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The plan is a failure because the plan is based on time and factors you can’t control.
Wealth’s provenance evolves from the three Fs: family, fitness, and freedom.
wealth is defined by freedom.
In the Slowlane, Lifestyle Servitude is created via ascetic saving and investing rituals, whereas Lifestyle Servitude from the Sidewalk evolves from conspicuous consumerism.
Jobs suck because they’re rooted in limited leverage and limited control
How do you get rich in the Slowlane? You get a great-paying job, save money, live frugally, invest in the stock market, and repeat for four or five decades.
To accumulate financial wealth, you need to attract and earn a large sum of money relative to the average person. Two things are absolutely required to do so: Control Leverage
This “time attachment” introduces the Slowlane’s first punitive element of wealth creation.
If leverage is limited, so is wealth creation.
wealth acceleration via compound interest is deficient because its variables are deficient. Neither time nor yield can be leveraged or controlled.
only 10% of Penta-millionaires (net worth $5 million) report that their wealth came from passive investments.
the youthful rich are not leveraging linear 8% returns but an asymmetrical 800%!
Compound interest and a job have the same disease: the sinful and voracious consumption of your time while forsaking control.
any financial plan without control immediately disintegrates into a plan of hope.
Emotions of helplessness create an environment ripe for instant gratification and consumption-driven Lifestyle Servitude.
Income explosion and relative expense containment created wealth.
Fame and notoriety carry a high intrinsic value. People pay extraordinary rates for you or your services, even if you're an unskilled reality-show star.
To switch teams and become a producer, you need to be an entrepreneur and an innovator. You need to be a visionary and a creator. You need to give birth to a business and offer value to the world.
The primary wealth accelerant of the rich boils down to one concept: Appreciable and controllable assets.
If the company you build from scratch has a paper valuation of $60 million and your bank account only has $10,000, are you really a millionaire?
Instead of trading my time for money (manual labor), I traded it for a business system—industrialized wealth production.
Money trees are business systems that survive on their own. They
What sets the Internet apart from real estate is it implicitly contains leverage.
Savers are winners because they eventually become lenders.
Every dollar saved is another freedom fighter in your army.
Fastlaners think globally, not locally.
To activate compound interest’s power, start at the shore, with a large number that can be leveraged.
Fastlaners (the rich) don’t use compound interest or the markets to get wealthy but to create income, preserve liquidity, and deploy capital.
Try not to become a man of success, but a man of value. — Albert Einstein
The Law of Effection states that the more lives you affect in scale and/or magnitude in an entity you control, the richer you will become.
The amount of money you have (or don't have) directly reflects the amount of value you have provided (or not provided).
Scale creates millionaires. Magnitude creates millionaires. Scale and magnitude create billionaires.
Unless commitment is made, there are only promises and hope, but no plans. — Peter Drucker
The leading cause of poorness is poor choices.
If you aren’t where you want to be, the problem is your choices.
when you line a string of choices together, they create your process, and your process will create your lifestyle. Lifestyle choices will make you a millionaire.
Your choices spark the fires of future circumstances.
Downside Asymmetric Risk Event,
When you make minor permutations (choices) that deviate from your initial conditions, profound effects transpire over time.
Until we see what we are, we cannot take steps to become what we should be. — Charlotte P. Gilman
Choices of perception precede choices of action. If you believe and perceive a particular idea, you will likely act on that belief.
Good choices of perception translate into good choices of action. To change your perception is to change your future actions.
If you want extraordinary results, you’re going to need extraordinary thinking. Unfortunately, “extraordinary” is not found trapped in society’s mediocracy and the beliefs that fuel them.
Your past never equals your future unless you allow it.
You have a choice in framing failure and the past. It serves or hinders.
If you’re limited by your past, it will be impossible for you to become who you need to be in the future.
A man only learns in two ways, one by reading, and the other by association with smarter people. — Will Rogers
If you want to push beyond average results produced by average people, you’ll need to adopt an uncommon approach that doesn’t fall in favor of “everyone.”
Extraordinary wealth will require you to have extraordinary beliefs.
If you turn your back to a headwind, it becomes an accelerant.
