Forget saving for 40 years - here's how to become a millionaire in record time
Forget saving for 40 years - here's how to become a millionaire in record time
A Profitable Strategy for Passive Income: Living the Fast Lane Millionaire Life
According to MJ DeMarco's book "The Millionaire Fastlane," there are three ways to become a millionaire.
The Sidewalk Travelers:
These are people who sacrifice their future for their present. They live paycheck to paycheck, max out their credit cards, and are ideal victims of marketing and new trends (and scammers). You probably know many of them. In fact, there are a lot of them! They are doomed to use their time to generate wealth and to depend on third parties such as their employer or the government.
The sidewalk traveler's life cycle is:
Work generates income
This income pays for their lifestyle and incurs debts
Their lifestyle and debts require them to work hard
The cycle repeats
The Slow Lane Travelers:
Did you think you were on the fast track? Sorry, but you're not. The slow lane sacrifices the present for the future. Their motto is: Save 10% of your income every month, invest it in funds, stocks, bitcoins, real estate, etc. And in 40 years, you'll be the richest...in the nursing home. They are people who seek to prosper and grow their money but at speeds that will not allow them to enjoy their results. Wouldn't it be better to achieve this at 30-40 years old instead of 70? (I know, it sounds great, but how do we do it?)
The promise of wealth...the price? Your life.
Slow lane travelers are more responsible and cautious, but they still need to sacrifice their time to maintain their lifestyle. The intrinsic value (what the market pays us) is the differential factor in the slow lane.
The Fast Lane Millionaire:
The fast lane starts when we stop thinking as consumers and start thinking as producers. Generating wealth in the fast lane requires greatly increasing income and assets from a business activity that can be systematized and sold. Live below your means while increasing income and controlling expenses. Before planning your fast lane, think about how much money you will need to maintain the lifestyle you desire. Will $10,000 (or euros) a month suffice? $50,000? $500,000?
A key principle of the fast lane: The Law of Effection. The more lives you change in an environment you control, the more money you will make. You can also change the lives of people who, in turn, influence many others. It works the same way.
I have been following an extremely profitable strategy for a long time. This strategy allows me to live off of passive income. Living in the fast lane of the millionaire.
Many of you may think that I am a charlatan and that it is not possible, but today I am going to show you that it is with this simple strategy.