Doc G, writer at DiverseFI.com, shares his experience and mindset as he considers stepping away from his career as a doctor, and highlights the value of building purpose, identity and connection.
- Doc G feels conflict between a desire to stop working and a desire to carry on the good work of being a doctor.
- How did Doc G find financial independence?
- Having read The White Coat Investor’s book, Doc G’s mindset changed immediately, but life changes took a few years.
- There’s a real risk of burn out as a physician in the U.S. right now.
- Prior to finding financial independence, Doc G’s accountant said he’d need $10 million to retire, but never asked how much Doc G’s life actually cost.
- How does Doc G understand the role of fear in his life?
- The only way to really overcome fears is to actually face them.
- Doc G struggles to figure out what his role in the world is if he stops being a doctor.
- Purpose, Identity, Connection: What makes your heart sing?
- Finding your purpose and identity early in life can actually lead you to financial independence.
- Financial Independence is plan B, as plan A is living life with purpose, identity and connection.
- How to find meaning:
- Take on every new opportunity
- Say yes, all the time
- Search for meaning in the small things
- We limit ourselves by deciding something isn’t worth or time, or creates more fear than we want to face.
- How does Doc G feel about “YOLO” (you only live once)?
- Money compounds positively when we save it, but also negatively when we accumulate debt.
- Front-load sacrifice: do the hard work when you’re young.
- No matter what path you take in life, it really doesn’t matter so long as you find purpose, identity and connection.
- The FI community has created a space to have conversations about the things in life that are truly important, not just careers.
Links mentioned in today's show:
“150 Portfolios that are Better than Yours” – The White Coat Investor