Die With Zero Summary

Die With Zero By Bill Perkins

Bill Perkins author of Die With Zero talks about how everyone should take more risks at an early age, go on vacations, do more charity, and save less money for retirement.

The author has done lots of research on how people spend their money from their 20s to 60s which will give you an idea about how you can manage your time and money.

Bill Perkins has shared lots of things but everything is not for everyone, for example, if XYZ person is earning Rs 10000 every month then he won’t think about saving or vacations, he will only think about how he can earn more.

Still, the book will give an idea of how people spend their money. So if you’re in your 20s or 30s then this book might help to understand how much money you should spend and how much to keep for retirement.

Favorite Quotes From Die With Zero by Bill Perkins:

“What Good Is Wealth Without Health?”

“First of all, yes, you can certainly leave money to the people and causes you care about—but the truth is that those people and causes would be better off getting your wealth sooner rather than later. Why wait until after you die?”

“A plan to spend a huge portion of your wealth during the last few weeks of life makes no sense. It’s totally irrational.”

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Die With Zero Summary

Now, the book doesn’t say “You should die with zero bank balance” but it simply talks about how you should enjoy every movement of your life without worrying about money.

You should spend money in your 20s to go on vacations and those experiences will stay with you forever rather than going on vacations in your 40s.

At that time, you will have money and time and when time passes, you will become old, and you won’t have time and you won’t be as healthy as you were in your 30s.

So make good use of the time you have.

Now, the author talks about some of the questions which might help you to decide what to do with time and money.

  1. What If I want to give my money to my kids?
  2. What If I want to do charity in my 60s?
  3. What If I run out of money till I turn 60?

So let’s explore these questions.

What About My Kids

I’m from India and most Indian parents say, “Whatever I have now will be yours when we die”.

So just think about it, what if your parents don’t leave anything for you?

Now, about this, Bill Perkins says…

Don’t give your money to your kids when you’re in your 60s because, at that time, your kids will be in their 30s or 40s.

So if you give your money in your 60s then that money won’t be useful for your kids, they will use that money for vacations or buy expensive things.

Instant, give your money to your kids in your 40s, this way, your kids can start a business or do any kind of work that they want to do.

This way, your kids don’t have to earn money to start a business and they don’t have to worry about the risk because they already have a backup plan because of the money you give them.

Now, this too has its flows,

Let’s say you give a good amount of money to your kids and they spent everything on vacations or buying expensive products or anything else.

Now, this problem won’t occur because you know your kids. So if you feel that, my kids won’t use this money to start a business or any other useful things then don’t give your money to your kids yet.

Let them mature.

What About Charity

Most people say, when I will retire I will give money to this Charity or that Charity but what Bill Perkins has said,

Do Charity when you have money and when someone needs it…

We have gone through COVID-19 and during that time, lots of people lost their job and family members. Now during COVID-19, if you had money then you should have given it to other people.

You don’t have to wait for retirement to do Charity, you can do it when you have enough money.

What If I Run out of Money

This too is a good argument, “if I do Charity in my 40s and what if I run out of money?”

This is where money management comes in, you have to know your needs and how much money you will earn till you take retirement…

You can also create passive income, invest in dividend stocks, buy a house, or do anything else.

As I have said,

Bill Perkins has shared lots of things but everything is not for everyone, for example, if XYZ person is earning Rs 10000 every month then he won’t think about saving or vacations, he will only think about how he can earn more.

Now, I won’t share “How to Manage Money” because that’s what we have discussed in the Psychology of Money”.

Time and Money

  • Between the 20s to 30s: We have lots of time, and good health but No Money
  • Between the 30s to 60s: We have a decent amount of time, money, and health
  • Above the 60s: We won’t be sure how much time is left time but we will have a good amount of money, and again, health will be an issue for some people.

Simply, do all kinds of physical activity till the 40s, and afterward do the physical activity but be careful with it.

For example, if you wanted to have Six packs abs then go have that, wanted to go climbing then go for it because you won’t be able to do this kind of physical activity when you’re in your 60s.

If you ask me, I want to have Six packs and as of writing this, I’m 25 years OLD. So I have promised myself that I will have Six packs before I turn 30.

So have a bucket list for each age because you don’t want to look back and regret it.

Take Risk

If you’re in your 20s then this is the right time to take risks, whether you wanted to start a business or start something else, just do it because if in case you fail then you will have tons of time to fix it.

Now, if you start a business in your 60s and if you fail then it will be hard to fix everything unless you have lots of money.

So take risks as soon as possible because you will be able to fix them.

Die With Zero Review

Yes, Die With Zero is a good read, and if you wanted to know what other people do with their money from the age of 20 to 60 then this could be a good book to read. It’s a well-researched book that will give you a clear idea about money, time, and health.

If I talk about myself,

I didn’t learn much from it as I have read quite of books on time, money, people, and much more but yes, Bill Perkins did give me a different perspective which will stay with me.

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