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On board today is Dr. Jordan Grumet, better known as Doc G from the DiverseFI blog and the host of the incredibly popular Earn and Invest podcast, but he's also the author of the blog, In My Humble Opinion. Doc G specializes in palliative care and despite reaching FI continues to work in the hospice part-time where he compassionately helps people through the final stages of their lives. Unlike most doctors I know, Doc G is pretty amazing when it comes to money. He sees it as a tool that we can use to improve our lives and live a more fulfilling life. He even says that becoming a money expert became his second career, and it was incredibly fulfilling to him to help put the veil back around money and help people find their true identity, purpose, and passions in life. In addition to his award-winning blog and podcast, he has written and published two books with his latest book being titled, 'Taking Stock, a Hospice Doctor's Advice on Financial Independence, building Wealth, and Living a Regret Free Life.' Doc G has observed that as a community, though we're pretty obsessed with investing, we're probably not interested enough in our own unique purpose, identities and connections. Although he has helped thousands of people transition from life to death, he says, we don't actually have to wait for a death sentence before we start searching for meaning and ask the important questions. He wants to remove the hurdle of good money management so that we can all learn to live well today. Doc G was incredibly inspiring and forced me to think differently about FI! Jump in!
The 68th NewRetirement podcast. This time, Steve Chen is joined once again by guest Doc G — a financially independent part-time physician and current podcaster and author — and discusses Doc G's new book, Taking Stock. This is Jordan Grumet's second round on our podcast and he's also been gracious enough to invite us onto his What's Up Next podcast.Try out the NewRetirement Planner for free: https://www.newretirement.com/planner/signupProduced by Davorin Robison & Brian Blaesing.© 2022 NewRetirement Inc.
Listen Now: Listen and subscribe to Morningstar's The Long View from your mobile device: Apple Podcasts | Spotify | Google Play | StitcherOur guest on the podcast today is Jordan Grumet. He is a physician and an associate medical director at JourneyCare Hospice. He also hosts the popular “Earn & Invest” podcast, which he launched after years of blogging about financial independence and wellness at the website DiverseFI.com. His latest book is called Taking Stock: A Hospice Doctor's Advice on Financial Independence, Building Wealth, and Living a Regret-Free Life. In it, he shares lessons that he has learned from interacting with patients during the last parts of their lives. He received his undergraduate degree from the University of Michigan and his medical degree from Northwestern University.BackgroundBio“Earn & Invest” podcastTaking Stock: A Hospice Doctor's Advice on Financial Independence, Building Wealth, and Living a Regret-Free Life, by Jordan GrumetDiverseFI.comFIRE MovementJim Dahle, The White Coat Investor“Jim Dahle: ‘Income Is Not Wealth,'” The Long View podcast, Morningstar.com, Sept. 2, 2020.“Coping With FIRE,” by Jordan Grumet, earnandinvest.com, June 5, 2021.Other“The Opportunity Cost Fallacy,” by Jordan Grumet, diversefi.com, June 5, 2018.
Docs Outside The Box - Ordinary Doctors Doing Extraordinary Things
“Winning is hard when you’re not sure what the goal is.” — Doc G What’s good everyone? Have the thought of leaving medicine ever crossed your mind? I mean who hasn't daydreamed about quitting their job to pursue their passion? Maybe you thought that being a physician is your calling but— what if this calling burns you out or doesn’t make you happy anymore? Would you still stay? In today’s episode, I got Doc G to confess with us why he left his full-time medical practice and pursued a path that really brought him joy. Doc G is a former high earning physician who is behind the medical blog, DiverseFI and the host of Earn & Invest Podcast (Formerly What’s Up Next). Doc G and I are going to discuss his financial freedom journey and how he put himself in a place where he can retire when he wants, do what he wants, and enjoy all of it! These are the five main things we discussed in this episode: Doc G shares his early experience with medical blogging and how he started DiverseFI Shattered expectations and moving away from being a physician The anxiety of knowing and feeling like that what you do isn’t for you anymore Discovering your real passion, making a living out of it, and redefining success in your own terms How he answers #imnotjustadoc The Guest Doc G was an internal medicine physician when he discovered the personal finance community through a book called The White Coat Investor. Since then he has left clinical practice to pursue his passion for deep conversations about money and life. Earn & Invest | Twitter | Facebook Community | Instagram Resources Mentioned: GruntDoc — Ramblings of an ER Physician DiverseFI - Personal Finance With a Twist Transcription: (coming soon) Love the show? Leave a review so I can continue to improve the podcast! “Having the Darkos describe their journey provided a solace that no sort of debt counseling would ever bring about. Anyways, this show is consistent in the fact that it always delivers gems and enlightens listeners. I’ve shared the podcast with my classmates. Please keep up the great work!” If this sounds like you, rate with five stars, and leave a review!!! >>> RateThisPodcast.com/dotb This episode is sponsored by: Set For Life Insurance. Helping clients prepare for the worst so they can be SET to live their best lives. Check them out at https://www.setforlifeinsurance.com/
