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Successful Slowlaner Rebukes Fastlane (My Response...)

MJ DeMarco

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Here's the article.

http://www.businessinsider.com/i-be...-advice-i-can-give-you-about-investing-2016-2

Rut Roh!

Folks, it's time to sell your business! Give up! Stop what you're doing! Give everything to Wall Street!

So here's my rebuttal...


-------------------------------------

Hmmm, where do I start?

How about... congratulations?!

Yup, a big fat congratulations because you know what?

You've accomplished something extraordinary.

In fact, it's something so extraordinary and rarely accomplished that it deserves special attention and reporting in the New York Times, on the front page of Yahoo (where I found the article) and in Business INSIDERS's vast treasure trove of financial nonsense featuring Wall Street dependence and rip-your-hair out frugality.

Yup, your story is so uncommonly remarkable (and ridiculously improbable) that it warrants the mainstream media's attention.

Any that's the entire point of the Fastlane and the investment dogma that it attacks.


However, you know what story WILL NOT be featured in the New York Times?

My story.

I became a multi-millionaire in my early thirties. And I did it BEFORE "cashing out". I didn't rely on Wall Street. I didn't rely on experiential starvation or mind-numbing frugality. I didn't deprive myself of experiences, toys, or whatever else I found inspiriting. And I certainly didn't obsess over money, so much so that I named myself "Money MJ" or "Dollar DeMarco".

You see I just didn't become a multi-millionaire in my thirties -- I RETIRED.

That means I never have to work another day in my life, ever again. I don't need to peek at the S&P500 index every day. Stock market up? Down? I don't give a shit. I don't need to fondly spy a steakhouse, an exotic car, and or a cabin in the woods and persuade myself, "Meh, I don't want OR need that... right??????" I don't need to worry that the economy could go into the shitter. I don't need to lose sleep over inflation and the fact that our government is printing trillions annually. I don't need to hold up the checkout line at the grocery store because I have 22 coupons.

You see, I don't need to do anything.

But again, my story-- no matter how remarkably free and awesome it is-- won't be spotlighted in the New York Times.

My story won't make it to the pages of Business INSIDERS.


And my friend who travels the world six months out of the year, owns a free-and-clear house with a fancy Audi R8 parked in the garage, and by no account, starves himself of nothing?

Just like my story, his story won't be told either. And neither will the dozens, perhaps hundreds of other millionaire-in-the-making stories that hide behind the pages of this forum.

Their stories go UNTOLD.

Ya know why?

Because these stories are NOT extraordinary in the world of entrepreneurship. They are NOT unusual. They are NOT so unbelievably uncommon that they deserve air time on the news, in newspapers, and in any racket worshiping the narrative that financial success must go through Wall Street's slimy hands and the corporations it serves.

Your story, however, IS remarkably uncommon.

And you should be proud.

In other words, it's about as likely as Kanye West winning a CMA award.

You see, the Fastlane is not about "cashing out" as your strawman argument implies. It's about creating a business entity that takes advantage of controllable unlimited leverage so you can earn five or six figures monthly and become a millionaire in a few short years WITHOUT depending on Wall Street, a fragile economy, and a money-printing government. It's about NOT surrendering your entire financial future into the unpredictable and unreliable markets, obsessing over money, saving $2 on shampoo, and whatever else the "settle for less" investment plan requires. Cashing out? That's called "F*ck you" money and the big "F*ck you" is directed at Wall Street.

While the Fastlane certainly isn't immune to it's own survivor biases, your story is suffocating from it, as evidenced by it's national newsworthiness.

And yet, this is the plan the common man should be rejoicing over?

Perhaps we should throw some actuarial science behind the financial plan of hope-and-pray.

  • The odds of the stock marketing returning 10% a year and not crashing over 50 years?
    10%? (Odd, your analysis excluded the 40% decline of 2007/2008??)
  • The odds that you're alive after 50 years?
    50%?
  • The odds that you have a job for 50 straight years, actually being able to save 966.00 month?
    5%?
  • The odds inflation doesn't hyper-inflate your savings during those 50 years?
    70%? (Because ya know, the government is such a good steward of our currency!)
  • The odds you start in your early twenties?
    5%?
I could throw in a few other variables in there relating to a national debt of $20 trillion and a few other things OUTSIDE of your control, but why bother.

