How to Die with Zero
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- เผยแพร่เมื่อ 27 ม.ค. 2022
- Die with Zero by Bill Perkins is a book that talks about the aim of getting all you can from the money you earn. You shouldn't earn more since that would mean wasting your valuable life on accumulating wealth you will never spend. Why bother? Instead, spend your money down to experience life to the fullest while being careful to never run out before your time comes. Want to leave some to kids or charities? Why not donate the intended amount before you croak? Many interesting points that makes you think about how to structure your life.
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This book changed my life.. retired at 55
I don't get much joy out of spending money. I find building things and being a creator brings me more fufilment than being a consumer.
Me too making stuff is the most fun for me... Guess we can spend money on making stuff lol
@@yoyoyo5621 I have spent a lot of money building bikes lol but I really love it
As I have gotten older, I have already bought enough "stuff" and "things". TRAVEL is the only the only thing I want to do.
I am buying this book just to leave on a coffee table to see my teenage kids reactions. Go ahead and tell me like before daddy need new cars!
You are so right. Geeshus, at anytime, I can just recall any of the many things we did with the kids (including the gazillion trips we took together) when they were younger, and be flushed with so many wonderful memories. So glad I put a priority on vacation over work - never did I cancel work which resulted in missing out on a family related thing (field trips, family vacations, first days and last days of school, etc). We on many occasions took the kids out of school to leave town - to show them the importance of personal space. Priceless, no regrets. It's total BS when I see co-workers losing vacation time it work late and miss holiday gatherings, etc. I do not understand that concept.
I work to earn money to spend on my family and I, not for the benefit of the employers. It's at will, and they can let me go at anytime for any reason, which has happened.
There is an illusion of safety and loyalty at a job but a real safety is if there is an actual contract.
@@BeatTheBush and when a company tries to come up with a new slogan to depends 'Great place to work' (or something similar), that's a red flag
Anytime I worked a holiday, I banked the holiday, rather than cash it out. You can't tax a day off and give me 65% of a day off, unlike the cash. I had many extra days off.
Just like stock market, coupled things in life I know we cannot timed:
-Sickness
-Lifespans
Drawing down is like final count down. once the clock started, there is no way to stop it.
If you have a lot of $ left the day you die, whatever leftover is not your problem.
Warren Buffett is shaking and crying
This is hard for me. My greatest fear is dying broke. I worked in a long term care facility a few years ago and saw how bad you can live on your last years of you don't plan well
You might find peace of mind if you pay off your mortgage, max out your Roth 401K, Roth IRA, and HSA. Then confidently enjoy the remainder of your active income
@@manny6020 I'm in Canada. Our real estate is crazy. I got like 800k of mortgage
@@jchong416 wow, I imagine renting is equally outrageous
@@manny6020 we are like Australia. There's massive foreign speculation and not much investing in the stock market over here. My mortgage is in CAD and not USD. We also make less than Americans. I tried to immigrate to America about 10 years ago but found it hard to do so.
@@jchong416 currently America seems to be lenient on immigration. It might be a good time to apply if you’re still interested.
So many good points. When the day comes I am sure it will be a struggle for me to switch from being a saver to a spender. I have worked hard to stack up money and protect myself, but I should probably create a plan for how I am going to spend or donate the money that I have been saving.
Thanks good to hear your thoughts
Very nicely discussed. Well done!
Based on some of my elderly relatives who thought they’d die comfortably or have a nice nest egg to pass on, end of life care is very expensive. If you’d like to stay in your home at then are be prepared financially. However on a side note, I’ve noticed those living in facilities have lived longer. My grandmother had 13 siblings and only one is left, I base my observations on this.
If you aren't properly prepared for retirement you better hope you have good family and have been really good to them, or you will be in a home. Nobody wants to be, or should be at the mercy of the state for their twilight years. If you're inevitably going that route, spend it all before you go in the home, because medicare will drain your bank account before they start paying. They will take it all, you can't have any serious assets, like 2 or 3k, that's it.
