Redefining Rich: How to Truly Thrive Financially with Doc G | Ep. 322

Money Talk With Tiff

In this fascinating episode of "Money Talk With Tiff," host Tiffany Grant chats with special guest Jordan "Doc G" Grumet from the Earn & Invest podcast. They delve into profound discussions about life, death, and finding financial independence beyond the dollar amount.

Doc G shares insights from his journey from medicine to content creation and discusses key concepts from his book, "Taking Stock."

About Our Guest

Jordan Grumet was born in 1973 in Evanston, Illinois. After graduating from the University of Michigan, he received his medical degree from Northwestern University and began practicing internal medicine in Northbrook, Illinois. He is currently an associate medical director at Journeycare Hospice.

After years of blogging about financial independence and wellness, Jordan launched the Earn & Invest podcast in 2018. In 2019 he received the Plutus Award for Best New Personal Finance Podcast and was nominated in 2020 for Best Personal Finance Podcast of the year.

Connect with Doc G

Website: https://jordangrumet.com/

Twitter (X): @earnaninvest

Facebook Group: https://www.facebook.com/groups/earnandinvest

Connect with Tiffany

Website: https://www.moneytalkwitht.com

Facebook: Money Talk With Tiff

Twitter: @moneytalkwitht

Instagram: @moneytalkwitht

LinkedIn: Tiffany Grant

YouTube: Money Talk With Tiff

Pinterest: @moneytalkwitht

TikTok: @moneytalkwitht

Timestamps

[00:00] Offering positivity and comfort in the face of death.

[05:20] New approach to financial independence and work.

[08:51] Self-actualization, purpose, and identity in life.

[12:24] Fear of losing money outweighs goal achievement.

[14:58] Financial independence doesn't guarantee happiness, wealth concerns.

[17:34] Podcast, purchase links, upcoming book on purpose.

Key Points Discussed

• Transition from Medicine to Content Creation: Doc G explains his shift from practicing medicine to embracing his passions as a content creator and writer, focusing on the satisfying work in hospice care, which he continues part-time.
• Perspectives on Hospice Care: The conversation sheds light on the positive impact of hospice care, providing comfort and dignity in the final stages of life—a perspective that enlightened Tiffany while reading Doc G’s book.
• Philosophy on Regrets and Life Review: They explore the importance of addressing regrets and conducting life reviews, not only for the dying but as a practice we should adopt early in life to live without regrets.
• Financial Independence, Retire Early (FIRE): Doc G discusses the evolution of the FIRE movement from stringent saving to a more nuanced approach incorporating passive income and side hustles, emphasizing that financial independence should involve enjoying the journey, not just the destination.
• Maslow’s Hierarchy of Needs Revisited: The conversation critiques the traditional view of Maslow's pyramid, suggesting a more integrated approach to achieving self-actualization alongside financial and emotional fulfillment.
• The True Role of Money in Happiness: They debate the commonly held belief that happiness increases with income, discussing how real contentment comes from purposeful living rather than financial accumulation.
• Overcoming Fear of Financial Loss (Loss Aversion): Doc G provides insights into how fear of losing financial status can lead to unhappiness and restrict living a fulfilled life, regardless of one’s wealth.
• Purpose and Identity Beyond Money: The episode ends with a preview of Doc G’s upcoming book, "The Purpose Code," which tackles finding one's true calling and living purposefully.

Recommended Actions

• Consider conducting a ‘life review,’ regardless of age, to align daily actions with long-term goals.
• Rethink financial goals as tools rather than endpoints to truly live while you climb.
• Embrace a balanced approach to finance, allowing for enjoyment and responsibility simultaneously.

Resources Mentioned

• Book: Taking Stock by Jordan Grummet
• What Documents Do I Need for Estate Planning? | Ep. 212

This podcast uses the following third-party services for analysis:
Chartable - https://chartable.com/privacy