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DustinH

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My God! Reps+!!!!
You know, that formula for wealth, 2X=F/(H+P), you suggested is the same one I target and subscribe to mentally besides the MJ equations!
Except I never took the time to put it algrebraically. Thanks a bunch! But to be safer, I actually target up to 3X at full potential so that my Fastlane has a slightly higher ceiling range! Cardone fans might scream '10X', but I think I'll be realistic.

Crazy story on no F*cks given.
Love it! I did similar networking scenerios at youth uniform group conventions back in high school, and it was cutthroat, but beat mediocrity as a nerd student. I'm not going to derail this thread with my story. Just don't give a F*ck to the SCRIPT.

EDIT: Very good read! In line with the money as a money tree strategy, as well as some finance management strategies. This will help me well to plan for a degree of financial security before going for bigger targets. Very balanced know-how along with the big picture of the psychology of 'millionairism' (that's what you call it?) to pair with finances.

This will be on my to-go-to read list besides TMF and UNSCRIPTED . Thanks again, and I hope you expand further on similar concepts...there's an opening.

I am a math/science guy so I love formulas. This is a great and simple one. I would agree that I like the 3X better.

The 10X Rule is not a money formula. It's an action formula. To get where you want to go you have to 10X your activities to get there. So, if you calculate that you need to have 1,000 e-mails in your database for your online product to make your desired amount of money, you really need 10,000 e-mail addresses to make sure you reach your sales goal.
 
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ZF Lee

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I am a math/science guy so I love formulas. This is a great and simple one. I would agree that I like the 3X better.

The 10X Rule is not a money formula. It's an action formula. To get where you want to go you have to 10X your activities to get there. So, if you calculate that you need to have 1,000 e-mails in your database for your online product to make your desired amount of money, you really need 10,000 e-mail addresses to make sure you reach your sales goal.
Agreed.
Not all Fastlane businesses have 100% efficiency or yields, just as conversions don't reach 100% for sales funnels. That is also why most financial advice on crap instruments are bullshit...they aren't 100% efficient and will not perform fully as advertised.
Hence it is better to aim further less you fall short. Even if you should fail, you will fall onto a spot that is higher than mediocrity. Let me illustrate.

You want to cross a big chasm from Mountain A to Mountain B. Specifically, you want to reach the peak of the mountain B.
You have to cross in an air glider. So you launch and fly across the chasm, the wind blowing at your face. But instead of landing perfectly at the peak, you make an unexpected descent and hit a plateau of Mountain B, Camp C, which is fortunately 500m below the peak!
All you need to do then is to trek up 500m! Yay!

But if you thought, 'Oh, peak is too high. Lemme fly down to Camp C. It's easier to reach with my glider.'
And then the wind pushes you down until you land smack at Camp B. Hey, at least you didn't tumble off to your death, but you have 100,000 metres up to the peak to go....FML....

I read some sections of 10X...good read, but I prefer Grant's sales books and free videos. I might put 10X on the same category as the pareto principle and Outliers by Malcolm Galdwell in terms of white paper concepts.
 

DustinH

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I like the section in The 10X Rule when Grant talks about the different types of action.

You can do nothing
You can retreat
You can take little action
You can take massive action

The best point is that you can choose to do any of those, but they all require the same amount of time and energy. So, you're better off taking massive action.
 

V8Bill

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I am a math/science guy so I love formulas. This is a great and simple one. I would agree that I like the 3X better.
Thanks Dustin, you might enjoy the book where I explain there is no 3X.

You're right on the 10X book but I get the comparison often because people think if 2X is good then 5X or 20X or 100X must be better but my formula and philosophy doesn't go down that road as anything above 2X will have zero (or very little) extra effect or benefit. I suggest readers consider doing something else with extra cash above 2X.

If you get some time you might enjoy it. Its quite short at only 2.5 hours long. Like an extended podcast.

I must apologise for bastardising mathematics but i found it was the best way to formularise the concept of a new way to quantify wealth which up till now has only been able to be expressed in fuzzy terms. I thought it was time for a global and universal formula for wealth so I came up with the simplest way to encapsulate what I was feeling.
 
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Rawr

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So you make sure to earn $2 more before you can spend $1 on something extra?
 

V8Bill

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So you make sure to earn $2 more before you can spend $1 on something extra?

Well, it depends on where you are on your "wealthline". If you're maxed out at 2X and you want to increase an essential expense (like move into a better apartment) then yes, you need to stuff the extra into both pockets in order to maintain financial that feeling of wealth because every dollar spent on essentials must be matched by an equal amount of money for fun and luxury.

Let's take 2 scenarios:

1) You're earning $2,000 a week and you only need $1,000 a week for your essential expenses. This means you can spend up to $1,000 on anything that's fun or a luxury (F&L). If you haven't spent your entire allocation yet you can just spend out of your "right pocket". It can be either this week's allocation of F&L or left over from last or previous week's F&L funds.

2) If however you're already maxed out at $1,000 a week for essentials and you want to increase something essential that will (for example) take your essential expenses to $1,100 a week then yes you'll only be able to afford it if you can increase your income by $200 so you can pay for the extra essential cost plus reward yourself for being awesome by increasing your income by double the essential expense ($200) so you're income will need to be $2,200 a week. An extra $100 a week for the "new apartment" and an extra $100 for fun and luxury to reward yourself for maintaining your 2X.

