Financial Wisdom - Tim Ferris

Tim Ferris is a New York Times bestseller, known for his book "The 4-hour workweek" where he expounds on the idea of working just 4 hours per week and still able to live comfortably. This is done via mostly passive income and being an angel investor.

Here are some of his ideas:

Start your own business and then, outsource the work

Tim started his company and eventually realized that he is on the verge of breaking down. He also realized (and found a way) that he can scale up the business and scale down on this activities. This is done by outsourcing the work to virtual assistants based overseas.

Invest in other companies

Tim got rich via his early investments in Uber, Facebook, X, Alibaba, Shopify, Duolingo and others. According to some reports, just his holdings in Uber alone is now worth $100M...not bad when he invested just $25K. His advice to other angel investors is to have an ENORMOUS informational advantage. In addition to looking at the company financials, he mentioned that he did his due diligence by researching the customers, competitors and other stakeholders.

Create a book, course or other intellectual property

While it take a great deal of effort to write a book or to create a course, the benefits are that once it is released, the benefits will continue to reap the financial its benefits on an ongoing basis.

Time Management or is it really Project Management?

We have been told since young by others that in order to do something well, we need to have good time management. As one who leads projects for a living who knows a thing or two about this, I will say that time management is a fallacy. Purely speaking, time management (just like managing people) refers to managing time in which we control time, i.e. we can accelerate it (to make it go faster), slow it down, or to stop time. We can do this with a lot of things but we cannot manage time - it continues to chug along, whether we like it or not. If you were to ask me the time and my answer is, say 9:00am, that time is already gone because it is 9:01am when you continue with what you are doing. Time is like a freight train or a subway that we can only latch on to and hope we can do things within the allotted time. Ask the student who needs to submit the paper at 11:59pm Sunday night or the employee who need to submit the report Mon morning 9:00am. In truth, what ...

The Mental You - Reducing Stress part 2

Just like there are always 2 sides to each story (the good and the bad), we can tackle issues in 2 ways - either head on or perhaps we can do something opposite altogether. The previous post is primarily concerned on how to overcome stress by reducing it. Another way is to focus on something totally unrelated to stress. So, rather than looking at fixing the bad, we focus on the good such that there is little room for the bad. Let's work on this together... Positive Thinking What do you see if you turn on the news, or start looking at social media? More often than not, aside from the beautiful people and cute cats, the news is mostly gloom and doom. There are wars and rumors of wars, climate change due to global warming causing floods, and other disasters, earthquakes at various parts of the world. So, it's no uncommon for us to no longer see the world in rose-tinted glasses but glasses with murky lenses. And yet, to reduce stress, this is the one thing we must do - to think ...

Parenting

How did you do it? This question has been asked by many of my friends and colleagues when they found out about my children. We had initially thought that what we went through is typical. But as we talked to more and more people, it is only then we realized that the journey is not so common after all. Singapore has been ranked amongst the top countries in the world by PISA, short for the Program for International Student Assessment that is under the OECD umbrella. In some years, it is actually ranked number 1. In other words, to be able to get through the Singapore education system is difficult enough as it is. The Journey to College By the grace of God, both my kids did well in the system by being selected into the Gifted Education Program (GEP) - for the top 1% of students - and then getting into Raffles Institution (supposedly the number 1 school in Singapore), and achieving straight As in the Singapore-GCE Cambridge "A" levels, and then receiving offers from a few o...

Paving the Wei

Search This Blog