ETG Podcast 6: A Drive Down The Millionaire Fastlane With MJ DeMarco
Jun

ETG Podcast: Episode 6
Podcast: Play in new window | Download
I had never heard of MJ DeMarco until about a month ago when I was listening to one of Pat Flynn’s Podcasts, in which he interviewed MJ. I was literally blown away by MJ’s story and his philosophies on success and business. MJ DeMarco is a self-made multi-millionaire and the author of The Millionaire Fastlane: Crack the Code to Wealth and Live Rich for a Lifetime.
MJ is living the lifestyle that most people will only ever dream about and has a fascinating story to tell about how he got to where he is today. The thing I like about MJ is that he is very direct and very confident about the right ways and the wrong ways to become wealthy.
There is NO fluff here, no Suze Orman or Ric Edelman propaganda, just a no bullshit approach to getting wealthy quickly. Although his book, The Millionaire Fastlane, sounds like another get rich quick and easy gimmick, it is far from it. It’s about getting rich much sooner than the traditional means of becoming wealthy.
The traditional means being investing in your 401(k), saving 10% of your paycheck, cutting back on expenses, and sacrificing your lifestyle until retirement. While these things are an important part of the financial planning process, they are not the best way to achieve wealth and certainly not rapidly.
In his view, the traditional savings/budgeting method of building wealth is simply a lifetime subscription to mediocraty. I couldn’t agree more. As a financial planner, I see this every day. People save their whole lives just to realize that they can barely afford to retire. People scrape by and live frugally for 50 years thinking it’s the solution to a great retirement, only to find they have to find another job because they cannot afford to retire at all! It’s a completely flawed system and one that MJ very articulately breaks down. I love his book and his message hits me dead on.
Needless to say, I had to talk with him! I could have spoken with MJ for hours picking his brain and learning as much as I could from him. We did have a great interview and some of the things I found most useful and hopefully you will as well are:
- The insanity behind trading 5 days for 2
- Why traditional retirement is based on hope
- The best investment you can make
- The difference between a “slow laner” and a “fast laner”
- The flaw behind trading time for money
- How to create a scalable asset that can earn money for you passively
What I like so much about MJ’s philosophy is the idea behind creating wealth while we are still young enough to enjoy it. It just make so much sense! Why do we want to be the wealthiest person in the nursing home? It’s a completely backwards way of doing things. As he says, money is an unlimited resource and time is not.
Think about that, seriously. Whether you are an entrepreneur or an employee looking for a better plan than working a job until age 68, you really should take a look at his book, The Millionaire Fastlane: Crack the Code to Wealth and Live Rich for a Lifetime. This is actually the first affiliate link I’ve used in almost 8 months of blogging here, so I shit you not, this book is incredible! Now go read up! MJ is all over the place and here are several spots you can find him online:
- TheFastlaneForum.com
This was a great experience for me and I hope you pay attention to what he has to say, this is really valuable stuff! Thanks for listening and don’t forget to subscribe to my Podcast in iTunes!

Justin | Mazzastick
Hey Steve,
I am looking forward to listening to the podcast. Trading 5 days for 2 sounds interesting to me. Why is this the norm anyway?
For most the weekends are for catching up on chores and other low level tasks.
I can’t see waiting much longer to become financially independent.
Steve
Justin,
My interview doesn’t do the book justice. There is so much good info and we barely scratched the surface. Are you close to becoming financially independent?
Justin | Mazzastick
Hey Steve,
I actually listened to the interview several times after my comment.
My goal is to blog full time and to be able to live off of that.
I am not financially independent from that means yet. Trading time for money sucks so I am looking into passive ways to earn income, blogging being one of them.
Steve
I hope you were able to get some useful information from MJ, he definitely knows a ton about success. Your goal of blogging full-time won’t come easy but I’m sure will be well worth it when it does happen.
What else are you working on that will provide passive income?
Justin | Mazzastick
I have a product invention that I have been working on. I presented it to one investor so far. He’s been mulling it over. Still waiting for the reply.
Steve
That’s cool. Will we be seeing you on “The Shark Tank”?? 🙂
Peter Joseph
I started reading this thinking, yep, this has certainly got to be just another one of them get rich quick schemes that won’t work.
Sounding awesome so far, and i’ve just subscribed to his blog, so thanks 🙂
Steve
Peter,
You can download the first 3 chapters of his book here, but it’s really a great read.
Thanks for subscribing and I hope to see you around.
Peter Joseph
Thanks Steve 🙂
Steve
Hi Christian,
There are a number of really strong points in the book that really get us thinking about how we’re spending our time and how to make the most of it. The 4HWW really hit me hard as well and I see some similarities between the two.
Sadly, most will
wastespend their whole life doing unimportant and unfulfilling work and still never be wealthy…Welner
Thanks for interviewing this guy. I’m reading his book right now and it’s pretty cool. As far as you Steve keep working hard one day it’ll pay off. I feel the same way you do with building a business and having a family…. “It’s tough, I know trust me!”
Steve
It was fun chatting with MJ. Glad you are reading his book. I think anyone looking to start their own business should read this. Unfortunately, I think hiss message will be lost on all the “sidewalkers”, and there are millions of them…
Trying to build my business with a full-time job, part-time work, and 2 small children is HARD! No matter, I am 100% committed to succeeding with this blog, so I’m in it for the long haul.
What kind of business are you building?
Welner
My wife and I are creating a cosmetic product for women!
Chris
Sounds like an interesting book – and so true that the traditional advice of saving and cutting back on spending won’t make you rich. (although it is still good advice for us debt crazed Americans 🙂
I look forward to reading the book, just downloaded it for the Nook. 🙂
Steve
Chris,
I hear that! We do love us some debt, don’t we? Glad you got the book, it’s fantastic!