Yep, this makes essential expenses twice as expensive as the sticker price. Makes you stop and think before you just blindly increase your lifestyle as soon as you get any extra money. If you just add an essential expense without "rewarding" yourself with an equal amount of fun and luxury money you will fall back below 2X and lose that precious and hard fought for feeling of wealth-being. This is what people normally do. As soon as they make any extra money they're almost addicted to spending it on increasing their lifestyle. I call this "dragging the lion" and the effect is that no matter how much extra money you make you'll never feel wealthy because your financial stresses are too close and they bring worry back into your life.

Like I've said before, I blame the hashtag #yolo for this behaviour but really it's been the standard way of using money for eons. I think it's time we snapped out of it. The answer to BEING wealthy is to make more money yes but you must allocate that money equally among all your needs and to deny the need for fun and luxury (even just a little bit - e.g. an ice cream or a better cut of meat or premium fuel or giving to those less fortunate, taking a little trip...etc) then you'll end up with the uncomfortable stress of feeling guilty for spending money you "should be saving" or some other old money mindset pattern.

By using the 2X Method forrmula you know exactly how much you can spend on everything including fun and luxury because what's the point of living if we can't afford fun and luxury without guilt? I've had feedback that just understanding how much they can spend on something a little fun or a luxurious has lifted massive amounts of stress off people's shoulders instantly. This is a huge, instant and permanent shift in mindset because now we can start living without stress just because now we understand what to do with our money - no matter how much we make we can all feel wealthy if we follow the 2X Method.

I go into a little more detail in the book but that's the crux of it. Hope that helped. Good question! Thanks for asking it.
 

AlphaWulf

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Hey @V8Bill thank you for the value! I do have one question about your book.

Under essential expenses you have listed: "Payments for debts" but then you have "Paying down debts" listed under non-essential.

So you're saying that if I'm currently stressing about money and not earning 2x, it's better to just make the payment on the debt and still put X into my "right pocket" for fun instead of using it to pay down the debt faster? Asking for a friend who has 4k in credit card debt and is stressing his brains out trying to pay it off.

Genuinely interested in your insight on that.

Thanks!
 
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V8Bill

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You're welcome AW.

That's correct, being in debt isn't a problem, making payments is the problem. If I said to you "you're in debt but you don't have to make any payments ever" you'd have very little stress. I'm not being daft though, I know there is some pain in being in debt even if you don't have to make payments ever again but it's not a stress, it's more like a dull ache. It's similar to the feeling of (let's say you're) making $10,000 a week but your payments on debt are only $50 a week. Would that bother most people? No. And that's exactly what I felt and how I discovered that debt in and of itself isn't the problem.

I was in debt when I was lucky enough to sell my business but the payments were so minuscule and insignificant that the stress wasn't noticeable and didn't affect my happiness at all. It wasn't even on the stress radar, just like all my bills weren't. The debt stress had immediately lifted off my shoulders and I didn't care about the debt any more. I set up an automatic payment from my left pocket (where the money goes for essential expenses) and let it go. I had driving to do. My main concern was keeping my car straight on acceleration - now there's some stress for ya!...lol

Keep reading the book because on page 60 I explain my thoughts on this more fully but I'll copy some of it in here because it's a great question and people reading this thread might not listen to the book.

From page 60...
_____________________________________
2X and Debt

Firstly, debt is not as big a worry as many people make it out to be. The big worry is making the payments. This is what bothers most people about being in debt. The payments reduce your expendable income but with 2X that’s not a problem because you have enough to make your payments and enough to spend on fun and luxury and for you it might be fun or “a luxury” to use that extra cash to pay off your debt. This is OK – do it if it makes you feel happy.

It feels good making extra payments and reducing debt but don’t forget that most people (perhaps not you – but most) enjoy only a very brief amount of time debt free before they go straight back into debt so being debt free (clearly) isn’t always the ultimate goal for everyone.

The ultimate goal is to become free from financial stress so as long as your left pocket is handling the payments ok then being in debt is not really a problem and shouldn’t be a major source of financial stress. Payments are the problem. Making the payments on debt is the real source of financial stress. So don’t worry about being in debt because you may never be out of debt and that’s not necessarily a bad thing. Worry about making the payments.

Think of 2X as a beautiful, green, shady, grassed area that’s only just above your current level – up a small hill. Compare that to trying to become a “millionaire” which is a very difficult and large task and more like trying to build a mountain. 2X (at any level) is nice and comfortable; you know exactly where you are and where you’re going financially and the view up on your little hill is much better already. Once you’re at 2X income and more money comes your way, you can think of reducing your debts, but this time you'll do it with financial comfort and control.

Another problem with debts is that some are so large that you may not pay them off for decades (e.g. mortgages…etc.). If you remain in financial stress while doing that, it seems like a waste of life to me when you could have had the debt for life but never be stressed about it. Because even though you didn’t make enough money to pay it off, you were at least living fantastically (I call 2X at any level fantastic) while paying it off. The first and most important step is to gain control over your financial stress."

