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Timing Retirement - Financial or state of mind -- what is your primary driver+plan?

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  • StateOfMyHead
    We are not fat FI but if not for a need for health insurance or my aversion to tighten the belt we could stop now. This offers the luxury of tapping out whenever the foolishness gets too much. My plan provided my health holds up is to work full time until a respectable 65yo.

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  • SpacemanSpiff12
    That's interesting.

    I can't imagine not having a glidepath towards retirement. It strikes me that most major life transitions won't go well if they're done immediately, suddenly, and massively.

    If one day, abruptly, you went from working 60 hours a week and being in the OR 3 days a week, to never setting foot in the hospital... well that seems like a good recipe for unhappy retirement. You'd have to find ways to replace a 60 hour void and a core aspect of your identity.

    Personally, I'm anticipating a combination of financial + state of mind. I want to hit our number before retiring. But I'm also looking forward to the day when I have enough saved and I can just walk out if work proposes any terrible changes. As we get closer to our number, I expect to keep decreasing my FTE...

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  • Timing Retirement - Financial or state of mind -- what is your primary driver+plan?

    Went to an orthopedic conference this week to see how you surgeons do things and was a great experience. I sat in a lunchtime discussion about 3 year retirement planning and surprised about how many in the room had no plans whatsoever.

    In fact, most cited no financial issues (poor orthopods clear $600k+ yearly easily per all the citations throughout the week) and primary issues from them retirement cited were: loss of power and loss of status/identity. That kind of surprised me. I didn't realize the need to be a 'king/queen' was a significant factor. There's always been the mantra 'have something to retire to' and I think it's harder for the surgeons to have this as they simply work longer hours by nature of typical career.

    Also very clearly private practices had no glidepath exit plans and reduction in time beyond a few hours was downright nonexistent (makes sense in high overhead private practices which they cited 30-50% typically).

    This especially was meaningful session as I had recently started my glidepath at 50 towards 60 retirement -- am I in the small minority of planning such where many looked simply to go from 110% to 0%?