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My Favorite Book On Getting Rich to Date

If there was one book that I wish I would have read straight out of high school, it would have been The Millionaire Fastlane: Crack the Code to Wealth and Live Rich for a Lifetime.
by MJ DeMarco. Before you groan at the title thinking that it is just another scammy get rich quick book, listen to this. This book has a rating of 4.7 stars out of 985 reviews on Amazon at the time of this writing. That is with 843 five star reviews! If you don’t take my word for it, take the word of the hundreds of other people who love this book.

The Author Walks the Walk

There is a certain authenticity behind this book that you do not readily found in the “Personal Finance” space. It is especially difficult to find people selling material on “Getting Rich” who actually have gotten rich in the way they are teaching. MJ DeMarco is a millionaire, and he actually made his millions in the ways that he reveals in his book. He even fires shots at the other people in the industry for not practicing what they preach. So many financial gurus tell you to save up 10% of your income and wake up rich in the end, but they actually make their millions off of book sales. Similarly, if you’ve ever fallen victim of a MLM (Multi Level Marketing) Scheme, don’t worry, MJ DeMarco despises them. Even if this book does nothing but stop you from joining an MLM or following some other shady advice found elsewhere in the industry, it will have likely saved you hundreds of dollars.

Not a “Get Rich Quick” Book

A disclaimer that he gives right up front is that this is not a “Get Rich Quick” book. This is a “Get Rich in 5 to 10 years” book. 5 to 10 years may seem like a long time, but ask yourself this. Would you rather get rich by age 65 or age 40, 35, or even 30? That 30 number sounds pretty perfect to me. Imagine being able to have enough wealth to live the life that you want while you are still young enough to enjoy it. That is what this blog is all about, and that is exactly the roadmap that this book will give you.

Not a “Get Rich Easy” Book

A second disclaimer on this book is that it is not a “Get Rich Easy” book. Getting into the fastlane is going to take a lot of hard work, so better turn back now if you’re not up for it. Again, would you rather work hard for the next 40 years or the next 5 to 10? At Getting Rich Young, we love putting in hard work now in order to benefit from it repeatedly in the future. The Millionaire Fastlane is an excellent tool to help guide your thinking in this aspect as well.

Start By Finding Your Why

This book was the first book that I found that really made me find my “why”. If you ask most people if they want to be a millionaire, most people would say “Duh”. However, if you ask somebody why, it may take them a little bit of time to come to a real answer. Why do you want to be rich? My guess is that it’s not that you just want a ton of money in a vault to go swimming in. My guess is that it’s not so that you can count your coins over and over again. My guess is that it doesn’t have to do with the money at all.

If you are like me, then you probably want the money to live some dreams. My “why” is filled with experiences that I want to live, people I want to spend time with, and a few toys that I would like to have. None of these really have to do with the money. Once I found my “why,” MJ then had me go through the exercise of finding out how much that lifestyle is going to cost me. It was so simple that I seriously slammed my head on the couch. For the first time, I had a tangible goal in wealth. Once I hit that goal, I no longer need to bust my butt and I can retire in my dream lifestyle. This was extremely powerful for me, and I hope that it offers as much to you.

3 Different Paths

MJ DeMarco starts his book out by describing the 3 different paths that people are on. There is the Sidewalk, which is where people live paycheck to paycheck. There is the Slow Lane, which is where you save a small percentage of your paycheck for the next 40-50 years and hope the markets continue as they have historically. Finally, there is the Fast Lane. In the Fast Lane, you work your butt off for the next 5 to 10 years building a business, then you sell it once it has been scaled up. Which path are you currently on? Which one do you want to be on?

The Fastlane

After he has convinced you that entrepreneurship is the road of the Fast Lane, he goes further and gives actionable advice on building a business. Unfortunately, most people who start businesses are doomed from the get go. Even worse, many of the “successful” ones are nothing more than a job for the owner that they are chained to. MJ goes into detail about his 5 Fastlane commandments, that if followed, will get you off on the right foot. To give yourself even better odds, he goes into 3 Fastlane Interstates and even provides his top 5 Fastlane Business seedlings. If you are struggling for an idea, or not sure which type of business to start, then this section may just give you the push in the right direction that you needed. MJ DeMarco offers some excellent explanation surrounding why he has chosen each type of businesses to include.

Business Advice

After you have gone through the process of choosing your own personal fastlane, the advice continues to pour in. DeMarco goes into detail about how to make informed strategic decisions, how to find your unique selling proposition, and how to rise above the noise. The Millionaire Fastlane
truly takes you from Zero to Hero, which is unlike just about any other book on the topic that I have found to date.

Not A Step-By-Step How To Guide

One word of caution is that this book is not a literal “How To” guide. MJ DeMarco does not tell you step by step exactly what you should do. He does not tell you to buy real estate and how to do it. He does not tell you to start a software company and how to do it. He does not tell you to invest in the next Google and how to find it. However, he lays out lots of options and clearly explains his reasoning behind the directions. I like to think of this book as the classic saying, “I can only show you the door. You are the one who has to walk through it.” MJ DeMarco does exactly that. He shows you the Fastlane, but you have to find your on-ramp and build it yourself. This book is more about changing your mindset than anything else, with real advice from somebody who has really been there.

Key Takeaways

1. Building a Business is The Millionaire Fastlane

2. You will not get rich overnight

3. This will not be easy

4. You have to solve real problems

5. There has to be a large enough market for your solution

6. Your income needs to become independent of time

Is This Book Right For You?

• Are you tired of just dreaming about Getting Rich Young?

• Are you ready to take action?

• Are you willing to put in a lot of hard work over the next 5 to 10 years to reach your dreams?

• Are you able to listen to advice that may not align with your long held beliefs?

Start Reading Today

If you answered “YES” to all of these questions, then go borrow, rent, or buy this book today! If you didn’t, then this may not be the book for you. There are plenty of other books out there that will offer you all the fluff that you are looking for to keep dreaming instead of doing.

“An Investment in Knowledge Pays the Best Interest.” -Benjamin Franklin

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