Retired physicians (but others ok too. ;))

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is50xenough
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Retired physicians (but others ok too. ;))

Post by is50xenough »

Curious about what you did with:
1) licensure
2)continuing board certification/maintanence
3)journal subscriptions
4)society memberships

Questions are whether kept, stopped, when, rationale


Thanks to all.
tibbitts
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Re: Retired physicians (but others ok too. ;))

Post by tibbitts »

If you want input from non-physicians you might mention the costs of these items, maybe in percentage terms of your SWR, along with any time requirements (continuing education, etc.)

Also you might mention if you'd be dropping these on day one of retirement, or after a year, or two etc.
Topic Author
is50xenough
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Re: Retired physicians (but others ok too. ;))

Post by is50xenough »

tibbitts wrote: Wed Sep 23, 2020 11:01 am If you want input from non-physicians you might mention the costs of these items, maybe in percentage terms of your SWR, along with any time requirements (continuing education, etc.)

Also you might mention if you'd be dropping these on day one of retirement, or after a year, or two etc.
Tibbitts thanks for asking for clarification. Not asking for advice that requires calculation however, asking what folks who retired actually did. While continuing any or all of these can be done financially, that is not the question I am asking. Wondering more about what folks rationale was. For example, someone might say, "I kept my license so I could go back to work if I realized I was bored or needed money but after 2 years was ok and stopped keeping", or I kept journals in retirement to have that reading for mental stimulation versus I stopped them because saw no reason to read them if not working in the field anymore.

Hope that helps.

Thanks again
carolinaman
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Re: Retired physicians (but others ok too. ;))

Post by carolinaman »

I was senior IT manager who managed a large IT organization for my last 22 years. When I retired, I only went back a couple of times for other retirement parties and only maintained relationships with a few people. I felt I needed to get out and let the new guy run the organization.

I was an officer and board member of several local and national professional organizations. I continued to be involved in some of those organizations for a couple of years before bowing out. Staying involved in those organizations helped me ratchet down to retirement rather than doing it cold turkey.

After retirement I became a volunteer management consultant with a global non profit Christian ministry for about 8 years which enabled me to stay involved in IT on a limited basis and contribute to a great cause. From a management perspective, it was interesting how little things changed during that time. Technology changes frequently but people and political issues tend not to change much.

I know a physician (surgeon) at church who is retired and volunteers his services to third world countries periodically. That may not be your cup of tea but you may want to consider giving back in some capacity for causes you care about. You have valuable skills and knowledge that can be quite valuable non profits and other organizations, even on a limited basis.
DebiT
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Re: Retired physicians (but others ok too. ;))

Post by DebiT »

Newly retired licensed psychotherapist, age 63. Keeping up my license, therefore continuing Ed also. Only going to keep my state professional association because it is useful. If i want, I have an “in between” option of making license “inactive”, but then if I wanted to to practice I’d have to bring continuing ed of up to 36 hours up to date. For now, I’ll renew every 2 years until I’m positive I don’t want to practice in any capacity.
Age 62, life turned upside down 3/2/19, thanking God for what I've learned from this group
hmw
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Re: Retired physicians (but others ok too. ;))

Post by hmw »

is50xenough wrote: Wed Sep 23, 2020 10:56 am Curious about what you did with:
1) licensure
2)continuing board certification/maintanence
3)journal subscriptions
4)society memberships

Questions are whether kept, stopped, when, rationale


Thanks to all.
I am not retired yet. I am in my mid-40's. Will likely retire in 5-10 years.

I think I will keep my state license and board certification for 5-6 years post retirement. I have no plan to do part time work or locums after retirement. I only have one state license. It cost about $550 every 2 years. Cheap insurance. Board certification is not that difficult to do. So will keep board certification.

I don't pay for any journal subscriptions now.

My employer currently pays for my FACS membership fee. $625 a year. I will not continue after retirement.
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Munir
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Re: Retired physicians (but others ok too. ;))

Post by Munir »

I retired 23 years ago. I kept my licensure and society membership for only a few years for emotional self-identity reasons. My board certification did not need renewal but is academic now because I have no license. Discontinued journal subscriptions. I have mostly kept M.D. after my name but added (retired). I think most physician retirees keep some kind of linkage, even just symbolic, to their previous identity but it varies among individuals. My family sees me mostly as a grandpa now- which is fine with me. I had other interests than medicine while in practice so I was never identified solely as an M.D.
Retired 2017
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Re: Retired physicians (but others ok too. ;))

Post by Retired 2017 »

At retirement I had six months to decide whether or not I wanted to continue with my license. I decided not to renew my license. I had no intent of returning to practice nor did I want to do charity or mission work.

Except for a few textbooks that were signed, and a few texts that I gave to my partners I had no use for the textbooks. I recycled them. I recycled the old journals as well.

I left my white coats at my employers.

I discontinued subscriptions in the six months prior to retirement and also once I retired.

