My guest today says you should end with $0 in your bank account. You read that right—and you might be shocked by how much you agree with him. Successful hedge fund manager and entrepreneur Bill Perkins shares why waiting too long to do the things you’ve always wanted may mean you run out of time to do them at all. If your fear is still holding you back, Bill shares ways that you can take control of your finances so you can have a fulfilling life.
What you will learn:
- Money is what you exchange your time for
- We acquire money because we want to have a life
- All of us go on autopilot
- Don’t over-delay gratification
- Solve for net-fulfillment over net worth
- Use your resources at the right time
- How to overcome your fear of running out of money
- Create time buckets for your life
- Invest in experiences and reap the memory dividends
- Choose your own adventure
Quotes:
- “We want to pay our bills, we want to be healthy, we want to feed ourselves—but after that, it’s our own unique individual choices, based on our own values and experiences. We want to have a life.” – Bill Perkins
- “If money is just the goal by itself, then there’s simply no life satisfaction that occurs.” – Derrick Kinney
- “If you go to work, right, something that you normally wouldn’t do, and you die with money in the bank, you’ve essentially given up a piece of your life, depending on how much you overworked, for nothing, for no reward.” – Bill Perkins
- “Life is like Tetris. Remember that video game, Tetris? Where you have the shapes down and they interlock. If you don’t get the order right in life, you don’t get as many experiences.” – Bill Perkins
- “Find out exactly where your fear is coming from and look at the products that will mitigate those fears so that you can have the most fulfilling life.” – Bill Perkins
- “I tend to be more productive and more excited when there’s something to anticipate, not just be surprised by.” – Derrick Kinney
- “When you invest in experience, you get the joy of that experience, of doing that activity, but you also get what I call the memory dividend. Every time you recall that experience, you get a little bit of joy.” – Bill Perkins
- “I’m on the journey to the grave and I’m trying to minimize future regret. And as long as I stay on model, I’m going to get the most I can out of my money, my time and my health here on Earth.” – Bill Perkins
- “So many people think about investing, and they get a return on their stock or their bond, but when you invest in people, there is an exponential return you can get, not just in belief, but actually the impact they can make on society.” – Derrick Kinney
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