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INTRO Can you be a little bit slow and fastlane at the same time?

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Hi all,

So I've just finished TMF and it's actually blown my mind. I'm going to have to take a few days and probably read it again to process to be honest.

Personally, based on the roadmaps, I'm somewhere between the sidewalk and the slow lane. I got a job out of school selling luxury cars which introduced me very quickly to the sidewalk. I'd work 70-80hrs a week hustling to cut deals, and spend the commission almost before I got paid on luxury goods to try and fit into the environment/with my colleagues.

Fast forward to today and I've worked a heap of odd jobs - but per the book at 26 years old I've matured (a little - I got married, that counts right?) and so I've somewhat converted to the slow lane. I still have all the gadgets (and the credit card debt to match! *cough* sidewalk *cough*), however I'm also lucky enough to have 2 properties which both more or less cover their cost in rental income as where I live also has a granny flat setup that we rent out.

I work shift work, so I trade 4 days on for 4 off and a decent, secure 6 figure salary (counting shift penalties) that I mostly spend on escapism. I stumbled on this book because I was looking for some kind of purpose I could add to my 4 days off after deciding that playing video games only gets you so far. I have been consuming investment and side hustle books for about a month now and have actually got $50k in equity lined up from one of the houses to invest in an index fund.

Then along comes this book and shatters my reality. I've also been consuming podcasts in my spare time, and What you Will Learn (an Australian podcast which I adore that reviews self-development books) interviewed MJ a few times so I thought his writing sounded like something worth reading.

Now I'm questioning whether that $50k is worth investing at all. I'm super fired up and keen to try and hit the fast lane, I've always felt that there was something missing in what I was doing, but I'm also wondering about the long term. Is it so bad to hedge your bets by playing the odds of both the fast and the slow lane? MJ talks about being a producer and creating value from nothing, which I fully subscribe to. By this measure though wouldn't also playing the slow lane odds be a clever run?

Love your thoughts on the matter and super excited to join this community!
 

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lowtek

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Thanks!

And completely see what you're saying - my thoughts were more around diversification however. With 2 properties carrying the bulk of my net worth/debt, I was looking for another asset class to offset a market crash.

I'm luck enough to be Australian, so we have compulsory Superannuation which ticks away like a 401k , the thought on indexing was to bolster that/create another.

I think I've decided to sit on it a year and see, as I say the rental income from the properties pays for the debt at this point. Working to put excess income into a Fastlane venture and knock down my student/credit card debt!
Check out the blog: Wall Street Playboys. They have a recent hot take on how to deal with these situations. Hunt around for the post on their front page.

Don't let the name deter you, it's got some solid information.
 

ZF Lee

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Hi all,

So I've just finished TMF and it's actually blown my mind. I'm going to have to take a few days and probably read it again to process to be honest.

Personally, based on the roadmaps, I'm somewhere between the sidewalk and the slow lane. I got a job out of school selling luxury cars which introduced me very quickly to the sidewalk. I'd work 70-80hrs a week hustling to cut deals, and spend the commission almost before I got paid on luxury goods to try and fit into the environment/with my colleagues.

Fast forward to today and I've worked a heap of odd jobs - but per the book at 26 years old I've matured (a little - I got married, that counts right?) and so I've somewhat converted to the slow lane. I still have all the gadgets (and the credit card debt to match! *cough* sidewalk *cough*), however I'm also lucky enough to have 2 properties which both more or less cover their cost in rental income as where I live also has a granny flat setup that we rent out.

I work shift work, so I trade 4 days on for 4 off and a decent, secure 6 figure salary (counting shift penalties) that I mostly spend on escapism. I stumbled on this book because I was looking for some kind of purpose I could add to my 4 days off after deciding that playing video games only gets you so far. I have been consuming investment and side hustle books for about a month now and have actually got $50k in equity lined up from one of the houses to invest in an index fund.

Then along comes this book and shatters my reality. I've also been consuming podcasts in my spare time, and What you Will Learn (an Australian podcast which I adore that reviews self-development books) interviewed MJ a few times so I thought his writing sounded like something worth reading.

