Living the 80/20 Way, by Richard Koch — Book Summary
A summary of the book Living the 80/20 Way, by Richard Koch and how we’ve implemented it in our lives.
Living the 80/20 Way: Work Less, Worry Less, Succeed More, Enjoy More:
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Focus on the few things that give the greatest reward, with the least effort.
3 Step Process
- Focus on your 80/20 Destination
- Find your 80/20 Route
- Take 80/20 Action
5 key areas
- Your Self
- Work and Success
- Simple, Good Life
- Who do you want to become/do?
Work and Success
- What tasks do enjoy? What job would make you happy?
- Wealthiest 20% of the population owns 85% of the wealth.
- Be specific about your money destination.
- The route could be to automatically transfer 10% to savings each month
- 80% of your satisfaction comes from 20% of the people you know.
- Ask your partner and loved ones what top few things you can do to make them happy.
Simple, Good Life
- Happiness doesn’t come from what we buy. It comes from how we spend our time.
- Create a chart with Happiness on one axis and money spent on the other. Spend most of your time on things that bring a high amount of happiness at a low cost.
Have you read Living the 80/20 Way? Let me know what you thought of it in the comments below.
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George Choy & Sarah Choy (Financially Free at 39)
By George Choy & Sarah Choy | 12 June 2020