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Abstract

ash.com?utm_source=medium&utm_medium=referral">Unsplash</a></figcaption></figure><h1 id="1387">The Slowlane</h1><p id="5e2b">People traveling on the slowlane follow the traditional path that every teacher in school probably tells us to follow. They work mostly as salaried employees, exchanging their time for money.</p><p id="cd8f">They definitely have a plan, think about the future, and save diligently. Perhaps they invest their savings and thus achieve prosperity. However, this usually takes quite a long time. Even with a good savings rate of over $1000 per month, with an average return of 10% annually, it takes several decades to become financially free. However, slowlaners have amassed a handsome fortune by the time they are 65 and retire comfortably.</p><h1 id="b639">The Millionaire Fastlane</h1><p id="2cdd">People who choose the fastlane often stand out because of their beliefs. Unlike the slowlaner, who sees money as a scarce resource, the fastlaner thinks that there is an abundance of money. For him or her, <b>money is simply a measure of value that he or she generates</b>. Another important belief of the fastlaner is that time is the most valuable resource we have. In most cases, a fastlaner is an <b>entrepreneur whose income is made up of his business and his investments</b>. In this way, he <b>manages to avoid having to trade his time for money.</b> Since each of us has only 24h a day, this is essential to become rich. You need to find a way to generate passive income. Or as Warren Buffet would say:</p><p id="747f" type="7">“If you don’t find a way to make money while you sleep, you will work until you die.”</p><p id="ec82">These days, it’s easier than ever to take the fastlane that I mentioned. The Internet gives us countless opportunities to earn money and build our own businesses. Writing here on Medium can also be a good start when turning onto the fastlane. After all, a published article brings you passive income, if you will.</p><figure id="832c"><img src="https://cdn-images-1.readmedium.com/v2/resize:fit:800/0*E0l4xxZ2nnerd9yV"><figcaption>Photo by <a href="https://unsplash.com/@aashh_subba?utm_source=medium&utm_medium=referral">Aashh Subba</a> on <a href="https://unsplash.com?utm_source=medium&utm_medium=referral">Unsplash</a></figcaption></figure><h1 id="dd3a">Summary</h1><p id="a1eb">If you want to get rich as quickly as possible, the following things are crucial:</p><ul><li>Think of time as your most valuable resource. Find a way not to trade it for money forever.</li><li>Start

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a business or a side hustle to increase your income.</li><li>Invest your money to make it grow exponentially.</li><li>Remember this. There is no shortage of money. Money only shows how much value you generate for others.</li></ul><p id="ea90">Thanks for reading!</p><p id="e27e"><b>Wait a second.</b> Y<i>ou should get my articles in your inbox. <a href="https://medium.com/subscribe/@whitep"><b>Subscribe here.</b> </a>Maybe you also want to start writing on Medium yourself and make money. I made $2300 in my second month! You only need a membership for$ 5 a month. If you sign up<a href="https://medium.com/@whitep/membership"> <b>with my link</b></a>, you support me with a part of your fee without additional costs.</i></p><p id="0a8e">I think you will also like these articles:</p><div id="ba23" class="link-block"> <a href="https://readmedium.com/sexual-attraction-from-an-evolutionary-perspective-684bdcb5f82c"> <div> <div> <h2>Sexual Attraction From An Evolutionary Perspective</h2> <div><h3>Why do we date who we date?</h3></div> <div><p>medium.com</p></div> </div> <div> <div style="background-image: url(https://miro.readmedium.com/v2/resize:fit:320/0*fcQMJjAQVqoCJlh3)"></div> </div> </div> </a> </div><div id="f5a4" class="link-block"> <a href="https://readmedium.com/the-average-income-around-the-world-9f7cdd352dc0"> <div> <div> <h2>The Average Income Around The World</h2> <div><h3>How much do people earn in different countries?</h3></div> <div><p>medium.com</p></div> </div> <div> <div style="background-image: url(https://miro.readmedium.com/v2/resize:fit:320/0*kitVQYZvrXSXmx8J)"></div> </div> </div> </a> </div><div id="3ca3" class="link-block"> <a href="https://readmedium.com/the-ugly-reality-of-pretty-privilege-47915a718599"> <div> <div> <h2>The Ugly Reality Of Pretty Privilege</h2> <div><h3>Life is not fair…</h3></div> <div><p>medium.com</p></div> </div> <div> <div style="background-image: url(https://miro.readmedium.com/v2/resize:fit:320/0*Il0L16LRPNSzwtwW)"></div> </div> </div> </a> </div></article></body>

