Taking Stock – A Breath of Fresh Air on the Path to Financial Independence

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Several months ago, Jordan Grumet asked me if I’d like to read an advance copy of his new book, Taking Stock: A Hospice Doctor’s Advice on Financial Independence, Building Wealth, and Living a Regret-Free Life.

I met Jordan at the personal finance conference FinCon a number of years ago. He was such a likable guy, interesting to talk to, and very insightful.

That could also be why he’s run a successful podcast for years now. It’s called the Earn & Invest podcast (formerly the What’s Up Next podcast) and I’ve actually been honored to be a guest on the show a few times:

• Is Passive Income a Reality?
• Exploring Geoarbitrage with Route to Retire and Our Rich Journey
• Mr. Money Mustache On COVID (and the Notorious Tweet) / Panama Update

So, yes, when Jordan asked me to read his new book, Taking Stock, of course, I was happy to do so.

But I’ve read a lot of personal finance books over the years – some good and some bad. Would this one be any different?

It really was. Taking Stock isn’t your typical book on going down the path to financial independence and there’s a big reason why… Jordan Grumet is actually Jordan Grumet, MD – as in doctor, or more specifically, a hospice doctor.

And as a hospice doctor, he’s seen a side of things that most of us will never experience. So if you’re expecting a personal finance book just chock full of the same old advice on reaching financial independence, you’re in for a treat.

Rather than push you to earn every penny you can scrounge up and cut expenses until you’re living with no frills in life, Jordan takes a different approach. In a nutshell, he wants you to find a balance between the present day and the future.

“While it is financially responsible to plan for the future and save for a long and healthy retirement, it shouldn’t be accomplished at the expense of the urgency of now.”

— Jordan Grumet, MD – Taking Stock

I wasn’t expecting this until I started reading it, but this was a pleasant surprise.

Not only does he help bring in the insight he’s gained from his years as a hospice doctor, but he’s honest and open about the good and bad he experienced on his own path to financial independence…

“But there is no prize for having more than enough. In fact, there are penalties. My voyage to wealth was sucking up my time, my energy, and often my goodwill. My children grew, my parents aged, my siblings built families around me. And I was busy—often too busy to spend time with any of them.”

— Jordan Grumet, MD – Taking Stock

Jordan’s been financially independent for years, he has a family, and he’s worked with patients in hospice in their last moments in life. In other words, he’s got a pretty good grasp on the different angles of saving for tomorrow and living each moment like it’s your last.

So what I truly appreciated is that he doesn’t try to put anyone in a pigeonhole… the old square peg in a round hole. Instead, he introduces you to three unique personalities through the concept of brothers and hopes you’ll find one that you can relate to. From there, he helps you figure out the financial path that makes the most sense for you.

I thought this quote really hits the nail on the head for most of us…

“We are either afraid that we will die too soon and never enjoy what we have labored to accomplish, or that we will die far off in the future and not have enough money to sustain our needs: we’ll die broke.”

— Jordan Grumet, MD – Taking Stock

I’m not sure about you, but this was a conflict that bounced back and forth in my head for years on the way to our own financial independence – it’s still something that haunts me periodically. For whatever reason, this was almost reassuring just to read this observation in print.

Taking Stock is broken into three sections:

• PART ONE: What Financial Independence Experts Get Wrong About Life – And Death 1
• PART TWO: Many Paths to Financial Independence
• PART THREE: The One Thing the Dying Wish They Had More of – Time

If you’re looking for a new personal finance book to read that’s not the same takes as several other books, this one’s worth a read.

You can check out Jordan’s new book here:

Taking Stock: A Hospice Doctor’s Advice on Financial Independence, Building Wealth, and Living a Regret-Free Life

I hope you find this book as interesting as I did!

You can also find a list of some of my other favorite book recommendations on my Recommendations page.

Plan well, take action, and live your best life!

Thanks for reading!!

— Jim