Will You Run Out of Money or Time? FI Advice From a Hospice Doctor
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- Опубликовано: 30 июн 2024
- What can conversations with the dying teach us about the secret to financial independence? In this episode, Eric + Jason are joined by Jordan "Doc G" Grumet, a hospice doctor, podcaster, blogger, and author. Topics discussed include the mirage of wealth, living meaningfully, and Jordan's experiences eight years post-FI. Irrespective of your own retirement journey, you won't want to miss our conversation. See below for links to Doc G's book as well as the show notes.
**Show notes: twosidesoffi.com/DocG
**Doc G's book, "Taking Stock: A Hospice Doctor's Advice on Financial Independence, Building Wealth, and Living a Regret-Free Life": amzn.to/3xKvukv
Timestamps:
00:00 A doctor on FIRE
03:21 Money is not THE tool
07:26 The mirage of wealth
12:38 Lessons from the dying
16:20 YOLO vs deferred gratification
21:59 Finding purpose + identity
26:47 Living meaningfully
31:50 What is enough?
36:21 FI life changes
40:31 You are not prepared!
**Show notes, tools, resources + information: twosidesoffi.com
**Our podcast: twosidesoffi.com/podcast/
**Eric’s "NOW" page at 30X40 Design Workshop: thirtybyforty.com/now
**Jason's blog: thenextphaseisnow.com
**Eric’s RUclips Channel: thirtybyforty.com/youtube
#twosidesoffi #financialindependence #firemovement
@30by40
**Note: This content does not constitute investment advice and is being presented for informational and educational purposes only.
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Did you enjoy the episode? If you did, please share it with friends or family. We’d love to get these kinds of conversations spread more broadly! Thanks
It was brilliant. Jordan was very good at articulating ideas, feelings, and viewpoints.
This is the best episode yet. Literally brought tears to my eyes. I could list dozens of great extracts from the interview, but the one that most resonated with me was that people are concerned about running out of money, but never running out of life. What a powerful statement. All my concerns about my identity (by identify I mean what I have built over the years around my career, not necessarily who I really am) seemed so small and pitiful compared to the possibility of running out of life. Thanks for these greats insights - a lot of food for thought. By the way, I am buying the book - eager to read it!
Thanks so much for sharing this, Andrea. We're so glad to learn that you liked this episode. It is comments like yours that make this all worth it. We're very appreciative of your support. You're gonna love the book! Best wishes to you in all things.
As a personal advocate of hospice and palliative care, and pre-FI by 2 years, it is refreshing to hear financial values and priorities aligned with life values and priorities. Once the societal scales fall from our eyes, we are free to use the tool of money to create a life best lived. Thank you guys! Memento Mori IS the why for the RE in my FIRE.
Well put, Susan. Thanks so much for sharing, and best wishes to you
I'm a nurse. I have given so much of my energy to my patients. I feel so tired often. I know I am out of balance. After a divorce and no children, I sometimes feel, what happened. This wasn't what I wanted. I am financially ok, but a couple of recent set backs have me feeling concerned. Both my parents are 86 and I try to help as much as I can with them living 2 hours away. Praying and focusing on intent. I miss fun and connection. Just simply being. Thank you for this interview.
Thanks for all that you do, Colette. We have the utmost respect for nurses and healthcare workers in general. Best wishes to you and your parents. We're so glad you enjoyed the episode. Take care
@@TwoSidesOfFI thank you so much! Tonight, a former patient brought me a windchime he made. He said he grew up on a farm and his grandma used to love windchimes. He is very artistic and it's so beautiful, but the true beauty is the expression. I am so grateful. Thank you again for what you do and your kind words.💖
The comment about how a newly-FI person has the same existential questions as a patient on hospice was a very astute observation and resonated with me very strongly. Ultimately so much of our daily activity is in order to answer the question of where our money is coming from and where it’s going. Once you remove that question - either because you have enough money or because having it is no longer important - then you can start asking and answering the other important questions. Thanks for a great episode.
Thanks for sharing, Joe. So glad you liked the episode.
