The Biggest Money Mistake Is Not What You Think | Bill Perkins

The Daily Motivation

Lewis Howes

Education, Self-improvement

4.8 • 893 Ratings

🗓️ 13 December 2025

⏱️ 7 minutes

🔗️ Recording | iTunes | RSS

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Summary

Most people spend their lives terrified of running out of money, but Bill Perkins says that's the wrong fear. The real psychological crime is saving every dollar for a future where your body can't climb the stairs anymore, where the experiences you're postponing become physically impossible, where you've traded your peak years for a bank account you'll never fully enjoy.

Transcript

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0:00.0	Hi, my name is Lewis Howes and welcome to the Daily Motivation Show.
0:12.4	What do you think is the biggest psychological crime someone can make when it comes to their money?
0:19.3	I think the biggest psychological crime is people fear of running out of money instead
0:23.8	of fear of wasting their life.
0:25.7	Oh.
0:26.7	And so, you know, they have this fear of embarrassment of like, I'm going to run out of
0:31.0	money and I'm going to be broke or I'm going to do X, Y, and Z.
0:34.4	Instead of fear like, I am wasting my life.
0:37.3	I have for the, we were talking about the 20 to 30 bucket, I'll just, you know, this is it.
0:43.6	This is the only period I'll be 20 to 30.
0:45.9	There are certain activities, experiences that are meant for this bucket, right?
0:51.7	People are marketing services and products to you.
0:53.8	You know that they're there, right? Like, I don't want to do them. Like, go have fun, right? People are marketing services and products to you. You know that they're there, right?
0:55.0	Like, I don't want to do them. Like, go have fun, right? But, but, and you only get one shot,
1:01.0	one go around, you know? And so, and they're worried about, you know, in the 30-40. So,
1:07.0	I think people worry about embarrassment, what other people think, judgment about their
1:13.0	lifestyle or them failing in the future, et cetera, as opposed to worrying about, like, I don't
1:17.0	want to waste this ride. And it's not even the ride for the whole life, every single period
1:22.3	of your life. So if you're a parent with small children, not wasting that period, With teenagers, I know a lot of us would
1:29.2	like to waste that period and just be like, get married, but that period. And then, you know,
1:34.1	eventually you don't have kids in a house anymore. And that's a different period in your life. And
1:37.9	there's different activities and different opportunities that go. And I often say, um, life is like
	...

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