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Episode 3581:
Dr. James Dahle explores the tradeoff between earning more and reclaiming your time, explaining how marginal utility, taxes, and fixed expenses influence the value of working additional hours. He highlights how financial obligations, lifestyle goals, and changing priorities throughout life shape the point where more income stops adding meaningful happiness and more free time becomes the greater reward.
Read along with the original article(s) here: https://www.physicianonfire.com/diminishing-returns-work/
Quotes to ponder:
“Both time and money are limited and fungible (exchangeable), and it is up to you spend them as will do the most good and bring you the most happiness.”
“Once your house and student loans are paid for, you may find working 3 weekends a month isn’t exactly what you want to do for the rest of your career.”
“Lots of docs assume there is a point at which it isn’t worth working because Uncle Sam gets everything extra you make. That is very rarely true.”
Episode references:
The White Coat Investor: https://www.whitecoatinvestor.com/
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