You know it’s about time you stopped treating patients, yet you feel like you still have a lot left to give before officially retiring.

Or maybe the stress and speed of life as a medical professional is too much.

Perhaps the life of a doctor hasn’t shaped up to be all that you’d hope.

Whatever the case, you’re ready for a change.

It’s time to take off the white coat and investigate some other refreshing new career choices that will put your medical degree and experience to good use.

Educate the Next Generation

Contact universities in your area to find out about teaching positions that you may be able to fill. You might enjoy the quieter pace of teaching at medical school as opposed to the hectic lifestyle of practice in a clinic. Sharing what you’ve learned in your years of practice is a good way to keep your spirits up and feel like you’re still making a difference in the world of medicine even when you’re no longer practicing.

Volunteer

Volunteering is an excellent way to put your skills to meaningful use. You can choose to service the medical needs of the underserved in your own community or you may opt to go bush by traveling the world to treat patients in foreign lands. Volunteering could give you a sense of fulfilment that you never discovered while working hard for your salary. Plus, you only have to give as much of your time and energy as you want to when you volunteer.

Practice Virtual Medicine

Virtual medicine is becoming a more vital skill in this day and age, especially in the event of outbreaks such as the recent coronavirus. In such dire cases, medical professionals become rare commodities that society cannot afford to lose. Being able to manage patient treatment remotely lowers the risk of infection for those valuable individuals who must remain healthy to keep up the fight.

Become a Medical Consultant

You could become a key consultant for a pharmaceutical enterprise or a legal department. This is an alternative from the hustle of a busy clinic that could allow you to set your own schedule and even work remotely.

Write

Many doctors experience the pride and joy of publishing their own book at some point during or after their years of professional practice. If you think writing a book is too daunting of a task, then you might consider maintaining a blog or contributing editorial pieces to medical publications. You could even become a freelance medical writer for other medical professionals.

Start Up a Business

Your professional development doesn’t have to stop when you leave private practice. Why not unleash your inner entrepreneur and try setting up something completely new? Your medical expertise and education will come in handy if you decide to start up a company in the health tech sector. There’s also a lot of money to be made in this space.

Get advice

You truly do have many options to consider if you find that you’re no longer a match for the rigours of treating patients.

But pivoting your medical career down a new path takes time, money and careful planning, to ensure that you stay on track with your wealth plans.

Contact Nitschke Nancarrow, specialists in accounting, financial planning, investment and finance, investment and business for medical professionals. We operate in Adelaide, Sydney, Melbourne and throughout Australia. Managing partner Kym Nitschke is available for a free initial discussion about your situation. Call us on (08) 8379 9950 or send me an email.

– Kym Nitschke

The information contained on this web site is general in nature and does not take into account your personal situation. You should consider whether the information is appropriate to your needs, and where appropriate, seek professional advice from a financial adviser.

Taxation, legal and other matters referred to on this website are of a general nature only and are based on Nitschke Nancarrow’s interpretation of laws existing at the time and should not be relied upon in place of appropriate professional advice. Those laws may change from time to time.

Nitschke Nancarrow specialises in accounting, tax and financial advice for superannuation. Contact us now for a no obligations discussion about your needs.

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