Archive for May 20th, 2008

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Three Ponds in Bridgehampton, New York has crossed my radar before (it’s hard to miss a home with a price tag like this) but I’ve never featured it as an estate of the day. The estate offers 60 acres of farmland in this prime part of New York. The grounds includes a golf course, English cottage garden, a crabapple allee, a lily walk, vegetable gardens as well as hydrangea, butterfly and rose gardens, swimming pool with a pavillion, grass tennis court and of course, three ponds. Other features include two three-car garages, a two-story pro shop, 2nd flor glof club with a bar, separate staff quarters, a three-bedroom guest house, an orangeries, barn and other outbuildings. The 20,000 square-foot main house has seven bedrooms and 12 baths.

This home has been on the market since 2003 when it was listed at $75 million. It’s been on the market for $68 million for a while. Why no sale? In 2006 Steven Gaines writing for NY Magazine speculated that the homes distance from the ocean and location near a busy area count against it. At the time the article stated that “whoever does write the check will probably pay half the asking price.” It’s been two years since then and while the price has come down it’s nowhere near half. I have to wonder if this property’s big amount of land works against it. A full 18 hole golf course and all those gardens require a huge amount of maintenance especially for a home that may not be a full-time residence.

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In the first installment of this series, I talked about defining work and streamlining my email habits. In the second part, I talked about outsourcing and applying the 80/20 rule. This day I’ll discuss my schedule experiments and geoarbitrage.

Step 5: I conducted schedule experiments.

The main thing that drove my schedule experiments was reading this article from Web Worker Daily. What really struck me was this quote from Roald Dahl:

It suits me to begin rather late. I start at 10 o’clock and I stop at 12. Always.

Source: WebWorkerDaily

This gave me the idea to find my “peak working hours“, the hours when I felt most productive. For a week I experimented with different schedules and identified what my major timesinks were. RescueTime helped me identify the timesinks, but the rest was up to me.

After seeing how I worked in different times throughout the day, I realized that I accomplished more when I worked at 3:00 am after sleeping early at night. This was for the following reasons:

  • The neighborhood was more quiet since no one was up yet. The construction site in front of my home and the kids playing in the street make so much noise later in the day.
  • The temperature was just right. I live in the Philippines, where it can get really hot from 10am to 2pm. It’s hard to work when the temperature is 35 degrees Celsius (95 degrees Fahrenheit).
  • I wasn’t started with my day yet. If I worked after I made lunch, did the laundry, etc., I’d have less energy and enthusiasm to go through it.

I also realized that I worked superior when I used timeboxing. This helps me focus on work (and only work) during my working hours. To help myself focus, I didn’t check email or open my RSS feed reader until I was done working.

Once I defined my working hours (3:00 am to 6:00 am) and working days (Mondays to Wednesdays), I defined how I’d distribute my work tasks among those days. I tried to include some variety, and made sure that I didn’t write two articles for the same publication or website on the same day.

Geoarbitrage and Frugality

This section isn’t a step, because they describe situations and values that I already had with me before I went on this insane 9-hour workweek experiment. They might not be steps that I took, but they were integral to making the whole thing work.
Geoarbitrage is something that Tim Ferriss spent several pages discussing in The 4-Hour Workweek (which, in case you forgot, is the basis of this tiny experiment).  It basically means that you find the ideal place in the world that can give you the ideal value for your needs.  In this case, value means a combination of low price and good quality.

I’ve mentioned several times that I lived in the Philippines.  I love it here, and while it’s not perfect, I don’t want to live in any other country.

A funny thing about the Philippines, a US Dollar converts to around 40 Philippine Pesos here.  What does that mean?

Well, based on some swift research I did, a Massive Mac costs $3.49 to $3.75 in the US.   Here, it costs PhP 87.00, which, when converted to dollars, is roughly $2.18.

I live a pretty good middle class life that costs roughly $375 to $500 per month to maintain.  This includes utilities and living expenses.  I’ve 2 dogs, 2 cats, a rooster, and I’m supporting 3 extra people in my house (I’m the head of the household).

Of course, it helps that I’m very frugal.  I’m the type who purchases things in bulk and doesn’t spend on frivolities just because I can. I believe that my frugality plays a big part in keeping my lifestyle in check and making sure that I’ve enough for financially difficult times.

Just because I’m frugal, it doesn’t mean I’m a cheap penny pincher who doesn’t enjoy her money.  I have some hobbies that cost money - model-building, comics, and art.  I also travel a tiny and buy good food.  However, I always aim for a balance.  There’s such a thing as enjoying your money too much.

If moving to a country with a lower standard of living is too drastic for you, then go for the next ideal thing.  Find a city or state that has a lower standard of living.  These areas tend to be the more rural areas.  You can also look for work from international sources that allow you to work from home and pay you in a higher-performing currency.

Note that I’m not telling you to give up your current lifestyle, I’m just saying that your current lifestyle might be maintained at a lower price elsewhere.

Although this doesn’t conclude the 9-hour workweek series, this installment defines the last steps I took.  In the next post for this series, I’ll discuss the problems I am facing with the 9-hour workweek.

Photo Credit: Images by Zeth Lorenzo and Sophie from sxc.hu

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Photo by Scott Frances / Esto

Every edifice ever built by rationalist architect Richard Meier — and then some - is featured in a new mega monograph about to be published by Taschen: Richard Meier & Partners: Complete Works 1963-2008. The extra-large $150 volume showcases Meier’s entire career to date, including such stunning commissions as the Getty Center in Los Angeles, the City Hall and Library at the Hague and the beauteous Southern California beach house pictured above. Meier, one of the world’s top architects - or “starchitects” as he and a select few of his contemporaries such as Frank Gehry and Rem Koolhaas are known - has an insatiable appetite for large swaths of white, but it works (to state the least). Meier will be at Taschen’s New York store to sign copies on June 3rd from 6 - 8 p.m. You can preview the book in the gallery below.

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littleoldwinemaker_nc.jpgAre Baby Boomers wine drinkers? Or are they beer drinkers? How many Baby Boomers are in the wine-making business?

During my pre-children years, my husband (now ex-) and I decided to be wine makers. We took a course, purchased all the stuff, hooked it all up, and put in all the ingredients (we mostly were making fruit wines, as I remember). After the appropriate amount of time we tried it. It was only marginally drinkable, of course. We sold the wine-making stuff in a garage sale a few years later.

A post on a wine blog site about the death of Robert Mondavi got me thinking about the wine business. It seems to be booming, not only among boomers, but especially Millenials (21 to 30 year olds, the age of my children). A recent (November 2007) Neilsen study was discussed about the attitudes toward alcoholic beverages by the various generations. Millenials prefer beer to wine. I’m not surprised; my children and their friends definitely drink more beer than wine.

The study also stated that “economy” beer purchases are more common among “older” buyers. Does that mean Baby Boomers prefer cheap beer?

Whatever happened to that little old wine-maker, anyway? Are you a wine-maker, wine-drinker, beer-drinker?

Image source: www.newscom.com 

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