Comments on: Review: Die Broke

By: Jay

Jay — Tue, 26 Jun 2007 12:33:14 +0000

Let my dollars (taken as taxes) pay your medical expenses so you can enjoy world travels instead?

I don’t see that being fair.

By: Chessiq

Chessiq — Sat, 09 Jun 2007 16:01:54 +0000

I believe in leaving the world better than I found it. I am not sure dying broke would serve that purpose. In agreement with !Wanda above, if you leave medical bills or other bills for anybody to take care of after your death – and the money they use is not yours – you have just left the world worse off.
I would rather accumulate wealth and be financially independent when I die than die broke. It sounds better and more motivating to me. If I decide I don’t want to leave my wealth to my family, I would rather give it away to worthy philanthropic causes that I believe it than spend it all before I die.
Paying cash for everything & Quitting sound good.
Nice review, Trent!

By: !wanda

!wanda — Sat, 09 Jun 2007 08:51:00 +0000

I second Andy, and I’m not old either. The average American underestimates how long he or she will live. In addition, medical expenses during the last year of life are usually much, much higher- I found a study that says on average 5 times higher- than medical expenses during nonterminal years. That makes sense, since most people die of medical problems, in a hospital. If you plan to “go broke” during your last year of life, you may still be leaving your family a hefty hospital bill! It may make sense to plan to not leave a million dollar estate, but please, please to leave yourself a substantial margin for unplanned expenses.

By: rod

rod — Sat, 09 Jun 2007 05:19:38 +0000

I use this book and your money or your life as my 2 guiding theories. It is a good read, and lays out a new way of looking at yourself and employment. If you combine Die broke aspects to a frugal lifestyle the blending becomes a real treat.

By: Hamburger Flipper

Hamburger Flipper — Fri, 08 Jun 2007 23:05:44 +0000

This book makes the task unnecessarily complicated.

I don’t have to change a thing to Die Broke.

By: Andy

Andy — Fri, 08 Jun 2007 16:28:38 +0000

I wonder how old Stephan Pollan is? Has he noticed that a lot of younger people have already jumped off the corporate rat race and into self-employment? And, in fact, taken his advice to spend it all — though not his advice to buy everything with cash.
I’m 60 and looking forward I can tell you that it is the unexpected event that derails retirement income — and you better have more resources than you think you’ll need. When an aged parent suddenly needs assisted living at $5,000 a month, and will spend through her assets in 6 months, and you’re 60 years old and already kicked off the corporate merry-go-round … die broke is not such a happy sounding “goal.” I quit as a financial advisor because I couldn’t stomach the crap being paraded as “advice.” In America today, self-sufficiency is all that matters, and that includes managing your own assets so you don’t lose principal. But a salute to you for having had the intestinal fortitude to read 35 personal finance books. Cheers.