As a fellow healthcare worker, this reeeeally resonated with me. Loved it. Definitely going to order his book. I’d love to see him go on a podcast with Zdogg MD and discuss healthcare worker burnout and FI. Perfect opportunity!❤
Zdogg is great, right? Glad to learn you enjoyed the episode. The book is really good and I'm certain you'll appreciate it a lot. -Jason
Hey hey, Rebecca; I see you! This episode was very good. 👍 Goes well with your video responding to "blanket advice" on FIRE. Completely changing your job is not always an option. There's a cost for staying the course as well as for shifting your position. You do a great job of showing the balance between grinding it out for years and choosing creature comforts along your quest.
Please go enjoy your favorite canned beverage of the moment! 🥂
Best episode yet. This will be hard to beat! Good information for those who are young and focused on FI, also need to focus on life. The most valuable thing we have is TIME
Thank you! So glad that you enjoyed it.
Wow! Awesome episode! It may in fact be your best yet. I think maybe because it's focus is on getting to the Why? The discussion really helped put some perspective on FI relative to our lives. I am one of those who woke up in the past year to the realization that I already reached FI, I am unfulfilled by my job. Yet I haven't made a change. I am going to read this book. Keep up your good work. Thank you!
Thanks very much. So glad to learn that our chat provided useful perspective for you. Congrats on reaching FI and best wishes to you in finding true fulfillment. Keep us posted!
I love Two Sides of FI and look forward to every show! This just might be my favorite content!! I am 56 years old and three months from retirement. I put my notice in a month or so ago and as soon as I did, I went into a little panic. I feel very confident about our money situation, I've done my homework and although the market is freaking me out, I still feel like we're going to be ok. But as I am getting closer to retirement I realize that there is so much more than the financials to consider. I want to live my best life and I realize that just leaving work (a job I love!) doesn't mean I'm going to be living my best life. I still have so much more homework to do in preparation for living my best life - which will now include reading the doctor's book too!! Oddly enough, my plan has always been to volunteer with hospice in my retirement. Our family benefited from the care and services hospice offered both of my parents when they passed. Thank you Jason and Eric for having Doc G. on your show and sharing this human and heart-filled perspective of preparing and becoming financially independent!
Thanks so much for your kind words. Congratulations to you on taking this big step into the next chapter of your life! It is totally normal to have some trepidation or hesitation just as with any huge decision. Thinking about these topics can only be of benefit to ensuring you are successful in all that is to come from this point on. We wish you all the best on your journey.
I think people reach that realisation in life at different stages of life. I had a health scare when I was young. Honestly in the moment when I was provided that diagnosis everything else really became white noise. After that incident it really reminded me that life is so short and things can be completely outside of our control despite our best efforts. So hope for the best, plan for the worst, but most importantly, enjoy NOW.
Very true, Marg. Thanks for sharing. Best wishes to you!
Great job guys. This was one of the less than 1% of videos that raised my pulse. Death is so uncomfortable to talk about, especially for goal oriented people. The phrase "money [only] solves money problems" reveals the truth that people may come to find, after retiring, that they haven't confronted the other problems they might have.
Thanks! Sorry to learn it raised your pulse. Death has always been a very challenging topic for me. I feel like I've had existential dread from such a young age. Best wishes to you - Jason
@@TwoSidesOfFI raising my pulse is a good thing! Memento mori indeed. Great great video.
Really great episode. I'm recommending it to my wife, my neighbors, anyone who will listen. I can so closely relate to the desire to get the money part right, seeking optimization and steady returns over time to achieve a target in the future, but also trying to figure out a way to live a meaningful life in the meantime. It's a surprisingly difficult balance to strike. This episode really reinforces the need to make deliberate, conscious choices to build and live a life you can be proud of. Great content.
Thanks, Mike. We really appreciate you sharing it and are glad to learn the episode resonated with you.
Awesome episode!! Really resonated with me. Especially the part about we worry about running out of money and not running out of life. So true! Arguably one of the best episodes in this channel so far. Loved this so much!
Thanks very much, Katrina! That part resonated with us as well. We truly appreciate your support. Please consider sharing this ep with others who might benefit from our conversation!
Really enjoyed this episode. Thank you for your podcasts
Thanks! Really glad you liked it
Wow, that was a discussion full of wisdom! Thanks for inviting Doc G
You're welcome! Glad you liked it, Emmie
Agreed - that was a blast 😊
Great episode. I'll be thinking about the contents for quite a while.
So glad you liked ir
This is one of the BEST and meaningful shows you two guys have shared! Tons of great points!
