Do you want to be rich or have the freedom to live like the rich? This is how you value your time and freedom over money. But don’t worry, you can still have both if you want. First, retirement plans generally suck unless your life’s goal is to work away the best years of your life, only to live the worst years in freedom eventually. That’s old, rich thinking. Who wants to wait that long to start living?
The “4-Hour Work Week” book is the best choice for you to live a paradise life. The book showed me that working and traveling the world simultaneously is possible, even if you’re in college. It’s written by Tim Ferris, one of the biggest mentors in the USA.
10 Tips From 4 Hour Work Week Book
This book is about escaping the 9 to 5, living anywhere, and joining the new rich. In our society, the plan is to get educated for the first 20 years of your life, work the next 40 years, and then retire and live the good life for the next 20 years. That’s the deferred life plan.
So you work hard right now for some later date to kick back and live once we have the money. In this book, Tim argues many things.
Let’s review the 10 best lessons and notes from this book to help you with business and passive income.
1. Three currencies
You have three stages of life right here. The three currencies of your life are time, energy, and money. At any stage in life, you probably only have two. When you’re young, you don’t have any money. But you’ve got a lot of time and a lot of energy.
You don’t have time when you’re an adult because you’re working. But you got a lot of energy and a lot of money. Then when you’re old, you have a lot of money and time, but not much energy. So how do you make the most out of all three stages? You start valuing currencies beyond money! This book opened my eyes to traveling, starting a business, and going for it. The main point of this book is valuing other currencies beyond money.
- Use your time, energy, and money at any life stage. Don’t wait for the future or old age.
- Enjoy your life and give more time for enjoyment. Celebrate every success and failure to make dynamic life.
2. The new rich
New rich is a topic Tim talks about a lot in this book that the new rich value things based on a freedom multiplier. These all start with “W.” The more “W” you control, the freer you are. The W means Wh questions: What? When? Whom? Where?
- What do you do? Where do you do it? When do you do it? To whom do you do it?
So the amount of ‘W’ you control means how free you are. If you control all of those, you don’t report to anybody. That’s what the New Rich wants. Again, this book doesn’t mean you have to quit your job. Or it doesn’t mean you have to start a business. That’s not what it’s saying. It explores alternative paths beyond the standard narrative of 20 years of education, 40 years working, and 20 years of retirement. So how do you join the New Rich?
- Ask yourself and find out what your desire.
- Find an alternative solution for creating a new profession that takes less time and gives freedom.
3. Four things
How do you live anywhere and escape the 9 to 5? The book goes over an acronym to do so. The acronym is DEAL. It stands for definition, elimination, automation, and liberation. If you do all of those, you can join the New Rich, escape the night of five and live anywhere.
Do you want to work anywhere? Define what you want by replacing the self-limiting beliefs, getting out of your head, and getting it on paper in your Journal. The second step is to eliminate. Also, we’ll get into this at another point. It’s saying there’s so much, only so much time we have.
If we try and do everything, it’s like eating a steak in one bite. We got to take little bite-sized chunks, avoid the unimportant, and eventually get to where we wanted to go. This elimination is eliminating unimportant things.
Suppose you’re complaining about not having enough time, but you check email 50 times daily or on social media for two hours. We realized that if we cut out the email and social media, there are five hours right there that we’ve reclaimed. So elimination, eliminating things, basically simplifying down your life.
Automation is learning to put cash flow on autopilot. So elimination frees up your time. Automation frees up your money not to get too into it. The book has many examples of making passive income, which is a hot topic. Some people say it’s a scam. Some people say it’s not possible. Others that are doing it say it’s the only way to become rich. So passive income is automation. There are three popular ways to automate income: Create a product, license a product, and resell a product.
Finally, ‘L’ is liberation. It focuses on freeing up your location. Here you do everything from working remotely or on an Internet-based business that you start location can also be traveling.
- Define your ideas, experiences, and goals. Keep them in notes or journals.