...

_____________________________________

I hope that helped. If not, ask me more. Great question. A lot of people worry about being in debt when all they're really worrying about is making the payments. So I put to you, let's stop wasting our lives worrying about something that can be solved by a shift in mindset in the blink of an eye.
 

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@V8Bill

Love the story and the frankness behind it.

Thank you for the book gift. Will have a read over the upcoming weeks.

:)

So, back in 2004 I decided to do whatever it took to get myself to a 3 day wealth education seminar being held in Fiji. The tickets cost $2,000 plus I had to fly there and pay for my room (Sheraton) so I had to raise about $4,000. I was broke, I'd just lost my job in IT and I had no idea how I was going to get there. I'd been following this guy for about 10 months and had bought his home study program (yep, I was that guy) and all I knew was that I had to get to that event because I just knew I'd be able to network with others who were similar to me.

I managed to get there but it was tight (financially speaking), so tight that I couldn't afford the $100 (for charity) final dinner party. A few hours before the doors opened I decided that I couldn't afford not to go but only had about $165 left to my name. I was in a foreign country with very little cash and I was about to blow more than half of what I had left on a $100 dinner - had I lost my mind? Of COURSE I had to go. So I went downstairs, walked up to the greeting table and asked to buy a ticket. It was sold out.

I gasped and begged and there was nothing they could do - sold out. Refusing to take no for an answer I went back upstairs and put on my best flamed hot rod shirt and shorts and decided to just stand at the doors while everyone filed past me. I instructed the staff that if anyone cancelled I wanted to buy the ticket. The room filled while I stood at the door saying Hi to people as the walked in dressed to the nines. My flamed shirt stood out (I have photos) so there was much laughter. People even started pleaded for me to be let in to the staff but nope - sold out.

Then one of the older staff ladies at the desk winked and nodded me in - for free. So cool, I was bouncing. Took a deep breath let it out slowly and walked in (hands up who loves walking into parties alone) looked around and there was only one table left but it was completely empty. Apparently a whole table had cancelled so I had a spot...by myself...at a 12 person table...lol Oh well, better than nothing and I felt good that I was making fate my bitch.

Now, at that pointed I gave more than zero F*cks what people thought of me and I knew I'd feel like a total nork just sitting at a table by myself so I had to think fast. In an instant I formulated what I thought was a perfect plan. I'd mosy on to the buffet all stylish and casual like and grab a plate buying me the time needed for some people to walk in and sit at the big empty table. I'd walk up to them, ask them if this seat was taken and presto - I'd be networking.

Well, no one did. What ended up happening was in my nerves I ended up just piling more and more onto my plate until I had a mountain of food I could barely hold up with one hand. Fortunately just at that time a couple walked in and sat at the table so cool and casual I walked over, delivered my line. They looked at me, looked at all the food on my plate, chuckled and said "sure".

The ice breaker was my telling the story of the last few hours which had us all laughing. I asked "so, what do you do?" (MJ...you'll like this); "I sell insurance on the stock market". I'd only just had an intro seminar to options so selling credit Put spreads was totally foreign to me but sounded interesting so we spoke about that and he quickly explained. Fascinating.

So, where are you guys from? I asked. Ends up we live in the same city and not 3 suburbs from each other. I love shit like that. We had a great time, ended up quite pissed at the bar by the end of the night. Totally memorable night. Changed my life. Because, he'd written and was selling an e-book on his total strategy for $97 which he said he'd send me when the got back home in a few weeks. They were going to extend their tropical island stay beyond the seminar. This was before smart phones so I said cool but honestly I was a bit miffed because I wanted to read more about this "selling insurance" lark right now - not in "a few weeks". I wanted to take action. Lots of action.

When I got back home I was on fire. I felt like a lava ball being shot out of a canon in Fiji and shooting me all the way over the ocean to my home in South Australia where I exploded in a massive fireball of enthusiasm and super fired up (as one does). But I just couldn't wait 2 weeks to find out more. I wanted to know more immediately so I justified saving on the free dinner party and spent the $97 to buy the book. In the next 2 weeks I studied the book and looked up option prices in the newspaper, used my big white board to draw out pay-off diagrams until I understood how selling "insurance" to the stock market worked and I was fascinated.

When he got back I contacted him and he invited me around to his (super nice) house for a coffee. I could feel the big wheels turning and while there I asked if it was ok to ask him a few questions about his method. I wasn't sure how much someone like him would want to share so I started by asking him if he could share his watch-list with me. I knew how credit put spreads worked but wasn't sure which of the 200 top stocks I should be watching. "Sure, I only look at 12 anyway" he said and rattled them off. Major, major leap in understanding...I was taking leaps of learning.

"Is there any chance you could show or send me a few trades you've done before so I can kind of get a feel of how you do it exactly?" I asked tentatively, not knowing how far to push it. "I was going to anyway" he said "It's easier for me to show you anyway. Not only that, I'll go you one better I'll send you my next trade so you can follow along". I was gob smacked. Who does that?