Thanks so much, Duane! So glad you liked it
I really appreciated this episode. It was so timely as these are things I’ve been thinking about a lot lately. Especially designing a fulfilling life on our journey to FI and loved the whole conversation, very valuable!
Thanks, Carey. Really glad to hear it hit home for you.
This topic has been bouncing around my head for a while. Thank you for the great content. I ordered the book.
Hope you enjoy it!
Excellent episode! 3 minutes in and it resonates with how I think about my job now. Thank you!
You are so welcome, Anh!
Great Episode. This has given me a lot to think about. I now realize I still have a lot of work to do besides just the financial aspects of FI. Thanks for doing this show. Love it.
You’re welcome, Bryan. So glad you liked it. Best wishes to you in all things
Great show! Love that quote we are too worried about running out of money and not running out of life! Maybe too long to fit on a T Shirt. Great non money related episode and focus and gravitas toward life essential soft values. Much appreciated guys great evolution of the show!
Thanks, Andy! That message was one of the central ones for us that came out of our talk. We are so glad you liked it.
AMAZING! This was such a profound conversation about FI with so many important lessons. I will definitely be listening to this again. Thanks for introducing us to Doc G! I'm getting his book.
You’re welcome! Enjoy the book and thanks for your support.
Valuable and thoughtful discussion! Very relatable, I needed to watch this today. Looking forward to reading the book!
Thanks! Glad you liked it. Enjoy the book - it's a great read
Wow - I think you're getting better with each episode 🙌🏻
Thanks! We appreciate that. Having a great guest really helps too
Awesome conversation! Thank you for sharing.
You're welcome, Afonso. So glad you liked it
Thanks, best episode yet.
Thank you!
I just love this conversation. I feel like we often imagine that we are defined by our work, but The truth is The other way around. WE define our work. We do what we do in our very own way. Being without a paid job in retirement won’t define me. Hopefully I will bring everything I have to offer to that stage of life. Just have to be a bit patient with ourselves.
Thanks for sharing! We love how you stated this. Best wishes to you in all things.
Loved this Episode
glad to hear it!
Best episode ever! People seem to take things too extreme, either enjoying the present too much like no tomorrow or deferring gratification like you are not living now (more found in pre-FIRE community), maybe we all should start the inner dialogue early on about purpose and identify. Why they don’t teach this in school/Uni? Because most of the teachers, principles, professors haven’t figured it out themselves or even consider to figure it out. Having said that, agreed with what Doc G said “it’d be a mistake NOT to consider financial independence.” You need to consider FI first when you searching your purpose and identify. Great content, thank you Eric and Jason!
Thanks, Irene. We're so glad you liked it. It's hard to argue that it's never too early to start thinking about such essential topics.
Excellent episode. Thank you for shining a light yet again on this subject. I'm facing a crisis of purpose after my elderly parents died, going from full-time caregiver to a free man and I'll be damned if I go through this again when I retire in 5-10 years. I am going to start with a 6-month recurring review of my goals, thinking of money as a tool rather than a goal. "Memento Mori" indeed. Thank you so much.
I understand Dave. Prayers
Thank you, Dave. Our condolences on your loss. Sounds like a recurring review process could be a really powerful tool for you. We wish you all the best.
This was an amazing episode
Thanks!
I agree! watching for the second time, now with my husband! haha
@@andreadaroz9673 Thank you! So glad to learn you liked it
Great video. I do think that the FI/RE community often pushes too hard on delayed gratification at the expense of enjoying the present. Our future is not guaranteed no matter what we accumulate, and one day we will die. As a child growing up, delayed gratification was always preached and rewarded as the "wise" path, but rarely enjoying the present: thus such a mentality is hard to break for us 'savers' out there. I think once you find yourself "financially flexible," though still far from FI, maybe 20-50% of your FI number, you can allow yourself to let off the gas a bit, and focus more on pursuing your purpose right there and then. If you are lucky enough to find it earlier in life, then I reckon really you've just found a short cut to what really is the ultimate FI/RE destination. Would you not be better off if you discovered a rewarding and enjoyable line of work earlier and only had to push your FI back ten years in return?
Thanks, darylkizer. Like all things in life, we think balance is the key. Thanks for sharing your thoughts.