I have a drawer I rarely open where I keep stethoscopes and other pieces of medical equipment that I accumulated over the years. Some of these are antiques. If anyone came into my house and looked around they would have no idea that I was a retired physician.

Now and then I will receive mail addressed to my MD name but I do not include the suffix in any correspondence. I do not introduce myself as doctor.

My feeling was that the professional organizations had not met the needs of the common physician in dealing with many issues for many years. Burn out, malpractice reform, EHR, financial concepts are a few examples. At retirement I discontinued membership in any professional organizations that I hadn't already dropped during practice.

My college, medical school, residency, and several medical organizations still send me special opportunities to contribute to their cause.
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Re: Retired physicians (but others ok too. ;))

Post by qwertyjazz »

Wdghhgc
Last edited by qwertyjazz on Fri Sep 25, 2020 9:10 am, edited 1 time in total.
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obgraham
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Re: Retired physicians (but others ok too. ;))

Post by obgraham »

Retired now for 20 years. I then did a fair bit of overseas mission medicine, for which I needed a valid license, but the "retired-active" category in my state worked fine for that. Only $100 every 2 years.
Otherwise, bagged the DEA registration, and converted specialty memberships to "life" or "retired" status, none of which costs me anything.
I still get some specialty throw-away journals, just out of interest, but nothing requiring me paying. I also have a lifetime membership to NEJM which I bought for $300 in 1975 -- (best investment I ever made!) So I can still read about medical politics if I choose to!

No need to consider myself a "doctor" anymore, though former patients still greet me in the streets.
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KingRiggs
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Re: Retired physicians (but others ok too. ;))

Post by KingRiggs »

Not retired yet, but I think I could see maintaining a current license solely for the purpose of prescribing for family and friends (the odd Z-pack or medal dose pack). Do not plan to maintain any memberships in professional society or journal subscriptions.
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TheNightsToCome
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Re: Retired physicians (but others ok too. ;))

Post by TheNightsToCome »

I left cardiology due to burnout in 2001with no intention to return. I let everything expire.

Twelve years later I hit the books again and aced by board recert and then returned to practice after 13 years away.
drzzzzz
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Re: Retired physicians (but others ok too. ;))

Post by drzzzzz »

Retired 6 years ago
Kept medical license (some states have retiree license for which you might not need to do CME) rather than an active license
Continue to do CME to maintain license
Continue society membership at retire reduced rate - pretty cheap for the year to stay informed
Discontinued journals/etc since much can be found online for free

No malpractice coverage
Likely won't sit for board exams again in a few years
rsgdmd
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Re: Retired physicians (but others ok too. ;))

Post by rsgdmd »

I'm a retired dentist. Had been working as locum tenens for 18 mo. until March, 2020. My malpractice company sent general email stating that dentists who were not working for more than 45 days (due to Covid) could be eligible for a partial rebate on premium. When I contacted them, they said they wouldn't be renewing me for 2021 as they didn't like covering dentists doing temporary assignments. They offered a refund of premium pro-rated back to my last day worked and a free tail as long as I retired (at least with them). Took the offer and haven't worked since.

My license and DEA is up soon. Can't see starting with new carrier (& needing a tail (won't be free)), so letting everything lapse. I'm done. Wouldn't mind doing some more temp. work, but not worth the costs to work 40 - 50 days a year. Still getting some journals, but stopped taking CE. Taking classes and seminars on other things that interest me now.
deserat
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Re: Retired physicians (but others ok too. ;))

Post by deserat »

My stepmother, a nurse practitioner, has kept her licensures and just did her last go round (fees and CMEs). She volunteers 1-2x a week at a free clinic just to stay intellectual my challenged and to give back to the community. She is 76 and her cert expires at age 80. She receives no compensation for her work. She will go to 1x a week next year and then when my father retires, she will, too. She still gets some journals, etc, in the mail.

Dad's a tenured prof and will be 80 this December. He believes he will still teach but only on contract and minimally after his official retirement. He likes what he does, I guess. 🙂
reddison
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Re: Retired physicians (but others ok too. ;))

Post by reddison »

I'm facing this decision now, with retirement early next year at age 63. I am licensed (attorney) in 2 states. I will receive a retirement payout over a 5 year period. If I give up my license, and don't provide any further services, I can avoid paying self-employment taxes and save around $4k a year over the 5yr period. If I keep the license, I will be an Of Counsel, and will continue to take CLE each year, with all fees and costs paid by my firm. And I'd have to pay the SE tax. I will keep my office no matter which way I go and the firm will maintain malpractice insurance for as long as necessary - which might be a consideration for you too. I am leaning towards keeping the license in my primary state because it just seems too final to abruptly turn over my license and close the door on any future practice, even though I seriously doubt I will ever choose to practice again. Once I am 65, I believe there is a retiree status that would relieve me of the CLE obligations and allow me to easily reinstate the license if I choose. I may do that when the time comes.
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is50xenough
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Re: Retired physicians (but others ok too. ;))

Post by is50xenough »

Just to chime in that I am reading all the posts and am very appreciative---the rationale and thought process given is helpful and just what I am looking for.

