The Emotional Aspects of FI | DiverseFI




Fire Drill show

Summary: Plan A is life. Financial independence in plan B. Do you agree with this statement?<br> <br> 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.<br> <br> You'll love his story.<br> <br> We also chat about...<br> <br> The emotional aspect of FI<br> How he reached FI and discovered the community<br> His blogging journey<br> The amazing influence of the community<br> Why he loves what he's currently working on<br> <br> Enjoy this chat with Doc G, and please subscribe to us in iTunes if you enjoyed it!<br>  <br> Show notes and links from today's episode<br> <br> Doc G's blog: DiverseFI<br> Doc G on Facebook and Twitter<br> Episode: White Coat Investor<br> <br> Key takeaways from our chat with Doc G<br> 1 - FI is a huge part of our identity<br> 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.<br> <br> 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'.<br> 2 - Life is Plan A, FI is Plan B<br> 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'.<br> <br> 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.<br> 3 - The FI community is life changing<br> 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.<br> Questions? Like or dislike? Leave us a comment!<br> Want to support the podcast? Here are three things you can do.<br> 1. Start tracking your net worth with Personal Capital using our link. It's free.<br> 2. Subscribe to our YouTube Channel and get one extra LIVE episode from us per week.<br> 3. Join our Facebook group and connect with other members of the FI community.