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DIE WITH ZERO - Getting All You Can From Your Money and Your Life

About this book: A WALL STREET JOURNAL BESTSELLER A Common-Sense Guide to Living Rich….Instead of Dying Rich Die with Zero presents a startling new and provocative philosophy as well as practical guide on how to get the most out of your money—and out of your life. It's intended for those who place lifelong memorable experiences far ahead of simply making and accumulating money for one's so-called Golden Years. In short, Bill Perkins wants to rescue you from over-saving and under-living. Regardless of your age, Die with Zero will teach you Perkins' plan for optimizing your life, stage by stage, so you're fully engaged and enjoying what you've worked and saved for. You'll discover how to maximize your lifetime memorable moments with "experience bucketing", how to convert your earnings into priceless memories by following your "net worth curve", and find out how to navigate whether to invest in, or delay, a meaningful adventure based on your "spend curve" and "personal interest rate". Using his own life experiences as well as the inspiring stories and cautionary tales of others—and drawing on eye-opening insights about time, money, and happiness from psychological science and behavioral finance —Perkins makes a timely, convincing, and contrarian case for living large.

Edited at 2020-10-08 03:49:42

Second Hand Poet

DIE WITH ZERO - Getting All You Can From Your Money and Your Life

Second Hand Poet

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Outline

DIE WITH ZERO Getting All You Can From Your Money and Your Life

Rule #1 – Maximize positive life experiences

Don't wait until you retire to start doing stuff you like. Start actively having the life experiences you want to have now. Have lots of meaningful and memorable experiences.

Rule #2 – Invest in experiences early

Your life is the sum of your experiences, and when you look back you'll remember the richness of those experiences. Plan the experiences you want to fit in and start now.

Rule #3 – Aim to die with zero

Ideally, you should aim to die with zero – having spent your money on having great personal experiences, taking care of your family, and leaving a legacy. That's the aim.

Rule #4 – Use all available planning tools

You don't know exactly when you will die, but there are tools available which will give you a rough idea of what your life expectancy is. Use those tools as part of your planning.

Rule #5 – Give money to kids/charity early

Give your children whatever you have allocated for them before you die. There's no point in waiting until you're gone. That way you can give when it has the most impact on their lives as well.

Rule #6 – Don't live life on autopilot

There are no universal laws when it comes to personal finance and balancing competing demands. Don't live on autopilot, be prepared to make constant, personalized changes.

Rule #7 – Plan in terms of seasons

We all die eventually, and you'll pass through several stages or seasons before then. Make sure you plan your experiences accordingly, rather than blithely assuming you'll go forever.

Rule #8 – Know when to stop

There is an optimal point at which you should stop working for maximum lifetime fulfillment. Figure out what that is before you blow right past it. Nobody on their death beds wishes they had spent more time at the office.

Rule #9 – Take big risks early, not later

The younger you are, the more risks you should be taking, and the bolder you should be. Identify opportunities that pose little risk and go for it. You won't be able to do this once you get older.