Daniel's notes on The Millionaire Fastlane

Ch.10 slowlane weapons - Go to college or university - Graduate with good grades - Get a good job - Save X% of your paycheck - Pay yourself first - Climb the corporate ladder - Contribute to your 401 (k) - Save, save, save - Invest in the stock market - Buy and hold - Buy indexed-funds - Diversify your portfolio - Raise your insurance deductibles

Ch.10 Friday evening is celebrated because people are rejoicing the dividends of their trade: five days of work-bondage exchanged for two days of unadulterated freedom. Saturday and Sunday are the payment for Monday through Friday. Friday evening symbolizes the emergence of that payment, freedom for two days. The prostitution of Monday through Friday Is why "Thank God it's Friday" exists. On Friday, people are paid FREEDOM in the currency of Saturday and Sunday.

Ch.10 The ultimate insanity is selling your soul Monday through Friday for the paycheck of Saturday and Sunday. Yes, give me $5 today, and in return, I'll give you $2 back tomorrow. 5-for-2. No? How about five loaves of bread today, and in return, I'll give you two back tomorrow. No again? Why? This is a smoking deal! Hopefully, you recognize that five of anything in exchange for two is a bad return. The 5-for-2 return on investment is a negative 60%. If you make a consistent negative 60% return on investments, you will go bankrupt quick. What logical person would accept such a horrific deal?

Ch.10 While I worked on my plan, I gave 7-for-0 (I worked seven days and didn't take a day off) because I knew the roads within my roadmap converged with dreams. I worked for a better ratio shortly, not in forty years. I controlled my des-tiny, and eventually, my time trade investment yielded a dividend of forty years. Now I do 0-for-7. I work zero days and get seven days of freedom. Sadly, if you are Slowlane grinding, your options to shatter this negative 60% return for your freedom are restricted. Remember, wealth is defined by freedom.

Ch.10 summary • The Slowlane is a natural course correction from the Sidewalk evolving from responsibility and accountability. • Wealth is best experienced when you're young, vibrant, and able, not in the twilight of your life. • The Slowlane is a plan that takes decades to succeed, requiring masterful political prowess in a corporate environment, frugality, and Wall Street wizardry. • For the Slowlaner, Saturday and Sunday are the paychecks for Monday through Friday. • The default return on your time in the Slowlane is negative 60% —5-for-2. The 5-for-2 trade inherent in the Slowlane is generally fixed and cannot be manipulated because job standards are five days a week. • In the Slowlane, Lifestyle Servitude is created via ascetic saving and investing rituals, whereas Lifestyle Servitude from the Sidewalk evolves from conspicuous consumerism. • The predisposed destination of the Slowlane is mediocrity. Life isn't great, but with enough mental gymnastics, it isn't so bad either.

Ch.11 JOBS: HUMAN DOMESTICATION If you want to escape the Slowlane and find wealth and freedom fast, you've go to dump the job. Let me repeat. Dump the damn job! Jobs suck. I mean that generically, not targeted toward a specific job. Whethe you're an electrician or a store manager, you hold a job. Jobs suck because they'r rooted in limited leverage and limited control. Sure, you can have a good job (an a fun one), but in the scope of wealth, they limit both leverage and control two things desperately needed if you want wealth.

Ch.14 THE PARADOX OF PRACTICE The Paradox of Practice asks, "Do you practice what you preach? Are you a model, an exemplification of what you teach?" ? Would you take skincare advice from a butterface? ? Would you take financial advice from a bankrupt bum? ? Would you take medical advice from a sanitation worker? ? Would you take bodybuilding advice from a 90-1b. weakling?

Ch.15 SEVEN SLOWLANE DANGERS 1) THE DANGER OF YOUR HEALTH The Slowlane HOPES you will live long enough to enjoy the fruits of your savings as you hit your late-stage years. Remember, you will have millions when you retire at 65! Will you be healthy enough to enjoy it? Alive? If you can't work your job, you can't make money. If you can't work, what happens to this plan? Also, avoid other calamities; hope your job stress doesn't kill you and your family remains healthy.

Ch.15 SEVEN SLOWLANE DANGERS 2) THE DANGER OF THE JOB The Slowlane HOPES that you'll always be gainfully employed, safely climbing the corporate ladder year after year. You must avoid layoffs, covID lockdowns, corporate politics, firings, poor industry cycles, job skill degradation, and poor job markets.

Ch.15 SEVEN SLOWLANE DANGERS 3) THE DANGER OF YOUR HOME Home equity is lauded as a middle-class wealth vehicle. Many gurus shout from the rooftops, "Retire on your home equity!" and "Your home is an asset!" Capital BS. The Slowlane HOPES that real estate values always rise, and it's patently false. In 2008, the value of my home equity plummeted by $800,000. I disavow my home as an investment, and thankfully, I do not rely on it.

