September 13, 2026 • 15 mins
Most of us spend more than half of our lives trying to accumulate wealth, and then the last half we try to save what we have either to ensure we won’t run out or to leave all that earned income to our children. And while it still remains controversial, the push to “die with zero” money in your account is gaining steam, but experts say it’s harder than you may think. The concept is ideal: after working hard your entire life, you retire, and then you spend and enjoy that money until you last check bounces on the day you die. The problem, most people are too afraid of running out of money, they keep hoarding it and deny themselves the upgrades, travel experiences and ultimately, “under-living” their golden years.
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Speaker 1 (00:02):
Hey there folks, it is Sunday, September 17th, and whatever
you do, die broke. And with that, welcome to this
episode of Amy and TJ that I already am taking
issues with because of the last statement you said before
we started. You said we're doing it all wrong. People
over-save and under-spend. That sounds like the opposite of what
(00:25):
most people preach about how we handle our finances. We
spend too much, we go too much in debt. You're
saying there's a whole new problem out there we need
to pay attention to.
Speaker 2 (00:34):
Well, there are several folks who have spent their lives
either in fund management or studying this. And they say, yes,
we're always telling people save, save, save. And obviously that's
a good thing. Save, invest. But the reality is that
most people who have financial planning, I understand that there
are plenty of people out there who don't have the
(00:55):
luxury of having this problem. We'll start with that. Obviously,
fully understand that. But for folks who do have investment accounts,
for folks who do plan for their retirements. Those people,
most of them, the majority of those people die with
a full bank account and very few memories and experiences
to show for their money.
Speaker 1 (01:14):
A full bank account is one thing. How are they
able to, or what do they mean when they say
they die without full experiences, if you will, of the
money that they save?
Speaker 2 (01:24):
Because everyone spends, well, most people spend half their life
at least busting their butts, saving, investing, planning for the future, right?
Then you get to the point where you can retire
or you're close to it. And what do you do?
You start, you continue to invest and you scrimp and
you save. And maybe a lot of these folks, they
say live in big houses. So they've got some show
(01:46):
of their wealth. But now they're worried because now I'm
not bringing in the money. And so you get worried
about what's going to be left. And so then you
stop spending. You actually drastically reduce your spending and you
end up not going on those vacations, not spending money
on those experiences. And some people advocate not spending. actually
spreading your wealth to your children while you can actually
(02:08):
enjoy the fruits of your labor by seeing other people
enjoy it. Whether you're giving it to charity, giving it
to your family, people are saving because they're so afraid
they're not going to have enough that they end up
with too much money and not enough experience.
Speaker 1 (02:24):
That's a fine balance though, ain't it? Isn't that what
everybody does as soon as you retire? You got to
sit down and you got to do some spreadsheets. You
got to do some numbers and how long it'll be
alive and how many will go to this kid and
who's got to go to college and this grandkid. That
does make sense though, right? So you're saying we're getting
the equation wrong.
Speaker 2 (02:40):
Correct. So they say it's generally what's accepted. I didn't
realize this, but this has been fascinating to look into.
It's called the 4% rule. This is the rule that
a lot of financial advisors will give their clients saying
this helps seniors or folks who have retired safely draw
down their retirement funds without running out of money. over
a 30-year span or so. So the rule is to
(03:01):
withdraw 4% of your investment portfolio each year. But most
retirees don't even come close to the 4%. This is
according to plenty of folks who have, I can read
the nonpartisan nonprofit groups that have studied this. They say
about one third of retirees have 100% or more of
(03:22):
their initial retirement assets in their mid 80s.
Speaker 1 (03:26):
Some would say that was success. Wouldn't those 80-year-olds go, man,
I nailed that. Here I am, 85, still got all
that money.
Speaker 2 (03:38):
All right. But then what do you have to show
for it?
Speaker 1 (03:41):
But that's what I'm saying. In our minds, it's like
we're trying to get closer and closer to death day.
And still have the money.
Speaker 2 (03:49):
It's called hoarding.
Speaker 3 (03:50):
Yes.
Speaker 2 (03:50):
And the sad thing about that is you don't actually
enjoy the money that you spent your whole life making.
You're not living your life to the fullest. You're not
getting those experiences. And they talked about thinking about it
as a memory dividend instead of a financial one.
Speaker 3 (04:05):
I like that line. Memory dividend. That's pretty good.
