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Sidewalk It's too hard! I quit! I'm done!

Discussion in 'Chat Scripted Dogma/Indoctrination' started by MidwestLandlord, Jan 21, 2017.

  1. MidwestLandlord
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    MidwestLandlord Legendary Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR

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    Sidewalkers in my life are getting on my nerves, so here's my rant of the day:

    A friend of mine is a high-income sidewalker. He is behind on his bills. So he did the smart thing, and went out and bought a $1,500 pure breed Great Dane puppy. Can’t flaunt his mad cash with a $120 low-mileage pup from the humane society afterall…

    I asked him why he didn’t invest his money or start his own business. His response: “That’s too hard!”

    Translation?: “I don’t value my freedom”

    The sidewalk is alive and well in the U.S. of A!

    Incomes:
    Median Household Income: $49,445 (1)
    People in Poverty: 46,180,000 or 15.1% (1)
    Average with HS degree: $38,102 (3)
    Associates degree: $43,377 (3)
    Bachelor’s degree: $64,074 (3)
    Master’s degree: $77,285 (3)
    Doctorate degree: $101,307 (3)

    Net Worth (all excluding home equity):
    Median Household Net Worth: $16,942 (2)
    Under age 35: $4,151 (2)
    Aged 35 to 44: $14,226 (2)
    Aged 65+: $27,322 (2)

    Average Household Debt:
    Credit Cards: $16,061 (4)
    Auto Loans: $28,535 (4)
    Student Loans: $49,042 (4)
    Mortgage: $172,806 (4)

    Health:
    Men considered to be overweight or obese: 74% (5)
    Women: 64% (5)
    Children: 31.8% (5)
    Male Life Expectancy: 76.3 years (6)
    Female Life Expectancy: 81.2 years (6)

    Hours of indentured servitude (average hours worked):
    All US workers: 34.4 hours per week. (7)
    Full-time worker: 47 hours per week. (7)


    So what about you? Do you see yourself in the stats above? Did some of that hit just a little bit too close to home?

    Do you value your freedom, or is it “just too hard”?

    Do your daily thoughts, actions, and choices reflect how much you value your freedom?

    Do you still play mindless video games for hours on end?

    Do you still waste time on social media and finding hilarious memes?

    Do you read and educate yourself endlessly and never take action?

    Do you buy stuff you really don't need and can't afford?

    Do you still dream about winning the lottery or having that one epic idea that suddenly makes you wealthy?

    Well…do you?

    Here’s a hint: Your daily thoughts, actions, and choices ALWAYS reflects EXACTLY how much you ACTUALLY value your freedom.

    So let me ask a better question: Does your daily process PROVE that you value your freedom? Which road does your daily process put you on? If it’s not the Fastlane, how much could you really value your freedom?

    Or maybe, like my buddy said...it’s just too hard.


    (1) Income, Poverty and Health Insurance Coverage in the United States: 2010 - Income & Wealth - Newsroom - U.S. Census Bureau
    (2) Wealth and Asset Ownership - People and Households - U.S. Census Bureau
    (3) Personal Income: PINC-01
    (4) NerdWallet's 2016 Household Debt Study
    (5) Overweight and Obesity Statistics
    (6) U.S. life expectancy declines for the first time since 1993
    (7) Turns out Americans work really hard...but some want to work harder
     
  2. juan917
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    juan917 Silver Contributor Read Millionaire Fastlane Speedway Pass

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  3. MidwestLandlord
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    MidwestLandlord Legendary Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR

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    "Living from paycheck to paycheck despite having a decent income is especially an issue among millennials – those 18 to 35 years old. According to a recent survey by LendingTree, 44% of millennials earning between $100,000 to $149,000 live paycheck to paycheck. Interestingly, just 33.5% of those earning $50,000 to $75,000 said they lived that way.