Ch.15 SEVEN SLOWLANE DANGERS 5) THE DANGER OF YOUR LIFESTYLE The Slowlane begs you to "settle for less" and live like an ascetic monk. Want to own an exotic car? Forget it. Want to live on a beach? Wishful thinking. Like to eat sushi three times per week? Sorry, not in the budget. If you cannot control your temptations of lifestyle improvement (a nicer home, a nicer car, a nicer meal out), the Slowlane replaces Lifestyle Servitude of consumerism, with Lifestyle Servitude of forced minimalism. Meanwhile, dissatisfaction drives higher. The Slowlane HOPEs your "delayed gratification" moves to "no gratification."

Ch.15 SEVEN SLOWLANE DANGERS 6) THE DANGER OF THE ECONOMY The Slowlane HOPES that your investments will yield a predictable 8% return year after year. You must believe the theory that "buy and hold" works. It doesn't because economic busts, recessions, and depressions happen. For example, in 2008-2009, the equity markets lost nearly 60%. If you saved for 15 years and amassed $100,000, it would now be worth $40,000. It would take you 14 years at 8% yearly returns to get back even! That equates to almost thirty years GONE! And then there's inflation. If the years 2021 and 2022 haven't woken you up, then you have no hope.

Ch.15 SEVEN SLOWLANE DANGERS 7) THE DANGER OF THE SIDEWALK Frustrated Slowlaners often revert to the Sidewalk. Why? Hope over control. When you can't control time, your job, or five days of your life each week, you feel powerless. Emotions of helplessness create an environment ripe for instant gratification and consumption-driven Lifestyle Servitude. A study published in 2008 by the Journal of Consumer Research found that when people feel powerless and out of control, they have a strong desire to buy things that convey high status.

Ch.15 A Slowlaner will try to manipulate his weak mathematical universe by making the variables malleable. - Manipulate intrinsic value by increasing hours worked. (I need to make more money!) - Manipulate intrinsic value by changing jobs or adding jobs. (I need to get paid more!) - Manipulate intrinsic value by going back to school. (I need a better career!) - Manipulate compound interest by seeking better investment yields. (I need better investments!) - Manipulate compound interest by expanding the investment time horizon. (I need more time!) - Manipulate compound interest by increasing the investment. (I need to save more!)

Ch.15 A tricycle that has a top speed of 3 mph will always have a top speed of 3 mph, no matter HOW HARD YOU PEDAL! If you travel across the country at 3 mph, you'll need forty years! The Slowlane is predisposed to mediocrity because the numbers are always mediocre. The Slowlane is risky because its variables are uncontrollable, and leverage is absent. ULL really means "ULL" never get rich. Yet, lifestyle is the one variable Slowlaners can effectively manipulate. Unfortunately, this quickly turns Slow-lane life into a stale exhibition of misery. Yes, settle for less

Ch.15 In a 2002 AARP (formerly the American Association of Retired Persons) sur-vey, 69% of the respondents said they would need to work past retirement age. A year earlier, 45% said they would need to work into their 70s and 80s. Fifteen years later (and despite a booming stock market), a 2017 Gallup Poll revealed this number to be now 74%. This data deduces something disturbing: The Slowlane's failure rate is nearly 75%.

Ch.17 SWITCHING TEAMS AND THE PLAYBOOK You were baptized to play for Team Consumer from the day you were born, from the Barbie Doll and the Tonka Truck to the Star Wars action figures. You've been conditioned to demand: to want products, to need products, to buy products, and of course, to seek out the cheapest of those products. The correlation between the Slowlane and the Sidewalk is this: Jobs exist to facilitate the consumer process. This "consumer" focus acts as a gravitational pull to anti-Fastlane thinking and immediately puts you on the wrong team.

Ch.17 Decoding the Fastlane roadmap is as simple as joining the team who is the custodian of the decryption key. The winning team is Team Producer. Reshape life's focus on producing, not consuming. You effectively switch teams and allegiances when you reframe your thinking from majority thinking (consumer) to minority thinking (producer). Yes, become a producer first and a consumer second.

Ch.17 When you encounter an advertising message that coaxes you to buy something, examine it from the producer's perspective. How does this company make mon ey? What psychological tactics are used in its marketing messages? What kind of operational processes are involved in offering this product or service? Is this company making a profit? What is the revenue model? Is this product manufactured overseas or locally? I've never bought a product on late-night television because I'm on the same team. As a producer, I see the infomercials for what they are: producers (the minority) serving the consumer (the majority). The "act nows," the "but wait, there's more!" the "free bonuses"-these are marketing weapons in a producer's arsenal. I watch infomercials not to buy but to see what the pros do.

Ch.18 Increase income from your website 1-Raise Units Sold by Increasing the Conversion Ratio 1% increase from 12% to 13% would give me an instant raise of about $480 per day. That's $14,400 per month. If I redesign the website, hit a home run, and get the conversion to 15%, I've expanded my income to over $43,000 PER MONTH.