Dano Manion's Blog

I’m a pretty big fan of Tim Ferriss, for those who don’t know, he’s a successful author, a motivator, and a wise investor. I read his 4-Hour Work Week (okay, listened) a few years ago and really enjoyed the book, along with what he said about “Lifestyle Design for the New Rich”, great stuff. In the recent Business Insanity Talk Radio podcast hosted by Barry Moltz , Tim Ferriss summarized the 4 steps pretty well and I thought it would be nice to share my notes on them. I was originally going to keep this in my evernote, but thought it would be helpful to share with others. 

1. Definition
   1. Quantifying exactly what your lifestyle costs on a monthly basis 
   2. Ideal Lifestyle what you want in retirement 
   3. Cost it out and look for the target montly income to reach that 
2. Elimination
   1. Remove as much static as possible
   2. Remove as many seperate decisions 
   3. Replace them with something automated 
3. Automation
   1. IE - Putting all finances on auto-pay
   2. Getting rid of paper 
4. Liberation 
   1. Taking advanage of a lower workload and getting out 
   2. Exploring life 
   3. Avoid the Void 

This is a pretty good framework to live by, I’d love to hear your interpretation and notes in the comments. 

Audio Snippet I sampled from the #103 Tim Ferriss, Angel Investor & the 4 Hour Work Week Podcast, taken from 20 minutes in. 

  
Download now or listen on posterous

iTunes_20110115_1111.mp3 (470 KB)

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