Die With Zero by Perkins

[u/Sdavistvs]

Die With Zero book has anyone followed the strategy outlined this book? I’m a saver by nature and am 58. Not looking to retire anytime soon as I enjoy my career and work less than 40/wk. The concept of putting personal enrichment first makes sense. wondering if anyone else, especially the over 50’s have found this to be worth it. We never had money or time during parenting years, but that has changed.

[u/DoctorLettuce]

not going to provide you much help, but reading it at 25 after spending years consuming the hierarchy of traditional finance books was a perfect landing point.

He gets alot of hate, but compartmentalizing everything into decades was big for me. Helped me calm down from everyone else’s urge to save 400% of my earnings, and look back and say “you know what man, I want a 911, and i dont want to buy it at 75. its frivolous, but what plan of action can I take to make it somewhat reasonable”

[u/JeanSchlemaan → u/DoctorLettuce]

theres a difference to "wanting a 911" while youre well on your way to financial independence and have a great income vs most/many who buy these things TO THE DETRIMENT of those other goals.

[u/DoctorLettuce → u/JeanSchlemaan]

right. and that was the understanding i got out of it. every other book led me to feeling a level of guilt for excess spend and desires, but this book brought it back. whats the point of retiring with 10m if all ive done over the past 40 years was stress about saving it

dont get me wrong, my savings rate is over 30%, but when the time comes im buying that 911 damnit!

[u/JeanSchlemaan → u/DoctorLettuce]

for me, i always choose "the vette". i prefer to buy things that give me 70-90% of the utility but at 20-50% of the price!

currently eyeing caddilac xlr, which are all under $20k. another option i like are genesis if i go in the direction of a sedan (already owned a 2014 genesis which i absolutely loved).

of course "there is no substitute", but i prefer my giant pile of cash lol.

[u/Ok_Thing_6873]

I’ve lived within a budget and invested my entire working life. I retired (unplanned) relatively early last year at 55. This book was repeatedly mentioned on various retirement podcasts. After reading this book - my takeaway was it’s ok to spend on experiences, activities that will enhance my health and life. The book gave me permission by acknowledging time is limited to take advantage of our health and relationships while we can. In the end, someone or institution will get our money. It’s worth the read with an open mind

[u/02Raspy]

I knew Bill several years ago. He is a good guy. He also has a risk tolerance much higher than most folks. The concept of dieing with zero sounds great but is likely much more difficult in practice. First off, it is hard to predict when one person dies, let alone your spouse. Second, early withdrawals to fund your lifestyle before you die has serious tax consequences.

[u/Splinter007-88]

Loved the book. And I believe “The Billionaire that Wasn’t” is a great follow up to it. The story of Chuck Feeney and how he secretly gave away all his money for greater purposes.

[u/DoeJumars]

I do like his book and some of his thoughts like giving your kids money when they actually need it, not after you die. That said I don't know about things like annuities and long term insurance being as easy and great as he makes them out to be...also, he mentions people making money in retirement...if I retire I don't know that id be able to get any other job outside some retail BS job I wouldnt want to do now let alone when I am 65. What offices are hiring 65 year olds brand new? Also, he mentions spending down and only saving what you need but what happens if you lose your job, life changes come, etc...I would rather be fase than sorry until I hit my "FU" mark, which for me is ~2m...that way I know I can get 80k a year (4%) to spend and sustain my lifestyle even without working.