The Book That Changed How I Spend Money
Vložit
- čas přidán 24. 07. 2024
- The first 1,000 people to use the link or my code aliabdaal06221 will get a 1 month free trial of Skillshare: skl.sh/aliabdaal06221
So I read this book called Die with Zero and the basic concept is that it’s possible to save up way too much money. Bill Perkins reckons that we should all aim to have $0 in our bank account, give or take, by the time we die, which is what I'm exploring in this episode of Book Club.
Die With Zero: Getting All You Can from Your Money and Your Life - geni.us/vZGAu8H
The Best Book I've Ever Read about Making Money: • The Best Book I've Eve...
Previous Book Club videos: • Book Club
00:00 Intro
01:49 Why you should save less
02:03 Earning power
02:38 Memory dividends
03:23 Old age
04:32 Objection 1 - What if I run out of money?
05:05 Objection 2 - What about the kids?
05:59 Objection 3 - What about charity?
06:41 Tip 1 - Time bucket your life
07:53 Tip 2 - Be bold, not foolish
09:02 Weaknesses with the book
Submit your video ideas and if we pick your video, we'll send you $100 - aliabdaal.typeform.com/video-...
MY FREE ONLINE COURSES:
🚀 Productivity Masterclass - Principles and Tools to Boost Your Productivity - go.aliabdaal.com/course/produ...
🎬 Video Editing with Final Cut Pro X - From Beginner to CZcamsr - go.aliabdaal.com/course/video...
🎓 How to Study for Exams - An Evidence-Based Masterclass - go.aliabdaal.com/course/studying
PART-TIME CZcamsR ACADEMY:
🍿 My 6-week live online course - go.aliabdaal.com/ptya_aliabdaal
CREATORPRENEUR
💰 My flag-ship course for scaling up your creative side-hustle - creatorpreneur.academy/course
CZcams FOR BEGINNERS COURSE
📸 This is for anyone who'd like to start a CZcams channel. You'll learn everything you need to get started as a CZcamsr including how to script, shoot, and edit your first video - go.aliabdaal.com/course/YouTu...
MY FAVOURITE GEAR:
🎥 My CZcams Camera Gear - kit.co/AliAbdaal
⌨️ My Keyboard - Wireless Coral mechanical keyboard (Cherry Blue) - go.aliabdaal.com/keyboard
📝 My favourite iPad Screen Protector - Paperlike - go.aliabdaal.com/paperlike
🎒 My Desk Accessories + Todo List - Ugmonk - go.aliabdaal.com/ugmonk
MY FAVOURITE SOFTWARE:
✍️ The best summaries of books (Shortform) - go.aliabdaal.com/shortform
📚 How I remember what I read (Readwise) - go.aliabdaal.com/readwise
🎵 Where I get my Music (amazing for CZcamsrs) - go.aliabdaal.com/epidemicsound
🎙 Deep Dive podcast - / deepdivewithaliabdaal
The podcast that delves into the minds of entrepreneurs, creators and other inspiring people to uncover the philosophies, strategies and tools that help us live happier, healthier and more productive lives. You can find it by searching “Deep Dive” on any podcast app (eg: Spotify, Apple Podcasts, Google Podcasts etc).
BE MY FRIEND:
💌 Sign up to my weekly email newsletter - aliabdaal.com/friendzone/
🌍 My website / blog - www.aliabdaal.com
📸 Instagram - / aliabdaal
🐦 Twitter - / aliabdaal
💙 The Friendzone Discord - / discord
🎮 Twitch - / aliabdaal
WHO AM I:
I’m Ali, a CZcamsr, podcaster, soon-to-be author and ex-Doctor working in London, UK. I make videos that explore the strategies and tools that help us live happier, healthier and more productive lives. I also have a weekly podcast called Deep Dive (czcams.com/channels/hfo.html..., and I write a weekly email newsletter that contains some quick thoughts + links to interesting things (email.aliabdaal.com).
