The traditional retirement roadmap is familiar to most families across the UK: work hard, save diligently, live frugally off your nest egg, and try to pass down a house, investments, or at least a healthy bank balance to the next generation.
Advertisement
However, a growing cohort of future retirees no longer views this as the gold standard. Instead of striving to leave behind a maximum inheritance, they are opting to fund travel, create lasting experiences, and offer financial support to loved ones while they are still around to see the benefits. Their underlying objective is provocative: to utilise almost everything they have saved by the time they reach the end of their lives.
Yet can you realistically aim for a “zero balance” without running headlong into a financial catastrophe in extreme old age?
Why Save Money You Will Never Get to Use?
Francesca Baker-Brooker is 39; her husband Andy is 41. They own a flat in Shoreditch, work in London, and have chosen not to have children.
Despite being relatively young, the couple have already laid solid foundations for the future. Francesca, who works in public relations, has amassed roughly £400,000 across her pension accounts. Andy, a chartered accountant, targets a pot close to £1 million before stepping away from his career.
Their ultimate goal, however, diverges from traditional financial planning. The couple have no intention of spending their best years deferring gratification, only to leave a vast sum untouched.
Instead, they plan to spend their capital on travel, comfortable living, and shared experiences—gradually decumulating their wealth as they age.
Francesca puts it plainly: the necessary safety net is already in place, making endless accumulation for the sake of a larger number on a screen seem pointless. The couple would rather enjoy life right now than wait for an uncertain date down the line.
The Origins of the “Die With Zero” Philosophy
This approach owes much of its popularity to Die With Zero, a 2020 book by American investor Bill Perkins.
Its core thesis is that money holds no intrinsic value. It matters only because it buys time, autonomy, security, and life experiences.
Viewed through this lens, a substantial surplus left behind after death represents unspent life energy—hours exchanged for money that was never converted into anything meaningful.
Perkins also introduces the concept of “memory dividends”. A holiday, a family gathering, or a milestone event delivers enjoyment long after it concludes; the resulting memories compound emotionally over decades.
Consequently, there is a strong argument for spending earlier. A major trip taken at 50 is likely to yield far greater utility and enjoyment than the same itinerary attempted at 85, when health and mobility may well be constrained.
Passing On an Inheritance Sooner
Giving while living forms a cornerstone of this philosophy.
Most people inherit wealth when they are already well into middle age—frequently in their 50s or 60s. By that stage, life’s major financial hurdles have often been cleared: university fees are settled, property has been purchased, and careers are established.
The very same sum could be transformative 25 or 30 years earlier, helping a young adult secure a deposit on a first home, launch a business, fund further education, or avoid high-interest credit.
Advocates of this strategy suggest giving away a portion of wealth while still alive. This allows parents to support their children when it matters most, while enjoying the satisfaction of seeing the impact firsthand.
For childless couples, the decision is even more straightforward. Without direct heirs, deciding who gets the remaining capital—and why—demands active planning.
Francesca notes that many of her friends in London are also childless. In one case, an older relative hesitated to spend part of her savings on a holiday, feeling the money was effectively spoken for as an inheritance for extended family.
Her relatives gave a clear answer: take the trip; the memory matters more than a future bequest.
The Baker-Brookers take a similar line. They would far rather their own parents use their hard-earned money to enjoy their retirement than make sacrifices to inflate an inheritance.
