Why Saving Money Won't Make You Rich
51sChallenges the traditional retirement-saving advice by arguing it's ineffective for achieving financial freedom before 65.
▶ Play Clip"Title promises 4 books that make you financially free, and the video delivers exactly that with solid explanations and examples."
This video recommends four books that provide a 'firmware update' on how to think about money and building wealth. The speaker argues that traditional advice of getting a good job and saving slowly no longer works, and instead advocates for entrepreneurship as the fastest path to financial freedom.
First recommended book by MJ DeMarco. Introduces three paths: sidewalk (living paycheck to paycheck), slow lane (job, save, invest, retire at 65), and fast lane (entrepreneurship, work for yourself, no cap on earnings).
Slow lane is the traditional path taught by parents: good university, job, save, invest, become rich at 65. This used to work but no longer due to job instability and rising costs. Fast lane means working for yourself with potential to become financially free in 5-10 years.
Unless you earn extremely high income (e.g., $900k/year), saving and investing alone won't make you financially free. Starting a business allows unlimited income potential.
Second book by Alex Hormozi. Teaches how to charge 10x or 100x more without changing your product by improving the offer. Introduces the value equation: dream outcome × probability / (time, effort, sacrifice).
Easier to build a business selling 10 things at $10,000 each than 10,000 things at $10 each. Beginners often mistakenly try to sell cheap products in volume.
Don't build a business based on your hobby (what you think is cool). Build around what people actually want and will pay for. Example: pivoting from public speaking for immigrants to helping accounting firms speed up client onboarding.
Third book by Russell Brunson. Explains the concept of sales funnels: guiding a customer from initial interest to purchase through upsells. Example: McDonald's makes profit on fries and drinks, not the burger.
Fourth book by Noah Kagan. Focuses on taking action rather than just reading. The first chapter is titled 'Just F***ing Start'. Encourages beginning before you're ready.
Reading books can give a feeling of progress but doesn't replace actually starting a business. Many people love learning but never take action.
The four books provide a step-by-step mental framework (Millionaire Fast Lane), offer creation ($100 Million Offers), sales funnels (.com Secrets), and action-taking (Million Dollar Weekend). Reading them is valuable, but the real key is to start before you feel ready.
What are the three lanes described in The Millionaire Fast Lane?
Sidewalk, slow lane, and fast lane.
00:54
According to the video, why does the slow lane no longer work well?
Because job stability, pension plans, and affordable housing are no longer guaranteed.
02:01
What is the 'fast lane' path to wealth?
Entrepreneurship: working for yourself with no cap on earnings.
02:25
What is the value equation from $100 Million Offers?
Dream outcome multiplied by probability, divided by time, effort, and sacrifice.
09:42
Why is it easier to sell 10 things at $10,000 than 10,000 things at $10?
Because you need fewer customers and less audience size; expensive products require less volume.
08:39
What common mistake do beginners make when starting a business?
Trying to sell a cheap product in high volume instead of a high-value product to a few clients.
09:04
What is a sales funnel according to .com Secrets?
A process that guides a potential customer from initial awareness to purchase through upsells and order bumps.
14:21
What is the McDonald's example of a sales funnel?
McDonald's makes little profit on the burger itself but profits from upsells like fries and drinks.
15:54
What is the main message of Million Dollar Weekend?
Take action immediately rather than over-preparing; start before you feel ready.
19:35
What should you base your business on according to the video?
What the market wants and will pay for, not your personal hobbies.
11:13
Fast Lane Redefines 'Get Rich Quick'
Challenges common perception by defining 'quick' as 5-10 years of focused entrepreneurial work, not overnight.
02:25The Value Equation
Provides a simple formula to understand why people pay more for certain offers, enabling higher pricing.
09:42Build for Market Demand, Not Passion
Critical distinction between a hobby and a business; success comes from solving real market problems.
11:13McDonald's Sales Funnel Example
Demonstrates a real-world example of how upsells generate profit, making the funnel concept tangible.
15:54Just Start
Emphasizes action over knowledge; reading alone doesn't create wealth.
19:35[00:01] books that we're going to talk about in this video, they will give you an incredible firmware update in your brain and will drastically help you on the road to achieving financial freedom. If you're new here, hello. My name is Ali.
