138. “My wife doesn’t want me to take a $720k job offer”
Jan 9, 2024
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Mel and Babu, both 33-year-old doctors, face a career decision. They discuss the impact of income on their goals, decision-making in relationships, and their financial goal of reaching 10 million dollars. They reflect on past investment decisions, the impact of a job offer on their relationship, and living in modest circumstances. They debate lifestyle creep, savings anxiety, and the need to achieve goals while prioritizing happiness.
Mel and Babu struggle with making unstructured decisions and seek guidance on how to navigate career choices.
They prioritize financial security despite having ambitious financial goals, causing them anxiety.
Mel and Babu realize the importance of finding happiness in experiences and relationships, and commit to cutting out unnecessary expenses.
Deep dives
Career decision and financial change
Mel and Babu are both doctors making a significant career decision that will change their financial lives. Babu is about to finish his training and expects a higher income, causing anxiety for Mel as she feels she could never match his earning potential.
Structured thinking and decision paralysis
Mel and Babu excel in structured thinking and planning, but struggle when faced with unstructured decisions, such as where to work. They feel paralyzed and seek guidance on how to navigate these situations.
Goals and aspirations for a rich life
Mel and Babu have set financial goals, hoping to retire with $10 million. They envision a rich life that includes the ability to travel, live where they want, and work for enjoyment rather than financial necessity. However, anxiety and the fear of unforeseen events cause them to prioritize financial security.
Considering finances and financial independence
Mel and Babu discuss their financial situation, including their current income, savings, investments, and debt, as well as their future goals. They contemplate the impact of potential job changes on their finances, considering the earning potential and benefits associated with different positions. They also discuss their desire to pay off their student loans and retire early, and how they plan to live beneath their means in order to achieve these goals.
Prioritizing experiences and relationships over financial concerns
Mel and Babu reflect on the importance of enjoying life and prioritizing experiences and relationships over financial worries. They dream about enjoying their favorite restaurants, traveling with their parents, and creating a rich life together. They come to the realization that it's not just about the numbers, but about finding happiness and fulfillment in the present moment. They commit to cutting out unnecessary expenses and focusing on what truly matters to them.
Mel and Babu are both 33 year-old doctors. Babu’s nearly done with his training, putting a huge decision in front of them about where to live and how much he’ll earn. The income numbers are staggering, but how they both feel about money isn’t affected by the number in their bank account.
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