I see through people

[amagqira]

Jokes aside, I'm a radiologist in canada, came here as an immigrant 8 years ago and hit the floor running ( with DW in tow ) and have worked like a dog since then and have accumulated and transferred saved money from our home country to Canada and have approx: $2.4mil in stocks and bonds in a CCPC (canadian private corporation) and approximately $0.6mil in a taxable account - this will be our sole means of suppport since we cannot expect much in the way of SS - not that I expected my adoptive country to provide for me in my old age. I am 62 yrs old and have decided to retire at the end of 2013 - I cannot remember when I last enjoyed my work, I work 10 -12 hour days and although the income is obscene, I'm tired and would like some time to enjoy life. I reckon that I can accumulate another $0.7mil and sell our home (we have another property) and end up with just over $4mil in total - too much but 2008 scared the daylights out of me and I would rather have too much than too little.
My biggest problem is that I have had no life outside of my work for the past 8 years and I must admit that the adjustment at retirement worries me at times, even though I consider myself to be pragmatic and able to adjust to new challenges. We will also have to decide where to live - the only firm decision I have made is that I will flee the winter each year - it seems silly spending 5 months of the year wishing the time would go by when you are 60+yrs.

Any how greeting to all, and I'm sure I will learn as I go along.

 

[chris2008]

Welcome! You will find lots of good info here.
I share your worries to some extent. We will retire in 2012 and some planning is necessary IMO.
I also liked the book "Get a life: you don't need a million to retire well" by Ralph Warner. It focusses on the non-financial aspects of retirement planning.
Some here say that when the "fog of work" is lifted by retirement the adjustment gets easy.
I hope for it, but I am a planner. So I am collecting ideas in a list and discuss with DH.

 

[travelover]

Welcome, I think you'll find like minded people here. Also be sure to look at the FAQ and search features.

 

[Coach]

amagqira, welcome to the forum!

You have such a nice nest egg built up at this point. I wonder is there is something between working way too much and being completely retired that you could aim for. Any chance for part-time employment, or some other way to ease into retirement without spending another three years doing a job that is so demanding of your time?

Or suppose you decided to retire soon -- in a few years, if worse came to worse, would it be easy for you to get a job? If so, you could retire and go back to work if necessary. Work from age 65 to 68 only if you have to, rather than work from age 62 to 65 just in case.

Again, welcome aboard!

Coach

 

[photoguy]

I have several close friends who are doctors and the impression I got from them was that radiology was one of the "good lifestyle" specialities. So I guess either I misheard them or their specialities are even worse!

Agree with Coach. You have a nice nest egg and I think that working part time employment might reduce your stress if you can swing it. For myself, I would love to go part time but I don't think I can find a job in my field that allows for it.

 

[Rich_by_the_Bay]

I cannot remember when I last enjoyed my work, I work 10 -12 hour days and although the income is obscene, I'm tired and would like some time to enjoy life. ...My biggest problem is that I have had no life outside of my work for the past 8 years and I must admit that the adjustment at retirement worries me at times, even though I consider myself to be pragmatic and able to adjust to new challenges.

Welcome aboard. I'm recently semi-retired from a very busy medical career. I don't think I ever got to the degree of angst you are experiencing at work, but I do share your desire for some balance, as well as the "profession as self" issues.

For me, transitioning to part-time work (around 25-30%) with a delightfully small clinical practice seems to work well. You might consider that to ease the way.

Congratulations on accumulating an ample portfolio. At least that won't be a concern if prudently managed.

If you don't qualify for Canadian health coverage, what are your options? Can you buy in? Are private policies available and affordable? Could you get caught without health insurance after retirement?

 

[militaryman]

Recommend Walking

Sounds like you have plenty of $$ --

Do you have your health?

That would be something to focus on as you complete your working career.

Walking, I have found, is a great way to get in great shape slowly over a period of months. Losing the excess weight and developing dormant muscle. Another benefit is that walking allows you the time to think more about what you may want to do with your future retirement years.

I started walking in conjunction with a diet of eating no junk, and keeping my daily calories to around 1350/day and have dropped from 222 to 198 in under 60 days.

Not saying your outta shape of course but if you have the $$ then the only other more important thing is to have your health. Having your health will open widely the door to other activities to accomplish in retirement.

 

[FreeAt30]

Welcome! You will find lots of good info here. I

share your worries to some extent. We will retire in 2012 and some planning is necessary IMO.
I also liked the book "Get a life: you don't need a million to retire well" by Ralph Warner. It focusses on the non-financial aspects of retirement planning.
Some here say that when the "fog of work" is lifted by retirement the adjustment gets easy.
I hope for it, but I am a planner. So I am collecting ideas in a list and discuss with DH.

Both you and the OP might want to read "How to Retire Happy, Wild, and Free" by Ernie J. Zelinski. The title may sound a little bit silly, but it focuses completely on the non-financial aspects of retirement. It addresses a host of topics including how the dynamic may change with ones spouse.

I have to credit the book since it may have saved my marriage more than once by identifying the traps that my DW were starting to fall into when we both started seeing a lot more of each other in retirement. It also had great takes on issues like the one you mentioned about not having too much of a life outside work and worrying about the transition.

RE: OP's travel plans. I'm in Canada too. For the past 2 winters my DW and I have left the cold in the winter just as you are planning to do. South America 2 years ago and tropical beach in Asia just this past winter. It was really nice. It takes a bit of planning and getting used to if you are going somewhere you can't speak the native language, but it was definitely worth it for us.

 

[Sue J]

I also liked the book "Get a life: you don't need a million to retire well" by Ralph Warner. It focusses on the non-financial aspects of retirement planning.
Some here say that when the "fog of work" is lifted by retirement the adjustment gets easy.
I hope for it, but I am a planner. So I am collecting ideas in a list and discuss with DH.

Thanks for the book suggestion. My library had it available as an ebook download.