In relation to malpractice---don't need since not seeing patients and have no need for tail coverage.

if someone ever convinced me to work, they would have to cover as part of deal---but I think convincing will be hard to impossible---and although rather do non-healthcare related volunteer at this point won't rule out someone, someday convincing me of the helpfulness of my skills.
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familythriftmd
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Re: Retired physicians (but others ok too. ;))

Post by familythriftmd »

is50xenough wrote: Wed Sep 23, 2020 10:56 am Curious about what you did with:
1) licensure
2)continuing board certification/maintanence
3)journal subscriptions
4)society memberships

Questions are whether kept, stopped, when, rationale


Thanks to all.
I'm a new doctor, so maybe I'm not the best for this, but i'll jump in.
Is the cost of licensing a thing for you? If so, some states are dirt cheap and others are ridiculous. I think Wisconsin was $75, but California is over $1000. Assuming your NW is in multiple millions, then maybe that's not a big deal, but it seems like it to me in "my younger and more vulnerable years"
CME: If it wasn't for COVID, it's kind of fun to go and network at the live conferences. Otherwise, the online stuff seems like a chore.
Journal subscriptions: I'm bad at keeping up with them now! That seems the easiest to drop out of all of this.
Societies: I would drop the big ones like AMA, but if you like the social part of your specialty society, then maybe you'd want to keep that one?

Take the above for what it's worth to you. Congratulations for achieving retirement!
Thrift stores, outlets and market corrections have this in common: you're buying on sale.
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is50xenough
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Re: Retired physicians (but others ok too. ;))

Post by is50xenough »

familythriftmd wrote: Thu Sep 24, 2020 4:48 pm
is50xenough wrote: Wed Sep 23, 2020 10:56 am Curious about what you did with:
1) licensure
2)continuing board certification/maintanence
3)journal subscriptions
4)society memberships

Questions are whether kept, stopped, when, rationale


Thanks to all.
I'm a new doctor, so maybe I'm not the best for this, but i'll jump in.
Is the cost of licensing a thing for you? If so, some states are dirt cheap and others are ridiculous. I think Wisconsin was $75, but California is over $1000. Assuming your NW is in multiple millions, then maybe that's not a big deal, but it seems like it to me in "my younger and more vulnerable years"
CME: If it wasn't for COVID, it's kind of fun to go and network at the live conferences. Otherwise, the online stuff seems like a chore.
Journal subscriptions: I'm bad at keeping up with them now! That seems the easiest to drop out of all of this.
Societies: I would drop the big ones like AMA, but if you like the social part of your specialty society, then maybe you'd want to keep that one?

Take the above for what it's worth to you. Congratulations for achieving retirement!
Thanks familythriftmd. Since you are just starting, I'll give you my thoughts from the "far side". It's more of a rationale thing. $ not really the concern although between all the things I mentioned could add up to $2000 a year total pretty easily. Likely license and boards will be last to go---hardest, if not impossible to get again, and burns many bridges. I have been trying to avoid journals for now---still have stuff I could read that has been gathering dust and some journals keep coming as part of society membership, so yes easy to fall behind. My advice is while young to keep up as much as possible as best way to stay current, know standard of care, be sharp for your boards, etc. Eventually, keeping up gets harder and harder but early in game for sure try. As said above, some societies will do an emeritus or retiree status with varying criteria and varying degrees of money saved, only rarely becomes free from what I've seen.

I will say that there are still expert requests, legal and otherwise and I figure I can spend that "free" money on some of the above and use as business expense to eliminate profit for the business.

Again, appreciate every one's feedback so keep it coming.......
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familythriftmd
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Re: Retired physicians (but others ok too. ;))

Post by familythriftmd »

Thanks! I'm working on continually reading, but I'll work at catching up with my AFP (family med) issues!
Thrift stores, outlets and market corrections have this in common: you're buying on sale.
musicagogo
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Re: Retired physicians (but others ok too. ;))

Post by musicagogo »

I retired early Spring and I've been giving this some thought also. At this point I think I will maintain my license, and likely for many years as I'm in my early '60's and although I do not plan to go back to work, who know what the future might bring. I have decided to cancel my malpractice and consider myself "retired" which means no extra tail coverage costs.
My boards when I took them were for life so no concerns about that. But no journals-I can get CME and information easily for free now, so won't spend money on this. I am maintaining one society but dropping the others.
I'm also thinking of leaving my HCOLA city to a LCOLA city and applied and received licensure in this other state while I still had hospital privileges.
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is50xenough
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Re: Retired physicians (but others ok too. ;))

Post by is50xenough »

First to familythriftmd » I vaguely remember reading AFP in medical school. I think Family Med was pretty new or was at least being pushed and maybe we all got free subscriptions. Liked it. Gave a broad sense of all of medicine is very approachable format. I think I published a paper or two there also.

musicagogo » You are much wiser than me. Maybe I should have gotten license in state we want to move to. Oh well. Likely won't need. But great idea for others!
DJZ
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Re: Retired physicians (but others ok too. ;))

Post by DJZ »

is50xenough wrote: Wed Sep 23, 2020 10:56 am Curious about what you did with:
1) licensure
2)continuing board certification/maintanence
3)journal subscriptions
4)society memberships

Questions are whether kept, stopped, when, rationale


Thanks to all.
I stopped journals and society memberships right away, but still get email from NEJM and ACC and so forth with links to articles. I took boards in 2014 and retired in 2015; this expires 2024. I’m not doing CME. I still have a license but it’s not active status.

