Modern Wisdom

#642 - Bill Perkins - Why You Should Spend All Of Your Money Before You Die

Jun 17, 2023

01:56:01

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Quick takeaways

Maximizing positive life experiences means using your resources to create fulfilling moments.

Investing in experiences early in life allows you to take advantage of the memory dividend.

Consumption smoothing involves aligning your spending with different phases of life.

The philosophy of aiming to die with zero prioritizes experiences over excessive accumulation of wealth.

Deep dives

Maximizing positive life experiences

Maximizing positive life experiences means using your resources, such as money and time, to create fulfilling and memorable moments. Delaying gratification to the extreme leads to no gratification, so it's important to make the most of life experiences.

The Fulfillment of Life and why nobody want to be Warren Buffett

04:08

The Asymmetry of Taking Risks in Life

02:41

The Importance of Getting the Order Right in Pursuing Life Goals

01:56

The Importance of Giving Money Early to Your Kids

03:24

Introduction

4min

The Fear of Waste

4min

The Counterfactual Regret Minimization Algorithm Solving for Net Fulfillment

5min

How to Maximize Positive Life Experiences

2min

The Importance of Conscious Saving

2min

How to Get Off Autopilot and Live a Fulfilling Life

5min

The Importance of Order in Life

1min

The Importance of Money in Life

2min

The Hedonic Value of Money

3min

10.

How to Be Rich

3min

11.

The Power of Experiences

3min

12.

The Power of Compounding

3min

13.

The Importance of Fulfillment

4min

14.

The Importance of Consumption Smoothing

2min

15.

How to Apply Consumption Smoothing to Your Life

2min

16.

The Cost of Consumption Smoothing

3min

17.

The Sigma Grind Mindset Trend

2min

18.

The Problem With Delay Grateful Gratification

2min

19.

The Total System of Life

3min

20.

The Joy Bucket

4min

21.

The Importance of Having an Assistant in Planning

2min

22.

How to Die With Zero Thinking

2min

23.

The Importance of Optimizing Life

5min

24.

How to Estimate When You're Going to Die

4min

25.

The Importance of Planning for Your Vacation

2min

26.

The Importance of Prioritizing the Period That Your Kids Want to Be With You

3min

27.

Don't Live Life on Autopilot

4min

28.

The Importance of Intentionality in Life

3min

29.

How to Optimize Your Life in Seasons

2min

30.

How to Deal With a Telephone War

3min

31.

The Balance Between Health, Wealth, and Time

2min

32.

How to Stop Working and Investing

3min

33.

The Importance of Projection Forward

2min

34.

The Importance of Investing Early

2min

35.

The Importance of Giving Money to Your Kids

3min

36.

The Importance of Charity Early

2min

37.

The Importance of Taking Big Risks Early

3min

38.

The Importance of Being Present

2min

39.

Fuck the Haters and Live the Adventure

2min

40.

The Selection Effect of the Most Notorious People

2min

41.

How to Be a Better Person on Twitter

4min

Bill Perkins is a hedge fund manager, high stakes poker player, film producer and an author.

What if the true path to financial fulfilment doesn’t lie in saving every penny, but rather in spending it as effectively as you can? Delayed gratification in the extreme results in no gratification, and Bill's book Die With Zero is one of the best financial philosophies I've ever come across.

Expect to learn how to maximise your existence for positive life experiences, why you should give your kids their inheritance when they're 30, the most common errors people make about money, why it’s so hard for some of us to spend, the brilliant concept of ‘consumption smoothing’, what Sigmamode grindset-ers are getting wrong about work-life balance, how to plan your life in terms of seasons and much more...

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Go to my sponsor https://betterhelp.com/modernwisdom for 10% off your first month of therapy with BetterHelp and get matched with a therapist who will listen and help

Extra Stuff:

Buy Die With Zero - https://amzn.to/3MU4q99

Follow Bill on Twitter - https://twitter.com/bp22

Get my free Reading List of 100 books to read before you die → https://chriswillx.com/books/

To support me on Patreon (thank you): https://www.patreon.com/modernwisdom

Get in touch.

Instagram: https://www.instagram.com/chriswillx

Twitter: https://www.twitter.com/chriswillx

YouTube: https://www.youtube.com/modernwisdompodcast

Email: https://chriswillx.com/contact/

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Modern Wisdom

#642 - Bill Perkins - Why You Should Spend All Of Your Money Before You Die

Podcast summary created with Snipd AI

Quick takeaways

Deep dives

Maximizing positive life experiences

Investing in experiences early

Consumption smoothing

Aim to die with zero

Living Life with Intention

Prioritizing Seasons of Life

Maximizing Impact of Inheritance

Taking Risks Early

The Fulfillment of Life and why nobody want to be Warren Buffett

The Asymmetry of Taking Risks in Life

The Importance of Getting the Order Right in Pursuing Life Goals

The Importance of Giving Money Early to Your Kids

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Modern Wisdom

#642 - Bill Perkins - Why You Should Spend All Of Your Money Before You Die

Podcast summary created with Snipd AI

Quick takeaways

Deep dives

Maximizing positive life experiences

Investing in experiences early

Consumption smoothing

Aim to die with zero

Living Life with Intention

Prioritizing Seasons of Life

Maximizing Impact of Inheritance

Taking Risks Early

The Fulfillment of Life and why nobody want to be Warren Buffett

The Asymmetry of Taking Risks in Life

The Importance of Getting the Order Right in Pursuing Life Goals

The Importance of Giving Money Early to Your Kids

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