Most Important Concepts:
- The young twenty-something who got rich clipping coupons does not exist.
- Wealth is not an event, it is a process.
- Luck is created by increased probabilities that are improved with habitual action or process.
- The intrinsic value of a job is numerically limited because there are only 24 hours in a day, and the average lifespan is 74 years.
- Compound interest is also pegged to time. By the time your investments have compunded, you will be old, and inflation will have eaten big portions of it’s value away.
- ’Get rich easy’ does not exist.
- The law of effection: The more lives you affect in scale and/or magnitude in an entity you control, the richer you will become.
- To live unlike everyone else, you must do what everyone else won’t.
- CENTS is the fastlane litmus test, and validates your road.
- If you can’t control every aspect of your company, you’re not driving.
- Businesses with a low barrier-of-entry are weak roads because easy entry creates high competition and high traffic, all of which share the same pie.
- The marketplaces, not you, determine if your business is viable.
- A company that earns income exclusive of your time satisfies the commandment of time.
- Scale is achieved in reach and/or magnitude.
- Ideas are just multipliers while execution represents actual money.
- The world gives clues to the direction you should be moving.
How Can I Use this Info:
Chapter Recap:
Part 1 - Wealth in a wheelchair: ”Get rich slow” is get rich old