    “A wife says, ‘I understand my husband works really hard and I am home taking care of the kids, but our friends across the street have similar jobs and they go to Hawaii every year. Why can’t we? They got a really nice car. Why can’t we have a really nice car? We are the same people.’ It’s monkey see, monkey do.”


    From that article ^^^

    The sidewalk does not income discriminate.

    Most people should be in the slowlane. There is nothing wrong with that for sure. The fastlane is super hard, I still have a LONG way to go. The fastlane is definitely not for everyone.

    But, no one should be on the sidewalk.
     
  4. G-Man
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    G-Man Legendary Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR

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    I clearly don't have the cajones for the slowlane. I seriously think I'd have to be institutionalized if I had consumer debt like that.

    Also, who are these people that only work 35 hours a week? How can I have their life?
     
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  5. MidwestLandlord
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    MidwestLandlord Legendary Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR

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    Haha, yeah I'm the same way. A car loan that's half of my yearly income? WTF??

    I think the 35 hours is average of all hours worked. So 47 hours average for full-time, assume an average of 20 hours for part-time = 33.5 hours average. Close to the 35 total hour average. I couldn't find a figure for average hours for part-time only.

    The only personal debt I have is a mortgage for $68k on a house worth $140ish. All other debt have attached businesses that make enough revenue to at the very least cover debt service.

    I can't imagine all that debt. I'd be so stressed I'd never sleep again!
     
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  6. Valor
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    Valor Silver Contributor FASTLANE INSIDER Speedway Pass

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    Very interesting.

    Probably has something to do with identity level shifts of these groups of people.

    The people making $100k-$149k probably figure they've hit the famous $100k number and now they're "making the big bucks", so they have to live like they're making the big bucks, where the people in the $50k-75k group don't feel this sense of identity level pressure to live up to a certain image.
     
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  7. G-Man
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    G-Man Legendary Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR

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    I have 10k on a business credit card and I'm already there. Sometimes when I'm pissed off I just log onto chase and stare at that balance. Probably not a healthy way to handle it :clench:
     
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  8. FreshStart87
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    FreshStart87 Bronze Contributor Read Millionaire Fastlane Speedway Pass

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    Why do you feel that the fastlane is super hard? Let's assume you had 10 products on amazon profiting at about 3000 a month each. That would be fastlane and can be done in a short amount of time. I think you have a limiting belief about the fastlane. Im not sure if what I am saying is reasonable, but with all respect i'd like to challenge that belief.
     
  9. TrestonIngle
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    I agree with you on most of the this, but Amazon wouldn't be considered fastlane in its entirety. It defies the law of C-Control. If Amazon doesn't like the way you're doing certain things like incentive-related purchases/reviews, that come into conflict with their terms of service, they can suspend your seller central account and it could take a plethora of time to get them to reactivate it, if at all. In that period, competitors can take sales, customers, rank, etc.

    Don't get me wrong though, in my opinion, the fastlane isn't 'hard'. Its a choice. Its more a question of how 'hard' are you willing to work for what you want and how much of your time(value) are you willing to spend getting there. Along with calculated, relentless action-taking.
     
  10. G-Man
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    G-Man Legendary Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR

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    Getting 10 skus to the point where they're netting 3k/mo each is easy?
     
  11. FreshStart87
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    FreshStart87 Bronze Contributor Read Millionaire Fastlane Speedway Pass

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    I forgot to mention, that i would not put items on amazon without branding them along with an Ecom website.
    I never said it would be easy. I also don't think it would be super hard. I am in the process of doing it. I haven't lived it yet to make a proper assessment.
     
  12. MidwestLandlord
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    MidwestLandlord Legendary Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR

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    I spent a lot of the last couple days thinking about what you said here. I'm glad you said it, it got me thinking.

    I don't think for me that this is a limiting belief. I have some limiting beliefs for sure (@AndrewNC has been helping me with those via PM because he's cool like that) but I don't think that "fastlane = super hard" is one of them.

    If anything, I like that it's hard, because that's a big barrier to entry.

