It’s no secret that we live in a society obsessed with appearances. Doctors, in particular, often get tagged with the reputation of being big spenders. A sprawling mansion, a flashy car, country club memberships, and exotic vacations every few months, that’s the general image society has of us.
But here’s the kicker: not all doctors (or retirees) want to live like that – and they shouldn’t feel pressured to. If your version of a “rich” retirement is about feeling fulfilled, even if you’re spending less than you’re “supposed to,” that’s perfectly okay. It might just be the ticket to a happier, healthier retirement.
Shattering the Stereotype
The common perception floating around for decades is that if you’ve spent years in a high-paying profession like medicine, your retirement should look like something straight out of a Hollywood movie.
Lavish galas, designer everything, jet-setting to Bora Bora – you name it. Social media and pop culture have spearheaded the perpetuation of this stereotype, inundating us with polished, idealized versions of what success and leisure should look like.
It’s something we’ve all grown up with, seen in movies and TV shows all our lives. But here’s the thing, just because it’s been ingrained in us doesn’t mean it’s true. Not everyone who’s put in decades of hard work wants to burn through their hard-earned savings in the name of “keeping up appearances.”
For one, a lot of medical professionals are exhausted by the time they hang up their white coats. Years of long hours, emotional labor, and missed family moments can leave one craving peace and simplicity more than anything money can buy. When we wrote about the right time to retire, many physicians reported working well into their seventies.
Sure, a yacht might look cool in photos, but does it add to your happiness if it’s just another thing you have to maintain? That’s not to say doctors shouldn’t enjoy their money, but the assumption that they’re all living extravagantly isn’t fair – or even accurate.
Spending = Happiness is a Myth
Let’s get one thing straight: spending money can bring joy, but it’s not the same as true happiness. Think back to the last time you splurged on something. Maybe it was a fancy dinner at a Michelin-starred restaurant or a high-end gadget you’d been eyeing for months.
Sure, it felt great in the moment, but how long did the feeling last? A week? A month? Eventually, the novelty wears off, and you’re back to square one, looking for the next hit.
Now compare that to a day spent fishing with your kids or grandkids or a quiet morning reading on your porch with a cup of coffee. Those moments don’t come with a price tag, yet they stick with you. They’re the kind of experiences you reflect on when you’re lying in bed at night or flipping through old photo albums.
The Power of Simple Pleasures
There’s something undeniably wholesome about finding joy in the little things in life. It’s easy to overlook them when we’re caught up in the rat race, but retirement offers the perfect chance to rediscover those simple pleasures. And the best part? They don’t cost a dime.
A walk in the park. Feeling the crunch of leaves under your shoes in the fall or the warmth of the sun on your skin in summer as you stroll through the park.
Plant a garden and watch it bloom over the seasons. Tending and caring for something and then getting to witness it flourish will fill you with pure joy and fulfillment.
Host a potluck dinner with friends where the laughs are free-flowing, and the food is made with love. You’ve got the time now to make up for the canceled plans and missed celebrations, so make the most of it.
These moments might not make it onto Instagram, but they’re what life’s all about.
And let’s not forget all the hobbies you’ve had to put on hold or always wanted to pick up but never had the time. Dust off that old guitar sitting in the attic, or join that book club you’ve heard so much about.
Rekindle the old flames of passion you had to snuff out due to time constraints. Photography, refurbishing old furniture, painting, writing, whatever it may be. These hobbies won’t just fill your time; they’ll feed your soul.
Why Less Can Be More
Spending less doesn’t mean you’re depriving yourself. It means you’re choosing to prioritize what truly matters to you. When you stop focusing on “stuff,” you make room for experiences and connections.
You also give yourself the gift of peace of mind. After all, financial stress is one of the biggest happiness killers out there.
Doctors, in particular, know how unpredictable life can be. We have seen firsthand how quickly someone’s circumstances can change. That’s why living within your means – and maybe even below them – can be a smart move.
It’s not about hoarding money; it’s about using it wisely so you can enjoy life without worrying about running out of resources.
The Emotional Freedom of Spending Less
There’s an emotional freedom that comes with embracing a simpler lifestyle. When you’re not caught up in the endless cycle of buying and upgrading, you can focus on what really makes you happy.
You stop comparing yourself to others and start appreciating what you already have.
And let’s be honest, a lot of pressure to spend comes from external sources, not inner desires. Advertisers are experts at convincing us that we need the latest gadget or the most luxurious vacation to feel fulfilled. Social media is an equally guilty accomplice. Scrolling through your feed may stir feelings of FOMO because everyone looks like they’re living it up.
But the secret is, that that is not the whole picture. Your cousin Terry just got back from a trip alone to the Swiss Alps, but is he really going to cherish that time more than spending an evening at home bonding with his family?
Redefining What “Rich” Means
What comes to mind when you hear “rich”? For many, it’s a bank balance with lots of digits, expensive possessions, and an opulent lifestyle. But richness is about more than money.
It’s about having strong relationships, good health, and a sense of purpose. It’s about waking up in the morning and feeling excited about the day ahead. A rich life doesn’t have to be a flashy one. It can be as simple as being there for your loved ones, exploring new interests, and making memories that will last a lifetime. That right there is a legacy.
Spending Less Doesn’t Mean Missing Out
One of the biggest misconceptions about frugality is that it’s synonymous with sacrifice. But spending less doesn’t mean you can’t enjoy life. It just means being intentional about where your money goes.
Instead of dining out every week, you might cook at home and invite friends over; instead of buying a brand-new car, you could opt for a reliable used one and use what’s left for a fun road trip. Instead of staying at a luxury resort, you could rent a cozy cabin to be able to spend your days hiking and nights stargazing.
That brings me to vacations. Yes, that expensive European trip might be memorable, sure. But a cheaper trip to a scenic spot nearby with all the friends who could make it could be downright unforgettable.
Why? Because it’s not the place that makes the memories – it’s the people you’re with. Imagine roasting marshmallows by a campfire, swapping stories, and laughing until your sides hurt. Those are the moments that stick with you long after the glow of the Eiffel Tower fades from memory.
These choices don’t feel like a compromise when you realize they’re aligned with what truly makes you happy. In fact, they might make your experiences even more meaningful because they’re rooted in authenticity rather than extravagance.
How to Overcome the Guilt of Uuderspending
If you’re someone who’s worked hard and saved diligently, you might feel guilty about not spending more in retirement. Recently, there’s been an uptick in a movement that urges retirees to spend all their savings before Death comes knocking.
After all, isn’t that what you’ve been saving for anyway? But here’s the thing, your money is there to support the life you want, not the life others think you should have.
It’s perfectly okay to spend less if that’s what feels right to you. You don’t owe an explanation to anyone. The important thing is to use your resources in a way that aligns with your values and brings you joy. So be it if that means spending less and focusing on the intangibles.
The Bottom Line
At the day of the day, how you go about your retirement is a personal decision but one that should be made not to impress others or live up to societal expectations. Retirement is about enjoying the fruits of your labor in a way that fulfills you.
And if that means spending less, embracing simplicity, and finding happiness in the little things, there’s absolutely nothing wrong with that.
So go ahead, trade in the designer labels for comfy sneakers, skip the fancy restaurants for a backyard barbecue, and choose memories over experiences and possessions. Because when it comes to retirement, the richest life is the one that makes you happiest – no matter what it looks like to anyone else.