This has "don't feel bad for poor people" written all over it. People just don't have the kind of options he's saying they do and I don't appreciate him creating classes of people, some deserving and some underserving of comfort.
The Millionaire Fastlane
31–40 of 86 posts
Re: The Millionaire Fastlane
#32Saying it once and for all: Not everyone can be rich. And getting rich requires lots of luck. That's why it's better to be frugal and invest wisely, than to gamble on writing a best seller or invent the next big thing. I'm not saying don't invent or write books either. Just don't bet your life on it.
Perfect. Please keep to the right and stay in the slow lane. The last thing we need in the fast lane is people like you telling us we can't pass others.
Re: The Millionaire Fastlane
#33A few examples of Fastlane projects: write a book (lots of work, but then it makes money forever without you having to put in more work), make an invention (lots of work, but then you get royalties for a long time). The median average annual earnings for an author in the UK is about £12,330 ($20,300). With the ease of self-publishing platforms like Kindle and the proliferation of promotions and sales at traditional b…
Few people that get wealthy off books do so from the book sale royalties.
They sell seminars, keynote talks, services etc, it is a form of lead generation and an expert positioning tool.
Re: The Millionaire Fastlane
#34I'm a member of the author's forum: http://www.thefastlaneforum.com/community/ He gives away sample chapters of the book, or if you like listening, the first chapter is also in audio format.
The Audiobook is the way to go. He treats it like a coffee shop conversation. Really put my ass into gear.
Re: The Millionaire Fastlane
#35Earlier quoted context omitted.
Looks a bit spammy to me. I recommend this one every chance I get as a practical book about how to do your own small business as a developer: http://www.amazon.com/Start-Small-Stay-Developers-Launching-... One of the things I like about it is that it is not a "get rich quick" book. Indeed, one of the quotes I highlighted is "strive to build a startup that generates $500 per month in profit". That really resonated wit…
Thanks for this. I've not seen this book before and, like you, most of these other books feel way too spammy to me.
Glad it helps! I feel a bit spammy myself having posted it so often, but I think it's a really valuable way of looking at the world and I found the book helpful in creating my own side project business (that has passed $500 a month in profits, too:-)
Re: The Millionaire Fastlane
#36Saying it once and for all: Not everyone can be rich. And getting rich requires lots of luck. That's why it's better to be frugal and invest wisely, than to gamble on writing a best seller or invent the next big thing. I'm not saying don't invent or write books either. Just don't bet your life on it.
He isn't proposing that everyone can be rich. Have you read the book? He's proposing that 1. If you don't think it is possible for you, it will never be. 2. Getting rich (financially) requires a LOT of hard work On the subject of saving and investing wisely, he reminds the readers that investment works on compound interest. It is good to invest, but the more you put in, the more you get in return and it is a pretty s…
OK - my last comment on this - the book has wasted enough time already...
For my sins, I read it. And it was painful. But he doesn't say what you remember he did. You took away the wrong message. He belittles the 'slowlane' approach of building up wealth through compound interest, encouraging you to build a business that scales first (then look at compound interest to consolidate). Much of what he says makes sense, if not completely obvious, it's just the endless fluff and ego I couldn't stand.
If the guy used normal language, had it edited well [1], didn't impose his ego everywhere through misogyny, dubious self-anecdotes, a continuous stream of prententious and laughable 'Laws' and didn't have a complete lack of self-awareness that he might have just got lucky in the dotcom boom, not overlooking his respectable work learning to code for his own golden-ticket website (a limo hire business), then I might have appreciated the book. But then, that's a different book.
I've nothing against the guy, I can see he's charismatic in a way and probably attracts the young and naive in droves, but I just don't think it's the healthiest of outlooks on life and encourages the hero-syndrome of the self-obsessed, rather than the respectable achievements of the generous and giving.
I've only ever written one other bad review, for a speed reading book [2], and it tried the same trick: all fluff and no substance. It probably says more about me that I keep checking these books out 'just in case' they have some useful insight. They rarely do.
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[1] It's obviously more of a pleasure to read something that has been made with care, and not full of this kind of awkward phrasing: "I don't espouse my world vision on them" (first example I could find).
Re: The Millionaire Fastlane
#37"Don’t waste your money on expensive ($3k+) seminars and workshops. Those make the speakers rich but are rarely worth the money for attendees."
The same is true for books. For example this book.
Re: The Millionaire Fastlane
#38Earlier quoted context omitted.
Yes, I read it. He says in the book that it took him ownership of four consecutive MLM businesses (I use the term lightly) to realise that the only person who profits from MLM is the person who starts the business itself. Who needs four full ownership experiences to realise that? I realised it from the literature when I was 17. Not to mention the many times he quasi-advocates actually starting MLM structures. I can q…
"Who needs four full ownership experiences to realise that? I realised it from the literature when I was 17." Well the author needed that before he went on to sell his company for XX million. A lot of people make mistakes on the road to wealth, we can't all be as smart as you were at 17. That's why he wrote the book to help people skip some of those mistakes.
Ugh. I despair. Obviously the guy has a lot of defenders. Fair enough. Good luck to you all.
Has anyone seen that pending comments feature in use yet?
Re: The Millionaire Fastlane
#39What I find odd when reading these kinds of posts and the discussion that ensues is that most people don't even seem to ask if "becoming rich" is really that important to begin with: For example, in his post the author gives the impression that only money can buy you a decent and fulfilling life and that you should better get rich quick since otherwise "you’ll be too old to enjoy it".
Personally I think building up modest wealth over your entire career might be a surer and more reasonable strategy than the "get rich or die trying" model the author proposes, since the latter involves a good amount of luck and seems to work only for 1 % of the population.
Re: The Millionaire Fastlane
#40Saying it once and for all: Not everyone can be rich. And getting rich requires lots of luck. That's why it's better to be frugal and invest wisely, than to gamble on writing a best seller or invent the next big thing. I'm not saying don't invent or write books either. Just don't bet your life on it.
"And getting rich requires lots of luck." No it requires making something useful to other people that you can sell to them. You really should read the book. Airbnb (hardwork and launching 4 times? nah just luck) Dropbox (solving a hard problem? nah just luck) "That's why it's better to be frugal and invest wisely" This concept is explored in depth in the book. It's called wealth in a wheelchair and is highly dependen…
You're biasing your view to the startups that made it. Many startups also worked hard, made something useful and the founders didn't get rich (for some definition of "rich").