    I was taking to my wife about some various EPIC fastlane challenges I've had recently (once I have some results I'll do an insiders progress thread), after I got done talking she said,

    "Well, that's good"

    Me, "What's good?"

    Her, "All these challenges are good. You thrive under pressure, and you're happier under pressure."

    And she's right. I LIKE that it's hard. I couldn't imagine doing anything else but being an entrepreneur.

    Now I just need to see some freakin' results! Gah!

    Thanks for challenging my thoughts @FreshStart87
     
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  13. Nicoknowsbest
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    Nicoknowsbest "Next time, there will be no next time" - Eminem Read Millionaire Fastlane Speedway Pass

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    You know what's hard?

    It's hard to be 60 and still getting up at 5:30 a.m. - not because you want to, but because you have to.

    It's hard to be 60 and have nothing but debts.

    It's hard to be 60 and instead of taking your grand-children to the park, you are grinding away at your job, because yeah, the debts.

    It's hard to be 60 and have a wife that needs medical treatment and not be able to give it to her.

    It's hard to be 60 and not be able to jump on a plane to see a human being you love on the other side of the planet.

    It's hard to be 60 and not be able to give yourself the medical treatment you so desperately need to make it a few more years.

    It's hard to be a consumer.

    It's hard, because you get the bill at the end of your life.

    It's much harder to be a producer, in most people's minds.

    Is it though?

    Is working a few years harder than anybody else so much harder than walking around your whole life with chains so heavy you can hardly breath?

    Is not being able to sleep at night for years because you don't know how to feed your family the next day so much easier?

    Is seeing loved ones grow older or die in front of your eyes without making their life worth living so much easier?

    Is not being there because you had to work so much easier?

    I don't think so.

    Fastlane.

    Freedom.

    Forever.
     
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  14. FreshStart87
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    FreshStart87 Bronze Contributor Read Millionaire Fastlane Speedway Pass

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    I guess limiting beliefs may not be the correct choice of words. I also think that what I meant to say is that the fastlane may be full of opportunities that may not be hard, but left untapped because society has told us to go to school and get a job, which is what everyone does. I am also happy that it is this way, because imagine if you learned to run an Ecom business in high school. The market would be completely saturated.

    Btw I read your other post and I think you may already be on the fastlane. Seems to me like you earn plenty of money, own properties, and your home doesn't cost much. I live on Long Island where a cardboard box cost 650k.
     
  15. FreshStart87
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    FreshStart87 Bronze Contributor Read Millionaire Fastlane Speedway Pass

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    @biophase Is this doable, or am I just dreaming?
    At the risk of being made fun of, I want to ask someone who really knows.
     
  16. MidwestLandlord
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    MidwestLandlord Legendary Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR

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    Hmmm...

    Not yet I'm not. But, I'm getting there.

    My definition of fastlane:

    1) Passive income that covers all of my yearly expenses (90% passive minimum)

    2) Active income that covers my need to travel the world and further builds my passive income system (not trading my time for money like I do now, but trading my results for money)

    My passive income system is in place, but I am tweaking it based off feedback here. It covers like 60% - 65% of my expenses roughly.

    It's my active income system I am working on.

    It'll be interesting to see what @biophase says, but I don't see why not.

    40% margin nets $360,000 a year over COGS on only a $900,000 gross yearly revenue. Of course that's before expenses and taxes.
     
  17. Valor
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    Valor Silver Contributor FASTLANE INSIDER Speedway Pass

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    I'm involved in Ecommerce and Amazon as well (although on a much smaller scale than biophase), so I'll throw in my 2c.

    10 SKU's or $30k/month within 1 year? I'd say it is achievable given you have a good foundational knowledge of what you're doing, and the capital/willingness to test products rapidly, cut your losers, and scale your winners.

    Of course, you have to allow time for the sales rate of your products to increase too before you know for sure if you have a winner or loser.

