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Afford Anything

Your Last Thoughts Won't Be About Money, with Dr. Jordan Grumet

Afford Anything

Paula Pant | Cumulus Podcast Network

Entrepreneurship, Business, Investing

4.63.4K Ratings

🗓️ 10 January 2025

⏱️ 80 minutes

🧾️ Download transcript

Summary

#572: At age 7, Dr. Jordan Grumet lost his father. This early loss shaped his career path — he became a physician, following in his dad's footsteps. But by 2010, feeling burned out from internal medicine, he took an unexpected turn: he became a hospice doctor. In this episode, Dr. Grumet joins us to discuss what he's learned from thousands of conversations with people in their final days.  These discussions have revealed a pattern: people don't typically regret their bank balance on their deathbed. Instead, they regret not pursuing the activities and dreams that truly lit them up. Dr. Grumet explains the difference between what he calls "Big P Purpose" versus "little p purpose." Big P Purpose involves major life goals like becoming president or curing cancer. Little p purpose, by contrast, focuses on the process — finding activities you enjoy regardless of the outcome.  He shares the story of a young professional who loved competitive cycling. While working a demanding nonprofit job, this person started fixing bikes at races on weekends. This side project combined his skills and passion, eventually creating enough income for him to reduce his full-time hours. Dr. Grumet introduces three key concepts for building more purpose into your life: - Joy of Addition: Add activities that excite you, even if just for 15 minutes daily - Art of Subtraction: Remove activities that drain you - Substitution: When you can't add or subtract, swap one activity for another He emphasizes that money isn't the only tool for creating change. Youth, energy, relationships, skills and community can be equally valuable resources. A 22-year-old might lack funds but has the advantage of time and stamina that a 51-year-old doesn't possess. Dr. Grumet references the Harvard Adult Developmental Health Study, which found that strong relationships — not achievements or money — most strongly correlate with happiness. He suggests that pursuing activities you enjoy naturally leads to building these vital connections. The episode closes with a powerful story about his grandfather, who loved math and became an accountant in the 1950s.  This passion influenced Dr. Grumet's mother to become a CPA, which in turn helped young Jordan develop confidence in math, despite his reading challenges. Years later, this mathematical thinking helped him diagnose a rabbi's rare condition — proving how small actions can create ripple effects across generations. Timestamps: Note: Timestamps will vary on individual listening devices based on dynamic advertising run times. The provided timestamps are approximate and may be several minutes off due to changing ad lengths. 0:00 Introduction to Dr. Grumet, hospice doctor discussing end-of-life insights 1:06 Transition from medicine to hospice as side hustle 2:21 Hospice shifts from medical to emotional care 4:12 Palliative care vs hospice care explained 5:05 Age range of hospice patients 6:55 Life priorities and deathbed regrets 13:46 Harvard Adult Developmental Health Study on happiness 20:00 Purpose, happiness and flow states 26:35 Joy of Addition and Art of Subtraction explained 33:30 Using youth when lacking money 41:18 Calendar evaluation strategies 48:45 Managing family disappointment 56:08 Regrets as purpose anchors 1:03:26 Common end-of-life regrets 1:09:06 Small actions, big legacy For more information, visit the show notes at https://affordanything.com/episode572 Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0

Our most valuable asset and our most valuable resource is time, and the ultimate limitation to time is the amount of time that we spend here on this planet.

0:09.7

Today, we speak to Dr. Jordan Grummet, a hospice doctor, which means that he treats patients who are at the end of their life.

0:17.2

And in doing so, has deep conversations around reflections, regrets, and purpose.

0:26.0

Welcome to the Afford Anything podcast, the show that understands you can afford anything,

0:29.9

but not everything. Every choice carries a trade-off. And that applies not just to your money,

0:35.0

but to your time, which we're going to talk about today,

0:38.0

and your energy and your focus, your attention, to all of the resources you need to manage.

0:43.6

So, what matters most and how do you make choices accordingly?

0:47.4

Those are the two questions this podcast exists to answer.

0:51.3

My name is Paula Pant.

0:52.5

I'm your host.

0:53.5

Welcome, Dr. Grummit. Time, regrets, and purpose. Three of my

0:57.2

favorite things to talk about. All right. Well, I hope you won't regret joining us for this conversation.

1:04.2

How long have you been a hospice doctor? So I started doing hospice work in about 2010. So I finished

1:09.8

residency in 2002 and I did general

1:12.1

internal medicine and I was treating patients in the hospital and I took care of a lot of elderly

1:17.1

people. And one day I was treating a patient and one of the hospice nurses came by and she said,

1:21.3

you know, you're really kind of good at this. You do end of life care. Why did you come work for us?

1:25.1

And it was at the time I was getting really burned out in medicine. So it was like a medical side hustle. I'm like, I can work with hospice and I can get

1:32.3

a stipend every month to do this, but it wasn't related to my practice. So that was one of my first forays

1:37.2

into side hustles. Oh, wow. It's not something I would typically think of as a side hustle. Yeah, doctors, we have lots of them. So you can be

1:45.3

medical directors of all sorts of things, which you get paid for. You can do medical expert work.

...

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