In this economy does 4HWW IMPROVE its chances?

[final_id]

I kind of like the fact that the economy is tanking. I've always had to "do without" because I (foolishly?) went into the humanities, and I've never really LIKED business of the count-the-profits sort. I'm not an entrepreneur or capitalist at heart. So now, I don't need to feel guilty for having failed to live that classic American Horatio Alger story that we're so often guilted into performing. 4HWW sometimes participates in Horatio Alger, sometimes rejects it, but either way it's much less likely to come to fruition in this economy.

I'm wondering if people have seen their Target Monthly Incomes change, and their attitudes toward 4HWW shift, as the national economy has changed and reoriented our thinking? We can no longer assume (for instance) that the US currency will be stronger than any given foreign nation's, in terms of real buying power, and so Tim's assertion that you can "live like a king" in other lands, may simply be untrue for the future. How would his tango trip to B.A. have turned out if his US dollars stopped going as far as they did back then when he did it?

My personal target has always been, to be involved in the things I like, while also making enough money that I could opt out of a certain week or month of work. I hate the idea of being at work 100% of my time -- hence my interest in the 4HWW programs and suggestions -- but you have to figure out the income to make it happen. Many workplaces for many Americans WOULD pay them twice as much money as they would need to live a normal life, so you WOULD assume that such an American could therefore only work half the time and take half the money, but the workplaces themselves won't cooperate with that intelligent program, and insist that the worker bee be present for the full double-time-necessary job. So, if you CAN make $100K a year, why wouldn't your workplace LET you work only half of each week and earn $50K instead? But somehow the employer gets pissed off at that suggestion, it hints of "slacking", and they don't want you to have a balanced life.

What about in this new economy? Are we moving in that direction? Are things getting "better" for 4HWW BECAUSE OF the economy tanking?

Your thoughts welcome ...

[kamakiri]

I haven't watched TV in 6 years, and I am glad I don't. It has been on around me and I have to tune out all of the 'doom Sayers' on the daily news. I canceled my newspaper subscription because the only thing I got from it was a pile of stories about the world going down the tubes, from war stories, to weird crimes. I was eating a low info diet for a while before Tim wrote his book.

Filtering that news has been great. I have a much better outlook on life. If you are surrounded by bad news about the economy (ie watch the news, or read most print material), then that is what you are going to be thinking about. The reverse law of attraction.

There is more opportunity in this economy than ever before. People are not complacent any more. They are making more educated decisions in purchases and how they use money. The old guard is dying. Just look at that dinosaur of a city Detroit.

Not having a cheap place to go live like a rock star? Not a chance my friend. There will always be the places at the bottom of the ladder. Sure you don't want to go to a squalid town that is living off sweat shops, but I can assure you, any place with sweat shops currently operating will not be as poor in 5 years as they are today, nor will the sweat shops be around. They are a step on the ladder.

The thing you are missing here is that things change. People change, and economies change. In a war, the old guard can muster a defense and stop the invasion. With information, they can't do a thing. People can try to stop information, but info wants to be free. The future belongs to the smart people. Things like nicotine, alcohol, and fast food will be taxed at a higher and higher rate, and will be habits of the poor class.

To finish off, with a resounding YES! Things are good. Today's world is one of work for work's sake, and it is changing. The economy is moving toward information. It is gravitating to those who leverage their earning power, and that is the key element of the 4HWW.

[sub8hr]

In the movie Men in Black, the character Kay makes an astute observation, "A person is smart. People are dumb, panicky dangerous animals and you know it."

Since companies are generally run by groups of people and not by a person, they are generally dumb and panicky. Especially in recessions. Knee jerk reactions during troubled economies cause even companies that are posting record revenues and profits to slash their work force and cut costs. This arguably makes them more cost effective, but workers are now tasked to the hilt taking on the duties of their fallen comrades--in the despaired knowledge that they will have no hope of making any additional money for their additional efforts.

This may help force an 80/20 lifestyle out of necessity, however, if you still wind up working more and harder due to sheer volume--for no additional gain--then you are worse off than you started.

Even if you discover that under normal conditions that you can perform your tasks to the same degree of effect in half the time, employers will generally simply opt to add more to your plate--for no additional pay--and pat themselves on the back for the bargain they are getting on such cheap, effective labor.

Conclusion: A regular job, while sometimes necessary to feed and house yourself, will always be the worst possible way of pursuing 80/20 for yourself.

That said, I think that the world is always ripe for the picking by a smart person who knows where to look. The average person who gets laid off or fired will 99% of the time just look for another job doing the same old, same old. If they can't find one due to recession or what have you, they will most likely just bitch and moan about the economy, and collect unemployment for a while until more jobs appear.

Meanwhile, according to reports by comScore, affluent people intended to spend more online during the 2008 holiday season despite the troubled economy. Retail categories such as furniture were posting increased year over year sales. This screams opportunity.

