Follow Me As I Pursue My Dream Of Financial Independence
My Thoughts on the “Millionaire Fastlane” Book
I recently ordered and received a copy of “The Millionaire Fastlane” by MJ DeMarco. This was highly recommended to me by a colleague, and it is not disappointing so far.
The First Half
I’m about halfway through so far and I have to say, Part 4, the part about the Slowlane, sums up so many things I’ve always thought to be true about life. MJ is brilliant in these few chapters of the book. It’s finally great to have many of these things I’ve believed confirmed by someone with authority.
In fact, when I look back at my About page, that I wrote a few months ago, it’s like MJ was reading my mind (MJ, if you ever read this, no royalties are needed for stealing my thoughts .
But seriously, it’s like I’m reading what I’ve been thinking for years. This book has got me re-thinking the way I look at life. In fact, reading this makes me feel liberated. It makes me not feel guilty for rejecting society’s Slowlane plan.
Even when MJ discusses the rare success stories of the Slowlane, I have never really seen those people as true success stories. Especially those who “climb the corporate ladder.” These are your CEOs and corporate managers who are wealthy, but basically trade their life for their job.
I always get a kick out of these guys or gals that run successful companies on the “Secret Millionaire” TV show. The biggest lesson many of these people learn is how much they are missing out on the more important aspects of life (time spent with family). But then they turn around and give their employees promotions to management positions that will require them to spend more time away from their families, so they can climb the same corporate ladder.
I also find his breakdown of Dave Ramsey and Suze Orman’s teachings interesting. I’ve always respected Dave Ramsey and still do. I think much of what Dave teaches is true and has been proven over and over again to be effective for people who lack financial responsibility in terms of day-to-day budgeting, hazardous financial behaviors.
But I do agree with MJ that Dave’s Slowlane strategies should be accompanied with a Fastlane strategy if you ever want to escape the rat race before you are in your twilight years.
Can’t wait to read the next half of the book where MJ goes into detail about the Fastlane. I’ll update this review when I’m done.
There is just too much good info in this book to really get into it all on here. Put simply…just go get the book!
I will sum up what I’m learning in bullet points.
- Your wealth is determined by how many people you help.
- “Do what you love, and the money will follow” is poor advice.
- Ideas don’t mean anything, EXECUTION means everything.
- Stop chasing money and do what ATTRACTS money.
And so, so, so much more. There’s just too much good advice. And the points I just made may seem like common sense, but I’ve never really read or been taught these things before.
I’ve always been in it for me. Honestly, when I was running my baseball site, I wasn’t looking at the whole picture of how valuable my site looked from the visitor perspective. I mean, if I didn’t think an article could make me money, I didn’t write it (even if the visitor could have benefited from it).
I have no doubt that is why my site failed. Google got smarter, picked up on those visitor response indicators and decided it didn’t provide VALUE.
I think the most important lesson I’ve learned from the book is to stop chasing money and focus on what creates value for others. That’s the mission now.
P.S. Get the book!