The 4 Hour Work Week | Timothy Ferriss

The 4 Hour Work Week by Timothy Ferriss book review by a long term investor who has reached financial independence, how does this classic stand up today?

The Good

  • The book is written in a way that allows the reader to see their dreams become a reality. By having the range of resources and actionable items at the end of each section he breaks it down into manageable steps.
  • The implementation of “fear setting” allows readers to become more comfortable with taking risks.
  • A heavy emphasis on learning through failure, he goes into mistakes he has made and shows how he has learned from them to become the person he is today.
  • He encourages readers to get out of their comfort zone through a series of challenges throughout the book. He believes that by setting “unrealistic goals” they are easier to achieve as there is less competition in this area.
  • Identify unimportant tasks and how to improve efficiency by either removing them, automating them or outsourcing them to overseas virtual assistants.
  • A focus on business as a way to create wealth and financial freedom rather than relying on a paycheck.
  • It truly is an inspiring book, I have interviewed many people over the years who have taken ideas from here to implement in their own lives

The Bad

  • Some of the content is dated, as this was first published in 2007, so there are many references that are not relevant and depending on the age of the reader may be completely unknown
  • As with many of the books in this space, it has a somewhat US-centric approach, I do believe for a lot of the world the methods he used could be unrealistic. However, for Australians, this would be achievable by many.
  • The business methods he mentioned are harder to implement today than they would have been when it was written.
  • Although the book has been updated since it was originally published I believe there is a potential to make this more frequent and include these updates throughout the book

Verdict: The 4-hour work week has been an inspiration for me and is a method I implement when running my online businesses. I would recommend this book to anyone who is interested in FI or simply wants more freedom in their life.

CaptainFI is not a Financial Advisor and the information below is factual review information, not financial advice. This website is reader-supported, which means we may be paid by advertising on the site, or when you visit links to partner or featured sites. For more information please read my Privacy PolicyTerms of Use, and Financial Disclaimer.

The 4 Hour Work Week by Tim Ferriss

The Four Hour Work Week | Tim Ferriss

Tim Ferris is a New York Times bestselling author of several books. It was his first book, however, The Four Hour Work Week, that caused his dramatic rise to fame and success as an author.

The four hour work week was a very eye opening read for me. I actually remember the ‘holy shit’ moment when I stopped being defensive and trying to disprove what he was saying and it was such an important revelation to me.

Whilst for me it was less about the specific example in the book (selling a supplement product), it was the key concepts that underpinned Ferriss’ success that I was interested in.

“Doing something unimportant well does not make it important”

Tim Ferriss

Overview

At its core, the 4-hour work week is about changing your thinking. Ferriss encourages us to forget outdated concepts of working a 9-5 grind and retiring at 65. Instead, he suggests you escape the 9-5 struggle and join the NR ‘new rich’ of entrepreneurs using their skills online and taking advantage of geographic arbitrage to maximise their lifestyle.

He challenges the conventional notion of what he calls a deferred life plan, asking readers to reconsider the idea of postponing their dreams until they hit retirement. He suggests that a more immediate pursuit of one’s passions and aspirations is a better way to live a rewarding and successful life.

“The NR aims to distribute “mini retirements” throughout life instead of hoarding the recovery and enjoyment for the fool’s gold of retirement”

Tim Ferriss

The book follows Tim’s story from escaping the rat race as an overworked business owner in the supplement space to the life he lives today, only working a few hours a week, travelling and pursuing his dreams, all while maintaining a monthly five figure income.

Each chapter finishes with a Question and Actions section where he provides resources, information and actionable steps for the reader to follow, resulting in a tangible roadmap to “the four hour work week” and a more fulfilling lifestyle.

Highlights

  • The book is written in a way that allows the reader to see their dreams become a reality. This is done by using real-world stories from his and other lives. By having the range of resources and actionable items at the end of each section he breaks it down into manageable steps to overcome common sticking points readers may come across .
  • The implementation of “fear setting” allows readers to become more comfortable with taking risks. By identifying the realistic “worst case” scenarios and their lasting impact (usually short term) and comparing it to the likely best case sensations from taking the risk (usually long term) readers can become aware of the asymmetric risk profile and remove fear from the decision making process.
  • With a heavy emphasis on learning through failure, he goes into mistakes he has made and shows how he has learned from them to become the person he is today.
  • He encourages readers to get out of their comfort zone through a series of challenges throughout the book. He believes that by setting “unrealistic goals” they are easier to achieve as there is less competition in this area. An example is how he shows how easy it is to start a correspondence with famous figures.
  • Highlights the often unnecessary or unimportant tasks and distractions that take up the majority of our time at work and how to improve time management by either removing them, automating them or outsourcing them to overseas virtual assistants. This is seen in Paretos principal where 80% of the result is due to 20% of the work.
  • A focus on businesses as a way to create wealth and financial freedom rather than relying on a paycheck. To truly achieve the 4 hours he mentions running your own business is the easiest way as it provides an extra level of freedom and achieve a mobile lifestyle.
Tim Ferriss
“A person’s success in life can usually be measured by the number of uncomfortable conversations he or she is willing to have.” Tim Ferris