What we get is (10% X 50% X 5% 70% X 5%) = .0000875%, or in other words, .00875% -- the probability of someone actually repeating your success story. Of course, I know these variables are debatable (and the example isn't truly actuarial) but that's not the point. My point is the entire plan is an improbable gamble based on a bunch of variables you will NEVER control. Theory is one thing, practice is another.

In effect, the word "millionaire" means nothing if it isn't allowing you unrestrained freedom from Wall Street's servitude system. The people here do NOT aspire to be Wall Street millionaires, they aspire to be free from the dogmatic tenets of culture and society-- the very such tenets that are espoused ubiquitously on Business INSIDERS and Yahoo Finance.

Unfortunately the truth is that Slowlane dogma remains no better than buying a lottery ticket for anyone older than 35. And if you miss buying that ticket in your 20's, forget it.

Game over.

Life does not wait. Experiences do not wait. Time does not wait.

Of course, none of this is to impugn your incredible accomplishment, an accomplishment that no doubt requires an outstanding disciplined effort faithfully executed throughout the decades -- and that commitment deserves its respect and its props-- a commitment which is respectably and honorably no doubt... "Fastlane".

- MJ
 
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beatgoezon

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Read this yesterday and knew you'd write about this sooner or later

That's just the reason these type of articles are featured on big news sites; they give people hope that what they're doing (or just believe) works.

I've had the privilege of having the front row seats in seeing what the truth about this financial plan is; most people never even come close to achieving it, let alone following it in the first place

I know it's hard and grueling at times, but I don't think there really is any other measurable way to achieve true financial wealth other than what the Millionaire Fastlane teaches
I think that's why age old wisdom teaches that the path leading to the most prosperity is least traveled, most people would rather have society think for them and land them in a ditch than make the scary choice of thinking for themselves
 

mrarcher

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Why bother arguing with someone who says you shouldn't get into business and you should invest NOW!!!!! But has this on the bottom of the site he owns:
Copyright 2016 Mr. Everyday Dollar. All Rights Reserved.

PRIVACY POLICY TERMS OF USE

Advertiser Disclosure: mreverydaydollar.com has financial relationships with some of the merchants mentioned here and may be compensated if users choose to utilize the links located throughout the content on this site.
 

RHL

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97,000 views on the BI article at the time of posting. Expecting a flood of curious, angry pilgrims to find this place through Google.

MJ didn't even need to write this post to rebut the accusations. All they have to do is look and see how the people who have put CENTS into practice live. Not the few all-stars and Forbes coverpersons. Anyone who puts it into practice, grinds, and gets up when they fall down.

If you found this place through Google, look around here for a few hours and then try to go back to your old job.

I dare you.
 
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Digamma

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"Well, I took the slow lane and was so successful at it that the New York Times published an article about me."
=> "‘Supersavers’ Focus on the Goal"

Stopped reading right there.
There is only so much retarded media I can take, and Talia there has pretty much done it for me for this week.

The guy is simply peddling his own website with his bullshit "FREE REPORT!!11" and affiliate links.
Cool stuff.
 
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MJ DeMarco

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"Well, I took the slow lane and was so successful at it that the New York Times published an article about me."
=> "‘Supersavers’ Focus on the Goal"

Stopped reading right there.
There is only so much retarded media I can take, and Talia there has pretty much done it for me for this week.

The guy is simply peddling his own website with his bullshit "FREE REPORT!!11" and affiliate links.
Cool stuff.

Yup, and like all Slowlaners, the only chance for this poor guy to escape his self-imposed purgatory jailed by "supersaving" is the increased income he might get by selling the BS to other unsuspecting people. Sell the Slowlane, get rich in the Fastlane ... like we haven't seen that before. (Like that dude who sold Get Rich Slow for millions! LOL)
 

Dinho7

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This is one of the worst articles I've ever read, which reminds me why I unsubscribed to Business INSIDERS a year ago. I am more surprised it was posted on NYT and Yahoo? What are the requirements these days?

