It’s hard to face the prospect of leaving your career and retiring.
You’ve worked hard in medicine your whole life.
It gives you a sense of purpose, a feeling that in this wild world of ours you’re making a positive difference.
Maybe you’re not sure you’re ready for that to end.
At the same time, the high stress environment of your corporate medical job – or even your full time private practice – might be too much at this point in your life.
However, there are options outside of fully retiring from medicine.
Many medical professionals choose to adapt their work and enter semi retirement so they can still continue working in medicine.
Maybe you love your work but the pace you’ve been working isn’t sustainable and you’d like to slow down a little.
Have you considered a medical coworking space?
Here at Symbiosis, our medical coworking space in Washington DC can help you as you ease your way out of full time practice and into semi retirement.
Let’s talk more about semi retirement and how you can prepare for it.
What Is Semi Retirement?
Semi retirement is a transition to a different mode of working, rather than stopping entirely.
You may decide you want to cut down on the hours you work or take on an easier role that’s less demanding and stressful.
This can help you find a work life balance as a healthcare provider that suits the later stage of your career.
Semi retirement is becoming more common for many reasons.
Perhaps you want to maintain an active lifestyle and keep yourself busy and engaged in your community.
Or maybe you want to make sure you’re getting supplemental income.
You may even want to adjust or adapt your business as you approach retirement age, so you can sustain your career for even longer than you originally imagined.
Whatever the reason, perhaps semi retirement is for you.
How To Know If You’re Ready For Semi Retirement
Have you been waiting for signs that you’re ready for semi retirement?
There are a few things you may want to look out for.
Whether you’re within a certain age range, no longer have to support dependents, or you’ve finally paid off all your debts, it’s hard to know when it’s the right time.
Let’s go over some of the main signals to look out for so you know if you’re ready to semi retire.
1. You’re Financially Stable
Before retiring, it’s a good idea to make sure you don’t carry a lot of debt.
Having dependents like children or aged parents can also be a financial barrier to reducing your workload in medicine.
Take the time to budget for your adjusted income.
How much can you afford to reduce your workload – and therefore your income?
The answer to this question will be different for everybody.
2. Your Spouse Is Ready For You To Retire
Retirement decisions don’t just affect you, so it’s a good idea to make sure your partner is on board.
After all, your semi retirement plans may impact the plans your spouse has for their own retirement.
Make sure you’re basing your timing around each other and make these decisions as a team.
3. You Have A Plan For What Comes Next
Since you’re planning a semi retirement, you know a little bit about what you’re in for when it comes to the work you’d like to keep doing.
Still, take some to consider how you’ll want to spend your time.
Having a plan for what’s next means not just knowing what you’re retiring from, but what you’re retiring to.
You might enjoy spending time just relaxing on the couch for the first few weeks, but that’s going to get old fast.
Practicing Medicine Part Time In A Medical Coworking Space
Of course, people in other careers may opt to work as consultants, switch to part time work, start a small business, or even take a lower stress retail job to stay busy.
But you’re a healthcare provider, and you’ve been practicing medicine your entire life.
At your age, the fast paced environment and high stress of your corporate healthcare job is too much.
You’re done with that life, but at the same time you don’t want to give up practicing medicine altogether.
You love what you do, and your patients have come to rely on you for the high quality of medical care they’ve received from you over the years.
It may be time for you to retire from your corporate healthcare job, but that doesn’t mean you have to stop practicing medicine altogether.
Here at Symbiosis, we’re a medical coworking space that can help you start your own private practice and grow to whatever size you want.
In some cases, we help newly minted doctors start their own private medical practice fresh out of residency.
These doctors are enthusiastic, hungry, and excited to find out how to grow their new private practice.
But if you’re getting closer to the end of your career, you might be after more of a part time practice as you seek out a different work life balance.
Symbiosis can be your solution.
One of the many benefits of the medical coworking space model is that you only pay for the time and the space you need, rather than getting stuck in an expensive commercial lease.
You can practice medicine as much – or as little – as you want, and Symbiosis can accommodate.
At the same time, you aren’t an employee, so you’re responsible to nobody except yourself, your patients, and your ethics board.
Starting your private practice in a medical coworking space combines the benefits of starting your own private practice and joining an existing one – perfect for these twilight years of your career.
Questions? Ask Symbiosis!
Does joining a medical coworking space sound like it will be the right fit for you during your semi retirement?
If you have questions, don’t hesitate.
Contact Symbiosis today, and take your first step toward a lower stress lifestyle in private practice.
Our Practice In A Box solutions take all the headaches out of opening and scaling your own private practice. We provide the clinic medical coworking space, operations, management, and more. Do what you do best – practice medicine – and leave the rest to us. From start to finish, we make sure your business is ready and thriving. This is what makes Symbiosis the smarter choice.