DISQUS

Protocol has been removed from my copy of the book and from my short-list of call center providers. I will be sure to let my fellow entrepreneurs not to bother Protocol, because they are clearly too busy to handle our business.

I still think the best personal money management book ever written is a series of stories written from the 1920s to 1940s by George S. Clason, compiled into a single book, and published as "The Richest Man in Babylon". You can pick it up at any bookstore for $7.

Cool, man. I am loving the interviews you do. One of the things I really appreciate about this site is that you're NOT trying to sell a bunch of crap here. What you show, by being down-to-earth and not trying to shove product down our throats, is that a normal person can go out on their own and make a living. That along with the interviews you have are inspirational. So, thanks. And I'm still hanging around enjoying what you do here. I'm hoping I can overcome my hurdles to "financing my freedom"... soon.

Clay,
This was a GREAT idea, a fantastic interview, and I would love to hear more like this. Thank you to Chris for contributing his time and thoughts.

@Brian
Thanks for offering that book for free. I prefer reading things in paper-form and certainly people could also check "The Richest Man in Babylon" out from a library rather than buying it. Your site does look interesting. I would argue that using predefined allocations for assets is not the best way to handle investing. Each person's goals are different, and I also think that what made sense in 1985, 1995, or 2005 doesn't necessarily make sense now. Investing in Microsoft in 1985 might have made a lot of sense; there was plenty of growth opportunity and you could buy into the company at a very small price. The same applies to General Electric or Proctor & Gamble. They made sense once, and if you'd bought early-on they would be great to own now (dividends, etc.), but it makes no sense to jump in now. The same applies to asset classes. Each point in history is different. Each person is at a different point in life. I believe the principles in "The Richest Man in Babylon" are sound, and that the lack of recommendation of any specific allocation makes it more timeless.

As I mentioned in an earlier comment, the book "The Richest Man in Babylon" takes a similar approach to investing as Buffett. Earlier I mentioned the book, but since it appears you're looking for a specific answer, I'll give you mine which will be based substantially on the book I mentioned. What industries do you understand? What industries do you have an interest in that you could research and comprehend? Focus on one or two industries and find companies being run by someone with successful experience in that industry; invest in those few companies as directly as you can. Don't take your money out. Personally, I would also put some money - perhaps 15-20% - into metals, particularly silver at the moment, but also buy gold on a "dip". Industries I'd buy into? Renewable energy like solar and wind. Vertical axis windmills are looking promising to me. Larger real estate development companies with experience in urban development/re-development are probably a good long-term bet with higher gas prices, and they might be a bargain right now. Whatever you do, buy for the long term.

The best thing anyone can read on personal finance and investing is a little book written in pieces from the 1920's to 1940's titled "The Richest Man In Babylon" by George S. Clason. It's a great set of stories set in ancient Babylon - which makes it a fun read - teaching savings, how to get out of debt, and how to invest. The investment strategy, when you really look at it, is very similar to Buffett's strategy of buying into a good business and holding it. The book is fun, an easy read, and you can pick one up at any bookstore for $7. I recommend it to everyone I meet who talks to me about finances.

I have to take the stance that intellectual property and laws around it need to be upheld strongly. As Alex Hammer points out, "one’s content is one’s currency." In an era where information is the most valuable product you can produce, giving away your product (property) is completely foolish. Owners of distribution channels stand to be the only people who can earn real money if intellectual property has no monetary value. Providing a distribution channel to multiple information creators was one of the great promises of the Internet, but one that's being destroyed by the idea of free information. Why do you think Steve Jobs has become such a fan of DRM-free music on iTunes? If music is free, it only serves to improve the profits in owning the distribution channel. (I'm not defending the DRM methods of iTunes, merely using it as an example for my purposes). MasterCard and Visa make money by owning the distribution channels of currency. If your content is free, you're merely providing an opportunity for the owner of a distribution channel to make a lot of money while you make nothing for your most valuable product. And "scraping", as it's being called here, is just the next step in destroying the value of your product until you have no income.

@Tim
I checked out what Marty was talking about. When you click on the link to the calculator you get a 404 "not found" error. It's the custom 404 error page that is specific to your site. The link that goes to the error is:
http://www.fourhourworkweek.com/blog/calculator

and is on this page:
http://www.fourhourworkweek.com/blog/lifestyle-...

- Brandon W

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Thanks, Brandon!

Tim

An organization I have worked with that would be a great opportunity for your readers is Partners of the Americas. Formed in 1963 under John F. Kennedy as the Alliance for Progress, the program has morphed over the years into an international non-profit. They focus on developing programs in the following areas:
* Civil Society & Governance
* Exchanges & Fellowships
* Gender & Equality
* Youth & Children
* Agriculture & Environment

Many volunteers go for 2-4 week projects. In my experience, the organization arranges for volunteers to stay with a host family which covers lodging and food expense while giving the volunteer a chance to really experience life in that country.

Each state has it's own chapter which works directly with a specific country in Central or South America. To find out more and get contact information for the chapter in your state, go to www.partners.net.

- Brandon W

I think you should have told everyone that the guy in your videos was a hired look-a-like. Now, that would be hilarious.

While this appears to be a great practical joke by Mr. Tim Ferriss (the real one), I know of at least 2 people getting paid about $300/mo to ghostwrite daily blogs. Most of the content out there is horrible, amateurish, and pointless. If it's good, it's either written by a professional or is written by someone who will earn their rank as a professional.

Amateur Web content is like American Idol. In the end, a couple of people will go on to be paid professionals, and the rest will go back home to work at McDonald's.

Hi Tim,
I would enjoy reading real-world examples of everyday people putting your strategies to work successfully. Those sorts of stories would be both motivational and educational, and likely help people like the commenter above who suggested help with muses. While I enjoy the insight into your personal life, your blog could also serve as an ongoing conversation - an interactive "book" - continuing and expanding your ideas of lifestyle design. Perhaps that was your original intent, but I feel we would all benefit by contributing as a community to advancing these ideas.

Tim, I appreciate your post and it helps, as I'm going through a bit of a rough time right now myself. As a fellow Costa Rican traveler, I think your sign-off - Pura Vida - and all the meaning behind it is something good to keep in mind when we have our bad moments.

I wish you well and remember - Pura Vida!

Tim,
You eloquently state what I've been trying to explain to others about myself for many years. It is my broad knowledge of topics from sociology to electrical engineering, from theatre to mathematics, that has enabled me to hold conversations with PhD's in Physics as well as PhD's in Comparative Religion. I enjoy that about my life and have always found repetitive activity of a specialization to be a prison.

I must disagree with some, above, who have argued that college is a waste. A liberal arts college gives a person opportunities to be exposed to new ideas and sample dozens of subjects in one place. With that base of knowledge, then is the time to go out into the world and expand and experience the world first hand.

Thanks Tim.

Hey Tim,
Your photo of Arenal is broken! I was just there on July 19th and 20th, myself. My whole trip to Costa Rica was from July 14th-24th. Unfortunately, it was too cloudy/rainy at night for me to get the full view of the lava, but is was amazing nonetheless. I half-expected to bump into you while walking the streets of La Fortuna.

Pura Vida!

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Hi Brandon,

Oops! The photo resizer I use spits out all smaller files with the same file name, and when I uploaded the Pocari Sweat shot, it overwrote the Arenal photo. I'll get on it...

Cheers,

Tim