Timothy Ferriss, author of the 4 Hour Work Week, is a self described “serial entrepreneur and ultravagabond” who lives a lifestyle that most of us could only dream about — until now. His provocative book has been a #1 Wall Street Journal Best Seller, a #1 NY Times Best Seller, and a #1 BusinessWeek Bestseller.
Ferriss presents a step-by-step guide to his free-wheeling lifestyle, allowing us to follow in his footsteps and realize our own lifelong dreams. Albert Pope, derivatives specialist at UBS World Headquarters, has called him “Indiana Jones for the digital age”.
His basic premise is that we need to replace many, if not most, of our current assumptions and apply what he calls the Rules of the New Rich.
We need to replace these assumptions because they limit us and prevent us from enjoying life. In particular, we need to replace assumptions that waste our time and force us to live in a particular location.
According to Ferriss, “The New Rich (NR) are those who abandon the deferred-life plan and create luxury lifestyles in the present using the currency of the New Rich: time and mobility. This is an art and a science we will refer to as Lifestyle Design (LD).”
His model provides us with a roadmap for realizing our own lifelong dreams. He shows us how to:
· Live like a millionaire
· Free time and automate income
· Outsource your life to overseas virtual assistants for $ 5/hour
· Travel the world without quitting your job
· Eliminate 50% of your work in 48 hours
· Trade a long-haul career for short work bursts and mini-retirements
He uses the DEAL acronym to describe his model, where:
· D = Definition
· E = Elimination
· A = Automation
· L = Liberation
According to Ferris, the Rules of the New Rich include the following:
· Retirement is Worst-Case Scenario Insurance
· Interest and Energy are Cyclical
· Less is Not Laziness
· The Timing Is Never Right
· Ask for Forgiveness, Not Permission
· Emphasize Strengths, Don’t Fix Weaknesses
· Things in Excess Become the Opposite
· Money Alone is Not the Solution
· Relative Income is More Important than Absolute Income
· Distress is Bad, Eustress is Good
He encourages us to use “Dreamlining” to design our own luxurious lifestyles. His recommendations rely heavily upon elimination, simplification, and outsourcing to virtual assistants.
Another key component of the lifestyle design process is automation; i.e., building a system to replace ourselves as bottlenecks. But he cautions that we should never automate something that could be eliminated, and we should never delegate something that could be automated or simplified.
This book shows how to recognize and seize opportunities that others miss. Along the way, you’ll come to realize that having options, i.e., the ability to choose, is the real power in life.
He shows us that we can realize our lifelong dreams much easier and cheaper than we had previously thought; however, the necessary ingredients are courage and self-confidence to take a leap of faith.
I highly recommend this book – as well as Ferris’ website and blog.
I’ll be recommending this book to everyone I know. Both the book, and the website, include extensive resource lists.
Personally, I found this book very easy to read – and very compelling. I plan to implement many of his ideas into my own life and am presently automating my income using the Infinite Income Plan.
Copyright 2009 Sue White
Sue White, MBA, PMP, is a Project Manager Professional, Author, and Internet Marketer.
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Image from page 118 of “Illustrated catalogue and general description of improved machine tools for working metal” (1899)
Title: Illustrated catalogue and general description of improved machine tools for working metal
Year: 1899 (1890s)
Authors: Sellers, William, & co. [from old catalog]
Subjects: Machine-tools Machinery
Publisher: Philadephia, Levytype company
Contributing Library: The Library of Congress
Digitizing Sponsor: The Library of Congress
Click here to view book online to see this illustration in context in a browseable online version of this book.
Text Appearing Before Image:
-chains, screw-swivels and hooksto attach to the axle between the wheels. By means of this very simple and notcumbersome device, the wheels on their axles are swung up to the centre by therotation of the two face-plates through say one-quarter of a revolution. Wheelsrolled up to the back of the lathe are thus lifted in with great ease, and they areset down again on the floor in the same manner. The Face-Plate Slide-Rest. Is bolted to a slot in one of the four plates, and can be used to turn thecrank-pin boss and wheel hub. The Splining Attachment. This consists of a large opening nut attached to the under surface of one ofthe saddles, so as to connect it to the driving shaft which is threaded for that pur-pose. The rotation of the shaft causes the saddle to move a planing tool backand forth, so as to cut a keyseat. Of course this is only important when there areno other tools in the shop better adapted for the work. Vm. Sellers & Co., Incorporated, Philadelphia, Pa. Plate No. 92.
Text Appearing After Image:
66 WHEEL-TURNING LATHE. Two compound slide rests, self-acting feeds in all directions ; will swing60 over the saddles. Height of centres over bed, 33 >2. Heads set over tobring cutting strains within bed. Maximum distance between face plates, 8 ft.6. Largest lift of cone-pulley, 29 for 4^^ belt. Complete with countershaft,rock-shaft for feed motion, wrenches and ratchet levers. Fast and loose pulleyson countershaft, 24 diameter, 7 face, 50 revolutions per minute. We are pre-pared to furnish the following extras: Patent Jioistino attacluiicnt for liftinoaheels in ?rst; ivhcel quartering attadnnent to he earried on one of tlie tool rests :li lib facing rest to be carried on face plate; splining atlaelnnent: electric motordrive ivith countershaft, rock-shaft and motor Q7x.xx>tA by the machine. IJ4 Wm. Sellers & Co., Incorporated, Philadelphia, Pa. Plate No. 93.
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By Internet Archive Book Images on 1899-01-01 00:00:00