The 4-Hour Workweek
By Timothy Ferriss
ISBN : 978-0-307-35313-9
The author, who now runs a great blog about lifestyle design is a bit like a seagull. He does not gently introduce his concepts he jumps in front of you and squawks in your face.
The subtitle of the book “Escape 9-5, Live Anywhere and Join the New Rich” sets the scene.
The basic essence of Tim’s message is that we really need to rethink our current lifestyle paradigms. The idea of 45 years chained to the corporate desk and a Blackberry is perhaps not what it is cracked up to be.
He correctly points out that many people fall into the trap of deferring enjoyment until some distant “retirement” and makes the point that for some people retirement will not be what they thought it would be. I know myself from the experiences of friends and parents of friends that the idea of deferral does not look that great in retrospect if you suffer very significant [even terminal] illnesses soon after or even long before retirement.
Tim’s message is basically a call to action. He suggest that we really need to review all aspects of our current life and think about what we really want. He suggest that rather than trying to accumulate a pile of assets (so that we can live off of the passive income from those assets) we should instead figure out what it would cause us to have the experiences that we want to have.
Then figure out how to find a low time consuming method to generate that income. He suggest the creation of a “muse business”, in particular a web-based business that can be easily administered from anywhere in the world and is structured so that all of the business processes are automated or outsourced. As for the title of the book he suggest that if we are clever it is quite feasible to create one or more businesses that can generate an income while only demanding 4 hours per week of our attention.
So someone who earned say USD$35,000 a year from a website that consumed little time and lived a mobile “rock-star” lifestyle somewhere in say Asia would be “New Rich”.
They would be “richer” than someone who had material wealth but no spare time and no fulfillment.
The book covers many self help ideas and personal efficiency tips. And he boils it down to the following formula he calls
D is for definition.