Bill Perkins

What are you working for? I have this conversation with John. He's like, what's the money for? What can't you buy? And to a certain extent, the money became a detriment based on your value system, right?

If you're like, hey, and I mentioned this book, yeah, I can have Maroon 5 play in my backyard every day, et cetera, but you don't want to ruin your kids by spending the money and consuming it that way. And I'm using the Maroon 5 as an exaggerated example, but there's all kinds of consumption

If you're like, hey, and I mentioned this book, yeah, I can have Maroon 5 play in my backyard every day, et cetera, but you don't want to ruin your kids by spending the money and consuming it that way. And I'm using the Maroon 5 as an exaggerated example, but there's all kinds of consumption

that you don't want to have because you don't want your kids to have that, then the money became a negative. You really work too long for, because you're working for money that you cannot spend, you cannot consume. And you could start giving it away and having an impact on the other things you want to do now.

that you don't want to have because you don't want your kids to have that, then the money became a negative. You really work too long for, because you're working for money that you cannot spend, you cannot consume. And you could start giving it away and having an impact on the other things you want to do now.

What they're doing is effectively giving away. They want to solve problems, database the decisions.

What they're doing is effectively giving away. They want to solve problems, database the decisions.

They're immediately jumping into the problem and let the experiments run the course and they have the time to do it. They're doing it. I can't say enough about the Laura and John Arnold Foundation, about the way they're going in and helping people and solving problems.

They're immediately jumping into the problem and let the experiments run the course and they have the time to do it. They're doing it. I can't say enough about the Laura and John Arnold Foundation, about the way they're going in and helping people and solving problems.

The same laws of physics that govern my body and the utility of money over time for me applies to my kids. Maybe they have a little bit longer lifespan or health span.

The same laws of physics that govern my body and the utility of money over time for me applies to my kids. Maybe they have a little bit longer lifespan or health span.

Relatives or anybody, anybody. The utility of money to them follows a curve, depending on how healthy they are, et cetera. You can just kind of draw it, right? Like you know better than I. Muscle decay rates for people in shape, not in shape, working out, et cetera. So this curve applies to them.

Relatives or anybody, anybody. The utility of money to them follows a curve, depending on how healthy they are, et cetera. You can just kind of draw it, right? Like you know better than I. Muscle decay rates for people in shape, not in shape, working out, et cetera. So this curve applies to them.

So a lot of people are like, oh, when I die, I'm going to give – I used to have people in my will that are like close to my age. I'm going to give money to them when I die. And I'm like, wait a minute. I'm going to give my money to a 72-year-old. Wouldn't it be better if I gave them less money now? Let them spend it and apply it because the utility of money for them is drastic.

So a lot of people are like, oh, when I die, I'm going to give – I used to have people in my will that are like close to my age. I'm going to give money to them when I die. And I'm like, wait a minute. I'm going to give my money to a 72-year-old. Wouldn't it be better if I gave them less money now? Let them spend it and apply it because the utility of money for them is drastic.

The day before you die, I cannot pay you anything. I cannot get you to delay gratification. That's what savings is, right? You're delaying gratification. And so there is no gratification the next day. If you Take it from the day before you die, two days before you die to right now, right? There's this curve, this compensation you need for delayed gratification.

The day before you die, I cannot pay you anything. I cannot get you to delay gratification. That's what savings is, right? You're delaying gratification. And so there is no gratification the next day. If you Take it from the day before you die, two days before you die to right now, right? There's this curve, this compensation you need for delayed gratification.

where they'll have the most utility of that money. And so when you're off autopilot and think, yeah, that's what everybody does. They write down a will and when they die, et cetera. Now the will has a purpose. If you die early, you got to distribute the money. But really before you die, if you'd live a normal life, there should be nothing left to give. You should have already given it away.

where they'll have the most utility of that money. And so when you're off autopilot and think, yeah, that's what everybody does. They write down a will and when they die, et cetera. Now the will has a purpose. If you die early, you got to distribute the money. But really before you die, if you'd live a normal life, there should be nothing left to give. You should have already given it away.

I've had that. I had a good year and there was people that I would give money to if I had a good year or I'm not going to wait until I'm dead or there are people in my will. And I just went down a list and the maximum tax-free gift you can give per year per person is $15,000. And I had, I think, a 30 to 50 person list of $15,000 to give to people. And this was me reading my own book.