Imagine if you only had to work 4 hours per week. The rest of the week, you could learn to surf in Australia, practice your German in Berlin, or search for the best BBQ in the South.
That is precisely the point of Tim Ferriss’ book, “The 4-Hour Workweek: Escape 9-5, Live Anywhere, and Join the New Rich.” Initially published in 2009, The 4-Hour Workweek seeks to provide a life plan for those who want to live their dreams in the present, as opposed to waiting for the deferred rewards of retirement. The following contains the lessons I learned from The 4-Hour Workweek and how you can get started living your dream life today.
Who Are the New Rich?
Why choose between making money now or enjoying your life later? You don’t have to. Ferriss describes individuals who have managed to maximize an enjoyable lifestyle while still raising profits as the New Rich (or NR).
The NR use the currency of time and mobility to build their ideal lifestyle, hence the ability to spend your week caravanning around Iceland while still making money. The NR seek to maximize both time and profit, and that you don’t have to sacrifice one to gain the other.
On the opposite end of the NR, according to Ferriss, is the Deferrers, who scrimp and save their whole lives only to see that life has already passed them by. These are the individuals who hold a 9-5 job for decades, putting everything away for a rainy day, and once they are old enough to retire, they aren’t young enough to enjoy the lifestyle they once dreamed of. That isn’t to say you should splurge all your money in the present. Instead, Ferriss advocates for the idea of “mini-retirements” throughout life as an opportunity to refresh yourself. Yes, max our your 401(k)s and IRAs if possible, but don’t treat retirement as the end-all-be-all. You are more productive and energized when you have “mini-retirements” built-in over the years. “Someday” is a disease that will take your dreams to the grave with you.
Ferriss’ idea of 9-5 drudgery can best be summed up by this idea: “Don’t follow a model that doesn’t work. If the recipe sucks, it doesn’t matter how good a cook you are.” By learning how to maximize your time effectively, as well as negotiating mobility in your work, you can find your way into the ranks of the New Rich.
Busyness Shouldn’t Be Rewarded
How many of us have worn “busyness” as a badge of honor?
“I can’t go out tonight. I have 30 things on my to-do list.”
“My boss counts on me. I need to be late at the office every night.”
Yes. there are going to be times where you are busy, but that shouldn’t be your ultimate state of being. “Busy” should not be your only answer to “How have you been?”
Personal sacrifice is rewarded in our culture. Working in nonprofits, I have seen the idealization of that martyrdom. The best employee is one who stays late every night, answers emails even on their day off, is always on call, and never asks for a pay raise. They understand real sacrifice.
What our culture doesn’t reward is personal productivity. The person who gets everything done and heads home early. The person who shuts off their work phone at 5 PM because they are no longer are on the companies time.
Being busy is not the same thing as being productive. Know the difference. I completed a Time Audit previously to track my productiveness, and I recommend it for everyone.
Ask for Forgiveness, Not Permission
This piece of advice works better in some lines of work than others, but the idea is simple: if the potential damage is reversible or minimal, don’t ask permission. It is better to ask forgiveness than give someone a chance to say no to you. It is a lot harder for someone to retroactively say no once you are already moving than to put a stop to you before you get started.
When it comes to making decisions that impact your future, you shouldn’t allow yourself to be confined by the social structure of what is “realistic” or what you “should” be doing. Holding yourself to these ideals will never get you to the life you want to lead. If pragmatism led people to live their ideal life, everyone would be living their dreams. Instead, Ferriss asks, “What would happen if I did the opposite of the people around me? What will I sacrifice if I continue on this track for 5, 10, or 20 years?”
Define Your Fear
“Most people will choose unhappiness over uncertainty.”
That certainly is the case for most people I know. How many people have stopped doing their side-hustle because they weren’t sure they could make a living at it? How many of us have chosen not to take a shot at something we are passionate about because we couldn’t see where it would lead?
One dominant concept laid out in the 4 Hour Work Week is the idea that Conquering Fear = Defining Fear.
To address your nightmare scenario, you need to define it.
Say your nightmare scenario is losing your job. What would that look like? What logical steps would you take to keep moving forward? How could you make rent in the meantime? What would a progression of the first month look like?
When you break down your worst nightmare into a specific, manageable course of action, suddenly that worst-case scenario isn’t so scary. You would make do and make the necessary changes that you need to survive. So ask the question, “What things am I postponing because of fear?” Think through everything that could go wrong, plan out how you would address those challenges, and make the leap. Fear will keep you trapped in unhappiness because you are too scared to jump into the unknown. Don’t fall for it.
Building Connections
How many times have you received an email from someone making a pitch? Whether it is engaging in social selling, purchasing their product, or asking to “take you out to coffee just to pick your brain,” we have all received some variation of this email. Now, asking to take someone out to coffee can be a great ask, but it shouldn’t come at the front of a conversation.
Instead, Ferriss advocates trying to find the personal emails of the people who inspire you / your dream contacts (so an assistant doesn’t screen you out). Instead of pitching them, write a 2-3 paragraph email expressing your familiarity and interest in their work, and asking a “simple-to-answer but thought-provoking question in that email related to their work or life philosophies.” You aren’t asking for help as part of this first contact. Instead, you are seeking to start a dialogue with them so they open your emails in the future. According to Ferriss, the ask should only come after 3-4 genuine engagements.
