How to Master Your Career Transition

Aug 04, 2023

Grizzly Situational Awareness - 2011

Brooks River

Katmai National Park, AK 

Practical Considerations

When the time comes that you begin to seriously consider ending your career, you will find yourself thinking about a variety of personal and professional concerns as well as matters related to your practice.

The myriad of issues that you will have to address will vary significantly according to your type of practice. Nevertheless, across the spectrum of practice types, there are some common matters, duties, and tasks that must be accomplished. 

In order to do so, you will need more than just knowledge about the known and unknown you will encounter throughout this process. You will need and greatly benefit from applying a method for planning and executing a successful end of career transition.

My  Insights Into the Model

In this article, I discuss a triad of plans that comprise my methodology with an emphasis on the sequence in which the various tasks are best accomplished. This is based on a solo practitioner model, which has the broadest application to various types of practices and can be applied at your discretion.

It is often the case that physicians tend to concern themselves primarily with the practical aspects of their practice…and that certainly is necessary at some point, preferably sooner than later. However, they do so at the expense of not focusing sufficiently of their personal and professional preparation first.

Many of the decisions that you will have to make depend on your having clarity and conviction about how this significant event will affect you and your loved ones for the rest of your life. There are a number of important decisions for which you will not be prepared and thus be reluctant to make unless you have prepared yourself personally and professionally.

In summary, you will be best served by preparing yourself first and then your practice. How?

The Methodology

This approach takes into account your personal and professional needs. It also includes the critical as well as the more nuanced demands of a particular practice scenario. To do so, three distinct, yet complementary plans are developed to address the various needs in a logical, practical sequence. They are:

The Post Career Lifestyle Plan TM

The Post Career Financial Plan TM 

The End of Career Transition Plan TM

The following are descriptions of these plans with a few examples of each.

The Post Career Lifestyle Plan TM

This is the first step on your journey of renewal and fulfillment, which is a major goal of your transition.

Your Post Career Lifestyle Plan serves two major purposes. One is that it provides the framework for how your will live a balanced, ideal life. The second, is to provide the basis for determining whether your new lifestyle can be supported by your financial resources. Examples:

  • Confidential deliberation with your spouse
  • Determination of why you are proceeding with transition, or not
  • Consideration of a gradual transition
  • Description of how and where you want to live

The Post Career Financial Plan TM  

This second evaluation is different from your retirement plan that comprises your financial resources. Its purpose is to determine whether your retirement plan assets will support your lifestyle plan. If it does, it allows you to proceed with confidence. If it does not, you can re-evaluate both plans and make adjustments to one or both. Examples:

  • Meet with spouse and financial planner
  • Prioritize your lifestyle choices 
  • Assess the cost of choices, eg, residency, housing, travel, etc.
  • Consider alternative choices
  • Does your retirement plan assets support your desired lifestyle?
  • Do you need to adjust your lifestyle, finances or both?

The End of Career Transition Plan TM

This is a custom blueprint that serves as a guide as you undertake the process of ending your career and arrive at the actual end date.

It includes detailed policies and procedures that outline how and when you will actually initiate and end your End of Career Transition. Examples:

  • Determination of the projected end date with your spouse
  • When to notify staff
  • Definition of your role as leader and manager of the transition
  • Preparation of the plan: policies, procedures, checklists
  • Execution of plan: early preparation, staged approach

How Does This Triad of Plans Benefit You? 

The creation of your end of career triad of plans will be incredibly valuable to you. Without them you may experience inordinate stress and preoccupation long before your end date. The design and execution of your customized plans will help you create an orderly transition that minimizes disruptions in the care of your patients.

An important benefit of this approach, is that you can move forward on your path confidently, with a feeling of pride knowing that once again, you have succeeded on your terms.

Updated: August 4, 2023

PS: By the way, do you want to learn more from me about how to create a positive End of Career Transition and a fulfilling life beyond? I would like to help you. I provide consulting and coaching services that are tailored to your specific needs. Click here to request an introductory conversation.

Sockeye Salmon Path and Goal - 2012

Russian River

Kenai Peninsula, AK

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