Speaker 2 (04:08):
Think about all the joy. You get an amazing emotional
return here. Every time you recall or share your memories
of vacations that you spent, even when things went bad,
you did them together and you were enjoying it. And
people always say, oh, yeah, I'm going to take that.
We do this ourselves. We're going to take that African
safari or that trip to Southeast Asia in a couple
(04:29):
of years. And then it always is a couple of
years down the road because either it's too expensive or
you don't have enough time. But the problem is you
get to a point and all of a sudden you're 75,
you're 80, you're 85. You don't have the mobility that
you had. They said, think about it. When you're in
your 50s, that's the time to start spending because you've
still got physical, you know, you can go anywhere, you
(04:50):
can do anything. Most people have the stamina and the
excitement to go actually live your life. Bring your kids
with you. Bring your grandkids with you. Once you start
getting into your 70s and your 80s, You don't know
physically how you're going to be. And we all think
we're going to be one way, but we don't know.
And that is why several, several folks are, and there's
a book called die with zero, um, authored by Bill Perkins.
(05:13):
He was a Skylar capital founder, brilliant guy, but he
authored this book in 2020, but more and more people
are getting on board with this notion. Why are we
trying to hoard money for what? It doesn't make a
lot of sense. If the whole purpose of making money
is to enjoy your money, Why are we only saving
it and we're not spending it?
Speaker 1 (05:34):
How much of this has to do also with trying
to leave it for family members?
Speaker 2 (05:38):
Yes, but they said, actually, you're missing out on the
most beautiful thing of all. How awesome would it be
while you're still alive to create a fund for your
grandchild to go to school, to give your children a
down payment on their first home, to give them that
beautiful wedding that they wanted?
Speaker 3 (05:52):
Oh, you're saying they're not doing that?
Speaker 2 (05:54):
Right, because they're saving it for when I die, you'll
inherit this.
Speaker 3 (05:58):
Ah, got you.
Speaker 2 (05:58):
It's so much more enjoyable to actually... Give your children
the money while you can see them enjoy it.
Speaker 3 (06:05):
Okay, I like that.
Speaker 2 (06:06):
You're missing out on that joy that's right there. And yes,
you can make it so. Graduation gifts. Give them a
down payment. Give them a trip of the lifetime. And
then get to watch them enjoy it. That gives you
so much more pleasure. That means you've made your money
actually bring joy instead of create worry. And when people hoard,
(06:28):
it's never enough. You need more, you need more, you
need more.
Speaker 3 (06:31):
Well, they call it hoarding. Exactly.
Speaker 2 (06:33):
But I don't want, I think my mom, I've heard
her say this, like, I don't want to die sitting
on a mountain of gold protecting it. From what? From myself?
From my children? And they say COVID-19 actually shifted a
lot of people's planning and that's why we're seeing this
trend in die with zero because people realized things happen
(06:54):
and all of a sudden you don't get to do
the things you want. You can't spend the money you have.
And so all of a sudden people started valuing experiences,
started valuing working less because they realized that the world
can change in a split second. What are we doing?
Speaker 1 (07:09):
We are starting to shift to trim back the right
direction or the other direction.
Speaker 2 (07:12):
And that is the point. But listen to some of
these studies. And this is actually concerning. A 2026 Alliance
survey said nearly half of Americans, 48% of Americans, do
not have a written financial plan.
Speaker 3 (07:27):
What's the percentage? 48%.
Speaker 2 (07:28):
And they're saying, if you don't plan, you won't do this.
Like you actually have to be intentional about saying, I
am going to strategically spend and enjoy my money either
on myself or on my children or on my grandchildren
or on the charity that I love. But I am
going to experience the joy of spending that money while
I'm still alive and still capable of experiencing it. But
(07:51):
if you don't have a plan, You're not going to
do it. You're just going to save. You're not going
to actually be intentional. So they are encouraging folks to
actually sit down and say, what are we doing this year?
How are we spending our money this year? How are
we spending our money next year? I love that. Um,
how about this? A 2025 study in a financial planning
(08:12):
review said 65 year olds in married households with at
least a hundred thousand dollars in assets only withdrew a 2%
annually from their retirement savings. So the 4% rule, most
people are only drawing out 2%. And if you're a single,
it's even less. It's 1 point something percent. So it's
significantly below this 4% rule.
Speaker 3 (08:34):
But isn't there, I just think about a fear.
