounts and clear roles. He ends by stressing the importance of the right partner and what signaled to him that he had one—gratitude, respect, and shared ambition.
- •Grant says they keep separate accounts so each manages their own money and behaviors stay visible
- •He says he pays the bills and makes decisions around shared financial direction while she contributes through the company
- •He credits her with thinking bigger than he does and says Cardone Capital was her idea
- •He says the most important thing is choosing the right partner and highlights appreciation as a key indicator
Closing warning and opportunity: preparing for a coming crisis and avoiding surprise
In his final message, Grant frames an impending crisis as a major opportunity, while warning it will be ugly. He urges being prepared, surrounding yourself with strong people, and distinguishing assets from liabilities so you can act rather than panic.
- •Grant says a crisis is an opportunity and expects a major opportunity period ahead in his lifetime
- •He warns of more bank failures and a painful period for Wall Street, telling listeners not to be surprised
- •He emphasizes having great people around you who are ready and aligned
- •He suggests reviewing finances to identify liabilities to remove and preparing for difficult conditions
