The Millionaire Fastlane: Chapters (24-28) Summary

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Choices of perception serve as the impetus to choices of action. If you believe and perceive a certain idea, you are likely to act in accordance with that belief.

You see, you choose to interpret events in your particular frame of reference. Your mind labels and categorizes events that surround you. If you lose your job, you can frame it as a negative or a positive. When you’re caught speeding, you can be angry or thankful. The choice of perception and its choices start right between your ears and drive themselves into choices of action.

The universe doesn’t care about your past. It is blind to it. The universe doesn’t care that I wore pink pants in high school. The universe doesn’t care that I got in a fight with Francis Franken and lost. The universe
doesn’t care about your MBA from UCLA, your drug-dealing father, or that you wet your bed in junior high. The universe simply doesn’t care. One person and one person only weaponizes past transgressions: you.

Chapter Summary: Fastlane Distinctions
••Your choices of action manifest from your choices of perception.
••What you choose to perceive, or not perceive, will manifest itself to a choice of action, or inaction.
••You can change your choice of perception by aligning yourself with those who experience the perception as reality.
••Worst Case Consequence Analysis helps avoid treasonous choices.
••The Weighted Average Decision Matrix can help you make better big decisions by clarifying alternatives and their internal factors.
••The universe has no memory, only you do.
••Your past can be accelerative or treasonous. You choose the classification.
•• If your eyes are transfixed to the past, you can’t become the person you need to become in the future.

Extraordinary wealth will require you to have extraordinary beliefs.

Chapter Summary: Fastlane Distinctions
••The natural gravity of society is not to be exceptional, but average.
•• Toxic relationships drain energy and detract from your goals to be extraordinary.
••The people in your life are like your comrades in a battle platoon. They can save you, help you, or destroy you.
•• Good relationships are accelerative to your process, while bad relationships are treasonous.

Fastlaners understand that time is the gas tank of life. Time is the great equalizer. You were born with a full tank of gas. There are no refilling stations, and your one fill-up occurred the moment you took your first breath. There are two types of time that will make up your lifespan: Your free time and your indentured time.

Your Lifespan = Free Time + Indentured Time

Money buys free time and eliminates indentured time. However, the irony of your free time is it isn’t FREE; it’s bought and paid for by your indentured time. Indentured time becomes the ransom of your free time. The leading cause of indentured time is parasitic debt.

A Poor Valuation of “Free Time” Leads to Poorness

Behind the tangled roots of poorness, you will find a poor valuation of free time, which breeds from bad choices. “Time losers” are poor evaluators of time.

Sidewalkers and Slowlaners use money as the sole criterion in decision-making: Which job pays the most? Where is the cheapest item? How can I get some free chicken? Money is scarce and time brings up the rear and sweeps up the mess. If you want to be rich, you have to start thinking rich. Time is king. 👑

Chapter Summary: Fastlane Distinctions
•• Fastlaners regard time as the king of all assets.
•• Time is deathly scarce, while money is richly abundant.
•• Indentured time is time you spend to earn money. Free time is spent as you please.
••Your lifespan is made up of both free time and indentured time.
•• Free time is bought and paid for by indentured time.
•• Fastlaners seek to transform indentured time into free time.
•• Parasitic debt eats free time and excretes it as indentured time.
•• Lifestyle extravagances have two costs: the cost itself and the cost to free time.
•• Parasitic debt has to be stopped at the source: instant gratification.

Graduation Is Not the End; It Is the Beginning

What you know today is not enough to get you where you need to be tomorrow.

The purpose of education within the Fastlane is to amplify the power of the money tree and the business system. You’re not a cog in the wheel; you learn to build the wheel.

Make the real world your university. Yes, you are your own university.

In today’s information society, there is absolutely no excuse not to find out how.

Chapter Summary: Fastlane Distinctions
•• Fastlaners start their education at graduation, if not before.
••A Fastlaner’s education serves to advance their business system and their money tree, not to raise intrinsic value.
•• Fastlaner’s aren’t interested in being a cog in the wheel. They want to be the wheel.
•• I don’t know how” is an excuse dismantled by discipline.
•• Infinite knowledge is everywhere and it’s free. What’s missing is discipline to assimilate it.
••You can become an expert in any discipline not requiring physical skills.
•• Educational recharges can occur within time blocks already allocated for other objectives.
•• Organizers of expensive seminars take advantage of Sidewalkers and disenfranchised Slowlaners by marketing empty promises as “events.”

Fastlane Risks Can Have Lifelong Returns

When it comes to risk analysis, there are two types of risk designated by best- and worst-case outcomes or consequences: intelligent risks and moronic risks.

