“Die with Zero” by Bill Perkins: Millionaires Only, Please!

Bill Perkins’ Die with Zero presents a bold idea: spend your money in ways that maximize life’s experiences instead of hoarding wealth for an uncertain future. While the book contains nuggets of wisdom for certain audiences, it falls short for others, particularly those early in their financial independence journeys. Let’s break it down into what works, what doesn’t, and who this book might truly benefit.

The Good: Why Die with Zero Might Inspire You

1. Life Is for Living, Not Just Saving
   Perkins challenges the all-too-common mindset of relentless saving. He encourages you to align your money with your personal goals and maximize happiness by investing in experiences. For someone financially secure, this is a valuable reminder to enjoy the fruits of their labor.
2. The Time Bucket Strategy
   Life’s stages come with unique opportunities. Perkins suggests dividing life into “time buckets” and filling each with appropriate experiences. For example, adventure travel might belong in your 20s and 30s, while reflective, slower-paced pursuits are better suited to your later years. This structured approach is a practical way to think about designing your life.
3. Prioritizing Memory Dividends Over Material Goods
   Experiences often leave lasting memories that compound in value over time—what Perkins calls “memory dividends.” This perspective encourages prioritizing experiences over possessions, which aligns with the idea that money can buy happiness if spent wisely.
4. A Fresh Take on Legacy
   Perkins argues that giving while alive is more impactful than leaving a large inheritance. Helping children with education or home-buying when they need it most resonates with a mindset of sharing wealth when it has the greatest value.

The Bad: Where the Book Falls Short

1. Consumption Smoothing is Risky
   Perkins’ idea of balancing savings and spending throughout life sounds great—until reality sets in. This concept neglects the ebb and flow of income and expenses, ignoring that high-earning years are the best time to save. For those just starting out, the advice to spend freely can be financially destructive.
2. It Undermines Compound Interest
   Perkins shares a story where, as a young errand boy, his boss called him “dumb” for saving $1,000. This anecdote dismisses the power of compounding, a cornerstone of financial independence. Saving early can grow wealth exponentially, providing security and freedom later.
3. The Stress of Being Broke
   While spending freely sounds liberating, it glosses over the anxiety of financial instability. Being broke doesn’t feel good, and the emotional toll of living paycheck to paycheck far outweighs the temporary joy of splurging.

The Reality: Is Die with Zero for You?

1. A Disconnect Between Message and Messenger
   The book can sometimes feel like a “country club steam room” conversation, aimed at a wealthy audience far removed from everyday financial struggles. However, much like Rich Dad Poor Dad, the value lies in the core message, not the messenger. Readers can benefit most by setting aside the author’s affluent background and asking how the principles—like prioritizing experiences and living intentionally—might apply to their own lives. While the delivery may feel out of touch, the lessons can still offer insights for shaping a meaningful financial journey.
2. Misaligned Audience
   • For the Wealthy: The book offers solid advice for those who’ve already achieved financial independence and are seeking to enjoy life without excessive savings.
   • For Beginners: For someone starting their financial journey, the advice is risky. Building wealth requires saving, investing, and delaying gratification—principles Bill Perkins largely dismisses.
   • For the FI Community: While some principles align with financial independence, such as enjoying life earlier, the book risks undermining foundational habits like frugality and consistent investing.

Final Thoughts: Who Should Read Die with Zero?

If you’re financially independent or wealthy and looking for ways to enjoy your money more intentionally, this book could shift your perspective. But if you’re just starting your journey to financial independence or navigating the complexities of budgeting, saving, and investing, Die with Zero may be more harmful than helpful.

Ultimately, the takeaway is to balance enjoying the present with securing your future. Spend thoughtfully, save intentionally, and design a life filled with both financial freedom and rich experiences.