Book Review-The Millionaire fastlane-Crack the Code to Wealth and Live Rich for a Lifetime

Book Review-The Millionaire fastlane-Crak the Code to Wealth and Live Rich for a Lifetime by MJ DeMarco

This is a self-help book that aims to help you achieve financial freedom faster that the defined
retirement age of 60-65 years of age.

In this book, MJ talks about his inspiration of trying to achieve financial freedom when he encountered a young man who drove the latest Lamborghini to the refuel at the gas tank where he was working as a student.

This chance encountered changed his life and he began on his quest to achieve financial freedom.
fast forward 15 years later, he made his wealth in real estate and other online businesses to be able to live the life he desired.

He has a forum which he has created a community to help others along in his quest for financial freedom.

What is different about his teaching is that he teaches you to find opportunities to create great amounts of cash flow in your business. After you have amassed huge amounts of cash flow, you use that money to invest in fixed security instruments that give you a monthly yield, things like bonds, annuities, preference shares, fixed deposits and money market instruments that gives you guaranteed dividends every quarter or half yearly.

These instruments only work if you have massive amounts of cash to invest.
So for instance if you have $100,000 in an instrument that gives you an annual
return of 5%. So if you were to work out the math,

$100,000 at 5% gives you $5,000 annually that gives you $1250 per quarter if the distribution is quarterly. Since there is no capital gains tax in Singapore yet, the amount of money you received
is essentially tax-free.

Now imagine if you can  double ,triple or put in ten times the  the amount of initial investment, this is what will eventually enable you to be financially free living off just your investments.

So if you have $1M at 5% gives you $50,000or $12500 per quarter or $4100 per month.
This amount is sufficient if you are a frugal for a small family without a mortgage.

So this is a book I recommend to

• People who aspire to start their own part-time/small business
• People who want to earn an extra income online
• Small business owners
• Blog shop owners.