All the Hacks with Chris Hutchins
Die With Zero: Net Fulfillment Over Net Worth with Bill Perkins
Episode guests
Podcast summary created with Snipd AI
Quick takeaways
- Optimizing for net fulfillment brings greater joy and satisfaction than maximizing net worth.
- Choosing experiences that provide immediate joy and create lasting memories is key.
- Organizing experiences based on timing and relevance maximizes fulfillment throughout life.
- Overcoming objections and quantifying risks and benefits allows prioritizing fulfillment over fear.
Deep dives
Optimizing for Net Fulfillment
The guest recommends focusing on net fulfillment rather than maximizing net worth. By optimizing for net fulfillment, individuals can find the most joy and satisfaction in their lives.
Memory Dividends
Choosing experiences that provide both immediate joy and long-term fulfillment is crucial. The concept of memory dividends emphasizes that experiences not only bring happiness at the moment but also create lasting memories that continue to bring joy when recalled.
Bucketing Experiences
Organizing experiences into different time periods or seasons allows individuals to make better choices about when to engage in certain activities. By considering the timing and relevance of experiences, individuals can maximize their fulfillment throughout their lives.
Overcoming Fear and Objections
Common objections to pursuing a more fulfilling life include the fear of running out of money or the fear of social judgment. By reframing these objections and quantifying the risks and benefits, individuals can make informed decisions that prioritize their fulfillment over fear.
Optimizing for Net Fulfillment
One of the main ideas discussed in this podcast episode is the importance of optimizing our lives for net fulfillment. The speaker explains that any kind of waste in our time or money leads to less fulfillment, so we need to continually ask ourselves if the activities and expenses in our lives truly fulfill us. They emphasize the need to assess the value of our time and make choices that result in maximum fulfillment. This involves considering the worth of our time and money when making decisions and seeking experiences that align with our values and bring fulfillment.
Allocating Resources and Experiences
The podcast explores the allocation of resources and experiences over the course of our lives to maximize fulfillment. The speaker suggests assessing our survival needs first, ensuring we have enough to cover basics like food, shelter, and clothing. Once survival needs are met, we can allocate resources towards experiences that bring us fulfillment. The speaker highlights the importance of considering the optimal timing of experiences, understanding that some activities are best enjoyed in specific time periods. They encourage individuals to focus on spending resources on fulfilling experiences rather than accumulating wealth for the sake of accumulation.
The Importance of Health and Diagnostics
The podcast emphasizes the significance of health in maximizing fulfillment and extending the ability to engage in fulfilling activities. The speaker stresses the importance of regular exercise, maintaining a healthy weight, and reducing sugar intake. They discuss the value of diagnostic tests and exploration of preventative measures. The speaker highlights the impact of early detection in preventing the progression of diseases and ailments. They mention the potential benefits of advanced health diagnostics, such as MRIs and genetic testing, to identify areas for improvement and optimize overall health.
Suggestions for a Fulfilling Experience in St. Bart's
The speaker shares recommendations for enjoying a fulfilling experience in St. Bart's. They suggest staying at Flaman's Beach, Grand Col desaac, or Eden Rock and exploring the beautiful beaches of the island. They recommend renting a convertible car and driving around to experience different areas of the island. The speaker suggests visiting various restaurants along the beach and enjoying the French cuisine. They mention the vibrant nightlife in Gustavia and the opportunity for activities like kite surfing and paddleboarding. The speaker emphasizes the blend of natural beauty, French culture, and opportunities for relaxation and exploration in St. Bart's.
#91: Hedge fund manager and author, Bill Perkins, joins Chris to talk about what it actually means to die with zero. They discuss why you should focus on net fulfillment in each stage of life, what types of experiences to prioritize, banking memory dividends, questions to ask yourself in order to make the best choices about spending your money, solving for maximum fulfillment, and so much more.
Bill Perkins (@billperkins) is a successful hedge fund manager and energy trader whose mission is to guide people to focus on living their richest lives now. His book is Die with Zero: Getting All You Can from Your Money and Your Life.
Full show notes at: https://allthehacks.com/die-with-zero-bill-perkins
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Resources Mentioned
All the Hacks is a Signal Awards finalist: Vote Now
Connect with Bill Perkins: Instagram | Website | Twitter
- Die With Zero: Getting All You Can from Your Money and Your Life
- Wealthfront Financial Utopia Number
- Calculate your biological age: Inside Tracker
- Full-body MRI Scan: Prenuvo
- Your Money or Your Life: 9 Steps to Transforming Your Relationship with Money and Achieving Financial Independence
- All the Hacks Newsletter
- Hacking Healthcare: Saving Money and Pushing Back
- All the Hacks Podcast
- #40: The Power of Regret, Motivation and Good Timing with Daniel Pink
Bill Perkins’ Saint Barthélemy Recommendations
- Beaches: Flamands Beach | Grand Cul de Sac Beach | Gouverneur Beach | Saline Beach | Shell Beach
- Hotels: Eden Rock | Le Barthélemy Hotel & Spa
- Resturants: Nikki Beach | Shellona | Tamarin St. Barth
- Gustavia Shopping
Full Show Notes
(00:00) Introduction to Bill Perkins
(01:36) Target Audience of Bill’s Book
(02:43) Defining Net Fulfillment
(03:25) Common Misconceptions About Retirement and Spending
(05:23) The Declining Utility of Money
(09:28) Anti-Bucket List vs. Bucket List
(11:59) Memory Dividend
(18:38) Remembering Bucketing Experiences
(20:11) Investing in Experiences Now
(23:38) Ideal Timing for Experience Bucketing
(26:12) Prioritizing Experiences for People in Their 20s and 30s
(28:21) Avoiding the Hamster Wheel
(33:14) Principles of Living an Optimized Life and the Five Whys
(35:09) Career Upgrade Advice from Bill
(38:55) Addressing Concerns About Future Finances
(39:54) Aligning Efforts with Goals
(42:07) Overcoming Fear of Failure
(44:08) Reframing Mindset to Minimize Regrets
(45:48) Embrace Bold Decisions
(46:55) Valuing Time and Fulfillment
(50:02) Navigating Spending: More or Less Money?
(54:46) Estimating Savings Goals and Stopping Points
(60:31) Present Actions for Future Benefits
(1:00:52) The Coke/Pepsi Taste Testing Experiment
(1:07:07) Exploring the FIRE Movement
(1:12:09) Building a Model for Net Fulfillment
(1:16:25) Overcoming Habits and Ego for Greater Opportunities
(1:18:52) Regular Review and Adjustment of Net Worth Goal
(1:22:20) Solving for Maximum Fulfillment
(1:27:01) Extending Quality of Life Through Healthier Habits
(1:30:39) Preventing Diseases Through Diagnostics
(1:35:28) Bill Perkins’ Recommendations for Saint Barthélemy
Connect with All the Hacks
All the Hacks: Newsletter | Website | Membership | Email
Chris Hutchins: Twitter | Instagram | Website | LinkedIn
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