The Entrepreneur Forum | Startups | Entrepreneurship | Starting a Business | Motivation | Success

GOLD! How to Get on the Cover of @Forbes: Don't Take Advice from Forbes.

Remove ads while supporting the Unscripted philosophy...become an INSIDER.

MJ DeMarco

Administrator
Staff member
EPIC CONTRIBUTOR
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Jul 23, 2007
31,156
116,049
3,751
Fountain Hills, AZ
How To Get On the Cover of @Forbes Magazine:
Don't Take Advice from Forbes.


forbesCover.jpg

OK first thing's first: I like Forbes magazine.

It's a magazine I read and recommend as it features the richest of the rich and has content with a strong entrepreneurial focus. Unfortunately, Forbes runs several content channels that fall into the bullshit hypocrisy of trying to tell people "how to get rich" by placating themselves to the trillion dollar financial industry.

So let me call it as I see it: If you ever want to get on the cover of Forbes, you won't get there by taking their advice.

While they're telling you to play the game, the personalities that grace their cover serve the game.

In other words, want to be Forbes' next cover model? SERVE the financial industry, DO NOT INVEST in it.

If you're confused at what am I referencing, take a look at this video by Forbes.

It's aptly titled "How to Get Rich…" and features your usual financial industry megaliths, like hedge-funder Meredith Whitney and John Bogle of the mutual fund giant, Vanguard.


I'll spare you 5 dreadful minutes of watching: It basically advocates giving up your financial future to the stock market and the job market, artfully brewed in with a bunch of frugality and penny pinching, deferred living, mediocrity, and of course, the holy grail of all billionaires-- 401(k) investing.

*Cough* *Cough*



In other words, your innovative and guaranteed method for getting rich is to trust Wall Street and the unpredictable markets that serve them. Yup, the soup-De-jour of Slowlane theory: The 50 year plan of work (assuming you stay employed) the 50 years of stock market investing (assuming the market never crashes) the 50 years of patience (assuming you don't die) and then of course, at 70 years old you suddenly will feel a burst of energy and finally get to enjoy your millions (assuming the Federal Reserve hasn't hyper-inflated it).

Mr. Bogle even goes as far to say that you shouldn't even look at your 401(k) for years. Yup, ignore it folks. Pay no attention to that man behind the curtain!

Wow. That must be Money Management 101, Slowlane style!

But I guess that's pretty easy to say when you're nearly 85 years old and the founder of a multi-billion dollar mutual fund company. Sorry John, but I like to watch my money, especially when I hand it over to a billion dollar corporation with fiduciary responsibilities.

Now for the interesting part of this story.

It isn't the video or the advice, but that it contradicts everything a Forbes success story (supposedly) stands for.

Now take a look at this Forbes article.

The Youngest Billionaires Under 40

http://www.forbes.com/sites/ryanmac/2014/03/03/the-worlds-youngest-billionaires-2014-31-under-40/

Take a minute or two and scan through the list.

Read their bios.

Read their stories.

Notice the pattern, but more importantly, notice what is MISSING.

See any mention of 401(k)s? See any mention of "I saved my nickels and dimes for 50 years? " See any mention of indexed mutual funds?

The Forbes Billionaires all got rich through ENTREPRENEURSHIP (either directly or indirectly through inheritance) and not specifically anything mentioned in the Forbes video. Does the advice regurgitated in the video actually come into play for ANY Forbes cover millionaire or cover billionaire?

The truth is… IT DOESN'T.

By backing shit content like this, it appears that Forbes doesn't want YOU to have any chance in hell to appear on their cover. If Forbes billionaires and Forbes millionaires don't follow the Forbes advocated method for "getting rich", why should you? Forbes personalities drive their own financial future through leveraged assets (either corporate owned or personal brands) not by giving it up to Wall Street.

