Last week, my friend recommended to me this book. I couldn't find it in the bookstore so I did a search of it on the Kindle Store at Amazon.

It's called: The Millionaire Fastlane

Has anyone else read it? It has no review less than 5-stars and there are over 140 reviews. I'm looking for some cons and negative comments about this book from those of you here who have read it. The Kiyosaki's and others have many 3-stars or less. This doesn't even have a 4-star. Just 5 and nothing less.

There are 14 four star or less reviews at Amazon, but that is a low percentage. Sounds like a self help book rather than an investment book to me, but if I can find it at a library I would read it. From the description window at Amazon:
The real law of wealth: Leverage this and wealth has no choice but to be magnetized to you.
The leading cause of poorness: Change this and you change everything.
How the rich really get rich - and no, it has nothing to do with a paycheck or a 401K match.
Why the guru's grand deity - compound interest - is an impotent wealth accelerator.
Why the guru myth of "do what you love" will most likely keep you poor, not rich.

I need some wealth to be magnetized to me, lol.

I have it on my comp, but dono if I can put the link here for upload. probably not.

It's typical don't do whatever else is doing with mix of you can make money fast. In a nutsell:

1. find a niche/ something you provide value et..
2. Make money
3.Automatize the process so you have spare time
4. Put earned money into interest rate earning system
5. Do wat you want

It has a catchy style of writing plus a lot of positive attitude, big numbers etc. I've found it great just for the style of writing but in a nutshell 2p2 member(that is wining in poker) won't found any true value in it when you analyze it.

Sounds like the 4-hour Work Week, which is a good read.

seems write a book and sell enough

Sound like 4-hour Week which is garbage.

All these books are garbage and I can't believe people waste thier time reading them.

I tend to agree with you Henry. I'm sure you have posted book recommendations before, where can I find your recommendations? Or just post them again.

I have never recommended any books. I think all personal finance books are horrible.

why were you against 4-hour work week?

It is basically the bible of the every guy who has a pipe-dream of making it big doing something on the internet that requires no capital. As such it has done a lot of damage encouraging idiots.

Yea, I liked the book but I think it did a terrible thing by not pointing out how the author had that first huge, profitable business and how it has enabled all his freedoms and shots he has taken since. Also didn't mention anything at how lucky he probably was.

How many personal finance books have you read?

I have never actually managed to finish one. I really tried with the e-myth but it was comically bad so I refused to continue. I have looked at most of the books that get trotted out as the best sellers and I'm familiar with their content. The type of people that are evangelical about certain books is also informative. Personal finance books are the diet books of the business world.

It's been proven that encouraging idiots is harmless.

If the e-myth book is not even acceptable to you what books do you recommend when it comes to entrepreneurship and small business?

The opinion on e-myth is shared by every person I know who actually owns a business. Some actually finished it and apparently it gets better but it is just a lessor degree of bad.

I have never come across any book that does a good job of this. It is basically like asking for a good book to teach you how to ski. You learn by doing and by talking to others who have done before or are doing now.

Very wrong. I had read the four work week but this book is completely different to anything out there written by the guy who started limos.com from scratch.

In fact he openly tears apart the four hour work week in his book, he also pulls apart get rich gurus kiyosaki etc saying that the only reason they are rich is that their pedaling get-rich crap he then goes after the law of attraction and also take stabs at that "do what you love" theory as well. It's a really great and fun read.

While all those are thing I agree with and you could also add that he criticizes the group who advocate for living a nitty life as stuff that I would give him points for -- these are all negatives. The book is critical of stuff that people should be critical of but what does it actually offer?

For those who are interested The Millionaire Fastlane is on sale for $3.99.

Just go to the Kindle Store on Amazon and search for it. It's top 3 business bestseller. Probably headed for #1 due to the cheap price.

It's normally $9.99. Great mindset book.

i.e. poker

Lord.

1. Start internet business.

2. ?

3. Enjoy being a millionaire.

"Think and Grow Rich" is ok imo (oldschoooooool though)

Isn't that the book that is basically the equivalent of The Secret?

First of all 'fastlane' by the authors definition is 5 years. This is not get rich quick in the same sense as most of the garbage out there as I agree that 99.99% of these types of books are complete crap as does the author who specifically states this in his book.

This is a very quick rundown. The books focused on two main things NECST and the law of effection.

Very quick summary..

Need:
This is where he attacks the whole do what you love thing. Someone is a hiphop dancer so they sell hiphop clothes etc when there is no market in that particular area. This is selfish you're trying to fulfil your own need. The key to being a success is fulfilling the selfish needs of others. Key point here the author does not define passion as a love, passion comes from deeper level. I want to be rich to help my family, etc.

Entry:
If someone else can enter the market easily then you stay well away from this 'opportunity'. Mainly targets MLM here. Buying a distributor kit and so on. As a side note though he states unless you are exceptional then no barriers to entry are actually beneficial to you eg Pro Poker player, having no or small (money) barriers to entry are hugely beneficial to you. Entry must be a process not an event. If you took one or two actions and you are in business you likely violated the entry rule. Real entry is a much more detailed process.

Control:
MLM etc all violate this. You have no control. Franchises also fall under this although they can make you rich, the real winner is selling them not buying them. Affiliates etc also all violate this rule. It's a basic rule but one many violate, they give up control before they even start and well this can make you rich it will never make you super rich. Fight as hard as you can to maintain control of your business.

Scale:
The standard variable most understand but fail to implement. A business that lacks scalability will never make you super rich. It's a basic rule, but many many business fail here the local corner store and so on. Doesn't need much explanation.

Time:
A rule violated by many self employed people. They exchange their jobs to run their own business and get stuck working 7 days a week for next to nothing. They have violated the rule of time. To get out of this you must automate and implement systematization. Or have margins thick enough to hire human resources. Basically anything that can get you out of literally working in the business. It's a cliche but work on your business not in it.

I've summarised a lot and probably missed lots but this is a basic overview. The author does get more detailed about which businesses fit these commandments and so on. It's a good book. Lots of basic general advice, but then again most books in this category give crap advice so that is probably why it stands out. He also introduces a law he calls the law of effection (no its not the law of attraction the author hates that garbage).

Basically to make millions you must effect millions. You can read the book for this one worth $3.99 no doubt.

If you can't see why NECST is seriously flawed then you are ******ed.