Dying Destitute: Should You Spend All Your Money Before You Die? #584

The fact that money is so measurable is both a blessing and a curse. It's a blessing because your budget, your salary, how much you have set aside in investment accounts- basically all dollar amounts in your life are very quantifiable. And because of that it’s not difficult to make some tweaks in order to see some movement with your net worth. Awesome! But at the same time it’s a curse- because these are measurements that are so readily available, we can often overly rely on these numbers to let us know how we’re doing in life. If you’re overly focused on the numbers and if your life satisfaction is purely determined by how much you’ve got in the bank, then we’d argue that you’re incorrectly using your wealth as the main measurement of life satisfaction. So hear us out: the argument we’re putting forth today is that maybe we should all consider dying destitute! We discuss some great reasons to consider spending all your money, how to spend your money in a way that brings you the most joy and happiness, whether you should give money away before or after you die, and some thoughts on leaving money to your kids.

 

Want more How To Money in your life? Here are some additional ways to get ahead with your personal finances:

Knowing your ‘money gear’ is a crucial part of your personal finance journey. Start here.  Sign up for the weekly HTM newsletter. It’s fun, free, & practical. Join a thriving community of fellow money in the HTM Facebook group. Find the best credit card for you with our new credit card tool! Massively reduce your cell phone bill each month by switching to a discount provider like Mint Mobile. Don’t be cheap and forego getting a life insurance policy. Compare rates with Policygenius.

During this episode we enjoyed a Raspberry Blush by Mikkeller Brewing! And please help us to spread the word by letting friends and family know about How to Money! Hit the share button, subscribe if you’re not already a regular listener, and give us a quick review in Apple Podcasts or wherever you get your podcasts. Help us to change the conversation around personal finance and get more people doing smart things with their money!

 

Best friends out!

See omnystudio.com/listener for privacy information.