Optimizing life for maximum fulfillment | Bill Perkins

Peter Attia

Nov 25, 2024

Episode description

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Bill Perkins is one of the world’s most successful hedge fund managers and entrepreneurs, and the author of the bestseller, Die With Zero. In this episode, Bill unpacks the Die With Zero philosophy which challenges conventional thinking related to the balance between health, wealth, and time—the three variables important for fulfillment. Bill makes the case that we should strive for maximum net fulfillment rather than net worth (or even health). He argues that we need to optimize our life to have memorable experiences before it’s too late and that most people are over-saving and under-living. Bill also explains how one can apply the principles in Die With Zero to break out of “autopilot” and optimize their life to achieve maximum net fulfillment.

We discuss:

  • Bill’s upbringing, background, and first job on Wall Street [2:45];

  • A missed experience and feeling of regret that shaped Bill’s thinking [13:45];

  • Thinking in terms of time, and the relationship between money, time, and health [16:30];

  • Solving for net fulfillment and allocating your time based on the seasons of life [26:45];

  • How Bill thinks about risk, opportunity costs, and the difference between fear and risk tolerance [35:00];

  • Optimizing for fulfillment, finding purpose outside of work, and more [41:15];

  • Thinking about the order of experiences you want to have based on seasons of life [49:30];

  • Bill’s unique perspective on philanthropy and a more impactful way to give money away [54:15];

  • Applying the principles in ‘Die With Zero’ to maximize fulfillment [1:03:30];

  • How to break out of living life on autopilot [1:13:45];

  • When should your net worth peak? [1:17:30];

  • Taking calculated risks [1:21:00];

  • Bill shares a lesson from his incredible birthday [1:24:45];

  • How Bill’s philosophy has evolved since writing Die With Zero [1:33:30]; and

  • More.

Connect With Peter on TwitterInstagramFacebook and YouTube

Episode description

View the Show Notes Page for This Episode

Become a Member to Receive Exclusive Content

Sign Up to Receive Peter’s Weekly Newsletter

Bill Perkins is one of the world’s most successful hedge fund managers and entrepreneurs, and the author of the bestseller, Die With Zero. In this episode, Bill unpacks the Die With Zero philosophy which challenges conventional thinking related to the balance between health, wealth, and time—the three variables important for fulfillment. Bill makes the case that we should strive for maximum net fulfillment rather than net worth (or even health). He argues that we need to optimize our life to have memorable experiences before it’s too late and that most people are over-saving and under-living. Bill also explains how one can apply the principles in Die With Zero to break out of “autopilot” and optimize their life to achieve maximum net fulfillment.

We discuss:

  • Bill’s upbringing, background, and first job on Wall Street [2:45];

  • A missed experience and feeling of regret that shaped Bill’s thinking [13:45];

  • Thinking in terms of time, and the relationship between money, time, and health [16:30];

  • Solving for net fulfillment and allocating your time based on the seasons of life [26:45];

  • How Bill thinks about risk, opportunity costs, and the difference between fear and risk tolerance [35:00];

  • Optimizing for fulfillment, finding purpose outside of work, and more [41:15];

  • Thinking about the order of experiences you want to have based on seasons of life [49:30];

  • Bill’s unique perspective on philanthropy and a more impactful way to give money away [54:15];

  • Applying the principles in ‘Die With Zero’ to maximize fulfillment [1:03:30];

  • How to break out of living life on autopilot [1:13:45];

  • When should your net worth peak? [1:17:30];

  • Taking calculated risks [1:21:00];

  • Bill shares a lesson from his incredible birthday [1:24:45];

  • How Bill’s philosophy has evolved since writing Die With Zero [1:33:30]; and

  • More.

Connect With Peter on TwitterInstagramFacebook and YouTube

Mindsip insights from this episode:

Recognize money's diminishing utility with age and health decline

The usefulness of money is not linear; it follows a curve, ramping up in utility and then declining as you age and your health fails, meaning money is less valuable when you are old.

Maximize net worth in your 50s for enriched experiences

Your net worth should peak in your 50s, not at retirement, to align with your peak physical ability to utilize that wealth for experiences.

Utilize a death clock calendar to embrace life's finiteness

Using a 'death clock' or a 4,000-week calendar where you check off each week is a visceral way to remind you that life is finite and pull you off autopilot.

Stop over-saving and invest in actual insurance for peace of mind

Many people over-save because they are acting as their own inefficient insurance agent; it's better to buy actual insurance for specific fears and use the rest of your money to live.

Give money at peak utility for maximum impact

Give money to your children or other heirs when they are at their peak utility for it (e.g., age 25-33), not when you die and they are much older.

Invest in experiences for lasting memory dividends

Experiences provide 'memory dividends,' which are the fulfillment you get from recalling and sharing the memory long after the event is over.

Rebuild non-work muscles to combat work addiction

People who can't stop working have let their non-work 'muscles' for socializing, discovery, and finding fulfillment atrophy, leaving them unable to imagine life without their job.

Adopt regret-minimizing framework to seize opportunities

Instead of a risk-minimizing framework, you should adopt a regret-minimizing framework that considers the huge opportunity cost of inaction.

Align experiences with life seasons for fulfillment

Life is like a game of Tetris where you must get the order of your experiences right, because if you save an experience for the wrong season of life, you don't get the fulfillment points.

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