The Fear of Wasting Life

If you’ve ever felt stuck in the mundane rhythm of life, hesitating to take that leap—whether it’s moving to a new city, chasing a dream, or telling someone you love them first—Bill Perkins has a message for you: Don’t waste your life.

Bill Perkins, the author of Die With Zero, didn’t write his book to make you rich. He wrote it to save lives—starting with his own. For years, he chased wealth in the high-pressure world of Wall Street commodities trading, only to realize that financial success without deliberate living is meaningless. He feared one thing above all: reaching the end of his life and realizing he had wasted it.

The Problem With Money for Money’s Sake

Many of us believe that once we accumulate enough wealth, we’ll be set for life. But Perkins challenges that idea, arguing that money is only useful if it’s spent on meaningful experiences. He compares the relentless pursuit of wealth to collecting Chuck E. Cheese tokens—amassing a fortune but never actually redeeming it for the prize. If you work hard your entire life just to hoard money you’ll never spend, what was the point?

Instead, Perkins urges us to think of life as an optimization problem, where the three main variables are:

• Wealth (how much money you have)
• Health (your physical ability to enjoy life)
• Time (how long you have left)

The trick, he says, is to maximize all three in harmony. Accumulating wealth for the sake of wealth, while letting time slip away and health deteriorate, is a tragic imbalance.

The Memory Dividend: Invest in Experiences Early

We often think of investing in financial terms, but Perkins introduces a different kind of compounding: the memory dividend. The experiences you have today don’t just bring joy in the moment; they continue paying out over time as memories. A fishing trip with friends at 25 doesn’t just last one day—it becomes a story you tell for decades, enriching your life over and over.

This means that delaying gratification in the extreme is a mistake. Yes, saving money is important, but hoarding experiences for “someday” is just as dangerous. That “someday” might never come.

The Three Phases of Life

Perkins breaks life into distinct phases, each with its own optimal experiences:

1. Young and Broke: You have time and health, but little money. Prioritize experiences that don’t require a lot of cash but create lifelong memories.
2. Middle Age and Earning: You have money and health, but less time. Invest in bucket-list experiences before your energy declines.
3. Older and Wealthy: You have money and time, but less health. Focus on experiences that don’t require as much physical ability but still bring joy.

If you misallocate your experiences—saving travel for old age or focusing solely on work in youth—you’ll miss out on life’s full potential.

Spending Money on What Actually Matters

Many people fear running out of money, but Perkins argues that what we should really fear is running out of time. Retirement savings are important, but most retirees actually underspend their wealth, afraid to touch their nest egg. The reality? Most people don’t spend nearly as much in retirement as they think they will.

By the time you’re old, many of the experiences you dreamed of won’t be enjoyable anymore. Instead of piling up unused wealth, use your money strategically at the right times—when you have the health to enjoy it fully.

Why You Should Give Money to Your Kids Early

If your plan is to leave your children an inheritance when they’re 60, you’re doing it wrong. By then, they won’t need it as much. Perkins suggests giving your kids financial gifts when they can actually use them—typically between 25 and 35, when they’re building their lives.

This ensures that your wealth benefits your family at the right time, rather than just padding a retirement account they won’t need.

Stop Living on Autopilot

Most people live their lives based on outdated cultural scripts—working for a promotion they don’t need, saving for a retirement they won’t fully enjoy, following societal expectations without question. Perkins calls this living on autopilot, and it’s one of the biggest reasons people waste their lives.

Instead, he urges people to be deliberate. Ask yourself:

• Am I living my best possible life today?
• What experiences should I prioritize right now?
• Am I optimizing for net fulfillment rather than just wealth?

The goal isn’t just to survive. It’s to thrive.

Take Big Risks Early

Many people hesitate to take risks because they fear failure. But Perkins reminds us that the younger you are, the more time you have to recover. If you lose money in your 20s, you have decades to make it back. If you fail at a business, you have time to pivot.

Waiting too long to take risks is one of life’s biggest regrets. At some point, responsibilities—family, mortgages, aging—will limit your ability to make bold moves. Take your big swings when you have the freedom to do so.

The Final Takeaway: Live With Urgency

Life is short. Your health won’t last forever. Your time is running out.

The most successful people in the world don’t just accumulate wealth—they accumulate experiences. They design their lives to maximize fulfillment, not just money. Perkins’ message is clear:

• Spend money on experiences while you have the health to enjoy them.
• Take risks early, while you can still recover.
• Give your kids financial help when they actually need it.
• Stop living on autopilot—make every decision deliberately.

At the end of your life, you won’t care how much money you have in the bank. You’ll care about the memories, adventures, and love you experienced along the way.

So stop waiting. Go live.