Die With Zero: Getting All You Can from Your Money and Your Life (Summary)
Imagine working your entire life, diligently saving for a comfortable retirement, only to die with millions in the bank. Most people would call this a success. Bill Perkins calls it a tragedy—a failure to convert your hard-earned money into the one thing you can't get more of: life experiences. The goal isn't to die rich; it's to die with zero after a life full of rich memories.
Experiences Pay 'Memory Dividends'
Unlike material goods that depreciate, experiences appreciate over time. An investment in a memorable experience pays 'memory dividends'—the joy, stories, and identity-shaping value you get from recalling it for the rest of your life. The earlier you invest, the longer you collect these dividends.
Spending $3,000 on a backpacking trip through Southeast Asia at age 25 yields decades of stories, fond memories, and personal growth. Waiting to take that trip at 65, if you're even able to, means you only get to enjoy the memories for a much shorter period. The net enjoyment from the earlier trip is vastly higher.
Plan Your Life in 'Time Buckets'
Your life isn't a single, monolithic block of time. It's a series of distinct decades or 'time buckets'. Certain experiences are only possible, or are far more enjoyable, in specific buckets due to your health, energy, and freedom. You can't save all your living for one 'retirement' bucket.
A physically demanding, multi-day hike in the mountains is an experience best suited for your 20s or 30s. Taking a year-long sabbatical with your family is best done when your kids are young. You must intentionally plan which experiences fit into each of life's buckets, because you can't go back.
Give Money When It's Most Impactful
The best time to give money to your kids or to causes you care about is while you're still alive, not in a will. This allows you to witness the joy and impact of your gift, and the money is often far more useful to the recipient when they are younger.
Giving your child $50,000 for a down payment on their first home in their early 30s can be life-altering. That same $50,000 inherited at age 60, when they are likely at their peak earning years and already financially stable, has a fraction of the impact.
Your Fear of Zero is Your Biggest Risk
Most people are terrified of running out of money, so they massively over-save for a worst-case scenario that rarely materializes. The real risk isn't dying broke, but dying with a surplus of money and a deficit of life experience.
Perkins points out that personal spending naturally declines significantly after age 75. People fear needing vast sums for late-life medical care, but often overestimate this. By sacrificing experiences in your vibrant 50s and 60s for a fear of running out of money in your 90s (when you can't spend it anyway), you are trading guaranteed enjoyment for an unlikely insurance policy.
