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:
Buy on Amazon: https://amzn.to/3gjUgN6
Scroll down for the show notes and to watch or listen.

KEY TAKEAWAYS

Focus on the few things that give the greatest reward, with the least effort.

3 Step Process

1. Focus on your 80/20 Destination
2. Find your 80/20 Route
3. Take 80/20 Action

5 key areas

1. Your Self
2. Work and Success
3. Money
4. Relationships
5. Simple, Good Life

Your Self

• Who do you want to become/do?

Work and Success

• What tasks do enjoy? What job would make you happy?

Money

• 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

Relationships

• 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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Best wishes, George Choy & Sarah Choy
Property Investors & Financial Freedom Experts

By George Choy & Sarah Choy | 12 June 2020