59 y/o physician retiring the end of this year—happy to join this community

[RetMD21]

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Originally Posted by NW-Bound When I needed to see them next, I learned that both had retired and sold their practice! I would like to think that my story influenced their decision.

Great story although you are contributing to the shortage of physicians

[NW-Bound]

Quote:

Originally Posted by RetMD21 Great story although you are contributing to the shortage of physicians

Two old men still working in their 70s? One did not appear to be in good health.

With more ACA plans now opened in my area, I found a plan that my long-time doctor was on, and have been going back to him.

In last year's annual visit, we chatted and he asked me about my travels. He said his wife had been very interested in doing RV'ing in Alaska. I asked him how much time he could get off his practice, as one could spend a whole summer doing that trek. He said he could manage to be off for 2 weeks. And I told him that it would be doable if he flew to Anchorage or Fairbanks and rented an RV there.

This doctor is young and may be around 50, and he took over the practice from an older doctor I saw, but who retired. I don't think he can quit anytime soon. It's good, because I do not like to change doctor. He will outlive me.

[RetireeRobert]

Quote:

Originally Posted by NW-Bound T This doctor is young and may be around 50, and he took over the practice from an older doctor I saw, but who retired. I don't think he can quit anytime soon. It's good, because I do not like to change doctor. He will outlive me.

When my second to last doctor started greying and I started wondering how long he would be around, I decided to start my own search for a young doctor. I found one and switched, fairly confident he would be in practice long enough to see me through my elder years. I had also tried that philosophy with my dentist. Unfortunately, I misjudged his age as he just retired and sold his practice. Not sure I like the replacement who is maybe "too" young, so may need to start the search for a new dentist.

[Retch The Grate]

Welcome to the forum, looks like your numbers are incredibly solid for a pretty fantastic retirement.

[DangerDad]

Thanks for the kind words.

Several folks have commented about finding another doctor after theirs retires.

I guess we're all replaceable. And yet it's those connections that matter most.

I always feel honored when patients (and their families) place their trust in me.

Whenever I decide to call it quits..that's one of the things I'll miss the most.

DD

[swakyaby]

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Originally Posted by DangerDad There are two reasons I’m considering working part time following “retirement”. The first one I mentioned earlier: my attachment to the job, my patients and the great folks I work with. This attachment also includes issues of identity and sense of purpose. The other reason is financial. Despite the numbers which indicate FIRE-readiness, I really like the idea of putting off the distribution phase a bit longer and continuing to add to my 401(K), Keogh and IRA accounts. I fear this will sound greedy but really it’s more about being conservative and cautious. Maybe some of you understand..?

The first part I totally understand. It took a lot of effort and commitment and years to reach the professional level you are in now. There’s a great deal of satisfaction in the work you do. And you’re probably at the highest level of compensation you’ve ever received for work that you find mostly satisfying.

But the financial part is really about facing the unknown. Padding the investment accounts will likely not do much more than increase your children’s inheritance. Your pension that pays most of your living expenses should serve to provide ample sense of security, even if it is not cola’d. For me, the time demands of medicine and the weeknight calls and the weekend calls left me often yearning for more free time to do the activities I always wanted to do. Trying to squeeze it in during vacation time wasn’t enough. I wanted a better, if more serene, quality of life, on a daily basis. Even though I didn’t have a pension, at some point I realized I had saved more than enough.

[DangerDad]

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Originally Posted by swakyaby The first part I totally understand. It took a lot of effort and commitment and years to reach the professional level you are in now. There’s a great deal of satisfaction in the work you do. And you’re probably at the highest level of compensation you’ve ever received for work that you find mostly satisfying. But the financial part is really about facing the unknown. Padding the investment accounts will likely not do much more than increase your children’s inheritance. Your pension that pays most of your living expenses should serve to provide ample sense of security, even if it is not cola’d. For me, the time demands of medicine and the weeknight calls and the weekend calls left me often yearning for more free time to do the activities I always wanted to do. Trying to squeeze it in during vacation time wasn’t enough. I wanted a better, if more serene, quality of life, on a daily basis. Even though I didn’t have a pension, at some point I realized I had saved more than enough.

That’s actually very insightful—yes, fear of the unknown. It’s unsettling. However I think that a bit of part time work (let’s say one year..?) will actually help to demystify what lies ahead..I think it will lessen that trepidation. We shall see.

Thank you so much...

DD

[dirtbiker]

Welcome, from a doctor 20 years behind you. I'm also hoping to retire at 59, but have a long way to go, and a lot of saving to do. What is your specialty?

[P.S.]

Hello DD,
Welcome to the forum. If you can transition to very PT -> I work 1-2d/wk no call, and found it allows me to have enough time to putter and just sit doing nothing, while also giving an outlet to challenge my brain. Also found that pushing the workload to as low as it could go resulted in me really appreciating the time I spent in house. Kind of like that feeling when you first start on the wards as an MS3. Good luck on the transition! At 59, you’ve earned and deserve the time to just mountain bike and enjoy life.