- Eliminate unnecessary work or things (Email checking, Social media).
- Make a money automation process like passive income ( Outsorching, blogging, YouTubing, etc.).
- Do liberal work like remote job or internet-based which help you to travel as well.
4. Life goal
The fourth-biggest point now that we’ve set the book up. Let’s start getting into the content of it. There are only so many you can sit before you want to work. We have that triangle of work, rest, and play. Then all those three need to be aligned with feeling like we’re doing a good job in life.
If we have all the time in the world, that’s not what we want. It is because that’s like having all the play in the world. You need a certain amount of work to keep you happy and need a certain amount of rest. You need a certain amount of play.
- Balance the triangle frame in life (work, play, rest).
- Don’t do anything excess and pressure yourself.
5. Hopeless retirements
Everyone thinks retirement is the best year of your life. But Tim argues the opposite. He says that retirements are bad for three reasons. First, it assumes you hate what you do if you want to retire if you think it will be great. What are you running from?
The second one is that the cost of living keeps increasing, and our retirement doesn’t unless it’s invested or making interest. I mean, inflation is what, like a year. So if you retire for 20 years, it might not seem like a lot at first, but our money will start shrinking over time.
The third one is that if you’re someone who can retire 20 years before you die or at 60 or 65 or whatever, chances are you had a good enough work ethic. You were self-motivated, self-starting that you will be so bored by week three when you get to retirement. You’re going to want to go back to work. So those are three cool points about why retirement is not necessarily the goal.
- If you think retirement is excellent, you are wrong because it stops your active life.
- Do whatever you want before retirement.
6. Success carries uncomfortable
A person’s success or failure is determined by the number of uncomfortable conversations they are willing to have. It’s talking about success in life is determined by how willing we are to get uncomfortable. Talking about uncomfortable conversations with your job, like negotiating a salary, is a plus or minus. It goes deeper with getting uncomfortable, getting out of your comfort zone.
Let’s look at them traveling to unfamiliar places. That’s uncomfortable. Living in a new location is uncomfortable. Starting a new job, dating, and being in a relationship all are uncomfortable.
But also look at what’s rewarding those four things. It can push you to become better. It forces you to grow. The more willing we are to step outside of the box and outside our comfort zone to try new experiences. The more we can develop and the more we can grow. So that’s why success or failure is determined by how willing we are to get uncomfortable.
- It’s very common that without pain and uncomfortable, success will not come.
- Your painful experience gives you a new idea, strategy, and formula to make bigger success.
7. Traveling on the cheap
The first thing is to get free flights with a travel credit card. Many credit cards can help you out when it comes to getting flights. Some of them are made for travel. It helps to reduce or free from extra fees.
If you stay at a hostel, you can find free pub crawls that you could go on. Often, they’ll provide free alcohol, at least at the beginning and sometimes during the whole crop. So that’s a good time to get free accommodation with trusted house sitters.
Sometimes you can stay in one place for a few days a week or even a month. You can find free accommodation with couch surfing. You can meet locals, stay with them, make new friends and stay somewhere for free student discounts. If you’re a student, you can use your card for student discounts on many tours, activities, and things you can do all around big cities worldwide.
I highly recommend trying and getting once in your life to look for budget transportation deals next year. They’re all over the world. But in Europe, they have a deal. You use these for the longer trips to save money that way. If you have a shorter trip, you don’t want to use one of your voucher codes because it might cost 10-year-olds 20 euros.
- Use a traveling credit card whose charge or fee is free.
- Meet locals and new friends so that you can know about rates and discounts.
- Find coupon codes, offer, and the best deal to save your money.
8. Smart work
Doing more is not always better. But it’s harder to practice that the consistency is better than the intensity. If you do an hour and a half long workouts, you’re less lazy than the person who goes in there for 20 minutes. You get this exercise stimulus in the first 20 minutes, which gives you arguably 80 percent of the benefit, depending on what you’re doing and how long and intensity.