The grand hypocrisy is that the people who are RUNNING THE HEDGE FUNDS show up on the cover of Forbes, not the people who are investing in them. Yup, the people who grace the covers are those who serve the game, manage the game, and sell the game-- not the poor saps who are attempting to use these tools as a 50 year gamble on wealth creation.

forbesCoverAdvice.gif

Ooooooh??? What's that I hear? Oh here it comes…

I hear Slowlaners screaming their poster child, Warren Buffet.

Please stop.

Do you seriously think Warren Buffet is a retail stock investor?

He's not.

He's an activist investor which means he buys so much stock he gets LEVERAGE and with leverage he gets seats on the board, or management control. Shall I repeat that? CONTROL. When guys like you and I buy stock, we get no control other than the buy or sell button at E-Trade and a piss-ant shareholder vote which means nothing. Does the advice in the video give you any type of control? Other than buy or sell?

Nope.

Welcome to 50 years of hope and pray.

You see, you don't need me to expose the hypocrisy.

Look at any Forbes millionaire/billionaire list and you'll see leveraged entrepreneurship, innovation, and controllable Fastlane mathematics. Not stocks. Not 401Ks. And not eye-gouging frugality.

So...

What if we helped Forbes out here and dropped a few zeroes and subtracted ten years?

The headline would now read:

"The Youngest Millionaires Under 30"

Think the results would be any different?

Nope.

You'd mostly have a list of entrepreneurs, athletes, celebs, and early-entry start-up employees. Think you'd hear about 401(k)'s and penny pinching? Maybe about some great mutual fund or dividend paying stock?

Doubtful.

And if there was an outlier that fit that description, let me give you a little sampling of what you'd hear:

  • "We haven't ate at a restaurant since 1999! Its so fun to eat at home!"
  • "We don't have cable TV or any of those movie channels! We just peep through our neighbors' windows to get the latest Breaking Bad episode"
  • "We walk down to the I-15 Interstate and scrape up roadkill for dinner -- it certainly saves on our meat bill!"
  • "Our car has 193,000 miles on it! Sure we get stranded every so often but the walking keeps us in shape!"

Folks, if you want to "get rich" and wait 50 years to find out, just like the video professes, listen to people who have a vested financial interest in your belief of fairy tales and unicorns, the belief onto which the system works.

Meredith Whitney, John Bogle, and your typical band of Slowlane gurus want you to believe that the stock market will make you rich-- because selling it makes them rich.

While I'm not uber-rich (nor do I expect to be on the cover of Forbes anytime soon) I retired a multimillionaire at 37 years old. Being able to retire young had nothing to do with stocks, nothing to do with mutual funds, nothing to do with IRAs, and had nothing to do with frugality. In other words, it had little to nothing to do with the crap spewed in this video.

Instead, retiring early had everything to do with entrepreneurship and controllable leverage, the same type of controllable leverage these financial industry stalwarts are using to your disadvantage.

So if this video isn't the answer… WHAT IS?

Here are 5 guidelines that will help you avoid the 50 years of hope and pray, and give you a fighting chance to live the dream.

  1. Ignore advice from people who are deeply entrenched in the financial and banking markets, markets that profit from your belief of the 50 year lie of "getting rich". I'd hate to see you in 50 years and say "I told you so". Don't take 50 years to find out it doesn't work, at least not as sold.

  2. Start a business that adheres to the 5 Fastlane Commandments of entrepreneurship as identified in the book, The Millionaire Fastlane: CONTROL, ENTRY, NEED, SCALE, and TIME. This gives you the best chances are creating a successful enterprise that is sustainable, and one that changes your life forever.

  3. Wealth is NOT created on DEFENSE (cutting expenses and mindless frugality) it is created on OFFENSE (exploding income and/or asset values).

  4. To explode income (or asset values) you must detach yourself from TIME, in other words, detach yourself from TIME-BASED income. That is done by innovation and creative structures that exist separate from your time. Such things that immediately come to mind are product inventions, food stuffs, creative endeavors, websites, apps, and software. Making $60K/year at your cushy job and using YEARS as your wealth multiplier isn't going to cut it.

