The Millionaire Fastlane – Book Summary

There are 2 ways to wealth;

• Get rich slow and
• Get rich fast

GET RICH SLOW

This lane is also called “wealth in the wheelchair” or get rich old, it follows the old platitude of going to school, get a job, save 10%, invests in stocks and mutual fund….compound interest magic thing et al and when you’re old you will be rich.

This lane is praised by well-respected people like parents, guardians, and financial gurus who are TV personalities. This way is insidious in that it encourages people to invest decades of their life for glorious tomorrow to enjoy wealth.

The thing is life is very capricious and old age comes to many with some health-related issues for instance arthritis, dementia, Alzheimer…now 30, 40, 50 years down the line, one might be rich, but knees might be hurting inhibiting one to walk without a wheelchair. Assuming someone’s dream car was a Lamborghini and they save for 40 years in a mutual fund where will they put a wheelchair if they cannot walk due to old age-related diseases? One can also be rich old but strapped in a bed, smelling urine in a diaper because one may have Alzheimer’s.

Get rich slow has 2 road maps to wealth;

1. Sidewalk- end in poorness (broke)
2. Slowlane – end in mediocrity.

Sidewalk Roadmap

A person on the sidewalk is called a Sidewalker. Sidewalker is always one thing away from being broke.

Traits of a Sidewalker

• Sidewalker are always buying new flashy products and other kinds of stuff.
• They have no delayed gratification.
• To them wealth = income + debt
• Sidewalker spend more than they earn
• They never study after graduation
• Sidewalker gamble and buy lottery
• They have plenty of time to waste

A Sidewalker uses debt to maintain their flamboyant lifestyle since they can’t afford those stuff. The longer they use debt the longer they prolong their jail sentence (consumer debt = prison/bondage)

How can you know that you can afford something? By not thinking whether you can or you can’t afford it (that thought by itself is a telltale that you can’t afford it) You don’t think about whether you can afford to buy a pack of chewing gum. The reason why you don’t calculate is that it doesn’t impact your lifestyle now or in the future.