[00:13] this is Freedom Fridays, the weeklyish series where we talk about strategies, achieve financial freedom, time freedom, and creative freedom so that you can and creative freedom so that you can ultimately live life on your own terms.
[00:27] So, the first book I would recommend you read is The Millionaire Fast Lane by MJ Demarco. And I apologize on MJ's behalf for the clickbait title, but it's done a book club episode where I summarized my learnings from this book a
[00:40] there and up there and all that kind of stuff. And it's quite like a dense book. is why I would recommend if you struggle to focus and like actually just read recommend getting the audio book on Audible and just listening to it. Now,
[00:54] what this book will do is that it will give you a firmware update in your mind around how to think about making money. MJ's whole argument here is that there money. There is the sidewalk, there's the slow lane, and then there's the fast
[01:08] where he argues that like, you know, the living paycheck to paycheck, basically you. If [music] you are the sort of person who watches this video, you're got a job, society thinks you're successful, you're probably very
[01:20] good-looking, you're probably not living paycheck to paycheck in poverty. if you my stuff. But where you might be is that you might be in the slow lane. Now MJ describes the slow lane path to building wealth as basically being the thing that
[01:34] your parents probably have taught you, which is go to a good university, get a good job, stay at that job, work your way up the corporate ladder. As you're ladder, you're going to be slowly getting raises and salaries. You save a
[01:47] cost down. And then you take the money that you've saved and you invest it into then theoretically you become rich when you are 65 and you've got osteoarthritis in both of your knees. Now this actually used to work. This was totally viable a
[02:01] few decades ago when um you could stay at the same company for decades and you could get raises reliably and you were able to support a family on a single paycheck and houses were affordable and you were staying put in one place for
[02:13] your entire life. But especially the way the world is going and especially if you want to become financially free before the age of 65, this slow lane approach of like, let me just save money and I'll invest it over time and hope that by
[02:25] financially free. That isn't really the path. What he argues for is the fast the millionaire fast lane, where you can get rich quick, but quick he defines as this is really nice. This is not like you're going to get rich overnight. It's
[02:40] years. It's that if you do sensible things, if you follow the fast lane building wealth, you could totally become financially free in the next, thing that separates the fast lane from the slow lane is that when you are in
[02:55] someone else. And when you are in the fast lane, you are working for yourself. recommended this book to a friend of mine, Sahel, who actually featured on the channel recently. So, he'll quit his job and within two years has now a
[03:07] business that's doing $1.3 million a year in annual recurring revenue because video editors save time in their video editing. And this was the first book that I recommended him him to read once he quit his job. And he messaged me
[03:19] after he read this book and he said, "Wo, I can never get a job ever again by the way, if you're watching this before Black Friday 2025, we have a YouTuber Academy. So, there'll be a link in the video description if you want to
[03:32] never really save your way to financial freedom. Unless you have like an making millions as an AI researcher or as like a sort of 10x software developer, then yes, you could probably save your way save and invest your way
[03:46] to financial freedom because you just got so much money coming in. But again, channel, you're probably you probably don't have a job that pays you $900,000 a year or $1.5 million a year. That that's probably not what's going on.
