Realm of wisdom's Key Ideas from Die with Zero
by Bill Perkins

If you spend hours and hours of your life acquiring money and then die without spending all of that money, then you’ve needlessly wasted too many precious hours of your life.

If you die with $1 million left, that’s $1 million of experiences you didn’t have.

People avoid the subject of death, they behave as if it’s never coming, and too many don’t plan for it.

Death and deterioration are real for everyone, so the date of your death in the future should affect what your behavior is now.

If you’re nervous about someday running out of money before you die, then spend some time looking at annuities as a possible solution.

That way, you’ve already separated out their money from your money, which is what you must spend down to zero.

Whatever you give your heirs past their optimal age of receiving has less value to them.(26-to-35 age range)

Spend your money while you’re alive—whether it’s on yourself, your loved ones, or charity.

Strike the right balance between spending on the present (and only on what you value) and saving smartly for the future.

People who spend money on time-saving purchases experience greater life satisfaction, regardless of their income.

If you pay to get out of doing tasks you don’t enjoy, you are simultaneously reducing the number of negative life experiences and increasing the number of positive life experiences.

We all die a multitude of deaths throughout our lives.

Draw a timeline of your life from now to the grave, then divide it into intervals of five or ten years.

Each of those intervals — from age 30 to 40, or from 70 to 75 — is a time bucket, which is just a random grouping of years.

Then think about what key experiences — activities or events — you definitely want to have during your lifetime.

For most people, the optimal net worth peak occurs at some point between the ages of 45 and 60.

Once you’ve finally determined your net worth peak, you must start spending down, or decumulating.

This means you will be spending more in your real golden years, when you are in reasonably good shape in both health and wealth—between 45 and 60—than people usually do.

When you’re young, every risk you take can pay off in a big way if you succeed: Your upside is huge.

Bet when you have nothing (or little) to lose

When you’re older, some risks become more foolish than bold.