“Life is a succession of lessons which must be lived to be understood.” – Ralph Waldo Emerson
As the curtain falls on 2024, I find myself in the final act of my professional journey, with retirement less than 300 days away. The imminence of my 50th birthday in 2025 has prompted a reflection on the significant lessons that 2024 has imparted.
My Mother’s Sickness
When I embarked on my private practice 12 years ago, I was filled with an idealistic vision of the person I would become. I envisioned a future where financial success would translate into more quality time with my loved ones. Regrettably, those days of abundant family time never materialized, even with the unexpected disruption of the Covid pandemic in 2020. The relentless demands of my work schedule, with its never-ending deadlines, consumed my life to the point where nothing else remained. The pandemic offered a brief respite, but the moment 2023 arrived, I was back in the familiar whirlwind of work, operating 24/7 until a recent minor surgery forced a break in April 2024.
I remembered I was back to work after resting 1 day in hospital. It was during this time my mother’s health took a turn for the worse. The fragility of life became starkly apparent, and I was abruptly confronted with the realization that my relentless pursuit of work had come at a steep personal cost. Doctors tend to put patient as their top priority until neglecting their own and immediate family well-beings. As I look back, my mum has aged significantly compared to last time I really had a good look at her years ago.
The realization of my mother’s mortality came with the harsh blow of her illness. It was a stark reminder that our parents age, become frail, and ultimately leave us. I regretted the countless hours spent working at the hospital, neglecting the people I cherished most. The memory of her tender hand holding mine remains vivid, a stark contrast to her now wrinkled and aged appearance. I deeply regret not spending more time with her while I had the chance.
Medicolegal Cases on the Rise
The increasing number of medicolegal cases and the negative portrayal of doctors in the media have prompted me to contemplate retirement. The landscape of healthcare has undergone a drastic transformation in recent years. The traditional patient-doctor relationship, once founded on trust and mutual respect, has been eroded and replaced by a transactional model.
In the past, doctors were viewed as altruistic figures, dedicated to providing the best possible care to their patients. Patients, in turn, placed their trust in their doctors’ expertise and judgment. This simple, harmonious relationship has given way to a more adversarial dynamic, fueled in part by the rising cost of private healthcare. Doctors are now often seen as profit-driven, and patients are quick to blame them for any perceived shortcomings in care.
This shift in the doctor-patient relationship has been accompanied by a rise in medicolegal litigation. Patients are more likely to sue their doctors for perceived malpractice, and doctors are increasingly practicing defensive medicine to protect themselves from lawsuits. This has led to a further deterioration in the quality of care, as doctors are more focused on avoiding liability than on providing optimal treatment.
The allocation of patient billing is heavily skewed towards hospitals, which receive around 90% of the total cost, while doctors receive less than 10%. This disparity is further exacerbated by the fact that doctors’ fees have remained stagnant for over a decade, despite the rising costs of healthcare overall.
This unfair distribution of costs and the lack of adjustment in doctors’ fees has led to a misdirected blame on doctors for the increasing healthcare expenses. This has created a hostile environment for doctors, who are being unfairly targeted for issues beyond their control. As a result, many doctors are choosing to leave the profession altogether instead of fighting against a system that is seemingly rigged against them. This “flight” response is a worrying trend that could have significant ramifications for the healthcare system as a whole.
The current climate of distrust and hostility towards doctors is taking a toll on the medical profession. Many doctors are feeling disillusioned and burnt out, and some are leaving the profession altogether.
It is clear that the healthcare system is in need of reform. I do not think anyone cares about what doctors think. Bank Negara and politicians are more interested in what the public and the payors ( especially the insurance companies) think. No matter how hard the doctors try, we will never win this battle.
During the COVID-19 pandemic, healthcare workers were widely lauded as heroes for their selfless dedication and tireless efforts on the frontlines, despite the significant personal risks involved. However, the current narrative has shifted dramatically, with healthcare professionals now being accused of greed and self-interest. This stark contrast in public perception is disconcerting, as it disregards the substantial sacrifices made by these individuals. This experience has shown me that organizations in this country always view us as easy and vulnerable targets.
