The Millionaire Fastlane – MJ Demarco

The Millionaire Fastlane

In The Millionaire Fastlane, MJ Demarco explains how people do not choose the fastlane, in their journey to millionaire status ? Rather, they are on the slowlane, prolonging their journey. Let’s get all Market Mediators on a Formula 1 car today, destination: millionaire status ?

1️⃣Being On the Fastlane

To be on the fastlane, there are a few things you must understand: 1. Your primary source of income should be from business and investments (not a salary) 2. Live below your financial means with intent to expand them 3. Time is scarce and your most valuable asset ⏰ 4. Create a goal of earning passive income 5. Pursue your dreams no matter what. Our beliefs form our actions, so it’s time you start thinking like you’re on the fastlane.

2️⃣Compound Interest

Fastlaners love compound interest ✅ They look beyond salary and toward market investments that generate what Albert Einstein called the 8th wonder. Market investments = invested sum*(1+yield)^time. To apply the formula to a simple example, if you deposit £1,000 into an account earning 10% yield, after 10 years, you will have £1,000*(1.1)^10 = £2,593.74. This is where the real money comes from, rather than a high paid salary.

3️⃣Fastlane Commandments

Starting your own business is a great way to increase wealth. The business you start should fulfil some commandments. 1. Control -> make sure you are in control of your business (if it is based purely on a social media platform, chances are they control it more than you. As we have said in the past, a business built purely on Twitter ? resembles a castle made of sand) 2. Entry -> if your lane is crowded you will be stuck in traffic, ideally there is a barrier to entry in your business 3. Need -> people don’t care about what you love ? they want their problems solved (let that be the focus of your business: offer the world more value). 4. Time -> you need a business system that can survive without input from yourself (people have got it all wrong. It is not cash that is king. Rather, time is king. Make sure at some point that you can step away and the business generates you passive income).

4️⃣The Law of Effection 

Magnitude or scale in your business can make you a millionaire. Magnitude is how much value you provide per person. Scale is how many you affect. If you don’t have either, you are not on the fastlane. If you manage to combine both, well, you might now be on the billionaire fastlane ?

If you don’t think you are on the Millionaire Fastlane, consider a mindset shift. And if passive income does not mean too much to you at the moment, check out our ? guide ?

Now, we wouldn’t want to miss out on an opportunity to guide you through one of the hottest developments in crypto. You’ve probably seen it all over your favourite social media feeds. Yes, that’s right, enter coinbase ?