Intelligent risks have a limited downside, while their upside is unlimited. Moronic risks have a bottomless downside and their upside is limited, or short term.

Opportunity Doesn’t Care About Timing

Chapter Summary: Fastlane Distinctions
•• Interest is first gear. Commitment is the Redline.
•• Hard work and commitment separates the winners from the losers.
•• Some choose short-term mediocre comfort over long-term meteoric comfort.
•• To live unlike everyone else, you have to do what everyone else won’t.
••Arm your expectations to hard work, sacrifice, and other bumps in the road. These are the landmines where the weak are removed from the road and sent back to the land of “most people.”
•• Failure is natural to success. Expect it and learn from it.
•• One home run could set you financially secure for your life, perhaps generations.
•• Home runs can’t be hit in the dug out.
••Moronic risks have unlimited downside (long term) and limited upside (short term).
•• Intelligent risks have unlimited upside (long term) and limited downside (short term.)
••There is never perfect timing and waiting for “someday” just wastes time.

👉🏽 Millionaire Fastlane 👈🏽

The Millionaire Fastlane: Chapters (1-10) Summary

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Part 1
Wealth in a Wheelchair:
“Get Rich Slow” is Get Rich Old

The Great Deception
Normal is not something to aspire to,
it’s something to get away from.
~ Jodie Foster

Chapter Summary: Fastlane Distinctions
••“Get Rich Slow” demands a long life of gainful employment.
••“Get Rich Slow” is a losing game because it is codependent on Wall Street and anchored by your time.
••The real golden years of life are when you’re young, sentient, and vibrant.

How I Screwed “Get Rich Slow”
The object of life is not to be on the side of the masses,
but to escape finding oneself in the ranks of the insane.
~ Marcus Aurelius

Chapter Summary: Fastlane Distinctions
•• Fame or physical talent is not a prerequisite to wealth.
•• Fast wealth is created exponentially, not linearly.
•• Change can happen in an instant.

Part 2
Wealth is Not a Road,
But a Road Trip!

The Road Trip to Wealth
The journey of a thousand miles must begin with a single step.
~ Lao Tzu

Chapter Summary: Fastlane Distinctions
••Wealth is a formula, not an ingredient.
•• Process makes millionaires. Events are by-products of process.
•• To seek a “wealth chauffeur” is to seek a surrogate for process. Process cannot be outsourced, because process dawns wisdom, personal growth, strength, and events.

The Roadmaps to Wealth
If you don’t know where you are going, any road will get you there.
~ Lewis Carroll

Debt Perception: Does debt control you or do you control your debt?
Time Perception: How is your time valued and treated? Abundant? Fleeting? Inconsequential?
Education Perception: What role does education have in your life?
Money Perception: What is money’s role in your life? Is money a tool or a toy? Plentiful or scarce?
Primary Income Source: What is your primary means of creating income?
Primary Wealth Accelerator: How are you accelerating your net worth and creating wealth? Or are you?
Wealth Perception: How do you define wealth?
Wealth Equation: What is your mathematical plan for accumulating wealth? What wealth equation defines the physics of your wealth universe?
Destination: Is there a destination? If so, what does it look like?
Responsibility & Control: Are you in control of your life and your financial plan?
Life Perception: How do you live your life? Do you plan for the future? Forsake today for tomorrow? Or tomorrow for today?

Chapter Summary: Fastlane Distinctions
•• To force change, change must come from your beliefs, and your roadmap outlines those beliefs.
•• Each roadmap is governed by a wealth equation and predisposed to a financial destination—Sidewalk to poorness, Slowlane to mediocrity, and the Fastlane to wealth.

Part 3
Poorness:
The Sidewalk Roadmap

When you’re the first person whose beliefs are different
from what everyone else believes, you’re basically saying,
“I’m right, and everyone else is wrong.” That’s a very unpleasant position to be in.
It’s at once exhilarating and at the same time, an invitation to be attacked.
~ Larry Ellison

Chapter Summary: Fastlane Distinctions
••A first-class ticket to the Sidewalk is to have no financial plan.
••The Sidewalk’s natural gravitational pull is poorness, both in time and money.
••You cannot solve poor financial management with more money.
••You can be income rich and still ride the Sidewalk dirty.
•• If wealth is defined by income and debt, wealth is an illusion, because it is vulnerable to potholes, detours, and “bumps in the road.” When the income disappears, so does the illusion of wealth.
•• Poor financial management is like gambling; the house eventually wins.

