Reframing Wealth: Lessons from Die With Zero
Earlier this year, a client recommended a book called Die With Zero by Bill Perkins. The title alone is provocative, but the message is worth exploring. While I disagree with some of Perkins’ framing and a few of his conclusions, he offers powerful lessons about how we think about money and life.
Many people fear that when they meet with a financial advisor, they’ll be told to spend less and save more. Their instinct is that enjoying wealth today will conflict with being responsible tomorrow. Perkins challenges that fear head-on. His central idea is simple but profound: the goal isn’t to maximize wealth, but to maximize life experiences. Money is a tool — not a scorecard.
In my view, that’s what good financial advice is really about: helping you enjoy your wealth over time, balancing today’s joys with tomorrow’s security.
Saving too much can rob us of the present. Saving too little can jeopardize independence later in life. Striking the right balance is easier said than done, but Perkins’ framework gives us a helpful lens.
Here are a few of the mindset shifts he encourages:
· Get out of the “accumulate forever” mindset.
Many retirees find it hard to spend after decades of saving. Perkins even makes a case for annuities — a surprising stance for a hedge-fund manager — noting that people are more comfortable spending income than principal. Turning savings into predictable income can unlock freedom.
· Think of wealth as “experience units.”
Money represents stored potential for enjoyment. Dying with too much of it unused means those potential experiences were never lived. Perkins reminds us that many experiences are best enjoyed when we’re younger and healthier, not deferred indefinitely.
· Be intentional — in saving and spending.
Have clear goals for your saving, and be strategic — not reckless — about when and how you use it. Aim for deliberate enjoyment, not impulsive consumption.
Where Perkins falls short, in my opinion, is in assuming everyone shares his value system. Not everyone defines fulfillment the same way, and many people value legacy just as much as personal experience. His response — “why not give while living?” — is compelling in theory but underestimates the real fear of uncertainty. The average successful family in their 50s isn’t eager to give away large sums when longevity, health, and future costs are unknowable.
We planners call the typical pattern of retirement spending the retirement smile: expenses stay steady at first, then dip, and often rise again later due to healthcare and long-term care costs. Perkins acknowledges this by recommending long-term care insurance, but even then, it’s hard to predict how much will truly be needed decades ahead.
Even so, his book succeeds where it matters most — reframing how we think about wealth. If Die With Zero helps people become more intentional, less fearful, and more joyful in spending what they’ve earned, then it’s a message worth hearing.
If you haven’t scheduled your review yet, here’s the link:
www.calendly.com/andreweppes/review
Let’s talk about enjoying your wealth — now and in the future.
Andrew Eppes, CFP®
Andrew Eppes is a registered representative of and offers securities and investment advisory services through MML Investors Services, LLC. Member SIPC. www.SIPC.org. Nexus Advisors, LLC is not a subsidiary or affiliate of MML Investors Services, LLC, or its affiliated companies. 14241 Dallas Parkway Suite 1200 Dallas, TX 75254 972-348-6300. The views and opinions expressed are of Andrew Eppes only. They are not necessarily those of MML Investor Services, LLC. CRN202810-9661787