Book Review: Die With Zero

Spoiler Alert! We're all going to die.

I'm the sort of person who buys a fancy jar of something delicious - and then I save it for a special occasion. Yet, somehow, those special occasions never seem special enough. And so the jar sits at the back of the cupboard waiting for a train that's never going to come.

How many of you do the same? This book attempts to change that. Why do you spend your time earning and saving money that you're never going to spend? The central thesis of the book is that it is an inefficient use of your limited time on Earth to hoard money. You should spend it on things and experiences which give you pleasure. With the aim that you die with a bank balance of £0.00, but a full-to-bursting memory balance.

The book wants you to spend your time wisely - which means maximising your use of your resources. That means mindfully spending money rather than just going on autopilot through life. I found it surprisingly uplifting and inspiring. What is the point of hoarding wealth? I work in order to have enough money to enjoy myself.

The first thing to say is that is very American - and fully exposes the sheer horror of the American medical "care" system. Some of the examples simply aren't relevant to a UK audience. While care bills may be high in the UK, you're not going to be sent bankrupt by the NHS.

Secondly, this book is explicitly not for everyone. If you are struggling pay-cheque to pay-cheque, there are better books to help you manage your finances. This is aimed squarely at upper-tier earners with low debts and high earning potential.

Which leads on to my final criticism - the author is a little blind to their privilege. They do acknowledge the role luck has played in their charmed life, but don't really address the structural issues that some people may have following its philosophy. Similarly, it is an exercise in survivorship bias. The system works only assuming you have a sufficient buffer against shock. This is addressed belatedly at the end of the book - but it is worth reading with a critical eye.

Much like the book Playing With Fire, this is a pamphlet which has been expanded to novel length. You'll find yourself skipping some of the repetitious bits of it.

At the core, I found very little to disagree with:

• Charity needs your money now - so donate while you're alive rather than leaving a bequest.
• If you're having kids, they can make best use of extra money now - so don't wait until they're old by leaving an inheritance.
• Invest in making fun memories now - so you can enjoy them when you're old and slow.
• You can't take it with you. So spend your money now.

Obviously, you'll need a pension. And emergency savings. And insurance. And you probably don't want to go into unnecessary debt. The book touches on these - but, again, mostly in an American context.

If you're lucky enough to find yourself earning more than you spend - and you find that your life isn't wholly satisfying - then this is a reasonable book to help kick-start you into action.