The Millionaire Fastlane

The Millionaire Fastlane points out what’s wrong with the old get a degree, get a job, work hard, retire rich model, defines wealth in a new way, and shows you the path to retiring young.

When you hear the word wealth you probably imagine Scrooge McDuck swimming around in his vast sea of gold coins.

However, DeMarco came up with his own definition of wealth, which isn’t really about money.

He says wealth includes 3 things:

Meaningful relationships with friends and family Being healthy and physically fit Freedom

Number 3 is where the money comes in.

While money can only help you so much in building better relationships with your loved ones or transforming your body from unhealthy to top shape, money can buy you unlimited amounts of freedom.

The freedom to live where you want, eat what you want, travel where and when you want and follow all of your hobbies with a passion, even if they’re really expensive.

Since you don’t have to trade your time for money any longer, you can now spend it as you wish and that’s really what wealth is all about.

Okay, but how do you stop trading your time for money?

To make your income independent from your time, you have to unlink it from the hours you put into work. This doesn’t have to happen in one go where you become an “overnight success”, but can be a gradual process.

For example J.K. Rowling put in years of time before publishing even the first Harry Potter book, but with each new book she continued to receive royalties, increasing her income without her having to put in more time, since that book was finished.

The truth is, even the most miraculous exits, where 15-year olds sell their app to Yahoo for millions, require years of work and very often the company owners have already become rich in the process.

The fastlane might be fast, but it’s not a shortcut. There are no shortcuts. You have to build a great product or company that starts to produce passive income, even when you’re sleeping.

Exit or not, that’s the way to become rich and retire young.

I really like MJ DeMarco’s message. It feels real, down to earth, and not blown out of proportion. He struggled for years until he found the right business, eventually sold his, bought it back and sold it again years later. But he never gave up. He kept creating, producing, having fun and eventually reaped the rewards. If you’re looking for motivation, inspiration and a few good starting points for seizing control of your own life, The Millionaire Fastlane is a great start. It’s an entirely different mindset from…