  5. One piece of advice the video did get right was SAVING. Once your income ascends on an geometric or exponential scale, you must control your spending and never spend more than you earn. Having earned six-figures monthly, I can tell you it's easy to be enamored with the freedom to buy whatever you want. Please do not. Instead of "saving 10%", save "70%" of your income. When the big tax bills come around you'll be happy you did. If your company profited $100K/mo, how long would it take for you to become a millionaire? 15 months? Or 50 years? (Assuming you get help from your 401k friends?)

Follow the 5 guidelines above and give yourself a fighting chance to be Forbes next cover model.

Follow the video's advice and well, you can always go on that dream vacation in 50 years... assuming you're even alive.




NOTES AND DISCLAIMERS:
  • I am a Vanguard customer and have great respect for Bogle and Vanguard. However, I use Vanguard to generate income, not wealth.
  • I am a Forbes reader and generally think most of their content fits a Fastlane modality. I would even write for them pending a memory wash of this video. However after this piece, I think we can throw that idea out the window.
  • After I retired, I set off to become a writer, specifically, a screenwriter. However, after the success of my first book project (The Millionaire Fastlane) that idea was put on the backburner to further promote entrepreneurship, specifically, Fastlane entrepreneurship.
 

Don't like ads? Remove them while supporting the forum. Subscribe.

Last edited:
  • Thread starter
  • Admin
  • #3

MJ DeMarco

Administrator
Staff member
EPIC CONTRIBUTOR
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Jul 23, 2007
31,156
116,049
3,751
Fountain Hills, AZ
I have a new plan to break friends and family out of the matrix.

Unfortunately something like this rarely will convince them. The brainwashing is so thick, it sticks.

Your best bet to get them to see the truth, is for you to live the truth.
 

IceCreamKid

With Great Power Comes Great Electricity Bill
EPIC CONTRIBUTOR
Read Millionaire Fastlane
Speedway Pass
Jun 8, 2010
900
18,847
3,723
California
I have a new plan to break friends and family out of the matrix.

Bro, I tried that and realized that I cannot raise the dead. The last time I heard of someone raising people from the dead was Jesus Christ himself.

Just keep making your swiss cheese and they'll start wondering hmmm this guy Enki is doing something differently and achieving better results. Perhaps he might have something worth believing in.
 

nordien1978

Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Apr 5, 2013
29
37
26
Hi MJ,

I totally agree with your thinking and it is very slow lane tactic they are selling.
If you look at youtube video how some of the individuals are targeting the new generation of youth trying to get into the market place and selling old ideas of investment that doesn't work.
I was thinking they want new capital to be injected from the new generation and maybe existing generation to play with on wall street.
Because the world already got Financialy burned in 2008 and are hesitant to invest.

Again thank you for your post most inspiring and Love this Forum.

Regards,
Nordien - Netherlands
 

Silverhawk851

Platinum Contributor
Speedway Pass
Sep 22, 2012
862
4,028
1,006
Toronto/Traveling
This was pretty explosive! I have a new plan to break friends and family out of the matrix. I'm going to make them watch the forbes video. Then after they are nodding in agreement I'm going to direct them to this page.

The crazy thing is, alot of them will believe the video...then COMPLETELY agree with what MJ is saying and Bash the first article to death, hollering about how jobs will never make you rich.

Then they go about doing the same robot shit they've been doing every day.

LOL. brain-melting.
 