Speaker 1 (08:37):
You just said, we don't know what's going to happen,
which means I might need this money.
Speaker 2 (08:42):
That's why people do it. But the other way to
look at it is that fear is stopping you from
living your life, from enjoying your life. And the truth
is they say if you've got $ 100, 000 or more and
you stick to even the 4%, and that's doubling what
most people do, you will be able to have so
many more experiences and so much more freedom and joy
if you just spend more than you think you should.
(09:04):
And they said it's counterintuitive, but most people are not
crazy with their money. If they spent their whole life
building it, They're not going to be like, you actually
have to encourage people to spend money. They're not going
out and buying yachts. And they're even saying assets are
one thing. It's more about the experiences. That's what they're
saying is the more value, either in the giving of
(09:24):
the money or in the traveling experience. And the memories
that you create, it's, it's less about, they even said
some people will buy these big houses and then they
live in fear that they can't pay their bills. And
so they don't go on vacation. So they like create
their own jail, like their beautiful prison with some of
the money, but then they're afraid to go anywhere and
spend any more because, Oh, what if I can't pay
my mortgage? And you end up trapping yourself in a prison.
Speaker 3 (09:47):
It's a nice house.
Speaker 2 (09:48):
It's a nice house, but it's still a prison. Uh,
I think that's so interesting. And look, um, there are
some drawbacks but the big question is will die with
zero make you happy the experts say it will.
Speaker 3 (10:04):
It will uh okay well you're gonna tell me about
it when we come back.
Speaker 2 (10:09):
I'm gonna tell you all about it after the break
you have to.
Speaker 1 (10:11):
Be clear with the commercials baby i don't know when
to roll the music here We're back now from that
ill-advised break.
Speaker 2 (10:26):
We just, you know. I'll be more clear next time. Sorry.
Speaker 1 (10:29):
You know, that was the first time we've done, who
knows how many podcasts. That was the first time we
ever had a hiccup on a commercial.
Speaker 2 (10:35):
You looked at me. I was like, yeah, I just
threw the brake. I thought.
Speaker 3 (10:38):
I'm concerned.
Speaker 2 (10:38):
Or so I thought.
Speaker 1 (10:39):
See, I'm concerned. What was that beige flag you were
talking about the other day? Now I'm concerned.
Speaker 3 (10:44):
We're all off. Oh, my God. We're now on the
same page now. Should we really get married?
Speaker 2 (10:48):
We're leaning into each other's quirks, and mine apparently is.
ambiguously throwing to a break. No, but so a lot
of people are asking, will die with zero make you happy? Look,
haven't you heard people say, I want my last check
to bounce? People say this idealistically, but then in the
reality of things, they don't do it. They're too afraid to.
But look, the reality is experiences over things, that is
(11:11):
the number one way to enjoy your money. That is
what makes you happy. Things don't necessarily, things break, they
get scratched, they get lost. It just, that's not where
the joy is. The joy is in the experiences. And
so the dream, folks say, is to die at 99, broke,
(11:33):
with a big life insurance policy. If you're worried about
leaving people with nothing, they say get a big life
insurance policy. And that is how you can ease your
fear about maybe not leaving anything to your children. So
get a big old life insurance policy and then spend
all your money. I actually, they said, That way, if
you think it's selfish to spend all your money, the
(11:54):
life insurance will make it guilt-free. I love that idea.
Speaker 3 (11:57):
Okay, let's do that Monday.
Speaker 2 (11:59):
I think that is so smart. And they say life
insurance policies paid over the years will provide a tax-free
death benefit for your heirs. I think that's so cool.
So if you're worried about not leaving some sort of
legacy for your family, friends, or even charities... Do it
through a life insurance policy and all of your investments
(12:20):
in your portfolios, spend them, spend them all, enjoy them
and just get that life insurance policy. Now there are
a few financial drawbacks that they say by spending all
your money while you're alive, you may lose some tax efficiency.
Like you might've been able to avoid some taxes if
you were more measured with There are some tax minimizing
(12:41):
strategies and all of that. But they said at the
end of the day, it's peanuts compared to what you
lose if you don't enjoy your money. Like the emotional
loss is far greater than any tax benefit you might lose.
And they just say that, look, people, that would be
the argument people would push back. Oh, well, I'm going
to have to pay more taxes and it's not going
to be tax efficient for me to take my money out. OK,
(13:02):
if you want to focus on that, you're focused on
the wrong thing. This is about, yes, exactly. And those
are the people who end up dying with a hundred
percent in their bank account. I mean, think about that.
