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The Finish Line is in sight
Old 03-16-2012, 07:50 AM   #1
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The Finish Line is in sight

Hi Everybody,

I am 56 and after a couple of years of reading this board and learning from the experiences of others I officially turned in my retirement papers this week! Last official day will be June 12 but winding down with vacation, etc. after May 4. It has been an interesting transition over the last 2 years to get to this point and I hope to post more details on the psychological and emotional impact even talking about it has had on my wife and me.

I always planned to retire around 55 and saved accordingly from early in my career. My wife was on board so we saved 25 to 30% of everything I made for the first 10 years or so. 3 kids and 12 years into it I was debt free and ready for a career change and took at job closer to my family at a University, being a teaching Physician. As our kids grew up we had a lot of lifestyle creep with extra cars, ski vacations, and expensive colleges. Fortunately, the power of compounding actually worked so we are in good shape to live off around a 3% SWR with employer subsidized health insurance.

I told a few key people at work yesterday, so I figure by today everyone will know. I've been talking to my Department Administrator about this for awhile and she keeps asking me to work 1/2 time (NO) or at least a day a week. I told her I want a complete break from Clinical Medicine but then she said I could just be a consultant with a very flexible schedule on a few long term administrative projects. I might do that for a couple of months to help her out and ease my wife into having me around more.

It is good to be joining the class of 2012 and I appreciate any advice or comments as I go through this exciting time.

Jackson
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Old 03-16-2012, 07:55 AM   #2
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Hi Jackson D. Welcome to the forum and congratulations on your upcoming retirement!
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Old 03-16-2012, 08:07 AM   #3
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But...but... Rich_in_Tampa taught us doctors never retire - or at least not without years of anguish and severe bouts of "just one more year" syndrome.
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Old 03-16-2012, 08:19 AM   #4
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Quote:
Originally Posted by Jackson D View Post
It has been an interesting transition over the last 2 years to get to this point and I hope to post more details on the psychological and emotional impact even talking about it has had on my wife and me.
Congratulations! And, welcome to the forum. I know you've been lurking but it's nice to see you're posting.

Regarding the "psychological and emotional impact" - I hope it's been positive.

DW and I retired last year. Several of my former co-workers also opted to take early retirement when MegaCorp offered a financial incentive to leave. Of the several people I frequently worked with approximately 1/2 have already taken other jobs. That was not their plan initially so I think they overlooked the fact that it's important to retire TO something not FROM something. Of course, there are aspects of to and from in everyone's retirement decision but the TO component should not be overlooked.

Best Wishes.
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Old 03-16-2012, 08:19 AM   #5
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Quote:
Originally Posted by Jackson D View Post

I told a few key people at work yesterday, so I figure by today everyone will know. I've been talking to my Department Administrator about this for awhile and she keeps asking me to work 1/2 time (NO) or at least a day a week. I told her I want a complete break from Clinical Medicine but then she said I could just be a consultant with a very flexible schedule on a few long term administrative projects. I might do that for a couple of months to help her out and ease my wife into having me around more.

It is good to be joining the class of 2012 and I appreciate any advice or comments as I go through this exciting time.

Jackson
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But...but... Rich_in_Tampa taught us doctors never retire - or at least not without years of anguish and severe bouts of "just one more year" syndrome.
If they provide occasional diagnostic help to our increasingly frequent questions on "what do I have", does that count?

Jackson D, it's been 12 years for us and my wife still isn't used to having me around...
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Old 03-16-2012, 08:35 AM   #6
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REWahoo you are right about anguish and "one more year" syndrome. I was all set to go in 2010 on my 55th birthday and was even counting down the days 65, 64, 63 but then we hired another Doctor to help me and my work life got so much better that I just negotiated to go 75% and try that for awhile. After months of knowing how many days left, I actually lost count and was much happier. That worked well for awhile but Medicine sucks you back in and after a period of time, some of my colleague friends started making fun of me for my getting paid 75% while working 110% lifestyle. I transitioned to a bit more administrative duties and started a couple of long-term projects that have now basically wrapped up. I began targeting a good time to quit and now find myself back on the countdown. I try to learn from my mistakes and hopefully won't be sucked back in by agreeing to consult a little bit.

Jackson
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Old 03-16-2012, 08:42 AM   #7
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Is there something specific you have been looking forward to once you have the time? For some individuals "One more year" may mean "I'm not sure what to do next".
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Old 03-16-2012, 08:45 AM   #8
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Quote:
Originally Posted by Jackson D View Post
I was all set to go in 2010 on my 55th birthday and was even counting down the days 65, 64, 63 but then...
Nothing more frustrating than having your goalpost moved - especially when you do the moving!

Sounds like you may have gained valuable knowledge as a result of your self-inflicted delay. I hope your de-cloaking on the forum is an indication this time you mean it - really.
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Old 03-16-2012, 09:38 AM   #9
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No going back now, Ive got too much to do. Schedule for the next few months includes:
1. 2 week Mediterranean cruise
2. Princeton graduation for kid #3
3. Triathlon in June
4. Train for Triathlon club nationals (I've gone four times and never had time to train like I wanted)
5. Lower my golf handicap
6. Plan trips to Florida and California to visit my other kids. Tour Napa and Yosemite in the process

I have a multi page list with so many things to do I am exhausted just thinking about it. I would go take a nap but I have to go to work for a little while.

Jackson
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Old 03-16-2012, 11:09 AM   #10
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Quote:
Originally Posted by Jackson D View Post
It has been an interesting transition over the last 2 years to get to this point and I hope to post more details on the psychological and emotional impact even talking about it has had on my wife and me.
Welcome aboard and congrats. The sentence above resonated with me (and others I'm sure). We had the same sensation in the last few years leading up to retirement, it was an interesting change in POV, and continues to evolve. Wouldn't want it any other way...
Quote:
1. 2 week Mediterranean cruise
2. Princeton graduation for kid #3
3. Triathlon in June
4. Train for Triathlon club nationals (I've gone four times and never had time to train like I wanted)
5. Lower my golf handicap
6. Plan trips to Florida and California to visit my other kids. Tour Napa and Yosemite in the process

I have a multi page list with so many things to do I am exhausted just thinking about it.
You sure aren't going to have to worry about what to do...that's a good thing IMO!
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Old 03-17-2012, 03:24 AM   #11
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Welcome and congrats.
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Old 03-17-2012, 04:48 AM   #12
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Welcome to the group. Sounds like it's time to enjoy life.
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Old 03-17-2012, 05:33 AM   #13
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Welcome to the forum Jackson!

Always inspiring to see another one go...well done.

Reading posts on this forum have actually caused me to slightly speed up my goal of FIREing. I appreciate that from many of you.
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Old 03-17-2012, 02:39 PM   #14
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Welcome to the forum, Jackson, and congrats!! Your upcoming schedule is enviable, IMO. Item #5 has been on my list for years, but it seems unobtainable.
My son-in-law just got "matched" for his residency, so I get to observe his journey in the medical profession first-hand.
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