This Week in Beyond Wealth
The “Die with Zero” philosophy and how people feel about it.
Deciding how much to give your children.
Private market vocabulary to know before investing.
Money & Markets
What do people think of the “Die With Zero” philosophy?
Bill Perkins' book Die with Zero argues that wealth should be converted into experiences during your lifetime rather than accumulated and left unspent. This includes giving to family or causes while you're alive to see the impact. Not literally zero, but a mindset against over-saving.
Proponents say this leads to a more intentional and fulfilling life, while critics argue it’s unrealistic, irresponsible, or overstates how much spending drives happiness.
We polled 400 members of the Long Angle community asking what they thought about it. 63% said they agree with the core idea of shifting wealth into experiences earlier in life, even if not every tactic lands.
A few themes stood out in the discussion thread that followed:
Early giving: helping children or family sooner is generally seen as more impactful than late-life inheritance.
Some found the book overly simplistic, repetitive, or better suited as a long-form article.
There's some disagreement on how much physical decline should shape when to prioritize experiences.
Life, Health, & Family
How much is too much to give your children?
Warren Buffet famously said, “I want to give my kids just enough so that they would feel that they could do anything, but not so much that they would feel like doing nothing.”
Two schools of thought on giving to children emerge in the Long Angle community:
Well-raised children will handle wealth responsibly regardless of the amount.
No amount of good parenting fully insulates a person from the behavioral effects of large, unconditional wealth.
Most people land somewhere in the middle, and timing often matters more than the amount. So “when to give to your children” may be a more important question than “how much?”
A common trust structure among Long Angle members that’s sensitive to timing involves:
A nominal distribution at 18, enough to cover spending money without meaningful financial independence.
More purposeful access in the late 20s for specific life purchases such as a home or business investment.
Larger tranches at 30 and 35.
Full or near-full access by the mid-40s or early 50s.
Private Market Perspectives
What do IRR, MOIC, and TVPI mean?
Private markets have their own vocabulary. If you’ve ever felt like you were reading a foreign language, you’re not alone and you’re not behind. Here are a few of the most important return metrics, in plain English:
IRR: Internal Rate of Return: IRR can be thought of as the annualized growth rate a private investment generates over its lifetime, accounting for the time value of money as capital is invested and returned.
MOIC: Multiple on Invested Capital: MOIC is the total value returned divided by the total capital invested. It answers the simple question: "How many times did I get my money back?” Always read IRR and MOIC together.
TVPI: Total Value to Paid-In Capital: The ratio of total value (realized + unrealized) divided by total capital invested. It's made up of two components: 1) DPI: Distributed to Paid-In Capital (cash already returned to investors) and 2) RVPI: Residual Value to Paid-In Capital (the manager's current estimated value of investments still held). TVPI and MOIC are definitionally the same:
DPI + RVPI = TVPI = MOIC
Long Angle’s full Private Markets Terminology Guide covers fund structures, the J-curve, GP/LP dynamics, and much more. Worth bookmarking for your next investment.
Around Long Angle
Stress-test your financial decisions with peers who’ve been there
In just the past two days, Long Angle members posted in the forum asking for advice and recommendations on:
Liquidation for a small business
Buying real estate
The stock market’s recent rally
Doubling of income overnight
Investing in a big-name private company
Replacing a financial advisor
Vetting a tax advisor
Learn from 8,000 peers who've already navigated the decisions you’re working through.
Published By
Chris Bendtsen
Insights Lead, Long Angle
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This material is for informational purposes only and is not investment advice regarding any security or investment strategy. Long Angle does not provide legal or tax advice, consult your attorney, CPA, or tax professional regarding your situation.
Long Angle Management, LLC (Long Angle), is an SEC registered investment adviser firm. Registration does not imply a certain level of skill or endorsement. Investing involves risk, including potential loss of principal. Past performance is not indicative of future results.