Lessons from the Book: Die with Zero
I recently finished reading “Die with Zero” by Bill Perkins. It’s not your typical self-help book that teaches you how to save and invest. It’s a book that talks about spending money and leaving the world with $0 in your bank account. I was intrigued by the idea and decided to read this book.
1. What is the Die with Zero about?
It’s a book that advocates readers to spend money wisely for experiences. The entire book is about the concept of optimising your life, preventing over-saving and living your life to the fullest. This book provides eye-opening insights about time, money, and happiness.
2. Why should you read Die with Zero?
I have been reading a few books about money and investment. Most of them do not touch much on the topic of “spending”. This book provides another perspective about money vs experience. I agree with the book because I did practice some of the concepts in my early twenties (way before I read this book.) There will be people who disagree with the idea. However, I would encourage you to read it as the book provide another perspective of “money”.
3. What have I learnt from Die with Zero?
Most of us go through life as if we have an infinite amount of time. We avoid the subject of death and we don’t plan for it. We “wake up” when we are near our deathbed. You know that you will leave this world one day, isn’t it wise to spend our money on experiences that yield long-lasting memories. Be it on travel, throwing a birthday party, going for wakeboarding classes, etc.
“The human brain is wired to be irrational about death.” - Cooper Richey
I learnt an important lesson from this book - we should give money to our family members or charity while we are alive. Your children might need the money while you are very much alive. You can help pay for their mortgage, and your children can have one less burden on their shoulders. The same theory applies to charity. Once you give away the money, it’s no longer within your control. You can use the remaining amount for yourself.
Of course, not every one of us can do that. We might be saving for rainy days. It’s up to you to decide which approach to take up. Ultimately money is a tool to purchase goods, services, and experiences.
4. How has Die with Zero changed my life?
As I shared previously, I practised some of the concepts even before I read the book. I travelled extensively in the past. I spent most of my money on experiences. Indeed, those memories are worth the money. Looking back, I don’t regret spending my money on travel. Honestly, I am thankful that I did travel extensively before the pandemic hit. Right now, most of us can’t travel yet.
I always love to encourage everyone to travel when they are young, for two simple reasons - 1. you have the health to do so and 2. you may not have commitments. You can chase after experiences during this period of your life. Of course, the only downside is that you have minimal savings. I experienced it first hand and I was cool with it.
This book pushed me to take up the Google UX design professional certificate. I wanted to take up UX four years ago. I hesitated, doubted myself and lived in the unknown for FOUR YEARS! I wasted too much time. Hence, now that I have savings in my bank account, I decided to just go for it! Right now, I don’t regret it. I am learning new things, and the experience has been great.
I might have confirmation bias because this book advocates the same principle as I do. Moreover, it serves as a good reminder that you have to be strategic about when is it a great time to pursue your dream. I encourage you to chase your goals when you have the health and energy!
5. Who should read Die with Zero?
I would recommend it to everyone. It provides another perspective about money and life.
I hope this article you an idea of what Die with Zero is about. If you are interested, you can get the book here.
x, Esther
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In this post, we will discuss the lessons from "The Psychology of Money."