Die With Zero? Watch This First.
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What is Die With Zero and why is it trending in personal finance?
The book Die With Zero keeps coming up. Watch this first. Brian, I am so excited to talk about this. Even though this book has been out for a while, I still feel like it's very much out there in the zeitgeist. Like it's out there. People are talking about it and people are thinking, okay, should I take what's in this book? Should I be using the things that are in this book? And should I allow it to inform and change the way I think about my personal finances?
Yeah, it's come up multiple times on our show, Making a Millionaire. I want to go ahead. I want everybody to stay until we give the final word on this because I think I have the perfect bead that's going to bring this all together. And I think this is one of those things where I'm going to share with you. I like the book. I like the premise of the book. I just have a few asterisks of concern. And I think once I share, open the curtain and share with you what this book is great at and what the issues with this book, you're going to start to see the full picture with other great books that also, because it's one of the things, we live in the same neck of the woods as like Dave Ramsey.
Yeah.
Dave wrote a great book in the 90s called The Total Money Makeover, but it has issues. And like I said, if you stick with me as we go on this journey, I'm going to put this all together and wrap it up with a nice bow where you can kind of see how you need to apply all of these great books to your financial life.
So for those of you who are unfamiliar, maybe this is the first time that you've heard of this. There's a book called Die With Zero written by Bill Perkins, and it was actually released a number of years ago, back in 2020. And it kind of set the financial world on fire. Not that there were any like really like new crazy concepts, but the way that he distilled the concepts and laid them out, I think caught a lot of people's attention. And it resonated with a lot of people of, oh, I I like that. I like the way that sounds. I like what that says. And so we thought perhaps it'd be helpful to go through some of the key principles that he lays out in the book.
Well, think about it. Every financial book is telling you lean in on discipline, live on less than you make. We fall into that camp of things. And then you have this book come out when big, bright letter says, die with zero. You're like, wait a minute, that means I can go spend more? That is appealing, because instead of being brake pedal, it's definitely the gas pedal or accelerator, and that gets people excited.
So here are some of the key principles. Number one that's in there is this idea around memory dividends. The fact that experiences that you have earlier in life or even in the time of life that you're having them can keep paying emotional returns, emotional dividends for years and years and years to come.
Yeah. And we talk about, I mean, even in my book, I've shared blossoming memories because what I love about memories is it's so much better than stuff is that even stuff that are bad memories or difficulties can blossom into key things eventually. that actually are good in the long term of the way you remember it. And that's why we love creating memories with your family, your friends. They definitely pay dividends.
Another principle that Bill talks about is this idea around time buckets, that there are certain experiences that are best done in certain seasons of life and not all seasons of life are equal. So the experiences that you ought to have at each of those seasons isn't exactly the same.
Well, if you think about time, health, And then money is all your resources. It is kind of unfair in life is that when you're the most vibrant, when you're healthy, you're broke as a joke. And then when you're loaded, you're probably not healthy enough and you don't have the time to do everything you want to. So I actually love how Bill was able to really draw attention to is that there is definitely a moment in time to maximize this resource of money.
And then he walks through that even as we age and as the life transition takes place, that retirement spending changes.
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Chapters
6 chapters
1
What is Die With Zero and why is it trending in personal finance?
0:06–13:03
2
How does the book define memory dividends and why do experiences matter?
13:03–17:35
3
What are time buckets and when should you spend for peak life experiences?
17:35–20:00
4
How should you weigh 'giving while living' versus leaving a legacy?
20:00–35:10
5
What are the main risks of following Die With Zero too aggressively?
35:10–45:55
6
How does compounding and the wealth multiplier change the advice for young people?
45:55–59:26