Silverhawk851

Platinum Contributor
Speedway Pass
Sep 22, 2012
862
4,028
1,006
Toronto/Traveling

lleone

Bronze Contributor
Read Millionaire Fastlane
Sep 7, 2011
163
134
86
New York
Corporations love this stuff because it keeps you in their clutches. Keep contributing to that 401K and buying company stock. They hope you overextend on cars and mortgage payments so you can never leave. It becomes too risky since you're in so much debt. Don't get caught up in keeping up with the Joneses or you'll forgo your future and trap yourself in the slow lane forever. Awesome post.
 

brandonrush

Bronze Contributor
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Jul 23, 2012
230
254
181
Louisiana
Corporations love this stuff because it keeps you in their clutches. Keep contributing to that 401K and buying company stock. They hope you overextend on cars and mortgage payments so you can never leave. It becomes too risky since you're in so much debt. Don't get caught up in keeping up with the Joneses or you'll forgo your future and trap yourself in the slow lane forever. Awesome post.

I was a finance manager at a car dealership and did quite well financially, well enough to pay for my first house cash. Once I got married and needed more room(more room for crap) I took out a mortgage on a new house. When the wife of the dealer I was working for heard I was buying a house she says "Great! Now you REALLY need to hustle and bring in more contracts! I love when my employees have notes to pay!":vomit: :puke:
 

Don't like ads? Remove them while supporting the forum. Subscribe.

Last edited:

Mr. Tycoon

New Contributor
Mar 6, 2014
12
11
14
39
London ,UK
Very similar with the guys on Mr.Olympia ..

You want to win Mr.Olympia?..just sleep ,eat,train and buy vitamins and proteins from this company and You will be like Me .

Yeah,right..just they forget to mention about steroids,GH,etc/(the fast line method)
 

Magik

Silver Contributor
Read Millionaire Fastlane
Summit Attendee
Speedway Pass
Sep 23, 2013
338
851
321
Societal programming is not a term I hear very often anywhere, yet it is the BIGGEST ENEMY to most people's freedom, financial future, and happiness. Following the herd will almost always get you lost. I have a general rule I live by (yes, there are exceptions here and there): look at what the herd does, the do the OPPOSITE of what the herd does, then fine tune as needed. Yes, I'm generalizing a bit, but if you do that, you will be better off than most. I look at it this way: If most people are broke, unhappy, and unfree, then I need to make sure I behave differently than they do, or I will get the same crappy results.

Great article!
 

Jakko

Contributor
Sep 2, 2007
66
35
60
I looked at the Forbes Richest People list one day and after I read the background info of the people in it, I began doubting everything my parents (who practiced medicine) and the society told me.
 

Mr. Tycoon

New Contributor
Mar 6, 2014
12
11
14
39
London ,UK
I was a finance manager at a car dealership and did quite well financially, well enough to pay for my first house cash. Once I got married and needed more room(more room for crap) I took out a mortgage on a new house. When the wife of the dealer I was working for heard I was buying a house she says "Great! Now you REALLY need to hustle and bring in more contracts! I love when my employees have notes to pay!":vomit: :puke:

Haha..so true

My brother have a nice job(slowlane) ..just married,a new house(with the money from the bank-of course),nice holiday every year,good position in the company (boss),everything wonderful for him ..poor guy

He don't realize he's a slave(worker) for somebody else.

My whole house its just a room,no car payment,no credit from the bank ,no useless holidays, on a crap job,no wife to feed with money to keep her in a good mood..I'm happy with my fastline mentality and little cash in my pocket (my own money).

The most powerful tool in the galaxy its a free mind. You already are richer than most people in the world.
Now,its my choice to be a leader or a zombie.
 

wilddog

Bronze Contributor
Speedway Pass
Sep 3, 2013
235
421
185
Toronto
My brother is a staunch Slowlaner. He's cheap as hell, enjoys playing the markets, and has a well paying slowlane job. I'm dying to get him a copy of TMF, but I know I'd be wasting my breath. The Slowlane is like any other indoctrinated institution, it takes VERY compelling evidence to break. I know that the only way I'll break him is by successfully living the Fastlane.
 

