Rich in Memory Dividends

CONTEXT

Bill Perkins is a long-time hedge fund manager and author of the book Die With Zero. He came up with this concept of “memory dividends.” And I can’t stop thinking about it.

When you experience something wonderful (like a vacation), you get joy from it in the moment. But the joy doesn’t stop there, right?

You come home from that vacation and people ask you how it was. You show them photos on your phone. You smile as you tell stories from it. You fondly remember it months or even years later when someone mentions that place.

The vacation is the memory. But all of those extra moments of joy? Those are the “memory dividends.” It’s the ongoing “payout” you get after recalling something meaningful.

My takeaway? Plan the kinds of experiences that you’re likely to cherish thousands of times in the future. Here’s a 3-step exercise to get started. (Thank me later.)

METHOD

Step 1:

Grab a pen and paper—or use this workbook I built for you (free PDF). I released it 12 days ago and it’s already been downloaded 83,000 times. 🤯

Write down at least 20 experiences that you want to have in the next 10 years (e.g., places you want to travel to, skills you want to learn, ways you want to give back to your loved ones and community, personal growth goals, etc).

Think of the things you’d really regret not doing at least once. Be bold. Don’t hold anything back.

Curious what mine are? I wrote my personal list in that PDF. These are the 52 things I most want to experience across my Career, Health, Relationships, Lifestyle, and Social Good. Read through it to spark your own ideas!

(Side note: If you’re into adventure travel, I wrote an extra list here entirely about my travel goals. Remember—you’re writing down your wildest dreams.)

Step 2:

Next to each of those 20 things, write down at what age you’ll probably no longer be able to do them.

For example, I’d love to ski the Swiss Alps in Zermatt. ⛷️ But I’m guessing by the time I’m 60, I’ll no longer want to take the physical risk of skiing double blacks.

Important note: These experiences don’t have to be grand or expensive. Some of your most priceless memories may be from recording a conversation with your parents or grandparents as they tell you stories about their life. Maybe it’s hosting a small fundraiser event for a cause you care a lot about. Maybe it’s surprising your partner with a date night you’ve always wanted to try.

Step 3:

Here’s the important part. Decide exactly when (in the next few years) you will prioritize those. Literally, write down the month and year you plan to do it.

Most people put off the planning, assuming that they can “always do it next year.” Harsh truth? There will come a year when you can’t.

Maybe you want to take your aging parents on a vacation? At some point, they won’t be comfortable sitting on a long flight or walking long distances.

Maybe you want to backpack through Europe for 3 months straight? At some point, you might have too many responsibilities at home to take that much time off.

And the earlier you accomplish that goal or take that trip, the more “memory dividends” you’ll get to earn. In this New York Times article, David Brooks refers to this as building “identity capital.” He writes, “In your 20s, do three fascinating things that dinner companions will want to ask you about for the rest of your life.”

CLOSING THOUGHTS

Memory dividends aren’t just about the experiences themselves. Consider the importance of the people you share them with. The benefit of sharing an experience with a loved one? You both get higher memory dividends every time you reflect on it together.

I’ll leave you with a final quote from Bill Perkins: “Yes, you need money to survive in retirement, but the main thing you’ll be retiring on will be your memories—so make sure you invest enough in those.”

(Btw— if you don’t have time to read his entire book but still want to dive deeper, I highly recommend Peter Attia’s podcast episode with Bill Perkins. They go through most of my favorite parts of the book.)

Until next week,

Jade

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