On today’s episode of the BiggerPockets Money Podcast, Co-Host Scott Trench teams up with two personal finance superstars in Whitney Hansen and Doc G of Diversefi.com. Together, they hear four “life after FIRE” stories, each completely different, each extremely powerful. We talk with a business owner struggling with millions of dollars in debt who was able to sell his business, re-write his career (he is now a business coach), and get a new handle on his time. Another guest retired with her husband in 2012 and together, they took on adventures and traveled the world together. Financial independence made all the difference for them in allowing them to experience as much of the world as possible, as her husband passed away a few years following early retirement. A third couple left their high paying jobs at the height of their earning potential to travel the world together, and they could not be more thrilled with their decision or excited about life. And finally, we interview the CTO of ChooseFI, William, who was able to retire early, overcome the loss of his wife, and use his financial freedom to pursue the job of his dreams with a great company, and provide for his children. These stories highlight the importance of achieving Financial Independence and using it to make the most of our lives. In This Episode We Cover:What their life looks like after FIRE and the challenges they facedWilliam's journey to financial independenceThe advantage of being financially independent in the workplaceHow they plan for caregivingTim's backgroundFinancial Independence Rewired EarlyThe importance of having a clear second actThe difference between working on his business and working as a coachThe FIRE lifeTim's advice for anyone who's looking to pursue financial independenceRachel and Paul's backgroundsOn their mission 50 by 50Oma's backgroundOn healthcare costLinks:Mr. Money MustacheMad FienstistThe Money Nerds PodcastWhat's Up Next PodcastAltus Business AdvisorsTim's email
Richer Soul Life Beyond Money. You got rich, now what? Let's talk about your journey to more a purposeful, intentional, amazing life. Where are you going to go and how are you going to get there? Let's figure that out together. At the core is the financial well being to be able to do what you want, when you want, how you want. It's about personal freedom! Take away: Life is short, don't live it with regrets. Action step: Open your self up to opportunity and say yes. Money Learnings: Doc G's dad passed away when he was 8. He grew up protected from the money situation. When his mom remarried his parents modeled great financial behaviors. They would share life over the dinner table. Doc G brings his kids to his real estate dealings and he hands them a yearly allowance to handle. Bio: Doc G is an internal medicine physician who recently entered "half retirement" and spends his time as a hospice medical director, writer of the personal finance blog DiverseFI.com, and podcast cohost of The What's Up Next Podcast. Which is a really cool new podcast that features real conversations lets meet our guest. Link to this episode: Link Highlights from this episode: The yearly allowance for his kids. The power of money mistakes at an early age. Building generational wealth as a family. The lessons at the end of life. People die the way they live. Death can occur with dignity. The current state of the health care system. Taking responsibility for your health care. Building wealth and creating financial independence. Money Mindsets Lifestyle inflation and what's reasonable for you. Making the right choices with work and money. Is your identity tied to your title? Shifting the power at work. The different paths to creating wealth. When money is your goal, and you achieve it, then what? Being intentional early in life creates amazing lives. How to handle an ever changing world. Mindset bests skill set. Building great skill sets. DiverseFI.com What's up Next Podcast Twitter @DocGDiverseFI https://www.facebook.com/docg.diversefi.3 Thanks for listening! If you like the show please leave a review on iTunes: http://bit.do/richersoul https://www.facebook.com/richersoul http://richersoul.com/ rocky@richersoul.com Any financial advice is for educational purposes only and you should consult with an expert for your specific needs.
104 | 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. For more details, visit the show notes at https://ChooseFI.com/104
Plan A is life. Financial independence in plan B. Do you agree with this statement? Today we have Doc G - a physician who reached FI before realising what he'd done. He then discovered the FI community and now focuses on the philosophical aspect of FI: finding your purpose, the importance of being employed and fulfilling your identity. You'll love his story. We also chat about... The emotional aspect of FI How he reached FI and discovered the community His blogging journey The amazing influence of the community Why he loves what he's currently working on Enjoy this chat with Doc G, and please subscribe to us in iTunes if you enjoyed it! Show notes and links from today's episode Doc G's blog: DiverseFI Doc G on Facebook and Twitter Episode: White Coat Investor Key takeaways from our chat with Doc G 1 - FI is a huge part of our identity Doc G explains how he felt when he realised he had reached FI: depressed for several months. This was because he realised that he no longer enjoyed his job, and quitting and being FI meant losing that identity as a physician. When you spend years working in one job, of course it becomes part of your identity. Reaching FI and quitting means you lose that identity - which can be very hard to accept. Doc G also explains how FI in itself can also become a huge part of your identity; you can get so involved in the goal that you forget that FI is 'supposed to be a plan B'. 2 - Life is Plan A, FI is Plan B What does Doc G mean when he says this? Basically he means that best case scenario you get a job that you love and want to dedicate your life to. This is what you want to be aiming for. Plan B is FI - if you get a job you dislike and don't want to do forever, then FI is your 'escape hatch'. This is what Doc G is doing now (also called FIOR, Financial Independence Optional Retirement), where he works 10-15 hours a week and devotes all his free time to his passion of writing, communicating and speaking. 3 - The FI community is life changing Anyone who's part of the FI community know how amazingly supportive it is. Doc G and Gwen talk about how they felt always out of place in school, work, college, etc. The FI community is a place where everyone is welcome and extremely supportive, and where people keep pushing you to become a better person, improve your life and lifestyle. As Doc G says, FI is irrelevant if you always know how to make money, what makes the difference is the community. Questions? Like or dislike? Leave us a comment! Want to support the podcast? Here are three things you can do. 1. Start tracking your net worth with Personal Capital using our link. It's free. 2. Subscribe to our YouTube Channel and get one extra LIVE episode from us per week. 3. Join our Facebook group and connect with other members of the FI community.
