Book SummaryDie With Zero, by Bill Perkins

Book Rating by Shortform Readers: 4.7 (88 reviews)

According to hedge-fund manager and energy trader Bill Perkins, your goal should be to die with zero dollars in your bank account because you’ve used all your money to lead the fullest possible life. Perkins explains that people generally tend to over-save and under-experience, but at the end of our lives, we’ll actually value experiences more than the money we saved. In Die With Zero, he proposes a strategy for maximizing enriching experiences throughout your life and minimizing unspent funds.

Perkins gears his book toward an audience with disposable income whose earnings will likely continue to grow over time. He acknowledges that his advice isn't a substitute for a professional financial planner, and he focuses on big-picture spending and saving principles rather than specific financial advice. We’ll supplement Perkins’s recommendations with other financial advice and alternative views on how to make the most of your wealth.

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In Die With Zero, hedge-fund manager and energy trader Bill Perkins argues that experiences and relationships are what give your life meaning. Therefore, you should aim to invest all your money in enriching experiences and relationships before you die.

To do this, you must be cognizant of whether your spending and saving habits are facilitating or hindering your...

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Die With Zero Summary Why You Should Spend All of Your Money By the Time You Die

For Perkins, saving money you’ll never spend means sacrificing the value that money could have added to your life. First, we’ll discuss Perkins’s ideas about why saving for the sake of saving shouldn’t be your default financial plan. Then we’ll look at what he suggests spending your money on instead: facilitating enriching experiences and advancing the causes and relationships you care about.

Saving Money Might Be Costing You Experiences and Relationships

Perkins questions the wisdom of saving as much money as possible for the sake of saving. He advises you to ask yourself whether the money you’re saving from your job is worth what you’re giving up to save it. This sacrifice might be the hours you could have spent doing something you enjoy more than working or the money you could have spent on an enriching experience or humane cause.

For example, suppose you’re working a high-paying job that allows you to save lots of money but makes you miserable or causes you to miss out on the experiences you’d like to have. In that case, it might be worth considering a different job that pays less but leaves you more time to enjoy yourself.

(Shortform note: The authors...

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Die With Zero Summary How to Spend All Your Money by the Time You Die

Now that we’ve explored Perkins’s argument for why you should spend all of your money by the time you die, we’ll look at his advice on how to do so strategically and responsibly. We’ll break his recommendations into three sections, all of which revolve around proper timing: spend while you’re young, plan your long-term spending trajectory, and spend on the ‘right’ things at the right time.

Spend While You’re Young

Perkins writes that one good way to die with zero is to spend more money when you’re young. If you don’t invest in experiences while you’re young, you risk missing out on many of the best moments in your life. For Perkins, forgoing experiences when you’re young just to save money is illogical. You might not get the chance to have those experiences again, and they won’t be the same when you’re older. For instance, your 25-year-old self might be thrilled to go skydiving, while your 65-year-old self might not be.

(Shortform note: It’s true that some experiences are best enjoyed—and purchased—at a young age: Studies show that [our bodies begin to decline in strength, endurance, and balance in our...

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Shortform Exercise: Evaluate and Adjust Your Attitude Toward Saving and Spending

Reflect upon how well you currently balance saving money and spending money on meaningful life experiences. Consider if you might need to shift the balance toward either spending or saving.

Do you feel you currently balance saving money with enjoying fulfilling life experiences? Or do you feel you prioritize one over the other? Briefly describe your attitude toward saving and spending and note if you think this attitude is serving your overall happiness.