Die with zero

Stravaiger · Post by **Stravaiger** » Tue Jan 30, 2024 6:57 pm

This is a five minute summary of the ideas in Bill Perkins' book Die With Zero which argues that a good life is not one entirely focused on accumulating wealth

His philosophy is essentially predicated on the remark often attributed to Errol Flynn that Any man who dies with more than $10000 to his name is a failure.

It may have some resonances with the lifestyles of some here.

More detail in this interview with Peter Attia

In particular I thought his views on self insurance were interesting. Not much point at age 70+ having $100k in the bank in case you need serious medical attention. Although he may be underestimating the costs and difficulties of obtaining good health insurance towards the end of life.

Their discussion of philanthropy is interesting, and the weird selfishness of leaving money to others only after you are dead and won't be needing it any more.

Not posted in Business and Finance because 'it's not about the money'.

Ghostwriter · Post by **Ghostwriter** » Tue Jan 30, 2024 7:10 pm

For many, to die without debts would be a good enough start^^

Alex · Post by **Alex** » Tue Jan 30, 2024 9:20 pm

Knowing your exact date of death would be incredibly helpful to plan this properly.

newkidontheblock · Post by **newkidontheblock** » Tue Jan 30, 2024 9:32 pm

Ghostwriter wrote:For many, to die without debts would be a good enough start^^

As long as it isn’t health care or nursing home care, the other major expense that can happen is burial arrangements.

The burial can be prepared for.
Healthcare and nursing home care are the big unknowns.

That being said, the Asian mentality is to pass along inheritance to the next generations.

My opinions, of course.

BklynBoy · Post by **BklynBoy** » Tue Jan 30, 2024 9:53 pm

I admit not watching the video but based on the comments. What about leaving something for your children?? generational weatlh? passing something down financially to help them?

There gotta be some middle ground to enjoying your money and what it can bring you personally and giving to your family/children. You can say that its the same no? Wouldn't you want to be able to help your children get a leg up?

I watched the 5 minute summary and that's cool about giving to your kids at ages 26-35 but it may be unrealistic. at 26-35 I was no where near appreciative as I am now AND my father wasn't in the financial situation he is in now-- meaning much better now.

Guess I am taking this video way to personally lol

yongchi · Post by **yongchi** » Tue Jan 30, 2024 11:03 pm

BklynBoy wrote: ↑Tue Jan 30, 2024 9:53 pm I admit not watching the video but based on the comments. What about leaving something for your children?? generational weatlh? passing something down financially to help them?

That is a very good point, IMO.
For example, don't some assets lose most of their risk if held for very long periods of time? For example, how about a broad market ETF on the MSCI World or something similar in an inter-generational portfolio?
Someone has to start it.

reggie perrin's dad · Tue Jan 30, 2024 11:43 pm

I doubt this will to apply to me (not likely I'll be fighting to spend any fortune before I throw a seven), but what's wrong with having a few bucks in the bank?

If I drop dead at 60, my kids can have the cash and if I keep on rocking for a few years, I can do cool stuff and retire without fretting about money, healthcare etc etc every day.

Without watching (or wanting to) sounds like idealistic bullshit to me.

Save some cash if you can. Life or death will be easier for everyone you love!

YouTube · Post by **General Mackevili** » Wed Jan 31, 2024 2:37 am

Trying to die with LESS than $10K in the bank is about the dumbest goal I've ever heard of.

That said, if his overall message is 'don't waste your limited time on Earth accumulating more wealth than you and your family could use,' then I can say he has a point that could be debated, but just saying you're a failure if you have more than a small rainy day pot when you die is just illogical. (I also haven't watched the video, lol.)

Felgerkarb · Post by **Felgerkarb** » Wed Jan 31, 2024 3:58 am

Seen too many expats move to Cambodia and die with zero...they didn't seem to need a book or plan to accomplish this amazing feat.

Bluenose · Post by **Bluenose** » Wed Jan 31, 2024 6:58 am

Money can't buy you happiness but it does bring you a more pleasant form of misery. Spike Milligan

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