We are taught from the very beginning to fall in line and do what is expected. The essence of our learned behaivors is to conform. The net - we follow the rules and we become mediocre.
Well, if we embrace these teachings, what happens? People work for companies. They work hard, live day to day, and retire. And the results? 98% of all Americans fail to achieve financial independence.
So why conform if it produces these results? According to Tim Ferriss -
"Retirement is worst-case-scenario insurance. Retirement planning is like insurance. It should be viewed as nothing more than a hedge against the absolute worst-case scenario: in this case, becoming physically incapable of working and needing a reservoir of capital to survive.
Retirement as a goal or final redemption is flawed for at least three solid reasons:
a. It is predicated on the assumption that you dislike what you are doing during the most physically capable years of your life. This is a non-starter - nothing can justify that sacrifice.
b. Most people will never be able to retire and maintain even a hotdogs-for-dinner standard of living. Even one million is chump change in a world where traditional retirement could span 30 years and inflation lowers your purchasing power 2- 4 % per year. The math doesn't work. The golden years become lower-middle-class life revisited. That's a bittersweet ending.
c. If the math does work, it means that you are one ambitious, hardworking machine. If that's the case, guess what? One week into retirement, you'll be so damn bored that you'll want to stick bicycle spokes in your eyes. You'll probably opt to look for a new job or start another company. Kinda defeats the purpose of waiting, doesn't it?"
Page 31 of “The 4-Hour Workweek”
Our 4-Hour Workweek is about breaking the rules we are taught and embracing new rules. It's a lifestyle change. How so? Quite simply - work smartly to build a business. Delegate and outsource. Set up the organization and stay off the critical path. Empower the staff to make decisions. Allow them the freedom to make mistakes. Force them to have skin in the game. And reward them. Once these rules are in place, execute and execute well. Change when things don't work. Focus on things that work well.
And stay out of the way. Take time off and play. Take a lot of time off. Put excitement back in life. Remove the yoke of the office. Make the world the office. Live anywhere, travel anywhere, and work from anywhere. But the key - work less. Let the organization work on its own.
New rules. Skeptics? Of course. But don't worry about the skeptics. Take advantage of skeptics. Use them as motivators.
Work smart. Play hard. Forget about retirement. Retire is not a part of the new rules. Throw this rule out.
Our 4-Hour Workweek.