Sunday, July 08, 2007

Book Review: The 4-Hour Workweek

I took a break from the heavy finance books to read Timothy Ferriss's The 4-Hour Workweek. The book has had excellent reviews from many respectable critics, so I thought I would give it a go.

Overview:
The book basically lays out a strategy to create automated income and free yourself from the dull life created from our 9 to 5 society. The basis of Ferriss's writing focuses on using DEAL (definition, elimination, automation, and liberation) to formally join the NR (new rich). Each chapter offers ways the reader can shift from a steady work-life, toward a life full of travel, leisure, and mini-retirements.

Personal Takeaways:
Honestly, the book is full of information. I am entirely convinced that all readers will find something of value embedded within Ferris's chapters. For me, the income via automation and comparison of travel costs vs. traditional costs were pretty compelling.

Automated income is very powerful and does not necessarily involve linking millions of databases together. Ferris details how to find your niche, use it to create a source of income, then automate it. The automation chapters explain that you can hire virtual assistants to do anything from responding to customer inquiries to sending your significant other flowers. Auto-response emails and a couple of outsourced resources can create a business with no maintenance. Amazing!

Ferris also busted the expensive overseas travel myth. In relation to the expense you are already paying now in the states, you could very well vacation as royalty practically anywhere else in the world.

Recommendation:
I recommend this book to everyone. It is informative and proactive (offering an array of activities to help achieve inner happiness) and will help readers uncover what is truly important in life. It is a quick read and will having you laughing more often than not.
And make this post finance related, consider borrowing this book from a friend or checking it out from your local library.

3 comments:

Steve said...

A couple things:

I noticed you tore into CHCG for a couple more G's....

Blog is definitely top-notch, you should look into promoting it more. Regardless, I am assuming you will reach at least PR 1 when the new ranks come out. Congratulations.

rmacguidwin said...

Thanks Steve. I am looking into promoting it a bit more and I will probably again ask you for guidance.

I got an email from Scotty today. He says Hawaii is a blast but he misses the cool weather!

Brian Restuccia said...

Congratulations on your blog and completing some of your goals. I can tell if you've put a lot of time into it, and your venture with Brian. You're doing a lot of great things.

On the subject of the book review. Along this same vein is Rich Dad Poor Dad. It preaches the merits (and tax benefits) of passive income. Unfortunately the author only recognizes and expounds on the real estate market, but that seems like a tough go of things right now. I think up until recently it was too easy to make money that way, so now you will have to be more inventive, but the ideas are still solid.