On "Dangerous" Financial Advice, Downsizing, and Dying with Zero
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Feb 5, 2025
Explore the hottest debates on financial advice and audience reactions to contentious topics. Delve into the significance of community in redefined wealth and the role of financial planners in major life choices. Discover intriguing insights on body image, health narratives, and the impact of societal expectations. The hosts also discuss the potential for creating a community space for thoughtful financial discussions, emphasizing personal values and the importance of questioning traditional money management norms.
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insights INSIGHT
Budgeting and Risk
Listeners felt strongly about the potential dangers of not budgeting.
Katie Gatti-Tossan believes this stems from the inherent risk in our financial system.
volunteer_activism ADVICE
Die with Zero Planning
Amend your Wealth Planner for a 'Die with Zero' strategy by adjusting your retirement year earlier than your FI date.
This helps project a drawdown and slower investment growth.
question_answer ANECDOTE
Dave's Financial Rollercoaster
A listener named 'Dave' achieved financial security but then faced a series of personal and financial crises.
This led him to re-evaluate his priorities, emphasizing family and community over material wealth.
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Die with Zero presents a provocative philosophy and practical guide on how to get the most out of your money and your life. Bill Perkins argues against over-saving and under-living, advocating for investing in experiences early and maximizing positive life experiences. The book introduces concepts like 'time-bucketing,' 'net worth curve,' and 'fulfillment curve' to help readers optimize their life stages and make the most of their resources. Drawing from his own life experiences and insights from psychological science and behavioral finance, Perkins makes a compelling case for living large and accumulating memorable experiences rather than wealth.
It's our first newly revamped Rich Girl Roundup of 2025, and we’re taking you on a scenic guided tour of the chatter spurred from recent episodes: our most contentious episode to date, one that generated moving revelations from listeners, and the two-part series that ended up being less polarizing than we expected.
We also discuss how to jerry-rig your Wealth Planner to project a “Die with Zero”-style drawdown, by popular demand—as well as the potential for a book club or community.
(00:00) Introduction to the new Rich Girl Roundup format
(03:59) General feedback we've heard recently
(12:55) Feedback on the "You Don't Need a Budget" episode
(28:27) Amending your Wealth Planner to "Die with Zero"
(34:45) Two moving emails from a listener, several years apart
(41:19) Feedback on the "What's Next for Money with Katie" episode and downsizing
(47:29) The possibility of a Money with Katie book club or community
(50:37) Feedback on the GLP-1 weight loss drugs series
Money with Katie’s mission is to be the intersection where the economic, cultural, and political meet the tactical, practical, personal finance education everyone needs.
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