So over the next few weeks he did that. Then, just out of the blue (and because of how incredibly helpful seeing his real trades was to me) I said "you know, I reckon people would pay to watch you trade". He asked me what I meant and I wasn't sure myself so I said "I don't know, maybe to an email list or something? Maybe a forum?" I can remember it as if it was yesterday. He got a real dark look on his face and said "no F*cking way. I'm not getting involved in no forum. They always end up in shit fights - 100% not interested". Ok, a bit of a kick in the balls but I knew the power of forums. I had run a few before and was a huge fan and I knew vBulletin so I made him this proposal.

"What if I run it for ya? I'll do absolutely every single thing. I'll be the website manager in charge of everything. All I'd need from you is the trades you're doing." He paused and stared at me right in the face for at least 10 seconds (count them out) and said "ok, let's do it. I have a buddy who's into marketing, we'll go thirds in a new company, my accountant will set it up.

The next few weeks were a whirlwind of logos, trust deeds and FTP but before the month was out we were live. It was crude but it worked and people were loving it. I was catapulted into being a director of a company that was making pure profit from day one. The only hard costs we had were a dedicated server (I'm ex-IT) and some artwork and other tiny costs. Marketing was a bit of a gift because he was in good with the guy who was running the Fiji seminars and in fact was there as an affiliate teaching the other affiliates on the 4th day all about his Selling insurance method" so we had access to dozens of eager traders.

We charged $97 for the e-book then if they wanted to watch him trade it was $97 a month or 12 months for $997 (buy 10 get 2 free). We never discounted and we never gave any away. That was a great lesson in posture. Rolls Royce don't have discounts, they have waiting lists. We didn't have waiting lists but we had a Rolls Royce. At that time no one was selling signals (that I was aware of) so I felt a bit like a pioneer. From day one it was a total blast.

We were pulling in thousands and thousands and thousands of dollars. I couldn't believe what was happening to me. They couldn't believe what was happening. Every day and often every hour I was being notified of either a new payment or another payment. We used simple Paypal subscriptions. I ran it for about 2 years and for most of that time my share after costs was regularly $20-30k per month. I even started to speak on stage myself (for the first time in my life) and I even ended up talking on the same stage in Fiji the next year. I received a standing ovation for my first public speech...ON THE WAY UP! Then another 20 seconds (at least) of loud clapping, cheering, whistling and wooting at the end and I finished on time and even won an award for "most on time speaker" because I finished almost to the second at the end of my allotted time slot (while every other speaker ran overtime). True story. The shot on my book is of me talking at that event.

So anyway after about 2 years I decided to exit. We'd given 10% share to a guy with a computer science degree to handle all the tech, some months he alone was making $10k for his share. $100k was about our biggest month. I did my sums and thought my 1/3 share was worth (little finger stuck in the corner of my mouth) $1 MILLION dollars! They laughed and they laughed and they laughed...oh how they laughed. Their estimate was about $100k (more money than I'd ever seen in my bank account) but I held on and eventually got $650,000 for my share. I have permission from them to share this when I was writing my book about what happened to me next so it's a matter of public record.

January 1st 2007 I was staring at $650,000 cash in my trust's bank account. I like writing and playing with words amuses me but it's not easy to convey how that felt. I was the class clown, the guy who would've been voted least likely to be considered for to be printed on the ballot of the list of most likely to fail. Average C grade student and my life up until then was one great big throbbing example of what happens when you don't pay attention at school and just F*ck around like it's some big joke - so off to the factory life I went. By the time I'd left the work force in 2005 I'd counted at least 65 different jobs from street sweeper, burger flipper, truck driver, welder, pushing petrol/gas into cars, unemployed many, many times. Just a general working bum.

Anyway, as interesting as that story was, it's what happened after that that's the real story here. Imagine how rich I felt. There was not a shop, department store or car yard I could walk into that sold anything I could not afford. I could buy anything for sale in my city. Even a house or two if I wanted.

The story isn't really about what I've done with the money since then as that's a million little stories but the biggest thing I discovered was that I felt like a millionaire. I felt rich, really really rich! Nothing financial bothered me. All financial stress had immediately been lifted off my shoulders. I bought a supercharged V8 car and drove around the country up and down totally lost half the time with no aims or goals other than to thrash the bejeesus out of my very powerful (ex race) car and hunt down winding roads along the eastern states of Australia. I did that until I blew the engine, rebuilt it for $20k then eventually snaked my way back home.

Over the next few months I entertained anyone who'd listen while I regaled stories of my new found "Urban Wealth" (as I'd coined it) and freedom. Then something started to raise itself in a theme in all my stories and people started to really dig my message. You just don't need to be a millionaire to feel rich or wealthy. Sure there's always room for more money but as far as how much it takes to make you feel like a rich dude or dudette it's far less and financial freedom was much closer than I'd ever imagined because even up to the point of my exit I believed that unless you're a millionaire you're not (nor should you call yourself) a millionaire and everyone knows you have to be a millionaire to be free - right. Wrong.

Anyway, over the next few years as I bumped into and spoke to more and more people about my story (not forced onto anyone - but I was asked about it a lot) people started saying "man you should write a book about this". It wasn't so much about the story of how I made the money but I'd come up with a little formula to try to explain to people how much money you needed (as a minimum) to feel wealthy. I called it "The 2X Method" (pronounced two ex - not two times) and here it is, my own little global formula for wealth.

