Why the FIRE Movement Fails Physicians (And What to Do Instead)

The Money Meets Medicine podcast explores the downsides of the FIRE (Financial Independence, Retire Early) movement, particularly for high-income professionals like physicians. While FIRE promotes financial responsibility, it can lead to a loss of purpose and identity upon reaching early retirement, causing unhappiness. The hosts argue that FIRE's extreme frugality can strain relationships and create a scarcity mindset, hindering enjoyment of life. They advocate for "financial independence work optional" or "coast-fi," emphasizing that money should be a tool for creating a fulfilling career and life, not just an escape. The hosts stress the importance of aligning financial goals with personal values and addressing the psychological aspects of money management.