390: Net Worth Of $10M - Finding Purpose & Meaning

Millionaires Unveiled

Jace Mattinson

Investing, Millionaire, Financialplanning, Business, Self-improvement, Education, Finance

4.8 • 872 Ratings

🗓️ 30 December 2024

⏱️ 26 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

In this episode, Doc G shares insights on his journey post-retirement, discussing his evolving mindset towards spending, the transition from accumulating wealth to decumulating it, and the emotional challenges of withdrawing from his portfolio. He has a net worth of $10 million. His diversification hasn't changed much since he first appeared on the show in the early days when his net worth was just over half of what it is today. He shares how he has started withdrawing from his portfolio and the emotional impact that has had on him. He also delves into his writing journey, particularly focusing on his new book, 'The Purpose Code', which explores the concept of purpose in life and finances. Throughout the conversation, he reflects on the importance of finding fulfillment beyond just financial success and how this shift has influenced his relationship with his children.

Takeaways

*Doc G is busier than ever post-retirement, focusing on passion projects.
*He is learning to let go of his fear of spending money.
*The transition from accumulation to decumulation is a significant shift.
*Withdrawing from his portfolio has been an emotional journey.
*Writing has become a central part of his life and purpose.
*His new book, 'The Purpose Code', explores the concept of purpose.
*He believes that purpose can be both a source of anxiety and fulfillment.
*Doc G emphasizes the importance of using various tools for a fulfilling life, not just money.
*He aims to model a life of purpose for his children.
*The conversation about money has evolved into a deeper discussion about fulfillment.

Transcript

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0:00.0	When I didn't have enough money and was working really hard to get money, I always felt
0:06.2	stress about money.
0:07.1	Like, you can't wait till I get there and I hope I get there and it'll feel so great
0:10.4	when I get there.
0:11.5	And then once I got there, it was like, oh, but what if I lose it?
0:14.8	What if the market goes down?
0:16.1	What if I spend so much or too much?
0:18.7	What if I'm frivolous? And so what I realized is mindset-wise, the money
0:22.5	hasn't made me happy one way or another. So why not just spend it and not worry about it, as
0:28.1	opposed to sitting there and stressing about it? And so what I've really tried to do is not worry
0:32.8	too much about saving and not worry too much about spending. Welcome millionaires and future millionaires. You're
0:38.6	listening to the Millionaires Unveiled Podcast. The show where you'll hear the stories and interviews
0:43.4	of everyday millionaires will unveil their decisions, their strategies, and their portfolio
0:48.7	allocations. Now to your host, Jace Matinson.
0:57.0	Welcome back to another episode of Millers and Vell podcast.
0:59.1	This is episode number 390.
1:03.2	This is the podcast where everyday millioners spill with the beans on their stacks of green.
1:08.2	I'm your host, Jace Matanson, ready to bring you the unscripted tales of wealth warts and all because who needs a script when you're rolling in the dough?
1:10.9	Join us to be diving in the net worse and asset allocations of regular folks turn financial
1:15.0	titans. It's like cribs, but fewer gold-plated toilets and more practical advice.
1:20.1	We promise there are only rare edits to be kid-friendly, so you won't hear any naughty linguids,
1:25.3	just lots of chiching and maybe a sprinkle of do Ramee.
	...

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