This is one of the most entertaining and unconventional financial life-style books I have ever read. Not only will it open your mind to a world opportunities that few people even know exist, but it will challenge the status-quo of how you live your life.
“The 4-Hour Workweek” is a guide to creating passive income so you can live your life doing the things you want. Sound familiar? Much along the same vain as “Rich Dad Poor Dad” by Robert Kiyosaki, Ferriss dismisses the notion of working 9 to 5 and saving towards retirement so that you can finally retire someday when you’re too old to care. What does he suggest? Retire now! Quit your job and join “the New Rich”! Rather than work, Ferriss shares dozens of personal stories about his travels of the world, learning exotic talents, and meeting fascinating people. So how does he do it?
The goal is to create a company that runs without any interaction from you. But this is not your typical brick-and-mortar, +30 employees. No, Ferriss shows you how to design a company where everything happens remotely; either over the Internet or by phone. He terms this “the New Rich”. His architecture includes everything from creating an e-Commerce site (such as a private website, eBay store, or even an 800 number), call centers in India, inexpensive manufacturers in China, payment processing centers in the US, and many other useful resources. The result is a system where everything happens automatically and the owner (you) reap all the benefits. The key to the entire operation is that the reader must come up with the product or service that you wish to market.
Unlike “Rich Dad, Poor Dad”, Ferriss gives very specific, chapter-by-chapter steps and directions for reducing your involvement at work (or quitting), setting up your e-Commerce, and marketing it. Many of his recommendations come from his own successful experiences with selling vitamin supplements.
Although the goal is financial freedom, Ferriss does not advocate this approach to become rich or become a millionaire. Instead, the goal is to replace your income so that you will be free of work and able to do the things you want and go the places you want to go. As part of this strategy, Ferriss also provides the readers with many suggestions for alternative lifestyles such as living abroad, down-sizing your material processions, and living off as little money as possible.
Some people will find this book to be complete nonsense. But if you objectively take in his advice, it could inspire your entrepreneurial tendencies. If nothing else, read this book for the entertainment of seeing how “the New Rich” are making it!