Focus on Physicians:
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Retirement Planning for Physicians: Meet Your Future Self
No matter where you are in your professional arc, the “future self” exercise is a powerful tool for envisioning and then creating a meaningful retirement. In this article, we’ll explore how you can use this exercise to develop and align your retirement plans with your personal values, dreams, and aspirations.
An earlier version of this article appeared on this website in December 2024
For many physicians, the idea of retirement may feel distant, daunting, or even unattainable. Although physicians on average are exiting the profession nearly a decade earlier than in years past, it’s not surprising that the thought of leaving may still seem frankly overwhelming.
After so many years of dedicating your life to others’ health and well-being, what does a fulfilling retirement look like for you?
The truth is that retirement is different for each of us. Some people happily move out of the profession and take a new path, never looking back. Others repurpose some of the skills they’ve acquired and dedicate that to teaching, mentoring, volunteering, or creative work.
Yet many physicians mourn the life they’ve given up, struggling deeply with the loss of identity, structure, and purpose that can come with leaving clinical life behind.
No matter where you are in your professional arc, the “future self” exercise is a powerful tool for envisioning and creating a meaningful retirement. In this article, we’ll explore how you can use this exercise to develop and align your retirement plans with your personal values, dreams, and aspirations.
Planning for Retirement with the Future Self Exercise
It can be difficult to imagine yourself many years into the future. Instead, a one-to-five-year time line might feel more tangible. That’s partly because needs, priorities, and dreams often change over time. If you think back to the person you were ten years ago, it’s possible that version of you feels very different from your current self.
Research on the “future self” confirms that we often perceive this unknown version as an “other.” And yet, thinking about your future self as someone you care about can foster a sense of compassion, responsibility, and intentionality.
If you’re contemplating retirement, the future you may already feel a bit more knowable. And in this context, the future self exercise can be especially useful and actionable.
This exercise can help you design your goals both by creating self-awareness and clarity, but also through aligning your current actions with your long-term hopes and dreams. You can’t control the future, but you can take ownership of your direction during this major life transition.
Your Step-by-Step Guide to the Future Self Exercise
Step 1: Set the Stage
Choose a quiet, comfortable space where you can reflect without interruption.
Have a journal or notepad ready so you can capture your thoughts as they arise.
Step 2: Imagine your ideal retirement.
Close your eyes and picture yourself 1-5 years into retirement.
Questions to consider:
What does your day look like?
Where are you living?
Who are you spending time with?
What activities bring you joy, energy, or fulfillment?
Step 3: Consider your impact
Staying with the image of your future self, ask:
What am I proud of accomplishing since retiring?
How am I continuing to make a difference or live meaningfully?
What feels most satisfying about this phase of life?
Step 4: Identify values and priorities
Still holding the future in your mind’s eye, reflect on:
What matters most to me in this phase of life?
What are the values I hope to embody?
How do I want to feel in my daily life?
What do I want more of—and what am I ready to release?
Step 5: Nurture relationships and connections
Sitting with your future self, consider:
Who are the friends, family members, colleagues, or communities I care about?
What relationships do I want to develop or deepen?
How am I creating a life that keeps me connected and supported?
Step 6: Carry your strengths forward
Ask yourself:
What strengths and skills from my life as a physician do I use in this next phase of life?
How might I use those strengths in new or meaningful ways?
Howwill I continue to learn, grow, and stay engaged?
Step 7: Write a letter to your future self
It can be helpful to write a letter to your future self, describing your hopes, goals, and dreams for this next chapter.
Seal it and set a date to read it in the future. Create a reminder on your phone or calendar so you don’t forget. This simple act can help you stay connected to the life you are beginning to imagine and create.
Translating Your Vision into Action
Once you’ve completed the process, take a look at what you’ve written. Highlight any recurring themes, patterns, or ideas that stand out. Then begin to identify actionable goals that can help you move toward the retirement you want to live. Here are some ideas to get you started:
🎯 Financial goals: You may want to enlist a trusted advisor to help you clarify and refine your financial goals. Having a thoughtful plan can help you enjoy retirement with less worry about money, savings, or long-term security.
🎯 Lifestyle goals: Begin to define your ideal balance between relaxation, hobbies, health, creativity, and productivity. Physicians often overlook their own well-being when life gets busy, but the pre-retirement years are an important time to make your health a priority so you can fully enjoy the next phase when it arrives.
🎯 Relationship goals: Consider who you want to share your time with, and in what ways. It’s never too soon to strengthen relationships and cultivate friendships, even if that starts with a brief text, phone call, coffee invitation, or email to keep the lines of communication open.
🎯 Legacy goals: Explore ways to contribute to your community or profession. This might include teaching, mentoring, volunteering, writing, advocacy, creative work, or something entirely different. You don’t need to make a commitment before you’re ready, but this can be a good time to explore areas of interest you may not have had time for during your working life.
It’s Never Too Soon to Start
Although your goals and plans may change over time, the Future Self exercise can be a powerful way to strengthen your vision and jump-start your planning. It’s never too early to begin taking small steps now to integrate elements of your future self into your current life.
When your life and identity have been shaped by your profession, it’s natural to feel overwhelmed and unmoored by the decision to retire. But retirement can also be an opportunity to redesign your life in a way that aligns with your values, passions, relationships, and aspirations. The Future Self exercise offers a practical and meaningful way to gain clarity and begin shaping this next chapter with intention.
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