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Recently, our expert network team discussed a best-selling book, Die with Zero, by Bill Perkins. This is the first in a series of podcasts about leaving a legacy. I hope you enjoy listening to them! You can catch us anywhere you listen to podcasts: Apple, Spotify, YouTube, and more.
Bill Perkins book argues that we should die with no money left in our accounts. Instead, we should spend all that money on experiences with the people who we love. It is a radical idea, but one that many of our clients joke about. After all, the kids have all they need! They are doing fine! Let’s enjoy this money.
Bill brings up some questions that we discuss in our podcast. Here are a few of them you may want to consider:
- How much would you like to leave to your loved ones? What else, other than money, would you like them to carry forward?
- How do you do this?
- How do you keep them from being spoiled?
In the book, Bill Perkins makes the case that people are saving too much money and not spending enough money to create memories with their loved ones. While we are alive, we should do things with the people we love, and help the people we love financially, so that we can enjoy “memory dividends” later in life.
I think each of us works towards finding a balance between what we want today, and what we want to keep just in case we need it, and what we want to outlive us.
The expert network team consists of Jeff Krommendyk, insurance expert, Nathan Merrill, estate attorney and myself, a Certified Financial Planning practitioner. I hope you enjoy!
