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

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

MJ DeMarco

Administrator
Staff member
EPIC CONTRIBUTOR
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Jul 23, 2007
28,799
97,806
3,751
Fountain Hills, AZ
What "things" are you referring to that bring more value to other people?
How about, why are you here?

You're reading a forum with information. The information is free. I'll assume because the price point is ZERO, it brings value to you.
 

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

HelpAndProsper

Contributor
I've Read UNSCRIPTED
Apr 1, 2018
62
79
118
45
Boston
How about, why are you here?

You're reading a forum with information. The information is free. I'll assume because the price point is ZERO, it brings value to you.
Yes, at the time, I saw a lot of generalities with no specific examples, but now I've seen some great threads about the Web Dev business and the recent one about starting a videography business. Specific examples really help a budding ent. like me. Just hearing "things that create value" doesn't click. That's all I was saying.
 

Surpasser

New Contributor
Oct 19, 2017
9
16
15
Man I just started and I find it funny as soon as my thinking tries to go back to slowlane inertia, I read something like this and have "aHA!" moment.

Thanks for this feeling man, been a while since I had my mind pleasured in this way.
 

The Abundant Man

Gold Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Jul 3, 2018
1,364
1,914
555
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.
One of the concepts that I liked about Rich Dad Poor Dad was Assets over Liabilities. Sure Kiyosaki's definitions isn't CPA certified but they still ring true. Assets bring you money while Liabilities take money away from you. Build assets first then you can purchase liabilities
 

HelpAndProsper

Contributor
I've Read UNSCRIPTED
Apr 1, 2018
62
79
118
45
Boston
One of the concepts that I liked about Rich Dad Poor Dad was Assets over Liabilities. Sure Kiyosaki's definitions isn't CPA certified but they still ring true. Assets bring you money while Liabilities take money away from you. Build assets first then you can purchase liabilities
I'm a sucker for buying dividend producing assets such as stocks and some bond etfs. I know the yield isn't very high right now, but there is something about seeing those dividend deposits every 3 months into my account no matter if the overall market is going up or down. :)

Now, as far as FL concepts, I'm trying to focus on investing some of my money into training so that I can become a better producer of value. Hence, I don't mind paying for web dev courses, copyright training, Adwords management, etc.
 

MJ DeMarco

Administrator
Staff member
EPIC CONTRIBUTOR
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Jul 23, 2007
28,799
97,806
3,751
Fountain Hills, AZ
but there is something about seeing those dividend deposits every 3 months into my account no matter if the overall market is going up or down.
I go one step further, I have a physical check sent to my address, so I literally turn it into mailbox money.

Opening up a mailbox to a check never gets old, especially if you don't attribute that check to some type of work, or job. It's like winning the lottery. This makes the process very tangible, as opposed to seeing your digital balance increase by X dollars.

Likewise, I like taking option gains for the month and transferring that to CASH.

When you put the gains into CASH, it really brings it into REALITY.

Again, digital numbers on a screen can make the whole process intangible and distant, kinda like gaming chips at a casino. We don't want that!

IMG_0033.JPG
 

Edwin Fernandez

Freedom
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Feb 7, 2018
63
96
126
Boston
I go one step further, I have a physical check sent to my address, so I literally turn it into mailbox money.

Opening up a mailbox to a check never gets old, especially if you don't attribute that check to some type of work, or job. It's like winning the lottery. This makes the process very tangible, as opposed to seeing your digital balance increase by X dollars.

Likewise, I like taking option gains for the month and transferring that to CASH.

When you put the gains into CASH, it really brings it into REALITY.

Again, digital numbers on a screen can make the whole process intangible and distant, kinda like gaming chips at a casino. We don't want that!

View attachment 20795
Holy $h1t at the picture of all that dough! That looks like quite a bit of autonomy to me.
 

MJ DeMarco

Administrator
Staff member
EPIC CONTRIBUTOR
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Jul 23, 2007
28,799
97,806
3,751
Fountain Hills, AZ
Holy $h1t at the picture of all that dough!
Yea, it looks like a ton of money (it's only about $8K) which is why I do that. It gives perspective to effort and their corresponding results. Without making it tangible, I'm left with a number of a computer monitor which feels, dare I say, distant and fake.
 

Robert321

New Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Aug 6, 2018
8
8
20
20
Bucharest, Romania
On the other hand, don't give up important things in your life just to save a few bucks (like your health, or quality food)
 

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

BrettA

Contributor
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Aug 18, 2017
26
51
25
Miami
Yea, it looks like a ton of money (it's only about $8K) which is why I do that. It gives perspective to effort and their corresponding results. Without making it tangible, I'm left with a number of a computer monitor which feels, dare I say, distant and fake.
This is a good exercise for some of us MJ. Thanks for the tip. I'll never forget the first time we had a very large wire sent after some modest success, the feeling my wife and I had were "eh, it's there now so . . . " Now if only there were some way to get cash without the painful experience of going to the local branch, hmmm.

PS - Today is my first anniversary being a forum member (and last time I'll mention it until maybe the 10th year or so)
 

cjh382

New Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Aug 4, 2011
15
5
17
Long Beach, CA
Opening up a mailbox to a check never gets old, especially if you don't attribute that check to some type of work, or job. It's like winning the lottery. This makes the process very tangible, as opposed to seeing your digital balance increase by X dollars.

Likewise, I like taking option gains for the month and transferring that to CASH.

View attachment 20795

How did you get into options trading? I've read a few books and YouTube videos, considering a uDemy course in it--but a lot of the material online seems wishy-washy and/or copy and paste from the same websites.
 

Create an account or login to comment

You must be a member in order to leave a comment

Create account

Create an account on our community. It's easy!

Log in

Already have an account? Log in here.



Don't like ads? Remove them while supporting the forum. Subscribe to become an INSIDER.

Post New Topic

Please SEARCH before posting.
Please select the BEST category.

Post new topic

Fastlane Insiders

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

Join Fastlane Insiders.

Top Bottom