This week on the podcast, let’s talk about the value of time.
Time has value to us – both in personal and economic terms. It’s something we often fail to consider when making decisions about how long to work and when to retire. These decisions often focus only on the financial aspects of retirement planning. But as we get older, time becomes a more limited commodity – it’s just that we don’t know exactly how much of it we have left. And, deciding how to use the time available to us involves much more than your financial situation.
My guest on the program this week has had hundreds of conversations with people about what matters to them at the end of life – what they wish they had spent more time one, and what they wish they had worried about less.
Jordan Grumet has an unusual career profile. He’s a physician who specializes in hospice care. And, he is a personal finance blogger and host of the Earn & Invest podcast – and the author of a new book, Taking Stock: A Hospice Doctor’s Advice on Financial Independence, Building Wealth, and Living a Regret-Free Life.
In his medical practice, Jordan often talks with patients who may have only weeks or months to live. And the lesson he draws from these conversations is that most of us spend too much time thinking about money, and not about our purpose in living, our identity and personal connections. In his book, Jordan draws out the lessons from those conversations in a way that we can all start using now.
I think there are some really useful points here that can be especially helpful for people thinking through the issue of retirement timing – when to do it, how to manage it financially and how to do it in a way that is personally meaningful.
Click here to listen to my conversation with Jordan Grumet.