When to Retire as a Doctor

For a doctor, planning retirement can be a matter of life and death. Work too long and the extensive hours and high stress could harm your physical and emotional health. If burnout or aging cause your performance to slip, you might not be able to provide the care that your patients need. On the other hand, retire too soon and you might step into a new phase of life that you're unprepared for and that doesn't fulfill you as much as your career did.

These three signs might suggest that it's time to start thinking about retirement. The earlier you diagnose the symptoms, the sooner you can start planning and approach this transition from a more positive place.

1. Red flags are piling up.

Mispronouncing a patient's last name or overlooking an appointment on your calendar -- these things happen to every doctor. But don't ignore consistent lapses in memory. At the minimum, your mind might be telling you that you're bored, distracted, or not as invested in your work as you should be. At worst, you might be showing signs of cognitive decline that you should address immediately.

Chronic dissatisfaction and irritation can also be signs that you're ready to leave your career behind. You might notice that you're being short with patients or less generous towards colleagues and younger doctors with your time. As you age, you might have trouble recovering from the long work hours or meeting the physical demands of the job. And if your appointment calendar starts opening up unexpectedly, your patients might be noticing something that you're not.

2. You've planned a compelling retirement schedule.

High-performing professionals, like doctors and CEOs, often experience a crisis of identity when they retire. Without your title and responsibilities, you might feel like you no longer have a sense of purpose. And without the rigors of your work schedule, you might have more free time than you know what to do with.

Our Ideal Week in Retirement coaching tool can help you embrace a mindset of retiring "to" something, not "from" your career. We present folks with a week’s worth of blank blocks for every Morning, Afternoon, and Evening. How many of those blocks can you fill in with hobbies, exercise, date nights with your spouse, tee times with your retired friends, weekend trips to visit your grandkids? Where should you make time to try new things and develop new interests?

The remaining blocks might provide you with an opportunity to repurpose your valuable medical skills. You could teach, consult, volunteer at a free clinic, participate in studies, or contribute to professional journals.

Seeing a full and invigorating vision of your life in retirement should get you excited to start this transition. You might also be excited about what you don’t see: paperwork, office politics, early mornings, and late nights.

3. Your nest egg is ready.

With years of medical school, hefty PTPTN or education loan repayments, and modest houseman salaries, many young doctors in Malaysia start their careers financially behind. So when that first big paycheck arrives as a medical officer or specialist, it takes serious discipline not to fall into the trap of “keeping up with the Lims” — whether it’s buying a luxury car, upgrading to a condo, or swiping for the latest gadgets. Some even end up extending their working years just to fix financial missteps made early on.

Those who’ve stayed disciplined and steadily built wealth may find it challenging to shift from “saving” to “spending” mode as they edge closer to retirement. Many worry if their EPF, PRS, or investment portfolios can support the standard of living they’ve grown used to — the well-earned comforts from years of long hours and dedication.

Our Life-Centered Planning approach is here to guide you through these crossroads of life and money. Schedule a session with us and explore our interactive Retirement Coaching tools — together, we’ll craft a vision for your ideal retirement and the financial roadmap to get you there.