šŸ’€ Die With Zero

Every financial book says the same thing. Contribute to your 401k, invest in your Roth IRA, save an emergency fund... blah blah blah šŸ˜“.

But this book does something different. He tells you to spend your money. What?

I have never had a finance book tell me to spend money. His argument was to spend money on experiences when you are young when you can get the most out of them.

The whole idea of his book is to die with as little money as possible. Weird right?

šŸ«€ Health Age Money Balance

He uses this diagram to showcase that your health declines with age but your wealth rises. Your skiing trip in your 60s will not be nearly as fun as it could be in your 20s.

He encourages you to "do the bold thing now, rather than in retirement because the go-go years are very short."

šŸŖ£ Time Bucketing

The book recommends bucketing your time in (5) year increments. This was hard to see honestly. I threw some examples into the first few buckets. But I have no idea what goes in the others. Try this exercise, it's scary!

šŸŖØ Know Your Peak

Oh no, not another diagram. Yes. He reminds us to know our peak declining health. Around 50. Aim to get most of your high-physical trips/adventures finished by then.

šŸ‘¶šŸ¼ What about kids?

His take on kids is also fascinating. He argues to give your kids their inheritance when they are in their 20s. Mainly because $20k is extremely useful when they are starting their life around 18-25 years old (car, education, house, etc) as it isn't as much of an impact when they are 50.

šŸ—ļø Key Takeaways

  • Too many people delay gratification for too long (pst... us penny pinchers! šŸ™‹šŸ¼ā€ā™€ļø)
  • Decide what makes you happy and then convert your money into experiences
  • If you are resisting having experiences now, consider the risk of not having them now
  • Don't wait. Do the bold thing now.

šŸ“‘ Companion Reads

There are (2) books that I recommend that go great with this psychology finance book.

šŸ”— Psychology of Money: https://amzn.to/3GuEbmK

šŸ”— Your Money or Your Life: https://amzn.to/3NeJQkO

šŸŽ¬ Full Video

I filmed an entire video reviewing the book because it was so controversial and fascinating - check it out here šŸ‘‡šŸ¼

šŸ”— Die with Zero: https://amzn.to/3TfzCEM

šŸ”Ž Behind the Scenes

I am transitioning my channel to focus on specific actionable tips from non-fiction books. Most of the time they do mention specific software, but it won't be the main subject of the videos in 2024. If I get terrible views, well... at least I tried!

šŸ”® Upcoming Book Reviews:

    • šŸ’¼ Two Weeks Notice
    • šŸŽÆ All It Takes is a Goal
    • šŸ’€ The Power of Regret