    Is it easy? What's hard about product research, importing/manufacturing, product photos, copy, advertising? They're all pretty easy and straightforward things.

    The Bottom Line

    30 SKU's in one year means you need to fund the inventory for all your winners as well as the tests/samples for all your losers.

    Assuming 40% profit margins, you're going to be spending somewhere in the area of $15-20k a month in buying inventory to achieve these numbers. Plus you need to be constantly spending money on product development, samples and tests so tack that on too.

    It's easy work, but it's hard to accomplish within a year without significant capital.

    I'd say this is a case of overestimating the first part of the exponential growth curve that MJ talks about a lot...$30k profit/month within 1 year isn't likely, but 3-4 years from now, it's a lot more likely to be doing $120k/month. If that makes sense.

    Edit: I reread this, and I don't mean to make this seem easy - $120k/mo (or even $30k) is still tough to accomplish, even though the work itself isn't necessarily hard.
     
    Last edited: Jan 23, 2017
  18. FreshStart87
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    FreshStart87 Bronze Contributor Read Millionaire Fastlane Speedway Pass

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    This is exactly how I see it, and 3-4 years is short time for those kind of earnings.
     
  19. Yoda
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    Yoda Gold Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

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    The worst part is... the upper echelon is not even in trouble yet. If they're paycheck-to-paycheck now... they're still afloat.

    Imagine when the House of Cards falls and the income isn't there.

    One of the greatest failures of our schools today is not teaching basic financial principles. Honestly, I remember in Junior High, we learned how to properly fill out a check before we ever learned what a budget was. Interesting, no?

    Teach your kids about money. Teach yourself.

    At the end of the day, we can all point and boo and hiss, but some of us are still in those boats, whether you admit it or not. Yet, if there's anything we can control, it's ourselves. Either submit yourself to the process of paddling to shore, or get ready to weather some heavy storms.

    And, even if we teach our kids, they'll still need the discipline to go along with it. So will you.

    You can't point at advertisers or marketers. You can't point at the neighbors. You can't point at the president, no matter how large your sign at the march.

    You write the checks.

    You sign the loans.

    None of the shit those people are buying makes them happy.​
     
  20. G-Man
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    G-Man Legendary Contributor Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR

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    Repped.
     
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  21. Mattie
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    Bottom line you have to remember you have a growth mindset, conscious, and aware. While in some cases other people have arrived at the same level of awareness. They may be at a different phase of the game of life. I get your point elaborating on side walk, but at the same time, I have to respect the process of reaching your greatness. How many millionaires and billionaires reached their greatness over night? I believe every single one of them had to go through different phases of reaching their full potential.

    For natural states:
    Instinct
    Consensus
    Herd
    Conformity

    The phases we go through in life
    1. Mechanical Living (Surviving)

    2. Educate one's self and becoming aware of how the systems in society and culture work.
    Aware of social positions and status. Learns how to navigate through chaos and confusion, fear, anxiety, stress, and climbing the ropes to self-actualization.
    Blind leading the blind in some cases. Who do you listen too?

    3. Self-actualized. Creative Vision. Individualized. Redistribution Independent and interdependent, creates their world versus allowing others to create it for them.

    Still there is a hierarchy of those in authority and who are at the top of the world. In retrospect, if you're writing threads like this and not at the top of the food chain, there's always someone higher up who can then turn around and point out your weaknesses and strengths.
     
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    Dylan_91 Bronze Contributor Read Millionaire Fastlane I've Read UNSCRIPTED Speedway Pass

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    Well written...
     
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    @MJ DeMarco Featured post material here.
     
  24. MJ DeMarco
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    MJ DeMarco Raving Lunatic Staff Member Read Millionaire Fastlane I've Read UNSCRIPTED FASTLANE INSIDER Speedway Pass LEGENDARY CONTRIBUTOR Summit Attendee

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    Admin Post
    Featured+!
     
  25. Nicoknowsbest
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    Thank you guys :smile2:
     
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