• Don't delay your happiness for early retirement, rather have many and frequent time-offs, it's the right way to live
• Strive not for happiness, but for excitement!
• When taking a risk, think about the worst-case scenario and how to still make the best of it. You will be less scared of taking that risk
• Accurately define activities you want to do instead of general ones, or else you will postpone indefinitely
• There is a direct correlation between an increased sphere of comfort and getting what you want - challenge your comfort zone constantly!

1. Retirement is worst-case-scenario insurance
2. Interest and energy are cyclical (why frequent time-offs are important)
3. Less is not laziness
4. The timing is never right
5. Ask for forgiveness, not permission
6. Emphasize strengths, not weaknesses
7. Things in excess become their opposite (e.g. help can become a hindrance)
8. Money alone is not the solution
9. Relative income is more important than absolute income (focus on per-hour income instead of per month)
10. Distress is bad, eustress is good (eustress is healthy stress that makes you become better and succeed)

Dreamlining is the process of brainstorming, visualizing, and planning out your dreams. We all should do it sometimes to keep ourselves in check and make sure we are on the right path to leading a good and satisfying life.

1. What would you do if there was no way you could fail? Name 5 things you dream of having, being, and doing
2. Drawing a blank? What would you do if you had $100 million in the bank? What would make you most excited to wake up in the morning?
3. What does "being" entail doing? (e.g. to speak Chinese fluently, you need to learn Chinese)
4. What are the 4 dreams that would change it all?
5. Determine the costs and calculate your Target Monthly Income (TMI) for achieving them in 6 and 12 months.
6. Determine three steps for each of the four dreams in just the 6-month timeline and take the first step now.

Effectiveness is doing the things that get you closer to your goals. Efficiency is performing a given task (whether important or not) in the most economical manner possible. You should focus on effectiveness, rather than efficiency.

You need to constantly ask yourself: "Am I being productive or just active?"

A good approach to elimination will kill the need for time management. You won't deal with tasks that waste time.

Pareto's Rule: 80% of the outputs result from 20% of the inputs.

• Which 20% of sources are causing 80% of my problems and unhappiness
• Which 20% of sources are resulting in 80% of my desired outcomes and happiness?

Parkinson’s Law: a task will swell in (perceived) importance and complexity in relation to the time allotted for its completion.

You should use both Pareto's rule and Parkinson's law synergistically. Keep the tasks that achieve the most results and finish them in a shorter amount of time.

• When compiling your to-do list for tomorrow, for each task ask yourself: "If this is the only thing I accomplish today, would I be satisfied with my work?". If the answer is "no", it probably is not an important task
• Do not multitask!
• Practice selective ignorance - trim the sources of information that are time-consuming and not useful
• Ask the people who you know are experts to save time instead of researching yourself (Tim once asked a better-informed friend with similar political views who he should vote for)

These tips relate to your behavior when dealing with people in a professional setting. There is a life outside work!

• Be difficult and assertive when it matters
• Let unimportant things accumulate and complete them in batches
• When faced with a meeting that you fear will be unproductive, claim that you need to go first and leave in 5 minutes
• Appear busy to people to force them to be efficient in explaining their problems

• Get a remote personal or virtual assistant who will do everything that consumes a lot of time and you hate doing - including reading and replying to emails
• Never automate something that can be eliminated, and never delegate something that can be automated or streamlined
• Always begin with the end in mind - carefully plan out processes and assess whether they will assure a stable income or will become a liability down the line

A business should be designed to generate steady passive income with as little headache as possible.

1. Pick an affordably reachable niche market
2. Brainstorm products
1. One-sentence slogan
2. Price between $50-$200 - creates a high-end image, customers will be less likely to return or complain, and fewer unit sales are needed for profit
3. Should take no more than 3-4 weeks to manufacture
4. Everything should be explainable in an online FAQ
3. Resell, license, or create the product

The step of liberation refers to the freedom of traveling and working from any place in the world you want.

By this point, the elimination step will make your travels to different places less noticeable and the automation step will leave most other things in the hands of your assistant.

If you work a 9-to-5 job, you need to prove to your boss that you are more productive in a remote setting. Start with small compromises and escalate to full-time remote in the end.

Most people are reluctant to the nomad lifestyle and these are the top reasons they cite:

• Quitting is permanent
• I won't be able to pay the bills
• Health insurance and retirement accounts disappear if I quit
• It will ruin my resume

None of the previous concerns are valid if you think them through:

• You will find a new job as you found your last one if needed
• Add up costs necessary to live a few months in a foreign place and you will probably see that it is not too far from your regular expenses
• Depending on your country, you may find that paying for your own insurance is cheaper than expected
• When recruiters ask you about that gap year and you tell them you visited the world, the first thought in their mind will be "How can I do that as well?"

• You will have doubts about leaving the 9-to-5 life or working too little: "What am I doing with my time now? Am I wasting it?"
• Realize that the amount of money you make does not make you more successful and some of your peers will earn more with a 9-to-5
• You need to find your purpose. Generally, 2 components are fundamental for a good life: continual learning and service (choosing the cause you want to fight for, no matter what it is, there are rarely "right" or "wrong" causes you can serve)

1. Losing sight of dreams and falling into work for work’s sake (W4W)
2. Micromanaging and e-mailing to fill time
3. Handling problems your outsourcers or co-workers can handle
4. Helping outsourcers or co-workers with the same problem more than once, or with noncrisis problems
5. Chasing customers, particularly unqualified or international prospects, when you have sufficient cash flow to finance your nonfinancial pursuits
6. Answering e-mails that will not result in a sale or that can be answered by a FAQ or auto-responder

1. Working where you live, sleep, or should relax
2. Not performing a thorough 80/20 analysis every two to four weeks for your business and personal life
3. Striving for endless perfection rather than great or simply good enough, whether in your personal or professional life
4. Blowing minutiae and small problems out of proportion as an excuse to work
5. Making non-time-sensitive issues urgent in order to justify work
6. Viewing one product, job, or project as the end-all and be-all of your existence
7. Ignoring the social rewards of life