Ideas from books, articles & podcasts.
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An excellent book on how to create insane wealth and live a great life. M. J. Demarco shares the secret to becoming a millionaire at any age. And it is not the kind of advice you receive from financial gurus, parents, or friends.
by MJ DeMarco
The Fastlane is a state of wealth that is characterized by abundance. In the Fastlane, you don’t trade your time for money and are in complete control of all the wealth-generating factors.
The Fastlane lifestyle is for the people who want to retire young and don’t want to ...
The get rich slow strategy that is championed by society is a losing game. It is anchored on your time, assumes that everything will go according to plan, and doesn’t involve getting rich at a young age.
If you want to get rich, take the Fastlane road.
True wealth is authored by three...
The roadmap to wealth is made up of four key ingredients:
"The ultimate insanity is to sell your soul Monday through Friday for the paycheck of Saturday and Sunday. Yes, give me $5 today and in return I’ll give you $2 back tomorrow. 5-for-2. No? Why? This is a smoking Deal!"
"Somebody should tell us, right at the start of our lives, that we are dying. Then we might live life to the limit, every minute of every day. Do it! I say. Whatever you want to do, do it now. There are only so many tomorrows."
The Fastlane mindset:
The Fastlane is a business system while the Slowlane is a job. In the Slowlane, you trade your time for your employer’s cash while in the Fastlane, wealth is driven by a business system.
The Fastlane wealth equation looks like this:
Wealth = Net Profit + Asset Value
"Instead of digging for gold, sell shovels. Instead of taking a class, offer a class. Instead of borrowing money, lend it. Instead of taking a job, hire for jobs. Instead of taking a mortgage, hold a mortgage. Break free from consumption, switch sides, and reorient to the world as producer."
The more lives you affect in an entity you control, in scale or in magnitude, the richer you become.
To exploit the Law of Effection, your business needs to make an impact of either scale or magnitude, or both.
Within our Fastlane wealth equation, “scale” and “magni...
1. Worse Case Consequence Analysis (WCCA). Analyse potential consequences before making a decision.
2. Weighted Average Decision Matrix (WADM). Weigh the various decisions and see which one is better.
The Fastlane is a conglomeration of information that creates potential speed. You understand the Fastlane roadmap and its wealth equation. You’ve dumped the Sidewalk and the Slowlane.
Ideas are nothing without execution. Execution divides winners from losers. Execution is a...
created 16 ideas
Go to school, get good grades, graduate, get a good job, save 10%, invest in the stock market…then, someday, when you are, oh, 65 years old, you will be rich but you can’t enjoy at that age…
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