The Millionaire Fastlane

MJ DeMarco

The Millionaire Fastlane

18min

18min

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Financially speaking, people generally follow one of two paths: the road to poverty, where they live for immediate gratification to the detriment of their future, or the road to mediocrity, where they sacrifice their today for a better tomorrow. However, there is also another way: the fast lane to wealth, which allows us to live a rich and free life, without having to wait for retirement. The Millionaire Fastlane shows us the path to wealth, and explains how we can retire in 10 years instead of 40. In order to do this, we need to create a business of our own, one which does not dictate our earnings based on how many hours we work, which has a significant impact on many people’s lives, and generates a passive income.

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Analysis and key concepts

01.

True wealth is made up of three fundamental aspects: family, fitness, and freedom. Money can increase our wealth by enhancing these aspects, especially freedom

02.

Wealth is a road trip: we cannot skip the journey and get straight to our destination

03.

The sidewalk roadmap is the path to poverty, where people live for instant gratification without thinking of the future

04.

The slow lane to mediocrity is based on work, savings, and investment, and sacrificing today in the hope of a better tomorrow

05.

The fast lane to wealth is based on ‘controllable unlimited leverage’, which encourages rapid wealth creation through a passive income stream

06.

The five ‘commandments’ for starting a business that will make us rich: control, entry, need, time, and scale

07.

Quotes

08.

Take-home message

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Many useful tips to:

  • Redefine our concept of wealth.
  • Discover why a high salary won’t necessarily make us rich.
  • Learn the secrets of the most profitable businesses.
  • Discover how to retire young.

MJ DeMarco was born in Chicago, Illinois, and is a classic self-made man. He has been called “the man who shows normal people the road to financial freedom”, and uses his own particular motivational style when he writes, insofar as his books are the written equivalent of a coach. His own model of personal development teaches people to launch an entrepreneurial career geared to reaping dividends in a short period of time. He lives in Phoenix, Arizona, where he nurtures his passion for sports cars, fitness and financial freedom.

Publishing house:

Viperion Corporation

Year:

2011

Pages:

334

ISBN:

978-0984358106