Over the last several years I have been researching how to prepare for retirement. The recurrent theme I gained from my research was the importance of planning early and giving oneself  “a runway of 3-5 years.” That meant for me transitioning from a private practice, and I started to do it methodically.

Fritz Gilbert, who has published over 400 articles on retirement, said in an interview with Mike Fallat, “Many of us anticipate retirement with both eagerness and trepidation, but it also holds myriad challenges and opportunities.”¹

While financial concerns often take center stage, Gilbert emphasized that most retirees grapple with non-financial issues post-retirement. “It’s not just about money; it’s about finding purpose, maintaining social connections, and nurturing one’s mental and physical well-being.”²

This reality hit me when a personal family situation occurred that made me realize I didn’t have a 3-5-year runway. So I went into hyper mode, paid for consultants, and had several analyses. I had originally practiced in a large group. Since 2003, I had worked mostly as a solo practitioner. The most important aspect of this transition was twofold. First, I need to stay connected to my family. Second, I wish to remain connected professionals whom I already knew, respected, and admired.

I merged my practice with a seven-member multispecialty group practice, most of which are former resident trainees or colleagues at LLU. This new arrangement allowed shedding the administrative burden of a solo private practitioner and instead work as much as I like or need to. This has allowed me to focus on and stay connected to my family.

The most important takeaway for me was Gilbert’s emphasis on the importance of preparation in the pre-retirement phase. He highlights the need to cultivate interests, hobbies, connections, and relationships well before leaving one’s job.³

I anticipate that retirement will not be a destination but the next exciting chapter in my life.

I hope retirement gives me more time to spend with family and friends, continue to mentor students and residents, go on international medical trips, work on many unfinished projects, cultivate my current interest in history and politics, and develop new interests.

So as the old adage goes, you can’t take it with you but we can pay it forward and in retirement still make a meaningful impact. So let’s move into retirement and connect. 

Endnote

1. Gilbert, Fritz. Keys to a Succesful Retirement: Staying Happy, Active, and Productive in Your Retired Years. Callisto, 2020.
2. Gilbert, Fritz. Keys
3. Gilbert, Fritz. Keys