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The 4-Hour Workweek: Escape 9-5, Live Anywhere, and Join the New Rich, by Timothy Ferriss
Ebook The 4-Hour Workweek: Escape 9-5, Live Anywhere, and Join the New Rich, by Timothy Ferriss
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About the Author
TIMOTHY FERRISS is a serial entrepreneur, #1 New York Times bestselling author, and angel investor/advisor (Facebook, Twitter, Evernote, Uber, and 20+ more). Best known for his rapid-learning techniques, Tim's books -- The 4-Hour Workweek, The 4-Hour Body, and The 4-Hour Chef -- have been published in 30+ languages. The 4-Hour Workweek has spent seven years on The New York Times bestseller list. Tim has been featured by more than 100 media outlets including The New York Times, The Economist, TIME, Forbes, Fortune, Outside, NBC, CBS, ABC, Fox and CNN. He has guest lectured in entrepreneurship at Princeton University since 2003. His popular blog www.fourhourblog.com has 1M+ monthly readers, and his Twitter account @tferriss was selected by Mashable as one of only five “Must-Follow” accounts for entrepreneurs. Tim’s primetime TV show, The Tim Ferriss Experiment (www.upwave.com/tfx), teaches rapid-learning techniques for helping viewers to produce seemingly superhuman results in minimum time.
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Cautions and ComparisonsHow to Burn $1,000,000 a nightThese individuals have riches just as we say that we “have a fever,” when really the fever has us.—seneca (4 b.c.–a.d. 65)I also have in mind that seemingly wealthy, but most terribly impoverished class of all, who have accumulated dross, but know not how to use it, or get rid of it, and thus have forged their own golden or silver fetters.—henry david thoreau (1817–1862)1:00 a.m. cst, 30,000 feet over las vegasHis friends, drunk to the point of speaking in tongues, were asleep. It was just the two of us now in first-class. He extended his hand to introduce himself, and an enormous—Looney Tunes enormous—diamond ring appeared from the ether as his fingers crossed under my reading light.Mark was a legitimate magnate. He had, at different times, run practically all the gas stations, convenience stores, and gambling in South Carolina. He confessed with a half smile that, in an average trip to Sin City, he and his fellow weekend warriors might lose an average of $500,000 to $1,000,000—each. Nice.He sat up in his seat as the conversation drifted to my travels, but I was more interested in his astounding record of printing money.“So, of all your businesses, which did you like the most?”The answer took less than a second of thought.“None of them.”He explained that he had spent more than 30 years with people he didn’t like to buy things he didn’t need. Life had become a succession of trophy wives—he was on lucky number three—expensive cars, and other empty bragging rights. Mark was one of the living dead.This is exactly where we don’t want to end up.Apples and Oranges: A ComparisonSo, what makes the difference? What separates the New Rich, characterized by options, from the Deferrers (D), those who save it all for the end only to find that life has passed them by?It begins at the beginning. The New Rich can be separated from the crowd based on their goals, which reflect very distinct priorities and life philosophies.Note how subtle differences in wording completely change the necessary actions for fulfilling what at a glance appear to be similar goals. These are not limited to business owners. Even the first, as I will show later, applies to employees.D:To work for yourself.NR:To have others work for you.D:To work when you want to.NR:To prevent work for work’s sake, and to do the minimum necessary for maximum effect (“minimum effective load”).D:To retire early or young.NR:To distribute recovery periods and adventures (mini-retirements) throughout life on a regular basis and recognize that inactivity is not the goal. Doing that which excites you is.D:To buy all the things you want to have.NR:To do all the things you want to do, and be all the things you want to be. If this includes some tools and gadgets, so be it, but they are either means to an end or bonuses, not the focus.D:To be the boss instead of the employee; to be in charge.NR:To be neither the boss nor the employee, but the owner. To own the trains and have someone else ensure they run on time.D:To make a ton of money.NR:To make a ton of money with specific reasons and defined dreams to chase, timelines and steps included. What are you working for?D:To have more.NR:To have more quality and less clutter. To have huge financial reserves but recognize that most material wants are justifications for spending time on the things that don’t really matter, including buying things and preparing to buy things. You spent two weeks negotiating your new Infiniti with the dealership and got $10,000 off? That’s great. Does your life have a purpose? Are you contributing anything useful to this world, or just shuffling papers, banging on a keyboard, and coming home to a drunken existence on the weekends?D:To reach the big pay-off, whether IPO, acquisition, retirement, or other pot of gold.NR:To think big but ensure payday comes every day: cash flow first, big payday second.D:To have freedom from doing that which you dislike.NR:To have freedom from doing that which you dislike, but also the freedom and resolve to pursue your dreams without reverting to work for work’s sake (W4W). After years of repetitive work, you will often need to dig hard to find your passions, redefine your dreams, and revive hobbies that you let atrophy to near extinction. The goal is not to simply eliminate the bad, which does nothing more than leave you with a vacuum, but to pursue and experience the best in the world.Getting Off the Wrong TrainThe first principle is that you must not fool yourself, and you are the easiest person to fool.