I made an animated summary of "The Millionaire Fastlane" by MJ Demarco. I hope this is useful to you

michaelphemo · Jun 20, 2024

Link to video:

I release new videos often, if you’re interested in subscribing here’s a link: https://www.youtube.com/channel/UCfbLDMh6uGOZePAfqqjVZ-g?sub_confirmation=1

If you'd prefer to read the script instead of watching the video, here it is:

The Millionaire Fastlane

Imagine it’s 1940 you’re 21 and you have £1,000 and you decide to invest it into a stock known as the S and P 500.

Fast forward to 2011 and that £1,000 of stocks would be worth £1.3million.

That’s great right?
Wrong!

This is slow lane thinking and although at first it seems intelligent there is a better way.

In this video I will teach you the much better way of gaining wealth quickly, the ideas come from the book The Millionaire Fastlane by MJ Demarco.

People get excited about figures like this but choose to ignore the fact that in 2011 yes you’d have £1.3million but you’d also be 91 years old.

Trying to get wealthy like this is simply far too slow.

People hear quotes like this from financial advisors, often they don’t know what the advisors are talking about because they aren’t actually wealthy themselves. This is like taking nutrition advice from someone who is obese.

Only listen to people who have achieved what you want to achieve.

This book explains how to become a millionaire fast, written by a millionaire who has been there and done it.

There are 3 lanes.

The sidewalk

The slow lane

The fast lane

Obviously you want to be in the fast lane.
How do you do that?

Understand the lanes
The sidewalk - people in this lane take no interest in their financial future, invest nothing, live day to day and accumulate no wealth.

The slow lane - people in this lane are likely to put there money into low risk investments that will take a long time to make profit like in the example at the start.

The fast lane - people in this lane become millionaires before the age of 35. I strongly believe you can become a millionaire within 3 years of properly taking time to learn about self improvement. This lane makes their money from something called the law of affection this law holds the key to accumulating wealth.

Get in the fast lane and believe that you can become wealthy fast.

What is the law of affection?

You may have heard of the law of attraction, this is something different.

The law of affection says that the more people you affect in a positive way the more wealth you will receive in return.

Here’s an example

You’ll have heard people saying things like “it’s ridiculous that footballers get paid more than doctors, this is unfair and plane wrong.”

The law of affection is the reason footballers get paid more than doctors.

Take Cristiano Ronaldo say he earns £365,000 a week.
And a Doctor gets paid £1,000 a week.

Now to make things simple we will say people rate their happiness from 1 to 10.

So a doctor treats a patient

Before the treatment the patients rating is 3 out of 10, low due to their illness impacting their life.

After the doctor treats the patient and cures the illness the patients rating goes all the way up to 8 out of 10.

An increase of 5.

On average a GP treats 200 people a week and increases each person’s happiness by 5 points.

That’s a total of 1,000 points of value a week.

Now let’s look at Ronaldo
When fans watch Ronaldo play football their happiness level may only raise by 1 point out of 10 due to being entertained. So per person Ronaldo has less of an impact.

However Ronaldo play in front of crowds of 80,000 live and millions of people watching on tv or online.

So 1 million people’s happiness level goes up by 1 point

Ronaldo creates 1 million points of value a week.

The amount of money you make is a reflection of the value you provide.

“try not to become a man of success but a man of value” -Einstein

To become a millionaire you must provide millions of pounds worth of value.

Become a person of value, the best way I feel you can do this is to improve yourself and your life and help others to do the same. Help others get what they want and you in turn will get what you want.

Warren Buffett has a net worth of 84 billion dollars and is considered the greatest investor of all time. He says that the best investment you can make is in yourself. Invest your time in learning and you will be able to answer the questions for yourself about exactly how to provide value.

I highly recommend audiobooks, you can learn so much from people who have achieved what you want to achieve.

I will put a link in the description where you can get an audiobook for free with a free trial of audible. Also you can buy audible credits which makes purchasing books around a third of the normal price. Or look on ebay for audible credits, sometimes they are really cheap.

As well as audiobooks.

Youtube is a fantastic place to learn how to become a person of value.
Subscribe to this channel, it’s what it’s all about. I genuinely want to provide you with as much value as possible and change your life for the better.

Other channels that will help you are:
project life mastery
charisma on command
improvement pill
fightmediocrity
practical psychology
valuetainment.

Learn as much as you can about gaining wealth, audiobooks are best.

Get in the fast lane, believe that you can become wealthy fast.
Become a person of value use the law of affection
Learn as much as you can about gaining wealth

I hope that was useful. Have a great day!

