The Daiwa zero argument is based on the idea of a memory dividend. It means you get happiness or fulfillment when you have a certain experience in life but also get value every time that you have a memory about that experience for years to come. By 2010, John Arnold had reached $711 million in at worth and by the time he quit his hedge fund, he was 38 years old and had a personal fortune of $4 billion. There is a huge cost to having money left over in life.
Episode 36: Alex Lieberman (@businessbarista) brings you a special Wednesday edition of Founder’s Journal to share lessons from Bill Perkins’ Die With Zero. It’s a playbook on how to live life by maximizing enjoyment vs. maximizing wealth. Entrepreneurs can get caught up with racking up as many dollars as they possibly can but miss out on investing in experiential moments that can pay dividends over time. Here are the biggest lessons:
- Life is not a game of space invaders
- Experiences are investments like stock
- There’s a huge cost to having money left over
- The human brain is irrational about death
- You should save less, especially when you’re young
- Die with zero doesn’t mean you don’t care about kids or charity
- The optimal time to extract enjoyment is ages 26-35
- Health is the #1 factor affecting lifetime fulfillment
- You should find more and more ways to exchange $ for free time
- There’s 2 common regrets people have on their deathbed
- Use time buckets
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