If you did 20 minutes a day or 5 days a week, that’s way better than doing one or two workouts for an hour and a half, two days a week. So by doing less time, we think that that’s lazy. Consistency is the most important part.
A good example is an online business or YouTube channel. Many people think they must quit their job and start a business from scratch. That’s the burn the ships mentality that Fernando Cortez when he wanted to commit. He burned his ships and never looked back, which is why he won the battle.
You can do less, and you can do it more often. You’ll get a better result. Time’s the most valuable resource. That’s the thing that’s going to build it. Because it doesn’t matter how good your content is, you need patience, and you need time for it to catch on. That’s what you need. Then it grows exponentially, but you can’t force it. So this is a tangent. This is a rant on how less is not lazy.
- You don’t need to go on everything all in one hundred percent of the time.
- You can allow yourself some rest and sit back on it.
- Do smart work and have fun.
9. Live a proactive lifestyle
People think they know enough and don’t see the point in learning. But proactive people always keep learning and developing themselves, no matter their age and how busy they are. Learning and acquiring new skills will always be their priority. What is your mindset at work? React to people, do what they’re told and when it’s done, they wait for more orders.
While doing a job, proactive people always look for improvement and opportunity. That’s why they’ll be more likely promoted to higher positions. While those who wait for orders always get stuck in the same jobs for years. What is your attitude towards change? Proactive people strive for change. That means they’re moving forward, whereas reactive people settle into the same old routine, and change is associated with discomfort and unpleasant feelings.
In general, reactive people tend to deal with things as they come. These people are often called firefighters because everything is done at the last minute. Reactive people are often surprised by situations like the example plan today. The problem with reactive people is that they don’t plan things. They show up to life unprepared and deal with things as they come.
Proactive people’s behavior results from their conscious choice based on values. Reactive people’s behavior is a product of their conditions based on feelings. You want to become fitter and start practicing a healthy lifestyle. That means you’ll have to start exercising, eating healthily, and maintaining a different daily routine from the one you currently have. However, being proactive provides a clear advantage if you strive to improve any area of your life.
- Proactive people find opportunity and use it bravely, but reactive people fear it.
- Be a proactive person and improve your lifestyle, do creative and listen to your heart.
10. 80-20 principle
The best lesson from this book, drum roll, is the 80-20 principle and Parkinson’s law. So the 80-20 principles gotten talked about a lot over the last five years.
An economist noticed that 80 percent of his pods produced only 20 percent of the seeds in his garden. But when he looked at the other 20 percent of his pods, he noticed they were yielding 80 percent of his peas. If you look at a business, 20 percent of the customers give you 80 percent profit.
Parkinson’s law state tasks will expand the time you allow for them. If we give 12 hours, the task will take all 12 hours. So you can get way more done by shortening the deadlines and honing in on that 80-20, focusing on that 20 percent in a shorter deadline.
- About 80 percent of your results come from 20 percent of your efforts. So focus on the 20% efforts.
- Try to shorten the deadline of your work so that you can save some time.
What are you waiting for? What are you afraid of? It’s time to take action. So what do we take action toward the pursuit of happiness? Excitement is the more appropriate synonym that you should be trying to chase. It’s your passion you should be chasing. So figure out your purpose.
Life’s too short to dream small. You have to set a goal so big that it excites you. If you set small or easy goals, you will not be motivated to go after them. They’re not that interesting, and they won’t change your life. Once you figure that out, stick a timeline on it and get emotionally charged to achieving it.
The final step is to grow your income. You must create passive income streams whether you keep your day job. The end goal is not to be worldwide at a desk.
Learn more: 4-Hour Work Week Book Review With Summary
Download – 4-hour workweek tips pdf
Author: Tim Ferris
Average Rating: (4.5 /5)
Category: Self-Improvement, Leadership, Motivation, Business, Start-up, Lifestyle.
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