I think its more about the mindset rather than trying to get to 0
I thought I read in the book (or maybe watching a YT video with Bill), that the title, "Die with Zero" was just a provocative title. The real title should be, Die with zero regrets. I enjoyed the book, but at age 65, I missed out on many of the suggestions that he makes in the book. I did recommend this book to my son who also enjoyed it.
Great video as always! Truly appreciate it
I want to die with all my credit cards maxed out 😂
That is the way to go
Funny
That's very tricky, because you'll be in jail if you're still alive.
The afterlife is based on this life's FICO score....... LOL.
You’ll pay for all your debt day of judgement.
The book sounds interesting to some extent. I might check it out. I may not agree with the author on all of the points but i may still gain some parts that i can use for my own strategies.
Conservative spending down with what you're comfortable with on experiences with the people you care about is what I'm going to do. It's highly variable how people will want to deal with this issue
The book is $14 on Amazon...think I'll save the money, I might need it when I'm older.
LOVE THIS
I can't believe a writer can make money on stuff like this
I wish I had more to gift while I was alive, but at my current rate I’ll be lucky to retire. It’s tough to balance life and finances.
👌🏾 This Reminds me of Chuck Feeney
Break all entitlements now, specially your kids. Raise them to think for themselves as they are most productive and creative when they go it alone. Money is a tool to be used sparingly. After basic needs are met there is no need for embellishments. Anonymously help those who don't expect and would be truly grateful for it. You'll love your life10 fold, then sip your cognac.
This reminded me of, "The Gospel of Wealth" by Andrew Carnegie, although it is more focused on using the excess wealth for a good cause than on spending it on oneself like this book seems to be more focused on. Of course Carnegie's call to action is for wealthier people, but I wouldn't want to throw a lavish party just because I can afford it.
So people often cast lavish things in a negative light, but just think how many people are employed by lavish endeavors, many of them self employed, some of them very skilled crafters and artisans. I don't think that is necessarily bad economically. It just sometimes is wasteful, but the super wealthy are such a small % of the population the overall impact shouldn't be that big. I know people who cater and organize lavish parties for the wealthy don't want to see their paychecks disappear.
Any other book recommendations?
I don’t plan on dying soon so I’m not sure how relevant this book is to me
I don't either but this book is about what to do before you're dead. Still, it's too fast a read and not enough content for me.
Lol no one 'plans' to die but life has 100% chance of death eventually. So it is relevant for everyone
Best way to predict to die is to set a date to die when we are no longer able to take care of ourselves.
This is why I believe tipping should be done before the meal instead of after. They are more likely to give better service
Or, like the rest of the world require employers pay them an adequate salary so you don't have to make up for it.
Depend on service if I will tip. Some may take the money and run.
Or you could have income that ends when you die like social security or pensions.
If only we knew when we're going to kick the bucket
I don't want to know it.
From 60s+ you have higher expenditures because of medical bills and medical living facilities; you will know what I mean when you get 60+ lol
My dad worked for future generations.
The quotes research in the book says otherwise. Where spending is STILL reduced.
Spent it on family vacations sound good. I plan to gift it plus a Living Trust.
That sounds like a fine way to spend. Cheers!
omg meeeee my comment got featured in the video I feel so special hahaha yess i really wanted u to review that book!!!!
Thanks for asking for it, I enjoyed the book.
If I have money left over when I die, it’s because I miscalculated…
also, some people are saying this year's inflation rate is closer to 11%, not 7%. therefore, investing in silver and gold might hedge against inflation. this isn't financial advice, you'll want to do your own research. for me personally, i don't want the government to decrease the value of my hard-earned dollars.
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Kids are the backup for when you have remaining left over haha
Francis, you need to have children. When you do, put all your money in a revocable trust with conditions for your children to inherit the money. Conditions can be things such as college educated, no felonies, no recreational drug use, 800+ credit score for consecutive years, etc.
