{ "media_type": "text", "post_content": "At what age do you plan on retiring? I’d like to work until I’m 63 or so, but it doesn’t seem like many in our industry last that long. Is there an unspoken push to get rid of 60+year old partners? If you left consulting around 60, would it even be possible to get a job in industry? Seems like we would be too expensive and too old to be considered by most companies.", "post_id": "6156bb9df5d15c002c4922db", "reply_count": 45, "vote_count": 4, "bowl_id": "5c133802e4f35d0012ad759f", "bowl_name": "Partners Only", "feed_type": "bowl" }
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At what age do you plan on retiring? I’d like to work until I’m 63 or so, but it doesn’t seem like many in our industry last that long. Is there an unspoken push to get rid of 60+year old partners? If you left consulting around 60, would it even be possible to get a job in industry? Seems like we would be too expensive and too old to be considered by most companies.

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Am 54 and being pushed hard to become emeritus partner and it’s certainly not due to performance. The 40 somethings want their day I guess. Financially it’s totally fine and I’m more than set, but I still feel so young and peers in other fields are all still working, so it just feels odd. Board opportunities would be ideal, but they never want consulting experience or non-diverse backgrounds, which I understand.

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So what are you thinking about doing? What in your mind constitutes being financially secure?

The bias against senior consultants on boards has always struck me as weird and irrational (not saying all sr consultants are a good fit, but many would be excellent at it.)

The society of actuaries, the people who build life expectancy projections for life insurance companies, have changed their tables. The CURRENT generation of seniors does live longer but the FUTURE generations will not. They have adjusted their averages down.

Folks in our industry typically have unhealthy lifestyles, even when they are physically in shape and our life expectancy is below the norm. It's the hidden stressors (long hours, travel, sleep loss, anxiety) that change our bodies at the molecular level and shorten our life spans.

Ask the folks running your partner benefits plans how long their life expectancy is for your generation. It used to be 71 for the average white male. That number for consultants is a bit lower.

We all think we are going to live to be 80 or 90. When's the last time you talked to someone that age? Most of them cannot get out of a chair.

Quit thinking about work and obsessing with the need to fill your time before you run out of it. Just some advice from a retiree. I read FB to remind me to focus on family and myself, not the job that used to define me. Gotta go take my meds now. Sigh

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EY2, our premiums are low compared to most companies.

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Mandatory retirement at 60 at my firm; as soon as I am vested in my pension and health care plan I am retiring, I will be 55 then. I will go teach at an underprivileged high school and coach soccer.

likeupliftingsmartfunny

You’re all insane. I’m out at 50.

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Kudos if you can retire at 50 and agree to keep yourself busy as you probably are used to being occupied. Also the life expectancy is a lot longer. What would you do for the next 30-40 years?

I’m in my early 40s but would plan to work till 55 perhaps 60 depending what happens or do contract work if I’m pushed out or retire early if I make close to $1m a year for the next 7-10 years.

Retire at 58 and then work at a beach bar or fishing boat in the Caribbean. No desire to deal with clients, metrics, P&Ls, etc.

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My firm doesn’t allow partners to work beyond 60. I’m planning to retire at 55.

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Pulled the plug at 56 to move to a “real job” in craft brewing. Even on a bad day I’m making beer

likesmart

Targeting to hit my FIRE target at 40. Then re-evaluate what I’d like to do at that point.

likehelpfulfunny

My plan is 55, then do something on my own for fun…maybe real estate

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Want to be able to at 50, we’ll see at that point whether I’m ready to or not

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I’m thinking 57-58. 53 now.

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I’ve already moved out on my own and I’m turning 40 in a few weeks. I’m probably clocking on avg 20-25 hours a week and intend to do so for many many years to come. What I got from consulting was a bit of capital and a great Rolodex of people who trust my judgment.

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Good question actually
Am 45 and don’t see myself retiring any time soon: 65+ sounds right.
When is the right time to jump to industry/ other ideas. Haven’t figured it out yet.

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My plan is to be out at 60. I can’t imagine being on the road and/or dealing with company politics beyond that. After that, I’m not willing to trade my time for $$$. I’d like to do some volunteer work, perhaps with veterans groups, but nothing that requires me to be somewhere at a particular time, to hit some metrics for someone.

smarthelpful

Shooting for going part-time / independent at 45 or so, then full retirement at 55 if all things pan out.

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Plan to get out between 50 to 55. Currently 3rd year md at 40. Got 10 to 12 years of slig left in me. At 50, both my kids hit college too. Fingers crossed.

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Planning for somewhere between 55 and 60.

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Firm has a mandatory retirement age of 60. Will likely go till 58.

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I was thinking about this as well. What can we do to stay occupied? Maybe I’ll start a podcast

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I went at 58 early retirement this year and now do 1099 work. Very fulfilling and I like not having a boss or metrics. I work my own hours, bill my clients. So if I want to spend the day with grandchildren or have lunch with my wife I can.

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