Main lesson here, which is what I’m trying to follow, is that FP (finding purpose) should happen along with FI (financial independence). I think the concept of “retirement” has also evolved from what it used to be, It used to mean “siting around doing nothing” and now mean “doing something fulfilling”. Which leads me to the thought (which the guest discussed) that purpose should be found much earlier not when you retire!
I'm a little late, but great episode guys.
Thanks, Scott!
Very good thank you. Maybe I will quit my job now…but the damn market is going into the shits..
Quite a bit of overlap between this episode and today's sermon at church. Weird and awesome. Great episode.
Glad you liked it, Mike. Thanks for your support
Superb
Thanks
Great content! I’ve played the “I won the lottery game” and that sure helped me figure out what I want to do. That and also I just lost my dad (he was 91); losing a parent at old age helped me recognize I too have my own expiration date.
Thanks, @FGdS. Very sorry for your loss.
Great conversation. I’m in the healthcare too… but no where near FI.
I think the recurring theme = money is a tool and it’s a “currency”… it’s supposed to flow in the world and hoarding it won’t do you any good.
I also liked the analogy of money = oxygen. You need bare minimum to survive, but the overabundance won’t do you any good either.
(FYI, if you get too much oxygen in your body, it gives you seizure. I witnessed it once in a patient after hyperbaric oxygen therapy and it was scary… how is that for an analogy).
Thanks, Kazu. So glad you liked it. Very true about too much oxygen!
I've avoided this ep, cuz that title is dark! But the comments are encouraging, so I'll give it a view. Phew!
Thanks for checking it out, Karla. Let us know what you think after watching it!
@@TwoSidesOfFI
The discussion was a lot more motivating than depressing. Very nice!
I guess the thumbnail is a good way to kick off October/Halloween/Spooky season. 💀
I'd love a video going into the topic of being go-go people and how the anxiety you are accustomed to managing doesn't go away after you FIRE. (44:00) How do you channel that energy post-FIRE? Or do you finally chill out more? 🥶
@@karlaconnwelch Very glad to hear that, Karla. We found talking with Jordan very motivating, ourselves! 🎃
My husband spent his 6 months under at home hospice care just as he had spent everyday since his retirement as a CFO: following the stock market and worrying about providing for his children and me after his death even though we had achieved FI years ago… He passed away 3 months ago at the age of 66.
We are sorry for your loss, Annie. Best wishes to you and your family.
I'm going to run out of both, when this market completely crashes, I'm going to have a heart attack
Take care of yourself, Bill. These certainly are stressful financial times.
😂
Don't underestimate the heart. It can be very hopeful in uncertain times.
do u have an audiobook version of taking stock?
There is: amzn.to/3DYrQHK
I don’t feel like I have a lot in common with this discussion. I think I’m pretty typical though. I don’t have a career, I have a job. I’ve gotten lucky and made some good decisions and now I’m FI at 53. I’ll RE next year. I’ve never found my purpose and it’s ok, I’m a happy person. I don’t see needing a purpose or need to accomplish things in retirement. So many people I’ve talked with about this are similar in they never sunk themselves into a career so having a purpose driven life in retirement isn’t something they are looking at. I think you may be missing a large portion of potential viewers.
We are all individuals, right? No judgement there. Congrats on achieving FI.
Have you guys ever thought of not doing this over zoom and instead doing it on a podcast type form like the iced coffee hour?
Here's the podcast link if you prefer: twosidesoffi.com/ourpodcast/
@@TwoSidesOfFI sorry, I was meaning for the video quality. I think your content is awesome and I think for the average viewer the only hiccup would be the quality of the video isn’t great and so they may shut it off before giving the material a chance. I love you guys, keep up the great work!
Video quality is just fine. This was my first episode I've ever watched, it was great! Looking forward to future episodes.
I am a regular viewer and I think the video quality is great overall. The contents are always of high value
Enjoy the present without destroying the future
SENECA the Stoic
🍻
make now meaningful...
Well put, Nelson!
@@TwoSidesOfFI thank you for a wonderful and meaningful episode 🙏
WODO, We Only Die once.
Very true, Steven
Good reminder.
I hate the turn your hobbies into a cash stream. It's not a hobby then it's a second job at that point.
This is certainly a risk, Jacob, and one worth considering.
....seriously -appreciate your content and titles are interesting....
BUT - 40min or longer....😐💤 (please consider making shorter content! 😀🥳⏳
ruclips.net/video/BSjXFwQPc5w/видео.html