Q: How do I know when it’s time to retire?

Q: How do I know when it’s time to retire?

A: It’s very common that many a lawyer, who often has built an identity around being one, will have challenges about if and when to retire. Financial decisions aside, contemplating retirement can take on psychological ramifications that elongate the decision past the optimal point in time. 

If you have concerns about whether you would enjoy retirement or how you would fill your time, remember that it’s often possible to semi-retire and see how it goes. If you can plan several activities, from spending more time with family or volunteering for a cause you care about or even transitioning into an “encore career”…you may notice your thoughts shifting from hesitation to enthusiasm about retiring.  

Rather than ruminating about the perfect or right time to retire, it’s best to get ahead of the decision so that it will be yours to make on terms you define to take you forward. It’s true that some lawyers work for as long as they physically and mentally can, some need time to adapt and ease into retirement, and some even decide to unretire. That said, most lawyers not only find they enjoy having retired but end up wondering why it took them so long. 

It may not yet be time to retire, but it’s always time to research your options, talk with other lawyers who have done it, and remember that we’re fortunate if we have work we enjoy and can also make a life beyond it.