Monthly Archives: March 2013

Living a 4 Hour Work Week

It all started days following the birth of our first child I found myself passing the time in hospital reading the 4 hour work week, it was a riveting read and came to me at the right time. I was in awe of the new bundle of joy we had just been blessed with and the idea of automating my working life and maximising my time was at an all time high in order to spend as much time as possible with my young family.

My wife was recovering from a tough labour and I had arranged for a masseuse to visit her and provide a 1 hour massage. The lady came in and opened up her massage table and began to set up. She noticed the book I was reading and commented “4 hour work week, wish I could have one of those!” At that moment it dawned on me that here was a lady that was in her 40’s and her sole way of making a living is by carrying around a table and physically handling people for 60 minutes at a time. Who sold her on that plan?

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Opportunity Cost

This post is one that I am really passionate about and something I have used as a guide for my life. It is the understanding of the opportunity cost associated with decisions.

Opportunity cost is a key concept in economics and is not limited to just monetary and financial costs. It encompasses all scarce resources such as time, output, essentially what you will forego. It can be applied to help generate an individual’s price for an opportunity as opposed to the second choice or several other mutually exclusive choices. (more…)