I thought that I would dwell on medicine for a long time, but that turned out not to be the case. There is a lot of other things of interest out there!!
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JDCarpenter
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Re: Retired physicians (but others ok too. ;))

Post by JDCarpenter »

is50xenough wrote: Wed Sep 23, 2020 10:56 am Curious about what you did with:
1) licensure
2)continuing board certification/maintanence
3)journal subscriptions
4)society memberships

Questions are whether kept, stopped, when, rationale


Thanks to all.
DW was small group OBG. Retired at age 56, and let everything lapse by the end of thar year (when her DEA and state license were up). Theory was that we were retiring to travel and that she'd put her time in already. That's been three years now, and she has no regrets.
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Cruise
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Re: Retired physicians (but others ok too. ;))

Post by Cruise »

Not a physician, but a licensed professional. When I sold my consulting business, gave up my office, and started thinking of myself as semi-retired (I still did a tiny bit of consulting work), I stopped all journals and put myself in retired status in my professional associations (they knew I was semi-retired).

On the first go-around, I was going to fail to renew my license, but I got delicensure anxiety, so right before the deadline, I spent a few thousand dollars and traveled to a conference and got my credits. That was two years ago.

This year, I was going to fail to renew my license! However, COVID-19 offered an opportunity: I asked the licensing board to renew my license without the necessary CE credits because COVID-19 caused the conference I usually go to for CE to be cancelled. I got the license renewed for the full two-year period. Not that I anticipate there will be much or any work during this time for me, but I still have the option for the next two years, and I can still maintain my professional identity.

Good luck to you.
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oncorhynchus
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Re: Retired physicians (but others ok too. ;))

Post by oncorhynchus »

Looking to retire shortly after the beginning of next year at age 49, but am a bit conflicted. Will have my military retirement pay to cover living expenses and don't necessarily need to further feather my 7-figure nest egg. Would like to keep my license for at least a few more years as I might be amenable to something part-time and for self/family scripts, but will be moving to a yet undecided LCOL state and would need to re-license there. Not sure how easy it would be to come back after more than 6 months of not practicing. More concerned with losing my gratis UpToDate access than majority of my journals. I prepaid my MOC quite a few years ago so am going to go ahead and recert by end of next year, but then that's it. Maybe I'm having a hard time letting go, but can't continue to push down the dread I feel waking up every morning I'm on service.

o
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Nowizard
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Re: Retired physicians (but others ok too. ;))

Post by Nowizard »

Often, those expenses were paid by others, and they can be substantial, particularly as related to obtaining CE hours. Personally, the decision was made by determining the probability of returning to work either from the angle of unexpected financial issues or boredom. Neither were expected, but all of the items related to licensing were kept for two years which was the end of a cycle and start of another one. Had that not been the case, In our state, you can reapply up to two years following retirement of licensure and be newly licensed, though you do have to fulfill all requirements that would have otherwise applied. I would advise keeping licensure for at least one year following retirement since there are many other things occurring at that time that could skew decision making.

Tim
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gasdoc
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Re: Retired physicians (but others ok too. ;))

Post by gasdoc »

May I post a related, specific question in your thread? Do any of the retired docs that let everything lapse miss the ability to write their own scrips- chronic meds, occasional antibiotic, etc.? Thanks.

gasdoc
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is50xenough
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Re: Retired physicians (but others ok too. ;))

Post by is50xenough »

So far I have likely written for family at most twice. Last time was within last 2 years and was for myself. Was actually just correcting an error on a non-opiate script from primary care. Other time was probably a couple decades ago and might have been an antibiotic for family member. Always check state laws about this issue and insurance coverage.
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gasdoc
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Re: Retired physicians (but others ok too. ;))

Post by gasdoc »

is50xenough wrote: Fri Sep 25, 2020 8:33 am So far I have likely written for family at most twice. Last time was within last 2 years and was for myself. Was actually just correcting an error on a non-opiate script from primary care. Other time was probably a couple decades ago and might have been an antibiotic for family member. Always check state laws about this issue and insurance coverage.
I like the idea of checking sites such as GoodRX, and then just calling in the RX to the best priced pharmacy myself.

gasdoc
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BolderBoy
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Re: Retired physicians (but others ok too. ;))

Post by BolderBoy »

TheNightsToCome wrote: Wed Sep 23, 2020 6:27 pm I left cardiology due to burnout in 2001with no intention to return. I let everything expire.