How To Take The Millionaire Fastlane

Do you want to become wealthy? Then you’ve come to the right place.

Photo by Obi - @pixel6propix on Unsplash

Do well in school, go to college, and get a job.

That’s the advice most of us get.

But is that the best way to acquire wealth? And what is our goal in doing so?

Do we just want to make enough money or do we want to keep as much as possible of the most valuable resource we have? Time.

In his well-known book “The Millionaire Fastlane” MJ Demarco explains why the traditional way is not necessarily the most effective and how he managed to become rich. I recently read this book and it changed my way of thinking a lot. In this article, I will present a very interesting aspect of the book: The different ways to build wealth and the mindset that leads to actual prosperity.

How do you travel towards your destination?

Let us assume that our goal is to become wealthy. Let’s say we want to become a millionaire and be financially free. For most of us, this is a very long journey. We have a long way to go. So we have to reach a certain speed to get there before we die. If we want to have a lot of time left at the destination to enjoy the wealth, we have to move quickly toward the destination. So we have to find a way to use the Fastlane. MJ DeMarco distinguishes 3 different ways towards our destination: the sidewalk, the slowlane, and the fastlane.

The Sidewalk

Those who take the sidewalk will never achieve prosperity, unfortunately. Sadly, a lot of people live exactly like that. The sidewalk leads straight to poverty. It is characterized by the fact that the people who take it spend all their money, live paycheck to paycheck, and thus can never really increase their wealth. They don’t really have a plan and don’t waste too much thought on the future.

The Slowlane

People traveling on the slowlane follow the traditional path that every teacher in school probably tells us to follow. They work mostly as salaried employees, exchanging their time for money.

They definitely have a plan, think about the future, and save diligently. Perhaps they invest their savings and thus achieve prosperity. However, this usually takes quite a long time. Even with a good savings rate of over $1000 per month, with an average return of 10% annually, it takes several decades to become financially free. However, slowlaners have amassed a handsome fortune by the time they are 65 and retire comfortably.

The Millionaire Fastlane

People who choose the fastlane often stand out because of their beliefs. Unlike the slowlaner, who sees money as a scarce resource, the fastlaner thinks that there is an abundance of money. For him or her, money is simply a measure of value that he or she generates. Another important belief of the fastlaner is that time is the most valuable resource we have. In most cases, a fastlaner is an entrepreneur whose income is made up of his business and his investments. In this way, he manages to avoid having to trade his time for money. Since each of us has only 24h a day, this is essential to become rich. You need to find a way to generate passive income. Or as Warren Buffet would say:

“If you don’t find a way to make money while you sleep, you will work until you die.”

These days, it’s easier than ever to take the fastlane that I mentioned. The Internet gives us countless opportunities to earn money and build our own businesses. Writing here on Medium can also be a good start when turning onto the fastlane. After all, a published article brings you passive income, if you will.

Summary

If you want to get rich as quickly as possible, the following things are crucial:

Think of time as your most valuable resource. Find a way not to trade it for money forever.
Start a business or a side hustle to increase your income.
Invest your money to make it grow exponentially.
Remember this. There is no shortage of money. Money only shows how much value you generate for others.

Thanks for reading!

Wait a second. You should get my articles in your inbox. Subscribe here. Maybe you also want to start writing on Medium yourself and make money. I made $2300 in my second month! You only need a membership for $5 a month. If you sign up with my link, you support me with a part of your fee without additional costs.