It is important to note that being a Sidewalker doesn’t mean that you are poor. More importantly, Sidewalkers live a life of instant gratification and they don’t plan for the long-term.īeing a Sidewalker is dangerous because external events such as job cuts, recessions, and interest rate hikes can be devastating for people who live from paycheck-to-paycheck. The Sidewalkers are people who are living well today at the expense of having more security tomorrow and their destination is being poor.Īs MJ explains, the Sidewalkers view debt as an asset and they value spending over saving. MJ also says that there are literally only three types of financial roads: the sidewalk, the Slowlane, and the Fastlane. Change can happen in an instant and wealth is created in an exponential manner, not linearly. And if you skip the process, you will never get to the event.īesides, MJ also writes that fame and physical talent are not prerequisite to wealth. People focus on events like selling their company or winning a big contract, but the real story is not the event, it is the process, the hard work, and the effort that makes those events possible. And it is the process that makes millionaires, not events. You have to understand that wealth is a formula, not an ingredient. The real golden years of your life are when you are young, vibrant with energy and sentient, not when you are old and have no energy to enjoy your wealth.
In the second part of the book, you will learn that why the old adage “get rich slow” is a losing game and it demands a long life of painful employment. PART 2: Wealth is Not a Road, But a Road Trip Just like the young MJ, he believed that he needed to be a famous athlete, a celebrity, an actor, or super talented in order to get rich. Most people have the wrong perception of wealth as in they believe that getting rich has something to do with talent and fame.
From then on, MJ began his search for the millionaire Fastlane method rather than buying into the ideas where people have to work hard for tens of years and save all their money to retire rich and old, he wanted to retire rich and young. He started to understand and exposed to the Fastlane. And that moment changed MJ’s life forever. What MJ did then was that he went up to the owner and asked that guy, “May I ask what you do for a living that allows you to afford such an awesome car?”Īnd the owner of the car responded, “I’m an inventor,” and drove away. As what most people believe, there is no way one can earn so much money at such a young age while still has the time and energy to enjoy life. MJ couldn’t believe his own eyes because he expected the owner of the car to be much older. Then, MJ saw the owner of the car walked over who looked like a 25-year-old dressed in blue jeans and an over-sized flannel shirt. He was awestruck because he liked that car so much and worshipped the car like a God. While he was out to buy his favorite ice-cream, he saw his dream car, a Lamborghini Countach. One day, MJ came across an incident that changed his life forever. MJ grew up in an ordinary neighborhood and he used to watch a lot TV. And like most kids these days, he is interested in video games and donuts more than sports chasing the girls. MJ DeMarco grew up in Chicago and he was a porky kid with only a few friends. PART 1: Wealth in a Wheelchair… “Get Rich Slow” is Get Rich Old
In this article, you will discover the summary of the book and some of the major and important points that MJ shares to his fellow readers. He defines what it means by becoming rich and his own concept of creating wealth, plus, MJ also shows you the path how you too, can retire rich and young. Overall, The Millionaire Fastlane is a book that focuses on the concept of getting rich quickly and the MJ also points out the major flaws with the old idea of “studying to get good grades in school, work hard, save money, and then retire rich” model. PART 4: Mediocrity: The Slowlane Roadmap.PART 2: Wealth is Not a Road, But a Road Trip.PART 1: Wealth in a Wheelchair… “Get Rich Slow” is Get Rich Old.
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