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So Money with Farnoosh Torabi

1077: The Case for Spending All Your Money Before You Die with Bill Perkins, Author of Die with Zero

So Money with Farnoosh Torabi

Farnoosh Torabi

Entrepreneurship, Business

4.71.9K Ratings

🗓️ 3 August 2020

⏱️ 30 minutes

🧾️ Download transcript

Summary

In his new book, Die with Zero, Bill Perkins challenges the notion of passing down your wealth. In fact during a health screening, his doctor asked in the evaluation about financial stress: “Do you have fears of running out of money?” Bill said, “I hope I run out of money!” We discuss the merits of spending more money in your living years, how to calculate getting to "enough" net worth and how to balance taking care of children and dependents with the notion of dying with zero. Bill is the CEO of BrisaMax Holdings. After training on Wall Street, he made his fortune in Houston as an energy trader. He has been Reuters, Financial Times, TIME magazine, Cigar Aficionado, BusinessInsider, and appears frequently on CNBC. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

So Money

0:00.5

Money episode 1077 Bill Perkins, author of Die With Zero.

0:05.0

You're listening to So Money, with award-winning money guru Farno Shkorabi.

0:11.0

Each day get a 30 minute dose of financial inspiration from the world's top business minds, authors, influencers, and from Farnuus yourself.

0:20.0

Looking for ways to save on gas or double your double coupons?

0:24.0

Sorry, you're in the wrong place.

0:27.0

Seeking profound ways to live a richer, happier life.

0:30.0

Welcome to So Money.

0:32.0

The current pandemic, it's an afflict Welcome to So Money.

0:37.0

The current pandemic, it's an unfortunate way to get people off autopilot. You know, a lot of people get good at their jobs in order to become successful and that becomes a habit and that habit keeps them on

0:44.9

autopilot getting better and better and doing that thing where we don't pay attention

0:48.6

to the reasons why we're doing that thing.

0:52.3

In what ways has the pandemic had you rethinking your financial life?

0:56.6

Welcome to So Money, everybody.

0:58.1

I'm your host, Farnish Terabi.

0:59.9

You just heard from our guest today, Bill Bill Perkins who is a longtime investor and

1:04.2

entrepreneur and now the author of a book called Die with Zero which reexamines

1:10.4

how many of us have been approaching our financial lives, get a job, work, work,

1:16.0

work, safer retirement, die, and then hopefully leave family independence some sort of an inheritance. a financial legacy so to speak.

1:24.3

To be honest it's something that I sort of aspired to and now that thinking has changed.

1:29.4

In Bill's book, Die with Zero, Getting All You Can from Your Money and Your Life, he strongly opposes

1:35.6

this long-held notion and argues that we should give money to our kids when they're young,

...

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