Hi - I'm 55 years old, could retire financially, just can't do it

[mointx]

Francis, can you semi-retire, perhaps? Maybe just work prn? I am a pharmacist, too, but about 12 years younger. This is something I am already contemplating, hopefully in the next few years. Pharmacy has definitely changed in the past 20 years since I started.


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[EastWest Gal]

Quote:

Originally Posted by Francis Thanks for your perspective. Pharmacy has changed a lot. About 10 years ago I worked with an oldtimer who owned his own pharmacy. He said he could earn a decent living filling 50 prescriptions a day. Today many pharmacists I know who work for chains fill 600+ prescriptions per day.

Just like us in medicine, the bean counters that now run the show want us to do more and more with less and less. I just did a continuing education course on patient safety about the pitfalls of distractions, as they can cause errors. I'm sure the same thing applies to you. It's scary to think our patients count on us to make no errors but we no longer have time to double check our work to prevent errors.

[longranger]

EastWest Gal as you doubtlessly know what you describe is typical in the medical industry with emphasis on the word industry. As an MD in a medium size my particular multi hospital megacorp the latest invented wrinkle that galls me is an invented concept of "perfect care". LOL. We actually have a perfect care committee, arbitrary parameters to establish scores to identify outliers etc... Of course a majority of the input is from bean counters and consultants hired by the bean counters. It is truly amusing in a way because both for financial and quality parameters we have huge talent in the system that would give much better input than the consultants, actually care and take personal responsibility for outcomes.

Francis I am in a similar situation to you. I could FIRE at any time, not at the WR you can but with enough cushion that money is no longer the primary issue. The only thing that keeps me in the game is a series of projects I am involved in that just may improve the work environment for my younger colleagues and improve patient care. Hate to admit it but would also be good for the megacorp bottom line.

If you have the opportunity to keep working in a position that empowers you to improve the working environment for you, your patients and you colleagues I can understand sticking it out for a while. Otherwise whats the point? If your job is a hopeless, heartless deadend as described in your earlier posts it is inconceivable that you could not find more happiness in a secure retirement doing whatever you discover makes you happy.

[Francis]

Quote:

Originally Posted by mointx Francis, can you semi-retire, perhaps? Maybe just work prn? I am a pharmacist, too, but about 12 years younger. This is something I am already contemplating, hopefully in the next few years. Pharmacy has definitely changed in the past 20 years since I started. Sent from my iPad using Early Retirement Forum

Good Thought. Present employer may or may not allow this. Technically we are allowed to drop as low as 32 hours/week and still are considered full time (for benefits) But I've known pharmacists who tried to reduce their hours and management said, "sorry but there are no pharmacist positions posted for 32 hours/week".

[Francis]

Quote:

Originally Posted by longranger Francis I am in a similar situation to you. I could FIRE at any time, not at the WR you can but with enough cushion that money is no longer the primary issue. The only thing that keeps me in the game is a series of projects I am involved in that just may improve the work environment for my younger colleagues and improve patient care. Hate to admit it but would also be good for the megacorp bottom line.

Yeah, there's no projects I can be involved with to improve working conditions. Nor will there ever be. All projects involve improving profits. I may have a lower WR than you but mainly that's because I have low expenses. Could easily live on 25-30K/year.

[jim584672]

Francis,

I have been emancipated from Megacorp for about a month.

As far as boredom goes, this is an issue that anyone who stops working will have to address. Delaying retirement just kicks the can down the road.

But...
My worst day after retirement is still better than my best day at work.

[RAE]

Quote:

Originally Posted by Francis I work in hospital pharmacy. It was a decent, even great job for years. A while ago a for profit hospital chain bought the hospital and things slowly but consistantly changed for years till it's at an intolerable level. The final blow, within the last year, was to make our schedule so outlandish in the hope that people quit. We have hired new pharmacists specifically to work odd hours - evenings and all nights. That was fine. Now, they are releasing all these new hires from their shifts and making us long term employees work the bad hours. Oh, let me add that they can hire the new pharmacists for about 25K less than the long term workers. So, it's like they want us out. Maybe that's why I can't make the break - because I don't want them to force me out.

I worked in a completely different field than you do, but I can relate to this, at least to some extent. I was being gradually pushed out of my job the last couple years I worked also (we had a change of management, whose top priority was to reorganize our agency, which involved cutting quite a few positions). My position was targeted for elimination, which at first made me angry. My initial reaction was similar to yours - wanting to hang in there, so as not to give them the satisfaction of forcing me out, or forcing me to change jobs. But then it dawned on me that that attitude was not constructive. I had planned to retire very soon anyway (even before the change of management), so trying to hang in there longer, when things were deteriorating rapidly, made no sense in my case. I retired as soon as I could after that, and have absolutely no regrets (after nearly 5 years now). I regularly talk to several former co-workers who are still working there, and they are all very unhappy with the new management. So, that just reinforces my decision to depart when I did.

[pbcoastal]

Francis - I retired two months before my 60th birthday in 2010 and haven't looked back. If I stayed at the job any longer I might have ended up with a nervous breakdown. Over the last four years volunteering has been fruitful and exciting.

You might want to check out this very interesting program offered by the Osher Institute at the University of North Carolina at Asheville called "Paths to a Creative Retirement." Here's the link - http://olliasheville.com/paths-creative-retirement
Topics are as follows:

When should I retire?
How will I spend my time after I stop or reduce my work?
How will I find purpose and meaning after I retire?
How will my identity change in retirement?
How will retirement affect my relationships with family and friends?
How do I investigate work and volunteer opportunities?

Another great resource is a recent book by Chris Farrell entitled: "Unretirement: How Baby Boomers are Changing the Way We Think About Work, Community, and the Good Life."

There are tons of resources available to assist you in your decision-making process. Good Luck!



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[Francis]

Quote:

Originally Posted by RAE I worked in a completely different field than you do, but I can relate to this, at least to some extent. I was being gradually pushed out of my job the last couple years I worked also (we had a change of management, whose top priority was to reorganize our agency, which involved cutting quite a few positions). My position was targeted for elimination, which at first made me angry. My initial reaction was similar to yours - wanting to hang in there, so as not to give them the satisfaction of forcing me out, or forcing me to change jobs. But then it dawned on me that that attitude was not constructive. I had planned to retire very soon anyway (even before the change of management), so trying to hang in there longer, when things were deteriorating rapidly, made no sense in my case. I retired as soon as I could after that, and have absolutely no regrets (after nearly 5 years now). I regularly talk to several former co-workers who are still working there, and they are all very unhappy with the new management. So, that just reinforces my decision to depart when I did.

Thanks for sharing your experiences. There are similarities between our situations. You know, I think when all is said and done, I'd be much better and much happier away from my workplace. I think of all the people who left recently and none are trying to get back. I worked for the same place for my whole career of 30 years. I've been thinking a lot about this and I'm toying with packing it in for good in early July 2015.

[EastWest Gal]

It sounds like you're on solid ground and will be good to go. Why not RE? You have some great retirement hobbies listed on your profile. I look forward to more of your posts.