Your End of Career - Personal Preparations

Autumn Splendor - 2017

Sierra Nevada, NV

You Come First

The impending end of your career comes with a blend of thoughts and feelings that vary widely. They reflect the temperament, personalities and circumstances of those of you that are anticipating your transition or actually going through it.

Pondering and Planning

I know that the thinking that is applied to planning in a timely manner can range from minimal to substantial and proactive. In the case of the former, the results are all too often a much less favorable outcome than what could have been. In the latter instance, they are described by success.  Either way, at some point, the results become evident.

The feelings that you will likely experience can also vary widely: from joy of anticipation to downright dread. It is often that the former is experienced by of those of you who plan proactively, whereas the latter is more likely the outcome for those who do not.

In my previous article I discussed “The Big Picture.” That is, the major steps that are essential to a successful outcome, particularly if you’re in a solo private practice. Many of these concepts apply to other types of practice as well.

Your Benefits

Proactive, deliberate planning to achieve specific goals is the key to your success. The first step that you will benefit from taking is to prepare yourself, your spouse and your family. That is the focus of this article.

In addition to numerous personal benefits, the process of achieving a clear vision of what you want will facilitate the answers to other future questions. These are about professional and practice matters that you will need to address. Without clarity, they can become obstacles that obstruct your progress.

Besides matters of internal, external identity and persona that I have previously discussed, these are some practical ideas for you to consider.

Practical, Personal Questions

• Why do you want to electively end your career?
• Do you want to stop practicing completely or gradually?
• Do you want to execute a succession plan and mentor an associate?
• Do you want to close your practice?
• Are you prepared financially to end your career?
• What will you do afterwards?
• Have you identified other activities that will continue to fulfill your purpose in life?
• Have you identified other activities that will fulfill your desire for fun?
• How do you foresee achieving a balance between you needs and desires?
• Where will you live? Second home? Buy, lease?
• If you live elsewhere close to Nature, what about weather, access to travel, medical care, etc?
• Where is that place on earth where you consistently feel in “the moment” just by being there?
• What does your spouse want?
• What about your family’s needs?

Many of these questions and related answers are elements of the Post Career Lifestyle Plan that I have previously discussed.

This is the first of three plans that you should prepare as you plan and execute your End of Career Transition. 

A Certain Beauty 

It’s very difficult if not impossible to predict the future, especially if you haven’t been an active participant in shaping it. It’s a beautiful thing to live the life you will have envisioned and created by purposeful, proactive planning.

 Plan. Prepare. Prosper. _TM

PS: Would you like to learn more about how to prepare yourself and your practice for the End of Career Transition? You may be in solo practice and wish to carry out a succession or outright sale; perhaps you are in group practice or are otherwise employed. I provide consulting/coaching services that are tailored to your specific needs. Click here to request a complimentary introductory conversation.

Preparing to Rise - 2005

Gulf of Mexico, FL