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I'm sixty-one now. I made a decision about eighteen months ago that I would retire sometime between age 62 and 64 from my law practice.
A younger lawyer that I am gradually training will take over my practice. He will pay me something, but not much. The idea really always was that I needed to find the right person. I wanted someone with the right combination of brains, communication skills, integrity, and humility. It wasn't easy, but I think I have found that person. At some point in the near future, it will be me that is superfluous and no longer necessary. That is the point I think I will leave.
Fortunately, from a financial end my wife and I are in good shape. Purchasing our retirement home eleven years ago when I had some spare cash appears to have been the right decision. Our main home--the one I will sell-- is paid off and appears to be worth substantial money. When I add that to what we have in investments and to my wife's retirement.....well....let's just say we have enough to be comfortable. Enough to travel a bit (if coronavirus ever goes away) and help our two children out.
My biggest issue is a psychological one. The idea of quitting after thirty-seven years practicing law is wearing on me. The reality is that my job has always given me a great amount of satisfaction. I enjoy knowing that I have solved problems for many clients over the years. I probably will volunteer a bit with the legal services agency where I am going. Not a lot of hours, nothing heavy duty, but enough to do some good for those people. I never imagined I would look at retirement with such a heavy heart. At one time I anticipated practicing until I was seventy. Some personal and financial reasons intervened though and I realize it makes sense for me to leave before age seventy.
I attribute much of my success in life to a combination of education, being in the right place at the right time, hard work, and just plain luck. I feel a desire to want to give more back. I would like to see more people in this country end up where my wife and I did.
Several people here have given me pointers and ideas during the 10-11 years I have posted on this forum and I want to thank them for their help.
Well, you don't have to make a binary decision to keep working 40 hours a week, or retire completely. I see several law firms around locally with "emeritus" people listed as members, you could work a very light schedule, or just be available to consult, anymore you can use Skype or similar, you don't have to be in the same room with the "new guy".
In any case, I hope retirement treats you well. Hope you will keep posting on here in retirement as well, although you may have better things to do much of the time.
I am in exactly the same situation. Retiring in May at 61. I have derived a great deal of satisfaction from my job and am concerned about missing this part of my life. But there is a time and season for all things and I think that time has come..
Many folks, especially men, seem to find who they are and what they do as inseparable. You are a lawyer. When you cease to practice law, who (or what) are you (other than retired lawyer)? When you can answer that you will be more comfortable with the idea of retirement.
I was once in some or other personal development course offered at work where they had us write a list of who/what we are. The women's lists usually started off with mom, wife, daughter, then blah-blah specialist, coworker, best friend, PTA volunteer, caregiver, quilter, etc. The guys' lists mostly started with blah-blah deputy manager, assistant kids' soccer coach, husband, dad, and then they pretty much ran out of stuff. It was revealing to me that the men had almost nothing to say about their own life beyond their work, despite working no more hours than the women. It seemed like they had no knowledge of themselves or what interests they had beyond their field of work. When you can say who or what you are without the first word being lawyer, then you are ready to retire.
We get a lot of guys on here who retire and then "get bored" after 6 months and un-retire.I think they don't have a network of other retired people with whom to socialize or engage in activities. I hope you have ideas for activities or interests to keep you engaged mentally and socially.
First, you have to define what retirement means to you. Does it mean leaving the practice of law altogether? Does it mean only taking cases in which you have an interest? Does it mean using your legal training for people who wouldn't be able to have good representation otherwise?
Next, separate from your role as lawyer, how do you see yourself in the future? How do you see yourself as your wife's partner in retirement? Are you both excited at the prospect of spending more time together? Do you both have major items on your unfulfilled "bucket list?"
Finally, after you've gotten a good picture of what retired markg91359 wants and what excites him and his wife, your job is to develop a plan to make it happen. There will probably be several false starts. After all, this is all new to you, but don't let that discourage you.
After a while, our bodies betray us and we slow down or are unable to perform at the same level as when we were younger. Perfectly normal. Do the physically challenging projects first.
And keep the legal mind sharp. That's a valuable asset that you can share, even if the body is slower. Remember, those NY Times crossword puzzles won't solve themselves.
