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Wealth’s Shortcut::
The Fastlane
People would do better, if they knew better.
~ Jim Rohn
The Fastlane Mindposts
Debt Perception: Debt is useful if it allows me to build and grow my system.
Time Perception: Time is the most important asset I have, far exceeding money.
Education Perception: The moment you stop learning is the moment you stop growing. Constant expansion of my knowledge and awareness is critical to my journey.
Money Perception: Money is everywhere, and it’s extremely abundant. Money is
a reflection of how many lives I’ve touched. Money reflects the value I’ve created.
Primary Income Source: I earn income via my business systems and investments.
Primary Wealth Accelerator: I make something from nothing. I give birth to assets and make them valuable to the marketplace. Other times, I take existing assets and add value to them.
Wealth Perception: Build business systems for cash flow and asset valuation.
Wealth Equation: Wealth = Net Profit + Asset Value
Strategy: The more I help, the richer I become in time, money, and personal fulfillment.
Destination: Lifetime passive income, either through business or investments.
Responsibility & Control: Life is what I make it. My financial plan is entirely my responsibility and I choose how I react to my circumstances.
Life Perception: My dreams are worth pursuing no matter how outlandish, and I understand that it will take money to make some of those dreams real.
Chapter Summary: Fastlane Distinctions
••The risk profile of a Fastlane strategy isn’t much different from the Slowlane, but the rewards are far greater.
••The Fastlane Roadmap is an alternative financial strategy predicated on Controllable Unlimited Leverage.
••The Fastlane roadmap is predisposed to wealth.
••The Fastlane Roadmap is capable of generating “Get Rich Quick” results, not to be confused with “Get Rich Easy.”
Switch Teams
and Playbooks
A man wrapped up in himself makes a very small bundle.
~ Benjamin Franklin
Chapter Summary: Fastlane Distinctions
•• Producers are indigenous to the Fastlane roadmap.
•• Producers are the minority as are the rich, while consumers are the majority as are the poor.
••When you succeed as a producer, you can consume anything you want.
•• Fastlaners are producers, entrepreneurs, innovators, visionaries, and creators.
••A business does not make a Fastlane—some businesses are jobs in disguise.
••The Fastlane wealth equation is not bound by time and its variables are unlimited and controllable.
How the Rich Really Get Rich
Only those who will risk going too far
can possibly find out how far one can go.
~ TS Eliot
Chapter Summary: Fastlane Distinctions
••The key to the Fastlane wealth equation is to have a high speed limit, or an unlimited range of values for units sold. This creates leverage. The market for your product or service determines your upper limit.
••The higher your speed limit, the higher your income potential.
••The primary wealth accelerant for the rich is asset value, defined as appreciable assets created, founded, or bought.
••Wealth creation via asset value is accelerated by each industry’s average multiplier. For every dollar in net income realized, the asset value multiplies by a factor of the multiple.
••Your industry of specialization will determine the average multiple that determines your wealth accelerant factor. If the multiple is 3, your WAF is 300%.
•• Liquidation events transform appreciated assets (“paper” net worth) into money (“real” net worth) that can be transformed into another passive income stream: a money system.
Divorce Wealth from Time
Time is the coin of your life. It is the only coin you have,
and only you can determine how it will be spent.
Be careful, lest you let other people spend it for you.
~ Carl Sandburg
The Five Fastlane Business Seedlings:
1) Rental Systems
2) Computer/Software Systems
3) Content Systems
4) Distribution Systems
5) Human Resource Systems
Chapter Summary: Fastlane Distinctions
•• To divorce yourself from the Slowlane’s transactional relationship of “time for money,” you need to become a producer, specifically, a business owner.
•• Business systems break the bond between “your time for money” because they act like surrogate operatives for your time trade.
•• If you have a passive income that exceeds all your needs and lifestyle expenses including taxes, you’re retired.
•• Retirement can happen at any age.
••The fruit from a money tree is passive income.
••A Fastlane objective is to create a business system that survives time, exclusive of your time.
••The 5 money-tree seedlings are rental systems, computer systems, content systems, distribution systems, and human-resource systems.
•• Real estate, licenses, and patents are examples of rental systems.
•• Internet and software businesses are examples of computer systems.
••Authoring books, blogging, and magazines are forms of content systems.
•• Franchising, chaining, network marketing, and television marketing are examples of distribution systems.
•• Human resource systems can add or subtract to passivity.
•• Human resource systems are the most expensive to manage and implement.
Recruit Your Army
of Freedom Fighters
The rich rule over the poor, and the borrower is slave to the lender.
~ Proverbs 22:7 (NIV)
Chapter Summary: Fastlane Distinctions
•• One saved dollar is the seed to a money tree.
••A mere 5% interest on $10 million dollars is $40,000 a month in passive income.
••A saved dollar is the best passive income instrument.
•• Fastlaners (the rich) don’t use compound interest or the markets to get wealthy but to create income and preserve liquidity.
••A saved dollar is a freedom fighter added to your army.
••The rich leverage compound interest at its crest, applied against large sums of money.
•• Fastlaners eventually become net lenders.
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