Many “New Rich” Books Fail to Fully Connect the Dots — Here’s What’s Missing
USA Daily Times Editor at Large, Kevin Price, has long been a fan of books like “Four Hour Work Week” and “Rich Dad Poor Dad,” but often failed to “launch” when it came to implementing them. He’s been discussing that often on his show and other media.
According to USA Business Radio:
“Before we discuss Kevin Price’s new book, one should first look at the expression, “New Rich.” The expression was coined by Tim Ferriss, the author of the bestselling book The Four Hour Work Week. Over a million copies have been sold since its release in 2007. It has received both enormous praise and tremendous scorn. Ferriss says, “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.” The objective is to create a lifestyle that empowers people to enjoy maximum freedom as well as a high income, and do it today. Learn more about Tim Ferriss and his work here.
The article goes on:
“In 2007, Tim Ferriss published his pivotal book, The Four Hour Work Week. Price says that the book dramatically changed his thinking on the New Rich model. He knew quickly that the New Rich lifestyle was completely doable. In spite of this knowledge, Kevin still did not seriously pursue it for several years.
“Price did not get serious about pursuing a New Rich lifestyle until 2016. He only began to entertain it seriously after falling ill in 2010. It took him well over a year to recover. “I lost so much financially during that time. I was completely and utterly unprepared. If I had put together a New Rich model, I would have lived off my businesses.” Still, Price did not pursue it until years later. He says, “I was stuck on the idea that I needed to “work” in the traditional sense of the word.” Price finally “broke down” and started implementing a New Rich, “Four Hour Work Week” lifestyle in 2016.
“Price is largely at four hours for his primary business—four to six hours a week—but even that is still shrinking. “It will eventually be a four hour work month,” he says. What does he do with his extra time? He is creating other four hour work week models and traveling as a hobby. Each of his new businesses will provide, when mature, six digit incomes annually and each of them will require considerable less than four hours a week in work.
“How has dramatically reducing his business life from around 50 hours to around 4 a week, worked? “Well, in February of 2016 I was still at 50 hours or more,” Price said. “In March, I jumped in both feet, dramatically reducing my work schedule. I was around 15 hours in no time and 6 to 8 shortly after. By the end of the year I was around 4 to 6. My income increased by over 20 percent in 2016. The more I got out of the way and created systems, the more money I made.”
“Price has long believed that many of the New Rich books work, if the reader brings the willingness to make it happen. His book addresses why unwillingness exists and what to do about it. He has, in fact, identified a dozen reasons why such books do not work for some readers and he has developed solutions to them.
