avatarPeter W

Free AI web copilot to create summaries, insights and extended knowledge, download it at here

2217

Abstract

ent debt, while an 18-year-old Youtuber becomes a millionaire.</p><p id="8833">Please do not misunderstand: I have huge respect for doctors. Their value to our society is priceless.</p><p id="b2dd">Nevertheless, the example shows that even very good careers usually do not lead to prosperity at a relatively young age.</p><p id="2ffa">What the Youtuber has managed to do, unlike the doctor, is to decouple his income from his working hours. Once he publishes a video, it’s out there and earns him money, no matter what he does. Passive income, so to speak.</p><p id="887f">The fastlane is therefore characterized by the fact that <b>income can be scaled strongly, is not capped, and is decoupled from working hours</b>.</p><p id="c2ff">That is precisely my goal at the moment. That’s why I’m taking massive action to build up a decent income here on Medium. Last month I was able to earn 3400. I plan to start a blog to generate income with advertising and affiliates working for me 24/7. I am also learning about investment opportunities that yield more than the usual 8% a year, such as crypto staking and option selling.</p><h1 id="1e44">Summary</h1><p id="b2fc">To get rich before you are old, you have to find a way to decouple your income from your working hours. After all, the day has only 24 hours for everyone… Fortunately, nowadays it’s easier than ever to take the fastlane. The internet offers countless opportunities to build a side hustle or even your own business.</p><p id="c16a">Thanks for reading!</p><p id="2fe0"><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 3400 in my second full 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="608b">I think you will also like these stories:</p><div id="ae58" class="link-block"> <a href="https://readmedium.com/how-to-take-the-millionaire-fastlane-f56173d163d9"> <div> <div>

Options

         <h2>How To Take The Millionaire Fastlane</h2>
            <div><h3>Do you want to become wealthy? Then you’ve come to the right place.</h3></div>
            <div><p>medium.com</p></div>
          </div>
          <div>
            <div style="background-image: url(https://miro.readmedium.com/v2/resize:fit:320/0*4uWztTbCMkc2z53Z)"></div>
          </div>
        </div>
      </a>
    </div><div id="063b" class="link-block">
      <a href="https://readmedium.com/i-earned-3400-in-my-second-full-month-on-medium-eb21c633e331">
        <div>
          <div>
            <h2>I earned $3400 in my second full month on Medium</h2>
            <div><h3>Let me tell you how I did it</h3></div>
            <div><p>medium.com</p></div>
          </div>
          <div>
            <div style="background-image: url(https://miro.readmedium.com/v2/resize:fit:320/0*ojiGCSLAVhBkuuqo)"></div>
          </div>
        </div>
      </a>
    </div><div id="c937" 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="f78f" 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>

The Scam of Getting Rich Slow

Do you believe in the traditional path to wealth?

Photo by Sander Meyer on Unsplash

Imagine you were financially free. A few million in investments that yield more than enough each month to live a good life.

Wouldn’t that be nice? To have so much money that you can afford the most valuable currency of all. No, I’m not talking about Bitcoin. Although I am a big Bitcoin fan. I’m talking about time.

The Slow Lane to Wealth

If you were to ask most people what is the best way to get there, most people would probably advise you to go to college and get a good degree that will allow you to earn a good salary. After have paid off your student debt, you can start saving a portion of your salary and investing in the stock market.

After a few years, the compound interest effect will kick in and make your assets grow and grow. But getting rich before you are quite old is rather unrealistic this way. How much is it worth to be rich then? Personally, I don’t necessarily want to be the richest person in the nursing home. I would much rather be rich early enough to be able to take full advantage of my financial situation in a good physical condition.

This traditional way of building wealth has one very big disadvantage: since your income is fixed in the form of a fixed salary, you have to trade your most valuable resource for a less valuable one: Time for money. Assuming an average return of 8% per year, your investments will only yield a good amount of passive income after a few years.

In his great book “The Millionaire Fastlane” MJ DeMarco describes this way of wealth creation as slowlane.

The Fastlane

Today, a 33-year-old doctor manages to finally pay off his student debt, while an 18-year-old Youtuber becomes a millionaire.

Please do not misunderstand: I have huge respect for doctors. Their value to our society is priceless.

Nevertheless, the example shows that even very good careers usually do not lead to prosperity at a relatively young age.

What the Youtuber has managed to do, unlike the doctor, is to decouple his income from his working hours. Once he publishes a video, it’s out there and earns him money, no matter what he does. Passive income, so to speak.

The fastlane is therefore characterized by the fact that income can be scaled strongly, is not capped, and is decoupled from working hours.

That is precisely my goal at the moment. That’s why I’m taking massive action to build up a decent income here on Medium. Last month I was able to earn $3400. I plan to start a blog to generate income with advertising and affiliates working for me 24/7. I am also learning about investment opportunities that yield more than the usual 8% a year, such as crypto staking and option selling.

Summary

To get rich before you are old, you have to find a way to decouple your income from your working hours. After all, the day has only 24 hours for everyone… Fortunately, nowadays it’s easier than ever to take the fastlane. The internet offers countless opportunities to build a side hustle or even your own business.

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 $3400 in my second full 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.

I think you will also like these stories:

Life
Life Lessons
Money
Motivation
Inspiration
Recommended from ReadMedium