—richard p. feynman, Nobel Prize–winning physicistEnough is enough. Lemmings no more. The blind quest for cash is a fool’s errand.I’ve chartered private planes over the Andes, enjoyed many of the best wines in the world in between world-class ski runs, and lived like a king, lounging by the infinity pool of a private villa. Here’s the little secret I rarely tell: It all cost less than rent in the United States. If you can free your time and location, your money is automatically worth 3–10 times as much.This has nothing to do with currency rates. Being financially rich and having the ability to live like a millionaire are fundamentally two very different things.Money is multiplied in practical value depending on the number of W’s you control in your life: what you do, when you do it, where you do it, and with whom you do it. I call this the “freedom multiplier.”Using this as our criterion, the 80-hour-per-week, $500,000-per-year investment banker is less “powerful” than the employed NR who works 1?4 the hours for $40,000, but has complete freedom of when, where, and how to live. The former’s $500,000 may be worth less than $40,000 and the latter’s $40,000 worth more than $500,000 when we run the numbers and look at the lifestyle output of their money.Options—the ability to choose—is real power. This book is all about how to see and create those options with the least ef- fort and cost. It just so happens, paradoxically, that you can make more money—a lot more money—by doing half of what you are doing now.So, Who Are the NR?qThe employee who rearranges his schedule and negotiates a remote work agreement to achieve 90% of the results in one-tenth of the time, which frees him to practice cross-country skiing and take road trips with his family two weeks per month.qThe business owner who eliminates the least profitable customers and projects, outsources all operations entirely, and travels the world collecting rare documents, all while working remotely on a website to showcase her own illustration work.qThe student who elects to risk it all—which is nothing—to establish an online video rental service that delivers $5,000 per month in income from a small niche of HDTV aficionados, a two-hour-per-week side project that allows him to work full-time as an animal rights lobbyist.The options are limitless, but each path begins with the same first step: replacing assumptions.To join the movement, you will need to learn a new lexicon and recalibrate direction using a compass for an unusual world. From inverting responsibility to jettisoning the entire concept of “success,” we need to change the rules.''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''New Players for a New Game: Global and Unrestricted'Turin,'Italy'Civilization had too many rules for me, so I did my best to rewrite them.—Bill CosbyAs he rotated 360 degrees through the air, the deafening noise turned to silence. Dale Begg-Smith executed the backflip perfectly—skis crossed in an X over his head—and landed in the record books as he slid across the finish.It was February 16, 2006, and he was now a mogul-skiing gold medalist at the Turin Winter Olympics. Unlike other full-time athletes, he will never have to return to a dead-end job after his moment of glory, nor will he look back at this day as the climax of his only passion. After all, he was only 21 years old and drove a black Lamborghini.Born a Canadian and something of a late bloomer, Dale found his calling, an Internet-based IT company, at the age of 13. Fortunately, he had a more-experienced mentor and partner to guide him: his 15-year-old brother, Jason. Created to fund their dreams of standing atop the Olympic podium, it would, only two years later, become the third-largest company of its kind in the world.While Dale’s teammates were hitting the slopes for extra sessions, he was often buying sake for clients in Tokyo. In a world of “work harder, not smarter,” it came to pass that his coaches felt he was spending too much time on his business and not enough time in training, despite his results.Rather than choose between his business or his dream, Dale chose to move laterally with both, from either/or to both/and. He wasn’t spending too much time on his business; he and his brother were spending too much time with Canucks.In 2002, they moved to the ski capital of the world, Australia, where the team was smaller, more flexible, and coached by a legend. Three short years later, he received citizenship, went head-to-head against former teammates, and became the third “Aussie” in history to win winter gold.In the land of wallabies and big surf, Dale has since gone postal. Literally. Right next to the Elvis Presley commemorative edition, you can bu...
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Product details
Hardcover: 320 pages
Publisher: Harmony; 1st, First Edition edition (April 24, 2007)
Language: English
ISBN-10: 0307353133
ISBN-13: 978-0307353139
Product Dimensions:
5.8 x 1.1 x 8.5 inches
Shipping Weight: 1 pounds (View shipping rates and policies)
Average Customer Review:
4.4 out of 5 stars
5,316 customer reviews
Amazon Best Sellers Rank:
#343,098 in Books (See Top 100 in Books)
The author attempts to promote his working lifestyle for the reader broken down in four steps. I have to start by sayings this book is written at a very low reading level and a lot of needless filler.The author breaks it down in four steps D E A and LD is for definition and is probably the only part of the book of any substance. If you’re under 23, naive, and never stand up for self you might get something out of it. It’s mostly work mindset a lot of people have developed over a year or so in the work world.E is elimination which is his time management section. Honestly there is some good advice , however,there are way better books on the topic. He advocates the low information diet which basically being willfully ignorant.A is for automation. In this section he advocates for first automating/ outsourcing as much in your life as you can to save time and money.But the main focus is setting up a business online that sells things of little value very overpriced and attempting to automate that. Having worked in online marketing, I can tell you the information here is outdated, vague, and not very thorough. If you want to set up a business online I would recommend reading a different book. He also advocates calling yourself an expert and teaching courses on topics you have no authority in. Ultimately, this is where the book falls apart as this is his central way to live the four hour work week, which if you take a look at his own life he isn’t living that way.For L is for liberation and I took his low information diet and stopped reading.Conclusion: this book is for naive, weak, dummies who hate their jobs and will take any terrible advice to give them hope. Ultimately this book is like his own online business which sold a product of little value he wasn’t an expert in. Which is what this book is.
