The 4-Hour Work Week: Expanded and Updated by Tim Ferriss is
the definitive guide to living the life of our dreams. This book smashes the
traditional social paradigm about getting the job upon graduation and then
holding it until retirement.
Instead, he suggests freeing up two resources: Time and
Money. By having these two elements to work with, one can spread their
retirements over their lifetime leading to a higher level of happiness and
One of the concepts Ferriss talks about is the difference
between absolute and relative income. Absolute income is the job that pays x
amount of dollars per year. This single variable is how most people measure
wealth. Relative income on the other hand takes two variables into
consideration: time and money. If a person makes $100,000 per year but works 80
hours per week, then he is not necessarily wealthier than somebody who works 40
hours a week and makes $50,000.
The way he suggests we do this is through a concept called
Lifestyle Design where an individual works the minimum hour of time to create
the highest monetary impact. By determining the dollar value of an ideal dream
such travelling, one can work backwards and figure out how many hours they need
to work until they earn the money to do it. Ideally, the goal would be to work
the least amount of hours for the highest return.
The 4-hour workweek is a breath of fresh air as far as books
on business go. As a graduate from the BCIT School of Business, this book goes
against almost everything that I learned in school. Instead of aiming to get a
job after university, Ferriss describes a system of generating steams of
passive income through a variety of entrepreneurial ventures.
From product creation to selling to your first customer,
Ferriss goes into great depth about the steps needed to create your first
venture and free yourself from the rate race.
Some of the great
• Outsourcing tasks to overseas virtual assistants
• Practical Time Management skills
• Creating profitable businesses which require very little management
• How to quit your job
• How to eliminate 80% of useless work
As a non-fiction book, The 4-Hour Work Week: Expanded and
Updated is a fairly quick read because its so engaging; it keeps your attention
with all of the case studies and real life examples.
When this book originally came out, it was packed with great
information and resources. The new expanded edition brings even more real life
case studies of people who have read the book and tried out some of the
Not just for the budding entrepreneur, this book is a great
resource for anybody looking to simply improve their productivity or get a peek
into the lives of the new rich. I highly recommend this book for anybody
looking for an alternative to the traditional life path.