On the same path to retirement?

Do you and your partner have the same outlook on retirement? Dr Benjamin Holdsworth reveals the conversations you should be having now.

Many doctors have different ideas about what their dream retirement will look like. 

For some, the chance to kick back completely or kick off something new cannot come soon enough. 

Others will prefer to continue in their vocation in some capacity for as long as possible. What makes the chances of achieving your ideal scenario more likely is communication with the person sharing the process. 

In my December-January article in Independent Practitioner Today, we discussed how conversations with your children can ease inheritance planning. In the same way, talking to your partner about your objectives for later life can make the transition into retirement far easier. 

Those who avoid planning ahead may find significant differences in expectations when the time comes. You may want to the travel the world, but your partner would prefer to care for grandchildren. 

Your partner might take a conservative approach to spending, while you choose to splash out on a one-off extravagance. You intend to continue in practice while they choose to stop receiving any salary. 

Communicating your wishes in good time can save problems escalating as retirement looms. 

Here are a few questions you may wish to discuss: