Book Review: Die With Zero

 

As I approaches the mid-point of my 40s, I start to ponder about the directions I'm taking in my life and I chanced upon this book. One of the biggest takeaway I got from this book was to try and think of life as a journey to collect memory dividends. Money is still necessary but it is not worth living if we end up without any of those memories in life.

Another key takeaway is to help the children when they are between 25-35, and not when I die, because that's the period in life when they will get the most help and appreciate the monetary support. If I were to live till 80-year-old and give them the inheritance then, they will probably be richer than me by then and the inheritance is just to finance a fancy holiday for them.

Summary by ChatGPT:

"Die with Zero" by Bill Perkins is a personal finance and life philosophy book that encourages people to maximize life experiences rather than just accumulate wealth. Here's a concise summary of its core ideas:

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💡 Key Principles from Die with Zero

1. Spend money on experiences, not just saving

• Perkins argues that saving excessively without enjoying life defeats the purpose of earning money.

• Invest in meaningful experiences while you’re healthy enough to enjoy them fully.

2. Time your spending to match your life stages

• In your 20s–30s: prioritize adventure and learning.

• In your 40s–50s: focus on family, legacy, and meaningful relationships.

• In your later years: shift toward giving back and managing health.

3. Don’t delay joy

• Traditional advice says: work hard now, enjoy later. Perkins flips that—some experiences lose value if delayed too long.

• Example: A backpacking trip at 60 doesn’t hit the same as at 25.

4. Memory dividends

• Experiences pay “memory dividends”—replaying joy through memories, which grow over time, unlike money.

• These dividends increase your long-term happiness more than material possessions.

5. Give while you're alive

• Don’t wait to give money to your kids or causes after you die. Give when it’s most impactful—when they need it, not when you’re gone.

6. Plan to die with zero

• Optimize your spending to reach zero net worth at the end of your life.

• This means deliberate, thoughtful spending, not reckless waste.

7. Avoid over-saving from fear

• Many people die with large unspent fortunes, driven by fear of running out.

• Smart planning (insurance, annuities, etc.) can address this without hoarding wealth.

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📘 Final Message

“The goal isn’t to live forever, but to fully live while you’re here.”

Bill Perkins’ message is a radical reframe of money management: Don’t let fear or convention rob you of living a rich, experience-filled life.

My Rating: 

Buy the book here: Die With Zero (Amazon)