Let alone his cheap shot at MJ's book without backing up anything, the article is poorly written and jumps around with no clear direction, just scattered "facts" to build a weak case. Looks like his goal was 1) self-promotion and 2) let out his feelings from being hurt when he read TMF since it goes against what he has been taught.
 
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GreedyBGoode

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read it again and man doesn't make any real sense at all...

yeah he's just saying "slowlane works" (just for him and only him and nobody else unless you subscribe to his blog/business/special course/affiliate links) but here's the catch - never once did he mention fastlane doesn't work / is worse than the slowlane. because it just isn't true!

what if he started in 2003 and turned 35 by 2008? no doubt he will be further from his $1m goal. and the irony of pitching slowlane ideas through a fastlane machine...

in any case, this might just mean a few additional raving fans coming your way, @MJ DeMarco !
 

deepestblue

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Articles like this are printed in the "old media" press with the intention of having people be satisfied to expend their talents for large corporations. Quite Truman Show esque.
 

StevieB

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From my experience in the stock market it's about as good as your chances with gambling.

There are some gambles with much less risk that will reap a much smaller reward. Which basically just keeps up with inflation.

There are some gambles with a great return but much higher risk, which typically don't go in your favor but every once in a while someone get's their name printed in the New York Times just like lottery winners.

I've had some great returns and some really bad returns. In the end it all panned out to be about the same amount I started with. This isn't just a few hundred dollars but tens of thousands.

Saving money is a very good idea but by using the stock market to become rich off it i'll go with the old saying -- The house always wins.

Sure you may end up with a retirement fund, primarily because you invested so much money but guess who made the real money? It wasn't you. It was the ones using your slowlane money as leverage to become a fastlaner.
 
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Evil_Jester

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Well that's fantastic. A really smart decision young man. We can put that check in a money market mutual fund and then we'll reinvest the earnings in foreign currency accounts with compounding interest....aaaaand.. it's gone.
 

MotiveInMotion

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WOW! Breaking news, all I need to do, is start where I am at 22, and save $966/mo. consistently for 50 years and I'll have a million dollars?

Or...

I could build my business to 1 million dollars net / mo. in 5-10 years...

Tough choice.

It's sad to see that this dude thinks a short vacation overseas in a budget hotel is living. I live overseas full time and travel to any country I want, while building more of my ideal lifestyle everyday... I don't understand

L O L
 

Vitom

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Honestly tho, Let that F*cktard lead the herd into failure. If you are dumb enough to believe this - crest 3D white stripped 30 year old... you belong in the slow-lane. "invest in a horse, walk it down to that market that everyone sells their horse at, you know - and you don't even have to pay for the grass!" Woah dude, THAT'S how easy investing is. Thanks Chris Reining! For all the knawledge!

Yea, until that horse gets sick or injured. Or maybe Tom Hagen makes you an offer you can't refuse.

Chris Reining, you don't make no CENTS.

- Vito M.
 

ZCP

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Where exactly does he think a 30 year old is going to come up with an EXTRA $1900 / month (post tax!!)..... for 20 years!! (only $456k!)

Where is this guaranteed 7% annual return?

Could you imagine if someone put $1900 / month into their business?!?! Think they would do better than doubling their money after 20 years?

Should I tell my boys to sell their soap company and vending routes and start over? They have already more than doubled their money and still own the businesses that pay them every single month.......
 
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Greg R

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Of course, none of this is to impugn your incredible accomplishment, an accomplishment that no doubt requires an outstanding disciplined effort faithfully executed throughout the decades -- and that commitment deserves its respect and its props-- a commitment which is respectably and honorably no doubt... "Fastlane".

- MJ

MJ,

Your response to this article is a perfect example of how everyone in this forum should reply to something like this.

You kept your cool and didn't let emotions fuel your writing.

I'm glad that you've defended you castle and addressed this.

I was really captivated when I read the OP.

Rock on. :rockon:
 
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ZCP

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Biggest kickback I get from discussions with people like this is that they are not into 'get rich quick' schemes.

Then I ask them if they buy paper towels, or donuts, or get a haircut. I ask if there is no other business on Earth that would make money other than 'get rich quick'. They do not have to create Facebook. Money can be made in windshield washer fluid.