Why can’t you do this for your nieces and nephews or the local animal shelter?
Correct you can do that with anybody or any organization if you don't have children.
This makes sense if you single but if you have kids or even extended family you should help them out. Spending all your money on yourself if you became a millionaire seems very selfish especially if you have anyone who could use the help in your immediate or extended family. That’s not to say you should leave them everything but I think leaving family something is the right thing to do. Of course that’s my opinion.
I think your very wise but I also think u have a good heart. I also think like u share & help others.🙏
I think you have to read the book because it addresses giving to family. The main thesis is that you give sooner than later. Most people give financially to their children and family past the time when they truly need that assistance.
@@TerranceYu Yeah that's good. As well, giving money comes with a lot of risks. I'd prefer to give something like real estate for many advantageous reasons
agreed. personally, i also think if you write down all the things you'll want to do or buy, they won't cost as much as you might think. some hobbies or even vacations may not cost a lot of money, as Francis mentioned. (i think his comments about creating good memories is a great idea.)
Never said spending all on yourself at all.
❤️
=D
before I die I want to take a bunch of money and bury it somewhere. I will leave clues and a map. I will publish the map and clues in a blog, youtube vid, podcast, or something. whoever gets there first gets the money
Nice. A guy did that and wrote a book. Of course many people died looking for it.
the rich live off of their earned interest rates so that they'll never run out of their money (their principal amount), and they continue to have passive income. also, i've heard that banks will negotiate interest rates with rich people with a contract that includes a set amount of years that the money has to stay in their bank while accumulating interest. they won't do that (negotiate) with the average person. edit: however, the rich can withdraw the earned interest at any time.
@@aquablue8750 i didn't think about that and i don't know much about crypto currency, yet. makes me wonder if they'll come up with a way to demand interest somehow.
@@aquablue8750 i see. thank you for the information!
I know when I can die , if I decide to jump in front of a train lol
cant snowboard after 30 lol
Btb here to remind me I could get hit by a bus! 😅
Chances are dramatically reduced if you always look both ways! :D
I say just calculate to 85-90. I would just off myself if I had to live longer.
The thing is is when you get there you won't want to.
MOOOOooo! Where was it? I'm annoyed.
Next time! :D
@@BeatTheBush Better be. I'll be listening.
I try to die with -5million 😀
Is that negative 5 million? 😁
Dont support this kinda author e.g hypocrite using feel good ideas to bait people to spend their money
Francis, I have been begging you since forever.. can you PLEASE make a video on how you think you can become a billionaire? From where you are, what realistic steps you can take from now to become a billionaire.. YOUR SPECIFIC SITUATION.. and then you can close the video off with a general recommendation on that...
if u have to continuously ask this without finding out this info for yourself, then you're probably not smart enough to become one. there are very few billionaires in the world, most have a good education and a lot started of wealthy already, almost none started from zero. i would say the chances are very slim.
@@dave597 Im smart enough to know but I want Francis' opinion as well.. the smart thing to do is get a varying amount of opinions on the topic... you would know that if you were smart... I am asking a very specific question... regardless of what the majority or minority starting point of becoming a billionaire is..
@@becomingabillionaire if u want my opinion, its that people don't know how to think for themselves these days
First
Love your channel but genetic therapy is becoming a reality. People are going to live longer be healthier be physically stronger with increased intelligence. You will be also less likely to get cancer and Alzheimer's. You are doing the right thing save your money for genetic therapy you might want to go back to work at a high pain job so you can get in to genetic therapy at a earlier stage. Listen to Elizabeth Parrish
Hmmm... that might be true but I'd like some mass market products in this area before making financial moves.
Don't worry, Uncle Sam will spend your $$$ through inflation!!!
Why enjoy the money when you should leave it all to your kids??? Thanks