"She liked to give generous presents to her children and grandchildren on birthdays, gift-giving occasions-and whenever the mood struck her. I once asked her why she kept her loved ones so well-supplied in gifts, and she remarked, "Why should you be glad I'm dead?" In other words, she didn't see the point in holding onto the money that would come to her family anyway when she died."
"In many ways, Grandma embodied the die with zero financial planning philosophy popularized by Bill Perkins. This philosophy encourages people to enjoy their money while they live-ideally spending their final dollar just before kicking the bucket-because there's no point in being the wealthiest person in the cemetery. Considering the complexities of traditional financial planning-not to mention your understandable worries about running out of money in retirement-the die with zero philosophy may sound like a great way to live with low-grade anxiety during your golden years."
A practical approach to money emphasizes spending to create joy rather than accumulating wealth solely for inheritance. Generous, life-lived gifting can provide emotional satisfaction and avoid burdensome inheritances. The die with zero philosophy promotes using resources during life, ideally depleting assets before death to maximize enjoyment. Traditional retirement planning often fixates on saving and stokes fear of running out of money. Financial media frequently urges urgent accumulation, intensifying anxiety about future shortfalls. A balanced strategy can reconcile present enjoyment with safeguards that protect against depleting resources prematurely in retirement.
Read at Fast Company
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