I understand why we, we, we act out of fear
instead of out of faith and out of just the
whole reason why we're here. We're here. I believe we're
(13:23):
here to be of service. We're here to learn and grow.
And we're here to love and to enjoy our lives
and our physical bodies while they're still healthy and fit.
You know, it's a reminder every day we're getting older,
but right now, You and I can still run a
half marathon, run a marathon while we're still in that
kind of physical shape. Shouldn't we be enjoying all the
hard work we've put in in the past 30 years
(13:46):
in our professional lives?
Speaker 3 (13:46):
Let's go, baby.
Speaker 2 (13:47):
All right.
Speaker 3 (13:47):
Let's do it. We've been talking about Southeast Asia for
a long time.
Speaker 2 (13:50):
We have.
Speaker 3 (13:51):
You know how I get every once in a while.
I just look at you and say, book whatever.
Speaker 2 (13:55):
It's my favorite moment when you say, I'm in a mood.
Just go ahead, book us on a trip. And I'm like, really?
You're like, just do it. And I didn't believe you,
I think, the first time. And I think that was
when we went to Nice. And I thought, okay, he's
telling me that I have the green light to do this.
I'm just going to do it. And I believe the
next day you looked at me and you said, did
you actually book that trip? And I said, I absolutely did.
(14:16):
And then we went on it. And what are your
thoughts about that?
Speaker 3 (14:18):
Favorite trip we've ever had.
Speaker 2 (14:20):
Best money we ever spent.
Speaker 3 (14:21):
Best trip. Ella, to the point we want to move there.
It's nieces the best.
Speaker 2 (14:26):
But yeah, I just think sometimes we all need a
little reminder. We need a little nudge. And especially when
you just remember how hard you worked, how much you've saved.
And yes, you'll still... Keep getting interest on your assets
and all the folks. You've got all your investment. You're
doing the work. You don't have to live in such fear.
(14:46):
And I do like that idea about the life insurance.
I absolutely want to do that on Monday.
Speaker 3 (14:53):
We got a lot to do Monday. Life insurance, booking trips.
My goodness, we got so much going on.
Speaker 2 (14:57):
You know what we're doing? We're getting busy living. And
that's the whole point. So we hope you do the same.
Have those conversations and start making some changes. And with that, everyone,
we always appreciate you listening to us. I'm Amy Robach
alongside TJ Holmes. We'll talk soon.
Hey there folks, it is Sunday, September 17th, and whatever
you do, die broke. And with that, welcome to this
episode of Amy and TJ that I already am taking
issues with because of the last statement you said before
we started. You said we're doing it all wrong. People
over-save and under-spend. That sounds like the opposite of what
(00:25):
most people preach about how we handle our finances. We
spend too much, we go too much in debt. You're
saying there's a whole new problem out there we need
to pay attention to.
Speaker 2 (00:34):
Well, there are several folks who have spent their lives
either in fund management or studying this. And they say, yes,
we're always telling people save, save, save. And obviously that's
a good thing. Save, invest. But the reality is that
most people who have financial planning, I understand that there
are plenty of people out there who don't have the
(00:55):
luxury of having this problem. We'll start with that. Obviously,
fully understand that. But for folks who do have investment accounts,
for folks who do plan for their retirements. Those people,
most of them, the majority of those people die with
a full bank account and very few memories and experiences
to show for their money.
Speaker 1 (01:14):
A full bank account is one thing. How are they
able to, or what do they mean when they say
they die without full experiences, if you will, of the
money that they save?
Speaker 2 (01:24):
Because everyone spends, well, most people spend half their life
at least busting their butts, saving, investing, planning for the future, right?
Then you get to the point where you can retire
or you're close to it. And what do you do?
You start, you continue to invest and you scrimp and
you save. And maybe a lot of these folks, they
say live in big houses. So they've got some show
(01:46):
of their wealth. But now they're worried because now I'm
not bringing in the money. And so you get worried
about what's going to be left. And so then you
stop spending. You actually drastically reduce your spending and you
end up not going on those vacations, not spending money
on those experiences. And some people advocate not spending. actually
spreading your wealth to your children while you can actually
(02:08):
enjoy the fruits of your labor by seeing other people
enjoy it. Whether you're giving it to charity, giving it
to your family, people are saving because they're so afraid
they're not going to have enough that they end up
with too much money and not enough experience.