I release new videos often, if you’re interested in subscribing here’s a link: https://www.youtube.com/channel/UCfbLDMh6uGOZePAfqqjVZ-g?sub_confirmation=1

I've made over 60 summaries of the best self improvement books, the links are below.

Full playlist of them all here:

Here are the links:

Make Your Bed:

The power of the subconscious mind:

Getting things done:

frisk151 · Jun 20, 2024

@michaelphemo An actual summary of the book that doesn't hijack your attention :

Good look with your approach

daniel1960 · Jun 20, 2024

@michaelphemo Love this book. It changed my life!

mrskyfish · Jun 21, 2024

@michaelphemo Didn’t watch the video, but the book is probably one of the books that’s has changed my life. Or at least my perspective and goals in life. That and uncripted . God bless MJ Demarco

ken1959 · Jun 22, 2024

@mrskyfish

the book is probably one of the books that’s has changed my life. Or at least my perspective and goals in life.

Same here. Within a year of reading this and 'The $100 Startup,' I had my business up and running after a series of experiments/failures and I've doubled my income from the first year to the second year.

I'm not really following his "Build a business and sell it" gameplan yet, but his entire philosophy about leveraging your time properly/providing value really changed my mindset and made me prioritize getting my business going instead of slaving away for someone else's dream.

A lot of people shit on this book for various reasons, but a lot of it was stuff that I needed to hear that I wasn't getting from other sources.

agrowperia · Jun 22, 2024

@mrskyfish Is it worth reading or is just watching the video linked enough?

jamesgunn · Jun 23, 2024

@agrowperia Definitely will recommend to read the book.
His sense of goong all out while explaining so thing's makes us to think clearly.

agrowperia · Jun 23, 2024

@jamesgunn Great!

(cries in "I have 12 books I want to read right now and the list keeps increasing faster than I can read")

jamesgunn · Jun 24, 2024

@agrowperia I haven't read many. But most of them I read was mostly related to frugality and investment.
This book is completely different, it introduced me to the productocracy which I haven't thought much about before.
And also make sure to check his another one Unscripted

notzri · Jun 25, 2024

@michaelphemo So you are using intellectual property (TMFL) to pitch affiliate links. Wow. Thanks but no thanks.

mightymlle · Jun 25, 2024

@michaelphemo I really enjoyed this book and I don't know why it didn't got more popular. I guess it's because of the Lambourghii examples, which comes off as a little bit douchey. But if you can get past it, the author makes some really good points, but the one that really stuck with me and shifted my perspective was that investment is about value preservation rather than accumulation

thegreatquestioner · Jun 25, 2024

@mightymlle Tbh I wouldn't have read it if it weren't for the Lamborghini. It gives it much more flair. The original book cover actually had a picture of a Lamborghini until he got rid of it to "tone it down."

613jono · Jun 25, 2024

@mightymlle I mean I use investment as value accumulation and works great. I lost a lot of respect for MJ, once I saw his true character on his forum. Anything that goes against his values he locks the thread. Guy has a very fragile ego.

adreno69 · Jun 26, 2024

@michaelphemo Hey props to you for making something like this. I will definitely check this out and give it a share!

michaelphemo · Thursday at 5:55 AM

@adreno69 Thank you

613jono · Thursday at 1:21 PM

@michaelphemo I read the book a few years back and I found some of the anecdotes quite useful. This and a few others (most notably Dale Carnegey's books) have definitely had an impact on me and have helped me become successful.

But some of the advice in the book can be downright illegal depending on your country. Not sure if it was this or Rich Dad / Poor dad, but one of the advices was to move expenses like "buying your car and your house" in the business name. The car part would work, but a whole house would be what the law in my country calls "abusive expense". Basically putting a personal expense in the business name.

Luckily I have a degree in law and worked as a legal advisor for some years so I knew this, but most non-law people would not have a clue about that. I've seen so many business owners getting wrecked by our IRS because these kinds of practices (putting personal expenses in the business name, thinking they can do anything in "their" business)

Tldr: read your laws / ask specialists folks. Some of these advices can literally bankrupt you and your family.

madalitso · Friday at 2:11 PM

@613jono Yeah that wasn't The Millionaire Fastlane book

mightymlle · Saturday at 4:47 AM

@613jono It was Rich Dad Poor Dad the one with putting personal expenses on a the business. And Kiyosaki is a fraud.

echoub · Saturday at 10:09 AM

@michaelphemo One of the best books out there for a no-nonsense approach to wealth-building.

Appreciate you taking the time to do this, and look forward to checking out more of your summaries!

michaelphemo · Saturday at 3:06 PM

@echoub It is really great, definitely changed my life! Glad you like it

I made an animated summary of "The Millionaire Fastlane" by MJ Demarco. I hope this is useful to you

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