Twelve years later I hit the books again and aced by board recert and then returned to practice after 13 years away.
That is pretty impressive. Well done.
"Never underestimate one's capacity to overestimate one's abilities" - The Dunning-Kruger Effect
rikki
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Re: Retired physicians (but others ok too. ;))

Post by rikki »

When I retired in 2015 in my late 50's, I kept my license and did CME for one additional year, concerned that I would miss clinical care (I didn't!). At the end of that year, I switched to inactive status and one year later completely retired with the Board here in MA. There was a mental health component of wanting very much to see myself as starting a new chapter and to jettison an identity that took a great deal of time and effort for 28 years.

I still read some articles in the NEJM; I have tried to read some Virology and Epidemiology papers about Covid-19 but haven't attempted to keep up in my field of specialization (Heme/Onc) because it is overwhelming--like a fire hose. I stopped giving any advice to friends and family when I gave up my license completely and have been glad not to be prescribing Z-pack to my grown children anymore!

Giving up my license etc freed me mentally to pay attention to what I wanted to do during the next 20 years, and eased the process of retiring to something else. I've worked as a contact tracer and Census field supervisor in 2020, trained as a locksmith for fun, bike, sweep row and hike, do volunteer work, and am active in my local Learning in Retirement community. No regrets.
TheNightsToCome
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Re: Retired physicians (but others ok too. ;))

Post by TheNightsToCome »

BolderBoy wrote: Fri Sep 25, 2020 11:10 am
TheNightsToCome wrote: Wed Sep 23, 2020 6:27 pm I left cardiology due to burnout in 2001with no intention to return. I let everything expire.

Twelve years later I hit the books again and aced by board recert and then returned to practice after 13 years away.
That is pretty impressive. Well done.
:beer
Tattarrattat
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Re: Retired physicians (but others ok too. ;))

Post by Tattarrattat »

Would be interested to hear from physicians who retired at younger ages, less than 60, about the emotional impact of losing the MD identity after so many years preparing for and living that identity. Seems like so many MDs can't let go of that.
TheNightsToCome
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Re: Retired physicians (but others ok too. ;))

Post by TheNightsToCome »

Tattarrattat wrote: Fri Sep 25, 2020 7:36 pm Would be interested to hear from physicians who retired at younger ages, less than 60, about the emotional impact of losing the MD identity after so many years preparing for and living that identity. Seems like so many MDs can't let go of that.
I left at 42 and was very glad to be rid of the endless days at a headlong sprint that ran into sleepless nights with incessant beeper calls.

The only emotion I felt was relief.
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gasdoc
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Re: Retired physicians (but others ok too. ;))

Post by gasdoc »

TheNightsToCome wrote: Fri Sep 25, 2020 8:02 pm
Tattarrattat wrote: Fri Sep 25, 2020 7:36 pm Would be interested to hear from physicians who retired at younger ages, less than 60, about the emotional impact of losing the MD identity after so many years preparing for and living that identity. Seems like so many MDs can't let go of that.
I left at 42 and was very glad to be rid of the endless days at a headlong sprint that ran into sleepless nights with incessant beeper calls.

The only emotion I felt was relief.
What have you done since retiring, if I may ask?

gasdoc
TheNightsToCome
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Re: Retired physicians (but others ok too. ;))

Post by TheNightsToCome »

gasdoc wrote: Fri Sep 25, 2020 8:59 pm
TheNightsToCome wrote: Fri Sep 25, 2020 8:02 pm
Tattarrattat wrote: Fri Sep 25, 2020 7:36 pm Would be interested to hear from physicians who retired at younger ages, less than 60, about the emotional impact of losing the MD identity after so many years preparing for and living that identity. Seems like so many MDs can't let go of that.
I left at 42 and was very glad to be rid of the endless days at a headlong sprint that ran into sleepless nights with incessant beeper calls.

The only emotion I felt was relief.
What have you done since retiring, if I may ask?

gasdoc
You have probably read this story elsewhere, gasdoc, but:

Spent 2 1/2 years decompressing: Spent time with girlfriend, family, my German Shepherd, and at the gym. Spent rest of time at bookstores studying finance, accounting, equity valuation because investing was my hobby.

Emailed a professional investor with comments about one of his published articles, and he invited me to interview for healthcare equity analyst position. Started that new career in new city with interesting, like-minded colleagues. Earned CFA designation.

Left job for MBA. Returned to hometown after MBA to spend time with parents and sibs. Started hobby RIA.

Became critically ill and was misdiagnosed by a cardiologist who was not the sharpest knife in the drawer. My training saved me much morbidity and probably my life.

Became interested in cardiology again through that experience. Started studying after 12 years away, and scored in top decile on board re-cert. Returned to practice after 13 years.

Employed now rather than running a private practice, and although work is demanding again (unlike equity analysis, CFA, MBA, RIA), it is nothing like what I endured previously. I like my work. I just don't like being buried under an avalanche of work.
chipperd
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Re: Retired physicians (but others ok too. ;))

Post by chipperd »

Psychotherapist retired from private practice just over a year ago.