My global and universal formula for wealth is this;

2X=F/(H+P)

Legend:
X = Essential Expenses
F = Freedom
H = Hobbies
P = Passions


Basically this...

All you need is double your essential expenses (2X) as income to feel wealthy, have the financial freedom to indulge your hobbies, pursue your passions and live an exciting, satisfying and interesting life.

It's so simple. You don't need to be a millionaire to be or feel wealthy. However if you do become a millionaire that's awesome too but just make sure you never spend more than half your income on essential expenses or you'll just feel poor again no matter how much money you're making. I call it "bouncing off broke". If you think it sucks being broke on your current income it's even worse being broke as a millionaire.

I believe (know) that wealth isn't measured by how much money you have. Wealth is measured by how far you are from financial stress. Keep that in mind as you travel down your path to wealth and you'll get there much quicker and can stay there if you like. As long as you have no financial stress you'll feel wealthy. I know this for a fact, have bounced the concept of over 1,000 active entrepreneurs and with an over 99.8% success rate of transforming and influencing people's money mindset, I know I'm onto something.

So, the book I wrote is now (self published), getting great reviews and I'm changing lives. That feels so cool. Anyway, I'm not here to sell anything because I want to actually give you guys the whole book to (hopefully) enjoy. Not only that, I recorded myself reading the book and am super proud to also offer you the audio book as well.

If you want to listen to me reading the entire book to you just click here. It's a 250mb zip file that contains the PDF and the entire audio-book as an MP3 (recorded on a Blue Yeti for audiophiles) which only takes 2.5 hours to read. I call it "movie length". It's best listened to in a single sitting, without distractions, preferably staring out a window with a headset and no distractions. Try not to stop and start it. Think of it as being similar to walking into an auditorium to hear me speak.

Or click here to open the PDF. I will not make any money by doing this but I don't think it fair that my marketing skills (or lack there of) to stand in the way between this important message and you. I'm guessing I'll pick it up on the karmo-go-round later

Thank you @MJ DeMarco for providing us this forum. I came across your book way after I wrote mine (it was finished in it's first form in 2010) I knew we were sympatico and that's why I hang out here. So now it's my turn, this is my gift to you all.

I'd like nothing better than discuss anything and everything so ask away - it's my most favourite thing to talk about, my aim is to speak on stages and podcasts around the world wherever active entrepreneurs gather as I really believe this message is the reason I was placed on this earth (if there is such a thing). I don't mind giving it away to you guys because I know that many of you will dig it.

Ask me anything. It's a great story with loads of great and often eye opening lessons - and I love telling it.
 

V8Bill

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You're welcome MK and FX. I hope it helps.
 

GMSI7D

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There's no way I would ever have set a goal to be retired at 41 when I was broke at 39 - and yet it happened.


* - rentals


are you kidding me ?

that's the most amazing thing i have read on this forum .

ever.


i am here since 01/27/2016. i have never read such an unbelievable thing




.
 

FelipeVilas

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@V8Bill thanks for sharing your story with us. That is very inspiring!

The amount of gems in this thread is so high that I had to open my Evernote and save several things that you and others shared here. Thanks everybody!

I have been reading about and living by the idea of "financial independence" for the last 5 years and I feel very energized by all the discussion going on on this thread. My main goal is to be able to live off my investments and enjoy life with my family, while I am young and not to postpone it until I am 60 and retired.

You love cars and that makes it even more fun to read your posts. My dream is to be able to have my expenses covered so I can enjoy life restoring and driving classic cars. What is the car you drive? Looks like it is a pretty bad a$$ hot-rod! I bet the yellow goes very well together with you flaming shirt :smile:

I am from Brazil and live in Spain now, doing an MBA here. I thought a lot before doing it because I had to get a loan to pay for the classes and at the time I already knew that 9-to-5 in a meaningless job is not for me. My plan is that I can make a good salary and get back to my level of 50% monthly savings, so I can reach my 2x fast. Also I am moving my a$$ now to make at least one of my ideas into reality and this community is helping me a lot to be persistent on it.

Thanks for the book and audio! I will listen to it tomorrow and share the knowledge. I already like the simplicity of your formula and how powerful it is. You deserve all the rep in the world!

Cheers from sunny Barcelona!
 
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V8Bill

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are you kidding me ?

that's the most amazing thing i have read on this forum .

ever.


i am here since 01/27/2016. i have never read such an unbelievable thing.
Nope, it was a Tuesday, December 21st 2004. I keep a spreadsheet that calculates how many days it's been. I'll have to check but I think I'm pretty close to 4,500 "days off in a row" (as I call it).

I was "bouncing off broke" (like many workers are), no savings, no major assets apart from my old Buick Electra and 39 years old. Then I was given some information from a friend about a seminar and course he wanted to do that neither of us could afford (broke) so we went halves. I ran with what I learned, got interested in options, lost my job (but wormed my way back in as a subcontractor) and in October of the same year went to Fiji which is where this story starts and by December I quit working at a job and was making my own money by calling in my trades once a month (I was selling options just like MJ does now).

