The 4-hour Workweek-5 min summary

THE FOUR HOUR WORK WEEK is written by TIM FERRISS

In this book, Tim explains how anyone can leave their 9-5 jobs and can live their life on their own terms.

Tim introduced the concept of DEAL i.e. how with the help of this concept anyone can attain THE NEW RICH where one can have time and freedom. He explains and gives a lot of ideas to leave the rat race(slave-save-retire).

THE CONCEPT OF DEAL-

D-Definition(Define things)

1. To work for yourself.

2. To work when you want.

3. To retire early.

4. To buy all the things you want.

5. To be the boss instead of an employee.

6. To make a ton of money.

7. To have more.

8. To reach the big pay-off.

9. Interest and Energy are cyclic.

10. Stop being laming.

E-Elimination(rules that change the rule)

1. Everything popular is wrong. Beat the game, not play the game.

2. Less is not laziness.

3. The timing is never right.

4. ask for forgiveness, not permission.

5. Emphasize strengths, don't fix the weakness.

6.Things in excess become their opposite.

7. Money alone is not the solution.

8. Relative income is more important than absolute income.

9. Distress is bad, Eustress is good.

10. Eliminate things you don't want. Focus on what you want.

A-Automation(Time management skills)

1. The goals should be unrealistic to be effective.

 NOW ITS  YOUR TURN TO THINK BIG.

2.  EFFECTIVENESS over EFFICIENT(leave the work you hate doing BE EFFECTIVE)

3. Follow the 80/20 principle/Pareto principle-80% consequences come from 20%cause

4. Use PARKINSONS LAW- shorten the work to the important tasks and give a time limit.

5. low information diet.

6. Start an automation system-decrease your availability.

L-Libration

1.Taking mini-retirements.

2. Overcoming excuses not to travel.

3. Build ASSETS.

4. In this book Tim provides a lot of links so one can really get benefit from this book.

 

TIM also explains how some people can misunderstand these principles and again become part of the rat race. But the goal should be beating the rat race. Sometimes it is difficult to use all these concepts.

it may cause frustration but remember this is all part of the plan. Once you beat the rat race you will find peace and all your dreams will come true.

REVIEW- If this book is on your shelf then don't think twice just grab it and start reading. You all should read this book. If I have to conclude the book in one line then this book is the pathway to create a business that will give you the lifestyle of your dreams.