Kept up licensure and all that entails (cont ed, paying for license) as I do have a really small consulting contract with a public agency. Would keep even if I didn't have that as needed for keeping the malpractice insurance.

Kept malpractice insurance (relatively inexpensive for my profession), as not sure who come out of the woods and say what from x number of years ago. For a couple hundred bucks a year, it's inexpensive peace of mind.

Kept up with professional organization as that is needed to get the malpractice insurance. Otherwise I would have dumped that annual expense.

So all in, about $600/year to sleep well at night and keep the consulting contract.
Curious, OP, what what would the same cost you on an annual basis?
Retirement Nerd
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Re: Retired physicians (but others ok too. ;))

Post by Retirement Nerd »

Tattarrattat wrote: Fri Sep 25, 2020 7:36 pm Would be interested to hear from physicians who retired at younger ages, less than 60, about the emotional impact of losing the MD identity after so many years preparing for and living that identity. Seems like so many MDs can't let go of that.
Retired from medicine 11 months ago at age 59. I made arrangements to teach Anatomy & Physiology part time at the local University near my retirement home. Between golf, exercising regularly and sharing my clinical experience with these future health professionals I have never been happier.
:sharebeer
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gasdoc
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Re: Retired physicians (but others ok too. ;))

Post by gasdoc »

TheNightsToCome wrote: Sat Sep 26, 2020 5:14 am
gasdoc wrote: Fri Sep 25, 2020 8:59 pm
TheNightsToCome wrote: Fri Sep 25, 2020 8:02 pm
Tattarrattat wrote: Fri Sep 25, 2020 7:36 pm Would be interested to hear from physicians who retired at younger ages, less than 60, about the emotional impact of losing the MD identity after so many years preparing for and living that identity. Seems like so many MDs can't let go of that.
I left at 42 and was very glad to be rid of the endless days at a headlong sprint that ran into sleepless nights with incessant beeper calls.

The only emotion I felt was relief.
What have you done since retiring, if I may ask?

gasdoc
You have probably read this story elsewhere, gasdoc, but:

Spent 2 1/2 years decompressing: Spent time with girlfriend, family, my German Shepherd, and at the gym. Spent rest of time at bookstores studying finance, accounting, equity valuation because investing was my hobby.

Emailed a professional investor with comments about one of his published articles, and he invited me to interview for healthcare equity analyst position. Started that new career in new city with interesting, like-minded colleagues. Earned CFA designation.

Left job for MBA. Returned to hometown after MBA to spend time with parents and sibs. Started hobby RIA.

Became critically ill and was misdiagnosed by a cardiologist who was not the sharpest knife in the drawer. My training saved me much morbidity and probably my life.

Became interested in cardiology again through that experience. Started studying after 12 years away, and scored in top decile on board re-cert. Returned to practice after 13 years.

Employed now rather than running a private practice, and although work is demanding again (unlike equity analysis, CFA, MBA, RIA), it is nothing like what I endured previously. I like my work. I just don't like being buried under an avalanche of work.
Thanks for sharing. Would you do it again? Why did you go back to medicine?

gasdoc
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gasdoc
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Re: Retired physicians (but others ok too. ;))

Post by gasdoc »

Retirement Nerd wrote: Sat Sep 26, 2020 6:00 am
Tattarrattat wrote: Fri Sep 25, 2020 7:36 pm Would be interested to hear from physicians who retired at younger ages, less than 60, about the emotional impact of losing the MD identity after so many years preparing for and living that identity. Seems like so many MDs can't let go of that.
Retired from medicine 11 months ago at age 59. I made arrangements to teach Anatomy & Physiology part time at the local University near my retirement home. Between golf, exercising regularly and sharing my clinical experience with these future health professionals I have never been happier.
:sharebeer
Wow. I might have to look into that. Can you expand on that? Was it a difficult transition?

gasdoc
Topic Author
is50xenough
Posts: 123
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Re: Retired physicians (but others ok too. ;))

Post by is50xenough »

chipperd wrote: Sat Sep 26, 2020 5:24 am
Kept up licensure and all that entails (cont ed, paying for license) as I do have a really small consulting contract with a public agency. Would keep even if I didn't have that as needed for keeping the malpractice insurance.
Kept malpractice insurance (relatively inexpensive for my profession), as not sure who come out of the woods and say what from x number of years ago. For a couple hundred bucks a year, it's inexpensive peace of mind.
Kept up with professional organization as that is needed to get the malpractice insurance.

