Rich Minx

The 4-Hour Work Week has arrived in my letterbox and I’m pretty excited, which just goes to show the power of blogger hype. Will it change my life? We’ll see. It’s broken down more or less into five sections so I’m going to work through it in four posts with the section summary and then my reaction at the bottom. I’ve already read the opening and first section, so here goes:

FAQ and My Story: Why You Need This Book

• Life is about having time and mobility, not $$.
• The goal is fun and profit.
• “What do you do?” is the most annoying question people can ask you, as if your job defines who you are.
• Ferriss gives a brief chronology of his life. It hasn’t been smooth sailing. He wants to share his lessons.

Step One: D is for Definition

1. Cautions and Comparisons

• You are part of the “living dead” if you simply work to have things you don’t really want.
• The Deferrers are working hard for future retirement, with the vision of not having to work in the future and having lots of money to enjoy; the New Rich believe it’s what you do that counts, not what you have, and that it’s better to have a more immediate purpose, know your dreams and live them, not plan for some vague future of inactivity.
• The first step is to replace assumptions about how life has to be lived.

2. Rules that Change the Rules

• Being different is better when it’s more effective and more fun.
• Alternating periods of work and rest are essential to survive.
• Focus on being productive instead of busy; make positive use of free time.
• Leverage your strengths, don’t focus on building up your weaknesses.
• Money alone is not the solution.
• It’s not how much you make per year, it’s how much you make per hour you work.

3. Dodging Bullets

• Doing something is less frightening than thinking about doing it.
• Define your fears. Nothing is generally as bad as you think.
• Compare where you are now with one year ago. Are you better or worse off? Look at people 15-20 years ahead of you on a similar path. Is that where you want to head?
• Don’t save living your life for the end.

4. System Reset

• Be unrealistic; there is much more competition for ‘realistic’ goals but most people back away from the ‘unrealistic’.
• Don’t pursue ‘happiness’, pursue ‘excitement’. What excites you?
• Most people don’t replace work with something else. If they are not working, they feel a void.
• Create some 6-12 months goals. Replace any ‘having‘ goals with ‘doing‘ goals. Calculate the TMI (Target Monthly Income) needed to achieve these goals.
• Don’t be afraid to ask people for advice.
• Brace yourself for Comfort Challenges in the next chapters.

Reactions to Step One:
Wow, there’s some inspiring stuff in here so far although I am still looking forward to the specifics. I think his point about many people deferring life and being afraid to pursue their dreams is often true, but then he is a young, middle-class, single-no-kids guy so he doesn’t have other people to worry about. I think the idea of thinking unrealistically is a good one; defining your dreams isn’t really original advice, but thinking in 6-12 month blocks helps make the idea more tangible.

I’m a bit nervous about these Comfort Challenges coming up, but will give them a go. The first one he suggested seemed dumb: stare at someone until they look away. I did it today on the subway and people thought I was either coming on to them or just a lunatic, I think.

Next: Step II: E is for Elimination

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