E7: Die with Zero: Getting all you can from your money and your life

3 Lessons 💡

1. Plan Your Life In Stages
   1. To live your life to the fullest, you need to examine 3 traits: health, money, and free time.Here's how it usually breaks down:
      • 20-30 years old: You often have lots of time and health, but little money.
      • 31-60 years old: You have a lots amount of health and money, but often little time.
      • 61+ years old: You have lots of time and money, but may have reduced health.
   2. Each age group has its pros and cons so you want to be wise when you're in each stage.
   3. So take a minute to reflect on what stage you're in life and how you can take advantage of what you have most of today.
2. Why Your Health Is More Valuable Than Your Wealth:
   1. In order to enjoy experiences (or life for that matter) you generally need good health. Additionally, in life, you're going to have to "pay" for good health one way or another so it makes more sense to invest in your health on the front end than on the back end. Here's what I mean...Investing in your health on the front end -- these expenses can be in time or money
      • Taking time each day to meditate
      • Getting a gym membership
      • Nurturing positive relationships with friends
   2. Investing in your health on the back end:
      • Paying for doctor visits
      • Paying for a surgery
      • Paying for prescription pills
   3. “It is much smarter to spend your healthcare money on the front end (to maintain your health and try to prevent disease) than to spend it at the end, when you get a lot less bang for every buck you spend,” writes Bill Perkins.
3. Why You Should Give Away Your Money Today
   1. Most people wait until they're dead (or near death) to give away all of their money. But, if you wait until you're dead to give away your money, you'll never see the positive impact it had on the world. If you have a favorite charity, wouldn't you want to see the impact your donation had on people while you're alive? Or let's say you're 95 and you decide to give your kids their inheritance. Chances are your kids are now over 55 years old and doing well in life or even retired. What could've been smarter is giving them their inheritance when they're 25 or 30 so that they can use that money to buy a house, pay for a wedding, or go on a big family vacation together. So take a minute to think about what ages you want to give money to your children, friends or charities that are important to you to have the biggest impact on their lives and the world.

3 Actions ✅

1. Reflect on your life to determine which activities you'd like to plan for each part of your life
2. Invest in your health today (via time or money) rather than paying for it tomorrow:
3. Reflect on the importance of memories and what amazing experiences you've already had in your life so far!

Helpful Links:

• "Die with Zero" by Bill Perkins
• Life Timeline Sample Diagram
• Alex and Books Website/Newsletter - provided structure and foundational notes for this episode

Book Mentioned: "Die with Zero: Getting all you can from your money and your life" by Bill Perkins