The Millionaire Fastlane: Crack the Code to Wealth and Live Rich for a Lifetime

by M.J. DeMarco

Here’s another moronic risk, and it took me this chapter to uncover it. I’m writing this book on a cloud computing application. That means I’m writing to an external source, or an external server. I have not made copies of my work. If the cloud server fails, my work is gone. Yes, moronic risks come in all sizes and flavors, and this makes me the idiot of the day. Excuse me while I go back up my work. OK, I’m back. Now let’s talk about intelligent risks. When I invest $100,000 in an Internet company, I’m engaging in an intelligent risk. When I sold my Internet company, I reinvested part of the proceeds back into the company. Why did I invest $100,000 and expose myself to the risk? I assessed the acquiring company’s probability of success to be decent. Their goal was to take my small company and transform it into a $100 million company. If they succeed, my small $100,000 investment would be worth millions. The downside? The company could fail and my investment’s value would lose most of its value. My downside is limited while the upside is substantial. This is an intelligent risk. If you quit your job to pursue a Fastlane business, it’s an intelligent risk. Your upside could be millions. The downside? You might have to live below your standards: mop floors, flip burgers, eat rice and beans, and ride your bike to the grocery store. Or worse, deny your child the latest iPhone. Is that really that bad? Not if you know your destination and your commitment to the roadmap. Again, ...