Die With Zero is a 10/10 book that changed how I think about fatFIRE. It’s written by Bill Perkins and easily my top 3 favorite readings for anyone achieving financial independence.
Many of us struggle to balance our desire to live a meaningful life now with the push to save more, work more, and celebrate after achieving the next goal in life.
If you are not only delaying gratification, but actually delaying happiness in an attempt to retire early, then this book is for you.
Die With Zero gives counterintuitive advice on how to optimize your time, money, and experiences together so you live a life of no regrets.
In this blog post, I will share my 9 key learnings from Die With Zero and how you can apply them to live a more fulfilled life.
The Philosophy of Die With Zero
At its core, Die With Zero is about optimizing your money and time to maximize creating unforgettable experiences that are meaningful.
I used to think because I want to fatFIRE with $6 million by the time I’m 45, then that should be the goal I set. Wrong!
Money accumulation is a means to an end, it’s not the end itself. Instead, create goals to build a fulfilled life full of good memories.
And how does money come into play? Well, money frees you from having to work many hours a day in a job you hate SO that you can do the things you want to do – the things that build memories: be it spending time with your family, working on a hobby, or pursuing a career you are actually passionate about but pays very little.
But the problem, as Die With Zero points out, is that not all memories can be created any time.
Some memories are best created in your 20s, not your 30s. And other memories are impossible to create after a certain age.
And since a fulfilled life is simply a life full of great memories..
Always delaying gratification in order to always prioritize working and saving for retirement… not the best strategy to live a fulfilled life.
Too many people focus on accumulating wealth and possessions without considering how (and when) to best create memories!
Die With Zero argues that we should live our lives as if we have a finite amount of time left – and that certain memories need to be created now, not later, because time is running out.
This doesn’t mean that we should be reckless or irresponsible, but rather that we should be intentional about how we use our time, money, AND experiences.
How exactly do we do that? The 9 lessons will show us how.
Optimizing Your Time to Live a Fulfilled Life
Time, not money, is our most valuable resource.
Yet time is very often the ONE thing we take for granted.
To live a fulfilled life, Die With Zero suggests that we live with more urgency, to be more intentional at how we use our time to create memories today, right now, before it becomes too late.
Lesson #1: Give yourself permission to live a life that is true to your values and passions now, even if it goes against societal norms or expectations.
The first step in optimizing your time is to identify your priorities. And then prioritize your time them!
What matters most to you?
Is it spending time with your family? Pursuing your passions? Building your career? Whatever it is, make sure that you’re spending your time on the things that truly matter to you ASAP.
Steve Jobs was known for his intense focus and his ability to cut through distractions in order to achieve his goals.
In his famous Stanford commencement speech, Jobs talked about how he used his own mortality as a way to stay focused on what really mattered to him.
He said, “Remembering that I’ll be dead soon is the most important tool I’ve ever encountered to help me make the big choices in life.”
By keeping his own mortality in mind, Jobs was able to identify his priorities and focus on the things that truly mattered to him.
This helped him to achieve great success both personally and professionally, and to live a life that was aligned with his values and goals.
Your time is limited. Don’t waste it living someone else’s life. Don’t be trapped by dogma, which is living with the results of other people’s thinking. Don’t let the voice of other people drown out your inner voice. And most important, have the courage to follow your heart and intuition. They somehow already know what you truly want to become. Everything else is secondary.
Steve jobs, 2005 stanford commencement
Lesson #2: Create a time budget that allows you to prioritize the experiences and activities that bring you the most joy.
Once you’ve identified your priorities, the next step is to create a time budget.
Just like a financial budget, a time budget helps us to allocate our time in a way that reflects our values and goals.
By setting aside time for the things that matter most to us, we can ensure that we’re making the most of our limited time on this earth.
I decided recently that I’m going to allocate time taking my parents to nice restaurants all around the world, starting in my hometown of New York City.
