How are you making best of your slow lane?

[EastWind]

The truth is that a lot of us on this forums are on the slow lane with dreams of switching to the fast lane. But very few have switched yet. I'm not in the fast lane that's the truth. I'm in the slow lane. I hope to be able to switch to fast lane as soon as I can, but in the mean time, while in this life, it's important to keep the speed, never get slower or crash, so i can be able to speed up and get in the right lane. How are you doing so?

I wrote this thread impromptu because I saw the thread on clipping coupons. So it got me thinking about me, I hope to share and hope other's will share too.


I made moves to improve my income in the slow lane as much as possible.
I started working again, in the software industry as a programmer.

I made moves to bring down my cost of living as much as possible.

My shelter is very cheap, in a safe area, in the midwest. Saves me hundreds a month.
I bought a used lexus (cheap, reliable, nice). No car payment.

I stopped eating out. I would only eat out on special occasions. I cook and eat all the time. I can go an entire month without eating out once. I shop at aldi and farmer's market. i don't eat frozen/microwave food. I eat really good. - Saves hundreds a month.

No cable or home phone. I have $30/month AT&T. I share my friend's netflix account, and I watch youtube and I have a roku. I use google voice/skype on homework to replace landline.

No cell phone contract/no ridiculous phone. $30 a month plan.

I reduced drinking. I might go out 5 times before I would have a drink. While out, I will have water/diet soda. I thought to myself, what if beer or vodka was sold in the gallons at bars/clubs, what will be the cost? I mean, people cry about paying $4/gallon of gas, but then pay $10 for a shot of vodka. So I stopped drinking. I buy a few drinks from the store to entertain friends when they come over. $15-$20 a month max.

Resourcefulness - I started making do with everything I have. I haven't bought any material thing since this year. If I have something I can use, I use it. My laptop is 10yrs old, it works, I still get one hour battery life. A bit slow, but whatever. I don't have flat panel TV, my TV has good color, I rarely watch it anyway. So it stays. A lot of time, I find myself wanting to just buy something to replace something, but I talk myself out of it.

I keep a detailed budget and track all my expense.

I sell anything that I have that I'm not using. I volunteer for extra hours at work if they need people.

I stopped faking it as if I've made it. The only real sign to me that I've made it is what's in the bank. I know all this is frugal, but
that's the best I can do now till I launch into the fast lane. I'm saving for capital for future business/retirement.

April last year I had no money. I set a goal to save at least $100k within 4 years. April 2016. It's not much, but I'm right on track.

Besides saving like hell, I use my free time instead of hanging out. I work on my own project, I read forums like this, listen to motivational tracks, read useful business books.

That's how I'm making best of my slow lane.

 

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[lookingahead]

Interesting thread, for me its about the same. I only eat at home, unless I'm at work where I eat for free so a lot of times I will eat there.
I rarely go out with friends, If I do I try my best to get us to do cheap things (go to the park, geocache etc.)
I don't buy unncessary items, I don't buy clothes. I ride my bike to school and work which are about 2 miles away from my apartment. So each week I save about 40 miles in gas and wear and tear on my vehicle.
I use the club house here at my apartment to print, so that saves me money on ink and from buying a printer.
I drive a car that gets 30+ mpg and is generally cheap to maintain.
I also buy used textbooks on amazon or I will rent them. I also resell the textbooks after the end of the semester to make back what I put into it.
I reuse my used printer paper when I print out notes.
i try to keep anything electric off (a/c, tv, lights etc.)
I think thats about it, saving wise I save a few hundred dollars a month. Which goes toward my tuition, I've been selling items from craigslist/thrift/garages sales to raise money for my business.

 

[biggeemac]

I think fastlane should be viewed more as a mental shift + taking appropriate actions. I'm not letting an event be the definition of my transition to the fastlane. Lets face it, MJ was in the right place at the right time, talking to the right people, and spotted the right opportunity. By definition in TMF , I am probably a slow-laner because I havent arrived yet. But there are millionaires out there who are slow-laners by definition, so, your thoughts and actions, to me, seem to be more defining of living the fastlane life.

 

[goodfella]

I think fastlane should be viewed more as a mental shift + taking appropriate actions. I'm not letting an event be the definition of my transition to the fastlane. Lets face it, MJ was in the right place at the right time, talking to the right people, and spotted the right opportunity. By definition in TMF , I am probably a slow-laner because I havent arrived yet. But there are millionaires out there who are slow-laners by definition, so, your thoughts and actions, to me, seem to be more defining of living the fastlane life.

Honestly, the chance of being at the right place at the right time may be slim that's why you have to be at all the place, all the time.