So all in, about $600/year to sleep well at night and keep the consulting contract.
Curious, OP, what what would the same cost you on an annual basis?
I think I mentioned that to keep most of what I listed would be in neighborhood of $2000 a year, maybe $3000. Or do you mean a specific component? Malpractice in my field much higher than what yours is and that is different story. Like I said, if did clinical work, whoever would want me would have to pay as a condition.
TheNightsToCome
Posts: 611
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Re: Retired physicians (but others ok too. ;))

Post by TheNightsToCome »

gasdoc wrote: Sat Sep 26, 2020 9:52 am
TheNightsToCome wrote: Sat Sep 26, 2020 5:14 am
gasdoc wrote: Fri Sep 25, 2020 8:59 pm
TheNightsToCome wrote: Fri Sep 25, 2020 8:02 pm
Tattarrattat wrote: Fri Sep 25, 2020 7:36 pm Would be interested to hear from physicians who retired at younger ages, less than 60, about the emotional impact of losing the MD identity after so many years preparing for and living that identity. Seems like so many MDs can't let go of that.
I left at 42 and was very glad to be rid of the endless days at a headlong sprint that ran into sleepless nights with incessant beeper calls.

The only emotion I felt was relief.
What have you done since retiring, if I may ask?

gasdoc
You have probably read this story elsewhere, gasdoc, but:

Spent 2 1/2 years decompressing: Spent time with girlfriend, family, my German Shepherd, and at the gym. Spent rest of time at bookstores studying finance, accounting, equity valuation because investing was my hobby.

Emailed a professional investor with comments about one of his published articles, and he invited me to interview for healthcare equity analyst position. Started that new career in new city with interesting, like-minded colleagues. Earned CFA designation.

Left job for MBA. Returned to hometown after MBA to spend time with parents and sibs. Started hobby RIA.

Became critically ill and was misdiagnosed by a cardiologist who was not the sharpest knife in the drawer. My training saved me much morbidity and probably my life.

Became interested in cardiology again through that experience. Started studying after 12 years away, and scored in top decile on board re-cert. Returned to practice after 13 years.

Employed now rather than running a private practice, and although work is demanding again (unlike equity analysis, CFA, MBA, RIA), it is nothing like what I endured previously. I like my work. I just don't like being buried under an avalanche of work.
Would you do it again? Why did you go back to medicine?

gasdoc
"Would you do it again?"

Not sure I would go to med school again if granted a mulligan, but given the same life circumstances at 42, yes, would do same again.

"Why did you go back to medicine?"

My illness. After the initial misdiagnosis, I directed my own work-up and found the correct diagnosis. That episode renewed my interest, and I wanted to be back on the inside.
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gasdoc
Posts: 1990
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Re: Retired physicians (but others ok too. ;))

Post by gasdoc »

:happy
TheNightsToCome wrote: Sat Sep 26, 2020 10:26 am
gasdoc wrote: Sat Sep 26, 2020 9:52 am
TheNightsToCome wrote: Sat Sep 26, 2020 5:14 am
gasdoc wrote: Fri Sep 25, 2020 8:59 pm
TheNightsToCome wrote: Fri Sep 25, 2020 8:02 pm

I left at 42 and was very glad to be rid of the endless days at a headlong sprint that ran into sleepless nights with incessant beeper calls.

The only emotion I felt was relief.
What have you done since retiring, if I may ask?

gasdoc
You have probably read this story elsewhere, gasdoc, but:

Spent 2 1/2 years decompressing: Spent time with girlfriend, family, my German Shepherd, and at the gym. Spent rest of time at bookstores studying finance, accounting, equity valuation because investing was my hobby.

Emailed a professional investor with comments about one of his published articles, and he invited me to interview for healthcare equity analyst position. Started that new career in new city with interesting, like-minded colleagues. Earned CFA designation.

Left job for MBA. Returned to hometown after MBA to spend time with parents and sibs. Started hobby RIA.

Became critically ill and was misdiagnosed by a cardiologist who was not the sharpest knife in the drawer. My training saved me much morbidity and probably my life.

Became interested in cardiology again through that experience. Started studying after 12 years away, and scored in top decile on board re-cert. Returned to practice after 13 years.

Employed now rather than running a private practice, and although work is demanding again (unlike equity analysis, CFA, MBA, RIA), it is nothing like what I endured previously. I like my work. I just don't like being buried under an avalanche of work.
Would you do it again? Why did you go back to medicine?

gasdoc
"Would you do it again?"

Not sure I would go to med school again if granted a mulligan, but given the same life circumstances at 42, yes, would do same again.

"Why did you go back to medicine?"

My illness. After the initial misdiagnosis, I directed my own work-up and found the correct diagnosis. That episode renewed my interest, and I wanted to be back on the inside.
:happy
chipperd
Posts: 733
Joined: Sat Sep 24, 2011 5:58 am

Re: Retired physicians (but others ok too. ;))

Post by chipperd »

is50xenough wrote: Sat Sep 26, 2020 10:16 am
chipperd wrote: Sat Sep 26, 2020 5:24 am
Kept up licensure and all that entails (cont ed, paying for license) as I do have a really small consulting contract with a public agency. Would keep even if I didn't have that as needed for keeping the malpractice insurance.
Kept malpractice insurance (relatively inexpensive for my profession), as not sure who come out of the woods and say what from x number of years ago. For a couple hundred bucks a year, it's inexpensive peace of mind.
Kept up with professional organization as that is needed to get the malpractice insurance.