[03:59] money you can actually invest every year. If you if the only way you have to argument here is that if you start a business, then a business is basically where you work for yourself. And there is no cap on how much money you can earn
[04:14] wanted to and if you had the right skills, you could build a business that makes you 100,000 a year or 200,000 a year or 500,000 a year or a million a year. The only cap to that, the only ceiling is your own skills, which is
[04:27] super nice, right? Like there's no artificial constraint of like if you're say sorry you're only allowed to ask for a raise every 3 years or if you're with your manager and they're like well sorry we've got all these like bands and
[04:40] particular band and we can only raise your salary by inflation plus 2% every year. These are all artificial caps on the amount that you can earn. But if you are doing your own thing, if you have your own business, then those caps go
[04:52] skill set and the market that you choose. And so the whole book is about this because the way that school teaches us about money and about how to free. I mean firstly school doesn't really teach that stuff to us and and
[05:05] and if it does it very much hammers on the slow lane. It's like make sure you money. But actually this is not how people get rich. This is not how people the millionaire fast lane or by listening to the audio book for the
[05:17] guarantee you will have a massive firmware update in your mind. It would be like going from the original iOS uh on on the iPhone all the way up to like iPhone 17 or wherever we are now. Like there's a lot that's changed and so it
[05:30] installing new firmware in your brain about how money works. Honestly, I think literally everyone in the world because it will help you see how money actually more highly. The Millionaire Fast Lane by MJ Demarco. Now once you've started
[05:45] the ground, you're going to need a website. It's a place where potential clients can learn more about what you offer and ideally even buy from you. And with a website. And that is where the lovely people at Hostinger, who are very
[05:57] Hostinger is a one-stop shop solution to build your online presence. Whether launching a business or hosting web apps, Hostinger houses it all in one ecosystem. Hostinger also happens to be the hosts of all of our websites that we
[06:10] are actually personally using them for our stuff. Hostinger offers an AI site up and running easily. You just type in your brand name, describe what you do, and it'll instantly generate a beautiful, fully functional site with
[06:22] content writing and image generation and even email marketing. Now, what me and beginnerfriendly and how affordable it is, especially if you are building your you'll get is by signing up to their business plan for 48 months. And so, not
[06:36] only will that give you access to their entire suite of AI tools and e-commerce, So, if you've been putting off creating your website, head over to the link in with Hostinger and use the code Ali Abdal to get 10% off whatever plan you
[06:48] sponsoring the video and let's get back to it. book number one I would read in this order. The next book I would read is probably 100 million Offers by Alex Formoszi. Now, you've probably or maybe
[07:03] maybe you've seen Alex Forzi stuff here on YouTube. It is really very good. him and his wife Leila put out because it's it's amazing content if you want to free. Now, $100 million offers. Yes, you could listen to it on Audible, but it's
[07:16] actually a really easy read. It's got like big text. It's got lots of pictures and it's got lots of like photos of stuff to illustrate things. And the thing I really love about Alex's stuff is that he writes very very very simply.
[07:29] wordy. It can be hard to get through. I would recommend you push through and get give you a firmware update. But $100 million offers is such an such an easy book to read. It's so nice. You know, how to charge double, 10 times, or 100
[07:42] changing anything about what you sell. This will teach you the concept of an offer is something that beginners to the world of business find very difficult to understand. The offer is kind of like if you imagine a book, the book is the
[07:57] product, but the offer is sort of like the front cover, the title, the packaging around the product, right? like the offer is the thing that people that they are getting [music] to use that particular terminology. And so when
[08:11] you read $100 million offers, it starts to help you realize what are the different factors that are associated with people valuing different things. become financially free or whatever, like you probably like right now, if I
[08:25] for some kind of service, mostly people in my audience, people in our lifestyle people feel really scared about charging probably have not paid $10,000 for anything before maybe except like a car
[08:39] charged $10,000 for anything unless you already have your own business or you're B2B clients. But it's actually a lot easier to build a business when you are selling small numbers of very expensive things. [music] Like it's so much easier
[08:51] making a h 100 grand if you sell 10 things for $10,000 compared to if you sell 10,000 things for $10. And this is sort of like the price to people like [music] beginners to the world of business just
[09:04] easier to sell small numbers of an expensive thing than to sell large the single biggest mistake that I see beginners to the world of business make is trying to sell lots and lots of something really cheap. [music] Now, you
[09:16] really cheap, but you have to have a massive audience to be able to do it. chances are you're probably not that famous. You probably don't have hundreds on your social media or on your email list. So, it would probably be