This was a tough decision – it goes against our frugal mindset, and certainly blows a hole to our carefully tracked budget.
But having nice meals is the ONE thing my parents and I enjoy. And we somehow always try to save by cooking at home or going to a restaurnat just one level below the mind-blowing experience I want.
But how many more times am I going to enjoy nice meals with my aging parents?
My parents are getting old to the point where they are already feeling more comfortable at home versus taking the long journey to eat somewhere else. As any aging people and they’ll tell you they can’t eat like they used to. Soon, their digestion system is going to force them to eat at home as they are already preferring to eat lunch out side and dinner at home these days.
A few fancy meals a year these days will create unforgettable memories for all of us that, to be honest, we probably won’t be able to create in five years.
This is it – this is the last of the times for me to have fancy meals with the people I love. So as much as I want to wait until the kids are older, or until I hit my fatFIRE number, life does not wait.
Life doesn’t want for you to fatFIRE. Life is flying by. And thanks to Die with Zero, I learned the most important lesson: create experiences that you can only enjoy at this age, today.
Lesson #3: Say “no” to things that don’t align with your priorities and focus on what truly matters to you.
Another important aspect of optimizing your time is to avoid time-wasters. These are activities that don’t add value to your life and can eat away at your precious time. Some common time-wasters include mindlessly scrolling through social media, watching too much TV, or getting caught up in gossip and drama.
By being mindful of these time-wasters and actively avoiding them, you can free up more time to focus on the things that truly matter.
An example of a time-waster that many of us can relate to is social media. While social media can be a great way to stay connected with friends and family, it can also be a major distraction that eats away at our time.
One way to avoid this time-waster is to set limits on your social media use. For example, you might decide to only check your social media accounts once or twice a day, rather than constantly checking them throughout the day.
By being intentional about your social media use, you can free up more time to focus on the things that truly matter to you.
Remember: very smart people at these technology companies spend billions and billions of dollars to learn to get your attention and time – because they are valuable and they are money.
When we spend 30 hours every week watching YouTube, Netflix, and TikTok, we shut off being vulnerable, sitting in silence, working through a big problem with your spouse, and giving your loved ones our undivided attention. We are no different to heroin addicts who watch time fly by as they inject dose after dose of dopamine in the form of 30-second videos.
Optimizing Your Money to Live a Fulfilled Life
Money is another important resource that can either enhance or detract from our sense of fulfillment.
According to Die With Zero, the key is not to accumulate as much wealth as possible, but rather to use our money in a way that maximizes memory creation at each stage of our life.
Lesson #4: Spend more money now, not later, to make the most of your time to create memories at every stage of your life.
One strategy Perkins recommends is to “front-load” your spending.
This means spending your money on the things that will bring you the most joy and fulfillment while you’re still able to enjoy them. In other words, spend money on memories that only you can create at that specific time of your life.
Let’s take travel as an example. Backpacking around the world is an unforgettable experience shared amongst those in their 20s. Living with strangers in hostels, being able to live on $20 a day in Tokyo. The memories you create, the world-changing views you gain, they are priceless. You are not gonna want to live like that in your 40s after having kids.
And if you continue to delay into your 40s thinking you can still travel later? Well, sure you could, but it’s going to be a different type of travel.
There will be no serendipitous meetups with strangers in a packed hostel. There will be no staying out late into the night partying with international friends you just met around the world.
It’s going to be staying in your fancy hotels – clean, comfortable, but somewhat isolated – but you’re okay with it because you are older and you crave comfort more than rugged adventure now.
And your back hurts, and you can’t pull all-nighters, and you have kids. So you might prefer a resort, or a cruise, somewhere more artificial, less authentic, more luxury and less real-life.
The trap of accumulating wealth for its own sake might give you more regret than happiness if you are not careful.
This is why front-loading your spending is so important. By prioritizing experiences and spending your money on the things that bring you the most joy while you’re still able to enjoy them, you can create a life that is full of meaningful experiences, rather than just accumulating wealth for its own sake.
