Grant Cardone

Grant Cardone, a private equity fund manager and real estate investor, believes that financial literacy is key for Americans to build wealth. Thats why Cardone has sent a proposal to the Trump campaign to implement a federal program, Financial Freedom for All, which would teach financial basics to all Americans.

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I think Donald Trump would welcome this conversation to say, Lets educate Americans about how to do with their money what successful, wealthy people and investors do with their money,' Cardone told GOBankingRates.

In addition to making financial literacy more accessible, Cardone believes there are some other key policy changes that Trump would implement that would improve Americans finances.

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Trump has spoken about wanting to lower taxes, which would not only mean more money in Americans pockets, but which also could have positive ripple effects.

He will lower taxes on all earners, and this means more money to spend and improve the GDP, Cardone said. He also would introduce or extend tax incentives, like accelerated depreciation for investments on major purchases, equipment, homes and businesses, which encourages investors to invest money, not take it off the board.

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With lower taxes and more tax incentives, more businesses would be able to afford to hire more domestic employees.

Anytime you provide tax incentives, youre going to encourage investing, Cardone said. This is the love language of a businessperson: lower taxes and higher incentives for me to take risks.

High interest rates have made it more expensive for Americans to take out mortgages, car loans and other forms of debt. Cardone believes a Trump presidency would mean a long-awaited drop in interest rates.

Trump will hammer the Fed for lower rates, Cardone said. If he doesnt get his way, he will try to collapse the Fed and make it part of his executive office. I think it is not a bad idea that the president would control the interest rates of a country, because we cant be competitive right now. Japan has a mortgage rate of 2.5%. Ours is 7.5%.

If interest rates are brought down, that would make it more affordable for Americans to take out a mortgage and buy a home.

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Cardone said, Trump would put pressure on the Fed to reduce rates and get them competitive again so people could actually afford a mortgage, which would be under 4% or 4.5% for a mortgage to be competitive with a rent.

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This article originally appeared on GOBankingRates.com: Grant Cardone: 4 Reasons a Trump Win Would Improve Americans Finances

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Grant Cardone: 4 Reasons a Trump Win Would Improve Americans Finances - Yahoo Finance