ExecutionisKing

Bronze Contributor
Read Millionaire Fastlane
Speedway Pass
Jan 3, 2014
90
116
134
MI
Outstanding post, MJ. Every time I read one of these "articles" you've written, I have to consciously slow myself from reading too quickly, because there are so many insightful and clariying truths to comprehend. I end up needing to read it all at least twice.

Your best bet to get them to see the truth, is for you to live the truth.

Classic, in a good and proven way.
Traditionally, are sidewalkers the only one's who gravitate towards "blaming" someone's success on luck or chance, only seeing the event?
It seems like going the opposite way of family and friends, and then later taking off like a rocket would give them whiplash from turning around to watch you takeoff..
I'm wondering what excuses they might make to justify why you were an exception and how they couldn't succeed similarly.

I do this myself, I know. Though I tend more to think about how brilliant an idea was (and often, how far above it is over ideas I've thought of- which is just a LIMITING EXCUSE, I'm realizing) and then try and align my thought process with what I observe the company did when they made the decision to go in the direction they're in. Really just trying to analyze their improvement (or reuse) of a product in a new way, along with the strategy process they used, to see how it could solve needs in a different industry. So I think it helps me, in the end.
 

100k

Gold Contributor
Read Millionaire Fastlane
Speedway Pass
Oct 20, 2012
1,400
2,002
576
Great article M.J

Is it just me or does it seem like towards the end of the video one of the wizards was about to let the bag out of the bag, but was rudely interrupted by the interviewer (BE REALLY NICE - cancel it) around 3 min 18 sec.


Thanks again, you will change the world - and will probably create thousands of millionaires for years/generations to come with your generous, mind blowing information.
 
S

stranger

Guest
Really, there are few people who make value. Most only make money. I mean the people in the Forbes' list.
 

DeletedUser394

Bronze Contributor
Read Millionaire Fastlane
Mar 24, 2008
0
419
0
You can't make money unless you provide value.

If someone gives you their money, it's because you are offering a product or service that they value more than the money they are giving up.
 

Don't like ads? Remove them while supporting the forum. Subscribe.

S

stranger

Guest
You can't make money unless you provide value.
You can also make money unless customers have no choice. Sorry, but look at businesses of the richest men on the planet. They create a need and then provide "value".
Again, I didn't mean every richest person.
 

DeletedUser394

Bronze Contributor
Read Millionaire Fastlane
Mar 24, 2008
0
419
0
You can also make money unless customers have no choice. Sorry, but look at businesses of the richest men on the planet. They create a need and then provide "value".
Again, I didn't mean every richest person.

Let's take the top 10.

1. Bill Gates: Microsoft. HUGE value provider. I use word/excell every day among other things.
2. Carlos Slim: Provides telecom services to millions of people in poorer nations across the globe. Now everyone and their grandmother has service.
3. Warren Buffet: Berkshire. Enough said. Helped millions of investors to make tons of money. Provides jobs for hundreds of thousands of people through all of his subsidiaries.
4. Ortega: Zara. Now everyone can have cheap clothing that looks stylish.
5. Larry Elison. Oracle. I never really understood what that company is about so I can't comment.
6 & 7 Koch brothers. Dude's own multiple successful companies providing products and services to industry and the masses.
8. Walton. Who in this world hasn't shopped at walmart? Place employs 2 million people. It's a powerhouse.
9. Bettencourt. L'oreal. Helping women the world over look beautiful. Massive reach and client base.
10. Adelson. I love gambling, so do many people. He owns and develops beautiful casinos across the world that provide great experiences for millions of people every single year.

These people above are changing the world and are democratizing services and platforms previously unavailable to the masses.
 

m52go

Live free or try
Speedway Pass
Feb 21, 2014
153
247
169
This is an old thread but since Bogle was mentioned I want to add that he's publicly commented on the BS involved in 401(k) plans. The numbers are startling, and should make anyone who pays investment fees think long and hard:

So if I do your average, what percentage of my net growth is going to fees in a 401(k) plan?