Speaker 1 (02:24):
That's a fine balance though, ain't it? Isn't that what
everybody does as soon as you retire? You got to
sit down and you got to do some spreadsheets. You
got to do some numbers and how long it'll be
alive and how many will go to this kid and
who's got to go to college and this grandkid. That
does make sense though, right? So you're saying we're getting
the equation wrong.
Speaker 2 (02:40):
Correct. So they say it's generally what's accepted. I didn't
realize this, but this has been fascinating to look into.
It's called the 4% rule. This is the rule that
a lot of financial advisors will give their clients saying
this helps seniors or folks who have retired safely draw
down their retirement funds without running out of money. over
a 30-year span or so. So the rule is to
(03:01):
withdraw 4% of your investment portfolio each year. But most
retirees don't even come close to the 4%. This is
according to plenty of folks who have, I can read
the nonpartisan nonprofit groups that have studied this. They say
about one third of retirees have 100% or more of
(03:22):
their initial retirement assets in their mid 80s.
Speaker 1 (03:26):
Some would say that was success. Wouldn't those 80-year-olds go, man,
I nailed that. Here I am, 85, still got all
that money.
Speaker 2 (03:38):
All right. But then what do you have to show
for it?
Speaker 1 (03:41):
But that's what I'm saying. In our minds, it's like
we're trying to get closer and closer to death day.
And still have the money.
Speaker 2 (03:49):
It's called hoarding.
Speaker 3 (03:50):
Yes.
Speaker 2 (03:50):
And the sad thing about that is you don't actually
enjoy the money that you spent your whole life making.
You're not living your life to the fullest. You're not
getting those experiences. And they talked about thinking about it
as a memory dividend instead of a financial one.
Speaker 3 (04:05):
I like that line. Memory dividend. That's pretty good.
Speaker 2 (04:08):
Think about all the joy. You get an amazing emotional
return here. Every time you recall or share your memories
of vacations that you spent, even when things went bad,
you did them together and you were enjoying it. And
people always say, oh, yeah, I'm going to take that.
We do this ourselves. We're going to take that African
safari or that trip to Southeast Asia in a couple
(04:29):
of years. And then it always is a couple of
years down the road because either it's too expensive or
you don't have enough time. But the problem is you
get to a point and all of a sudden you're 75,
you're 80, you're 85. You don't have the mobility that
you had. They said, think about it. When you're in
your 50s, that's the time to start spending because you've
still got physical, you know, you can go anywhere, you
(04:50):
can do anything. Most people have the stamina and the
excitement to go actually live your life. Bring your kids
with you. Bring your grandkids with you. Once you start
getting into your 70s and your 80s, You don't know
physically how you're going to be. And we all think
we're going to be one way, but we don't know.
And that is why several, several folks are, and there's
a book called die with zero, um, authored by Bill Perkins.
(05:13):
He was a Skylar capital founder, brilliant guy, but he
authored this book in 2020, but more and more people
are getting on board with this notion. Why are we
trying to hoard money for what? It doesn't make a
lot of sense. If the whole purpose of making money
is to enjoy your money, Why are we only saving
it and we're not spending it?
Speaker 1 (05:34):
How much of this has to do also with trying
to leave it for family members?
Speaker 2 (05:38):
Yes, but they said, actually, you're missing out on the
most beautiful thing of all. How awesome would it be
while you're still alive to create a fund for your
grandchild to go to school, to give your children a
down payment on their first home, to give them that
beautiful wedding that they wanted?
Speaker 3 (05:52):
Oh, you're saying they're not doing that?
Speaker 2 (05:54):
Right, because they're saving it for when I die, you'll
inherit this.
Speaker 3 (05:58):
Ah, got you.
Speaker 2 (05:58):
It's so much more enjoyable to actually... Give your children
the money while you can see them enjoy it.
Speaker 3 (06:05):
Okay, I like that.
Speaker 2 (06:06):
You're missing out on that joy that's right there. And yes,
you can make it so. Graduation gifts. Give them a
down payment. Give them a trip of the lifetime. And
then get to watch them enjoy it. That gives you
so much more pleasure. That means you've made your money
actually bring joy instead of create worry. And when people hoard,
(06:28):
it's never enough. You need more, you need more, you
need more.
Speaker 3 (06:31):
Well, they call it hoarding. Exactly.
