By the way, being rich doesn’t necessarily mean that you live in a mansion and you take baths in gold coins like Scrooge. He says that if you really like what you do, it’s completely fine, but you have to be aware of it. Just like the systems we put in place to accumulate savings and investments.īy the way, DeMarco doesn’t say that being a Slowlaner is bad. Luckily, with my wife, we both have similar visions on our long-term finances and that helps to stay in control. I’m a Slowlaner myself and I tend to feel from time to time that I’d have the tendency to become a Sidewalker - not the debted one at least. In fact, DeMarco claims that at certain points even a lot of Slowlaner become a Sidewalker because they just got fed up with working hard and saving money for the far future. The vast majority of us are either a Sidewalker or a Slowlaner. ![]() Leave it aside from how much those two days are yours with all the chores and so on. The problem is that you have to work a lot, in most cases 5 days a week to get 2 that is yours and the way to riches is not just long, but also not so fun and full of frugality. They have to save some money regularly so that one day they can retire and then they can die in a relative riches. The Slowlaners are those who understand they have to put some money aside. The Sidewalkers are the group who don’t have even a far, slight vision of becoming wealthy - or to have a healthy financial situation. In the worst case, they spend even more than they have and build a massive debt. They are the average people who don’t know a lot about money and regardless of how much they earn, they will spend it all. He differentiates between 3 types of people. Once you are one, it’s really useful to keep you there in the rich zone, but it’s virtually useless to get there. It doesn’t mean he doesn’t value compound interest, but he says it’s not a good way to become wealthy. He doesn’t find it appealing, not to say sexy. ![]() Put aside a few bucks every month and by the time you’ll turn to 80, thanks to compound interest, you’ll be rich. ![]() What he really hates is the become rich slow schemes. That’s not a problem at all, nobody has to be wealthy, but if you write about how to become rich, you’d rather be one.ĭeMarco is rich and he became one on his own. It sounds like a clickbait, doesn’t it? Far too often these books are written by people who by all means live a decent life, but that’s all. MJ DeMarco in his book offers to “crack the code to wealth” so that you can “live rich for a lifetime”.
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