Lesson #5: Focus on experiences, not material possessions, to create a more meaningful life.
Another key aspect of optimizing your money is to focus on experiences, not things. While material possessions can bring temporary happiness, experiences tend to have a more lasting impact on our overall sense of fulfillment.
Whether it’s traveling to a new place, trying a new activity, or spending time with loved ones, investing in experiences can help us to create meaningful memories that will last a lifetime.
I spent two weeks traveling through Central America in my late 20s. While some of my friends thought I was crazy for spending the very little time I had back then going to “random” places, I knew it was something that I wanted to do.
The trip turned out to be a transformative experience for me. I got to explore new cultures, try new foods, and see amazing sights that I had only ever read about. I met interesting people who opened my eyes up to different ways of living. I came back from the trip feeling more fulfilled and energized than I had in years.
This is why Die With Zero emphasizes the importance of spending money on experiences rather than things. While material possessions may bring temporary happiness, experiences have a more lasting impact on our overall sense of fulfillment.
Lesson #6: Giving your money away can actually make you happier than spending money on yourself.
Die With Zero suggests that giving your money away can be a powerful way to live a fulfilled life. Whether it’s through charitable donations, helping out a friend in need, or simply being generous with your time and resources, giving back can help to create a sense of purpose and fulfillment that money alone cannot provide.
During the 2008 Recession, I was very focused on paying off my student loans and saving the very little money I was making back then. Then, one day, I got laid off from work, and I felt like everything went missing in my life.
I felt lost, and scared, but also, strangely free.
So I decided to donate $500 to charity. Mind you, $500 was a lot of money for me back when I had maybe a few thousand dollars in savings, $35K in student debt and at that time, no job.
I remember vividly that I paused my student loan payment, got my first unemployment check, and then promptly donated $500 to the World Fistula Fund because $500 saves one woman’s life.
To my surprise, I found that giving my money away brought me a sense of purpose and fulfillment, and it helped me to feel less anxious about the fact that I now don’t have a job. By helping others and making a positive impact on the world, I felt like my life has meaning beyond a job title.
From then on, I regularly give money away, always carefully and thoughtfully.
I donated to friends running for marathons, people seeking medical treatments, all of the tear-jerking stories on HONY, and to nonprofits that save or improve lives the most per dollar.
Giving your money away can be a powerful way to live a fulfilled life.
By using your resources to help others and make a positive impact on the world, you can create a sense of purpose and fulfillment that money alone cannot provide.
Optimizing Your Experiences to Live a Fulfilled Life
Finally, Die With Zero argues that we need to be intentional about the experiences we seek out in life. This means focusing on experiences that are meaningful, memorable, and aligned with our values.
Lesson #7: Avoid saving money for the sake of saving, instead prioritize experiences and activities that align with your values.
One strategy Perkins recommends is to create a “bucket list” of experiences that you want to have before you die.
By setting goals and actively working towards them, you can ensure that you’re making the most of your time and experiences.
Whether it’s traveling to a new country, learning a new skill, or trying a new adventure sport, having a clear sense of what you want to accomplish can help you to stay focused and motivated.
I make bucket lists all the time – small ones for the year and big ones for my life. For years, she had put off taking my family on weekend trips that cost some (or a lot of) money, thinking we didn’t have enough time or money.
One day, I decided to create a bucket list of all the places I wanted to visit with my extended family – Europe, Africa, Asia, South America and across the many national parks in North America.
My husband and I started a vacation fund and made concrete plans to achieve these goals every year. We’ve crossed off many of the items, and have built memories that are worth way more than anything I could’ve gained with those money sitting in an investment account.
By creating a bucket list and actively working towards your goals, you are no longer dreaming of maybe some day. You are turning your goals into reality, creating a life full of meaningful experiences before it’s too late.