There is a lot about the headspace of financial independence that intrigues Doc G. “It’s not just getting to financial independence, but also what happens once you’re financially independent.” For him, it was a road fraught with depression, vertigo, and a path to self-actualization that has driven his wildly successful blog.
Doc G of DiverseFI.com shares with us how he increased his primary care income to almost 7 figures. I have always been impressed that the intraspecialty income differences are so dramatic compared to the interspecialty income differences. Even if you are in one of the lower paying specialties, there are things you can do to increase your income. If you found this podcast useful, visit our blog at http://whitecoatinvestor.com/ for more personal finance and investing information. Find an engaging and helpful community in our forum at http://whitecoatinvestor.com/forums/ This episode is sponsored by Adam Grossman of Mayport Wealth Management. Adam is a Boston-based advisor and works with physicians across the country. Unlike most other advisors, Adam offers straightforward flat fees for both standalone financial planning and investment management. Whatever stage you're at in your career, Adam can help you get organized with a personalized financial plan and can help you implement it with a low-cost index fund portfolio. Adam is a Chartered Financial Analyst and received his MBA from MIT, but more importantly, you'll benefit from Adam's own personal experience with many of the same financial obstacles and opportunities that face physicians. To learn more, visit Adam's website mayport.com/whitecoat to download a free e-book especially for physicians.
The first portion of this podcast is feedback from last week's episode: The Low-Hanging Fruits of FI. Anonymous talks about Project FI and tells us about calling to get cell phone data reports. Cody's mom asks us to clarify how WiFi works. Luke from Forming the Life talks about the power of automation. Jeremy corrects Cody about AskTrim and mentions Truebill. Mike weighs in about Sling TV for watching football. Emily tells us about saving money on groceries with Checkout 51. Camp FI South The second portion of this episode was recorded LIVE from Camp FI South! Whitney Hansen of Money Nerds, Paul Thompson of Ready Investor One, TJ and I all asked the attendees to share their #1 takeaway from Camp FI. Enjoy! Doc G – “Knowing that you have a group of people to support you at a hard time in life, who come to the world with the same worldview is really magical” “Content creators tend to shout at the world, but there a lot of people out there who are whispering and if you listen closely you can learn a lot.” Contact him at Diversefi.com! James Lowery – “You don't need as much… it seems like it takes a long time to see any progress, but then once you notice the progress it's already taken off at that point” Contact him at RethinkTheRatRace.com! Ruth Bresnahan – “Personal growth is the most important thing. If you're not experiencing personal growth, then your quality of life will go down no matter where you are in the journey” Justin Taylor – “Stop being so focused on this large nest egg number…giving me that confidence to step away and make it all work out” Contact him at Saving-Sherpa.com! Captain DIY – “Remove the idea of the nest egg number and take away the money aspect. Learn to enjoy the journey… The FI journey itself is such a growth experience” Contact him at DIY2FI.com! Doug Nordman – “I did not expect the level of interest in raising a money-smart kid… I've learned as a blogger that when you get the same questions over and over again you probably should write about it” Contact him at The-Military-Guide.com! Stephen Baughier – “I appreciate you guys coming this weekend, and all of the other people who are listening who have come to a Camp FI previously this year, I appreciate you for being a part of this and hopefully we'll have a successful 2019 and make more connections.” Contact him at CampFI.org! Join the Community We'd love to hear your comments and questions about this week's episode. Here are some of the best ways to stay in touch and get involved in the FIRE Below Zero community! Join our Facebook Group Sign up for our newsletter Leave us a voicemail Links from the Episode Camp FI ______ Project FI Unreal Mobile Ask Trim Truebill Sling TV Project FI Ready Investor One Money Nerds Forming The Life Diversefi Rethink The Rat Race Saving Sherpa Diy2fi The Military Guide Fly to FI (Cody's Blog) Half Life Theory (TJ's blog)
Your Money Over Coffee: The daily best in personal finance, investing, minimalism
What are the things in life that money can't buy and how should you consider them alongside FI?