1. 1. List barriers and facilitators to physician retirement

2. 2. Reflect on their personal thoughts and feelings about retirement

3. 3. Describe personal steps or actions that need to be done in preparation

Background: Ernest Hemingway described the word retirement as “the ugliest word in the language.” Physicians dedicate much of their time, energy and career towards training and patient care, often without sufficient focus on financial planning, late-career activities, and what retirement will require of them. There are significant competing tensions that create challenges in physician retirement.

Methods: A literature review was conducted to determine the enablers and barriers to physician retirement. Participants will reflect on how this applies to their own context and will have an opportunity to begin considering a late-career transition plan.

Results: Earlier retirement is associated with mental and physical stressors, and later retirement is associated with intuitional flexibility, and a feeling of lack of purpose and primary identity. Barriers to retirement include insufficient financial planning, rigid organizational structures, and an identity that is mostly based on being a physician. Facilitators include good health, opportunities to teach, adequate financial planning, succession planning, and the development of interests outside of medicine.

Conclusions: The training and practice of medicine often requires a near-total commitment at expense of personal life and late-career planning. There are clear enablers and barriers to physician retirement. Recommendations include institutional retirement planning, guidance around financial planning for physicians throughout their careers, and the creation of post- retirement opportunities that maintain institutional ties. Late-career mentoring and peer support may be of value.