If fastlane is just a one day thing for you and shortlived and the next day you go back to the slowlane you are on the wrong track. You need to indoctrinate the success mindset so you are on the fastlane all the time and once your there then you will be successful .

 

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[johnp]

I'm one of the people here who balances a full-time job with a statup. If you get the right job the the slowlane can be a tool that helps you get to the fastlane.

Here is how my day at work looks: I spend 2 hours working on stuff for my boss. i get shit done fast.
1 hour eating lunch. And 5 hours building my company and learning.


Am I stupid and going to get fired? No. My boss needs me. That's the key. You need to make yourself needed from day one. You need to be the smartest and fastest one In the room.

Am I lucky? No I took this job on purpose. I knew that it would give me this type of freedom. There are jobs like this out there you just have to look and be smart about it.

Other than that I find that surving In the slowlane is about setting prorties and finding ways to maximize time. I wake up at 530 am to workout because I would go insane without exercise. This gives me 6.5 hours of sleep per night. Which works for me. The first thing that i do when I get to work is to wrute down my goals for the day on my legal pad and I keep huge lists of to-dos I the wunderlist app.

Its very easy to balance the slowlane and a statup if you are smart about it.

Typed on ipad ..........

 

[MJ DeMarco]

I'm in the slow lane.

Everything you wrote describes financial discipline and great financial management. These are probably one of the top skills to have as a Fastlaner.

I'm not letting an event be the definition of my transition to the fastlane

The event occurs the moment you make a commitment to whatever process it takes, and that commitment often takes the form of an obsession. Anything less and you won't make it.

MJ was in the right place at the right time, talking to the right people, and spotted the right opportunity

Sorry bro, but that's hater Sidewalk-speak.

I supposed all those app-developers out there making millions are are also "at the right place at the right time"? Fact is, it's always the right place and the right time, question is, are you going to get off your a$$ and do something about it? Not just tomorrow when it feels good, but next week, next month, and next year?

Change is the sole element that makes millionaires and change happens every year in every environment. Or, are you gonna continually pick the illusory safe road and reason that for everyone else, well, "oh, he just was at the right place, at the right time, and knew the right people."

BTW, I just sold another international license to get TMF translated into Korean. (Chapter 32 talks about royalties as a Fastlane!) Right place at the right time ... AGAIN!!

 

[Talisman]

Right place at the right time ... AGAIN!!

Lucky bastard!
[video=youtube;-5i1cJIwE7M]http://www.youtube.com/watch?v=-5i1cJIwE7M[/video]

 

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[Skys]

First, I disagree on something you said

while in this life, it's important to keep the speed, never get slower or crash, so i can be able to speed up and get in the right lane. How are you doing so?

If you want to keep the analogy 'driving', because it's the fastlane forum, I will:
Would you drive the same same speed on the highway as in your neighbourhood where kids are playing?

Sometimes it's time to slow down. Just like you are doing now. Reflect on what you did, what you are doing and where you are moving towards. Sometimes it's time to stop the car and chill, because you drove a long time and it was full of obstacles.

Steve Jobs got kicked out at Apple, the company he build. He crashed completely and came back as a stronger CEO then ever.

You need to stay flexible while moving.

That being said, I am in the slowlane too.
I believe that I am way more valueable to society being an employee. An employee for a strong entrepreneur / business.

I don't think the fastlane is some place where I will buy lambos. I don't give a shit about lambos. They are ugly anyway. I probably would live in a normal home, with a normal car in front of the door. I will eat the same food and still go to the same barber.
I don't think there will change that much in lifestyle.
I know this, because I did have times where I earned a lot more then I do now and nothing really changed.

I will be able to save more money, which will be good for the kids that are on their way. I will be able to travel more.

But for now, I don't really mind being an employee and I don't think I will hit the 'fastlane' in 10 years from now (fastlane being, sitting on my a$$, doing nothing and enjoying passive income). I don't think I will sit still and I probably will keep on working hard.
Perhaps I will have a good lifestyle business. So, no SaaS, web shop or whatever.

I want to build a company I truly believe in, not just a company because it's 'fastlane'.

The book has some great insights but open for interpretation. At first, I believed it was all about the passive income and how to get there as soon as possible. Now I believe it's about giving value to society. The more value you give, the more money you will make. So, I want to make lots of money.. because what it would mean.
If that means I earn 10k a month being a great employee. So be it. I rather be a good employee that gives a ton of value than some wantrepreneur trying to get rich quick.