So all in, about $600/year to sleep well at night and keep the consulting contract.
Curious, OP, what what would the same cost you on an annual basis?
I think I mentioned that to keep most of what I listed would be in neighborhood of $2000 a year, maybe $3000. Or do you mean a specific component? Malpractice in my field much higher than what yours is and that is different story. Like I said, if did clinical work, whoever would want me would have to pay as a condition.
Thanks for answering twice. Sorry, missed that first time through.
Topic Author
is50xenough
Posts: 123
Joined: Sat Jul 28, 2018 1:37 pm

Re: Retired physicians (but others ok too. ;))

Post by is50xenough »

chipperd wrote: Sat Sep 26, 2020 10:59 am
is50xenough wrote: Sat Sep 26, 2020 10:16 am
chipperd wrote: Sat Sep 26, 2020 5:24 am
Kept up licensure and all that entails (cont ed, paying for license) as I do have a really small consulting contract with a public agency. Would keep even if I didn't have that as needed for keeping the malpractice insurance.
Kept malpractice insurance (relatively inexpensive for my profession), as not sure who come out of the woods and say what from x number of years ago. For a couple hundred bucks a year, it's inexpensive peace of mind.
Kept up with professional organization as that is needed to get the malpractice insurance.

So all in, about $600/year to sleep well at night and keep the consulting contract.
Curious, OP, what what would the same cost you on an annual basis?
I think I mentioned that to keep most of what I listed would be in neighborhood of $2000 a year, maybe $3000. Or do you mean a specific component? Malpractice in my field much higher than what yours is and that is different story. Like I said, if did clinical work, whoever would want me would have to pay as a condition.
Thanks for answering twice. Sorry, missed that first time through.
Or maybe I didn't answer before---I am retired and don't have to stay as sharp. :) :wink: :oops:
mhalley
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Re: Retired physicians (but others ok too. ;))

Post by mhalley »

I retired about 5 yrs ago. I let the DEA aspect lapse, but kept the state license in case I had to write the occ rx. My CME is taken care of by the free medical publication I get due to being retired. Licensure costs about $300 a year. Will probably let it lapse next go round.
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gasdoc
Posts: 1990
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Re: Retired physicians (but others ok too. ;))

Post by gasdoc »

mhalley wrote: Sat Sep 26, 2020 11:27 am I retired about 5 yrs ago. I let the DEA aspect lapse, but kept the state license in case I had to write the occ rx. My CME is taken care of by the free medical publication I get due to being retired. Licensure costs about $300 a year. Will probably let it lapse next go round.
Does this mean you haven't found the ability to write Rx' s valuable?

gasdoc
Topic Author
is50xenough
Posts: 123
Joined: Sat Jul 28, 2018 1:37 pm

Re: Retired physicians (but others ok too. ;))

Post by is50xenough »

gasdoc wrote: Sat Sep 26, 2020 12:01 pm
mhalley wrote: Sat Sep 26, 2020 11:27 am I retired about 5 yrs ago. I let the DEA aspect lapse, but kept the state license in case I had to write the occ rx. My CME is taken care of by the free medical publication I get due to being retired. Licensure costs about $300 a year. Will probably let it lapse next go round.
Does this mean you haven't found the ability to write Rx' s valuable?

gasdoc
Gasdoc, at some point I was in a state or at an institution that had a prohibition so got in habit of not doing. On a couple occasions not in that state or place I've written Rx so I think it is like being a BH. You sort of 'set it and forget it" so if not in habit, don't do or think about much. Personally, even though I don't utilize hardly at all, once it is a question, seems like one more good reason to hold license, in addition to the others mentioned above.
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Re: Retired physicians (but others ok too. ;))

Post by Retirement Nerd »

gasdoc wrote: Sat Sep 26, 2020 9:56 am
Retirement Nerd wrote: Sat Sep 26, 2020 6:00 am
Tattarrattat wrote: Fri Sep 25, 2020 7:36 pm Would be interested to hear from physicians who retired at younger ages, less than 60, about the emotional impact of losing the MD identity after so many years preparing for and living that identity. Seems like so many MDs can't let go of that.
Retired from medicine 11 months ago at age 59. I made arrangements to teach Anatomy & Physiology part time at the local University near my retirement home. Between golf, exercising regularly and sharing my clinical experience with these future health professionals I have never been happier.
:sharebeer
Wow. I might have to look into that. Can you expand on that? Was it a difficult transition?

gasdoc
I was fortunate that a retired MD at my golf club was already teaching at the University. He was an enormous help making the connection with the Dept Chairman. I always enjoyed teaching residents and new nursing staff in my office so I knew it was something I was going to like in retirement. Seeing the lights go on when I relate a clinical experience from my career with some physiology concept we a studying makes it a truly rewarding experience. Experimenting with different ways to get present the information keeps my head in the game which obviously is important in retirement.
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