The Millionaire Fastlane.

[The Big Daddy C-Master]

This is probably my favorite book about the approach to great riches. It gets to the point and doesn't try to sugar coat it while also giving some detailed information.

I'm going to write a more detailed summary of it later and answer some questions. I just made this hear to kick things off.

[JACK-2]

Looking forward to reading the review.

[The Big Daddy C-Master]

Sure and if you have any questions about any of the concepts, let me know.

[The Big Daddy C-Master]

The book starts out about a man explaining wealth and how people can accumulate it and the best path to take to get there. He does an autobiographical account of his own path getting there with his trials and tribulations along the way.

He discusses the sidewalk, the slow lane, and the fast lane. He explains the differences in the mindsets and personalities of the people and how they end up where they go.

The side-walker is basically a person with a poverty mindset. They're the kind of person who hopes for the government or God to take care of them. The kind of person who blows everything they have, gambles on the lottery, buys scratch-off tickets and doesn't save and invest for the future. This is the kind of person who lives day by day with no plan at all and sabotages their future by having kids too young or a myriad of other things.

This is what I grew up around. Many of my family are exactly like this so it struck home with me. Live for today and don't plan for tomorrow and then resent others who accomplish it. People like this also hope and wish for something big to happen, like becoming a major athlete or something of the sort.

The slow laner is your basic "average Joe" middle class type individual. This is the person who works the 9-5 and follows the school, college, job, wife, kids mantra and expects to save for retirement with a guaranteed "secure" plan. For the slow laner it's all about security. This hurts them because they have slow wealth accumulation and can't effectively handle a downturn if the economy goes bad (which will almost certainly happen in the time span from a person's twenties until their seventies when they retire). These people trade their time and labor for money but can't accumulate wealth this way as they can only do so much in a day as they are constrained by time. They also end up being a cog in a machine making someone else rich. They essentially trade freedom for security and really get neither.

I know many people like this and I'm sure you do to. Many might still be at t his step in their lives.

The fast laner is a person who maximizes their time and uses their ideas along with leverage and creativity to catapult them to wealth and freedom. This individual understands that hoping for the best and going to a job is not the best way to make it for the life they want to live. They also understand how to make wealth multiply and they want to enjoy their wealth when they're young. A major part of this book is going against the "millionaire next door" mentality of becoming rich by being cheap. Time is crucial to a fast lane lifestyle since you want to enjoy your wealth when you are young and healthy. The book goes against the idea of being rich and very old. Most financial gurus tell you to just put money away into "safe" investments until you're old. This book strongly disagrees.

Later on the book gets into scale vs magnitude, different types of avenues and distribution systems and the advantage and disadvantages of each. It also gets into how investing works for the rich and how leverage works in the financial industry. All aimed at teaching people to get rich fast, but not through a scheme. It even covers network marketing and how that works.

I definitely recommend this book for people who are interested in this subject, and it is a good read regardless to train your mindset. If you want success I'd suggest you pick this up. Why spend life in the slow lane when you can spend it in the fast lane?

Verdict: Strongly recommended.

[JACK-2]

So, it encourages fast accumulation wealth rather than a more gradual and slow process? What does it say about becoming a billionaire or is it the same principle?

[The Big Daddy C-Master]

Jul 30, 2016 13:10:59 GMT -5 JACK-2 said:

So, it encourages fast accumulation wealth rather than a more gradual and slow process? What does it say about becoming a billionaire or is it the same principle?

It's the same principle but magnified. It makes a distinct difference between the poverty mentality, getting by slowly (Millionaire next door), and getting rich fast, but in a legitimate manner without being an athlete, entertainer, etc.