TY J
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Hello,
I finished reading the Millionaire Fastlane and really enjoyed it. It was a large collection of already known topics but put together in a brilliant way. It was eclectic. And It even had some few other concepts I was unaware about as well.
It was kind of sad to see that this book did not really go into detail when explaining how MJ DeMarco started and maintained his online limo business and the process of doing it.
But I payed alot of attention to "gurus NOT doing what they preach vs. MJ DOING what he preaches"
It seems MJ does do what he preaches which is to invest thyself into self-employment to create an UNLIMITED amount of possibilities (variables) multiplied by UNLIMITED potential of net profit vs being stuck in a job with LIMITED amounts of possibilities (variables) multiplied by LIMITED potential of an annual salary.
I did have some questions however and one may seem rhetorical:
On page 127 it talks about asset valuations of business, real estate, and so forth, saying that a paper valuation of $60 M of a new business will be worth only $10,000 in the bank. How does this work?
On page 258 it talks about how to calculate your dream life and then I have to take a factor of 5 and multiply it by $14000. Where does this 5 come from?
on page 57 it says we shouldn't rely on others. Now, I understand from a perspective of relying on the job market, stock market, and the housing market that it is a bad idea to heavily rely on these but what about banks? Is having other people hold our money at different locations in the same category as relying on others?
Hope you guys can help.
Thanks.
I finished reading the Millionaire Fastlane and really enjoyed it. It was a large collection of already known topics but put together in a brilliant way. It was eclectic. And It even had some few other concepts I was unaware about as well.
It was kind of sad to see that this book did not really go into detail when explaining how MJ DeMarco started and maintained his online limo business and the process of doing it.
But I payed alot of attention to "gurus NOT doing what they preach vs. MJ DOING what he preaches"
It seems MJ does do what he preaches which is to invest thyself into self-employment to create an UNLIMITED amount of possibilities (variables) multiplied by UNLIMITED potential of net profit vs being stuck in a job with LIMITED amounts of possibilities (variables) multiplied by LIMITED potential of an annual salary.
I did have some questions however and one may seem rhetorical:
On page 127 it talks about asset valuations of business, real estate, and so forth, saying that a paper valuation of $60 M of a new business will be worth only $10,000 in the bank. How does this work?
On page 258 it talks about how to calculate your dream life and then I have to take a factor of 5 and multiply it by $14000. Where does this 5 come from?
on page 57 it says we shouldn't rely on others. Now, I understand from a perspective of relying on the job market, stock market, and the housing market that it is a bad idea to heavily rely on these but what about banks? Is having other people hold our money at different locations in the same category as relying on others?
Hope you guys can help.
Thanks.
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