Lesson #8: Don’t let fear or uncertainty hold you back from pursuing your dreams and goals.
Another key aspect of optimizing your experiences is to say yes to new opportunities. This doesn’t mean that you have to say yes to everything, but rather that you should be open to trying new things and stepping outside of your comfort zone. Whether it’s attending a networking event, joining a new club, or trying a new food, saying yes to new experiences can help you to broaden your horizons and create new memories.
I’m naturally a very introverted person, and my husband is hesitant to try new things. We had a comfortable life, but I constantly felt like something was missing.
One day, I decided that I’m going to quit my fancy corporate job and join a startup. My husband said I would wait awhile longer, maybe after my promotion and our first kid. My friends told me the startup isn’t reputable. But I went with my heart because I loved the people.
I had some of the most eye-opening experiences there, and honestly, learned a lot from the ruthless and creative ways the founder made decisions and executed against the impossible. It made me an infinitely more capable, optimistic, and confident entrepreneur.
Yes, it set back my career climbing the ladder in a corporate setting. But I had fun. I learned. And I’m saying yes to my own path. I would do it again in a heart beat.
From that point on, we made a conscious effort to say yes to new experiences whenever possible.
By saying yes to new experiences, we were able to break out of our comfort zones and create memories that define and reshape our relationships forever.
Lesson #9: Embrace discomfort to grow and learn as a person.
Finally, Die With Zero suggests that we need to be willing to embrace discomfort in order to live a truly fulfilled life. This means pushing ourselves outside of our comfort zones and taking risks in order to grow and learn. While it can be scary to try new things or take on new challenges, the rewards can be immense in terms of personal growth and fulfillment.
I had always been very risk-averse, being an immigrant who felt like everything could be gone in a split second.
I had a stable job, worked hard, and a comfortable life. But I never asked myself what I really wanted out of life.
One day, I decided to take a chance and start my own blog: the fatFIRE woman, because I loved talking about this stuff.
It was a scary decision, and I had many doubts and fears along the way. But by embracing the discomfort and pushing through the challenges, I was able to build a successful blog that brought me not only a sense of purpose, but happiness.
Today, I’m very happy writing, researching, and sharing my thoughts via this blog. And I didn’t know I could do this until I went through months and years of learning to do this right.
This is why Die With Zero suggests that we need to be willing to embrace discomfort in order to live a truly fulfilled life.
By pushing ourselves outside of our comfort zones and taking risks, we can grow and learn in ways that we never thought possible.
Die With Zero: Summary
Die With Zero offers some counter-intuitive insights into how to live a fulfilling life by front-loading your spending, giving your money away, and embracing discomfort. While these principles may challenge some of our assumptions about how to live a good life, they ultimately offer a path to greater fulfillment and purpose.
Spend more money now, not later: One of the core principles of “Die With Zero” is to front-load your spending by investing in experiences and activities that will bring you the most joy and fulfillment while you’re still able to enjoy them. This means spending more money now, while you’re young and healthy, rather than waiting until you’re older and potentially less able to enjoy those experiences
Give your money away to live a more fulfilling life: Another counter-intuitive insight from “Die With Zero” is that giving your money away can actually make you happier and more fulfilled. While many of us think that accumulating wealth is the key to happiness, research has shown that giving to others can actually bring us more joy and fulfillment than spending money on ourselves.
Embrace discomfort to grow and learn: Finally, “Die With Zero” emphasizes the importance of embracing discomfort in order to live a fulfilling life. While many of us try to avoid discomfort and stick with what feels safe and familiar, Die With Zero argues that taking risks and pushing ourselves outside of our comfort zones is essential for growth and learning.
Whether you’re just starting out on your journey or you’ve been on this path for a while, there’s always room to grow and learn. By implementing the key learnings from Die With Zero, you can create a life that is full of meaning, purpose, and fulfillment.
Remember, you only have one life to live – make it count.
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