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The final solution to all "I have some money what do I do?" threads.

RHL

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It was definitely the most potent idea of Rich Dad poor dad, but it really didn't sink in until I read TMF because it was explored outside real estate in such a comprehensive way. It all boiled down to the answer to this one question...

We see it on here all the time: "I have a thousand dollars, I have five hundred dollars, I have ten thousand dollars..." and the inevitable conclusions: "Should I go to school? Should I buy a car? Should I buy a boat? Should I blow it on a vacation?"

Reach into your pocket and grab whatever money you have. A dollar. A dime. Doesn't matter. Hold it and look at it. The difference between freedom and wage slavery, between working till you're old or retiring when you're young, is that you look at that, and stop seeing an opportunity to consume. When you have a little windfall and you're not in the fastlane, if you spend it on frivolities like a sports car or a cruise, you look as stupid as a fisherman who goes out to hook some blue fin tuna, but right as the school is swimming beneath his boat, he opens up the little tub of bait he brought along and starts shoveling the dirt and worms in his own mouth, greedily slurping down the little squirming maggots and telling everyone how awesome it tastes.

Meanwhile, 400lbs of prime seafood is getting away. Where are you? Choking down your little bit of dirt and tricking yourself into believing that it was worth it.

If you trade time for money, your money shouldn't be for consumable frivolities. It's not for designer clothes, or iPhones, or Sunday Ticket, or a Mustang GT. Shop at Wal-Mart or Marshalls, drive a $1200 Geo Metro, get a Republic phone, cancel your Netflix, and spend your money to get free. Even if you're really, really hungry, take that bait, hook it up, and get it the hell overboard. Let your stomach gurgle, you'll be eating good tonight.

Money is your best bet to earn more money. Until you're meeting needs at such a high volume that money is available in excess, the little bit you do have, whether it comes from a job or a lucky break from somewhere, should only be spent one way. There's only one fastlane answer to the question "I am in the slow lane and have X amount. What should I buy?"

Buy something to meet the needs of others.

Spend your money in a way that causes it to be multiplied rather than consumed.
 
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IAmTheJeff

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It was definitely the most potent idea of Rich Dad poor dad, but it really didn't sink in until I read TMF because it was explored outside real estate in such a comprehensive way. It all boiled down to the answer to this one question...

We see it on here all the time: "I have a thousand dollars, I have five hundred dollars, I have ten thousand dollars..." and the inevitable conclusions: "Should I go to school? Should I buy a car? Should I buy a boat? Should I blow it on a vacation?"

Reach into your pocket and grab whatever money you have. A dollar. A dime. Doesn't matter. Hold it and look at it. The difference between freedom and wage slavery, between working till you're old or retiring when you're young, is that you look at that, and stop seeing an opportunity to consume. When you have a little windfall and you're not in the fastlane, if you spend it on frivolities like a sports car or a cruise, you look as stupid as the fisherman who goes out to hook some blue fin tuna, but right as the school is swimming beneath his boat, he opens up the little tub of bait he brought along and starts shoveling the dirt and worms in his own mouth, greedily slurping down the little squirming maggots and telling everyone how awesome it tastes.

Meanwhile, 400lbs of prime seafood is getting away. Where are you? Choking down your little bit of dirt and tricking yourself into believing that it was worth it.

If you trade time for money, your money shouldn't be for consumable frivolities. It's not for designer clothes, or iPhones, or Sunday Ticket, or a Mustang GT. Shop at Wal-Mart or Marshalls, drive a $1200 Geo Metro, get a Republic phone, cancel your Netflix, and spend your money to get free. Even if you're really, really hungry, take that bait, hook it up, and get it the hell overboard. Let your stomach gurgle, you'll be eating good tonight.

Money is your best bet to earn more money. Until you're meeting needs at such a high volume that money is available in excess, the little bit you do have, whether it comes from a job or a lucky break from somewhere, should only be spent one way. There's only one fastlane answer to the question "I am in the slow lane and got X amount. What should I buy?"

Buy something to meet the needs of others.

Spend your money on in a way that causes it to be multiplied rather than consumed.
Dude, best damn thing I've read all day!
 

The-J

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no but srsly what do i do with my $5k? there's this harley that i want but i also thought i'd make an amazon business in the skin care niche like that one guy was doing. also i wanna buy stocks and day trade cuz i can make money off of that? what do i dooooo
 

ArthurDayne

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Well said. RDPD wasn't perfect, but its approach towards "when can I actually afford X" was spot on. My salary goes into my assets, and my dividends buy my champagne - but more often than not, remain unspent and continue to buy me more future dividends.

no but srsly what do i do with my $5k? there's this harley that i want but i also thought i'd make an amazon business in the skin care niche like that one guy was doing. also i wanna buy stocks and day trade cuz i can make money off of that? what do i dooooo

Dude, gotta day trade. Free money. ;)
 
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The-J

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nvm i decided to join a mlm they said i can make a lot of money! i only had to put up $500! so uh who wants energy drinks?

i also bought an older version of the harley i wanted! thanks fastlane dudes!

On a serious note, this kind of thread has become a 'Should I go to college' or 'Should I quit my job' in how common it is for total strangers to ask other total strangers to make decisions for them that can change the course of their life. It's really silly.
 

Michael Raphael

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Love the passage and opinion you expressed very powerful imagery. Even more so, I loved that hebrew quote thrown into the siggy.
 

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I just sent you $100 forum cash. This was an amazing post. Don't be allergic to your money or you will never have any. Get used to having a lot if it around and in excess.

Don't spend your money just because you have it. That's stupid.

If you are wondering what to do with it you SHOULD SAVE IT AND INVEST IT until you have a clear answer.
 
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ChickenHawk

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...fisherman who goes out to hook some blue fin tuna, but right as the school is swimming beneath his boat, he opens up the little tub of bait he brought along and starts shoveling the dirt and worms in his own mouth...Meanwhile, 400lbs of prime seafood is getting away.

That's a seriously powerful image. Awesome post!
 
D

DeletedUser394

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The only thing I never regret spending on (no matter how egregious the number at the time) is, and will always be, travel.

Other than that I regret pretty much every purchase I've ever made, because as you said, it takes you further away from the end goal.

Thanks for the renewed motivation.
 

Kak

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^Yes

Would you rather have a nicer car "because you can afford it" or a cheaper car, keeping your cards close, and 8/10 of that money you would have spent in investments?

I know what I would rather have and it is the point of this whole forum. Money.

We all know frugality won't get you there, but unnecessary excess on depreciating assets is a poor business decision.
 

MJ DeMarco

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Marked Gold. Stickied. Rep Transferred. Bookmarked. Slated for excerpt in next book. Don't get any better than that.
 

Guest

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Here I am quoting Kevin O'leary again. He used to be my least favorite character on Shark Tank due to his harsh, nasty, and often times cynical remarks. But the more I watch the show the more I am starting to see his points regarding money.

One thing he said that really stuck with me is his analogy, "Here's how I think of my money - as soldiers - I send them out to war everyday. I want them to take prisoners and come home, so there's more of them."

When you spend money on trivialities, you are killing your soldiers!

www.youtube.com/watch?v=9pIZM2r_AJA#t=53
 
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RHL

The coaching was a joke guys.
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Marked Gold. Stickied. Rep Transferred. Bookmarked. Slated for excerpt in next book. Don't get any better than that.

Wow, I'm honored. Thanks! You know, I was just getting ready to go to bed last night, it was late, I'm really spent right now because I've been up till 2AM every night trying to digest the tax laws of several states I'm considering moving to, and I took a break to get a drink and popped into the forum, saw a thread of the ilk mentioned above, and I thought... I'm not a fastlane expert, but I know this. "This is step A. This is step 1. This is the primal germ of the fastlane, and anyone asking "what can I buy myself" missed it. Doesn't matter if you just hit powerball and are getting $100M after taxes, doesn't matter if you're an NBA starter. If you pick up a dollar, and your first question is "What can this buy me" rather than "Can this buy something worth $1.50, $2.00, or $5.00 to someone else?" you're still in the slow lane or on the sidewalk.

I'm glad other people appreciated the sentiment. This community is what bred this belief in me, so I'm glad I can continue to keep this important idea in the sights of other people who browse here.
 
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D

DeletedUser394

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I really want to order delivery for the dozenth time in the last week or two.. but this thread is stopping me. Damn, guess I'm going to see what I've got in the pantry lol.

Transferred $25 in internet dollars, since you saved me $25 tonight!
 
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Vigilante

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Should be required forum reading. Speed +*4
 
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RHL

The coaching was a joke guys.
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My rep bank after MJ gilded and stickied this post:

giphy.gif


Seriously though, this:

I really want to order delivery for the dozenth time in the last week or two.. but this thread is stopping me. Damn, guess I'm going to see what I've got in the pantry lol.

Made it all worth it. Make that money fight for your freedom!

Actually, check that, being given props for imagery from an author who made over $100K from her books is pretty boss too.
 
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MJ DeMarco

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My rep bank after MJ gilded and stickied this post:

Value pays well and heck, you didn't even need a slick headline to get people rushing the doors. :)
 

RHL

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Kak

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I really want to order delivery for the dozenth time in the last week or two.. but this thread is stopping me. Damn, guess I'm going to see what I've got in the pantry

Transferred $25 in internet dollars, since you saved me $25 tonight!

Ok... There is a difference between building your wealth and being a cheap a$$. If $25 means that much you should probably be trying harder.
 

RHL

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$25*12=300 just in the last "week or two." Nobody ever became obese from one order of fries, or an alcoholic from one drink. If $25 is part of a good process that leads to saving $600+/mo, it does matter a great deal. I just looked over a credit card statement of mine from 5 years ago. $90 on gas. $175 at the grocery store. $85 on cell service. $50 on internet. $1400 on eating out and drinks. That's a mortgage. That's a mortgage for a rental. That's the passive income that could get you free being gobbled and drunk up and pissed out into the bar's urinal. That's why process is all important, even for a $25 expense.
 
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Andy Black

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Nice imagery.

What a great litmus test to determine what lane you are in mentally. If you had $100 would you think what you could spend it on, or what you could invest it in?.
 
D

DeletedUser394

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Ok... There is a difference between building your wealth and being a cheap a$$. If $25 means that much you should probably be trying harder.

I spent about $350 in the last 10 days on takeout.

Every dollar I can put toward investing and traveling is all the better. Only two things I care about other than health.
 
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brambel

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nvm i decided to join a mlm they said i can make a lot of money! i only had to put up $500! so uh who wants energy drinks?

i also bought an older version of the harley i wanted! thanks fastlane dudes!

On a serious note, this kind of thread has become a 'Should I go to college' or 'Should I quit my job' in how common it is for total strangers to ask other total strangers to make decisions for them that can change the course of their life. It's really silly.


In some way you are right but in some way not: you use the total of advices and read through the lines to see new angles you have never seen. But you got to have a high bullshit detector.
 
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MJ DeMarco

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hat's why process is all important

Failures of process always come down to exceptions... exceptions that break the process and carry consequences.

Oh, it's only one cookie...
Oh, it's only one donut...
Oh, it's only one hooker...
Oh, it's only one snort...
Oh, it's only one car...
Oh, it's only 12 easy payments...
Oh, it's only a weekend...
Oh, it's only...
 

DaRK9

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I'm just waiting for someone to ask (non-sarcastically) what to do with their money on this thread.
 

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