Coast FIRE Calculator for Doctors
Doctors earn a median salary of $220k/year in the United States. With a 25% savings rate - achievable for most doctors who are intentional about their spending - that's approximately $4,583/month ($55k/year) going toward Coast FIRE.
Why This Matters
Despite high incomes, many physicians struggle with Coast FIRE due to late career starts, significant student debt, and lifestyle inflation. Those who succeed typically lived like residents longer than their peers expected, paid off debt aggressively, and avoided the "doctor lifestyle" of country clubs and luxury cars. The good news: physician income makes Coast FIRE achievable in 5-7 years of focused effort, even starting at 30-35 with debt.
Key Considerations for Your Situation
A $200k+ income provides perhaps the fastest path to Coast FIRE - you could potentially reach it in 3-5 years of aggressive saving. The challenge is almost entirely psychological: avoiding the lifestyle inflation that high earners often fall into and recognizing that you don't need to spend like your peers.
Consider this math: saving $100k/year for 5 years (very achievable at $250k+ income) gives you $500k invested. At 7% returns, that grows to $1.5M in 15 years without adding another dollar. You could be Coast FIRE before your high-earning peers even think about retirement.
Work with a fee-only fiduciary financial advisor (not one who earns commissions on products). At your income level, the tax optimization strategies alone - backdoor Roths, tax-loss harvesting, asset location, charitable giving strategies - can save you tens of thousands per year.
Be intentional about why you're earning this much. High incomes often come from demanding careers. Once you reach Coast FIRE, you can choose to downshift to less demanding work, take more risks in your career, or continue building wealth toward fat FIRE. Having options is the point.
Physician-Specific Financial Planning
Late career start (typically 28-32 after residency) means aggressive savings during your first 5-7 attending years is critical. Many physicians who reach Coast FIRE did so by "living like a resident" until their late 30s.
457(b) plans at hospitals are hugely valuable but risky - funds are technically hospital assets until you withdraw. Consider this when choosing between job offers.
Malpractice insurance ($15-50k/year depending on specialty) and licensing costs are ongoing expenses that must be factored into your Coast FIRE annual spending.
Medical license maintenance requires ongoing CME, fees, and often malpractice tail coverage if you stop practicing. Budget $5-10k/year even in "retirement."
Healthcare Planning for Early Retirement
ACA marketplace plans become affordable below ~400% FPL ($62,400 single, $129,280 family of 4 in 2025). "MAGI engineering" - controlling your adjusted gross income - can secure subsidies worth $10,000+/year.
The ACA subsidy cliff at ~225% FPL is critical: staying below ~$35,000 AGI (single) can reduce premiums to under $200/month. Roth conversions and capital gains timing affect your MAGI.
COBRA bridges the gap if you leave employer coverage but only lasts 18 months and costs full premium plus 2% admin. Budget $1,500-2,500/month for family coverage.
Healthcare Sharing Ministries (HSMs) offer lower monthly costs but aren't insurance - they can deny claims and have lifestyle requirements. Use only as a last resort.
Healthcare costs vary significantly by state, age, and family size. Factor in premium subsidies, deductibles, and out-of-pocket maximums when planning your Coast FIRE budget.
The Psychology of Coast FIRE
"One More Year" syndrome is real: the temptation to keep working "just one more year" can trap you indefinitely. Set a specific Coast FIRE date and honor it.
Identity beyond work is essential. Many Coast FIRE achievers struggle when they define themselves by their job title. Cultivate interests, relationships, and purpose outside of work before transitioning.
The "permission to spend" mindset shift is difficult. After years of aggressive saving, many Coast FIRE people feel guilty spending money. Remember: the point was freedom, not deprivation.
"Die With Zero" perspective: you can't take it with you. Coast FIRE should enable experiences now, not just security later. Balance future safety with present fulfillment.
How Coast FIRE Works
Compound Growth
Your investments grow exponentially over time. Einstein called compound interest the 8th wonder of the world.
The Coast Strategy
Once you hit your Coast number, you never need to save for retirement again. Work for passion, not survival.
Freedom Date
Discover when you can switch to part-time work or pursue your dreams without financial anxiety.
Frequently Asked Questions
When can doctors reach Coast FIRE?
With a $220k salary and 25% savings rate, doctors can typically reach Coast FIRE in 4-8 years starting from zero, assuming they target $1M FI number at retirement. Your exact timeline depends on your age (which affects how long your investments can compound), your actual spending (which determines your FI number), and your actual savings rate. Use our calculator with your specific numbers for a personalized projection.
What's a good savings rate for doctors?
We recommend 25% or higher for doctors, which translates to about $4,583/month on a median salary. At this income level, maxing out your 401k ($23,000/year) is definitely achievable, with room for IRA and taxable investing. Each 1% increase in savings rate adds roughly $183/month to your investments.
Do doctors have special retirement options?
High-income doctors should consider backdoor Roth IRAs (contributing to Traditional IRA then converting to Roth), mega backdoor Roth strategies if your 401k allows it, and tax-efficient investing in taxable accounts. At this income level, tax optimization can save you tens of thousands per year.
How does a doctor salary compare for Coast FIRE?
Doctors earn a median of $220k/year in the US. This is among the highest for any profession, potentially enabling Coast FIRE in under 5 years. The challenge is often psychological - avoiding the lifestyle inflation that comes with high income. The fastest paths to Coast FIRE often come from this income bracket.
Your Next Steps
Create a debt payoff vs investing strategy that works for your specific loans.
Model your "attending" lifestyle carefully - many physicians overspend here.
Consider whether a lower-paying specialty might actually speed your Coast FIRE by starting earlier.
Account for higher malpractice insurance and licensing costs in your spending.
Related Tools & Resources
Ready to Calculate Your Coast FIRE Number?
Use our free calculator above to see exactly when you could stop saving and let compound interest carry you to retirement.
Use Calculator NowSources
- [1]Retirement Savings: Choosing a Withdrawal Rate That Is Sustainable(1998)
- [2]Determining Withdrawal Rates Using Historical Data(1994)
- [3]Historical Returns on Stocks, Bonds and Bills
- [4]Bureau of Labor Statistics Occupational Outlook
- [5]Safe Withdrawal Rate Series
- [6]Healthcare.gov Marketplace
- [7]TSP.gov - Thrift Savings Plan
- [8]IRS Publication 571