Die With Zero: Net Fulfillment Over Net Worth with Bill Perkins

All the Hacks with Chris Hutchins

Chris Hutchins

Business, Education, Investing, Society & Culture, Places & Travel, Self-improvement

4.7 • 1.4K Ratings

🗓️ 7 December 2022

⏱️ 100 minutes

🔗️ Recording | iTunes | RSS

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Summary

#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 Partner Deals Inside Tracker: 20% off personalized wellness & nutrition plans backed by science MasterClass: Learn from the world's best and buy one get one free Daffy: Learn more about charitable tax savings with a special offer Vuori: 20% off the most comfortable performance apparel I've ever worn Selected Links From The Episode 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 Introduction to Bill Perkins (00:00) Who is the target audience of Bill’s book? (01:36) Defining net fulfillment (02:43) Common misconceptions people have about retirement and spending (03:25) The declining utility of money (05:23) Anti-bucket list: bucketing things vs a bucket list (09:28) What are you saving for? (Memory dividend) (11:59) Remembering your bucketing experiences (18:38) Start investing in your experiences now (20:11) How far in advance should you bucket your experiences? (23:38) Advice for people in their 20s and 30s on what experiences to prioritize (26:12) Chris’ backpacking trip (27:23) How to avoid getting caught in the hamster wheel (28:21) Principles of living an optimized life and the five whys (33:14) Bill’s advice to people who are contemplating a career upgrade (35:09) Solutions for people who are concerned about not having enough money later in life (38:55) Attach your efforts to your goals (39:54) Letting go of fear associated with failure (42:07) Reframing your mindset and minimizing future regrets (44:08) Do the bold thing (45:48) Determining the value of your time and fulfillment (46:55) Should you spend more money? Less money? (50:02) Estimating how much money you need, and when you can stop saving (54:46) Doing it now benefits you later (60:31) The Coke/Pepsi taste testing experiment (1:00:52) Deconstructing what you love about your job (1:41:07) Fire Movement (1:07:07) Building a model spreadsheet for net fulfillment and the downside of front-loading retirement (1:12:09) Getting past your habits and ego in exchange for more choices and opportunities (1:16:25) Habitually reviewing and readjusting your net worth goal (1:18:52) Solving for maximum fulfillment (1:22:20) Experiencing fulfilling opportunities and extending quantity and quality of life by practicing healthier habits (1:27:01) Thwarting many diseases and ailments through diagnostics (1:30:39) Bill Perkins’ Saint Barthélemy recommendations (1:35:28)

Transcript

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0:00.0	Hello, and welcome to another episode of All the Hacks, a show about upgrading your
0:05.2	life, money, and travel.
0:06.6	If you're new here, I'm your host, Chris Hutchins, and I'm a diehard optimizer who loves doing
0:10.7	all the research to help you get the best experience in life without necessarily an expensive
0:15.2	price tag.
0:16.2	Though, here's a thought experiment.
0:18.4	Imagine that one day you die and you have all this money in your account, but actually
0:22.9	you don't.
0:23.9	How does that feel?
0:24.9	You die with zero?
0:25.9	Scary?
0:26.9	Like, you did something wrong?
0:27.9	Exactly what today's guest recommends.
0:30.2	He's Bill Perkins, a longtime hedge fund manager and energy trader who's written a book called
0:34.2	die with zero, getting all you can from your money and your life.
0:38.2	I loved the book.
0:39.8	You might have a lot of objections to his concept, and I actually did before I read it, but
0:44.0	now I'm a huge convert, so we're going to dive into all of it.
0:47.4	We're going to talk about what it actually means to die with zero, why you might want
0:50.6	to stop maximizing net worth and focus on net fulfillment, why you should bank memory
0:55.0	dividends and the ways to do that for maximum ROI, why Bill thinks contrary to financial
1:00.6	advice, you should save less money when you're young, why you should think about your
	...

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