TMBA534: The Re-Readables: The Millionaire Fastlane

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We’ve recently been revisiting some of our favorite business books on this podcast as part of a series we call “The Re-Readables”.

What makes this week’s installment of that series so special is that we have been joined by the author of the featured book.

MJ DeMarco wrote The Millionaire Fastlane in 2010 and, since then, it has continued to grow in popularity.

The basic premise of the book is that the many of the most successful people have found ways to step off of the “slow lane” or the “sidewalk” to join the “fast lane”, usually through entrepreneurial endeavors.

MJ joins us today to talk about the legacy of The Millionaire Fastlane, why it is still as relevant today as it was when it was released, his thoughts on the FIRE (Financial Independence, Retire Early) movement, and much more.

Transcript

 

Listen to this week’s show and learn:

  • What M.J. believes is the legacy of the book. (6:45)
  • M.J.’s “CENTS” framework for entrepreneurship. (12:01)
  • Where people struggle the most trying to get on the fast lane. (18:12)
  • M.J.’s thoughts on the FIRE community. (27:59)
  • Why M.J. believes that following your passion is bullshit. (35:20)

 

Mentioned in the episode:

 

This Week’s Sponsor:

This week’s podcast is sponsored by Bean Ninjas.

If you’re anxious about your business finances, today’s sponsor has an offer for you.

Bean Ninjas is an online bookkeeping and financial education company that has been helping entrepreneurs achieve freedom through stress-free finances for almost five years.

They were recently named Xero bookkeeping partner of the year in 2019, and they are offering to train you on how to effectively use Xero to manage your finances with their “How to Do Your Bookkeeping in Xero” online course.

As a special offer to Tropical MBA listeners, you can get 25% off this 5-week course. Head over to BeanNinjas.com/TMBA for more details.

 

 

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Thanks for listening to our show! We’ll be back next Thursday morning 8AM EST. Cheers, Dan & Ian