Time Management isn’t Worthwhile (At Least Not How You Think)
Ferriss’ premise centers on time management, specifically the 80-20 rule. According to this concept, also known as Pareto’s Law, 80% of the outputs result from 20% of the inputs. Therefore:
20% of sources are causing 80% of my problems and unhappiness
20% of sources are resulting in 80% of my desired outcomes and happiness?
Now to put this in another context, have you ever had a client that took up way too much of your time? Do they monopolize your time, which keeps you from effectively working on other projects? Chances are, this client isn’t your primary source of income, but they require far more effort than they provide in returns. That is the 80-20 rule. Similarly, chances are when you are working, you aren’t putting in 100% effort 100% of the time. It is 20% of genuinely dedicated work time that generates the majority of the results.
Time management isn’t in itself worthwhile. You shouldn’t be trying to cram more things into your day. You should be working to increase your efficiency. Think back to college when the professors said, “You can’t wait until the last minute to do this project and still succeed.” Now, how many of you STILL waited till the last minute? I know I did. And yet I STILL GOT IT DONE.
That concept is known as Parkinson’s Law, which states, “a task will swell in (perceived) importance and complexity in relation to the time allotted for its completion. It is the magic of the imminent deadline. If I give you 24 hours to complete a project, the time pressure forces you to focus on execution, and you have no choice but to do only the bare essentials.”
Ferriss regularly asks himself the following questions to make sure he is following the 80-20 rule and Parkinson’s Law
Am I productive or just active? (This is similar to one of the things I talked about in my Lessons from Therapy post, being frantic is not the same as being productive)
Am I inventing things to do to avoid the important?
If you had a heart attack and had to work two hours per day, what would you do?
What are the top 3 activities that I use to fill the time to feel as though I’ve been productive?
Who are the 20% of people who produce 80% of your enjoyment and propel you forward, and which 20% cause 80% of your depression, anger, and second-guessing?
Learn to ask, “If this is the only thing I accomplish today, will I be satisfied with my day?”
Ferriss warns against “task creep”—doing more to feel productive while accomplishing less. Instead, you should be using block-scheduling to batch necessary tasks which don’t yield high results. Set aside a specific time to do those tasks and ONLY do them during that time. One way to better understand task creep and your time wasters is by using RescueTime to track your time on apps and sites. It is free for individuals to use, allows you to set time goals, and at the end of the week, you will have a report delivered to you by email. Understanding how you are using your time ineffectively is the first step to cutting down on the number of hours you need to spend working each week.
Empowerment Failure
This one’s for the managers: Micromanaging an employee consumes more of BOTH of your time. When you micromanage, not only do you put a hold on their productivity and your productivity, but also on the creative output of the team. This comes down to empowerment failure. We always like to see ourselves as invaluable. However, if you suddenly got sick and had to take the next 6 months away from the office, chances are work would continue without you. Sure, it may look different than your ideal vision. However, life adapts. By empowering your employees, you not only cut down on the amount of time that you spend micromanaging, but employees feel more ownership over their output and the organization as a whole.
Life Outside of Work
So, now that you have cut down on the number of work hours during your week, how do you keep the good vibes flowing? Ferriss offers two ideas:
Slow Meals: Too often, we take our meals on the go. We eat them in our car, at our desk, and while doing something else. Even when we are with other people, often we are glued to our screens. However, people who have mealtime with friends and loved ones regularly report having higher levels of happiness. So at least once per week, try and set aside 2-3 hours to spend time with people who make you smile. You will surely notice your happiness go up accordingly.
21 Day No Complaint Experiment: This experiment, made famous by Will Bowen, encourages participants to try and go 21 days straight without complaining. Wear a bracelet or rubber band on your wrist, and every time you complain, switch the brand to your other wrist. Try and go 21 days straight without complaining. Every time you have to change wrists, the count of days drops to 0. Not an easy task! However, by drawing attention to your negative thoughts and dwelling on past events, you can help train your brain to appreciate life as it happens.
Additional Thoughts
Overall, I found Ferriss’ “The 4-Hour Workweek” to be an interesting read, though not immediately applicable to 20 somethings with little disposable income. Ferriss has freed up much of his time by working with assistants and outsourcing his work. Besides, as a more senior staff member, Ferriss is more easily able to negotiate freedom of time and location than someone who is just starting. It is nearly unthinkable for a 20-something worker in a mid-level job to be able to negotiate only checking their email twice a week. However, the concepts that Ferriss’ brings out in regards to the New Rich lifestyle, time management, and choice minimalism are applicable at any age. While I don’t imagine many young professionals will be able to downgrade their work to 4 hours per week, The 4-Hour Workweek” provides excellent tips for adjustments to make in your life to reap the rewards of mini-retirements throughout your life. For those interested in maximizing your time and seeking a lifestyle outside the American norm, I definitely recommend picking up this book.