GET IN TOUCH:
If you’d like to talk, I’d love to hear from you. Tweeting @AliAbdaal directly will be the quickest way to get a response, but if your question is very long, feel free to email me at hi@aliabdaal.com. I try my best to reply to things but there sadly aren't enough hours in the day to respond to everyone 😭
PS: Some of the links in this description are affiliate links that I get a kickback from 😜
I recommend everyone to find the forbidden book titled Secret Pathway to Triumph: It goes deep into all of this, and it changed my life.
I have been lucky enough to be gifted enough money to buy a house in cash - I'm 27. This essentially means I'll never have to have a mortgage in my life (and I certainly won't want to). I feel extremely lucky and grateful, but this is the power of not having to wait for inheritance
Just quit my job with $3.8 million at 35. Plan is to volunteer and enjoy my life now
Try out learning to play Saxophone 🎷 it’s taken up all my time and I’m still terrible 3 years later but I’m addicted to it!
This is such a unique way to think about money and the human experience. Thinking about missing out on good memories in order to work harder just to do it when we’re older and not as agile is really something to think about. I just might have to read this book 😅
Crazy how you posted this right after I picked up the book at the city library!
We’re 66 now and have been retired 6 years. We spent 20 years climbing volcanic hobby until we weren’t physically fit enough at around age 55. Then we walked the Camino de Santiago aged 56 carrying our packs..now we couldn’t do that either so we did all our tougher adventures when we were younger. Now we spend big nitrate fewer risks. After age 70 travel insurance is astronomical… so aim to get it done pre 70. After 76 it’s almost impossible to get insurance for more than 90 days…
Great and refreshing idea! I’d rather earning money while enjoying my 20’s instead of hustling all the way til middle age and having so less appreciation for the amazing things around me!
Super helpful video, thanks man!
I used to watch ur videos titled Medical mondays when i was like in yr 10, today when i was scrolling through my suggestions on yt suddenly a video of yours titled 'medical mondays' popped up and it reminded me of the old times when u used to be a junior doctor 😢 Best of luck for the future man keep it up... 👍
I got a seizure reading the book title.
😭😭😭😭 this comment made my day
I thought I was the only one
😂😂😂
I got curious when I read the title.
I am now going to the hospital because I thought I was going crazy
Building wealth involves developing good habits like regularly putting money away in intervals for solid investments.
Financial management is a crucial topic that most tend to shy away from, and ends up haunting them in the near future.
Putting our time and effort in activities and investments that will yield a profitable return in the future is what we should be aiming for. Success depends on the actions or steps you take to achieve it.
Cryptocurrency is one of the best investment one can make and build wealth for their future
@@martinhugo1514 Yes you're right, Bitcoin is a good business, making money is easier through investment,
don't save your money
Buy and invest in Bitcoin
Bitcoin is the future, investing now in it will be the wisest thing to do especially with the current rise.
Yes investing in Bitcoin with the help of an expert is the best and more profitable
Real great content. Thank you
Great videos as always, could you make a video on the book "Power"?
Amazing video! Keep up the good work man
You put a lot of hard work in your contents that's great really.
We really enjoyed this episode of book club! Very important topic
Love you very much, Ali! Thanks for your very useful videos💙
You look better than ever 😄 I don't know what you've been doing/integrating into your lifestyle, but it helps!
What a great video man! Good financial advices for an 18 yo if starting now!!. THanks man for the tips!!😊😊
Great book, outstanding presenter, love the video! Thanks.
I needed this
Hi Ali..! Once again, many thanks for the fantastic video! I just recently came across you and have been enjoying your work. You seem to add a lot of value to your films, and I think you're also really entertaining. Once again, I'm grateful and happy for the people who follow You!
I wish this guy was my teacher at some point in my life.
Thanks for this Ali. Your videos are really valuable.
