by Alexander Cain
As the economy continues its slow recovery, it’s safe to say that many of the formerly-unemployed are happy to be working again but it’s also safe to assume that job satisfaction is only a temporary feeling. Many employees are anxiously awaiting retirement when they can enjoy their lives again. The book, “The 4 Hour Workweek,” by Timothy Ferriss provides an alternative to the ‘work until retirement’ attitude many people have adopted.
Similarly to the books “Millionaire Next Door” and “Rich Dad, Poor Dad,” the author encourages the idea of automated income, in other words creating self-sustaining businesses that generate income and don’t require constant supervision. “4-Hour Workweek” goes a step beyond the other books by encouraging mini-retirements, which are several month or year vacations to share in new experiences and places. While starting a business might not be for everyone, the book outlines simple steps to improve the efficiency of work and how to spend more time working from home for those who wish to keep their jobs. The goal of the book is to reduce the hours spent working in order to experience life to the fullest.
If you were able to retire today, what would be the first things you would do? For a lot of people, their answers would be spending their retirement engaged in certain experiences- picking up a new activity or hobby, traveling to a different land, or even spending more time with family. As the book describes, the large majority of people’s wants and desires are more focused towards the experiential: sharing new and different experiences rather than simply making or spending money.
This is a key characteristic of the “new rich”, a class of affluent people who create luxury lifestyles by abandoning the deferred life plan of working until retirement. The new rich are able to enjoy their lives today because they generate automatic income and use the money to attain their dreams.
There is a clever way the author instills the knowledge of the new rich into his readers using the acronym D-E-A-L. For those who are working, he encourages you to implement the steps as D-E-L-A, in order to free up more time away from work. *Read L for the author’s suggestion to get more time working remotely!