My husband and I retired in our mid 50's and have loved every minute of our retirement from our corporate jobs. We enjoyed our jobs, but that was only part of who we were. We have travelled and seen unbelievable sights. We have enjoyed being with each other. We were best friends until his sudden death. Don't waste a minute.
Over a year before my retirement date I foresaw that I would be in the same situation as you, I loved my career and excelled at it. Knowing retirement is nearly unavoidable, I started looking for other activities I felt would be a good fit for me in retirement.
I volunteer as a Docent at a local, yet internationally famous, outdoor museum. Multiple training classes necessary for this.
I volunteer on the Construction Board of Appeals for our local government. This is similar to my 41 year career.
I volunteer at our local Library, or did until closure due to Covid.
I am building/restoring a 1964 Formula Car.
I have become a member of several Car Clubs.
Identify several things you would like to do; civic oriented, career oriented, long term hobby oriented, crazy dreams, etc., then pursue those. The goal in retirement should be to spend time doing what you like rather than what you must.
Congratulations for realizing this future vacuum early so that you can find YOUR pleasurable replacements for work!
I retired in April at 64. I'm flabbergasted that I have not really once thought that I shouldn't have done it It's been a beautiful summer and I have been incredibly relaxed and grateful to be able to do exactly what I want and not have to answer to anyone. I guess I've never known - or felt I knew -exactly what that meant. I've had plenty to do if I chose....and can chill if that's what I want.
I vowed to give myself a full year off before I even remotely consider if I would 'do anything else,' but if this keeps up, that answer is gonna be NO.
I'm sixty-one now. I made a decision about eighteen months ago that I would retire sometime between age 62 and 64 from my law practice.
A younger lawyer that I am gradually training will take over my practice. He will pay me something, but not much. The idea really always was that I needed to find the right person. I wanted someone with the right combination of brains, communication skills, integrity, and humility. It wasn't easy, but I think I have found that person. At some point in the near future, it will be me that is superfluous and no longer necessary. That is the point I think I will leave.
Fortunately, from a financial end my wife and I are in good shape. Purchasing our retirement home eleven years ago when I had some spare cash appears to have been the right decision. Our main home--the one I will sell-- is paid off and appears to be worth substantial money. When I add that to what we have in investments and to my wife's retirement.....well....let's just say we have enough to be comfortable. Enough to travel a bit (if coronavirus ever goes away) and help our two children out.
My biggest issue is a psychological one. The idea of quitting after thirty-seven years practicing law is wearing on me. The reality is that my job has always given me a great amount of satisfaction. I enjoy knowing that I have solved problems for many clients over the years. I probably will volunteer a bit with the legal services agency where I am going. Not a lot of hours, nothing heavy duty, but enough to do some good for those people. I never imagined I would look at retirement with such a heavy heart. At one time I anticipated practicing until I was seventy. Some personal and financial reasons intervened though and I realize it makes sense for me to leave before age seventy.
I attribute much of my success in life to a combination of education, being in the right place at the right time, hard work, and just plain luck. I feel a desire to want to give more back. I would like to see more people in this country end up where my wife and I did.
Several people here have given me pointers and ideas during the 10-11 years I have posted on this forum and I want to thank them for their help.
Markg91359 -
Wishing you the very best in your retirement!
If you stay in the general SL area - would love to meet once we get past the pandemic. Have always enjoyed your thoughtful contributions across a variety of topics and hope for more of the same.
I'm 67 and having trouble walking away also after working so hard to build it up over the years. My goal is to pretty much do so by this time next year. Been winding it down over the last 2-3 years.
We are about to have my 50th HS Reunion next May.. They are putting a list together of all the people who have passed. That is an eye opener of all the old friends who did not make it to even age 60.
Something I noticed within a few years in my department at work was the way different people reacted to retirement. I hadn’t really thought about it that much until about the third close colleague was getting ready to call it quits. The previous two seemed almost giddy with anticipation, but this one frowned all day long for the last three months. Everyone has their own way of dealing with life transitions, and this is certainly one of them. Personally, I can barely wait. I think MI-Roger above has the right idea. So much to do and see out there.
Congratulations, OP!
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It's been a beautiful summer and I have been incredibly relaxed and grateful to be able to do exactly what I want and not have to answer to anyone. I guess I've never known - or felt I knew -exactly what that meant. I've had plenty to do if I chose....and can chill if that's what I want. 