If parents can afford it, would be a good idea to gift your kids money for a down payment for the house or apartment. That’s money well spent, and enjoyed. The more money down, the lower the interest rate for the mortgage as well. A really practical gift.
Thank you, Ali, for sharing your insightful notes, Your book summaries are always incredibly valuable!
I love to read and you give me so much inspiration. Love from Ghana🇬🇭
My god! I almost died making sense of that book title.
Loved this video! 👏🏼🌹
I agree to a certain extent due to the cost of living which has increased alongside inflation.
Save money yes, but don't be frugal.
Learn when to spend your money on things that will make you happy. Materialistic items aren't important but experiences are priceless.
Be frugal not stingy.
The book changed my mind about long term spending. I had heard in the past people say, "I'm not going to spend and save my money in order to optimize my nursing home bed!" Ali, I read this book based on your recommendation. Thanks!!
Slow down! Gimminee Christmas
If you give your kids money early on it would be less money cause it grows over time, so that's also a point to consider.
As for donating early, it really doesn't matter in the big picture. Say everyone donate early on so there will be a lot of money that will flood in while the change occurs, but then it'll go back to be the same of not less when everyone will donate young (and poorer)
Great video! But let's talk about something important: If you don't find a way to grow your money, one day you will wake up and find that the money you thought you had is gone.
I agree with you that investing is key to maintaining your financial longevity. And not just any investment, but an investment with guaranteed profitability.
To make more, you need to have multiple diversified income opportunities" so investing is a way to make more money once it becomes profitable.
Investing has made me lose greatly before understanding that Investing with the right Strategy and professional is the best way to acquire financial success.
My advice to anyone panicking right now is to look at the history, if the smarket could recover from this coronavirus crisis, the 2008 financial crisis, the Dotcom crash, definitely the market would go through Whatever comes next as well.
@Lily Anna Take the time to learn. If time poor seek a solid financial adviser for help. Most traders lose money.
It’s very surprising that you don’t mention as a weakness the power of investments and compounding. You cannot compare 20$ when you are young and 20$ when you are 60 as the same, you’ll have to do the NPV (net present value), to be able to compare both. That’s why there is a very big opportunity cost of spending when you are young, bc you could otherwise save it and increase it by ~10% each year for 40-50 years!!
I haven't read this book but I employ this mentality a lot more nowadays because I've realised that the disposable money I save is money not spent on creating memories and helping to nurture and maintain relationships with people. Even though it costs me quite a bit, I've started hosting lunch/dinner parties almost weekly because it's a great way to both see and catch up with friends, as well as doing something I really enjoy, which is cooking.
I guess you could say I used to be quite stingy. But now that I've loosened up a bit, I've just been having a much better time in general. I see my friends more often, have more fun, and I don't feel like I'm wasting my youth anymore.
I am not oblivious to the fact that I am incredibly privileged to be able to do this. I know that not only am I very lucky to have been born in a developed, free country, but that I was blessed with great parents, financial security, and good health. Whilst I am, and will continue to be selfish by treating myself and my friends by spending money, I absolutely aim to devote a big chunk of my life to making the world better for those less fortunate than me, indirectly.
Excellent summary
When I was a teenager we used to go to the local disco and get drunk everyweek. It would cost about 15 pound and I used to get 10 pocket money a week. Somehow, and i can't remember how, I always seemed to be able to do it every week
The real success comes, when you struggle and move forward.... Life is always fair if you be fair with life....
This is brilliant
Thanks Ali for making such good videos, you are one of the few people who changed my perspective on money and time, it matters to me quite a lot because am just 16 right now and just really thankful that I have access to such information, please continue making great valuable videos :) .
I have an additional point aside from the one you raised at the end of the video: I don't look forward to have a lot of good memories, but to experience an interesting and meaningful life in the present, right now! What value adds to have memories? I would rather do something interesting everyday for the rest of my life than only doing it once and spend the rest of my life remembering it. I live in the present and that's the moment in which I want to experience things. I agree, of course, that certain activities are better done at a certain age. But that does not mean they are impossible to do in another time. Maybe just differently or at a lower intensity, but still, doable.
