10
Jan

A Whole New Way Of Looking At Wealth

I was listening to the Jerry Doyle Show yesterday and he was talking about rapper MC Hammer and the incredibly lavish lifestyle he lived, that is of course before he went broke. During the height of Hammer’s career in the late 80’s and early 90’s he spent money at an astonishing rate buying things like a fleet of cars, race horses, a $2 million marble floor, helicopters, swimming pools and on and on. He even had an entourage of around 300 people that were mostly paid to the tune of $500,000 per month.

So what is it about money that causes people to go completely nuts like this? The way you think about money is the key. If you think about money as a commodity that you can get stuff with, you are more likely to end up like MC Hammer if you come into a lot of it. However, if you look at money as what you can do with it, you are more likely to be part of what Timothy Ferriss calls the new rich in his book The 4 Hour Work Week.

The 4 Hour Work WeekThe book is all about how, instead of just acquiring more stuff, you can actually live life to a much fuller degree and have the time and money to do it. Timothy has done everything from danced in Tango competitions in Buenos Aries, won national titles in Chinese kick boxing, learned new languages from private tutors in 6 months, traveled to and lived in some of the most exotic locations on Earth and basically lived life on his own terms.

He describes the new rich as those individuals who would rather not live the deferred life plan of working 40, 60 or 80 hours a week for 40 years, saving for retirement and hoping to spend a few years doing what they really want before they die. The new rich live life today and participate in the things that enrich their lives and others lives as well, and they do it on a lot less money than you would think, mainly becaue they aren’t bound to getting more and more stuff.

Timothy’s thinking and his methods of doing things are right on target to get you closer to a lifestyle of complete freedom. However, prepare to be shocked when he shows you that you are the real culprit that has kept you from being free. He then shows you how to completely eliminate the things in your life that aren’t serving to bring you to the ultimate goal of freedom. Most of us waste huge amounts of time, me included, on things that truly serve no purpose.

Tim rightly points out that it is way more important to be effective than it is to be effecient and then devotes two entire chapters on how to eliminate all of the crap in your life. And he’s talking about everything here, from the news (how much of a waste of time is that?), to voicemail, to email, to useless meetings and more.

The book then goes on to show you how he created what he calls muses that basically put your earnings on autopilot so you can go out and play or take a trip around the world. Then he goes into how to travel anywhere in the world and have mini-retirements for 6 months that cost about as much as most people spend on a 2 week vacation or what he calls binge travel.

Timothy has included tons of resources and web sites, many that I didn’t know about, that cover important topics such as finding products to resell, licensing your ideas, manufacturing products and he also includes incredible travel sites that show you where to live for pennies on the dollar, how to get discount airfare in the range of 60% to 80% off and how to completely disappear if that’s what you want to do. You won’t believe all this could be packed into a 293 page book.

Read The 4 Hour Work Week and be prepared to be seriously challenged on what is important to you, how you want to live life, and how you think about money and wealth. This book could rock your world.

Alan

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8 Responses to “A Whole New Way Of Looking At Wealth”

  1. Great post about a great book.

  2. I couldn’t agree more: a lot of people have a wrong approach when it comes to dealing with money. Enjoying life is always a must, that is why I always encourage people to make money by doing something they are passionate about. Your personal productivity will reach new heights and you will end up loving every minute of it.

    Alan Johnson

  3. I purchased this book a few months back… an excellent read. Very nice post!

  4. Clint, Thanks for your comment. I keep referring back to the book over and over. It is one of my favorites.

  5. Nice, I think I’ll check it out…

  6. Alan,
    I have read this book couple of months ago. It is definitely worth reading if you want to make a living online. I first heard of this book and author when ProBlogger interviewed Tim Ferriss about the 4-Hour Work Week. Thanks for sharing your thoughts on this.

    Thomson

  7. I believe just like time feriss money is the ultimate leverager that lets you live life to the fullest but you have to put money in the best places to leveage your time and you have to spend less than you can make in a year for that particular year .I have a finace blog too at http://livelymoney.blogspot.com which shows people how to get money to work for them and showing to make the most productive investments so they can use thier time to do other things

  8. […] I have won a copy of “The 4 hour workweek” by Timothy Ferriss and I cannot wait to get it an start reading! I won the blook in a contest run by Alan over at http://www.AffiliateConfession.com. It was a pretty simple contest, all I had to do was subscribe to his RSS feed and post a comment in the contest’s blog entry. I had already been subscribed to Alan’s RSS for a while now, but he was nice enough to allow his existing readers to enter the contest by just posting a comment. I have heard many great things about this book, and was planning on picking it up eventually. Lucky for me, I dont have to go buy it!  Alan also did a great review of the book that you should check out. […]

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