The Millionaire Fastlane: Crack the Code to Wealth and Live Rich for a Lifetime Author: MJ DeMarco | Language: English | ISBN:
B004BDOUAI | Format: PDF
The Millionaire Fastlane: Crack the Code to Wealth and Live Rich for a Lifetime Description
Has the "settle-for-less" financial plan become your plan for wealth? That plan sounds a little something like this:
"Graduate from college, get a good job, save 10% of your paycheck, buy a used car, cancel the movie channels, quit drinking expensive Starbucks mocha lattes, save and penny-pinch your life away, trust your life-savings to the stock market, and one day, when you are oh, say, 65 years old, you can retire rich."
Since you were old enough to hold a job, you've been hoodwinked to believe that wealth can be created by blindly trusting in the uncontrollable and unpredictable markets: the housing market, the stock market, and the job market. I call this soul-sucking, dream-stealing dogma "The Slowlane" - an impotent FINANCIAL GAMBLE that dubiously promises wealth in a wheelchair.
Accept the Slowlane as your financial roadmap and your financial future will blow carelessly asunder on a sailboat of HOPE: HOPE you can get a job and keep it, HOPE the stock market doesn't tank, HOPE the economy rebounds, HOPE, HOPE, and HOPE. Do you really want HOPE to be the centerpiece of your family's financial plan?
Drive the Slowlane road and you will find your life deteriorate into a miserable exhibition about what you cannot do, versus what you can. For those who don't want a lifetime subscription to "settle-for-less", there is an alternative; an expressway to extraordinary wealth capable of burning a trail to financial independence faster than any road out there. And shockingly, this road has nothing to do with jobs, 401(k), mutual funds, or a lifestyle of mediocrity.
Demand more. Change lanes and find your explosive wealth accelerator. Hit the Fastlane, crack the code to wealth, and find out how to live rich for a lifetime.
- File Size: 916 KB
- Print Length: 336 pages
- Simultaneous Device Usage: Unlimited
- Publisher: Viperion Publishing; 1 edition (January 4, 2011)
- Sold by: Amazon Digital Services, Inc.
- Language: English
- ASIN: B004BDOUAI
- Text-to-Speech: Enabled
X-Ray:
- Lending: Enabled
- Amazon Best Sellers Rank: #9,676 Paid in Kindle Store (See Top 100 Paid in Kindle Store)
- #6
in Kindle Store > Kindle eBooks > Business & Money > Entrepreneurship & Small Business > Small Business - #7
in Kindle Store > Kindle eBooks > Nonfiction > Professional & Technical > Accounting & Finance > Finance - #10
in Kindle Store > Kindle eBooks > Business & Money > Personal Finance
- #6
in Kindle Store > Kindle eBooks > Business & Money > Entrepreneurship & Small Business > Small Business - #7
in Kindle Store > Kindle eBooks > Nonfiction > Professional & Technical > Accounting & Finance > Finance - #10
in Kindle Store > Kindle eBooks > Business & Money > Personal Finance
This is an honest to goodness "Get Rich Quick" book. But you must understand two things. First quick is 5 to 10 years. Second quick does not mean easy. Most "Get Rich Quick" books or programs really scam people into believing there is a method to "Get Rich Easy". MJ DeMarco, the author, does an extremely good job of telling the truth about what it takes to really achieve wealth.
The book starts off by describing three different economic paths and most people follow one of these paths. The first path is the sidewalk where people are basically living from paycheck to paycheck. The second is what MJ calls the slow lane - work hard for forty to fifty years, dutifully save 10% or more in your 401K and retire with a modest sum. However there are many dangers with the slow lane method. It depends on everything going right for those 40 - 50 years - not a good bet.
Then there is the fast lane. Here you are in control of your destiny, you work extremely hard for 5 to 10 years in a business which has the chance to make big money and once you build the business to size, you have a liquidation event, generally a sale.
There is a lot of wisdom in what he says. Most people who start their own businesses violate the rules that MJ gives. Your business must fill a need. It cannot be what you love or what you are good at. The product/service must be of value in the market place. And you must be able to scale the business - either by providing massive value to a few people or providing good value to a large number of people.
You cannot scale a local sandwich shop. Any business that cannot be scaled is simply a job.
MJ takes good aim at MLM opportunities and any other "business" that you can enter by buying a $199 distributor kit.
Conclusion: Filler, buzzwords, personal anecdotes, emotional hooks about consumer goods = success. Cemented with the smallest amount of obvious and borrowed truth.
If you are looking for a practical book; THIS IS NOT IT. I read the first 20 chapters and not 1 piece of actionable information or steps to take... All it says is quit your job and start some awesome multi-million dollar business of some kind. Gee thanks, I'll get right on it.
EDIT: If you do want a practical book about retiring I very strongly suggest Early Retirement Extreme, and to a lesser extent, Your Money or You Life. These books will build the foundation success without the Hail Marys that make up the thesis of this alleged book.
If you do want such a book on the proper outlook, I strongly suggest 'Think and Grow Rich' by Napoleon Hill. It is the eloquent classic that this book (and nearly all others) fails to emulate. It is the original and definitive success book, all other "get rich" books borrow [and dilute] heavily from it.
The book is trash, I'm not sure what book the reviewers read. Or if they are real people/reviews.
CHAPTER SUMMARIES/NOTES:
Preface, mindless babble about his awesome Lamborghini... Cements the stupid road metaphor, which is never relented upon.
"So let me tell you about my reality. I live happily in a big house overlooking the mountains in beautiful Phoenix, Arizona. There are rooms in my house that I don't visit for weeks." Being mindlessly wasteful (and a douche) step 1 to getting your own Italian sports car.
Chapter 1:
"We're smart enough to know that wealthy 22-year-old kids don't get rich investing in mutual funds and stashing money in their 401(k)s from their job at the cell phone store." ...
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