The Millionaire Fast Lane Book Club | Week 4 | Part 4 | Chapters 10, 11, 12, 13, 14, 15
Hey guys, welcome back to week 4 of the Book Club. This chapter discussed the Slow Lane.
Unlike the Sidewalk where there is no plan, the Slow Lane is essentially sidewalkers who have become a bit more responsible and are wanting to do a bit of sacraficing today for a more secure tomorrow.
While that is good and while that's an improvement over the sidewalk, it's basically settling for mediocrity. It's trading 5 days of work for 2 days of freedom. It's a net loss of 60%.
The Slow Lane is essentially the masses of the middle class. Some slow lane ideas are that formal education will give you a good life. Working for someone else is "safe and secure" or the only way to live life. Investing and being frugal will one day make you wealthy..."if everything goes well". By the way, 70% of the time it doesn't work out that way. It's a failed path and a failed system.
To me the really large overreaching message of this entire chapter is essentially about passive income. I was surprised MJ Demarco never mentioned that term, maybe he's saving it for the next Part of the book about the FastLane.
This chapter was all about how working for someone else is a losing game as you have no control over how much you make, let alone if you even get to keep your job. Also, there's a limited amount of time in a day so if you're being paid hourly you are capped at how much money you can make. You need to seperate yourself from exchanging time for money.
If you want to read the entire wrapup you can click the link below...
What were your biggest takeaways from this chapter? Do you see these things playing out in your own life? Have you made the change from trading time for money to leveraging your time to create passive income? How did you do it? Drop a comment below and tell us about it