Would you rather climb Everest once in your 30s or climb different mountains all over the world all your life? And, why do something that you like just once?
Well said. I agree whole heartedly with you. I have done some great things but the memories are vague. It is important to be doing things you enjoy regularly, even if they are more normal activities.
Good recommendation. I've been wanting to read this book but it fell to the back of my mind. Just purchased the audiobook off the Apple store. I've been saving to "break even" or make my passive income equal my expenses (at the current moment). I've definitely leaned too far on the save side.
I love this book reviews
Great video. Can i ask when you first out sourced your video editing and was it to the current editor you have right now?
Where do you purchase your glasses ? Great videos btw big fan of you man !!!
Your English fluency is my favorite dear also I following your way of speaking
Just found your channel, very cool 👌
Love all of your videos handsome doc😍
Welcome Back!
Your videos are so value packed and truly entertaining Ali! You never fail, there's always a takeaway that I can apply to my life or deeply ponder haha! Thanks so much for all the effort you put into making these videos for us and serving the world. Your work ethic is inspiring. You've made a huge impact and can't wait to see where you go! :)
1:55 I recognize this place it's Monaco ! I ate in this restaurant (Le quai des artistes) when I went there !
This book really change my way of seeing money.
Interesting perspective.
Love this content! Thanks Ali! :)
Love the theory behind this but not the best video to watch a week before I fly to Vegas hehe :p
Great review! Thank you for sharing it. Yeah, I agree that it is always a balance between how much you have to invest in these experiences, the time, health, work, and results you want. It is inspiring to think about and be aware of them.
I love this book and need to get it
Thanks bro you always make my day with this kind of vids👌👌
Glad you like them!
No seriously! He’s the best
The goat back again
Good points but I wish I could have been encouraged to start saving a small percentage of my income when I was in my 20s. Now nearly in mid 50s and have only a minuscule pension and not looking forward to potentially having less money when I’m older. I intend to work for the rest of my life but it will tougher to work as hard in my 70s
Experiences over anything else for sure!
Love this video!
hi from new fans
Ali - great job returning to the types of videos that first caused me to hit the subscribe button many moons ago. I got a lot of value out of this one. Your very basic hand drawings help to convey concepts that might be difficult to explain through words alone. Please make many more of these kinds of videos..
Nice video
Waiting for the “”what’s on my iPhone “” video ali😵💫😵💫😵💫
You are the best thing that happened to me via youtube !! Learnt a lot from you !! Thanks 😁
Wow, thanks!
I understand you clear Ali
As soon as I saw that SPA. That’s in Cambridge. Next to Quayside. I used to go 🤣 does he live in Cambridge?
Great video & so insightful
Would wish to know about ways of investing especially in an economically tumbling and unstable environment… Alex all the way from Zimbabwe
There is one thing he missed- Investing time in knowing yourself, meditate and be peaceful, it does not cost you money and the practice is usually started at the very end of one's life when there is not enough time to enjoy the peace and then regret about why you didn't start when you were young even though you knew the secret.
It's actually mentioned in the book. For activities you enjoy that does not cost much money such as walks in the park it simply means you can spend less time working and spend more time doing the things you enjoy.
love it
please make a video about your learning journey , the amazing stuff that you learned ,when you learn and how you learn so please make a video your JOURNEY..💛
so what you think about your learning journey you make video about this or not
I always have to watch your videos in 0.75 x
Ive never been rich per se, but goddamn ive lived one hell of a life. I been all around the world, been in bands, went to film school, interned in nyc, made music albums and films, smoked enough weed to kill bob marley, have so many incredible memories. Guess its time to save
Would this book be suitable for people at retirement age?
Great stuff always love your videos !!
the best decission i made was to subscribe to your channel
thank you Ali
ahhh this is such a problem! I am just starting making money but struggling soo bad to spend them.. thank you for the video, Ali!
