Book discussion: Die With Zero by Bill Perkins

[biophase]

Off topic: Is it new? I was looking into 4Runners but it seems Toyota is way behind with technology.

It's a 2018, but it looks the same as a 2023. They haven't updated the model. Yes, it is lacking in alot of areas compared to new cars, but going off-road isn't one of them. And Colorado off roading is the main reason I have one and not a luxury vehicle.

 

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[Goodfella999]

Im not yet in this class of people, but interesting topic to think about...

 

[doster.zach]

Im not yet in this class of people, but interesting topic to think about...

I think this book applies to everyone of all ages and class/wealth.

Perkins emphasizes the early 20s backpacking trips where you are willing to spend very little and travel across the world to gain many memories.

He also criticizes the idea of pinching pennies to put into your savings early in life, and focus on memories and becoming a better earner.

 

[MJ DeMarco]

Im not yet in this class of people, but interesting topic to think about...

You should think about it because you're likely young and vibrant.

Having a membership to the best ski resort in the world doesn't mean as much when you're 55 and struggle to climb a flight of stairs, versus 35. Experiences are more available and heightened when you're young and money has more value. Money has less value as you age. Dying with millions equates to an incredible amount of memory and experiences left on the table.

 

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[MJ DeMarco]

Me too.

You mean your supercar phase? If so, what are your reasons? Attention? Time cost? Drama?

 

[biophase]

You mean your supercar phase? If so, what are your reasons? Attention? Time cost? Drama?

I still like them very much. But I get no pleasure from driving them. There's no excitement in going fast in a straight line for 3 seconds. I'd actually become one of those guys who would want them just to look at them. So right now, I don't have any garage space for any. But once I get a place with a 5-10 car garage I'll be getting some older classics.

But having said all that, it also would annoy me every time I pay a registration, insurance or maintenance bill for something that would just sit in the garage. Feels like a waste of money.

 

[MJ DeMarco]

I still like them very much. But I get no pleasure from driving them

Agreed, I'd love to throw a new Lamborghini in my living room.

 

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[fastlane_dad]

You mean your supercar phase? If so, what are your reasons? Attention? Time cost? Drama?

I still like them very much. But I get no pleasure from driving them. There's no excitement in going fast in a straight line for 3 seconds. I'd actually become one of those guys who would want them just to look at them. So right now, I don't have any garage space for any. But once I get a place with a 5-10 car garage I'll be getting some older classics.

But having said all that, it also would annoy me every time I pay a registration, insurance or maintenance bill for something that would just sit in the garage. Feels like a waste of money.

Agreed, I'd love to throw a new Lamborghini in my living room.

After cycling through a half dozen or so exotics I have also put a pause on it.

Especially when you focus on the 'dad' part of (fastlane_dad), it becomes nothing more than a sitting ornament in the garage. Paying registration, insurance, and potentially swallowing some depreciation costs doesn't help the case either.

Scottsdale has also gotten ridiculously busy, with worse and worse driving that I see on the roads daily. In order to properly enjoy a supercar, you really need to dedicate 1/2 day to it, and go north to get out of the congestion. That doesn't help the situation either.

I haven't fully ruled it out yet, and they might come back once kids are a bit older to enjoy them with me.

BUT -- I am beyond happy and thankful that I got to experience some of the coolest cars made on earth, at the time that I did.

By far some of the proudest moments of my fastlane journey.

 

[Fox]

After cycling through a half dozen or so exotics I have also put a pause on it.

Especially when you focus on the 'dad' part of (fastlane_dad), it becomes nothing more than a sitting ornament in the garage. Paying registration, insurance, and potentially swallowing some depreciation costs doesn't help the case either.

Scottsdale has also gotten ridiculously busy, with worse and worse driving that I see on the roads daily. In order to properly enjoy a supercar, you really need to dedicate 1/2 day to it, and go north to get out of the congestion. That doesn't help the situation either.

I haven't fully ruled it out yet, and they might come back once kids are a bit older to enjoy them with me.

BUT -- I am beyond happy and thankful that I got to experience some of the coolest cars made on earth, at the time that I did.

By far some of the proudest moments of my fastlane journey.

Love that car!

 

[BaiAnrui]

I'm halfway through this book, but I find it very interesting. I'm definitely not a spender, but I'm not a saver either. Reading this book made me think that I'm a little too tilted towards the saving side considering my age and net worth.

Anyone else here read it yet?

Die with Zero: Getting All You Can from Your Money and Your Life: Perkins, Bill: 9780358099765: Amazon.com: Books

Great book, am reading it for the second time now. Provides good insights into how to deal with money differently, and that it is about experiences. I found it very useful.

 

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[Happyheart]

Great book, am reading it for the second time now. Provides good insights into how to deal with money differently, and that it is about experiences. I found it very useful.

The important thing will be, to actually achieve it. My uncle saved a million and when he died we fiund that he had participated in courses like „how to transfer your inheritance without taxes“, but… he never did something about it. Just imagine 40% of his hard-earned inheritance went to the IRS and half of the rest to his 2 childless siblings, also in their nineties, wich will make the IRS happy with the same procedure in the future…

 

[YanC]

That was a very good end of the year read. It definitely challenged some beliefs, especially about proactively defining what experiences you want to have in your life (and particularly WHEN), when to give money to your heirs (I had never thought about it this way) and being fine with spending money.

I feel much more time-conscious after reading it too. I'm not sure I'm ready to use this app that reminds you how long you have before you die every time you open a new tab in your web browser, but even if it feels a little bit uncomfortable at first, there is value in being aware of the finitude and brevity of (healthy) life.

I had posponed reading it for a little while as I thought it only applied to people who already have made their wealth and I was wrong. Whatever the stage of your journey you are at now, it is good to have these principles in mind, which by the way align very well with the fastlane ideas (getting wealthy relatively early from a business obviously leaves you with many more options regarding life experiences).

 

[Tiago]

So far I've been loving the book.

It's not mind-shattering, but more confirming of a few things I was already trying to implement.

For example, I've decided that for the next year I will only work four days/week. This will force me to be more selective and productive whenever I am working, and free up an extra day a week to learn sailing, which is something that's been on my mind for the past few years.

I'm also making decisions with my girlfriend to make long trips (3-6 months in another country) by the end of this year.

We want to do this before we have kids.

Bill also mentions the time bucket list. I've been creating that and it's been very insightful to understand which experiences make sense and when. For example, I can easily do a cruise on the fjords of Norway at 60, whereas my plan of learning to free dive makes more sense now, when I'm younger.

Thank you @biophase for the recommendation!

 

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[biophase]

Me too. I'm driving a lifted 4runner now with big tires and it's amazing how many compliments I get on it by high school kids. Kind of surprising to me.

So today I’m driving in my 4Runner. The passenger in the car next to me rolls down his window and I roll down mine and he says, “nice truck, what’s the retail on one of those?” And of course I answer “More than you can afford pal.”

But then I paused because I didn’t know if I should say Ferrari or Toyota next. And they drove away.