The Millionaire Fastlane by M.J. DeMarco is a wonderful book that changes your perspective about money. The author has offered great tips and valuable knowledge about wealth and success. It is a small guide for wannabe millionaires. This amazing book comes with wisdom & and strategies to achieve success. M.J. points out the flawed conventional system of 9 to 5 jobs. He shares formulas and concepts about business. He talks about the proper execution of plans, the traditional loop, and more.
- Overview of The Millionaire Fastlane
- The Three Wealth Roadmaps
- 1. The Sidewalk: Traditional Saving
- 2. The Slow Lane: Traditional Employment
- 3. The Fast Lane: Entrepreneurship & Investing
- The Vehicle to Wealth
- The Roads to Wealth
- Speed of Wealth Acceleration: Key Principles and Strategies
- The Millionaire Fastlane Quotes
- The Millionaire Fastlane Review
Overview of The Millionaire Fastlane
It is a marvelous self-help book by businessman M.J. DeMarco. Here, the financial freedom that M.J. is talking about is revealed through various secrets and tips that can create abundance. It’s not about money but our perspective towards it.
The Three Wealth Roadmaps
There are three roadmaps to wealth, only one and the other two are the maps to keep you away from poverty. The three roadmaps are the fast lane, the slow lane, and the sidewalks. While reading below, you will realize that the Fastlane is your desired road map.
1. The Sidewalk: Traditional Saving
People on the Sidewalk believe in remaining in the present and moving with the flow. They don’t save money and end up spending all they have for every day’s pleasure. They are often on the sidewalk, just one step away from coming on the roads. Sidewalkers love outcomes, but when it comes to putting in the effort, they back off! They often focus on luck and don’t take accountability because of their irresponsible behavior. They create trouble for everyone around them. Don’t be on the sidewalk!
2. The Slow Lane: Traditional Employment
The slow lane revolves around people who have a job & and work for 40 to 50 years. They save a little for retirement and hope to enjoy their old age. In simple terms, they live a mediocre life. People in the slow lane can be anybody, such as your office workers, employees in the bank, etc. DeMarco explains that one should not trade their time for money because time is precious, and there is no getting it back.
The advice to walk on the slow lane comes from those who have already walked on it. They feel this is a safe lane and offers suitable income, you get bread daily and a roof over your head! The money is not much, but you can live an affordable life. Sounds wonderful, right? Only to those who don’t dream big, right? People in slow lane are often employees who work under someone else. For me, the gamble to work under somebody and give up my dream choice just to live on bits is not worth it.
3. The Fast Lane: Entrepreneurship & Investing
People on the fast lane are successful entrepreneurs who do not follow the traditional approach. They do not trade time for money and often make smart choices. These planned plans help them to opt for early retirement. They earn the financial freedom to live their life the way they want gradually. Fast learners create their income, while slow learners get their income.
This is where M.J. reveals the secrets of being wealthy, and this is the most exciting part of the entire book. I mean, who doesn’t know the revealed secrets, the magicians being exposed? What M.J. described was simple psychology, he writes about being a producer instead of a consumer. Don’t be on the other side of the T.V. watching, be behind the commercial.
The Vehicle to Wealth
You handle the wheel, you know. This book’s part talks about developing the character and making the mandatory changes. Whether you want to move slowly or take a risk, it’s completely your call. People don’t choose their aim or purpose directly. They make decisions that help them get the results they want. The results can be above excellence or bad, depending on your choices.
He wrote about how people mask their problems & and do not cure the cause. Wearing expensive-looking clothes won’t make you rich. Why do people react immediately after having symptoms? Ask any doctor if having no symptoms means there is no illness. No, it is not! Aren’t you aware of asymptomatic issues? The disease he is talking about is poverty. Working extra hours to meet your regular expenses cannot change the fact that you do not earn well. Isn’t it good to have a stable source of income and live your life, not just survive?
The Roads to Wealth
According to M.J., becoming wealthy is like taking a trip. The road map is your compass, the vehicle is you, the roads are your finances, and the speed is how quickly you execute the idea. He also talks about NECST, these commandments will pave your road to wealth. According to M.J., there are 5 things that we need to consider to get on this road to wealth.
N- commandment if NEED- People need money to survive, fulfill your needs first. Earn enough to enjoy your passion without worry.
E- commandment of ENTRY- This commandment talks about not having to be a blind sheep and following what everybody is doing. If you follow everyone, you will be like everyone, not someone exceptional.
C- Commandment of Control- Don’t let anybody enter your car and take control of the driving seat. Workers are behind the creation of a company. However, you cannot give them control over your revenue and life.
S- commandment of Scale – Working on a large scale is more beneficial to yourself and society. Owning a single coffee shop in the local market will not generate a good income. But owning 20 shops in five different countries will.
T- commandment of Time- Time is precious, use it wisely. Imagine owning a coffee shop and looking forward to building a brand. Don’t spend millions on marketing, just make your local coffee shop go viral.
Speed of Wealth Acceleration: Key Principles and Strategies
This part is all about execution, some of the key principles are
- To accelerate your wealth, do not focus on building a business rather, build a brand.
- Only the one who influences CENTS can become successful. CENTS here denotes – CONTROL, ENTRY, NEED, TIME AND SCALE.
- Building wealth is a formula, a process. One does not get rich overnight.
- Without execution, ideas are worth nothing.
The Millionaire Fastlane Quotes
- “Poor financial management sounds like gambling, the house eventually wins.”
- “It’s not people choice to be poor. It’s their poor decisions that assemble eventually into a poorness puzzle.”
- “The extreme insanity cross all limits when you sell your soul Monday through Friday for the paycheck of weekend.”
- “You can actually look filthy rich and still continue riding the sidewalk dirty.”
- “Wealth isn’t embodied in a car but in the freedom to know you can buy it.”
- “To live unlike everyone else, you have to do what everyone else won’t.”
The Millionaire Fastlane Review
M.J. DeMarco is a fantastic author and a businessman. The reason behind the craze is the facts he laid out. M.J. says that traditional approaches will not make you wealthy. His experience and struggle in business are the framework of this book. For every individual wanting to start up, I highly recommend giving this book a few minutes of your time.
What is the Millionaire guideline?
Change your perspective to change your life. Become a producer, not a consumer.
What is the main point of the Millionaire Fastlane?
This book aims to make individuals aware of their potential. It’s to help them achieve financial freedom. It focuses on changing the traditional financial way and offers a new perspective.
What is the wealth formula for Millionaire Fastlane?
Wealth = Net profit + Asset Value
How to become a Millionaire fast?
Follow the CENTS rule and choose the Fast lane.
What are the 5 Commandments of Millionaire Fastlane?
N- commandment of NEED
E– commandment of entry
C– Commandment of control
S– Commandment of Scale
T– Commandment of Time
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