Now I'm questioning whether that $50k is worth investing at all. I'm super fired up and keen to try and hit the fast lane, I've always felt that there was something missing in what I was doing, but I'm also wondering about the long term. Is it so bad to hedge your bets by playing the odds of both the fast and the slow lane? MJ talks about being a producer and creating value from nothing, which I fully subscribe to. By this measure though wouldn't also playing the slow lane odds be a clever run?

Love your thoughts on the matter and super excited to join this community!
Welcome!

Well, for me, while BOTH Fastlane and Slowlane share a similar dedication to education and work ethic, the Fastlane requires you to make decisions that involve taking more control over your means of creating wealth and even living.

I do have some dough in local index funds, but it's not my main game, and definitely I don't invest all my money on it. Returns are too crummy and after looking at my transaction sheets, fees are a silent killer, even with a low percentage! o_O

See if you can split up the money, and send some capital to try Fastlane ideas.

Or see if you can work on dropping that credit card debt. Definitely once the payments get whittled, you'd find it a lot easier to have more capital for Fastlane stuff or investing in general.
 

lowtek

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Welcome to the forum, and thanks for the honesty.

"Investing" 50k by using a real tangible asset as collateral to play speculator in the stock market is insane. Just use it to buy more real estate.
 

Timmy C

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Hi all,

So I've just finished TMF and it's actually blown my mind. I'm going to have to take a few days and probably read it again to process to be honest.

Personally, based on the roadmaps, I'm somewhere between the sidewalk and the slow lane. I got a job out of school selling luxury cars which introduced me very quickly to the sidewalk. I'd work 70-80hrs a week hustling to cut deals, and spend the commission almost before I got paid on luxury goods to try and fit into the environment/with my colleagues.

Fast forward to today and I've worked a heap of odd jobs - but per the book at 26 years old I've matured (a little - I got married, that counts right?) and so I've somewhat converted to the slow lane. I still have all the gadgets (and the credit card debt to match! *cough* sidewalk *cough*), however I'm also lucky enough to have 2 properties which both more or less cover their cost in rental income as where I live also has a granny flat setup that we rent out.

I work shift work, so I trade 4 days on for 4 off and a decent, secure 6 figure salary (counting shift penalties) that I mostly spend on escapism. I stumbled on this book because I was looking for some kind of purpose I could add to my 4 days off after deciding that playing video games only gets you so far. I have been consuming investment and side hustle books for about a month now and have actually got $50k in equity lined up from one of the houses to invest in an index fund.

Then along comes this book and shatters my reality. I've also been consuming podcasts in my spare time, and What you Will Learn (an Australian podcast which I adore that reviews self-development books) interviewed MJ a few times so I thought his writing sounded like something worth reading.

Now I'm questioning whether that $50k is worth investing at all. I'm super fired up and keen to try and hit the fast lane, I've always felt that there was something missing in what I was doing, but I'm also wondering about the long term. Is it so bad to hedge your bets by playing the odds of both the fast and the slow lane? MJ talks about being a producer and creating value from nothing, which I fully subscribe to. By this measure though wouldn't also playing the slow lane odds be a clever run?

Love your thoughts on the matter and super excited to join this community!
Worry less about what lane your on and ask yourself how you can provide people with a product or service that provides value that they need.

No one can tell you what to do with that cash that's your call.

If it was me, and it's not me.

Id take 15k out of that 35k you where going to invest and use it to start a couple of businesses.

Id put 25 k in an index fund and the 10k id sit in cash.

Spend a few thousand on each but only work on one until you see it through to the end.

Then start the next one after your first fails. (most likely)

Once you burn through that you will have learnt something.

Maybe even be on your way to a fastlane.
 
OP
OP
Megalodon

Megalodon

Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Jan 8, 2020
15
27
20
Welcome to the forum, and thanks for the honesty.

"Investing" 50k by using a real tangible asset as collateral to play speculator in the stock market is insane. Just use it to buy more real estate.
Thanks!

And completely see what you're saying - my thoughts were more around diversification however. With 2 properties carrying the bulk of my net worth/debt, I was looking for another asset class to offset a market crash.

I'm luck enough to be Australian, so we have compulsory Superannuation which ticks away like a 401k , the thought on indexing was to bolster that/create another.

I think I've decided to sit on it a year and see, as I say the rental income from the properties pays for the debt at this point. Working to put excess income into a Fastlane venture and knock down my student/credit card debt!
 

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