So technically I didn't retire with full passive income but making a phone call to my broker once or twice a month was retirement for me because all I was concerned with was not ever having to go to no stinking job ever again. I was free.

As I keep saying, big money comes fast. You just have to know how to unleash it.

I even bought long socks and sandals (for a joke). One day I even decided it would be fun to go through the horror of a work morning all over again. I set my alarm, dragged myself out of bed, got dressed in my old IT gear (luckily I hadn't burnt my tie or smashed my alarm clock), got in that big 'ol Electra, battled the early morning traffic and drove to work (I was running late as usual...lol) but instead of pulling into the car park I tooted this big fright train horns that big old Buicks have and flipped the bird at my old building as I just drove past. I spotted some old fellas still walking in through the turnstiles and smiled to my self while shaking my head. I'd broken free and it felt goooood.

The ultra funny thing about it is that during the last few months at work I was making many thousands a week on my own and that translated into less stress so strangely that turned into my really enjoying my work. I did such a good job that they refused to let me go (nicely). They threatened that if I leave they wouldn't replace me which would mean more work for the two (really cool) guys who'd be left to run the IT department. So I wrote a nasty email to head office which resulted in them sending an equally stout email to my direct boss asking him to escort me off the premises. The next day they hired a temp to replace me...lol

That company by the way was the biggest most recognisable brand on earth (no, not McDonalds - the other one, Coca Cola).

Amazing things can and do happen to ordinary people. I'm proof. But I did all I could to make it happen (and then some). But it was a push goal. I was pushing away from the working scripted life for all I was worth. I didn't know what the future held for me. All I knew was there HAD to be a better way and as soon as I could smell and see it I pushed and pushed and pushed and studied and practised and failed and won many times until I started to win and win and win and then I knew. It was time to start flapping my wings. Flight cured fear and all of a sudden I was flying and that's where this story starts in the first post in this thread.

P.S. I'm typing this lying on my side in bed and it's 8:28am on a Monday morning which is when I'd normally be waiting with my indicator beating while I wait and stress about who's going to let me into the stream of heavy traffic so I can be late to work again and I STILL appreciate and am grateful that I don't follow that same script.

Thanks for reminding me. I might just sit here and snooze for a few more moments before getting out of bed to contemplate what today holds for me because I have no plans...again.
 
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V8Bill

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@V8Bill thanks for sharing your story with us. That is very inspiring!

The amount of gems in this thread is so high that I had to open my Evernote and save several things that you and others shared here. Thanks everybody!

I have been reading about and living by the idea of "financial independence" for the last 5 years and I feel very energized by all the discussion going on on this thread. My main goal is to be able to live off my investments and enjoy life with my family, while I am young and not to postpone it until I am 60 and retired.

You love cars and that makes it even more fun to read your posts. My dream is to be able to have my expenses covered so I can enjoy life restoring and driving classic cars. What is the car you drive? Looks like it is a pretty bad a$$ hot-rod! I bet the yellow goes very well together with you flaming shirt :smile:

I am from Brazil and live in Spain now, doing an MBA here. I thought a lot before doing it because I had to get a loan to pay for the classes and at the time I already knew that 9-to-5 in a meaningless job is not for me. My plan is that I can make a good salary and get back to my level of 50% monthly savings, so I can reach my 2x fast. Also I am moving my a$$ now to make at least one of my ideas into reality and this community is helping me a lot to be persistent on it.

Thanks for the book and audio! I will listen to it tomorrow and share the knowledge. I already like the simplicity of your formula and how powerful it is. You deserve all the rep in the world!

Cheers from sunny Barcelona!

I was just talking with another Fastlaner last night on skype about visiting Spain.

Good to hear that my words and story are providing some value to you Felipe. I'll never get tired of hearing that. Just as I'll never get tired of old cars - like you. The car in my avatar was a 1934 Ford coupe which I bought and drove home half way across Australia. For the car guys it had 4.11 gears in the rear! - Not ideal for long distance driving but it sure was fun. I could drive cool cars all day and have done many times. Endless roads laid out in front of me squeezing down to a vanishing point in the distance. I took hundreds of photos of just road. Open road reminds me of freedom.

Don't forget what @MJ DeMarco says about autonomy. It's a great first step to full freedom and I really enjoyed it. It doesn't matter if you have to do busy things to make your own money as long as you have the autonomy to do them when you want without external pressure holding you down.

I'd be very interested in what you thought of the full book (as I would from anyone who's picked it up from this thread) so don't be shy and don't download it then forget it. Listen to it all at once if possible - that's the best way. You don't have to take notes - just listen.
 
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GMSI7D

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Nope, it was a Tuesday, December 21st 2004. I keep a spreadsheet that calculates how many days it's been. I'll have to check but I think I'm pretty close to 4,500 "days off in a row" (as I call it).

I was "bouncing off broke" (like many workers are), no savings, no major assets apart from my old Buick Electra and 39 years old. Then I was given some information from a friend about a seminar and course he wanted to do that neither of us could afford (broke) so we went halves. I ran with what I learned, got interested in options, lost my job (but wormed my way back in as a subcontractor) and in October of the same year went to Fiji which is where this story starts and by December I quit working at a job and was making my own money by calling in my trades once a month (I was selling options just like MJ does now).

