129 How To Get Ready for Retirement After a Career in Pediatrics

Drs. Rogu and Bravo discussed physician retirement planning with Jesse Hackell and Ron Paprocki, JD CFP. Although centered on pediatrics, the discussion is translatable across any medical career. The conversation covers the importance of strategic financial planning from the beginning of one's career to the significance of having a life outside the examination room and considering potential life changes that can affect retirement plans. Jess shares his experiences as a retired pediatrician, explaining the four stages of retirement. Ron Paprocki emphasizes the need to start planning early, leveraging time, developing good money management habits, and preparing for unexpected events that can significantly impact financial security.

00:00 Introduction and Guest Presentation

01:51 The Importance of Early Retirement Planning

02:32 Exploring the Concept of Retirement

05:32 The Role of Financial Planning in Retirement

08:08 The Impact of Location and Partnership Agreements on Retirement

16:28 The Importance of Personal Interests and Hobbies in Retirement

20:55 The Role of Succession Planning in Retirement

33:54 The Impact of Private Equity on Retirement Planning

35:31 Understanding Different Perspectives on Retirement

35:53 The Impact of Private Equity on Retiring Physicians

38:54 The Reality of Private Equity Deals

41:36 The Shift in Practice Management and Its Consequences

43:00 The Challenges Faced by Younger Physicians

44:40 The Importance of Cultivating a Life Outside the Exam Room

50:05 The Four Stages of Retirement

53:49 Financial Planning for Retirement

57:03 The Importance of Early Planning and Insurance

01:03:01 The Value of Time and Life Beyond Medicine

01:03:18 Closing Thoughts and Appreciation