Many professionals, especially those who own all or part of their firm, find it difficult to think about retirement. In particular, those who practise their chosen profession into their sixties and seventies often worry that when they retire they will miss the challenge, excitement, companionship, mental stimulation and sense of fulfilment that their work provides. After all, to a great extent we are what we do, and winding down raises questions about self-esteem and one’s value to society. Moreover, professional life increasingly conditions us to place the interests of clients, customers and colleagues so far in front of our own interests that personal and family issues are sometimes neglected, creating additional challenges.
With these challenges in mind, the notion of “never doing today what can be done tomorrow” can be seductive. However, Partner Retirement in Law Firms is designed to help reduce procrastination and encourage proactive retirement planning. In this new Special Report edited by Ronnie Fox, expert contributors provide tips and guidance for navigating the difficult aspects of retirement in the broad context of career planning, including:
- the financial consequences of retirement;
- legal matters;
- day-to-day practicalities;
- accounting and tax;
- psychological considerations; and
- succession planning.
Partner Retirement in Law Firms provides a practical guide to finding the right path to retirement and is aimed at individual partners seeking to transition from professional to retired life seamlessly and with minimal stress. In addition, it makes an invaluable resource for law firm HR and career development teams.