That's my developed believe system and that's what makes me feel good where I am at at this point. At this point, I can not start a business but I can be one hell of an employee. I come to this forum to keep my mindset sharp.
I do have ambitions to start my own company but I am not the type of person to just aim for the exit or aim for the millions. I will be ready when I am ready and then I will bring massive value to the world around me.

 

[Jake]

Moved to beautiful Afghanistan.

Free housing, food, utilities ( which is offset by the housing, food, utilities I pay for my family)
Work 7 days a week
Hazard pay
Tax incentives

 

[valuegiver]

I am not surprised that this thread doesn't get attention it deserves Many people don't want to sacrifice hardcore to make it in life.

Related post from my friend:
=> How to Make Money When You Don't Have Disposable Income - The Blog of Charles Ngo

 

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[dknise]

EastWind, you've been on this forum for 4 years now. It sounds like you're spending more time on perfecting the art of slowlaning than attempting to start your fastlane. What's keeping you from taking the jump, and fully committing? Do it.

 

[andyredsox]

Great thread...

We all want to be in the fastlane so we could finally enjoy life.

But come on, being in the slow lane-- steadily and with the right speed and direction, can be fulfilling too.

People in the fastlane do a lot of things to stay where they are at the moment.

Some exert to much force in order to keep up and loose sight of the journey.

So, if you're in a steady and sure pace, you'll get there soon.

Don't forget to enjoy the entire journey of getting there.

 

[cerberusss]

Working four days a week, using the fifth, plus half a Sunday to work on my app. I've got a big mortgage so I'm putting about 25 percent of my net income towards the principle.

Sometimes I have to drag myself home from the day job, but there are lots of times I had a completely fulfilling day as well.


Sent from my iPad using Tapatalk - now Free

 

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[cerberusss]

Don't forget to enjoy the entire journey of getting there.

And there's a lot of wisdom in that. I've had mornings where I would Skype my Indian subcontractor, and I'd cry when he told me he couldn't finish it in time. For the fourth time. Back to my client, to explain why the hell there was yet another delay.

Then I decided to do it all myself, better slow and steady, and enjoy the journey as well.


Sent from my iPad using Tapatalk - now Free

 

[elliot]

I don't, I totally hate it! I have a reasonable salary job for my age and my work is so easy but its the fact I am at work 8am - 5pm all week it kills me inside and I keep dreaming of quitting but the pay check is like candy tempting you back. I have the drive and and determination but I hurt myself by trying so hard to look for a idea that I can work on but now as soon as I think yes I have it I google it and its being done and yes I know do it better but I don't know how. I know MJ mentioned app development but how many apps are there now. Its hard to know how to escape and it puts stresses on your body you don't need being in those four walls its like prison with a weekend pass for me atm and I don't wanna spend the money as I know one day I will walk out and need it so am living way below my means with zero debt at all hoping the money will one day help me with a business. I look at the bosses with there new Audi company cars and above average sized houses and then find out they have one day a week to themselves it makes me NOT want to move up the ladder as the further up and more candy your offered the more stress your suffer. I wish the world would change but it never will there should be a club for people who think like us to get together and change our lives because people are so unhappy and want to succeed but just do not know how. I hate it!!

 

[EvanOkanagan]

I don't, I totally hate it! I have a reasonable salary job for my age and my work is so easy but its the fact I am at work 8am - 5pm all week it kills me inside and I keep dreaming of quitting but the pay check is like candy tempting you back. I have the drive and and determination but I hurt myself by trying so hard to look for a idea that I can work on but now as soon as I think yes I have it I google it and its being done and yes I know do it better but I don't know how. I know MJ mentioned app development but how many apps are there now. Its hard to know how to escape and it puts stresses on your body you don't need being in those four walls its like prison with a weekend pass for me atm and I don't wanna spend the money as I know one day I will walk out and need it so am living way below my means with zero debt at all hoping the money will one day help me with a business. I look at the bosses with there new Audi company cars and above average sized houses and then find out they have one day a week to themselves it makes me NOT want to move up the ladder as the further up and more candy your offered the more stress your suffer. I wish the world would change but it never will there should be a club for people who think like us to get together and change our lives because people are so unhappy and want to succeed but just do not know how. I hate it!!

The biggest thing holding you back is inaction. Just start on ANY idea you've been thinking about and learn from your mistakes. Otherwise you're going to be 40 years old and still talking the way you did in your post.

You haven't failed enough...

 

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[DennisD]

When I first saw the thread I rolled my eyes. I thought it would be about how you all reward yourselves for being mediocre. But well done OP.
Your thought process is totally fastlane. Squeeze and save as much as you can so you can put it into action later. It's hard to do and I respect you for it. You've got your head in the right place and you're going to do some pretty kick-a$$ things in the future.

