(MENAFN- Live Mint) A recent podcast on Red FM Podcasts featuring Ajay Jain, the founder of Delhi's iconic Kunzum books Art Coffee, has sparked widespread discussions online. Hosted by Yasmin Kidwai, the episode discusses a thought-provoking concept:“Die With Zero”.
A viral video clip from the podcast is drawing attention on Instagram. The unique approach to personal finance and living life to the fullest has gained nearly 6.5 lakh views.
Die With Zero
In the viral video clip, Ajay Jain explains the essence of the“Die With Zero” ideology, which encourages people to spend their wealth during their lifetime rather than hoarding it for later years or leaving it behind for inheritance. According to him, accumulating money that one cannot use in their lifetime is a wasted effort.
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“Don't waste time earning money you will not spend in your lifetime. There is a new school of thought now, which says 'Die With Zero', which means, whatever you have got, spend it in your lifetime,” he says in the clip.
Jain points out a common scenario in families: by the time parents pass away, their children are often well into their 60s or 70s, with little need for inherited wealth.
Instead of focusing on leaving a fortune behind, Jain advocates empowering children to be financially independent. He suggests that this allows parents to focus on meaningful, fulfilling lives.
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According to Jain, individuals should progressively spend their wealth throughout their lives. He highlights the importance of cherishing experiences and building memories.
“When you die, no matter what your bank balance is, what you are going to remember is what you did with your life,” Jain says.
Social media response to the viral video
Social media users have reacted to Jain's take on financial independence. The opinions are varied.
“Once you have crossed 25 to 28X of your annual income, you can listen to such things. Medical bills alone in old age run into lakhs at the slightest admission,” wrote one user.
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“I totally agree. Money is energy and we can view it with fear or freedom. Keep for the rainy day knowing needs reduce as we age......but living it up while you can,” wrote another.
“Totally disagree, that's what the big families want you to do, they don't want you to create generational wealth, while the elites only work for their families,” posted one user.
“Finally someone is thinking like me,” commented another.
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