How much time do I have?
The realization that my eldest son’s departure for tertiary education in the UK this September was quickly followed by my younger son’s decision to study in Singapore left me with a profound sense of introspection. It prompted me to contemplate the passage of time and the finite nature of life.
Given that the average life expectancy for Malaysian men is around 73 years, which equates to 26645 days, and considering that I have already lived 17885 days, I am acutely aware that I may only have approximately 8760 days remaining. If I continue to work for another 280 days before retirement, I will be left with roughly 8480 days, or about 12.2 million minutes. However, if I allocate a third of that time to sleep, the stark reality is that I may have less than 5653 days left to truly live.
Time is an irreplaceable resource, and I am increasingly conscious of how I have spent it. From the moment my eldest son was born until he left for university, I had less than 15 years with him. Factoring in my work schedule, sleep, on-call duties, and his schooling, I likely spent less than two hours per day with him, which amounts to approximately 10,950 hours or 456.25 days over those years.
Reflecting on my working life from 2001 to December 2024, I spent the first 10.5 years as a government servant, from May 2001 to December 2011. During that period, I worked an average of 65 hours per week, totaling 556 weeks and translating to roughly 1,506 days. From January 2, 2012, to December 30, 2024, as a private doctor, I worked approximately 75 hours per week for a total of 678 weeks, which amounts to 50,850 hours or 2,119 days. In total, I have dedicated approximately 3,625 days to my work.
Time is a precious and finite resource that we often take for granted. It’s easy to get caught up in the busyness of everyday life and forget that our time on earth is limited. Time is a gift, and we should never take it for granted. Let’s all make the most of the time we have left.
Patience and Consistency
On a lighter note, I am happy my consistency and patience have paid me a handsome reward. My Singaporean and Malaysian portfolio are still in the red for almost 5 years but my ETFs-related portfolio has been performing well.
Besides Singaporean bank stocks, Singapore REITs have been underperforming for the last few years. To mitigate my risks in the Singapore stock market, I decided to put some money into Singapore saving bonds as well.
I am going to hit my retirement number likely in 2025 and it will give me an option in life whether I want to continue to work as a doctor. No matter what direction the market go, I have been investing consistently and patiently in my USD-denominated ETFs for the last 5 years. I am maximizing up my EPF contribution to RM100k per year. By combining all my portfolio’s dividends, I am likely to get a handsome 6-figure dividend soon in 2025.
Success in investing requires a multifaceted approach, with patience and consistency being two critical components.
Patience is essential in navigating the inherent volatility of the markets. Fluctuations in stock prices, economic downturns, and unforeseen events can all impact investments. A patient investor understands that these fluctuations are part of the process and doesn’t make rash decisions based on short-term market movements. Instead, they maintain a long-term perspective and focus on their investment goals.
Consistency, on the other hand, ensures that an investor stays on track and doesn’t miss out on opportunities. Regularly investing, regardless of market conditions, allows for dollar-cost averaging, which can mitigate the impact of market volatility. Consistent contributions also help build a diversified portfolio over time, which can further reduce risk and enhance returns.
In addition, it’s important to be mindful of emotions and avoid making impulsive decisions based on fear or greed. Having a well-defined investment strategy and sticking to it can help maintain discipline and avoid costly mistakes.
Conclusion
In 2024, life has undoubtedly presented us with a tapestry of experiences, both joyful and challenging. It’s my sincere hope that amidst the highs and lows, we’ve all gleaned valuable insights and wisdom. The lessons we’ve learned may have been accompanied by pain, disappointment, or even heartbreak, but they possess the transformative power to shape us into better, stronger, and more resilient individuals as we step into 2025.
It’s crucial that we never surrender to despair or allow hopelessness to take root in our hearts. Life has a peculiar way of teaching us that our expectations can profoundly influence our happiness. By learning to temper our expectations, to find contentment in the present moment, and to appreciate the simple joys that life offers, we pave the way for a more fulfilling and joyful existence. Remember, the pursuit of happiness is not about acquiring more, but about desiring less.
