The Winds of Change
The Winds of Change
The winds of change are blowing. They are urging me forward and twisting me sideways. My life is pivoting. Not the great and sudden monumental shift, but a slow tectonic meandering. As my meaning and purpose evolve, my days are beginning to look different. This great migration of identity was certainly spurred on by my financial awakening, but it was not because of it. Personal finance gave me the power to take command of a career that was no longer fulfilling my inner needs. A career that was providing me cash flow, but not nourishing me.
Financial independence is giving me the freedom to loosen the bonds that bind me to servitude. In exchange, I can choose service. Service to my family and friends. Service to our community. And, of course, service to my own needs and dreams.
It All Started With a Little Blog Post
My first blog post on DiverseFI was the first gust of the winds of change. Most every major upheaval in my life has been preceded by an intense period of writing. I have said before that writing is my life hack. But it is so much more. While doctoring is the thing that I’m best at, writing is what brings color to my life. It spurs me to create and communicate. To connect.
Through months of blog posts, I have clarified not only my purpose but also the role finances play in bringing that purpose to reality. It is on the pages of this computer screen that I have honed and clarified my thoughts. Where I tripped over the money mind meld and realized that financial independence is truly Plan B. It is here that I mourn my eventual withdrawal from clinical medicine.
These thoughts. Turned into words. Made into actions.
Life Looks Different
My days look different now. The winds of change have even affected my schedule. In less than a month I have traveled to Minnesota, Little Rock, Atlanta, and Orlando in the next week. This is more travel (for business) than I have ever done in my life. As I run through airports, check into hotels, and wake up in new cities, I continually ask myself.
Is this me?
It is me. An engaged me with a new sense of excitement and adventure. A me who no longer dreads, but actually looks forward to Monday morning.
The fear is coming back. The good fear. That little anxiousness that comes along when you think that you just might be on the verge of something great.
Aspirations
My aspirations are also shifting with the winds of change. I am trying to learn how to be less concerned about how much money I make. I am working towards financial peace, not necessarily abundance. The abundance is already there.
I am aspiring to new projects. New possibilities. I continue to write everyday but maybe a podcast? Maybe another book?
I still enjoy getting up at the front of a room and telling my stories. Maybe there are more stories to tell. More speaking engagements and keynotes.
Final Thoughts
This blog is a written, day by day testimony of the growth I strive towards. What sometimes sounds like inner turmoil is the cogs shifting in my brain. It is both mourning the past, and leaping head over heels towards the future.
It is my daily lab full of experiments.
My maker space.
The place I hold myself accountable.
The winds of change have come and are challenging my center of gravity. I may stand still or be knocked over. There really is no way to tell.
But, as always, I am thankful that you have taken the ride with me.
That you continue to bear witness.
It’s been fun watching (reading?) your narrative change. I think that time is the ultimate commodity in life, and getting to the point where you get to spend that commodity how you want is the key.
Medicine will always be there if you want to dabble in it, but refusing to let it consume you can only be a good thing. As your passion projects intensify and provide satisfaction and fulfillment, other aspects of your life that grapple for your attention have to be let go.
Looking forward to seeing you on Wednesday!
TPP
I think you are exactly right. Medicine will always be there.
In the Navy we called this short timer’s syndrome. Take 2 aspirin and call me in the morning. If your head is facing forward there is something magical about obtaining freedom. If facing backward there is no magic but regret.
You have a story to tell, the story is: “what is enough?” Enough has almost nothing to do with accumulation, yet accumulation is the first thing bogelheads focus on. Accumulation is like a man with a hammer. Everything looks like a nail. Example 4% x 25 is good for about 25 years of retirement. That means if you retire at 65 you’re pretty much covered till 90 maybe 95 maybe longer if the SORR gods smile on you, but that of course gets distorted by the retire at 40 crowd. Enough is determined by budget, Enough is determined by longevity, enough is determined by markets and SORR, enough is determined by taxes, enough is determined by SS and the demise of healthcare, enough is determined by catastrophe, enough is determined by contingency, enough is determined by asset mix and account mix which determines tax consequence, enough is determined by residual W2 as in a second job or real estate, enough is determined by effective risk management, enough is determined by a credible plan for your spouse on your demise, enough is coming to terms with the fact your “day dreams” eventually have to be linked to a reality, and a dozen other things. That’s the definition of enough. Then and only then does accumulation enter the picture. I’m not saying to not accumulate early and accumulate diligently, but that part is the easy part. Beginning accumulation is just that, a beginning. It buys you time while you are figuring out what enough is. Accumulation is a simple almost brain dead system. Stuff money into vehicles that allow compounding. clap clap clap brilliant! It’s not brilliant it’s mechanical. Enough on the other hand takes decades to understand, with any granularity.
You want a second career? Teach people about enough. Learn about people who tried retiring without enough. The dotcom bust comes to mind. Learn about modes of failure. Learn about failure in the face of longevity. It may take 20 years for a mistake to compound into failure (think about that as a concept compounding failure) and by then you’re too old to fight the momentum of doom. This knowledge is what is missing in the 4% x 25 crowd, and this knowledge is what brings blind accumulation into balance. There is definitely room for the apostle of enough to preach the truth
Gasem,
There is a lot to chew on here. If I understand you correctly, I agree that the current group of FI fans and pursuers will learn much when challenges come their way in the future, especially after reaching their 25x and pulling the trigger. I believe that due to the overarching belief of self-direction and creating and building that most with the goal of FI have will be enough for most to overcome those future challenges. But you do bring up a good point about when “you’re too old to fight the momentum of doom.” Great point and while I am sure some will not be ready, I believe that most will, even once they hit their number, will continue to be concerned about their future and make continuous adjustments to minimize future downside risk. Thanks for a great post. Anchors Away.
Gasem always makes me think and question my assumptions!
David the problem is risk management planning is based on decisions often taken decades BEFORE the trigger is pulled. Sit down some time with a cup of coffee a tax calculator and the schwab RMD calculator and see what the government is going to do to your IRA income and tax bracket. Sit down some time and see what the government is going to do to your wife when you die and she looses your SS income and they kick her tax bracket up 2 levels. All of that is built into your future and if all you’ve been doing is “max out your tax deferred accounts into low cost index funds” bubba when you hit age 70 you be hosed. Once you RMD there is very little you can do to save yourself except perhaps lay in a supply of KY. If you were paying attention at age 50 there are maneuvers you can do that could protect you. Built into things like Roth conversion is the need to compound up some money to live on while you are converting and that takes about 20 years. Some become enamored with the idea that you can work 10 years and live off the interest for 50 years. Some become enamored with the idea that because some portfolio didn’t fail historically it won’t fail in the future. Past performance is no guarantee of future reality and so on and so on. You absolutely can not understand your “number” if you haven’t actually analyzed as much as possible what that number can and will be required to support.
Okay. You are sparking my thoughts for today’s (published tomorrow) blog post.
I am genuinely excited to observe your journey!
Thanks Man!
Definitely seems like an exciting new pivot for you. And if your past is any indication you are going to nail it. I like the creative aspects of blogging as well. It is amazing that something I can conjure from my mind can find an audience that has been quite receptive to it. Speaking engagements sound like a great opportunity with direct immediate feedback and chance to meet people in person.
Thanks for the vote of confidence. We will see how it goes.
Metamorphosis is always exciting Doc, I can hear it in your words!
My excitement is growing.