How 4 hours per week can improve your life

Climbing the corporate ladder, building a hugely successful business. Investing and getting returns like Warren Buffet.

Why do we actually do it?

Answer! money more money. But let's take a step back, What does money create?

It creates time, mobility and options

The new rich are a group of people who have realized that living like a millionaire doesn't require that one is a millionaire

They have also realized that you can live like a millionaire life without working your ass off until age 65 building a fortune 500 company or consuming millions of annual reports

In the 4-hour workweek book which is written by the entrepreneur Tim Ferriss, we shall learn how the new rich managed to do this at the end of this post. You'll be able to fill in these blanks

Take away number one:

The step-by-step process of joining the new rich

Create time mobility and options without having an abundance of money. Sounds like a great deal. Am I right? That's why the strategy to get there is abbreviated as DEAL

Life is negotiable: Just because everyone else follows the nine-to-five Dogma doesn't mean that you have to do it too. I hate it the but what if everyone else does so two-argument? Don't worry. Everyone won't be willing to do this, but hopefully, you will

Follow this and you'll be ready to join the new rich in no time

D stands for definition

First and foremost we must redefine the goal of the game that we've been fooled to play for so long Money in itself is not the end goal, relative income trumps absolute income once certain essentials are met more on this in takeaway number 2

E is for elimination

Being busy 24/7 is trumpeted as ambitious but Tim Ferriss disagrees with being busy. All the time is lazy. lazy thinking. To become truly productive which is essential to have a 4-hour workweek. You must eliminate unimportant activities which we'll discuss in takeaway number three

A is for automation

outsource outsource.No more wasting your time with repetitive tasks. If you estimate your hourly to be say 20 dollars. It probably makes a lot of sense to have someone else do it for seven dollars an hour. Morn this intake way number four

L is for liberation

Skiing is better in Italy, Surfing is better in Costa Rica, diving is better in Australia. Why tie yourself down to a single location? In takeaway number five, I'll discuss some of the tips that Tim Ferriss gives for the final piece of the puzzle mobility

Takeaway number two relative income trumps absolute income

Ok, so D is for definition and it's all about redefining how we think about money

Who is richer in your opinion?

The investment banker with an annual salary of $500,000 who works 80 hours a week

or

Be the e-commerce entrepreneur with his whole business on autopilot. Who earns? $40,000 per year with a 4-hour workweek Tim Ferriss talks about something he calls a freedom multiplier consisting of four variables.

Depending on how many of them that you can control the practical value of your money multiply. They are:

What you do when you do it?

where you do it and

whom you do it with

An investment banker is typically very restricted in these regards, which is why the e-commerce entrepreneur may be richer when we consider what money can do for this person. And here we shall introduce a very important concept. Relative income Trumps absolute income once you have a cash flow that's enough to support your desired lifestyle.

Sure, the investment banker beats the e-commerce entrepreneur in absolute income, He earns four hundred and sixty thousand dollars more per year.

But is this a bit excessive?

the e-commerce entrepreneur beats the investment banker once the time is introduced to the equation as his relative income is $200 per hour versus hundred and twenty dollars for the banker.

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