MJ DeMarco is doing an amazing job at painting a financial picture. It’s very simple, yet mind blowing. He breaks wealth down into three different paths, or “lanes”. He talks about the sidewalk lane, which consists of those working minimum wage jobs and below. Then, he talks about the slow lane to wealth, which would be those who are college educated, make a decent wage, and hope their 401ks and Index Funds will be enough.
Then he talks about the fast lane. The fast lane are those who create an awesome business, and then sell that business, and make millions from the sale(or billions). He says that this is the quickest way to true wealth.
He also talks about the three F’s. Family, Fitness, and Freedom. For me personally, it’s Jesus, Family, and then work. But also fitness would be part of mine as well, and freedom is what I am striving for.
It’s a big wake up call for me, reading this book. I like my game plan of working harder and smarter, paying off my debt, and investing in an index fund, a roth IRA, and having my state pension. But MJ talks about how that is a super slow lane. I would like to be free of a job, but I know I would still have to contribute to this world. I would like that contribution to be impactful and valuable.
I have to start my new teaching gig in a month and a half. But honestly, I would like to start working for myself, offering huge value and impacting millions. I have a side business right now that helps with bills, but the full-time paycheck is hard to replace right now. Also the benefits of health insurance and vacation time. I might be able to teach for one year, and try to build this idea I have on the side. Then from there, if it takes off, then pivot to that full-time.
I am a calculated risk taker. I’ll take a big risk, only if I know I have a good hand to play.
Just sharing the info to help others.
Cheers!
-E
Emilio Gargano 