So technically I didn't retire with full passive income but making a phone call to my broker once or twice a month was retirement for me because all I was concerned with was not ever having to go to no stinking job ever again. I was free.

As I keep saying, big money comes fast. You just have to know how to unleash it.

I even bought long socks and sandals (for a joke). One day I even decided it would be fun to go through the horror of a work morning all over again. I set my alarm, dragged myself out of bed, got dressed in my old IT gear (luckily I hadn't burnt my tie or smashed my alarm clock), got in that big 'ol Electra, battled the early morning traffic and drove to work (I was running late as usual...lol) but instead of pulling into the car park I tooted this big fright train horns that big old Buicks have and flipped the bird at my old building as I just drove past. I spotted some old fellas still walking in through the turnstiles and smiled to my self while shaking my head. I'd broken free and it felt goooood.

The ultra funny thing about it is that during the last few months at work I was making many thousands a week on my own and that translated into less stress so strangely that turned into my really enjoying my work. I did such a good job that they refused to let me go (nicely). They threatened that if I leave they wouldn't replace me which would mean more work for the two (really cool) guys who'd be left to run the IT department. So I wrote a nasty email to head office which resulted in them sending an equally stout email to my direct boss asking him to escort me off the premises. The next day they hired a temp to replace me...lol

That company by the way was the biggest most recognisable brand on earth (no, not McDonalds - the other one, Coca Cola).

Amazing things can and do happen to ordinary people. I'm proof. But I did all I could to make it happen (and then some). But it was a push goal. I was pushing away from the working scripted life for all I was worth. I didn't know what the future held for me. All I knew was there HAD to be a better way and as soon as I could smell and see it I pushed and pushed and pushed and studied and practised and failed and won many times until I started to win and win and win and then I knew. It was time to start flapping my wings. Flight cured fear and all of a sudden I was flying and that's where this story starts in the first post in this thread.

P.S. I'm typing this lying on my side in bed and it's 8:28am on a Monday morning which is when I'd normally be waiting with my indicator beating while I wait and stress about who's going to let me into the stream of heavy traffic so I can be late to work again and I STILL appreciate and am grateful that I don't follow that same script.

Thanks for reminding me. I might just sit here and snooze for a few more moments before getting out of bed to contemplate what today holds for me because I have no plans...again.


man, this is absolutely awesome. i don't know what to say

yes i do know what to say . some people might live their dream anyway and you are one of them here

SO with MJ DeMarco's permission, i think the forum should give user's like you a special award

all legendary contributors should get a medal





medal.jpg
 
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V8Bill

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man, this is absolutely awesome. i don't know what to say

yes i do know what to say . some people might live their dream anyway and you are one of them here

SO with MJ DeMarco's permission, i think the forum should give user's like you a special award

all legendary contributors should get a medal
Haha thanks. In fact, it looks like overnight I achieved it! You guys have been sooo generous with your support for this thread that I finally achieved Gold Contributor status! I'm not sure how one gets to that level but I sure am stoked! Thanks to EVERYONE who voted for my posts with a like/thanks. In my signature I quote Jim Carey and I'd like to repeat that quote here again; "The effect we have on others is the only currency there is."

As a writer and Author my only goal was to improve one person's life. You have all given me the gift of your nods, handshakes and pats on the back so I share the award with you all. This is a fantastic community you've built here Mr @MJ DeMarco. I know you're proud but I echo your pride X2.

Thanks again everyone. Wow, what a way to start my day!
 

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Thanks for sharing Bill!

I never thought of being wealthy or financially independent in those terms before, re-framing or perspective can be powerful!

I'm currently taking the Digital Nomad path so this will definitely come in handy as I am still 'baselining' trying to keep my expenses at a bare minimum while ramping up income.

I'm still working on my first customer remotely without the use of a marketplace so I better get back to it, but I will definitely go through your work, cheers mate.
 

V8Bill

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I never thought of being wealthy or financially independent in those terms before, re-framing or perspective can be powerful!
Indeed it can. Sometimes a fresh approach and looking at the problem (of in this case, financial stress and desire) from a different angle makes all the difference.
 
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I haven't read the book but will be making a point of it Bill. The most unbelievable part of this story is that you didn't get defected driving around South Australia! (I'm ex-Adelaide).

Last year my cost of living was a little under 16% of take home pay. The rest was pumped back into my own businesses and invested elsewhere. While I would like a classic car, space to work on this car and maybe a few other luxuries, I'm having a heap of fun knowing the harder I save now, the more time I'll have later.

Thanks for sharing!
 

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I haven't read the book but will be making a point of it Bill. The most unbelievable part of this story is that you didn't get defected driving around South Australia! (I'm ex-Adelaide).!

Fully 100% legal and regency approved and fully comprehensive insured through Shannons my friend. That was the best part. The car is actually for sale right now on Gumtree (I sold it a few years ago).
 
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illmasterj

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Fully 100% legal and regency approved and fully comprehensive insured through Shannons my friend. That was the best part. The car is actually for sale right now on Gumtree (I sold it a few years ago).
So nowadays with the car sold, what makes you happy? Is it that feeling of "wealthiness"?

