What’s up? I’m super hyped today because I have started reading The Millionaire Fastlane by M.J. DeMarco and WOW! I have dreamed of being wealthy, I have studied to be affluent, and now it is my time to put in work.
Thank you Paul for the recommendation. MJ DeMarco is a graduate of Northern Illinois University with two business degrees, he is an accomplished author, multi-millionaire, and philanthropist.
This book is packed with an array of breakthrough information. Most of the knowledge is foreign to me so it feels like I am exploring a new world. This world is the good life – a life filled with health, wealth, family, and happiness.
Warning: This post is not for the light-hearted. This book is very blunt and brings a harsh and absolute (but in my opinion, much needed) realization to our current personal financial situation and our financial future.
What is truly remarkable about this book is that health, wisdom, and family are just as critical as money is to our realization of the good life, which DeMarco deems as The Fastlane.
In this post, I want to share 3 stellar ideas and a kick-ass video that I have used to jump start my application of this book!
Without further adieu, those 3 ideas are:
Idea #1 – Get Rich Slow is a LOSING game.
Earning money on a job, and saving a bit of every paycheck and investing in a 401k or a savings account or stocks & bonds is ultimately a losing game because you have no control or leverage in a job or in those methods of investment. Basically you are relying on hope to get wealthy, floating as a leaf in the pond of life while the pond ripples and you must inadvertently drift afloat.
The opposite of Get Rich Slow is the Fastlane where the business owner or investor has total control of their income and full leverage of when, where, how, and why they want to take an action to modify or improve their business.
In addition to providing this insight, DeMarco presents the idea below which destroys traditional beliefs on retirement:
Idea #2 – You Can Reinvent Retirement to Include Youth.
Who wants to be old as Christopher Columbus when you can finally enjoy your hard earned money?
Who wants to save for 20 years to finally to be able to afford the ultimate vacation or the luxury home of their dreams?
Our financial plans need 10xing (Grant Cardone). The goal should be to configure our plans for wealth so that we can enjoy our time and our money while we are the healthiest and most vibrant!
I am very grateful for this book as DeMarco inspires the reader to discover the road to wealth now while they are young and spry.
In wrap up, I’d like to present the third and final idea which is:
Idea #3 – Millionaires are forged by PROCESS not by EVENTS.
All this time I have been a bit frustrated with my progress. Of course I am grateful for the people and the blessings in my life, but I have often worried myself because I don’t see the big end result yet.
DeMarco is brilliant in this book, he clarifies that wealth is built through process (what you do daily, and what you don’t do daily). When this daily process is in alignment with the equation for wealth, you will be more likely and more able to take advantage of opportunities where the potential to exponentially increase your income is possible.
As I finish my discussion today, I am excited because now comes the real work! Every hour off of my day job I am taking MASSIVE action and this book is a great manual for motivation.
In just the first few chapters, this book has broken my border for traditional financial thoughts and being wealthy. I plan to continue reading this book and I will post back here with more nuggets of wisdom retrieved.
I am very thankful for your readership. In closing, I would like to leave you with this superstar video.
Warning: This video will appear to be lengthy to someone who is seeking the quick cliff notes, the instant gratification, however to someone who is reading or studying this book, this video is a great resource for extended study.
Have a wonderful day and please let me know how these ideas have impacted you – thank you!