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Letting Go of Financial Fear

Transitioning to part-time medicine has been a scary thought. I shared some of the reasons in previous posts. Now that I have finally taken the plunge it’s not as bad as it first seemed. 

In the past 3 years I focused on decreasing my expenses, paying off my debt, not accumulating new debt, and saving towards my financial independence.

Growing Net Worth

I have been able to accumulate a net worth of just under $600k. My goal moving forward is to maintain this capital, avoid risking it and ideally make it grow through wise investing.

The past 3 years I’ve worked a lot on myself. Financially, I’ve tried to make myself less dependent on income so that I can do more with the money that comes my way.

Intellectually, I have tried to read more books and consume more digital audio in order to learn different perspectives on my viewpoints. It’s easy to go through life thinking what we know is the truth since we tend to surround ourselves with those sharing in our opinions.

Emotionally, I have become less selfish and am learning how valuable my interactions with family, friends and random human beings are. I’m building up some relationships which I’ve ignored in the past and forming new ones.

I was involved in some medical volunteer work which I have since given up. I never donated much to any particular cause except for $50 here or $100 there. I am no longer in that financial fearful position where I want to hold onto everything I have, I feel a little less timid.

 

Financial Fear

Dr. Mo living a Mo-centric life has been beneficial yet selfish. I feel like I am now an improved person who is ready to do a bit more for those around me rather than just accumulate more money, watch more Netflix, get tighter abs to impress others.

Over the next few months I will come up with an amount that I want to spend, an amount I would like to save for myself and more importantly, an amount of time and money that I would like to set aside for less selfish reasons.

I want to be careful to not become even tighter with money now that I will be making less. I’m fortunate to be debt-free and have a small overhead, this is a great position from which I can do some good.

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