If you’re bound and determined to become a millionaire by a certain age, chances are good you won’t be able to do it alone. One of the most interesting books on how to become a millionaire is The Millionaire Fastlane, written by MJ DeMarco, and perhaps the biggest reasons it is so good is that there isn’t a lot of “fluff” in it.
Instead, it cuts to the chase and provides practical, hands-on solutions to greatly improving your finances. In fact, you can think of this book – formerly titled The Millionaire Fastlane: Crack the Code to Wealth and Live Rich for a Lifetime – as an instruction guide that gets to the point quickly and provides you with the tips and suggestions that can make you rich quickly.
Can The Millionaire Fastlane make you rich? Absolutely. But you’ll have to paradigm shift yourself from consumer to producer and that is no easy feat. Read on to find out more.
Wealth Is Not an Event
Some people think of wealth as an event, but DeMarco explains that instead, wealth is a process. It may seem that millionaires got that way overnight, but this is rarely the case. If you think of wealth as a journey, you’ll realize that each day is just a moment in that journey, and this thought process can help you determine what you should do next to achieve your financial goals.
In addition, DeMarco explains a formula he devised that is separated into four aspects:
- The roadmap
- The vehicle
- The roads
- The speed
There are also three roads in the third aspect: the sidewalk, the slowlane, and the fastlane. As DeMarco explains it, most people take the first road – the sidewalk – because it is the path of least resistance. People taking the sidewalk never attain wealth or real freedom because they’re doing what most other people are doing, which doesn’t work when your goal is to become rich.
Only people who follow the fastlane are able to attain that wealth status that so many of us dream about but which most of us don’t have the desire or the knowledge to do anything about. DeMarco goes on to explain that to make a lot of money, people need two things: control and leverage. If you start your own business, this often leads to people making a lot of money, but since not all businesses are created equally, there’s a lot more to the solution than that.
What Makes the Fastlane So Special?
DeMarco’s book goes into a lot of detail on the five business systems that can help you achieve wealth in the fastlane. He also details the important objectives that all people in the fastlane have, as well as the fastlane “commandments,” which he lists as need, entry, control, scale, and time. Some of the more interesting and fascinating thoughts and mindsets in his book include:
- Success is never about an idea; it’s about the execution.
- Time is the greatest asset you own – not money.
- Luck is created by increased probabilities that are improved with the process of action.
- To pay yourself first, you must own yourself.
Do some of these thoughts and concepts sound a little complicated? Well, the way DeMarco explains them, they aren’t. In fact, the book is such an easy and interesting read that you’ll likely be thinking to yourself, “gee, I never thought about it like that,” numerous times as you read it!
Breaking the Mold and Shattering Stereotypes
A lot of people are raised to get a college degree, get a job, work hard, and retire rich, but for most people, this formula simply doesn’t work. DeMarco developed his ideas after seeing a Lamborghini and falling in love with it, then realizing he didn’t want to wait until he retired rich at 70 to have what he truly wanted in life right then.
Instead, he changed his way of thinking and retired a multi-millionaire at the age of 33. So, when you read this book, you’re not learning from someone just spouting off ideas he’s heard from other people. He was very successful financially, and now he’s determined to show others how to get the same thing.
I’ve always loved books that are written to help people fulfill their life’s goals and which were written by people who did just that with their own lives. Books that show people with practical tips to go after what they want in life and to make up their mind early on that they’re going to get it. The Millionaire Fastlane is one of these books, and it won’t let you down. With practical solutions that are proven to work, it is also an easy read and lets you put the pedal to the medal and soar into the fastlane, which is where all of your dreams can come true.
What are your thoughts? Can The Millionaire Fastlane make you rich? Let us know in the comments below.
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If you’re really wanting to fully internalize The Millionaire Fastlane, I suggest listening to the audio book while taking notes. If you’re more of a visual learner, then read the book and listen to the audio book for additional repetition of the principles.
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