Speaker 2 (06:33):
But I don't want, I think my mom, I've heard
her say this, like, I don't want to die sitting
on a mountain of gold protecting it. From what? From myself?
From my children? And they say COVID-19 actually shifted a
lot of people's planning and that's why we're seeing this
trend in die with zero because people realized things happen
(06:54):
and all of a sudden you don't get to do
the things you want. You can't spend the money you have.
And so all of a sudden people started valuing experiences,
started valuing working less because they realized that the world
can change in a split second. What are we doing?
Speaker 1 (07:09):
We are starting to shift to trim back the right
direction or the other direction.
Speaker 2 (07:12):
And that is the point. But listen to some of
these studies. And this is actually concerning. A 2026 Alliance
survey said nearly half of Americans, 48% of Americans, do
not have a written financial plan.
Speaker 3 (07:27):
What's the percentage? 48%.
Speaker 2 (07:28):
And they're saying, if you don't plan, you won't do this.
Like you actually have to be intentional about saying, I
am going to strategically spend and enjoy my money either
on myself or on my children or on my grandchildren
or on the charity that I love. But I am
going to experience the joy of spending that money while
I'm still alive and still capable of experiencing it. But
(07:51):
if you don't have a plan, You're not going to
do it. You're just going to save. You're not going
to actually be intentional. So they are encouraging folks to
actually sit down and say, what are we doing this year?
How are we spending our money this year? How are
we spending our money next year? I love that. Um,
how about this? A 2025 study in a financial planning
(08:12):
review said 65 year olds in married households with at
least a hundred thousand dollars in assets only withdrew a 2%
annually from their retirement savings. So the 4% rule, most
people are only drawing out 2%. And if you're a single,
it's even less. It's 1 point something percent. So it's
significantly below this 4% rule.
Speaker 3 (08:34):
But isn't there, I just think about a fear.
Speaker 1 (08:37):
You just said, we don't know what's going to happen,
which means I might need this money.
Speaker 2 (08:42):
That's why people do it. But the other way to
look at it is that fear is stopping you from
living your life, from enjoying your life. And the truth
is they say if you've got $ 100, 000 or more and
you stick to even the 4%, and that's doubling what
most people do, you will be able to have so
many more experiences and so much more freedom and joy
if you just spend more than you think you should.
(09:04):
And they said it's counterintuitive, but most people are not
crazy with their money. If they spent their whole life
building it, They're not going to be like, you actually
have to encourage people to spend money. They're not going
out and buying yachts. And they're even saying assets are
one thing. It's more about the experiences. That's what they're
saying is the more value, either in the giving of
(09:24):
the money or in the traveling experience. And the memories
that you create, it's, it's less about, they even said
some people will buy these big houses and then they
live in fear that they can't pay their bills. And
so they don't go on vacation. So they like create
their own jail, like their beautiful prison with some of
the money, but then they're afraid to go anywhere and
spend any more because, Oh, what if I can't pay
my mortgage? And you end up trapping yourself in a prison.
Speaker 3 (09:47):
It's a nice house.
Speaker 2 (09:48):
It's a nice house, but it's still a prison. Uh,
I think that's so interesting. And look, um, there are
some drawbacks but the big question is will die with
zero make you happy the experts say it will.
Speaker 3 (10:04):
It will uh okay well you're gonna tell me about
it when we come back.
Speaker 2 (10:09):
I'm gonna tell you all about it after the break
you have to.
Speaker 1 (10:11):
Be clear with the commercials baby i don't know when
to roll the music here We're back now from that
ill-advised break.
Speaker 2 (10:26):
We just, you know. I'll be more clear next time. Sorry.
Speaker 1 (10:29):
You know, that was the first time we've done, who
knows how many podcasts. That was the first time we
ever had a hiccup on a commercial.
Speaker 2 (10:35):
You looked at me. I was like, yeah, I just
threw the brake. I thought.
Speaker 3 (10:38):
I'm concerned.
Speaker 2 (10:38):
Or so I thought.
Speaker 1 (10:39):
See, I'm concerned. What was that beige flag you were
talking about the other day? Now I'm concerned.
Speaker 3 (10:44):
We're all off. Oh, my God. We're now on the
same page now. Should we really get married?
