Browse Month

February 2016

The Millionaire Fastlane Book Review

Wow!  The Millionaire Fastlane is amazing but really long.  I bought the audio version of it and it’s taken me a quite a few days to get through it listening every free chance I get.  And the reason I keep listening?  There’s a lot of great info in it.  The Millionaire Fastlane book review shines a spotlight on the best entrepreneurial book I’ve read in a while…

Can you get rich quickly?  Yes.  Is it easy?  No.  If you are looking for a get rich quick book, this is the wrong book for you.  DeMarco takes you through the early days of his life, and his epiphany one night while caught in a snowstorm when he was a limo driver, and he makes one thing abundantly clear throughout the book–the fast lane is not for everyone.

You need to have passion, commitment, be willing to fail and get right back up and continue again.  It is for people who are willing to break from the mold of what society tells us is the path to wealth, what DeMarco calls the “wealth in a wheelchair”, 40 years of saving and working to have wealth in retirement.

One of my friends in Greensboro NC works for a really big limo company. Maybe I’ll give him this book and get him out of the “wealth in a wheelchair” slow lane!

His book sets out the 3 types of individuals he sees in our society, the sidewalkers, the slow laners and the fast laners.  If you want to get rich quickly, you will have to confront which category you are in and ask yourself some very hard questions.

One of his earliest points is to unlearn what you’ve learned.  In other words, to start questioning what society has taught us about success, wealth and how it’s earned.

You need to stop doing what you’ve been doing so far in your pursuit of wealth and change course.  His suggestion requires a paradigm shift in your entire belief system around wealth creation.

The Millionaire Fast Lane is not a how to book.  It is a general book meant to shake up your core beliefs around how wealth is acquired.  It’s meant to make you look internally and challenge what you know.

If you want what he’s proposing, you need to start by looking within. DeMarco pulls no punches and tells it like it is.  You will need to change how you live your life now in order to live a wealthy life in the future.

DeMarco is very clear that your Fast Lane to wealth is yours and yours alone.  Your roadmap (sidewalk, slow lane, fast lane) guides your actions which is underpinned by your belief system.

The Trinity of Wealth

While there are many individuals driving the Fast Lane, each will come with their own unique passions, desires and ways of operating.  But you need to question your belief system first before you enter onto the Fast Lane, such as your definition of wealth. DeMarco offers a “Trinity of Wealth” as his definition.  It is:

  • Family relationships
  • Fitness (health)
  • Freedom (to choose and live my life how I want)

He states that wealth is more than money and the Trinity is of key importance in moving away from the mentality that wealth is only related to money.  Faux wealth, he states, destroys real wealth (the Trinity of Wealth) because it lacks freedom; it is lifestyle servitude.

Working 9-5 is a modern day slavery to the lifestyle society has held up as the pinnacle of success: owning your own home, driving a fancy car, nice clothes, vacations, etc.  Most people are slaves to their lifestyle, working at a job in order to afford said lifestyle.  DeMarco attempts to divorce the concept of wealth and success with his Trinity.

Whichever your choice of roadmap, DeMarco suggests that you are the in driver’s seat and responsible for your choices.  If you want to ride in the Fast Lane, you also need to be accountable to your decisions and actions. You need a producer mindset instead of a consumer one.

You must be willing to work hard and know that ultimately both success and failure are determined by you.  Luck is the result of process; it’s not an event. And that time is the greatest asset that anyone owns.  You can choose to grow a business or you can watch TV.  What’s your choice?

The final few chapters help to outline the best types of businesses for the Fast Lane.  DeMarco has 5 “commandments” which need to be maintained in order to be successful.

He continues to confront excuses people have to starting their own business and being in control.  (I can’t start X business because there are too many people already doing it.  DeMarco says do it bigger and better.)

Again, this book is long but the ideas are great.  You need to be receptive and open minded to really get the full benefit of this book.  I recommend it if you’re ready to hit the Fast Lane.