[09:29] unfeasible for you to become financially free by the vehicle of selling large numbers of a cheap thing. Probably money is just an exchange of value, right? If they're willing to pay you for that value, that is how you that is how you
[09:42] book is that he defines what value actually means. And he defines it in terms of the value equation. So value equals dream outcome multiplied by divided by time, effort, and sacrifice required to achieve that particular
[09:55] really, really helpful equation. And don't worry if it sounds complicated. Read the book. He will explain every single thing in copious detail. And he examples of let's say you were selling weight loss as a coaching program or
[10:08] something. What would be the difference between weight loss packaged as a $10 $1,000 thing versus a $10,000 thing versus a $50,000 thing? You can actually sell the same general thing for way more money than you think if you just
[10:22] a good offer. Now, this is something that we take our students in the Lifest on figuring out their niche and figuring out their offer. Um, but to be honest, if you just read this book and just do every single thing he says and apply it,
[10:36] business, which will be the the vehicle that gets you to financial freedom, will be drastically better and drastically higher priced. And so, this book breaks you should absolutely read the book if you want to become financially free. The
[10:48] books. Uh, but also, there is a free version of like this book as an online acquisition.com. We'll put a link down below if you want to check it out. It's you really should just read the book. It's absolutely fantastic. And every
[11:00] literally take the physical copy and like actually just go through it like a to help us figure out what is the offer for the product that we are making. Now lot of our students in our lifestyle business academy do when you know when
[11:13] and we give them feedback on figuring out their niche and figuring figuring out their offer which is that they decide to base their business on what market wants. And that is called a hobby. It's called a hobby if you're
[11:26] you think is cool. Whereas, if you build a business around what people actually you money for it, it just massively lubricates the whole process. It starts playing on easy mode rather than you're playing on hard mode. So, for example,
[11:39] you know, came in and they were thinking of like, hey, you know, we really like to build a public speaking program that helps uh immigrants learn how to public speak. And we were like, okay, maybe there's a market for that because
[11:54] okay, like and but in in [music] the process of them going through our heavily based on the stuff in $100 million offers, they realized that actually they could add so much more value by switching [music] like pivoting
[12:07] niches and instead helping accounting firms drastically speed up their that sounds boring. It sounds boring to say, "Yeah, my business helps accounting clients." But that is a very powerful dream outcome that all the accounting
[12:22] weeks to onboard a new client. And they lose so much time and so much money in these guys in our program realized, wait a minute, we can just help them with that particular niche or whatever. And now they have a far more compelling
[12:35] [music] them to build that business compared to build the business where that they need an a very expensive coaching program to become good at public speaking or whatever. And so that's just like an example of how you
[12:48] like I reckon maybe I want to start a business selling hoodies and then you'll go through the process in $100 million offers and you'll actually realize that get the firmer update and you'll realize it's really really really hard to build
[13:01] probably do not want to do that as your first business, especially if you're a literally reading a bunch of these books can can literally save you years and years of your life that you would have wasted pursuing a very very difficult
[13:14] didn't take the time to spend a few hours listening to these on Audible for hours listening to these on Audible for basically zero money at all. is Secrets by Russell Brunson. It's quite a big book. You could just listen
[13:29] to it on audio book, but there's lots of pictures and lots of images and lots of diagrams. So, I really would recommend reading this as a legit book or on to read. Russell's a good writer. He gets it. And there's like lots of cute
[13:41] like little diagrams like for example this. And it just sort of helps you just really appreciate how businesses work and stuff. Now, com secrets, the subtitle is the underground playbook for growing your company online with sales
[13:55] [music] funnels. Now, the idea behind this is that Millionaire Fastlane does money actually work and what are the characteristics of the business that you want to start if you want to become financially free? Easy enough. $100
[14:07] million offers teaches you how to make an offer so good that people feel dumb thing that you are selling so that people want to buy it. Now, Alexi $100 million Money Models, which sort of covers similar ground as.com Secrets,
[14:21] there's more stuff in there, and it's sort of like OG. There's just a lot of value in understanding the concept of a funnel. So, what the hell is a funnel? A someone from like hearing about your stuff or not hearing about your stuff to
[14:34] they're like more interested [music] and then they click to buy the thing and an order bump. you know, you sell them a cheap thing initially and then maybe a which they're they feel really great about because they because the cheap
[14:48] thing is really good, they then upsell into like your expensive thing and your your money. So there's all these different ways that online businesses in building a lifestyle business, which is, you know, an online business based
[15:00] fulfillment, and financial freedom, if you want to build a lifestyle business, actually understanding how funnels work is incredibly helpful. Russell Brunson got his start selling I think a guide on how to make a potato gun. Like how to