Well, it's awesome. Let me give you a little longer-term example. The example I use in my book is an individual who is 20 years old today starting to accumulate for retirement. That person has about 45 years to go before retirement -- 20 to 65 -- and then, if you believe the actuarial tables, another 20 years to go before death mercifully brings his or her life to a close. So that's 65 years of investing. If you invest $1,000 at the beginning of that time and earn 8 percent, that $1,000 will grow in that 65-year period to around $140,000.

Now, the financial system -- the mutual fund system in this case -- will take about two and a half percentage points out of that return, so you will have a gross return of 8 percent, a net return of 5.5 percent, and your $1,000 will grow to approximately $30,000. One hundred ten thousand dollars goes to the financial system and $30,000 to you, the investor. Think about that. That means the financial system put up zero percent of the capital and took zero percent of the risk and got almost 80 percent of the return, and you, the investor in this long time period, an investment lifetime, put up 100 percent of the capital, took 100 percent of the risk, and got only a little bit over 20 percent of the return. That is a financial system that is failing investors because of those costs of financial advice and brokerage, some hidden, some out in plain sight, that investors face today. So the system has to be fixed.

http://www.pbs.org/wgbh/pages/frontline/retirement/interviews/bogle.html#2

And for the wealthy on here, you're not safe either, because as you may know, hedge funds are manager compensation mechanisms first and foremost, not client investment vehicles...relevant Forbes article:

http://www.forbes.com/sites/stevede...s-transfer-wealth-from-investors-to-managers/

Basically most of finance on the buy-side is complete nonsense.
 

Owner2Millions

Bronze Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Feb 21, 2017
144
141
83
Chicago
Sorry to bring up a old thread. But this thread really hit come to me as I'm reading the forums. As a person that's trying and will succeed to become a fastlaner I agree with everything that was said in this thread. The process is really difficult and I'm still early in my process of trying to address a huge need in the world and solve it via software. I try not to get so hung up on reading so much info because application trumps reading. Sometimes it hurts reading thru the threads when you want to succeed so bad. So bad to help your family and solve some of the worlds problems. But then I realize it's apart of the process and to never give up.
 

P789

New Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Sep 23, 2020
38
14
18
Legazpi, Philippines
This is what I thought after I read these articles related to frugality,

"If their system actually worked, why bother share it to others if they are too busy to save and invest the money into the stock market?"
 
Last edited:

Sponsored Offers

  • Sticky
MARKETPLACE Fox Web School "Legend" Group Coaching Program 2020
How much it will cost if I go for a new setup. I was looking for such ideas and I want to take...
  • Sticky
FEATURED! Introducing... WEALTH EXPO$ED, A Short Story By MJ DeMarco
Finally! I just launched a short story on Kindle (FREE if you have Kindle Unlimited)! After...
  • Sticky
MARKETPLACE You Are One Call Away From Living Your Dream Life - LightHouse’s Accountability Program ⚡
I planned to make a separate post for this video but it is useful here as well for anyone...
  • Sticky
MARKETPLACE Lex DeVille's - Advanced Freelance Udemy Courses!
Last promo of the year.. Get the training you need now or miss it. Promo Code: FINALHOUR...
  • Sticky
MARKETPLACE Kill Bigger Incubator
UPDATED POST: Hey Guys! I wanted to give a quick update on what this program has become. In...
  • Sticky
MARKETPLACE Grow Your Business With a Book (An Unorthodox Marketing Strategy That Built One of the Largest...
Are you looking for a new, lesser-known but potentially very lucrative source of leads to your...



Forum Sponsor

sponsor

New Topics

Fastlane Insiders

View the forum AD FREE.
Private, unindexed content
Detailed process/execution threads
Monthly conference calls with doers
Ideas needing execution, more!

Join Fastlane Insiders.

Top Bottom