The core idea: Aim not to accumulate too much money, because that would mean you had worked too much and missed out on experiences in your life that you could have had instead.
I agree with many of Perkin’s points. Sometimes the content seemed targeted at people with way higher networth than I will ever expect to have. And at the core, the idea is as simple as any child would put it: Make the best of your life, don’t focus on money as a goal in itself. Also, it seemed a little shallow occasionally to equate “good life experience” with “more money spent”. But I guess that doesn’t ruin the main idea.
Some nice concepts:
Calculating your “peak”, i.e. you age where you should stop accumulating and start spending.
planning out your life in phases of 5-10 years duration. Map out the experiences you still want to have and make sure you do them at an age where you can still enjoy them. Don’t postpone the until you (or your family members) are too old to enjoy them or when your kids have left the house.
if you’re afraid to run out of money because you get older than you anticipated: get an annuity or long term care insurance. I have always scoffed this off before but now I understand why it could make sense
the best spending years should be between 20 to 60 years old and not at the traditional retirement age, as most people plan it
if you really care about giving money to your kids or a charity, do it with intention while you’re still alive. Don’t leave it as an inheritance
PS: The audio book was fine, but not great. I think Bill Perkins read it himself? In any case, there are some reading pauses in the text. I think a professional narrator would have done a slightly better job. But still a good audio book.
The core idea: Aim not to accumulate too much money, because that would mean you had worked too much and missed out on experiences in your life that you could have had instead.
I agree with many of Perkin’s points. Sometimes the content seemed targeted at people with way higher networth than I will ever expect to have. And at the core, the idea is as simple as any child would put it: Make the best of your life, don’t focus on money as a goal in itself. Also, it seemed a little shallow occasionally to equate “good life experience” with “more money spent”. But I guess that doesn’t ruin the main idea.
Some nice concepts:
PS: The audio book was fine, but not great. I think Bill Perkins read it himself? In any case, there are some reading pauses in the text. I think a professional narrator would have done a slightly better job. But still a good audio book.