Time for some yu-gi-oh tournaments.
What app you use for the anime that appears on your videos?
Great summary! I'll have to pick up this book
Hey Ali, I was just revisiting your video on the second brain, and noticed you were interested in creating a video about longevity. I was wondering if you had read the book "The Longevity Diet" by Dr Valter Longo? It's got some good information (although if you're looking for the biochemistry behind it, you won't find it in there), and is easily digested. Just a recommendation if you hadn't already read it! Another source I can recommend is the channel Leo and Longevity on CZcams, who is a biohacker with plenty of investigation done in this area.
Thank you for bringing back the art in the back. It feels like good ole times when I first started following you. Feels like home 😊
man, your family must be proud of you 😊 you are awesome in every single way. love your channel 👏
So, is this book any better than Die Broke? Does it cover any additional ground? Do I want to read it even though I've already read Die Broke?
Read this last year…great insights !
The real challenge is figuring out how to read the name of the book
I LIKE YOUR ACCENT , your voice tonality , how do i learn the same , any recommendations?
Get an accent reduction coach.
Best tips investing
In the same vein as Bill, Warren Buffet said “I want the check to the undertaker to bounce!” Lol.
Loved the yugioh reference as a mtg and ygo player myself🥳😂
Have any pdf of this book?
📌Do what everybody else is doing if you are okay with only having what everybody else has.Information that will pay you everyday, you've got to stop saving all your money. Venture into investing some, if you really want financial stability.
Choose to grow and elevate your mind by
studying audios,videos,attending conferences that will give you the edge!
Lately I’ve been thinking of buying cryptocurrency for retirement, I’ve set asides $350k to invest but along the line,I usually get cold feet, maybe because I have no idea what I’m doing, please I could really use some guidelines.
In situations like this,I always recommend to people on getting guidance at least from someone that understands price action and all that while you strive on improving yourself by watching videos and learning fundamental analysis.
@@stephenzouhir351 I started investing in cryptocurrency a little while ago and I’ve come to realize nothing beats first hand experience..Investing with Juan Antonio Landa has been the best experience ever.
Wow…..Juan Antonio Landa?
I basically follow her trade pattern and haven’t regretted doing so.Hence I can confidently say I’m impressed by my returns so far.
My takeaway:
Spend money on necessities, save some, and don't hesitate to spend on experiences. Don't just keep saving money with the fear that it might run out later in life. Spend money on experiences, kids, and charity while you're alive not after you're dead.
Expressions like "Money is energy" or "Money is life energy" can sound vague. However, when reframed as "Money is MY energy, my effort and action," the concept becomes clearer. This perspective acknowledges that our actions and efforts directly contribute to financial outcomes. Because now we are generating value that can show up as money, currency, capital, or equity. Our personal energy is recognized as intertwined with our financial resources, and so the link between our efforts and financial results becomes obvious when you think, "Money is my personal effort and action."
"Die getting all you can with from your money zero and your life." Very interesting title.
Ali are you Italian? 😂 I’m joking but your gestures are very Italian 🤌🏻 Btw, I loved this review! I think Italy (where I live) is one of the countries where people save so much, mostly because they think about retirement and kids… and unfortunately I was raised with the same mindset, which led me to have many worries about money and lack of it. So I really enjoyed this new and fresh perspective, even though I don’t agree with everything, but the idea of giving money to charity or to your kids during your life (and not at the end of it) I think it’s something crucial and hopefully will become more common! Thank you very much for this and many more videos I found really inspiring! ☀️
"Die getting all you can with from your money zero and your life", oh yes. Gotta love that book.
Invest in your health and the problem is solved.
Memory? Went on a Greek Cruise in 1992... I remember maybe 2 of the 5 (or6?) islands we went to, and of those two I just remember being exhausted. Travel is way over-rated.
No, it isn't. Drink less next time....