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Good Advice for Lawyers Considering Retirement

Posted by Daniel Roberts | Oct 16, 2020 | 0 Comments

In yesterday's New York Times there was an article about retirement, a subject most relevant to the many "Baby Boomer" attorneys in the U.S.The article is an interview with Ken Dychtwald, who has been studying retirement for over 40 years. Here is a link to the article.

He points out that "retirement" has changed, it is getting longer, and instead of winding down at 65 many people are now reinventing themselves; starting businesses, creating nonprofits, going back to school. He calls this time the third age.

The first age is up to 30, growing up, finding a partner, school, and learning about life. The second age is 30 to 60 where we build a career and a family. The third age is 60 to 90 and is about reinventing yourself. With increased lifespans we have much more time to grow, learn, try new things, and perhaps discover a new purpose.

Ken points out the importance of connection, not allowing isolation in one's life-and this is so important! Also, the necessity to make wise decisions about finances. remain current with what is happening in the world, and connect with people of different ages.

Lawyers have advantages when it comes to retirement. For the most part, we can work as long as we want-no mandatory retirement. Finances permitting, many lawyers are free to retire but often they don't know what they would do or how to go about making the change. Staying with a law practice is the default option but may not be the best choice. There are so many possibilities!

I encourage my fellow attorneys to be proactive and put in the effort to design and transition into their third age. I have worked with a number of lawyers to do just that. There are many resources you can tap to learn about how to transition into the third age. There is also some information about and ideas for lawyer retirement on my website that might be helpful.

The decisions you make for the transition to post-law life and how well you execute them can make all of the difference in the happiness and satisfaction you experience.

Have a wonderful "retirement/third stage of life!

Daniel Roberts

Professional Lawyer Coach

www.coachingforlawyers.com

About the Author

Daniel Roberts

 Law Background I graduated from the University of Houston, Bates College of Law in 1972 and practiced law in Houston from 1973 through 1997. I have experienced the practice of law as an associate, solo practitioner and law firm partner. Initially I was a generalist and handled whatever cases ...

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