Today’s big idea comes from the revolutionary book ‘The 4-Hour Workweek’ by Timothy Ferriss. He argues that there are two types of people – Deferrers and the New Rich.
Deferrers work tirelessly, planning for a postponed future. They put off their dreams until retirement. On the other hand, the New Rich are those who abandon the deferred-life plan and create fulfilling and luxurious lifestyles in the present.
They accomplish this by using lifestyle design and by following some simple techniques to reduce their workload and generate money in order to live a life most people can only dream of.
The following rules are crucial to keep in mind as you start your journey towards becoming one of the ‘New-Rich’.
- Stop considering Retirement as the ultimate end-goal after a long and potentially unfulfilling working life. Instead, consider it as worst-case-scenario Insurance in case your lifestyle design fails you.
- Plan for mini-retirements throughout life in order to sustain your energy.
- Remember that sometimes less is truly more.
- Embrace the fact that you will never get the timing completely right. ‘Someday’ is a disease that will take your dreams to the grave with you. Just do it and correct course along the way
- Ask for forgiveness instead of permission
- Emphasize Strengths, don’t fix weakness
- Things in excess Become Their opposite. The New Rich are not interested in creating excess amounts of idle time but simply obtaining freedom to do things they want to do instead of things they feel obligated to do.
- Money alone isn’t the solution. Stop using money as the scapegoat for not making changes to your life.
- Relative income is more important than absolute income. In the eyes of the New Rich making 50,000 Dollars per Year by working 4 hours a week makes you a richer person overall than Making 100,000 dollars per Year by working 80 hours a week!
- Push your limits and take healthy risks!
As always, I highly recommend reading the book, but should you feel short on time you can watch our animated summary by clicking the link below.
I hope you will enjoy the video. That it will inspire you, help you Grow your Mind and Motivate You to be The Best You!
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This is our Bouillon Cube summary of the book. As always we highly recommend reading the whole book. You can buy it by clicking this link.