In this episode, Grant discusses billionaire Carlos Slim’s suggestion for a 3 day work week at 11 hours per day with retirement after 70.
You know what Carlos Slim believes
1) You don’t want freedom you want comfort
2) You won’t do what it takes to get rich
3) You are a slave and he is the master
Grant shares stats from an article showing that:
In 1800’s work time for the average English worker was 64 hours a week.
In the 19th century you could tell how poor somebody was by how long they worked.
In today’s advanced economies things are different.
Overall working hours have fallen over the past century. Average person works 34 hours a week.
The rich began to work longer hours than the poor since economic collapse.
Grant’s opinion is that the rich are paranoid, do not want to be poor and work to prosper and dominate in their space. They look at downtime (vacation, days off) as a danger to their business and goal of true freedom.
Figures from the American Time Use Survey, show that Americans with a bachelor’s degree or above work two hours more each day than those without a high-school diploma.
WHY? ARE EDUCATED PEOPLE WORKING ALMOST 30% LONGER THAN UNEDUCATED?
The rich, it seems, are no longer the class of leisure.
• THE RICH DON’T WORK THEY DOMINATE
• THEY OCCUPY THEIR ENVIRONMENTS
• THEY ARE SCARED OF BEING POOR
• THEY ARE OPPORTUNIST
• THEY WANT TO BE RICH AND THEY MAKE IT WORTH THEIR WHILE!
WORK LIKE RICH PEOPLE – Rules of success
1. GO TO WORK TO PROSPER
2. Dominate your space don’t neglect it — NEVER LET ANYONE HAVE A MOMENT
3. RICH PEOPLE AREN’T WORKING THEY ARE TRYING TO GET RICH —STAY RICH AND GET RICHER
1980’s a man working 55 hours a week earned 11% more than a man putting in 40 hours. TODAY THE gap has increased to 25% A study in 2006 revealed that Americans with a household income of more than $100,000 indulged in 40% less “passive leisure” (such as watching TV) than those earning less than $20,000.