But starting a business is hard! Buy an existing one.
But paperwork and taxes! Hire someone. Get a CPA.
But ......

Then I briefly consider if they would be helpful as an employee in one of my businesses. Then I move on.
 

Andy Black

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Biggest kickback I get from discussions with people like this is that they are not into 'get rich quick' schemes.

Then I ask them if they buy paper towels, or donuts, or get a haircut. I ask if there is no other business on Earth that would make money other than 'get rich quick'. They do not have to create Facebook. Money can be made in windshield washer fluid.

But starting a business is hard! Buy an existing one.
But paperwork and taxes! Hire someone. Get a CPA.
But ......

Then I briefly consider if they would be helpful as an employee in one of my businesses. Then I move on.
But


The favourite word of someone who doesn't want to do something.
 
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MJ DeMarco

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Biggest kickback I get from discussions with people like this is that they are not into 'get rich quick' schemes.

But ultimately the paradox of practice comes into play.

These guys who preach this song-and-dance build businesses preaching this song-and-dance.

I wonder, does it ever hit them that "OMG, I'm getting rich teaching this rabble and it certainly is a lot faster 50 years of compound interest."

Oh the irony.

Kinda reminds me of the guy who sold the website Get Rich Slow for some ungodly amount.

LOL, in other words it's the age-old scheme: get rich in the Fastlane by teaching the Slowlane.
 

G-Man

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But ultimately the paradox of practice comes into play.

These guys who preach this song-and-dance build businesses preaching this song-and-dance.

I wonder, does it ever hit them that "OMG, I'm getting rich teaching this rabble and it certainly is a lot faster 50 years of compound interest."

Oh the irony.

Kinda reminds me of the guy who sold the website Get Rich Slow for some ungodly amount.

LOL, in other words it's the age-old scheme: get rich in the Fastlane by teaching the Slowlane.


Dave Ramsey was a household idol growing up. Words taken as a the gospel. I also married a frugal saver type who cuts a million coupons and will spend 30 minutes to save 50 cents. Borrowing from TMF I pointed out to the wife that Dave Ramsey didn't get rich investing in mutual funds, he got rich writing books telling people to invest in mutual funds. Wife's response was classic; "Oh my God, I literally never thought of it that way. That's so true.... Honey,.... you should write a book"

Definitely not going to write a book, but that one piece of insight helped get the wife on board with my actual business, turning a conversation I was dreading into a giant LOL.
 

Jonathan C

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G-Man

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I'm glad I found this thread. It looks like that article was recently rehashed and republished. I was kinda curious on what your thoughts were but didn't want to seem like a troll.

38-year-old retired millionaire: One simple habit leads to wealth


You really need to read UnScripted . MJ discusses the purpose of articles like this at length. Basically the whole thing is a sales funnel for Wall St.

Also, they forgot about the most important "simple habit" this guy has: Having a high six figure job in his early 20s. That's the only way the arithmetic for saving 1,000,000 by your mid thirties is even possible. So right outta the gate we're talking about something that's unreachable for most people unless they take an entrepreneurship path, or can go back to being 15 and decide to go to medical school.

Also notable failure to mention:
  • 1,000,000 isn't a retirement anymore. It's probably closer to 3+
  • Sometime in the next 15 years, it's virtually guaranteed a recession will happen, taking a large portion of this guy's nest egg with it.
  • Now our hero is 45-50 years old. The money he entrusted to Wall St has had 30% wiped out by a recession. Are his job skills still relevant at age 50 and 10 years out of the work force?
 

MJ DeMarco

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Notice how newsworthy the achievement is?

That's because the Wall Street fantasy this guy promotes is an OUTLIER.

That should tell you everything.

Now, ironically, his outlier story is his business -- the good old, get rich with Fastlane metrics, teaching Slowlane dogma.
 

Millenial_Kid5K1

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You really need to read UnScripted .
I want to, more than you know.

He also explains in TMF why the math doesn't work. Six figures is a small number. 40 hours or 40 years are small numbers. You HAVE to leverage unconventional tools in order to reach large numbers.
 
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Chazmania

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Here's the article.

