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INTRO Hello from Boston! I did everything "right" and trapped myself in the slowlane. BUT...

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Dr. G

New Contributor
Aug 30, 2018
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Hello!

I am beyond grateful I stumbled upon the TMF. This book has forever changed my life. I want to take actions but I am not surrounded by friends and family who get it. I hope to change that by joining the forum.

I feel trapped in the slowlane because I did all the "right" things I was told to do. I got the degree in STEM (read crippling $42,000 in loans), currently doing biomedical research. One week ago, prior to reading TMF book, I wanted to pursue a PhD. NOW, I am lost like a dog and could genuinely use some smart advice from people who are serious about the fastlane.

What do you think it's a good first step transition from slowlane to fastlane @MJ DeMarco when you're a recent grad with student loans? Take the job and recruit "freedom fighters" till I can afford to quit?

Cheers!
 

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The Abundant Man

Gold Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Jul 3, 2018
1,437
2,063
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Hello!

I am beyond grateful I stumbled upon the TMF. This book has forever changed my life. I want to take actions but I am not surrounded by friends and family who get it. I hope to change that by joining the forum.

I feel trapped in the slowlane because I did all the "right" things I was told to do. I got the degree in STEM (read crippling $42,000 in loans), currently doing biomedical research. One week ago, prior to reading TMF book, I wanted to pursue a PhD. NOW, I am lost like a dog and could genuinely use some smart advice from people who are serious about the fastlane.

What do you think it's a good first step transition from slowlane to fastlane @MJ DeMarco when you're a recent grad with student loans? Take the job and recruit "freedom fighters" till I can afford to quit?

Cheers!
Take a job in your field/major. Do a fastlane business on the side related to your STEM degree.
 

Thoelt53

Gold Contributor
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Dec 8, 2016
609
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555
Boston, MA
You’re in a great city for your field. Use your job to find a need and fund your future business.

There is a very cool company in Boston that is leading the way in remote doctor visits. It was founded by two MD’s. They worked in their field, found a need, and now employ 500+ people.

There is no rush. Be aggressive, but also patient. Success is not an event.
 

evanascent

Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Aug 5, 2018
13
24
22
Hello!

I am beyond grateful I stumbled upon the TMF. This book has forever changed my life. I want to take actions but I am not surrounded by friends and family who get it. I hope to change that by joining the forum.

I feel trapped in the slowlane because I did all the "right" things I was told to do. I got the degree in STEM (read crippling $42,000 in loans), currently doing biomedical research. One week ago, prior to reading TMF book, I wanted to pursue a PhD. NOW, I am lost like a dog and could genuinely use some smart advice from people who are serious about the fastlane.

What do you think it's a good first step transition from slowlane to fastlane @MJ DeMarco when you're a recent grad with student loans? Take the job and recruit "freedom fighters" till I can afford to quit?

Cheers!
I feel for your dilemma because I've been in a similar situation. Currently, I'm finishing my PhD in a STEM field. It's a position I accepted because it's fully funded and provided a salary (this is in Europe, not the US). I was considering med school in the US but couldn't get past all the debt I would have. Waiting for a better option definitely paid off.

Don't totally discount doing a PhD; it's an incredibly gruelling experience (surely you already know that), but I think it's well worth it. I've acquired so many valuable skills and a way better mindset than I would have gotten on my own or with a regular job. I feel that I'm way better prepared for traveling the fastlane because of it.

In your case, being in a city like Boston with a biomedical research position must open you up to some useful connections and potential business ideas. As the others above have already commented, wait a bit and see. Ask around. Keep in mind that you'll have to work very hard for success, no matter what path you choose.
 

mikey3times

Silver Contributor
Read Millionaire Fastlane
Speedway Pass
Jun 21, 2013
329
691
277
Massachusetts
Biomedical Research is filled with entrepreneurs. Don’t lots of university faculty/PIs turn their research into patents or companies? I’d find an entrepreneurial PI and latch on to them so you can learn how they do it. Learn how to turn research into a product and spin off a company.

Semi-related...I worked for one of the major academic medical centers and found out that an orthopedic surgeon made millions, not by doing surgeries, but by developing better knee and hip replacements. Performing surgery is trading your time for money. Developing a product that all the surgeons use can be hugely scalable.
 

evanascent

Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Aug 5, 2018
13
24
22
Biomedical Research is filled with entrepreneurs. Don’t lots of university faculty/PIs turn their research into patents or companies? I’d find an entrepreneurial PI and latch on to them so you can learn how they do it. Learn how to turn research into a product and spin off a company.

Semi-related...I worked for one of the major academic medical centers and found out that an orthopedic surgeon made millions, not by doing surgeries, but by developing better knee and hip replacements. Performing surgery is trading your time for money. Developing a product that all the surgeons use can be hugely scalable.
You make a really good point. Come to think of it, I also know someone who runs his own biomedical lab at Stanford and has made millions from patents for cancer treatments. He has an MD (I'm not sure if hThe only thing is that he only hires people with PhDs for his lab.
Biomedical Research is filled with entrepreneurs. Don’t lots of university faculty/PIs turn their research into patents or companies? I’d find an entrepreneurial PI and latch on to them so you can learn how they do it. Learn how to turn research into a product and spin off a company.

Semi-related...I worked for one of the major academic medical centers and found out that an orthopedic surgeon made millions, not by doing surgeries, but by developing better knee and hip replacements. Performing surgery is trading your time for money. Developing a product that all the surgeons use can be hugely scalable.
You make a really good point. Adding to it, I know a guy who's running a biomedical research lab at Stanford and has made millions from patents for cancer treatments. On the other hand, he only hires people with PhDs (he has an MD). It's true that finding groups intending to create spinoff companies is a good strategy and something you can get involved with as a topic for a PhD.
 

MJ DeMarco

Administrator
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Jul 23, 2007
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I feel trapped in the slowlane because I did all the "right" things I was told to do. I got the degree in STEM (read crippling $42,000 in loans), currently doing biomedical research. One week ago, prior to reading TMF book, I wanted to pursue a PhD. NOW, I am lost like a dog and could genuinely use some smart advice from people who are serious about the fastlane.
So you did these things because you were TOLD to?
Or because your heart wanted to do them?

Are you following a purpose and a meaning?
Or following what society tells you to follow?

Where do you WANT TO BE in 3, 5, 10 years? Does a PhD fit into that narrative?
And will your current path get you there? If so, stay the course.

I would advise making any rash decisions after reading my book (or any book for that matter) until you truly think about what you want out of life. Too many folks get excited about something, but don't truly realize how big a lifestyle shift it is ...
 

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