Discover Your Career Path
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Questions and Answers

What is the currency of the new rich according to Timothy Ferriss?

  • Social status
  • Luxury goods
  • Money and power
  • Time and mobility (correct)

    • What is the importance of being a dealmaker according to the text?

  • To negotiate reality (correct)
  • To make more money
  • To gain power and control
  • To be unethical in negotiations

    • What does the word DEAL stand for in the context of the text?

  • Determine, Evaluate, Analyze, Limit
  • Demonstrate, Evaluate, Analyze, Learn
  • Definition, Elimination, Analysis, Limitation (correct)
  • Determine, Evaluate, Act, Learn

    • What is the uncommon conclusion that the text leads to?

    <p>The common sense rules of the 'real world' are a fragile collection of socially reinforced illusions</p> Signup and view all the answers

    What is the New Rich's approach to work-life balance?

    <p>Taking mini-retirements throughout their lives</p> Signup and view all the answers

    What does the author suggest about sacrificing personal productivity for the sake of work?

    <p>It is not productive and should be avoided</p> Signup and view all the answers

    What is the author's advice on waiting for the right time to pursue important things?

    <p>Do it now and correct the course as you go</p> Signup and view all the answers

    What does the author recommend regarding focusing on strengths and weaknesses?

    <p>Focus on leveraging strengths for better results</p> Signup and view all the answers

    What did the author do to conquer his fear of uncertainty?

    <p>He envisioned all possible worst case scenarios and realized they were not as bad as he thought</p> Signup and view all the answers

    What did the author realize about his worst case scenarios?

    <p>They were only temporary and not as bad as he thought</p> Signup and view all the answers

    What did the author's clients often say to him after experiencing his services?

    <p>God, I wish I could do what you do</p> Signup and view all the answers

    What did the author realize about fear disguised as optimism?

    <p>It leads to the same result as fear disguised as pessimism - nothing happens</p> Signup and view all the answers

    What is the main difference between the 'New Rich' and the 'Deferrers' according to the text?

    <p>The 'New Rich' prioritize quality of life and pursuing their dreams, while the 'Deferrers' prioritize accumulating material possessions.</p> Signup and view all the answers

    What is the 'E' in the 'ELA' lifestyle design recipe according to the text?

    <p>Elimination</p> Signup and view all the answers

    What is the 'A' in the 'ELA' lifestyle design recipe according to the text?

    <p>Automation</p> Signup and view all the answers

    What is the 'L' in the 'ELA' lifestyle design recipe according to the text?

    <p>Liberation</p> Signup and view all the answers

    What is the main reason people avoid quitting their jobs?

    <p>They believe everything will improve</p> Signup and view all the answers

    What is the difference between enduring a boring job and enduring pure hell?

    <p>Pure hell forces action, while a boring job can be endured without action</p> Signup and view all the answers

    What is the fear of the unknown disguised as?

    <p>Optimism</p> Signup and view all the answers

    What is the main message the author is trying to convey?

    <p>Don't save it all for the end</p> Signup and view all the answers

    What is the measure of a person's success, according to the text?

    <p>Their willingness to have uncomfortable situations</p> Signup and view all the answers

    What should you consider when measuring the cost of inaction?

    <p>The potential downsides of action and the atrocious cost of inaction</p> Signup and view all the answers

    What is the 'freedom multiplier' according to the text?

    <p>The number of options you have in life</p> Signup and view all the answers

    What is the flaw with retirement planning according to the text?

    <p>It is predicated on the fact that you don't like what you are doing during the most physically capable moments of your life</p> Signup and view all the answers

    What is the author's view on following popular models?

    <p>They are never effective and should be avoided at all costs</p> Signup and view all the answers

    What is the important distinction between official rules and self-imposed rules according to the text?

    <p>Self-imposed rules are more important than official rules</p> Signup and view all the answers

    What is the meaning of eustress according to the text?

    <p>Stress that is healthy and promotes growth</p> Signup and view all the answers

    What is the importance of relative income according to the text?

    <p>It is more important than absolute income</p> Signup and view all the answers

    What is the author's view on using money as a solution to problems?

    <p>Adding more money isn't the answer to problems</p> Signup and view all the answers

    What is the definition of free time according to the text?

    <p>Time spent doing what you want to do</p> Signup and view all the answers

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