I became a millionaire in my 30s, and here's the best advice I can give you about investing

Rut Roh!

Folks, it's time to sell your business! Give up! Stop what you're doing! Give everything to Wall Street!

So here's my rebuttal...


-------------------------------------

Hmmm, where do I start?

How about... congratulations?!

Yup, a big fat congratulations because you know what?

You've accomplished something extraordinary.

In fact, it's something so extraordinary and rarely accomplished that it deserves special attention and reporting in the New York Times, on the front page of Yahoo (where I found the article) and in Business INSIDERS's vast treasure trove of financial nonsense featuring Wall Street dependence and rip-your-hair out frugality.

Yup, your story is so uncommonly remarkable (and ridiculously improbable) that it warrants the mainstream media's attention.

Any that's the entire point of the Fastlane and the investment dogma that it attacks.


However, you know what story WILL NOT be featured in the New York Times?

My story.

I became a multi-millionaire in my early thirties. And I did it BEFORE "cashing out". I didn't rely on Wall Street. I didn't rely on experiential starvation or mind-numbing frugality. I didn't deprive myself of experiences, toys, or whatever else I found inspiriting. And I certainly didn't obsess over money, so much so that I named myself "Money MJ" or "Dollar DeMarco".

You see I just didn't become a multi-millionaire in my thirties -- I RETIRED.

That means I never have to work another day in my life, ever again. I don't need to peek at the S&P500 index every day. Stock market up? Down? I don't give a shit. I don't need to fondly spy a steakhouse, an exotic car, and or a cabin in the woods and persuade myself, "Meh, I don't want OR need that... right??????" I don't need to worry that the economy could go into the shitter. I don't need to lose sleep over inflation and the fact that our government is printing trillions annually. I don't need to hold up the checkout line at the grocery store because I have 22 coupons.

You see, I don't need to do anything.

But again, my story-- no matter how remarkably free and awesome it is-- won't be spotlighted in the New York Times.

My story won't make it to the pages of Business INSIDERS.


And my friend who travels the world six months out of the year, owns a free-and-clear house with a fancy Audi R8 parked in the garage, and by no account, starves himself of nothing?

Just like my story, his story won't be told either. And neither will the dozens, perhaps hundreds of other millionaire-in-the-making stories that hide behind the pages of this forum.

Their stories go UNTOLD.

Ya know why?

Because these stories are NOT extraordinary in the world of entrepreneurship. They are NOT unusual. They are NOT so unbelievably uncommon that they deserve air time on the news, in newspapers, and in any racket worshiping the narrative that financial success must go through Wall Street's slimy hands and the corporations it serves.

Your story, however, IS remarkably uncommon.

And you should be proud.

In other words, it's about as likely as Kanye West winning a CMA award.

You see, the Fastlane is not about "cashing out" as your strawman argument implies. It's about creating a business entity that takes advantage of controllable unlimited leverage so you can earn five or six figures monthly and become a millionaire in a few short years WITHOUT depending on Wall Street, a fragile economy, and a money-printing government. It's about NOT surrendering your entire financial future into the unpredictable and unreliable markets, obsessing over money, saving $2 on shampoo, and whatever else the "settle for less" investment plan requires. Cashing out? That's called "F*ck you" money and the big "F*ck you" is directed at Wall Street.

While the Fastlane certainly isn't immune to it's own survivor biases, your story is suffocating from it, as evidenced by it's national newsworthiness.

And yet, this is the plan the common man should be rejoicing over?

Perhaps we should throw some actuarial science behind the financial plan of hope-and-pray.

  • The odds of the stock marketing returning 10% a year and not crashing over 50 years?
    10%? (Odd, your analysis excluded the 40% decline of 2007/2008??)
  • The odds that you're alive after 50 years?
    50%?
  • The odds that you have a job for 50 straight years, actually being able to save 966.00 month?
    5%?
  • The odds inflation doesn't hyper-inflate your savings during those 50 years?
    70%? (Because ya know, the government is such a good steward of our currency!)
  • The odds you start in your early twenties?
    5%?
I could throw in a few other variables in there relating to a national debt of $20 trillion and a few other things OUTSIDE of your control, but why bother.

