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January 5 - January 28, 2025
Whenever you find yourself on the side of the majority, it is time to pause and reflect. —MARK TWAIN
Anyone who lives within their means suffers from a lack of imagination.
Gold is getting old. The New Rich (NR) are those who abandon the deferred-life plan and create luxury lifestyles in the present using the currency of the New Rich: time and mobility.
Outside of science and law, all rules can be bent or broken, and it doesn’t require being unethical.
D for Definition turns misguided common sense upside down and introduces the rules and objectives of the new game.
E for Elimination kills the obsolete notion of time management once and for all.
This section provides the first of the three luxury lifestyle design ingredients: time.
A for Automation puts cash flow on autopilot using geographic arbitrage,
This section provides the second ingredient of luxury lifestyle design: income.
This section delivers the third and final ingredient for luxury lifestyle design: mobility.
An expert is a person who has made all the mistakes that can be made in a very narrow field.
Reality is merely an illusion, albeit a very persistent one.
from the Deferrers (D), those who save it all for the end only to find that life has passed them by?
D: To be the boss instead of the employee; to be in charge. NR: To be neither the boss nor the employee, but the owner. To own the trains and have someone else ensure they run on time.
D: To reach the big pay-off, whether IPO, acquisition, retirement, or other pot of gold. NR: To think big but ensure payday comes every day: cash flow first, big payday second.
To have freedom from doing that which you dislike. NR: To have freedom from doing that which you dislike, but also the freedom and resolve to pursue your dreams without reverting to work for work’s sake
The goal is not to simply eliminate the bad, which does nothing more than leave you with a vacuum, but to pursue and experience the best in the world.
The first principle is that you must not fool yourself, and you are the easiest person to fool.
The blind quest for cash is a fool’s errand.
you can free your time and location, your money is automatically worth 3–10 times as much.
Being financially rich and having the ability to live like a millionaire are fundamentally two very different things.
Money is multiplied in practical value depending on the number of W’s you control in your life: what you do, when you do it, where you do it, and with whom you ...
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This book is all about how to see and create those options with the least effort and cost. It just so happens, paradoxically, that you can make more money—a lot more money—by doing half of what you are doing now.
So, Who Are the NR?
The employee who rearranges his schedule and negotiates a remote work agreement to achieve 90% of the results in one-tenth of the time, which frees him to practice cross-country skiing and ...
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I can’t give you a surefire formula for success, but I can give you a formula for failure: try to please everybody all the time. —HERBERT
Everything popular is wrong.
The important distinction is that between official rules and self-imposed rules.
Different is better when it is more effective or more fun.
1. Retirement Is Worst-Case-Scenario Insurance.
Retirement planning is like life insurance. It should be viewed as nothing more than a hedge against the absolute worst-case scenario:
Retirement as a goal or final redemption is flawed for at least three solid reasons:
I’m not saying don’t plan for the worst case—I have maxed out 401(k)s and IRAs I use primarily for tax purposes—but don’t mistake retirement for the goal.
2. Interest and Energy Are Cyclical.
Alternating periods of activity and rest is necessary to survive, let alone thrive.
The NR aims to distribute “mini-retirements” throughout life instead of hoarding the recovery and enjoyment for the fool’s gold of retirement.
Personally, I now aim for one month of overseas relocation or high-intensity learning (tango, fighting, whatever) for every two months of work projects.
3. Less Is Not Laziness. Doing less meaningless work, so that you can focus on things of greater personal importance, is NOT laziness.
Few people choose to (or are able to) measure the results of their actions and thus measure their contribution in time.
The size of your bank account doesn’t change this, nor does the number of hours you log in handling unimportant e-mail or minutiae.
Focus on being productive instead of busy.
4. The Timing Is Nev...
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Waiting for a good time to quit your job? The stars will never align and the traffic lights of life will never all be green at the same time.
“Someday” is a disease that will take your dreams to the grave with you.
If it’s important to you and you want to do it “eventually,” just do it and correct course along the way.
5. Ask for Forgiveness, Not ...
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Most people are fast to stop you before you get started but hesitant to get in the way if you’re moving.
Get good at being a troublemaker and saying sorry when you really screw up.
It is far more lucrative and fun to leverage your strengths instead of attempting to fix all the chinks in your armor.
Pacifists become militants. Freedom fighters become tyrants. Blessings become curses. Help becomes hindrance. More becomes less.fn3
