Getting all you can from money -> experiences and memories
Maximize your positive life experiences
Decide what makes you happy and then covert money into experiences: Memory Dividend.
Health, money, time triangle
Take action before health deteriorates.
Travel requires all three.
Transfer money from years of abundance to leaner years.
Ok to not save when younger -> live and enjoy!
May make sense to borrow money when young.
Money earned uses life energy.
You retire on your memories; -> memory dividends.
These dividends compound over time.
Create photo albums and reunions.
Die with zero -> don't just save
Spend a lower percentage of your time at work.
Money is yours regardless of source: earned vs given.
Don’t save an inordinate amount for medical emergencies. Spend money now on preventative care.
Give your kids time with you.
Give to charity now: they need it.
Money had more value in the 50s than in the 80s because you could use it on more things because health is better.
Personal Interest Rate -> how much someone must pay for you time. Increases with age; don’t delay experiences!
Time bucket your life 50-65 = Health + Time + Money
Don’t waste it on work!
65-75+ grandparent years.
Know your peak desired wealth -> it is an age, not a number.
Between 45 and 60.
Separately, survival threshold = 70% x annual cost of living x years to live.
Example: 70% x $550k x 40 = $15.4 M
Disclaimer: These are notes I created from reading the book. This is not completely comprehensive and may include errors and typos. No guarantee is provided as to the accuracy of the information. It is provided for educational purposes only.