HOUSE_OVERSIGHT_013814.jpg
2.11 MB
Extraction Summary
4
People
1
Organizations
2
Locations
0
Events
1
Relationships
4
Quotes
Document Information
Type:
Book excerpt / evidence file
File Size:
2.11 MB
Summary
This document appears to be a scanned page from a book (likely 'The 4-Hour Workweek' by Tim Ferriss) included in a House Oversight investigation file (stamped HOUSE_OVERSIGHT_013814). The text discusses the philosophy of the 'New Rich' (NR), contrasting high-income, high-workload lifestyles (like investment bankers) with lower-income but higher-freedom lifestyles. It includes a quote by Richard Feynman and narrative examples of lifestyle design, such as chartering planes and negotiating remote work.
People (4)
| Name | Role | Context |
|---|---|---|
| Richard P. Feynman | Physicist |
Quoted at the beginning of the chapter: 'The first principle is that you must not fool yourself...'
|
| D | Speaker (Dialogue) |
Participant in the opening dialogue defining freedom.
|
| NR | Speaker (Dialogue) / Concept |
Participant in dialogue; stands for 'New Rich', the subject of the text.
|
| The employee | Hypothetical Example |
Used as an example of a 'New Rich' individual who negotiates remote work.
|
Organizations (1)
| Name | Type | Context |
|---|---|---|
| House Oversight Committee |
Implied by the footer stamp 'HOUSE_OVERSIGHT_013814' indicating the document's source as part of an investigation.
|
Relationships (1)
Dialogue at the top of the page.
Key Quotes (4)
"The first principle is that you must not fool yourself, and you are the easiest person to fool."Source
HOUSE_OVERSIGHT_013814.jpg
Quote #1
"The blind quest for cash is a fool’s errand."Source
HOUSE_OVERSIGHT_013814.jpg
Quote #2
"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 do it."Source
HOUSE_OVERSIGHT_013814.jpg
Quote #3
"Options—the ability to choose—is real power."Source
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Quote #4
Full Extracted Text
Complete text extracted from the document (2,478 characters)
D: 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 (W4W). After years of repetitive work, you will often need to dig hard to find your passions, redefine your dreams, and revive hobbies that you let atrophy to near extinction. 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.
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 (W4W). After years of repetitive work, you will often need to dig hard to find your passions, redefine your dreams, and revive hobbies that you let atrophy to near extinction. 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.
Getting Off the Wrong Train
The first principle is that you must not fool yourself, and you are the easiest person to fool.
—RICHARD P. FEYNMAN, Nobel Prize–winning physicist
—RICHARD P. FEYNMAN, Nobel Prize–winning physicist
Enough is enough. Lemmings no more. The blind quest for cash is a fool’s errand.
I’ve chartered private planes over the Andes, enjoyed many of the best wines in the world in between world-class ski runs, and lived like a king, lounging by the infinity pool of a private villa. Here’s the little secret I rarely tell: It all cost less than rent in the U.S. If you can free your time and location, your money is automatically worth 3–10 times as much.
This has nothing to do with currency rates. 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 do it. I call this the “freedom multiplier.”
Using this as our criterion, the 80-hour-per-week, $500,000-per-year investment banker is less “powerful” than the employed NR who works ¼ the hours for $40,000, but has complete freedom of when, where, and how to live. The former’s $500,000 may be worth less than $40,000 and the latter’s $40,000 worth more than $500,000 when we run the numbers and look at the lifestyle output of their money.
Options—the ability to choose—is real power. 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 take road trips with his family two weeks per month.
HOUSE_OVERSIGHT_013814
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