Physician Burnout: How Financial Stress Makes It Worse—and What to Do About It

It’s no secret that burnout is a major issue in medicine

Long days, too much paperwork, and the emotional toll of patient care—it’s no wonder burnout is so common. But there’s one contributor that often flies under the radar: money.

In a recent episode of the Finance for Physicians podcast, I spoke with Dr. Bill Yount—an emergency physician and host of the Catching Up to FI podcast—about his personal financial journey. Like many physicians, he hit common financial pitfalls early in his career, struggling with direction and feeling unprepared when it came to basic financial literacy. It wasn’t until after turning 50 that Bill and his wife made intentional changes that shifted everything—taking him from feeling like he’d never be able to retire to seeing true financial independence within reach, on his own terms.

We covered a lot of ground in our conversation, but one thing became especially clear: when your finances are out of alignment, burnout isn’t far behind.

And one thing became clear: when your finances are out of alignment, burnout tends to follow.

Let’s unpack why—and what you can do to break the cycle.

The Lasting Impact of Your Early Career Money Choices

It often starts out as a well-earned reward after making it through the slog of training. You finish residency, and that big income finally kicks in—time to enjoy life a little. The house gets upgraded, the car gets nicer, the vacations get longer… and maybe there are daycare bills or private school tuition in the mix, too.

Saving feels like something you’ll “get to” once things settle down. But over time, it gets harder to track where the money is actually going. Before you know it, work starts to feel like the only way to keep everything afloat.

You’re earning more than ever, but feeling less free. And that’s when burnout starts to creep in. 

Bill’s Wake-Up Call

For Bill, the wake-up moment came around age 50—when he realized he had a high income but very little to show for it in terms of savings or progress toward his goals. Retirement felt out of reach. There was no clear path. And worst of all, burnout was setting in hard.

He described it this way:

There’s a point where you realize no one’s going to take care of you except you. And if you’re not on a path that gives you options… you’re stuck.

That feeling—being stuck in medicine not because you want to keep practicing, but because you have to—is one of the most powerful contributors to physician burnout.

What to Do If You’re Feeling Financially Stuck

Burnout and financial stress feed off each other. When you feel stuck—emotionally, professionally, and financially—it’s easy to keep spinning your wheels. But there’s a way out.

That’s what Bill and his wife discovered. Their turning point wasn’t earning more or working harder—it was getting clear on where their money was going and creating a plan that aligned with their values and long-term goals.

If you’re in the same boat, here’s how you can start untangling finances from burnout:

1. Align your finances with your values

One of the best ways to prevent burnout is to make sure your financial decisions reflect what actually matters to you. When your money supports your personal values—not someone else’s expectations—you’ll feel more motivated, more grounded, and more in control.

2. Track your net worth

Your net worth is a simple way to measure your overall financial health. It’s everything you own (like savings, retirement accounts, home equity) minus everything you owe (like student loans, mortgage, or credit cards). You don’t need anything fancy to get started—a spreadsheet or pen and paper works just fine. The goal isn’t to judge the number—it’s to understand it. Once you know where you stand, you can start making progress.

3. Figure out your savings rate

Not just what’s going into your 401(k), but your total savings. Bill and his wife went from saving 8% to over 35%—simply by being intentional and tracking their cash flow.

4. Simplify your lifestyle

Downsizing doesn’t mean deprivation. For many physicians, scaling back actually brings a sense of relief. Bill described it as finally having “a controlled pace to life.”

5. Shift your mindset from rich to wealthy

Wealth isn’t about what you spend—it’s about the freedom to make choices that align with your values. That includes the ability to slow down or step back from work without financial fear.

It Isn't Too Late to Get Back on Track 

Whether you’re just starting out or already deep into your career, it’s not too late to take control of your finances—and your future.

Just look at Bill. He didn’t get serious about his financial life until he turned 50. At that point, he and his wife were feeling behind, unsure of how they’d ever catch up. But they started small—tracking their spending, building structure around saving, and aligning their money with what actually mattered to them. And in just a few years, they made massive progress.

They didn’t need a windfall or a perfect plan—they just needed a willingness to change and a clear sense of purpose.

To hear more about Bill’s journey—including how he found purpose beyond burnout, and discovered the financial independence movement—check out the full conversation on the Finance for Physicians podcast.

Additional Resources: 

Finance for Physicians podcast:  Late Start, Bill Lessons - Bill Yount's Advice to Physicians with Daniel Wrenne, CFP®

Wrenne Financial Planning is a registered investment adviser. The content of this blog post is intended for informational purposes only and is not intended to be investment advice. The views expressed in blog post are subject to change based on market and other conditions. Some information has been obtained/provided from third party sources and is believed to be reliable, but its accuracy is not guaranteed. There is no representation or warranty as to the current accuracy, reliability or completeness of, nor liability for, decisions based on such information, and it should not be relied on as such.