[15:13] put like PVC pipes and stuff together in order to sort of get like a aerosol out potatoes as like a little bit of fun. And then they realized, wait a minute, we can make way more money if on the thank you page once once someone
[15:26] buys the potato gun guide, we also sell them be like, hey, you know, for an you the material directly. So you don't even need to go to B&H to buy the they realized that wait a minute you can actually make way more money by having
[15:41] multiple options for people to buy as part of this funnel where it takes Similarly, you know that one of the examples that I really like is how if they actually don't make any money on
[15:54] McDonald's drive-thru because of all of their costs and all of their marketing costs and everything like that. But you buy the burger and then they say, "Would you like fries with that?" They make all of their profit on the fries and on
[16:06] say, "Would you like fries with that?" and you just bought a burger, McDonald's would have gone out of business long ago. And so this kind of is a very basic ago. And so this kind of is a very basic example of a sales funnel where the the
[16:18] guiding the buyer from a step of like A to B to C to D. And some of those people That's fine. But some of them will want the burger and the fries. Some of them the drink. Some of them will want the burger, the fries, and the drink and up
[16:32] Some of them will want the Happy Meal on top of that. You know, that kind of it's yes it's yes it's yes it's yes it's yes it's yes it's yes it's yes it's long longer reading it but like you know you're trying to become financially free
[16:44] right like this is not an easy process it's fairly simple but it's not easy and looking at the pictures in the book and understanding you'll again you'll just have a massive firmware update and you'll start to appreciate like oh okay
[16:56] money and so when it comes to thinking of your own business idea and figuring products might be just [music] the fact that you've seen a bunch of different examples examples from a bunch of different niches just by reading a book.
[17:11] Russell Brunson has a whole like trilogy. The next one is Traffic Secrets, maybe the other way around. Both of those are also really, really, read every book Alex Mosie has come out with so far. $100 million offers, $100
[17:24] million leads, and $100 million money models. But if I really had to boil it down to just four books in this particular video, I would say.com And when I read this book, I was like, "Wo." Had I read this book when I first
[17:38] would have become a millionaire way sooner. I would have become financially years and years and years of like trying to learn things the hard way because I guy who's been doing it for way longer than I have and made way more money than
[17:51] everything to you in like a very very cheap book. So again, it's just the came before us, standing on the shoulders of giants. And if you're not going to do that, you're just signing up for a lot of years of like mistakes that
[18:04] you really could have avoided by just reading [music] a very simple book.
[18:16] fast lane and how this is like the first book that you want to read because this massive firmware update. Secondly, we talked about the value of $100 million understand what an offer is and how you can package and price stuff so that you
[18:30] you can for it. We have just talked about secrets by Russell Brunson and how he's going to give you a ton of examples around how to actually build a business these three books were quite theoretical. So, I'm now going to
[18:43] introduce you to Milliondoll Weekend by Noah Kagan. I also have a separate will be linked up there and down there. This is nice because this is very The other three books were quite theory
[18:56] those books and get the theoretical firmware update in your brain without ever having to actually take action. Which is amazing for people that I know who just love the idea of learning skills without actually taking action.
[19:09] That is where the rubber meets the road. That's where you have to face your paralysis, all of the emotional hurdles associated with becoming a business of you will still probably watch this and choose not to take action, which is
[19:22] if you don't take action. That's okay. Uh, but for the minority of people that read this book and actually do what Noah Kagan says and you take [music] action, this is how you can build a business. You can start a business in just a
[19:35] there's all, you know, the first chapter is literally called just [ __ ] start. Begin before you are ready. Now, the danger with recommending all these books progress, [music] right? When you read these books, and I
[19:50] do recommend you read them, you will get a FOMO update and you will start to feel as if you are making progress on route to starting your business. But until you actually start that business, [music] nothing is going to matter. And so, you
[20:02] kind of need to begin before you are ready. And that is his Noah's key point friend of mine. Stayed in his house for like a month when I was in Austin. Great consuming his content for way longer than I've actually known him as a as a
[20:14] podcast back in the day before I started my business, etc., etc. But yeah, he very nice, very readable, very simple book that really just encourages you to take action. It helps you figure out what is your business idea going to be,
[20:28] and kind of basically how to make money a weekend. So, if you would like to find check out this video over here, which is my book club episode where I break the
[20:40] so much for watching. Have a lovely day and I will see you hopefully in the next your lifestyle business. to get you to financial freedom.
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