I think it's worth bearing in mind that "the market" is really many markets. Just because "the market" is down, doesn't mean that all markets are down. Something will almost always be in the ascendant and there will always be opportunities. The important thing is the value you are offering to the market, and whether or not it is needed or wanted.

Regardless of good economic conditions or bad, the smart person will always be in a better position to leverage their time and resources. The larger the group gets, or the further down the chain you get (and thus less autonomous control), generally their will be more inefficiency and more dumb panickiness to contend with.

[tbone2345]

I haven't watched TV in 6 years, and I am glad I don't.


Cant agree more here. TV-less for ~8 months and loving it....you don't realise what a distraction it is until its gone, so much more time now. When I do want some passive entertainment, I can grab a movie or a whole season of a TV show and watch it when I want for how long I want with no ads.

I think that sharp entrepreneurial-minded individuals do better in a down economy. Much less noise to compete with as weaker competitors die out or downsize particularly those at the low cost or cost focussed end of the market.

[final_id]

I haven't watched TV in 6 years, and I am glad I don't. It has been on around me and I have to tune out all of the 'doom Sayers' on the daily news. I canceled my newspaper subscription because the only thing I got from it was a pile of stories about the world going down the tubes, from war stories, to weird crimes. I was eating a low info diet for a while before Tim wrote his book.

Filtering that news has been great. I have a much better outlook on life. If you are surrounded by bad news about the economy (ie watch the news, or read most print material), then that is what you are going to be thinking about. The reverse law of attraction.

There is more opportunity in this economy than ever before. People are not complacent any more. They are making more educated decisions in purchases and how they use money. The old guard is dying. Just look at that dinosaur of a city Detroit.

Not having a cheap place to go live like a rock star? Not a chance my friend. There will always be the places at the bottom of the ladder. Sure you don't want to go to a squalid town that is living off sweat shops, but I can assure you, any place with sweat shops currently operating will not be as poor in 5 years as they are today, nor will the sweat shops be around. They are a step on the ladder.

The thing you are missing here is that things change. People change, and economies change. In a war, the old guard can muster a defense and stop the invasion. With information, they can't do a thing. People can try to stop information, but info wants to be free. The future belongs to the smart people. Things like nicotine, alcohol, and fast food will be taxed at a higher and higher rate, and will be habits of the poor class.

To finish off, with a resounding YES! Things are good. Today's world is one of work for work's sake, and it is changing. The economy is moving toward information. It is gravitating to those who leverage their earning power, and that is the key element of the 4HWW.

I congratulate Kamakiri on being better than the rest of us. I don't quite get why we need to be berated in that manner, but, well, I guess better people know more than we do, so they know why we deserve it better than we would know. :rolleyes:

[kamakiri]

Hmm. If you think that was a berating, you are sadly mistaken.

Do I think I am better than most? Hell yeah, my time is worth more. In the jungle tigers starve last. When is the last time you saw a tiger in law school?

[froldt]

Cant agree more here. TV-less for ~8 months and loving it....you don't realise what a distraction it is until its gone, so much more time now. When I do want some passive entertainment, I can grab a movie or a whole season of a TV show and watch it when I want for how long I want with no ads.

It's surprising how many people try to have a conversation beginning "Have you seen that show/commercial?" NOPE! Also, it's amazing how often you have to remind someone that you don't have a tv. It just doesn't sink in.
However, there can be much time saved by not having a TV. As Kam says, if you want to watch something, you can rent a movie or whole season (I get 'em from the library, can't beat free!)

Back to topic, if you can build a successful business in a slow economy, think how much better it will be in a stronger one! Don't lose sight of those foundations, though, or you can become over-run with excess costs that will hold you back during the next slow-down!

[tbone2345]

It's surprising how many people try to have a conversation beginning "Have you seen that show/commercial?"

Hehe....I find it so interesting the reaction people have when you say you don't watch tv, they act like you have the plague or some seriously infectious disease, its hilarious

[froldt]

Hehe....I find it so interesting the reaction people have when you say you don't watch tv, they act like you have the plague or some seriously infectious disease, its hilarious

Agreed. They seem to think that it's impossible to not have a tv. I'm always receiving the advice that "You should check out this show." I don't even respond any more.

[sub8hr]

Agreed. They seem to think that it's impossible to not have a tv. I'm always receiving the advice that "You should check out this show." I don't even respond any more.

On that note. There's a book called "Class in America" that describes the size of your TV and its prominence in your home as an inverse relation to the amount of wealth you possess. The working classes having large, prominently featured TVs, whereas the extremely wealthy not even having a TV in a "living room" space and being largely oblivious to even the most popular shows.

[webgal]

Then I should be a millionaire shortly. Our tvs are pitiful. Shows you how much value I place on them. I do, however, want a big screen in March when the NCAA basketball tournament is on. Other than that, I could care less.

I do have some awesome computers, though.