Modern Wisdom

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

Jun 17, 2023

Bill Perkins, a hedge fund manager, poker player, and author of "Die With Zero," discusses the philosophy of maximizing life experiences through spending. He argues that accumulating wealth can lead to regret and encourages listeners to focus on 'memory dividends' through meaningful experiences. Bill shares insights on consuming at the right time, the dangers of extreme saving, and the importance of balancing ambition with personal connections. Embracing mortality motivates us to make fulfilling choices and enjoy life to the fullest.

01:52:39

Episode guests

Bill Perkins

AI Summary

Highlights

AI Chapters

Episode notes

Podcast summary created with Snipd AI

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 Importance of Getting the Order Right in Pursuing Life Goals

01:56

The Atrophy of Enjoying Wealth after Accumulating it

03:30

The Asymmetry of Taking Risks in Life

02:41

Intro

4min

The Urgency of Life Optimization

4min

Embracing Mortality as a Catalyst for Living Fully

5min

Maximizing Life's Fulfillment

19min

Investing in Experiences

11min

The Balance of Savoring Life and Saving

8min

The Pitfalls of the Sigma Grind Mindset

2min

Embracing Life's Timely Experiences

14min

Investing in Life and Health

21min

10.

Navigating the Risks of Flying: Personal Reflections on Aviation Safety

3min

11.

Balancing Work and Life Fulfillment

26min

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...

Sponsors:

Get 20% discount & free shipping on your Lawnmower 4.0 at https://manscaped.com/modernwisdom (use code MODERNWISDOM)

Get 15% discount on Mud/Wtr at http://mudwtr.com/mw (use code MODERNWISDOM)

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/

Learn more about your ad choices. Visit megaphone.fm/adchoices