Criticisms

  • Some of the content is dated, as this was first published in 2007 there are many references that are not relevant and depending on the age of the reader may be completely unknown. Information about infomercials and magazine advertisements can be less engaging today than it would have been in the mid 2000’s
  • As with many of the books in this space, it has a somewhat US-centric approach, I do believe for a lot of the world the methods he used could be unrealistic. However, for Australians, this would be achievable by many.
  • The business methods he mentioned are harder to implement today than they would have been when it was written. Markets such as dropshipping and affiliate marketing have now become more saturated with smaller margins available.
  • Although the book has been updated since it was originally published I believe there is a potential to make this more frequent and include these updates throughout the book as some companies and websites do not exist today or have been surpassed by competitors.

Other works

After the success of the 4 Hour Work Week, Tim went on to author another 4 best sellers:

  • The 4-Hour Body – Covering tips and actionable techniques for rapid fat loss, muscle gain and overall health improvements.
  • The 4-Hour Chef – Focusing on rapid skill learning through the medium of cooking
  • Tools of Titans – A collection of advice from the many successful people Tim has interviewed and met over the years
  • Tribe of Mentors – Similar to the Tools of Titans but with new people and the structure follow them answering a set of 11 questions to gain insight into them.
TOOLS OF TITANS
  • Ferriss, T. (Author)
  • English (Publication Language)
  • 604 Pages - 01/01/2016 (Publication Date) - Penguin Random House UK (Publisher)

On top of this, he maintains his blog and a highly successful podcast.

Conclusion

the 4 hour workweek is a timeless classic, not only aiding readers to undergo a mindset shift but also offering practical steps for them to follow as they move away from the 9-5 lifestyle. Despite some of the content now being somewhat aged the core concepts remain invaluable and timeless. The effect this book has had on society can be seen in the rise of remote work, geo arbitrage and digital nomads.

“Part scientist and part adventure hunter, Tim Ferriss has created a road map for an entirely new world”

Charles L Brock

Having personally implemented some of the strategies from the book I view it as a highly useful tool for those on the path to FI, improve efficiency or to design a new lifestyle with more freedom. I would highly recommend this book and hope it inspires you the way it did me.

For those interested in the 4-Hour Work Week, check it out on Amazon here or listen to it through Audible

Financial Disclaimer

Financial Disclaimer: CaptainFI is NOT a financial advisor and does not hold an AFSL. This is not financial Advice!

I am not a financial adviser and I do not hold an Australian Financial Services Licence (AFSL). In this article, I am giving you factual, balanced information without judgment or bias, to the best of my ability. I am not giving you any general or personal financial advice about what you should do with your investments. Just because I do something with my money (or use a particular service or platform) doesn’t mean it is automatically appropriate for your personal circumstances. I do not recommend nor endorse any financial or investment product, and my usage or opinion of any product should not be interpreted as an endorsement, advertisement, or intent to influence.

I can only provide factual information based on my journey to Financial Independence, and that is provided for general informational and entertainment purposes only. I make no guarantee about the performance of any product, and although I strive to keep the information accurate and updated as it changes, I make no guarantee about the correctness of reviews or information posted.

Remember – you always need to do your own independent research and due diligence before making any transaction. This includes reading and analysing Product Disclosure Statements, Terms and Conditions, Service Arrangement and Fee Structures. It is always smart to compare products and discuss them, but ultimately you need to take responsibility for your use of any particular product and make sure it suits your personal circumstances. If you need help and would like to obtain personal financial advice about which investment options or platforms may be right for you, please talk to a licensed financial adviser or AFSL holder – you can take the first steps to find a financial advisor by reading this interview, or by visiting the ASIC financial adviser register and searching in your area.

For more information please read my Privacy PolicyTerms of Use, and Financial Disclaimer.

Moomoo banner
sharesightbanner
eBusiness institute banner thin
sharesightbanner

Related posts

Leave a Reply

Your email address will not be published. Required fields are marked *

sharesight