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The Millionaire Fastlane

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Re: The Millionaire Fastlane

#81

Post by normloman »

spada wrote: post #42
corkill wrote: post #29

Earlier quoted context omitted.

"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…

thank you for this reply. it's amazing how so many people think success is luck.

It's not just luck. But a big portion of it is luck.

Lots of people had made social networks in the past. Why did Facebook succeed? Partly because it was well designed. But also because it was in the right place at the right time to build momentum early on. That's the lucky part.

Success takes hard work. But hard work isn't enough.

Re: The Millionaire Fastlane

#82

Post by normloman »

JoeAltmaier wrote: post #27
normloman wrote: post #23

Saying 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.

...says the not-an-entrepreneur. Some of us think its NOT better to play it safe. Just sayin.

I am an entrepreneur. Just not a "fastlane" get-rich-quick one.

Re: The Millionaire Fastlane

#84

Post by hippee-lee »

JoeAltmaier wrote: post #58
JoeAltmaier wrote: post #57

Earlier quoted context omitted.

Having a backup plan means planning to go back. It means holding something back from your effort. Its much harder to win big when you're not committed, when you haven't committed all of your resources to win where you're at. All sorts of schemes are possible; its not a no-brainer that a balanced approach is the best for everyone. In fact I'm certain its not.

I tell the fable: you can swim, you're at the beach surfing and diving and splashing around. A big ship goes by, full of passengers, leaning over the rail. They're yelling something at you. Paddling over you hear "Get out of the water! Its wet in there! You're getting soaked! I hear there can be sharks! Maybe it'll rain or something!" You try to tell them "It's ok, I can swim. If it rains I can go back on the beach f…

I'm not sure what the moral of you story is?

Is it not possible that you can spend all your money/time/effort chasing a lotto ticket and never have the winning numbers or even numbers that can support you when you get a curveball in life? Is it not possible that your opinions or your life circumstances could change enough that you need something more than a lotto ticket?

Re: The Millionaire Fastlane

#85

Post by JoeAltmaier »

hippee-lee wrote: post #84
JoeAltmaier wrote: post #58

Earlier quoted context omitted.

I tell the fable: you can swim, you're at the beach surfing and diving and splashing around. A big ship goes by, full of passengers, leaning over the rail. They're yelling something at you. Paddling over you hear "Get out of the water! Its wet in there! You're getting soaked! I hear there can be sharks! Maybe it'll rain or something!" You try to tell them "It's ok, I can swim. If it rains I can go back on the beach f…

I'm not sure what the moral of you story is? Is it not possible that you can spend all your money/time/effort chasing a lotto ticket and never have the winning numbers or even numbers that can support you when you get a curveball in life? Is it not possible that your opinions or your life circumstances could change enough that you need something more than a lotto ticket?

Moral: its possible to live a life just as comfortably 'pursuing the lottery ticket' as in a corporate job. You call it a lotto ticket; I call it my job. Sail on, compadre, sail on.

Re: The Millionaire Fastlane

#86

Post by hippee-lee »

JoeAltmaier wrote: post #85
hippee-lee wrote: post #84

Earlier quoted context omitted.

I'm not sure what the moral of you story is? Is it not possible that you can spend all your money/time/effort chasing a lotto ticket and never have the winning numbers or even numbers that can support you when you get a curveball in life? Is it not possible that your opinions or your life circumstances could change enough that you need something more than a lotto ticket?

Moral: its possible to live a life just as comfortably 'pursuing the lottery ticket' as in a corporate job. You call it a lotto ticket; I call it my job. Sail on, compadre, sail on.

I don't sail, but I do surf in the rain. So i'll do that ;-)

I would just hate for someone in their early 20's to not even consider all their alternatives. There is quite an intense sentiment online that corporate life is a dead end. I left the corporate world almost 10 years ago and am on my 5th start-up I guess, I'm not sure how to judge them any more but my 'career' is the high risk / higher reward whilst my wives is the aggressive mutual fund to use a poor analogy. When I had a health issue several years ago, without her insurance it would have been devastating and none of the start ups I have worked at since leaving BigCo have had health insurance that would have helped.

My point in carrying on in this discussion is that one should carefully consider all the possible outcomes and adjust plans accordingly. And selling the next generation on the defacto certainty that if they keep trying to start up they will be ok is a dis-service to them just because it works for you.

Anyway, I said what I said and now i'll go to the beach even though its not raining.

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