RSRS has assembled some sound advice from experts in the financial and legal fields geared to you, the physician. The following is an excerpt from RSRS’ new guide: “Getting Ready to Retire: Financial and Estate Considerations for Retiring Canadian Physicians.”
How can a doctor earn additional income after retirement?
Retiring from private practice by no means suggests that all work must come to an end. If you feel that maintaining some ties to professional medicine is still in the cards for you, don’t surrender that license just yet.
There is a myriad of things you can do to keep yourself as connected and busy as you like.
Here are a few ideas:
- Teaching / Lecturing
- Part-time work at a walk-in clinic
- Consulting for a health technology company
- Consulting for a pharmaceutical company
- Sitting on the board of an organization involved in
- Training / mentoring a younger doctor who may be taking
over the practice
- Joining a healthcare mission in a third world country
- Working at a summer camp as the camp doctor
These are just a few of the many opportunities that may be right for you. If ongoing income is important, you’ll want to set that as a criterion for making the right choice. You may find that you can cover many of your everyday expenses, even with part-time work, so that you’re not solely dependent on your retirement nest egg for financial support.
This information is excerpted from “Getting Ready to Retire: Financial and Estate Considerations for Retiring Canadian Physicians.” A physician contemplating retirement has a myriad of details to tend to, both professionally and personally. Prudent financial, estate and legal planning can make a big difference, both in the short and long terms. If you’d like a printed version of this useful book mailed to you, call RSRS at 1-888-563-3732, Ext. 222 or get the free download now from http://www.recordsolutions.ca/guide. There is no cost associated with obtaining this information.