Free The Millionaire Fastlane by M.J. DeMarco Page B

(cars, boats, designer clothes).
Lifestyle/debt forces work.
Repeat …
    I learned about Lifestyle Servitude in my early 20s. After college graduation, I took a hellacious job as a construction laborer in Chicago and fought city traffic daily. The pay was more than I had ever earned at my young age, and with my increase in income, I felt wealthy. So what did I do? I elevated my lifestyle and financed the illusion of wealth. I bought my first sports car, a Mitsubishi 3000GT.
    It didn't take long for me to realize that my dream car wasn't an icon of wealth, but a parasite that fed on my freedom. I hated my job, it was stressful, and it drained my energy, leaving my entrepreneurial dreams tethered. I couldn't quit. I had responsibilities: car payments, gas, and insurance. Because of my obligations to “stuff,” I had sentenced myself to imprisonment in a job I loathed.
    Yet, this type of servitude is normal. We're taught to strive for the latest and greatest regardless of consequence. It leaves us indentured for years, condemning us to lifestyle imprisonment… and the more stuff you buy that you can't afford, the longer your jail sentence becomes.
    If You Think You Can Afford It -You Can't
    Think about the last time you bought a pack of gum. Did you fret over the price? Did you ask, “Hmmm, can I afford this?” Probably not. You bought the gum and it's done. The purchase had no impact on your lifestyle or your future choices. To a rich man who walks into a dealership and buys a six-figure Bentley without thought, the acts are the same. Affordability is when you don't have to think about it. If you have to think about “affordability,” you can't afford it because affordability carries conditions and consequences.
    If you buy a boat and resort to mental gymnastics over affordability, YOU CAN'T AFFORD IT. Sure you can assuage affordability and make outlandish arguments, often starting with…
    “ I can afford this as long as …
… I get that promotion.”
… my mortgage doesn't adjust.”
… my stock portfolio makes another 10% this month!”
… my sales forecasts are double.”
… my wife finds a job.”
… I cancel my health insurance.”
    This self-talk is a warning that you can't afford it. Affordability doesn't come with strings attached. You can bluff yourself but you can't bluff the consequences.
    So how do you know if you can afford it? If you pay cash and your lifestyle doesn't change regardless of future circumstances, you can afford it. In other words, if you buy a boat, pay cash, and are NOT be affected by unexpected “bumps in the road,” you can afford it. Would you regret a gum purchase if you lost your job a week later? Or if your sales forecast was slashed by 50%? Nope, it wouldn't make a difference. This is how affordability is measured against your level of wealth.
    To overcome wealth impersonation, know what you can and can't afford. There is nothing wrong with buying boats and Lamborghinis if you can truly afford them. There is a time and a place to indulge. The Millionaire Fastlane is designed to bring you to that place.
    The Bait of Lifestyle Servitude
    The siren call of Lifestyle Servitude is the false prophet of feel-good-instant gratification and immediate pleasure. Wouldn't it be nice if everything that felt good were good? Chocolate? That super-sized fast-food combo meal? Sunbathing? Smoking? Unfortunately, short-term feel-good is often long-term bad. Instant gratification is a populous plague and its predominant side effects are easily spotted: debt and obesity.
    Many Americans are fat because the easiest (and cheapest) instant gratification comes from food. When you plop your butt on the recliner and maul through a can of Pringles, you choose pleasure now in lieu of pain later. If you live with your parents and you finance $45,000 over 72 months for a new Mustang based on a$31,000-a-year bartender's wage, you let instant gratification win, and Lifestyle Servitude ensues.
    Wealth,