Date post: | 28-Dec-2015 |
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Working Life
• Intern & RMO W’Bool - 1975 & ’76
• SHO/ reg Northampton & QVMC -> ‘80
• GP Portland -> ’83
• S/reg neonatology and O&G, NETS and assistant to medical director, Mercy –>’88
• GP Tyabb -> May 2008 : “RetirementRetirement”.
Usual retirement model
Retire at 65: Work full time up to age 65, then suddenly stop !
Problems: - Unfair if ill health or death.- Sudden void (stress = loss of spouse).
=> GPs have an alternative ..
Early semi-retirementsemi-retirement
Start spending the kids inheritance
When: - you and your spouse still young and fit- no mortgage stress- no school fees
=> Can continue in semi-retirement past 65 .
Tax issues
Less work (1/3rd work)= lower tax rate (½ income)
Over 60, salary sacrifice 100% into super (taxed at 15%), and draw a “pension” from your fund (tax free).
Small Business Exemption from CGT (eg. on sale of freehold).
Work options in semi-retirement
Continue working in same general practice, but work less, eg. cut back to 2 days per week
Hospital A+E shifts Aged care from home (Dr Charlie Arter) Special interests: drug and alcohol rehab,
skin, travel medicine After hours GP co-operative (MediCentre) Civilian MO in the ADF (Cerberus) GP Division/ Network (board, subcommittees) GP locums – urban, overseas (Ireland), rural
Rural GP locums (Apollo Bay)
Mainly normal general practice + run small hospital
- acute medical in-patient care (4 beds)- emergency medicine- simple radiology
Don’t need to be “super-Doc”
Improved rural GP support
Ambulance officers and nurses better trained.
Phone support from ED consultants, NETS, PETS, ARV, and “hotlines”.
Mobile phone
Internet
Laptop computer – library of clinical support
The joys of rural GP locums
Delight of being needed and appreciated.
More organic pathology (“real medicine”), less social work and paperwork (“bullshit”).
No responsibility of running a business, employing others, partnership problems.
Travel and accommodation paid by employer -> cheap family holiday.
Well remunerated.
Rural GPs need you
Critical shortage of rural GPs
=> desperate need for locum relief
to prevent rural GP burnout.
Remedy
Multivitamin ?
Naturopath’s “detox” diet ?
Self-medication with EtOH ? … NO
=> Less work, more leisure time.
Key messages
Don’t leave it too late to enjoy life.
Avoid burnoutburnout.
Consider semi-retirement semi-retirement whilst still young, fit and able.