Money is a tool to help you live your great life
Bill Perkins’ Die With Zero challenges the conventional wisdom about saving, spending, and planning for retirement. Instead of focusing on amassing the largest possible nest egg, Perkins argues that the true goal of money is to maximize life experiences and die having lived fully—not with a fortune left unspent.
The book’s main message is simple but powerful: you should strive to “die with zero.” This doesn’t mean being reckless or irresponsible with money. Rather, it’s about aligning your financial choices with your life-stage goals, and spending money when it can create the most joy and meaning in your life. Saving endlessly for the future and intentionally or unintentionally becoming a money hoarder, only to run out of health, energy, or time to enjoy the money you’ve accumulated, can result in regret.
Perkins’ book provides a perspective of how to use money as a tool to live your great life as you define it, not a scoreboard to measure success. It’s important to note that he is not advocating for spending above your means or recklessly, rather he emphasizes “investing” in what matters most to you and collecting the “dividends” that come from the memories, experiences, and opportunities to make an impact.
The Three Currencies of Life: Money, Time, and Health
Perkins explains that life is governed by three resources:
- Money – which usually grows over time if managed well. I would add that optimizing and maximizing your career asset plays a pivotal role in this.
- Time – which is limited and always shrinking.
- Health – which inevitably declines with age.
The challenge comes in balancing these three. Many people save aggressively during their healthiest years but postpone experiences until retirement, when health or mobility may limit what’s possible. By then, opportunities for adventure, learning, and growth may have already passed.
When you spend money on experiences—such as travel, education, or shared adventures—you not only enjoy them in the moment, but you also collect lasting memories that continue to enrich your life for decades. These “memory dividends” can even compound, as stories are retold and bonds are deepened.
For example, a trip with friends in your 20s may pay “experience dividends” throughout your lifetime, whereas money saved at that age will simply blend into your overall wealth without delivering enrichment and joy.
Avoiding the “Too Late” Trap
Perkins warns about the danger of waiting too long to pursue meaningful experiences. Many people delay dreams until retirement, assuming they will have the time, health, and energy later. The book argues for matching activities to the right phase of life:
- In youth and early adulthood, prioritize physically demanding adventures.
- In middle age, focus on family, career, and experiences with loved ones.
- In later years, emphasize meaning, reflection, and legacy.
By tailoring spending choices to life stages, you avoid the pain of discovering opportunities have slipped away.
Giving While Living, Why Wait Till You’re Dead
A distinctive part of Perkins’ philosophy is the idea of giving money away during your lifetime, rather than waiting to pass it on through inheritance. A dollar given to your children when they are in their 20s or 30s—starting careers, buying homes, or raising families—is far more impactful than receiving that same dollar decades later. And you get to be present for the experience opportunities that spring from it.
Similarly, charitable giving during your life allows you to see and feel the impact of your generosity.
A long-time client who has given us permission to share her story, made this concept a reality. As a former music professor at UW-Parkside, Fran Bedford felt called to improve the program following her retirement from teaching. She initially envisioned contributing toward practice rooms where music students could hone their craft. Her idea, along with the size of her donation, grew to eventually bring about the Frances Bedford Concert Hall in the Rita Tallent Picken Regional Center for Arts and Humanities at Parkside. Fran was able to enjoy the impact of her donation to students and the community for years prior to her death in 2023. A talented harpsichordist, Fran even played several concerts in the performance hall bearing her name.
The approach of giving while living encourages intentionality in how wealth is distributed and ensures that money has the greatest effect when it is most useful and when it can be enjoyed by both the giver and the receiver.
The Fear of Running Out
A natural concern with this philosophy is the fear of outliving one’s resources. Perkins acknowledges this and suggests practical strategies: using annuities, insurance, and careful financial planning to cover your financial needs late in life. Once essential expenses are secured, remaining resources can be devoted to experiences that satisfy your definition of a great life. That may mean putting aside portions to pass along to your heirs, for charitable gifting, and for various experiences that enhance your and your loved ones lives.
By planning around realistic life expectancy and ensuring appropriate safety nets, the risk of running out is minimized while the potential for regret-free living is maximized.
Changing the Scorecard
At its heart, Die With Zero challenges readers to rethink what success looks like. In traditional financial planning, the scorecard is often the size of one’s estate or the wealth passed on to heirs. Perkins shifts the measure of success to how well you’ve used money to enhance your life and the lives of others while you’re alive.
This perspective prioritizes joy, connection, and purpose over accumulation. It reminds us that money is not an end in itself—it is fuel for a meaningful life.
Key Takeaways
- Don’t hoard wealth for the sake of it. Use it to create experiences when they matter most.
- Balance money with time and health. Spending at the right life stage creates more lasting value than saving indefinitely.
- Invest in experiences. Memories continue to enrich your life long after the money is gone.
- Avoid waiting too long. Match your spending and adventures to your age and abilities.
- Give while living. Support children and causes when your contributions make the greatest difference.
- Plan wisely. Protect yourself against living too long, but don’t let fear prevent you from living fully.
Conclusion
Die With Zero is less about finances than it is about life philosophy. Bill Perkins challenges readers to reframe their relationship with money, shifting from accumulation to intentional living. By focusing on experiences, relationships, and meaningful giving, we can ensure that our lives are rich—not just in dollars, but in memories and impact.
Ultimately, the book reminds us that the true tragedy isn’t running out of money, but running out of life before we’ve truly lived. Careful, thoughtful financial life planning can help ensure that your money is a tool you can use for your great life.
note: this summary has been written with the assistance of AI-generated content.