I am not in your position yet but one side effect of my "wealth" has been freedom. I see friends taking jobs they hate because they need it. Others living in share houses because they can't afford their own space. Others wanting to take a sabbatical from work to go overseas but they can't do it. A friend just bought a brand new Golf GTI and is complaining that he can't afford to travel for years now.
 
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So nowadays with the car sold, what makes you happy? Is it that feeling of "wealthiness"?

I am not in your position yet but one side effect of my "wealth" has been freedom.
Feeling wealthy just reflects how far one is from financial stress. Once achieved it's not something I think about too much. It's the start of a free life.

What do I do now that I sold that car? Heaps of things! I've bought and sold a few cars that interest me, some old Fords, some used Lexuses (lexi?), I build things, I have lots of hobbies and interests just like anyone would have. I do whatever I want within my means and budget. I love cool cars but I can have plenty of fun without them too.

This thread isn't about me so much as the message but at the moment I drive an ordinary Holden wagon which was an absolute bargain and which I love but it's no hot rod or cool car (to others). Sometimes I just love reading about or watching them (I think I'm a closet motoring journalist wanna be). I have other goals and aims now that keep me interested and sometimes I just do nothing but potter around in shitty clothes. Freedom offer a kaleidoscope of possibilities for everyone and it's not a psychedelic wonderland or anything. It's just like a normal evening, a normal day off work, a normal weekend, a normal holiday. Financial freedom is closer than many people think once they calculate it and when they get there it's very familiar.
 

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A friend just bought a brand new Golf GTI and is complaining that he can't afford to travel for years now.

He's living at or below X and that'll be his life until he understands (or wants to understand) what he's doing wrong. He probably can't do lots of things but that's not why he's complaining. He probably can't afford to buy an island for years now too. He's happy with his new car and the stress it gives him because there's always a pay off for bad behaviour. His pay off might be that he loves the car so much he's willing to put himself into financial stress just to own it - he wouldn't be the first one and won't be the last and I've done that myself heaps of times (last century). There's always a reason and his complaining that he can't now afford another "thing" he wants is a rouse. He probably likes to complain - that in itself can be an addiction. He can chose to accept responsibility for his self inflicted "stress" or complain. My guess is he's living off a #yolo buzz. That's what most people do until they see a better way.

Write my formula down on a scrap of paper and explain to him what it means and where he is on the wealth line and what he's done and why he's feeling the way he does (if that's actually how he feels) if you want to help him. I'd advise against it though unless he really starts complaining and regrets what he's done and is looking for a way out of his stressful situation. People generally don't want to hear that their money mindset sucks - unless they want to do something about it.
 

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I'm really interested in your book, and I'll have it soon. I used to work as a manager at a pharmaceutical company. In general, I liked my job, but I always wanted to have more (you know, more free time, more money, more independence). Now I'm on maternity leave and have enough time to think everything over. So recently I've started learning web design. As everything comes with practice, I've been learning through building websites mostly for different religious organizations using 10 Best WordPress Themes for Churches and Religious Websites [affiliate link removed]. Of course, I'm in the very beginning of my long way to success and independence, but I hope the change of occupation will give me all I want. And of course, your book and experience will inspire and help me.

I hope it does. Good luck with learning web design, it's great fun. I love building websites myself. I used to build them by hand and that moment of refresh is a gem.

Let me know what you got out of the book when you're finished if you like. I'd love to hear it.
 
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I hope it does. Good luck with learning web design, it's great fun. I love building websites myself. I used to build them by hand and that moment of refresh is a gem.

Let me know what you got out of the book when you're finished if you like. I'd love to hear it.



JUST LIKE TO SAY THANKS, BILL THIS HAS OPENED MY EYES SUCH AN AMAZING LISTEN, ITS DEFO DEFO OPENS YOUR EYES ABOUT WEALTH AND BEYOND
 

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Just like to say thanks, Bill this has opened my eyes such an amazing listen, its defo defo opens your eyes about wealth and beyond.

You're more than welcome Hayden. I'm enjoying our skype chats and appreciate you're allowing me to help you clarify the message. I wish I knew what I know now when I was younger. You're now galaxies ahead of your peers in so far as understanding money and wealth and I expect to see some big things from you. Thanks for your nod.
 
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After reading Bills intro post, I was intrigued to read his book (why not it is for free damn).

The 2x method is a modern approach and angle to what wealth is and gives it a measurable number you can achieve.

I personally found the book a little to detailed because the method was very intuitive and easy to grasp. I can understand if people feel the need to get things explained a little more.

I really recommend the book for everyone trying to get some tangible financial goals.
 

V8Bill

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After reading Bills intro post, I was intrigued to read his book (why not it is for free damn).

The 2x method is a modern approach and angle to what wealth is and gives it a measurable number you can achieve.

I personally found the book a little too detailed because the method was very intuitive and easy to grasp. I can understand if people feel the need to get things explained a little more.

I really recommend the book for everyone trying to get some tangible financial goals.
Thank you for the feedback and I'm glad you enjoyed it. I'm curious; did you read it or listen to me reading it?
 

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