Die With Zero – Bill Perkins

In my article “Die With Zero – Bill Perkins”, I provided an in-depth summary of the book.

However, for those who prefer a quick recommendation. This post explains why you should consider reading this thought-provoking book.

What Does Financial Freedom Mean to You?

• Are you focused on accumulating wealth or experiencing life?
• When should we give to charity?
• Throughout our lives or by leaving behind a large sum after we pass?
• How balanced is your life right now?

In “Die With Zero“, Bill Perkins answers these questions with striking mathematical examples.

As an engineer, I particularly enjoyed the graphs and mathematical explanations in the book.

As they made it very easy for me to grasp the main idea.

When I read the book, I realized that, like Bill Perkins, I also have a mindset that focuses on experiencing life while building wealth.

Thanks to this book, I now know how much wealth I need and what experiences I want to have before I “die with zero.”

Rethinking Financial Freedom

The concept of financial freedom has gained significant popularity, especially after the pandemic.

There are many investment tools and various financial concepts related to it.

Most of them emphasize saving and investing at the cost of sacrificing many experiences while you’re young.

They suggest accumulating as much money as possible for the so-called “golden years” of retirement.

In a way, they are right. Yes, we will need money, especially for healthcare, in retirement.

But if you think you’ll just enjoy your wealth and travel the world after retiring at 60-65.

You might be mistaken!

The book invites you to look at this issue from another perspective.

The Retirement Trap: A Life Half-Lived

Imagine you join a tour after retirement to visit new places.

However, due to knee pain, you can’t walk as much as you’d like.

Because of stomach issues, you can’t eat and drink the way you wanted.

You spend most of the trip watching from a tour bus. And fall asleep as soon as it gets dark.

That doesn’t sound like the dream experience you envisioned, does it?

This is where “Die With Zero” emphasizes the importance of living a balanced life.

Because no matter what, when we grow old, we will remember not the wealth we accumulated.

But the experiences we had.

And these memories continue to bring us joy throughout our lives.

Take a moment to talk to elderly people around you.

They all love to share their life experiences.

And notice how happy they are when they do.

For this reason, even though “die with zero” might seem impossible, the book argues that we should base our financial planning on this idea.

It provides a simplified calculation method for this.

It explains how to determine the wealth you need based on your expected lifetime.

And how much you can spend accordingly.

Planning for Life, Not Just for Death

You might ask, “But shouldn’t we leave something for our children?“

The book addresses this question as well.

Bill Perkins responds with a very powerful question:

“Why are you waiting until you die to leave something for your children?”

And he adds: “Instead of waiting, give your children their inheritance when they actually need it, ideally between the ages of 26-35.”

You might think that your children won’t be able to manage this wealth wisely.

But they may not manage it well even after you pass away.

So, giving them their inheritance early allows you to guide them in managing money.

I had originally planned to give my son access to the investment account my wife and I set up for him when he turned 18.

After reading “Die With Zero”, I realized I actually shared the same mindset as Bill Perkins.

However, I decided to delay it slightly and give him access between the ages of 23-25, after finishing university.

Don’t wait until your death to distribute your wealth, either for your children or yourself.

The Value of Experiences at Different Life Stages

“Die With Zero” also provides recommendations based on age groups.

It highlights the benefits of making a time bucket list.

Where you outline the experiences you want to have at different stages of your life.

This step is crucial for gaining clarity on what experiences you truly want to have.

Over the years, your desired experiences may change.

Or you might want to relive certain ones multiple times.

Breaking the Saving Habit

According to Bill Perkins’ simulations, the peak savings period is between the ages of 45-60.

After this point, you should start tapping into your savings.

Of course, this is easier said than done.

Studies show that even after the age of 70, people struggle to break their saving habits. And the book illustrates this clearly.

For those in their 20s, “Die With Zero” strongly encourages taking bold steps and seizing opportunities.

Failures at this stage turn into valuable lessons and are easier to recover from.

Giving While You’re Alive

When it comes to charity, the book explains that giving regularly throughout your life has a much greater psychological impact than leaving a large sum after you die.

Rather than donating a fortune after you’re gone, consider how you can make a difference in the lives of others today.

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“Die With Zero” talks a lot about death, which might feel uncomfortable.

However, death is a major trigger for action.

The idea of dying with zero may sound terrifying.

But in reality, any wealth we accumulate has no value once we’re gone.

When we close our eyes for the last time, we won’t remember how much money we had.

We’ll remember the beautiful moments we lived.

To collect more of these precious moments, we should live in the present. While also planning our future in a balanced way.

Reading this book will significantly broaden your perspective on financial life.

“Die With Zero” will challenge your beliefs about wealth, retirement. And the true value of experiences.

If you’re ready to rethink your financial strategy and focus on what really matters. Than this book is a must-read!