The Millionaire Fastlane, by Mj DeMarco
I saw this book recommended on YouTube and for whatever reason, I thought I would read it before I watched the video. While this book was rambling and repetitive, I did manage to find some interesting nuggets of knowledge.
These are some of the things that stuck out to me:
- Detach your time from income. It’s not enough to own a business. If the business is dependent or tied to your time, your income is immediately limited.
- You need to be a producer. You’re probably not going to make millions working for someone else.
- Becoming rich is not easy, but it can be done “quickly”. You are the best investment you can make. The market will give you 5–8% on your money over 40+ years, but you can get many times that if you are dedicated and passionate enough to build a business.
- Don’t focus on the event of becoming rich, but on the process that would make that happen.
- Continually learn new things and focus on your education so you can adapt as needed.
While none of this is new, but sometimes you need to read or hear something a dozen times before it connects. But most importantly, it got my brain thinking and processing things in the background.
Here’s the video that initially got me interested. Ali Abdaal summarizes and explains the concepts of the book very well: