Recently I read The Millionaire Fastlane by MJ DeMarco and within this review, I am going to mention the main ideas of the book and my opinion on them.
MJ DeMarco, the author of the book, lives in Phoenix, he has retired and he became a millionaire when he sold his internet business.
However, he was not always successful. In the beginning of the book, he says that he was struggling for many years before becoming a millionaire.
His dream was to buy his own Lamborghini and after a quick conversation with a Lamborghini owner, he knew that he could achieve his dream while he is still young.
This is the main point of the book. You can become a millionaire before you get old. But it is not just a motivational book or a book about positive thinking like other “how to be rich” books.
No, MJ makes it clear that you can achieve it only if you follow the right way. What is the right way?
Just think for a moment that the process to become wealthy is a road trip. People make this trip in three ways.
- They never reach your destination or they don’t have a destination at all
- They drive slow and reach the destination when they are old
- They drive fast to reach their destination soon
Depending on people’s options MJ has created three categories:
1. The Sidewalkers
The sidewalkers are the people who will never reach their destination. When I read the book, I thought that sidewalkers are just the poor people but I was wrong. They can have really large incomes.
However, sidewalkers are one-something-from-broke. One business failure from broke, one movie failure from broke, one bad choice from broke, one unlucky event from broke. Usually, the one-something will happen.
Most people are sidewalkers because they do not have a financial plan for the future.
2. The Slowlaners
Slowlaners are the people who have a plan to become wealthy but they follow the slow way which is encouraged by the society and the most financial advisors.
With a few words, the slowlaners plan is to work hard, save money and one day, they may become rich. According to MJ, this way can work but when you will become rich, you will be too old to live the life you want.
The main issue of the Slowlaners is that they exchange time for money and they depend their wealth on factors they cannot control. The mindset of the slowlaners is the mediocrity. “Life is not great but it is not bad either.
3. The Fastlaners
The fastlaners drive fast to reach their destination which is the financial freedom. They do not exchange time for money but they build money making systems that can work for them.
To achieve that they need to change the way they think and act as individuals. You cannot be rich if you make the choices of a poor person. To learn these choices, you need to read the book but I can mention some of the thoughts you need to change.
Success is not an event
Sidewalkers think that success is an event. When they hear that a young man sold a company for millions or billions of dollars, they can see only the event. They cannot see the process and the hard work it takes to build a company that is worth so much money.
They see a world class athlete and they say, he is successful because he has talent. Again, they cannot see the hard work it takes to become a world-class athlete.
So, they think that successful people are lucky because they have a talent or an idea or something else. No, it is not the idea but the process. Most people have ideas every day but only a few of them will become millionaires.
Get rich quick is possible but not easy
There are many scams and schemes that promise quick riches. For this reason, most people think that getting rich quick is not possible. It is not true and there are many examples of people who became millionaires or billionaires from scratch at a young age.
Do you want a proof? Check this list of people who have become millionaires before they were 20.
Be a producer
MJ recommends building your own business, your own brand name. If you are on the top of the pyramid you can control every aspect of your business and financial growth.
Control is one of the five fastlane commandments you need to satisfy on your road trip to wealth.
Who Is The Millionaire Fastlane For?
If you feel you are a sidewalker or a slowlaner or for any reason, you are not on a fastlane road, this book could help you to discover a fast way to your destination, your financial freedom.
It is not a how-to book. Do not expect a step by step process or anything like that. MJ just shows you an alternative path from the ones that society and the people around you recommend.
To follow a fastlane lifestyle, you do not have to go to a college, have experience with business or any other requirement. Anyone can become a fastlaner if he is ready to change the way he thinks and act.
My Final Word On The Millionaire Fastlane
From my review, you have an idea of what you will read in the book. I just mention a few things on this article but there are more to see and learn.
After reading that book, you will also have a better understanding of what you are doing wrong or why the things do not work for you yet and hopefully, you will change them.
I definitely recommend it to anyone who has any type of business or wants to start one. Also, it could help people who need more money but they do not know how to get them.
If you have any questions or you have read the Millionaire Fastlane and you want to share your opinion, leave your comment below.