There is a growing movement among physicians and other professions to become Financially Independence, Retire Early. It is called the FIRE movement. There are many ways to do it such as aggressively saving money, working several jobs or “side hustles,” and making shrewd investments. Personally, the idea is very appealing, as a pain management physician career can get pretty stressful at times and a relaxing retirement sounds pretty good. In my modest attempt to achieve FIRE I’ve taken on a few side gigs and have saved as much as I can while also reading about smart investment decisions and diversifying portfolios.
One night I was reading a blog about FIRE. It said that the goal of FIRE is not to sit around and play Super Mario Bros. with your kids. It struck me as a bit, well… on point, since I enjoy playing Super Mario Bros., especially with my two sons and I had actually thought that would be a nice way to spend the day if I were financially able to do so instead of work. But the article explained that FIRE really means freedom… to a certain extent. The author elaborated that if you are able to FIRE, you should be looking into your next project, “free” to do so since you have no further financial burdens weighing you down. From the author’s point of view, it is really the responsibility of someone who has achieved FIRE to continue to build something new to employ others and serve the community somehow.
All of which sounds great. It is a noble undertaking - to achieve such significant financial success you no longer need to work but can continue to work on improving your community by providing a needed service and employing others. It also certainly fits with the entrepreneurial mindset of moving on to the next project or idea. Such a commitment to continuously pursuing a new business venture or nonprofit organization is certainly a worthy goal and should be commended. As such, this is the point of FIRE – elimination of financial sandbags that weigh you down so you can really pursue what you want and help the most people.
But what if that is not what you want? What if you think something else is the point of FIRE? What if you really want to “retire” early and relax, play Super Mario Bros. with whoever you wish, play golf all day, or do whatever you want? Is that okay? Is it wrong to actually want to take it a bit easier and slow down?
I think it depends on your goals. If you are burnt out, like 42% of physicians according to the Mayo Clinic, then I think taking a break from medicine or your career may not only be okay but imperative, with or without financial independence. If playing Super Mario Bros. helps with your mental health, then that should be the priority. We are increasingly becoming aware of the importance of mental health, not only in ordinary people but also in elite athletes, with the example of Simone Biles at the Olympics a case in point. One thing the pandemic taught us is that health should be a priority, and that includes mental health.
So if you do achieve FIRE, maybe taking a break for a few months, a few years, or for good is not such a bad idea. On the other hand, maybe pursuing the next business venture is better for some people’s mental health. And that is fine too. Freedom is a good thing, and FIRE does provide for this if you are motivated to do so. If not, you can still find freedom in other ways, your own ways, and maybe save Princess Peach along the way.
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