How to Get Rich; Crack the Code to Wealth; Live Rich; Financial Independence #fqglamour

The Millionaire Fastlane is a drug to get you started on the Financial Independence, Retire Early (FIRE) movement via Entrepreneurship. Despite the cheesy title, this is not a book explaining the next Ponzi scheme neither a book on how to get-rich-quick easily. This book is about the principles on how to become a high-speed entrepreneur and craft a business to get you into the “Fastlane”.

The book has 322 pages and a total of 45 chapters. It is a super easy read. If I could summarize it, I would say that everything revolves around the following two core ideas:

The Three Financial Roadmaps to Wealth and that the only way to build wealth quickly (we are talking about 3 to 5 years) is by following the strategies of the third roadmap: The Fastlane.
The only way to get into the Fastlane is by being a producer: an entrepreneur, an innovator, a visionary, a creator. However, you can't just start any kind of business. You must start a business that respects what MJ DeMarco calls The Five Fastlane Commandments.
The Three Financial Roadmaps to Wealth
The three financial roadmaps to wealth are The Sidewalk, The Slowlane, and The Fastlane. Without even knowing, you are right now going down in one of the three paths. Each roadmap contains key mindsets that provide direction and guide actions within them. A few great examples of the distinctions are on how people in those different lanes percept Debt, their own Time, Education, Money, Wealth and Responsibility & Control.

The Sidewalk is poverty. You are on the sidewalk when you are living paycheck to paycheck. You don’t even know there is anything different other than the rat-race. All you have is debt in the bank. You give no value to your own time, and sometimes you spend hours in a line to get free samples, and you would drive for 2 hours to get a $20-dollars discount.
The Slowlane is mediocrity. You are on the slowlane when you are paying yourself first. You can save a percentage of your gross (pre-tax) and net (after-tax) income. You know you will only be able to enjoy life after your retirement at age 65. You believe that the only way to get rich is slowly relying on the stock market and the magic of the compound interest over many decades. You regret that you were unable to when you were 11 years old because that could have been the only chance for you to retire at age 45. You have a few thousand dollars in your 401k account along with a big mortgage that is going to take another 15 years to pay down. You know the value of your time, and you don’t waste it.
The Fastlane is wealth. You are on the fastlane when your sources of income and your lifestyle are characterized by maximum control and unlimited leverage. You don’t have your income attached to your time. You have full control of your wealth acceleration vehicles. You can build and grow your wealth without depending on Wall Street.
The law of effection states that the more lives you affect in an entity you control, in scale and/or magnitude, the richer you will become. In other words, if you want to make millions, you need to impact millions. The law of effection is not a theory; it's based on solid mathematical numbers.
#fqglamour