Life after medical practice. A retirement profile of Minnesota physicians.

This study investigates the current dynamics of physician retirement in Minnesota. A survey of all retired Minnesota physicians (878, with 65.7% response rate) revealed that 73% retired in their 60s, 22% at age 65. Good health was reported by 69% of the respondents, and fair health by 26%. Income was sufficient in most cases; 64% of respondents reported living comfortably, and only 14% said their incomes are barely adequate. The study also showed that retired physicians consider nonmedical activities much more important than medical activities; heading the list were visiting family (86%), reading (79%), and travel (63%). Finally, 35% of respondents found retirement to be better than they had expected, 54% found it about as expected, and only 9% felt retirement was not as good as expected. In retirement, Minnesota physicians are generally healthy, have sufficient funds to live comfortably, and generally spend their time doing nonmedical activities.