I had heard a lot of people rave about this book before I finally picked it up and decided to read it for myself. I'm glad that I read it, but I don't think it was quite as life-changing for me as it was for some of my friends. Don't get me wrong, Ferriss makes some excellent points and he's got some really great tips and tricks in here, I'm just not sure how universal they really are.First of all, when I picked up the book, I didn't expect that he was literally working only four hours a week. I thought he was just talking about ways to spend less time working, but that "The 4-Hour" just sounded good (since he now has a whole line of books with titles that start that way). Nope. Turns out he really only worked four hours every week for a few years. I hate him. Now, with his series of books and everything, that's not true so much, so I hate him less. Now his job is much more similar to what I actually want to do.As I said, Ferriss has some great ways of eliminating clutter and busywork, including things you don't even think of as busywork. I've already started implementing some of these tips at work, and they've come in pretty handy so far. I keep meaning to get rid of a bunch of my physical clutter, but my laziness keeps getting in the way of that. I'll get around to it in the next few weeks.I also appreciated his philosophy of taking mini-retirements throughout life, rather than one long retirement at the end of life. I never did understand the point of retirement, so Ferriss's plan sounds much more appealing to me. As he put it, retirement should be nothing more than a fail-safe in case something happens and you are physically (or mentally) incapable of working. My thoughts exactly.My main problem with his philosophy is that it really only works if you have a product that you are not actually making, but that you can sell. For example, even if I were to quit my day job and write all day every day, I would still be working a lot. Granted, that would make my job a whole lot more portable, but I could never get away with only working four hours per week (at least not until after I sell that bestselling novel, which is such a realistic plan!) In order to do it his way, I would need to have something that is already produced, or that someone else is making (clothes, dietary supplement, etc.) where all I have to do is collect the money that comes in from those sales.Of course, that's a lot harder than it sounds. His ways of eliminating the useless from his life are really quite impressive, and not to be underestimated, but I still wonder if someone in their twenties, who is just starting out in life, can really make his plan work? Some of his success stories include people negotiating working remotely, because they have built up value in their company. Someone who has only been working at their current job for a year or two does not have the kind of leverage necessary to do that.Additionally, he talks about the trick to getting out of your job so you can go have that great once-in-a-lifetime adventure. He mentions considering the worst-case scenario and the fact that worst-case is not necessarily all that bad. One of his points he brings up is that, if he loses his job, he can get another one fairly easily. Well, great for him, but the original book was written before the job market collapsed, followed by this lovely "jobless recovery". I was recently unemployed for eight months and it was not fun. I, too, thought I could get another job within a few months, but that did not turn out to be the case. So, if I go spend all my money on a mini-retirement now, and then come back only to find that I can't get a job for another year, I'll be screwed. Yes, even that worst-case scenario isn't that bad. I could always move back in with my parents, but I'd really rather not. I love them, but they have enough to deal with right now, and the last thing I want to do is burden the people around me because I decided to go globe-trotting for a few months. Timothy Ferriss told me it would be fine!
An excerpt from the book:"Practice the art of nonfinishing. This is another one that took me a long time to learn. Starting something doesn’t automatically justify finishing it. If you are reading an article that sucks, put it down and don’t pick it back up. If you go to a movie and it’s worse than Matrix III, get the hell out of there before more neurons die. If you’re full after half a plate of ribs, put the damn fork down and don’t order dessert. More is not better, and stopping something is often 10 times better than finishing it. Develop the habit of nonfinishing that which is boring or unproductive if a boss isn’t demanding it."This book has no redeeming qualities. So, I've decided to put it down, and I won't be picking it back up. For this one bit of advice, I thank the author.Maybe some people get something out of it. For me, it was a huge waste of my precious time. I like the concept of lifestyle design. I think it is a valid concept. However, his egocentric advice is useless to someone in a different stage of life. This book is NOT one size fits all.I only hope I can get my money back.
I am honestly not entirely sure what to say about this book. The message is stop working harder, start working smarter. As a USA Today bestselling author with multiple number 1's under my belt, I wasn't completely sure how the advice in this book would apply to me, but actually, I came up with several ways to implement this without quitting writing (to move into sales) or hiring a ghostwriter. I was uncertain how to take my personal development to the next level before I bought this book. I'm now working more efficiently. I spent the last 2 months on a mini-retirement traveling the world with my husband, and my book sales are up on new titles. I am spending FAR less time on the little things and overall I feel like I have a positive plan going forward, which is exactly what I needed. If I ever meet Tim Ferriss in person I'd like to thank him.
Several chapters in, Ferriss recommends that you not be hesitant to walk out of a bad movie or to put down a book you are not enjoying - - so I did.
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