My guest today is MJ DeMarco, author of The Great Rat Race Escape. MJ DeMarco is an entrepreneur, investor, and bestselling author of The Millionaire Fastlane.In this episode, MJ shares advice on how to escape the rat race, the myth about compounding interest making you rich, how to find the right business opportunity, advice he would give to a 21-year old kid today, and much more. TIMESTAMPS:[00:17] - Defining the Script that 99% of people follow [2:00] - The myth of compound interest & investing for 40+ years[6:30] - How MJ escaped the rat race & how you can too[11:45] - Advice MJ would give to a 21-year old kid today[13:55] - The truth about passive income[17:35] - The biggest business in the world: Shortcuts[20:00] - How to find the right business opportunity[27:00] - The cornbreads vs champagne principle[29:50] - Does your network = your net worth?[32:00] - Can money buy happiness or not?[37:00] - The Right Book strategy[39:30] - The 1/2/3 Marriage strategy[42:30] - MJ’s favorite lessons from his book[47:00] - Two books that had a huge impact on MJ’s lifeResources:Twitter: @MJDeMarcoWebsite: MJDeMarco.com***If you enjoyed this podcast, make sure to subscribe.Every week I send out a free newsletter with actionable advice from amazing books. Join 8,700+ readers here.Connect with Alex & Books:Twitter: @alexandbooks_Instagram: @alexandbooks_YouTube: Alex and Books

MJ DeMarco, author of The Millionaire Fastlane, shares on setting achievable goals, the importance of consistency, and the need to define your destination. Learn how to navigate challenges and maintain focus on your journey towards success.

IN THIS EPISODE, YOU’LL LEARN: 04:30 - Why MJ chose entrepreneurship as his preferred path to building wealth. 09:52 - MJ’s journey to building his first successful business. 18:14 - How he knew it was time to sell out of his business.  22:19 - Why following your passion in starting a business is bad advice. 26:03 - What MJ’s definition of wealth is. 40:14 Ways in which entrepreneurs can validate their business ideas. And much, much more! *Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.BOOKS AND RESOURCES Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Kyle and the other community members. Check out MJ’s book, The Millionaire Fastlane. Check out MJ’s book, Unscripted. Check out MJ’s book, The Great Rat Race Escape. Read MJ’s Fastlane Forum. Robert and Clay’s tool for picking stock winners and managing our portfolios: TIP Finance. Related episode: MI069: Practical Strategies For Starting A Business W/ Steve Hoffman. Related episode: MI071: How To Become A Successful Entrepreneur w/ Sean Castrina. Get a FREE audiobook from Audible. Check out our Investing Starter Packs about business and finance. SPONSORSSupport our free podcast by supporting our sponsors: Range Rover Toyota Public Airbnb Fundrise NetSuite  Read this episode’s transcript and full show notes on our website.Connect with MJ: Books | LinkedIn | YouTube Connect with Clay: TwitterHELP US OUT!Help us reach new listeners by leaving us a rating and review on Apple Podcasts! It takes less than 30 seconds and really helps our show grow, which allows us to bring on even better guests for you all! Thank you – we really appreciate it! Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fmSupport our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fmSupport our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fmSupport our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fmSupport our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fmSupport our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fmSupport our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fmSupport our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fmSupport our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fmSupport our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fmSupport our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fmSupport our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fmSupport our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fmSupport our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fmSupport our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fmSupport our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fmSupport our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fmSupport our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fmSupport our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fmSupport our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fmSupport our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fmSupport our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

MJ DeMarco, an entrepreneur and international best-selling author, shares his unique journey from building a successful business to selling it. He critiques the common advice of following your passion, suggesting instead that entrepreneurs focus on market needs. MJ redefines wealth, prioritizing personal freedom over conventional financial metrics. Listeners learn about validating business ideas and the advantages of finding less competitive industries, highlighting the potential for asymmetric wealth creation through innovative entrepreneurship.

Guest MJ DeMarco, founder of Viperion Publishing Corp. and The Fastlane Forum, shares insights on breaking free from societal norms, creating value in entrepreneurship, embracing feedback loops, and challenging traditional views on wealth creation. The episode explores the importance of prioritizing health and living an unscripted life for personal growth and success.