Building your wealth in a few years and enjoying it even in your youth is the best way to not give up quality of life, and still enjoy the money earned without having to wait years for that. This is the premise of "The Millionaire Fastlane", written by the author M. J. DeMarco.
For him, this is not a fixed path and there are no defined rules, but there is a way of thinking and acting that will define his mentality to get rich.
Want to know more? So continue reading this PocketBook and discover everything you need to start your journey towards wealth today and achieve financial success!
"The Millionaire Fastlane", written by M. J. DeMarco, talks about the secrets to overcoming the "get rich slow" mentality and take much more promising paths to wealth.
During this work, you will understand why simply working a lifetime and gathering 10% of what you earn each month until you retire and enjoy your small wealth is the worst way to strive for financial success.
Without recipes or empty advice, the book shows the true way to get rich in the short and medium terms and bear fruit of your success while still young.
J. DeMarco is an entrepreneur and author determined to deconstruct the idea of wealth we have today.
Throughout his youth, he had the dream of living without a boss and become rich, until he opened his eyes and saw the way he needed to follow.
"The Millionaire Fastlane" is his first bestseller, and it has won thousands of fans worldwide.
If you don't see the sense of professional success today, and want to live the results of your work not 40 years from now, but today, the book "The Millionaire Fastlane" is perfect for you!
No matter how old you are, whether you are a college student or an experienced professional, the book shows you how to build your wealth no matter where you are today.
Divided into 45 chapters, the book provides key insights for you to understand how to build your own path to becoming a millionaire. Want to find out what they are? Keep up with us and check it out!
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First, it is important to understand that the way they indicate to wealth and which is followed by all is the way of mediocrity. This process of going to school, getting outstanding grades, going to college, and getting a job right after graduating and raising money, doesn't work.
Through it, you may get rich... at age 65. That is, after spending 40 or 50 years devoting yourself and working, only later can you enjoy what you have built.
This is the whole path that the author calls "get rich slowly".
According to M. J. DeMarco in the book "The Millionaire Fastlane", following this path, which everyone does, is the same as being normal, and "normal" doesn't achieve anything special.
M. J. DeMarco says that the concept behind "get rich slowly" is actually very simple: sacrifice today, your energy, dreams, and desires, for the sake of maybe having some money in old age.
Is that really fair? According to the author, no!
The first thing you need to overcome is the myth that you can only enjoy wealth during old age.
According to the author M. J. DeMarco in his book "The Millionaire Fastlane", the Expressway is not always easy to find. He, in fact, spent years stagnant, jumping from business to business and failing in everyone.
He sold advertising services for websites, but no one bought them.
Then, according to him, he changed his mind and realized that to make real money, he had to sell the solution to a real problem, not sell his working hours for money.
M. J. DeMarco explains that he figured out he had found his own Expressway when he realized that he had been able to create a business that generated money 24 hours per day, 7days per week, without compromising his working hours.
That is, he didn't have to sell his working hours to make money. He created a structure that moved practically on its own, proposing a solution to a problem he had already identified in other companies.
To reach the Expressway, the author states in "The Millionaire Fastlane" that you need to keep in mind that you are not just following a road. You need to think of the road as a great trip that needs to be planned to work.
That is, what matters is not exactly the final destination, but the whole process of reaching and enjoying it.
Therefore, more than ever, you need to keep in mind that wealth is a great process. It is not simply about the final result, but a continuous construction.
According to M. J. DeMarco, there are 3 different maps and paths used by people to achieve financial success.
Those who follow this map spend their entire lives in poverty, even if they earn high wages. The person only cherishes today's pleasures, and doesn't think about the future.
If something unforeseen happens in that person's life, he or she goes bankrupt completely.
The way of the mediocre people. They know the importance of taking care of their own future, but they choose the slow path, the one followed by all, hoping to achieve wealth.
The least used route, perhaps riskier, but which guarantees high gains in the medium and long term.
M. J. says these 3 ways are a choice, and you can do them at any time in your life. Have you chosen yours?
But after all, what is the Fastlane? According to the author, more than a way to go, it is a lifestyle and a way of thinking about your business.
To follow this path, there are some key points:
Furthermore, M. J. DeMarco highlights another thing: getting rich quickly, which is a natural result of the Fastlane, is not the same as "getting rich easily."
Getting rich quickly has more to do with getting the right idea and selling it well. This doesn't mean that it will be an easy process and that there will be little work involved.
But in the long run, the initial work you did on developing the idea will yield good results and exponential wealth.
"The Millionaire Fastlane" tell us that, anyone who walks the Fastlane assumes himself/herself as someone who is willing to be creative and enterprising. You have to work, study and strive to become a visionary, and you will make money.
Chances are you see wealth as something which allows you to consume many products. Before that, start thinking otherwise: wealth as a construction work, as selling many products.
Instead of thinking of yourself as a consumer, build the mindset that you are a producer and always keep it in the foreground.
You have found a way but if you don't think it the right way, it may never really turn into a Fastlane.
To increase speed along this path, M. J. says you need to start thinking about the whole process strategically, like a chess game.
Each piece has a purpose, all equally important to ensure victory in the game.
Okay, you came up with the idea of a good solution that has market potential and can make you rich.
But this will only happen if you move the other pieces of the game. They are:
Using chess as a metaphor, the book "The Millionaire Fastlane" states that you need to lose the belief that the idea is the most important item in your business.
Although important, a good idea is worth nothing if not executed. A good idea is like pawns, giving more and more support to the king which is execution.
And the better it runs, the more valuable to the market your product will become.
Of course, business plans are important. Every planning process can prevent serious mistakes and even bankruptcy.
However, a still common mistake is to spend months or even years in the "planning" phase and never putting anything into practice.
More than that, as the writer, the business plan is even useless if it's not associated with the execution. Putting your ideas into practice as soon as possible, you find out faster what really works.
In other words, you'll be much better prepared to actually deliver an efficient product to your customers, and that's what matters after all.
Paulo Vieira, the author of the book, "Enrichment Factor" in free translation, says the enrichment journey is made up of peaks and valleys, so be prepared and willing not to stop midway. Remember that not giving up will make you a millionaire. Make yourself have a successful mindset, being able to see adversity and move on, doing what has to be done.
Lynda Gratton in "The 100 Year Life" says that for greater longevity, people must move from 3-stages in life - education, work, and retirement - to a multi-stage life. To have a life with multiple stages requires flexibility and change in the way time is used.
Long-term financial planning, with a belief in your skills and self-control is needed for a savings and investment plan.
And, Jill Schlesinger, author of "The Dumb Things Smart People Do With Their Money", states that people should not invest their money in what they don't know. You must have good planning and a thorough knowledge of where to invest. Also, it is important that the investment makes sense for your life purpose in some way.
To adopt the fastlane to wealth, you must follow the directions bellow from the book:
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