Trainee Trader

How would you like to work only four hours a week whilst maintaining or even increasing your income? I have to say I would and that is what lead me to purchasing this book. I had heard about this book but wasn’t convinced. So when I saw the book on special at my local supermarket I thought I would give it a read.

The book is written by Timothy Ferriss and he certainly practices what he preaches. He is another individual that is impossible to label. According to his biography he has been a cage fighter in Japan, holds a Guinness world record in tango, national Chinese kickboxing champion and actor in a TV series in China to name but a few of his achievements. Did I mention he is only 29 years old? You can see some of his media appearances and interviews on his website The Four Hour Work Week. The book is around 300 pages in length and is a straightforward read. From a trading perspective chapter six The Low-Information diet: Cultivating Selective Ignorance is a must read.

Contents of the Book

First and Foremost

• FAQ – Doubters Read This
• My Story and Why You Need This Book
• Chronology of Pathology

Step One: D is for Definition

• Cautions and Comparisons: How to Burn $1,000,000 a Night.
• Rules that Change the Rules: Everything Popular is Wrong.
• Dodging Bullets: Fear – Setting and Escaping Paralysis.
• System Reset: Being Unreasonable and Unambiguous.

Step Two: E is for Elimination

• The End of Time Management: Illusions and Italians.
• The Low-Information diet: Cultivating Selective Ignorance.
• Interrupting Interruption and the Art of Refusal.

Step Three: A is for Automation

• Outsourcing Life: Off-loading the Rest and a Taste of Geoarbitrage.
• Income Autopilot I: Finding the Muse.
• Income Autopilot II: Testing the Muse.
• Income Autopilot III: MBA – Management by Absence.

Step Four: L is for Liberation

• Disappearing Act: How to Escape the Office.
• Beyond Repair: Killing your job.
• Mini-Retirements: Embracing the Mobile Lifestyle.
• Filling the void: Adding Life after Subtracting Work.
• The Top 13 New Rich Mistakes.

The Last Chapter: An E-mail you Need to Read.

The early chapters of the book introduce us to some of Timothy’s experiences and give clear and concise definitions that are relayed upon in later chapters of the book. It is very challenging accepting some of the concepts that are being presented as they go against everything that is ingrained in you from childhood. The use of real world examples in the form of case studies help the reader see that thinking unconventionally can actually yield a better outcome than conventional thinking.

” If You Always Do What You Have Always Done….
You’ll Always Get What You Always Got!”

As with most books just reading is not enough, you need to take action. At the end of most chapters there are questions and actions, these questions and actions help reinforce the content presented in each chapter. Some of the actions steps will require very little effort while others are a much more complicated. The pace of the book slows towards the end and the action steps become much more in depth.

Bottom Line

The Four Hour Work week is a book that will definitely challenge your thinking about the concept of a JOB aka Just Over Broke. The final chapters present a cookie cutter type recipe for creating and setting up your own automated business. This book does not only just talk about The Four Hour Work Week as an abstract concept it gives you the tools and knowledge to implement it. It really comes down to your commitment to implementing these concepts and changing the way you view things. That being said in order to carry out some of the required tasks you will need to have a firm grasp of Internet and software based technologies.  The concept of Mini Retirements is also very appealing, why wait till your sixty five to retire?

Overall this is a very solid book and I will be implementing a vast number of concepts presented. It really is aimed at the under thirty’s and people who are fairly tech savvy. Some of the methods and shortcuts that are used in the book are things that I wouldn’t personally feel comfortable doing however it comes down to personal preference ethics etc. I think it is a little hypocritical to advocate for a four hour work week and then outsource tasks needed to achieve this to someone else. I found this to be an enjoyable read and it has really opened my mind and challenged my beliefs about work and to a certain extent life.

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