Fastlane is education on how to scale and make money, but what about keeping the money that you do make?
I've made a few million dollars in total income in my ~15 odd years in business for myself, the large chunk of it from the internet. And yet today I have a sub $50k net worth to show for it. I have had many excuses for living so wastefully, being young, being a brown person with a worthless passport/limiting my ability to travel and access opportunities, being an alcoholic etc. But I have slowly but surely been defeating each of those excuses/supposed weakness and now intend to keep/save most of the money that I make.
My sources of inspiration and education in this regard are primarily the Money Mustache blog and the Dave Ramsey show, although the latter is targeted more at the American middle class (not necessarily Fastlaners), the essence of what he says is solid globally.
Personal finance or how much money you have at the end of the day for yourself is even simpler than calories based weight control. Only 2 things influence it in the given moment (income and outgo) and 2 more in the bigger picture/long term (time and compound interest).
To succeed in any goal, it helps to visualize the result or outcome that you want. I know that Fastlane says not to chase money, and that's good advice insofar as to making it, but when it comes to keeping it- because this requires a great effort in delayed gratification, it helps to visualize the light at the end of the tunnel or the final reward. I calculated my final number using the 4% rule. This will put me at a position of F*ck you.
Basically it means that if you can save 300x your ideal/comfortable (yet realistic) monthly outgo, you are a free man.
The fastest way to accomplish that nest egg is to decrease outgo first, and increase income 2nd.
If you already have some knowledge or experience in making a buck for yourself, your problem is likely not a lack of income, but the lack of awareness of the true cost of things that you spend money on.
Try putting the amount of money you spend on anything non-essential into a compound interest calculator to know the true cost, and it gets uglier if it's a recurring expense.
If you think about "quality of life" and trading off comfort for savings/reaching your goal it indicates that you are not serious about the goal. Slaves and delusional beggars don't qualify for comfortable living. Only Free men do. Become a free man first (achieve the 4 percent rule.)
Some or a lot of this may be obvious to you, but it isn't for many. And I write it down as a way to reaffirm it for myself and to help others who need it.
I've made a few million dollars in total income in my ~15 odd years in business for myself, the large chunk of it from the internet. And yet today I have a sub $50k net worth to show for it. I have had many excuses for living so wastefully, being young, being a brown person with a worthless passport/limiting my ability to travel and access opportunities, being an alcoholic etc. But I have slowly but surely been defeating each of those excuses/supposed weakness and now intend to keep/save most of the money that I make.
My sources of inspiration and education in this regard are primarily the Money Mustache blog and the Dave Ramsey show, although the latter is targeted more at the American middle class (not necessarily Fastlaners), the essence of what he says is solid globally.
Personal finance or how much money you have at the end of the day for yourself is even simpler than calories based weight control. Only 2 things influence it in the given moment (income and outgo) and 2 more in the bigger picture/long term (time and compound interest).
To succeed in any goal, it helps to visualize the result or outcome that you want. I know that Fastlane says not to chase money, and that's good advice insofar as to making it, but when it comes to keeping it- because this requires a great effort in delayed gratification, it helps to visualize the light at the end of the tunnel or the final reward. I calculated my final number using the 4% rule. This will put me at a position of F*ck you.
Basically it means that if you can save 300x your ideal/comfortable (yet realistic) monthly outgo, you are a free man.
The fastest way to accomplish that nest egg is to decrease outgo first, and increase income 2nd.
If you already have some knowledge or experience in making a buck for yourself, your problem is likely not a lack of income, but the lack of awareness of the true cost of things that you spend money on.
Try putting the amount of money you spend on anything non-essential into a compound interest calculator to know the true cost, and it gets uglier if it's a recurring expense.
If you think about "quality of life" and trading off comfort for savings/reaching your goal it indicates that you are not serious about the goal. Slaves and delusional beggars don't qualify for comfortable living. Only Free men do. Become a free man first (achieve the 4 percent rule.)
Some or a lot of this may be obvious to you, but it isn't for many. And I write it down as a way to reaffirm it for myself and to help others who need it.
Dislike ads? Remove them and support the forum:
Subscribe to Fastlane Insiders.
Last edited:
