How the ‘Die With Zero’ Philosophy Can Transform Your Saving and Spending Habits

With traditional retirement planning, you typically try to save all throughout your working years, often by living frugally, which ideally gives you enough funds to last you your entire retirement. You might even have some money left over to give your children as an inheritance. The “die with zero”(DWZ) movement, in contrast, says you should spend and give away all of your money throughout your lifetime so that you can maximize your sense of comfort and number of positive experiences.

Each approach comes with its own pros and cons, and there’s a lot to consider. So for this article, we connected with an expert to help you figure out if the DWZ strategy is right for you.

What Is a Die-With-Zero Retirement?

The DWZ strategy “encourages you to maximize spending throughout your life, not just in retirement,” says Jill Fletcher, a certified financial planner with Cary Street Partners. “The name ‘die with zero’ assumes that you don’t need your money to outlive you, so it’s okay to spend it throughout your life, rather than hoarding for retirement.”

Instead of focusing on optimizing wealth for retirement, DWZ is a call to action to optimize your wealth throughout your lifetime.

As Fletcher says, “a ‘die with zero’ mindset would tell you to take the Yosemite backpacking trip in your 30s and save the Yosemite Valley Lodge stay for when you are in your 70s.”

Benefits of the Die-With-Zero Strategy

With a DWZ strategy, you don’t have wait until retirement to start doing things you enjoy. That often means prioritizing unique experiences. For example, if you were following a DWZ strategy, you might take several memorable family vacations, rather than waiting to travel when you’re retired.

However, following DWZ doesn’t mean you should live beyond your means. Take that week-long safari abroad if you can afford it—but only if you can afford it. (That means you pay for it with cash, not credit cards or loans.) The idea is to balance your present joy with your long-term goals.

Fletcher notes that this strategy can help make the transition to retirement easier—that is, some people who follow a traditional retirement strategy find it difficult to start spending money after saving for retirement for decades.

“Going from accumulating wealth to using your wealth can be quite a challenge for some fresh retirees,” she says. “The DWZ mindset may potentially prepare someone for this shift that takes place in retirement.”

And the DWZ approach doesn’t preclude you from providing money to your loved ones. While you might not be able to give them an inheritance after you die, you can still give them gifts in smaller amounts throughout your lifetime.

“Gifting throughout your lifetime … can be done in a strategic, tax-efficient way,” said Fletcher. She recommends taking advantage of annual gift tax exclusion, which in 2026 is up to $15 million.

Downsides of a Die-With-Zero Mindset

DWZ does come with one major risk: you might not have enough money left to last you through your entire retirement.

“No one knows the exact date and time they will die, so there are risks that we must hedge against,” Fletcher says. These include the rising costs of healthcare and long-term care, as well as living longer than expected.

When planning for retirement, you may find it helpful to rely on projections and reports like the Fidelity Retiree Healthcare Cost Estimate, which can help you predict healthcare and long-term care costs.

To help you predict how long you’ll live, you should evaluate your current health status and medical history. This can help you determine how long your retirement horizon will be.

The Bottom Line

It’s possible to live within a DWZ framework and ensure you have enough money in retirement. Consider opening tax-advantaged retirement accounts—like 401(k)s and traditional and Roth IRAs—and diversifying your investments.

In addition to putting money away regularly, earmark some money for travel or gift giving.

“Preparing for a retirement that protects against risks, such as long-term care needs, should not be put aside,” said Fletcher. “The DWZ mindset flirts with certain risks and factors while at the same time holding you accountable to living in the present.”