I have reached my financial target (at age 50), and I am planning to cut back ASAP, and leave the medical practice for certain within two years. I do not want to retire, but instead, transition into a career, job, or business that gives me more control of my time and wears me down less physically and emotionally. Ultimately, in five years, my goal is to be in a location-independent position or business that involves no clinical care and might be completely outside medicine.
I have a wife (age 51) that is in a corporate position where she has a physician-like base salary, but bonuses and stock incentives that vary, sometimes wildly. This year, she will be paid like an orthopedic surgeon (woo-hoo!). She plans to work until at least age 55 (where retiree medical for employee AND spouse kicks in), and our youngest of two children is off to college. Worst case scenario is that I leave the workplace entirely, and she shoulders the load. We can live reasonably well on her income and not draw down our assets--with kids in college, we just won't be saving beyond her 401k contributions.
The bottom line is that for me, the concept of FI/RE is not to get out of working, but get out of work that I do not enjoy. Life is too short to burn out doing stuff that you no longer want to do, especially if you have the resources to make changes or leave the job entirely.
I have a wife (age 51) that is in a corporate position where she has a physician-like base salary, but bonuses and stock incentives that vary, sometimes wildly. This year, she will be paid like an orthopedic surgeon (woo-hoo!). She plans to work until at least age 55 (where retiree medical for employee AND spouse kicks in), and our youngest of two children is off to college. Worst case scenario is that I leave the workplace entirely, and she shoulders the load. We can live reasonably well on her income and not draw down our assets--with kids in college, we just won't be saving beyond her 401k contributions.
The bottom line is that for me, the concept of FI/RE is not to get out of working, but get out of work that I do not enjoy. Life is too short to burn out doing stuff that you no longer want to do, especially if you have the resources to make changes or leave the job entirely.
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