Speaker 2 (10:48):
We're leaning into each other's quirks, and mine apparently is.
ambiguously throwing to a break. No, but so a lot
of people are asking, will die with zero make you happy? Look,
haven't you heard people say, I want my last check
to bounce? People say this idealistically, but then in the
reality of things, they don't do it. They're too afraid to.
But look, the reality is experiences over things, that is
(11:11):
the number one way to enjoy your money. That is
what makes you happy. Things don't necessarily, things break, they
get scratched, they get lost. It just, that's not where
the joy is. The joy is in the experiences. And
so the dream, folks say, is to die at 99, broke,
(11:33):
with a big life insurance policy. If you're worried about
leaving people with nothing, they say get a big life
insurance policy. And that is how you can ease your
fear about maybe not leaving anything to your children. So
get a big old life insurance policy and then spend
all your money. I actually, they said, That way, if
you think it's selfish to spend all your money, the
(11:54):
life insurance will make it guilt-free. I love that idea.
Speaker 3 (11:57):
Okay, let's do that Monday.
Speaker 2 (11:59):
I think that is so smart. And they say life
insurance policies paid over the years will provide a tax-free
death benefit for your heirs. I think that's so cool.
So if you're worried about not leaving some sort of
legacy for your family, friends, or even charities... Do it
through a life insurance policy and all of your investments
(12:20):
in your portfolios, spend them, spend them all, enjoy them
and just get that life insurance policy. Now there are
a few financial drawbacks that they say by spending all
your money while you're alive, you may lose some tax efficiency.
Like you might've been able to avoid some taxes if
you were more measured with There are some tax minimizing
(12:41):
strategies and all of that. But they said at the
end of the day, it's peanuts compared to what you
lose if you don't enjoy your money. Like the emotional
loss is far greater than any tax benefit you might lose.
And they just say that, look, people, that would be
the argument people would push back. Oh, well, I'm going
to have to pay more taxes and it's not going
to be tax efficient for me to take my money out. OK,
(13:02):
if you want to focus on that, you're focused on
the wrong thing. This is about, yes, exactly. And those
are the people who end up dying with a hundred
percent in their bank account. I mean, think about that.
I understand why we, we, we act out of fear
instead of out of faith and out of just the
whole reason why we're here. We're here. I believe we're
(13:23):
here to be of service. We're here to learn and grow.
And we're here to love and to enjoy our lives
and our physical bodies while they're still healthy and fit.
You know, it's a reminder every day we're getting older,
but right now, You and I can still run a
half marathon, run a marathon while we're still in that
kind of physical shape. Shouldn't we be enjoying all the
hard work we've put in in the past 30 years
(13:46):
in our professional lives?
Speaker 3 (13:46):
Let's go, baby.
Speaker 2 (13:47):
All right.
Speaker 3 (13:47):
Let's do it. We've been talking about Southeast Asia for
a long time.
Speaker 2 (13:50):
We have.
Speaker 3 (13:51):
You know how I get every once in a while.
I just look at you and say, book whatever.
Speaker 2 (13:55):
It's my favorite moment when you say, I'm in a mood.
Just go ahead, book us on a trip. And I'm like, really?
You're like, just do it. And I didn't believe you,
I think, the first time. And I think that was
when we went to Nice. And I thought, okay, he's
telling me that I have the green light to do this.
I'm just going to do it. And I believe the
next day you looked at me and you said, did
you actually book that trip? And I said, I absolutely did.
(14:16):
And then we went on it. And what are your
thoughts about that?
Speaker 3 (14:18):
Favorite trip we've ever had.
Speaker 2 (14:20):
Best money we ever spent.
Speaker 3 (14:21):
Best trip. Ella, to the point we want to move there.
It's nieces the best.
Speaker 2 (14:26):
But yeah, I just think sometimes we all need a
little reminder. We need a little nudge. And especially when
you just remember how hard you worked, how much you've saved.
And yes, you'll still... Keep getting interest on your assets
and all the folks. You've got all your investment. You're
doing the work. You don't have to live in such fear.
(14:46):
And I do like that idea about the life insurance.
I absolutely want to do that on Monday.
Speaker 3 (14:53):
We got a lot to do Monday. Life insurance, booking trips.
My goodness, we got so much going on.
Speaker 2 (14:57):
You know what we're doing? We're getting busy living. And
that's the whole point. So we hope you do the same.
Have those conversations and start making some changes. And with that, everyone,
we always appreciate you listening to us. I'm Amy Robach
alongside TJ Holmes. We'll talk soon.
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