Psychology of Money: 25

Two blogs back I shared the mindset of a friend of mine – a mindset very far from my own, but one that liberated them from living just to work – which is the rat race many people I know are caught up within.  This friend is obviously good at using and managing their money – and they might even be good at acquiring money (back to Gallo’s model again). But while I’m in the mood for a radical re-think of my money skills and deep-seated habits,  unlike my friend,  I have loads of fear about being strapped for cash and not much fear about doing a job I don’t always like.

Enter Tim Ferriss and his promise that I can work a 4-hour week. If you don’t have time to read his 381 page book, the video underneath offers a synopsis in 6 minutes flat. Even though I’m only partially through the book, I’d urge you to pick up a copy. Ferriss just isn’t that funny (or necessarily convincing) on video – whereas his book is often both LOL and compelling. At the outset of it he compares typical financial aspirations compared with what he calls the “new rich” mentality.

Typical: To retire early or young

New Rich: To distribute “recovery periods” and adventures (“mini-retirements”)  throughout life on a regular basis. Inactivity is not the goal

Typical: To buy all the things you want to have

New rich: To do all the things you want to do & be all the things you want to  be. “If this includes some tools and gadgets, so be it, but they are either means to and end or bonuses, not the focus”

How on earth do we get to be New Rich? We need to “unplug & reset” ourselves and walk away from the madness of the mob – we need to think a bit laterally and independently. Ferris shares his ideas on how to do that inside his book (or go to itunes and download one of his free podcasts.)

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2 Comments

Filed under Books etc., Money

2 responses to “Psychology of Money: 25

  1. emily

    I don’t buy it. Certainly not going to buy the book as I fundamentally disagree with almost all of the video!

  2. nathaliehourihan

    Which part leapt out as most ridiculous to you? Am going to press on in the hopes that just maybe there’s a good idea or two in there 🙂

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