Money System Management: More examples?

[TechnoGamer]

Hey all,

I've read the Fastlane Millionaire and Unscripted . It's been the most essential book I'd say (in terms of business mindset) for the business that I've been running for 5+ years now.

The chapter on MJ's Money System struck a cord with me. The way he manages his money is VERY different than 99% of what's out there.

Everyone out there is pitching buy-and-hold-till-you-retire or buying overvalued stocks that the media's talking about.

I really liked MJ's philosophy of simple, stable, diversified investments that yield steady returns that can be used to fund lifestyle choices after a big payday.

Does anyone have any other recommendations on readings on this topic? Any blogs/books/etc on other examples of diversified money systems people have made similar to MJ's philosophy?

Much appreciated!

 

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[SEBASTlAN]

Killing Sacred Cows by Garrett Gunderson is pretty good imo.

 

[TechnoGamer]

Killing Sacred Cows by Garrett Gunderson is pretty good imo.

Thanks! I'll check it out

 

[MJ DeMarco]

Does anyone have any other recommendations on readings on this topic?

Yes, learn how to start a business, and then grow it so it produces outsized CAGR's.

Once you obtain millions, then learn how to leverage that into a lifetime return, either thru a liquidation, or continued CAGRs. There are a ton of books on business building.

Until then, you're putting the cart before the horse.

My philosophy is 95% entrepreneurship 5% Wall Street, so I wouldn't worry about that latter 5% until the problem (excess cash) starts to arise in your life.

In contrast, the rest of the Scripted world is 50% Wall Street, and 50% jobs... neither of which you can control or scale particularly well ... which is why it sucks as a financial plan, at least if you want to get out of the rat race before 55 or 65.

 

[TechnoGamer]

Yes, learn how to start a business, and then grow it so it produces outsized CAGR's.

Once you obtain millions, then learn how to leverage that into a lifetime return, either thru a liquidation, or continued CAGRs. There are a ton of books on business building.

Until then, you're putting the cart before the horse.

My philosophy is 95% entrepreneurship 5% Wall Street, so I wouldn't worry about that latter 5% until the problem (excess cash) starts to arise in your life.

In contrast, the rest of the Scripted world is 50% Wall Street, and 50% jobs... neither of which you can control or scale particularly well ... which is why it sucks as a financial plan, at least if you want to get out of the rat race before 55 or 65.

I agree 100%

I am currently sitting at a low seven-figure USD cash position at the moment through profits of my Fastlane business.

My 95% focus is continuing to grow the business through continuing to work on the product and streamlining/automating processes.

 

[Guest-5ty5s4]

I agree 100%

I am currently sitting at a low seven-figure USD cash position at the moment through profits of my Fastlane business.

My 95% focus is continuing to grow the business through continuing to work on the product and streamlining/automating processes.

Hey @TechnoGamer , do you have any progress threads on your business? What did you do to achieve that cash position?

 

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[MJ DeMarco]

Here's some threads on the money system...

GOLD! - HOT! - INVESTING - Lifetime passive income: The Paycheck Pot In Action

Want to earn a passive income every single month for the rest of your life? And be able to survive a recession or a market collapse? Earn (and save) enough money to build a Paycheck Pot, a lump-sum portfolio that yields a passive income EVERY MONTH through the use of market investments such...

www.thefastlaneforum.com

NOTABLE! - INVESTING - Money System Management: Real Example, Closed-End Fund

Money system management was discussed briefly in UNSCRIPTED toward the back end of the book. I thought I'd relay a real-life example into how I recently managed a money-system investment. While my objective in these investments is a monthly yield, sometimes the instruments move in a fashion...

www.thefastlaneforum.com

INVESTING - MJ talks about living off of 3.5% interest from bonds for life. But is he correct?

Dear Fastlaners, I have a genuine question. MJ says in TMF and UnScripted that you can live off of interest from a large sum of money all your life without working. But I have a doubt. Suppose you have $10 million invested in municipal bonds, and you earn 3.5% interest per year. That's...

www.thefastlaneforum.com