So DeMarco wrote the title specifically so he could teach those people. They want to believe that success can be achieved overnight, or the YouTube preroll that promises if you give some stranger 15 seconds of your time, he will teach you the secret to unimaginable wealth via dropshipping. Most people, he says, echoing PT Barnum, are suckers. In the book, DeMarco explains his reasoning behind choosing a get-rich-quick sounding title. Leveraging time to work for you means identifying a way that you can earn money without using your time. This method involves starting a business in order to use leverage – not the “leverage” of consumers, who use debt – but the leverage of time and value. This, according to MJ, is the most attractive option for saving for retirement. Your entire plan is built on several assumptions that may or may not work out in the long run. Your employer’s pension could go bankrupt, leaving you without a steady stream of income. The stock market could be in a slump when you need to retire, giving you 50 percent or less of your intended retirement funds. This method of saving is full of inherent, hidden risk that you cannot control. The slow lane is usually considered to be a safe path to retirement,ĭeMarco, however, makes an excellent point. Driving in the slow laneĭrivers in this lane are old-school: They work the same job for four decades straight, max out their 401(k) with an employer match, and cross their fingers that by the time they are retirement age they will have enough to retire. Anyone is a “sidewalker” who is stuck in the consumption mindset, and who pays little attention to setting aside savings. It does not matter how much they make – whether it’s $30,000 a year or $300,000 a year. They consume movies, social media, television, electronics, cars, etc., without ever producing anything of value themselves. People who drive here live paycheck to paycheck they always spend whatever they have in their account, and borrow to spend even more. This is the most crowded lane on the way towards financial success – and it is also the “worst” lane to be in. Get the audiobook version of “The Millionaire Fastlane: Crack the Code to Wealth and Live Rich for a Lifetime” for FREE with Audible trial on Amazon today by clicking here!.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |