alex1000
PARKED
Step 1 and 2. ??? Define the car, step 1. Ok, any Toyota 25,000 a year or less. Monthly cost of maintenance but I am not listing the purchase price in step 1 or 2?
3 cars maintenance cost is 2000 month.
Step 1, list the total purchase cost of the items. Okay.
In step 2, list the monthly cost for each (this maintenance cost, taxes and insurance). Okay.
$10,000. But the $10,000 is not buying the 3 cars, house, cabin, it is just paying taxes and maintenance on it. Okay.
Next, your monthly allowance and unknowns. Lifestyle cost is 10000. Adding onto it 4000 a month, which is Allowances. Gross plus Lifestyle Cost is 14000 a month. This is called Gross Living Cost in the book on p. 357.
What is throwing me is that this 14000 a month represents maintenance cost, not purchase cost. Taxes, utilities, maintenance, insurance, etc. I didn’t see monthly payments or pay all cash for the car or house. ( I paid $1900 all cash for a house in 1990 and lived in it for almost 20 years).
So the book says Gross Living Cost is $14,000 a month. Divide the Gross Living Cost by .60. This accounts for (income) taxes. This is Step 2. I still don’t know about the 7000 a month for 3 cars and a house. Should I assume the 7000 is paying the mortage or rent, and the rental or monthly payment of the car is in that 7000? Monthly cost for each? I guess it is?
Lifetsyle cost, gross living cost, net living cost. Three costs.
I am lost here.
Chapter 1 to 36 makes sense. The metaphors and the road is described nicely.
Chapter 37, I am lost in the numbers. Here, for me, the numbers go “off the road”.
3 cars maintenance cost is 2000 month.
Step 1, list the total purchase cost of the items. Okay.
In step 2, list the monthly cost for each (this maintenance cost, taxes and insurance). Okay.
$10,000. But the $10,000 is not buying the 3 cars, house, cabin, it is just paying taxes and maintenance on it. Okay.
Next, your monthly allowance and unknowns. Lifestyle cost is 10000. Adding onto it 4000 a month, which is Allowances. Gross plus Lifestyle Cost is 14000 a month. This is called Gross Living Cost in the book on p. 357.
What is throwing me is that this 14000 a month represents maintenance cost, not purchase cost. Taxes, utilities, maintenance, insurance, etc. I didn’t see monthly payments or pay all cash for the car or house. ( I paid $1900 all cash for a house in 1990 and lived in it for almost 20 years).
So the book says Gross Living Cost is $14,000 a month. Divide the Gross Living Cost by .60. This accounts for (income) taxes. This is Step 2. I still don’t know about the 7000 a month for 3 cars and a house. Should I assume the 7000 is paying the mortage or rent, and the rental or monthly payment of the car is in that 7000? Monthly cost for each? I guess it is?
Lifetsyle cost, gross living cost, net living cost. Three costs.
I am lost here.
Chapter 1 to 36 makes sense. The metaphors and the road is described nicely.
Chapter 37, I am lost in the numbers. Here, for me, the numbers go “off the road”.
Dislike ads? Become a Fastlane member:
Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)
Last edited:
Access Restricted: Unlock 1,000,000+ Posts
Stop Peeking Through the Keyhole.
Open the Door.
You hit a wall because the best advice isn't free—it's earned. Since 2007, MJ DeMarco has been active here daily (99.9% active rate), building a war room for entrepreneurs who refuse to settle for mediocrity.
- Active Daily: Life-changing content posted dozens of times every day. No dead threads.
- MJ's Inner Circle: Direct access to the author of The Millionaire Fastlane.
- Vetted Network: Connect with founders scaling to 7 and 8 figures.
- Proven Roadmaps: Strategy over motivation. Execution over "hustle porn."
"SCALED TO 6-FIGURE MONTHS"
"Tips and advice here saved me from huge mistakes, others allowed me to scale my business to 6-figure months."— User MitchC
"INSANE QUALITY OF PEOPLE"
"The number of high quality people I've met from this forum has been insane. All of it predicated on building real value."— User Richard Peck
"You are the average of the five people you surround yourself with."
Are you surrounding yourself with success?
