He has amassed a fortune, but a simple glass of wine with dinner still makes his heart race.
Mark told “The Ramsey Show” that even though he makes about $390,000 a year as a doctor in Honolulu, he gets anxious if his family spends just a few dollars more. “I’m worth $7.3 million,” he said, but small purchases still make him uneasy.
“Man, we could have saved that extra $3,” he said of his reaction when his kids asked for an extra drink at dinner. Mark asked the host John Deloney and Jed Warshaw Whether he has the ability to work part-time.
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“You chose not to,” Deloney said, interrupting Mark after he said he “couldn’t” approve the additional spending.
Mark said he grew up watching his parents move from a one-bedroom apartment into a more stable life through rigorous savings. As a child, he said, money made him feel uncertain.
“Mark, give yourself some grace,” Deloney said. “Your nervous system is wired this way.” Growing up in an environment of financial instability may affect how a person responds to money later in life, he said.
Mark said he owns about $2 million worth of rental properties, all of which are paid off, and generates about $8,000 in net income each month.
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“I don’t see any money issues here, which is indicative of where the money issues are,” Warshaw said after reviewing his income and assets.
He paid off his medical school loans in his first year of training, had been practicing medicine for 20 years, and was “so dissatisfied” with money that it seeped into his marriage.
As a doctor who is solving problems and facing uncertainty every day, Deloney said, Mark may be clinging to the one thing he can control: his money. Warshaw said the numbers didn’t indicate financial problems and told him he just needed to “loosen his wallet.”
“Go part-time, man,” Deloney said after Mark explained that he wanted to cut back on his hours to spend more time at home.
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Mark said reducing his schedule to three days a week would reduce his annual income from about $390,000 to $220,000. He said living in Hawaii meant high state taxes, which made him even more hesitant.