Interview | The 4-Hour Workweek | Tim Ferriss

[Music] Hey newly broke viewers want to get out of the rat race and get rich doing it my next guest book claims to have the blueprint for living more and working less it’s called the 4-hour workweek escape nine-to-five live anywhere and join the new rich and it must be good because it was number one on the New York Times bestseller list for like forever or like 15 damn months it makes me sick to my stomach hate you Tim Ferriss here’s the author he says hailed as I am failed so Tim the title of your book promises a hell of a lot makes me a little skeptical what is a 4-hour workweek like how do you do that where I looked at how companies have two or three people could compete with companies of two to three thousand people and what I did is I just took that and applied that to my personal life and looked at case studies of people who had reclaimed time using relatively new tools for most people that starts with cutting back on unpaid overtime on the weekends and evenings but there are some examples of people who take it down to four hours but it’s certainly not something you do overnight the buses don’t respond well to that yes I was just thinking I wanted to just tell roger ailes that I was only going to come in to Fox four hours a week and then demand a raise but Tim you’re saying that problem now or more than you do now yes Zach say I only really work for 45 minutes and even then I’m so stoned damn it’s pathetic that I even have a job now what is okay so what is the first step in order to achieve this extremely successful but highly effortless lifestyle the the first step really is looking at new measurements of time and how you spend that time so first of all I’d encourage everybody to look at their hourly income instead of their annual income because it’s very common that you might make $50,000 a year get a raise to 55 but your workload goes up 20% so you’re actually getting demoted overtime until you end up right getting roughly the amount per hour of a Burger King employee while you’re working as an investment banker which seems to be the fashion at the moment so a good way to approximate that is to just take your annual income let’s say it’s $50,000 cut off the last three zeros and cut that in half you make $25 an hour so at that point if if you can go to let’s say ask Sunday there’s company called asks Sunday that will route your calls from a new number two India and let’s just suppose that you’re a single mother and my son wants the hot new toy of the season of course you are like the tickle-me-elmo yeah rather than set spend your entire Saturday looking for that toy you call us Sunday say here’s my zip code call every toy store within ten-mile radius reserved it for me call me when it’s ready and you save yourself five hours so 125 dollars looks for two hours Tim that may work if you want to Tickle Me Elmo doll but I’m not that kind of sicko you think I am you know it’s funny I did the little equation for Bill and it came out to 37 cents an hour yeah actually that was more than I made yeah Tim your philosophy behind this book does it matter more or less now that we’re in a recession I bet I can guess your answer I would say that it matters more but precisely because I think retirement is in many respects a false idol when you talk to whether it’s dot-com millionaires or middle-class people who have retired you find that it really doesn’t redeem all of that waiting in the deferred life plan so I think reexamining time using tools to see exactly how you spend your time like rescue time calm or other free tools is very important and that isn’t coming just from me it’s coming from people like the work family advisor to Al Gore and Jack Welch it’s coming from all sides I think it’s the perfect time to re-examine your priorities and where you’re paying attention now you’re a best-selling author you speak at countless firms so in order to sell your philosophy which sounds inviting you probably work 80 hours a week don’t you no I actually spend very little time promoting the book and spend most of my time working on either writing which is something I enjoy or investing believe it or not but the important point is not being idle so I’m not proposing that people lay on a beach rubbing cocoa butter on their stomachs for the next 20 30 years okay just come out and ask me and I’ll be busy but go ahead is to simply reclaim their time which is a non-renewable resource unlike income right and then to apply to things that are important to them okay now I read you working on a pilot for the History Channel you’re plotting to break a land speed record you’re training for a triathlon you’re planning a flamenco dancing trip to Madrid where do you find time to perform open-heart surgery that’s what I want to know I’m working on open-heart surgery but I have short little hands and they’re not very good for reaching into the cavity that’s too bad because I do you have to stick to your strengths I kick to your strengths I gotcha I don’t have any strength that’s my problem Tim Farriss congratulations on the phenomenal success of your book like I said I hate you for that and but anyway it I’m gonna do I’m gonna read it when I get home the book is called the 4-hour workweek escape nine-to-five live anywhere and join the new rich thank you we’ll close things out with the