Stealth • 4m
9. Relative Income vs. Absolute Income: Focus on relative income (how much you earn per hour) rather than absolute income (total annual income). Maximizing time for what matters is more valuable than simply earning more. 10. Geo-Arbitrage: Take advantage of living in low-cost countries while earning in strong currencies, allowing for more financial flexibility and lifestyle freedom. 11. Escape the Deferred Life Plan: Don’t wait for retirement to enjoy life. Take control of your time and life experiences now through mini-retirements and flexible work arrangements. 12. Embrace Risk and Uncertainty: Recognize that the biggest barriers to achieving freedom are usually self-imposed fears and the desire for security. Embrace calculated risks to achieve lifestyle design. 13. Create Your Own Rules Ferriss emphasizes that the traditional work model doesn’t have to apply. You can redefine work and success on your own terms. 14. Parkinson’s Law: Work expands to fill the time available for its completion. Set shorter deadlines to force efficiency and productivity. By limiting the time you allocate to tasks, you can accomplish them faster. 15. Information Diet: Limit information intake to avoid overwhelm and unnecessary distractions. Focus only on the information that directly impacts your work or life goals. 16. Low-Information Diet and Selective Ignorance: Avoid unnecessary news and other distractions that don’t add value to your life. This helps focus energy on important tasks. 17. Creating a "Muse": A muse is a business that generates automated income with minimal effort. Ferriss encourages setting up these small businesses to free up time and create passive income streams. 18. Escape the Fear of Failure: Ferriss encourages facing and embracing failure as part of the process. He suggests that most people are held back by an exaggerated fear of failure, which prevents them from taking meaningful action.
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