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Posted: 2018-11-08 11:00:00

This book forced me to look at money through a totally new lens.

Ever since Your Money or Your Life was published 25 years ago, it has been changing lives. The bestselling book by Vicki Robin and Joe Dominguez showed people the way to financial independence and greater happiness through simpler living, debt repayment, aggressive saving, and how to put that capital to use to become a reliable income source that allows one to step out of wage-paying work and into other pursuits.

I recently sat down to read the revised edition for 2018, which includes a foreward by Mr. Money Mustache. While I like to think I have a pretty good handle on financial matters – and am extremely fortunate to have a paid job that aligns with my personal interests – there's always room for improvement, particularly when it comes to understanding how to create and live off passive income streams.

What I wasn't expecting was such a deep philosophical dive into the way our society works and a blatant challenging of these norms. Robin presented 9-to-5 work culture in a light that was both discomfiting and enlightening. A few concepts stood out in particular, which I'll share below. (NB: Robin recommends that a full initial reading be done before going back to implement any of the nine steps of her program.)

1. Your hourly wage isn't your true hourly wage.

Think about how much you earn per hour. Now add up all the associated costs that enable you to perform your job to the level that you do. This includes car/transportation costs, professional wardrobe, hair and aesthetics, business lunches, coffee breaks, time spent decompressing after work or sitting in traffic jams, toys and vacations to compensate for job stresses, massages, therapy appointments, the cost of hiring help to run household in your absence, escape entertainment and substances, etc.

When you add these up and divide them by the number of hours spent doing them, you subtract that from your hourly wage to get your real hourly wage. Suddenly,

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