boboswell's review against another edition

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3.0

In The Millionaire Fastlane, there's a lot of good information here that's a bit obscured by M.J. DeMarco's pretentious attitude. Despite coming off as a bit cocky, he does offer some good information that he sums up with the acronym FASTLANE SUPERCHARGER:

F - Formula - Wealth is a process (formula) of your decisions, actions and habits.
A - Admit - Admission that the typical wealth plan, which he terms "Get Rich Slowly," is flawed; you should have a plan that allows you to find your own "luck."
S - Stop and Swap - Stop living your life by the "slow lane" and live by the "Fastlane." Swap from being a consumer to a producer.
T - Time - Time, especially free time, is your most important asset. Make good decisions about how, where, and with whom your time is invested.
L - Leverage - Leverage the mathematics that create wealth.
A - Assets/Income - Live below your means, control expenses by investing in valuable assets.
N - Number - Determine the number (amount) you need to live the lifestyle you want.
E - Effection - The "Law of Effection" claims that the more lives you impact, the more money you'll make.

S - Steer - Making good choices and decisions on ways to increase your wealth.
U - Uncouple - Removing yourself from the "slowlane wealth equation" and creating a C- or S-Corporation or an LLC, which pays itself first.
P - Passion & Purpose - Instead of "do what you love," find a Passion and Purpose that drives you to do what it takes to accomplish your goals.
E - Educate - Don't stop learning. Find new ways to increase your knowledge.
R - Road - Find a way to get on the "fastlane road," even if you can't decide which road to travel. Train yourself to see potential in the needs and problems of others.
C - Control - "Commandment of Control" states that you should control your financial plan and get involved with opportunities that allow you to fully control them.
H - Have - HAVE something to offer that others WANT/NEED.
A - Automate - Free yourself from time restrictions by automating as much as you can.
R - Replicate - Keep in mind that "Commandment of Scale" so that you can scale up your potential.
G - Grow - Grow your business as a Brand. Treat customers well, differ from competition, focus on your business goals.
E - Exit - Keep an exit strategy in mind and be aware of when it makes more sense to liquidate assets and find a new road.
R - Retire, Reward, or Repeat - Reward yourself for your accomplishments, and decide to retire or repeat the process.

I did find some value in this information and I am glad I read the book. It's a motivating read if you can cope with the author's personality.

streiby's review against another edition

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3.0

This book kept popping up on a Twitter thread as one of the best books about wealth ever written. However, it almost ended up on my "Didn't finish" shelf. The first 50% was not valuable. I skim read the entire book, though, and there were a few things I took notes on.

The content was largely good, it was the writing style that I didn't care for.

samar2030's review against another edition

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So repetitive and boring 

llmatic's review against another edition

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5.0

good book. need to reread

jenuinepanic's review against another edition

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2.0

I listened to this as an audiobook due to Ali Abdaals recommendation (and I enjoyed his book on productivity).
90% of this book is basic financial literacy delivered in the most painfully finance bro way possible.
10% is good advice but it could have been a one pager and didn't need to be a book. Though I'm sure it's made him a lot of money.

ahmedh409's review against another edition

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5.0

A practical and often blunt guide to financial freedom through the lens of business. Way better than “Rich Dad, Poor Dad” but requires some basic knowledge of personal finance to get the most out of (you need to know enough about putting money away for retirement retirement to understand why he roasts putting money away for retirement).

The author specifies 3 types of travelers on the financial roads: Sidewalkers, Slowlaners, and Fastlaners. Sidewalkers don’t have any basic grasp on finance. Slowlaners follow the typical, oft-suggested financial plan of penny-pinching, investing 10% of your income, and waiting 40 years to have enough money for “luxuries”. Fastlaners leverage their own unique skills, a recognizable brand, and clean business practices to build and sell things that others find valuable.

Overall, DeMarco’s book is crass yet incredibly useful and provides novel, immediately usable information.

taliadkn's review against another edition

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informative inspiring medium-paced

4.75

myrhial's review against another edition

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1.0

Had this book been written by another author, it might have gotten a decent rating. But halfway through I stopped and skimmed the rest, and confirmed there was no way I'd keep on subjecting myself to the airs of the author. I get it, his target audience are people who "can't seem to figure out" how to get rich and want to know what the secret is. But there is a big difference between some though love and just breaking down everyone who doesn't fit your fastlane idea.

As for the 'secret', it is really very simple. If you want to get rich sooner than later in life, you start your own business that fills a need and avoid all the pitfalls that make businesses fail. And the author was successful in that. It's just a shame that somewhere along that line he turned into a giant prick who treats everyone who doesn't follow his way as vastly inferior. And much as he claims that others make money rehashing the same information, I'm sorry, but there is really nothing new in this book.

In short, there are many other books you are better off reading who work by motivating you rather than beating you down. Unless that works for you. I'm thinking it must for some considering how many five star ratings and raving reviews this book gets, but it just doesn't do it for me. If that makes me a slowlaner, I'll be happy with that. But I won't let anyone call me lesser for it. I'll be happy to just not have a Lamborghini then. I respect that the author has different priorities, and proven success, and I'm certain those who wish to follow in that will find the methods in the book useful. But I sincerely hope that they don't turn into elitists in the process, because what good are riches if you give up your heart for it.

PS: Author needs to do some research before slagging off gamers. A level 10 Druid in World of Warcraft is nothing, few minutes on Google will tell you that. And people who spend a lot of time on gaming aren't always automatically lazy or seeking easy escape. The fact is that for some people it is the only way to cope and have friendships while they battle with crippling depression, social anxiety, disability or auto-immune disease. So it's a pretty ugly generalization to make.

dezlarsen's review against another edition

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Didn’t find it useful at the time. 

jessjess_4321's review against another edition

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informative fast-paced

3.0