Month: June 2016

The Millionaire Fastlane: Crack the Code to Wealth and Live Rich for a Lifetime

Book: The Millionaire Fastlane
Author: MJ DeMarco

Takeaway: Don’t be stuck in “The Slowlane”. Driving in the slowlane will seal your fate of financial mediocrity. Relying on a 401k, a good job and the stock market to build wealth
is an outdated plan that you are leaving to chance. The housing, stock and job market are unpredictable. None of these factors you will ever be in full control of. You need to create a “Fastlane” plan to wealth that you can control, leverage and scale quickly.

Car.

I loved this book. While the style of writing is a bit brash and in your face, I loved every second of it. MJ DeMarco really sticks it to you and makes valid points that the middleclass is in trouble. Leaving it to the stock market and other traditional investing platforms to build serious wealth is a flawed plan with mediocre return. Even if you do “get lucky” with these traditional investing platforms you won’t be able to enjoy the fruits of your labor until your well into your 50’s and that’s a best case scenario.

After reading this book, I realized I was driving in the “slowlane”. It was quite the kick in the ants that has fueled my fire to get in gear and drive like a maniac in the Fastlane. What’s the Fastlane you ask? The Fastlane is a where you have full control of your financial destiny. You are in business for yourself. You take massive imperfect action and you are relentless. You don’t really on one source of income to feed your family.

How can one achieve this? The method that MJ talked about that really resonated with my was his creation, usage and leverage of modern technology. It’s easier than ever to start a business and build income and revenue from the internet. MJ outlines a business model that I just started mimicking. The model revolves around internet lead generation. I won’t get into the super specifics but the model works because of a few key and critical factors; scalability, low overhead, can operate 24hrs a day and can leverage modern technology.

I would highly recommend this book to business owners everywhere and especially recent college grads. It is an updated modern approach on how to build a wealth and get out of the slowlane!

Secrets of the Millionaire Mind: Mastering the Inner Game of Wealth

Author: T. Harv Ecker.
Takeaway: It’s all about cleaning up your mindset, attitude and perspective around money. Harv’s point is driven home as he helps his readers understand that wealth and an abundance of money in one’s life is not bad or evil. He gives examples of how society views having wealth and money as something sinister. Many of us have been mentally conditioned from childhood that “money is the root of all evil” or “money can’t buy happiness”.
 
In the words of Mark Twain, I believe that “The lack of money is the root of all evil.” Ecker goes on throughout the book to change the reader’s mindset to mentally let go of the conditioned negative connotation that most of us have around it wealth.
 
As a child I fell into this category of thinking that those with an abundance of money were either doing something illegal or unethical to get it. I certainly had better morals than to lie, cheat and steal my way to the top of the financial ladder. My beloved grandmother, Rita, who helped raise me was very thrifty. Not until my early 30’s did I actualize realize the mindset and time period she grew up in formed her future outlook on money. You see, my grandmother survived two world wars, the great depression and decades of financial crisis. 1250514Rita’s mindset was to always save and spend little, as we never know what the next day can bring. These valuable principles were engraved in my head at an early age. I learned that money didn’t grow on trees and that it was always a better idea to save for a rainy day than spend frivolously.
 
After readings Secrets of the Millionaire Mind I was able to understand that the reason why a lot of people never get what they want is simply because they never knew what they truly wanted. They were sending mixed signals into the universe and what they truly felt about money. If you are not seriously committed to building wealth, then you won’t. To put it even more simply, where you put effort and energy will determine the results that are received. Change your outlook on wealth and money and change the abundance to which it will be attracted into your life.