Has Your Wealth Been Toxified?
Wealth is the ability to fully experience life.
~ Henry David Thoreau

Chapter Summary: Fastlane Distinctions
••Wealth is authored by strong familial relationships, fitness and health, and freedom—not by material possessions.
•• Unaffordable material possessions are destructive to the wealth trinity.

Misuse Money and Money Will Misuse You
Money can’t buy happiness, but it can make you awfully comfortable while you’re being miserable.
~ Clare Boothe Luce

1) Money buys the freedom to watch your kids grow up.
2) Money buys the freedom to pursue your craziest dreams.
3) Money buys the freedom to make a difference in the world.
4) Money buys the freedom to build and strengthen relationships.
5) Money buys the freedom to do what you love, with financial validation removed from the equation.

If You Think You Can Afford It —You Can’t. Affordability is when you don’t have to think about it.

Chapter Summary: Fastlane Distinctions
••Money doesn’t buy happiness because money is used for consumer pursuits destructive to freedom. Anything destructive to freedom is destructive to the wealth trinity.
••Money, properly used, can buy freedom, which can lead to happiness.
•• Happiness stems from good health, freedom, and strong interpersonal relationships, not necessarily money.
•• Lifestyle Servitude steals freedom, and what steals freedom, steals wealth.
•• If you think you can afford it, you can’t.
•• The consequence of instant gratification is the destruction of freedom, health, and choice.

Lucky Bastards
Play The Game

I’m a great believer in luck,
and I find the harder I work, the more I have of it.
~ Thomas Jefferson

Chapter Summary: Fastlane Distinctions
•• Like wealth, luck is created by process, not by event.
•• Luck is created by increased probabilities that are improved with the process of action.
•• If you find yourself playing the odds of “big hits,” you are event-driven, not process-driven. This mindset is conducive to the Sidewalk, not the Fastlane.
••“Get Rich Quick” infomercial marketing is a Fastlane because savvy marketers know that Sidewalkers place faith in events over process.
••Moneymaking “systems” are rarely as profitable as the act of selling them to Sidewalkers.

Wealth Demands Accountability


Responsibility is the price of greatness.
~ Winston Churchill

Chapter Summary: Fastlane Distinctions
•• Hitchhikers assign control over their financial plans to others, which effectively introduces probabilities to victimhood.
••The Law of Victims: You can’t be a victim if you don’t relinquish power to someone capable of making you a victim.
•• Responsibility owns your choices.
•• Taking responsibility is the first step to taking the driver’s seat of your life. Accountability is the final.

Part 4
Mediocrity:
The Slowlane Roadmap

The Lie You’ve Been Sold:
The Slowlane

What if I told you ‘insane’ was working fifty hours a week in some office
for fifty years at the end of which they tell you to piss off;
ending up in some retirement village hoping to die before suffering
the indignity of trying to make it to the toilet on time?
Wouldn’t you consider that to be insane?
~ Steve Buscemi (Con Air, paramount pictures, 2003)

Have You Sold Your Soul for a Weekend?

Life does not begin on Friday night and end Monday morning.

Chapter Summary: Fastlane Distinctions
••The Slowlane is a natural course-correction from the Sidewalk evolving from taking responsibility and accountability.
••Wealth is best experienced when you’re young, vibrant, and able, not in the twilight of your life.
••The Slowlane is a plan that takes decades to succeed, often requiring masterful political prowess in a corporate environment.

•• For the Slowlaner, Saturday and Sunday is the paycheck for Monday through Friday.
••The default return on your time in the Slowlane is negative 60%—5-for-2.
••The 5-for-2 trade inherit in the Slowlane is generally fixed and cannot be manipulated, because job standards are five days a week.
••The predisposed destination of the Slowlane is mediocrity. Life isn’t great, but it isn’t so bad either.

Rich Dad Poor Dad: Concise Summary

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Rich Dad Poor Dad” is a personal finance and self-help book written by Robert T. Kiyosaki. The book contrasts the financial philosophies and practices of two father figures: the author’s biological father (referred to as “Poor Dad”) and the father of his childhood best friend (referred to as “Rich Dad”). Here’s a brief summary of the key concepts from the book:

  1. The Rich Don’t Work for Money:
    • Rich Dad emphasizes the importance of financial education and learning to make money work for you instead of working for money.
    • He encourages the development of assets that generate passive income, such as investments or businesses.
  2. Assets vs. Liabilities:
    • The author introduces the concept of assets and liabilities.
    • Assets are things that put money in your pocket, while liabilities are things that take money out. Building wealth involves acquiring assets and minimizing liabilities.
  3. Mindset and Education:
    • Rich Dad stresses the importance of having a mindset geared towards financial independence and wealth-building.
    • The author criticizes the traditional education system for not providing sufficient financial education and recommends seeking knowledge outside of conventional channels.
  4. Entrepreneurship and Investments:
    • The book encourages readers to think like entrepreneurs and investors.
    • Building and owning businesses, investing in real estate, and making informed financial decisions are highlighted as key paths to wealth.
  5. The Importance of Taking Risks:
    • Rich Dad emphasizes the importance of taking calculated risks and learning from mistakes.
    • He believes that fear and the avoidance of risks often hinder financial success.
  6. Work to Learn, Not to Earn:
    • The author advocates for gaining experience and knowledge over simply working for a paycheck.
    • Acquiring new skills and expanding one’s knowledge base can lead to greater financial opportunities.
  7. The Power of Passive Income:
    • Rich Dad emphasizes the significance of creating and acquiring assets that generate passive income streams.
    • Passive income allows individuals to earn money without actively working for it, providing financial freedom.
  8. Understanding Taxes:
    • The book discusses the importance of understanding tax laws and using them to one’s advantage.
    • Learning how to minimize taxes legally can contribute to financial success.

Rich Dad Poor Dad” encourages readers to rethink their approach to money and work toward financial independence. It challenges conventional beliefs about money, wealth, and success, promoting a mindset shift towards entrepreneurship and financial education. Keep in mind that while the book has been influential for many, opinions on its advice may vary, and it’s essential to consider individual circumstances when applying financial principles.

Best Finance Books of All Time

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Rich Dad Poor Dad

Rich Dad Poor Dad
• Explodes the myth that you need to earn a high income to become rich
• Challenges the belief that your house is an asset
• Shows parents why they can’t rely on the school system to teach their kids about money
• Defines once and for all an asset and a liability
• Teaches you what to teach your kids about money for their future financial success

The Intelligent Investor

The classic text of Benjamin Graham’s seminal The Intelligent Investor has now been revised and annotated to update the timeless wisdom for today’s market conditions.

The greatest investment advisor of the twentieth century, Benjamin Graham, taught and inspired people worldwide. Graham’s philosophy of “value investing”—which shields investors from substantial error and teaches them to develop long-term strategies—has made The Intelligent Investor the stock market bible ever since its original publication in 1949.

The Little Book That Still Beats the Market 

In 2005, Joel Greenblatt published a book that is already considered one of the classics of finance literature. In The Little Book that Beats the Market—New York Times bestseller with 300,000 copies in printGreenblatt explained how investors can outperform the popular market averages by simply and systematically applying a formula that seeks out good businesses when they are available at bargain prices. Now, with a new Introduction and Afterword for 2010, The Little Book that Still Beats the Market updates and expands upon the research findings from the original book. Included are data and analysis covering the recent financial crisis and model performance through the end of 2009. In a straightforward and accessible style, the book explores the basic principles of successful stock market investing and then reveals the author’s time-tested formula that makes buying above average companies at below average prices automatic. Though the formula has been extensively tested and is a breakthrough in the academic and professional world, Greenblatt explains it using 6th grade math, plain language and humor. He shows how to use his method to beat both the market and professional managers by a wide margin. You’ll also learn why success eludes almost all individual and professional investors, and why the formula will continue to work even after everyone “knows” it.

The Millionaire Fastlane

Crack the Code to Wealth and Live Rich for a Lifetime!

Just some of what you will learn:

  • Why jobs, 401(k)s, indexed-funds, and 40-years of mindless frugality will never make you rich young.
  • Why most entrepreneurs fail and how to immediately put the odds in your favor.
  • The real law of wealth: Leverage this, and wealth has no choice but to be magnetized to you.
  • The leading cause of poorness: Change this, and you change everything.
  • How the rich really get rich – and no, it has nothing to do with a paycheck or a 401K match.
  • The indisputable mathematics of wealth: how you and any “Joe Schmo” can tap into real wealth real fast.
  • Why the guru’s sacred deities – compound interest and indexed fund investing – are impotent wealth accelerators.
  • Why popular guru platitudes like “do what you love” and “follow your passion” will most likely keep you poor, not rich.
  • And 250+ more poverty-busting distinctions…

I Will Teach You To Be Rich

No Excuses. No B.S. Just a 6-Week Program that Works

At last, for a generation that’s materially ambitious yet financially clueless comes I Will Teach You To Be Rich, Ramit Sethi’s 6-week personal finance program for 20-to-35-year-olds. A completely practical approach delivered with a nonjudgmental style that makes readers want to do what Sethi says, it is based around the four pillars of personal finance- banking, saving, budgeting, and investing-and the wealth-building ideas of personal entrepreneurship.