Previous discussion on the book here:
https://forum.mrmoneymustache.com/welcome-to-the-forum/i-am-a-half-breedI had not read it when that thread was created, but I added it to my list and subsequently read it.
As I said at the beginning:
Anything purporting to make you Get Rich Quick immediately sets off alarm bells in my head, and naming a book "The Millionaire Fastlane: Crack the Code to Wealth and Live Rich for a Lifetime" doesn't help.
But it was actually really, really good, I agreed with the vast majority of the stuff the author said.
Here was my mini-review:
Okay, I finished the book.
I have a lot of respect for the author, and I'd say I agree with 90-95% of what he said (which is huge, for me).
If I wanted to become a multimillionaire, I'd probably reread it at least twice more.
I think it's largely compatible with Mustachianism as long as you don't buy into the lifestyle inflation and rampant consumerism that often comes with that type of money.
Unlike Ramit of "I will teach you to be rich" and many other get rich quick shenanigan "gurus," MJ actually advocates hard work, and his Fastlane is essentially promoting a business that is scalable and impactful. His "Fastlane" will still take years - it's not an overnight thing - and he specifically emphasizes the process over the event.
I do think it's largely unnecessary for a Mustachian. Once you have "enough," do you need that much more? And I think that one would actually be happier learning to live on 40k/year than having gobs of money and spending 200k/year.
My own FI plan is, by my current calculations, at less than four years to fruition. Starting a "Fastlane" type business would just add needless risk. I think you summed it up pretty well here:
For the Mustachian, probably the weakest point of the book will be what it's missing, viz. a sustained consideration of frugality as a shortcut to FI. The Mustachian approach has nearly the same window of time as Fastlane Millionaire-like entrepreneurship would have (and very well may include some of its own entrepreneurship), but with much less risk.
It's also not a book you can just go partway on. It's all about starting a business that meets his different criteria. That's great, but unless you're looking to become a business owner (different than "be your own boss" - which is often just a job, not a business), it doesn't necessarily have a lot for you.
So I think it's not as useful for most Mustachians.
But, like I said, if I wanted to become a multimillionaire in the next 10 years, I'd be reading it again. And again.
I fully agree with almost everything he wrote. I just don't have much desire for that myself, since my desires are simpler.
Anyone wanting to hit multimillionaire status in a decade and is willing to work very hard to do so, I'd highly, highly recommend this book.
Like I said, I'm going to FIRE soon anyways (now just two years away). But if I wanted to make 10-50 million, I'd instantly go reread it, and implement lots of stuff in it (along with some other stuff in my head). If you're good with FIREing with "enough," it's probably not worth it. You'll have to start and ramp up a whole business, which is useless when you FIRE. But if you want to make multiple millions, this is a great book.
