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I'm reading The Millionaire Fastlane so that I will soon be able to say that I've read the whole thing. I just finished the first chapter on The Slowlane, so for those who have finished the book you know that I have quite a bit of reading left to do. However, while reading it I began thinking about my experience with a group of "Financial Advisors" that I've work with in the past.
I'll exclude the name of the company, however, it is a MLM company that turns people into "Financial Advisors". I put that in quotes because they are hypocritical. They flaunt many Fastline ideas to potential recruits to get them interested and suck them in but the "advice" that they give to clients is the text book definition of The Slowlane. Essentially their business model is "Get rich fast by teaching people how to get rich slow."
They teach that you need to save, invest, and buy insurance now so that you don't need to in the future. Rent a pile of money while you are working towards building your own pile of money...slowly. Once you have the pile of money you no longer need to rent the pile of money. I guess there is money to be made in teaching people Slowlane.
When I first encountered this company I absorbed what they taught because there was nuggets of truth sprinkled throughout. I lost money due to this company but that's my fault for being naive. Essentially taking their financial advise is like having a guy in a Lamborghini tell you that the fastest way to the finish line is in a Kia.
I'll exclude the name of the company, however, it is a MLM company that turns people into "Financial Advisors". I put that in quotes because they are hypocritical. They flaunt many Fastline ideas to potential recruits to get them interested and suck them in but the "advice" that they give to clients is the text book definition of The Slowlane. Essentially their business model is "Get rich fast by teaching people how to get rich slow."
They teach that you need to save, invest, and buy insurance now so that you don't need to in the future. Rent a pile of money while you are working towards building your own pile of money...slowly. Once you have the pile of money you no longer need to rent the pile of money. I guess there is money to be made in teaching people Slowlane.
When I first encountered this company I absorbed what they taught because there was nuggets of truth sprinkled throughout. I lost money due to this company but that's my fault for being naive. Essentially taking their financial advise is like having a guy in a Lamborghini tell you that the fastest way to the finish line is in a Kia.
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