I've been a sidewalker my whole life. I never found MAKING money very hard. It's KEEPING IT that I always had a problem with. And now after this whole homeless situation is done and over with, I've realized how little I can have and still make progress. I've learned self discipline the hard way and I can tell things will be a lot different.

Great thread...
We all want to be in the fastlane so we could finally enjoy life.
But come on, being in the slow lane-- steadily and with the right speed and direction, can be fulfilling too.
People in the fastlane do a lot of things to stay where they are at the moment.
Some exert to much force in order to keep up and loose sight of the journey.
So, if you're in a steady and sure pace, you'll get there soon.
Don't forget to enjoy the entire journey of getting there.

That's just something poor people say to make themselves feel better.

 

[DeletedUser12]

I recently made a big shift, moving from Los Angeles to a city in the midwest. Bought a house with some land for the price of an economy car in an area that's growing (and also my hometown).The catalyst to all this was when I added up how much rent I had paid in L.A. over three years, nearly 50k -- I was making someone wealthy and it wasn't me. I was working constantly but always broke.

Now, I have a few clients that I am able to continue to do work for and just picked up a new client via oDesk who is going to provide steady work at a decent rate. I'm really trying to position myself in a place where I have more time and mental energy to grow a business.

 

[elliot]

The biggest thing holding you back is inaction. Just start on ANY idea you've been thinking about and learn from your mistakes. Otherwise you're going to be 40 years old and still talking the way you did in your post.

You haven't failed enough...

I understand this already and I know exactly what I need to do but although I know what to do I do not understand how to and I know theres always a way etc and I need to push myself but I have never done anything apart from follow the system of the slowlane so I have zero knowledge apart from MJs and a few other books that educate you on exactly what to do but putting it into practice I find hard and with the fast lane you have nobody actually there with you to help. I know how that must sound people are laughing and takes a lot for me to admit but I feel dumb atm and normally have high confidence. I am sure its not just me in this situation? Thanks guys appreciate your time to write.

 

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[xxcloud9ninjaxx]

I've been on a startup for a while now, I've learned than no matter what I plan, if it's more than a month in advance you have to prepare to roll with whatever happens. Every day I wake up and beg for it to be the day everything takes off. But you know, even though I'm not there yet I'm learning a lot of skills and rules that I would want to know BEFORE I got big like identifying scams and the art of negotiation. I remember I used to think that people that made a lot of money in commission sales had to be some kind o big shot salesman that's done this for years and years, but all it takes is dedication to the art.

I guess I'm making the best of the slowlane by absorbing learning experiences and learning how to manage my money and control those insta-buy urges.

 

[EvanOkanagan]

I understand this already and I know exactly what I need to do but although I know what to do I do not understand how to and I know theres always a way etc and I need to push myself but I have never done anything apart from follow the system of the slowlane so I have zero knowledge apart from MJs and a few other books that educate you on exactly what to do but putting it into practice I find hard and with the fast lane you have nobody actually there with you to help. I know how that must sound people are laughing and takes a lot for me to admit but I feel dumb atm and normally have high confidence. I am sure its not just me in this situation? Thanks guys appreciate your time to write.

I was 25 at some point last year so you're at the same point where I was. Since then, I've completely changed my life around.

I was working a regular sales job, making no more than 60k/year.

Over the past year I've purchased 1.3 million dollars of Real Estate and am now earning $2,000/month passive income off of this and I started with little savings. Did I know HOW to do it? No.

6-8 months ago I had ZERO knowledge about Real Estate, hardly knew how a mortgage worked. But I knew WHAT I wanted. My HOW came along the way. I took ACTION. I started taking my Real Estate licensing course... from there I connected with big Real Estate investors.. I read books on Real Estate investing.. I purchased my first rental property (with little knowledge HOW to run it, or how to make tenancy agreements). I then went on to purchase my 2nd and 3rd properties and even though I didn't know how I was going to do it, I took steps to find out along the way.

How do I import?

Just a week ago I decided I wanted to start an importing & reselling business after reading some threads on here. Again, I had ZERO knowledge of how to import. I did a crash-course, read some threads on here and just took ACTION and the how is coming along the way.

Since a week ago I've come up with an idea of what to sell (not sure if it's going to be a big hit), researched how to find the product, spoken to 30-40 factories in China, made a purchase order, opened an importing business number, and am now awaiting shipment to arrive, which I will start selling online. There's a lot of things I don't know how to do going forward... but I'll find out.

You're 25 years old and you'll be 30 saying the same thing you are right now if you don't grow some balls and start trying things.