What we get is (10% X 50% X 5% 70% X 5%) = .0000875%, or in other words, .00875% -- the probability of someone actually repeating your success story. Of course, I know these variables are debatable (and the example isn't truly actuarial) but that's not the point. My point is the entire plan is an improbable gamble based on a bunch of variables you will NEVER control. Theory is one thing, practice is another.

In effect, the word "millionaire" means nothing if it isn't allowing you unrestrained freedom from Wall Street's servitude system. The people here do NOT aspire to be Wall Street millionaires, they aspire to be free from the dogmatic tenets of culture and society-- the very such tenets that are espoused ubiquitously on Business INSIDERS and Yahoo Finance.

Unfortunately the truth is that Slowlane dogma remains no better than buying a lottery ticket for anyone older than 35. And if you miss buying that ticket in your 20's, forget it.

Game over.

Life does not wait. Experiences do not wait. Time does not wait.

Of course, none of this is to impugn your incredible accomplishment, an accomplishment that no doubt requires an outstanding disciplined effort faithfully executed throughout the decades -- and that commitment deserves its respect and its props-- a commitment which is respectably and honorably no doubt... "Fastlane".

- MJ

Damn! You couldn't have said it much better than that!
 

kkoasdfawfqwe2

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Since you all have been mentioning a lot of things we can all agree on, I have a question that I hope one of you living in America can answer for me.

Since this guy has his opt-in page linked at the bottom of the article, it just makes it look like it is a bought article of some sort.

I was wondering, since it is not legal here, if it is legal in the United States to directly buy an article like this just to promote your business without any sort of disclaimer even?

As an online marketer I never market to the people of the United States due to the FTC being really strict with a lot of things, especially regarding affiliate marketing. If this article is indeed 'bought', I really wonder how it does not require a disclaimer, even if it's legal in the United States to buy your way into articles like this with direct URLs on the page.

Anyone here who can share a bit of insight to a clueless European?

- I don't mean to get off-topic but I got pretty curious, since if you can just buy a super bad article like this in a fairly 'reputable media' and even get your URL on the page, then how is the media's authority and reputation not completely screwed from promoting bullshit like this.
 

JWelch

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This is on par with that bullshit article about rich people being ashamed. Not to mention all this guy can muster up is the equivalent to $1,000,000 in today's dollars. Sorry chief 1 mil isn't going to give me the life I'm looking for. The best way to shut this guy up is to make more money in a few months than he can muster up in 20 years.
 
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rc08234

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"Investing isn’t just for rich people
Here’s how investing works in farmer terms. (I live in Wisconsin, this is what people talk about.)

You buy a weak little colt for $500. It eats a lot of grass and over time grows into this big, beautiful, strong horse that’s now worth $2,500. On Saturday you walk your horse down to the horse market in town, and you sell it for $2,500. Boom, a $2,000 profit (and you didn’t even have to pay for the grass)."


I've gotten this far and already want to stop reading. I'm sure colts need more then just grass for food. How bout medication, vet visits, etc. How about the time to feed the horse etc.

What a schmuck

Ughh I shouldn't have kept reading.

He says "To accomplish this goal, you need to save and invest just $966 a month". In 2015 the average income was 48,098.63, and I'm guessing that's before taxes. SO your suppose to save 25% of your gross monthly income lolololol.
 
Last edited:

MJ DeMarco

I followed the science; all I found was money.
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"To accomplish this goal, you need to save and invest just $966 a month". In 2015 the average income was 48,098.63, and I'm guessing that's before taxes. SO your suppose to save 25% of your gross monthly income lolololol.

This is possible...

if you go without health insurance...
if you go Zuckerburg on your wardrobe, 1 T-shirt all 7 days...
if you rent a 240 square foot house and ration toilet flushes to save water...
if you never go out to eat...
if you dumpster dive for your food behind the Safeway...
if you cancel the cable tv (and anything else pleasurable)...

Then you can have the luxury of calling yourself a millionaire after 20 years just so you can spend the rest of your life living the exact same god-forsaken way. (But there is hope, maybe I can use Fastlane metrics and sell this insanity to a bunch of unsuspecting fools so I can actually have a life!)
 

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