A Surgeon Without a Pension: A Lifetime Passion at 68 Years Old

Retired Surgeon Continues Practice, Driven by Lifelong Commitment

Asti, Italy – Vincenzo Sorisio, 68, who concluded his tenure as head of the surgery department last year, demonstrates that retirement does not necessarily equate to cessation of work. He is currently maintaining an active role within the medical field, albeit at a considerably reduced pace.

A Continued Calling

“It is unachievable to unplug from evening to morning,” Sorisio stated.Although he no longer adheres to the rigorous demands of his former position within the ASL healthcare system, he remains committed to his profession, currently dedicating approximately one-tenth of the time he previously invested. The decision to continue practicing, he explains, stems from a deep-seated belief that a doctor’s commitment extends beyond a mere job.

“Deciding to be a doctor represents a lifelong commitment, both professionally and personally. I believe it is unfair to abruptly sever all ties,” sorisio added.

Beyond Financial Considerations

The ongoing practice isn’t motivated by financial necessity. Sorisio clarified that his current earnings closely mirror his prior salary, providing a comfortable livelihood. He emphasized that his decision is rooted in a different aspiration – the desire to utilize his accumulated knowledge and experience.

Sorisio embarked on his medical journey in 1976, enrolling in the Faculty of Medicine. After graduating in 1982, he established himself in Asti by 1985.He retired after 48 years of contributions, including credited years from his university studies. “I have accumulated extensive experience, and it feels wrong not to make it available to others,” he affirmed.

A Blend of Service and Expertise

His current work involves a combination of volunteer efforts and professional engagements. He actively volunteers with the Cardinal Massaia Foundation, contributing to the acquisition of crucial funds and equipment. Additionally, Sorisio offers specialist consultations at private clinics, performs surgeries in private facilities in Turin, provides services in nursing homes, and offers various consultancy services.

“As long as my health and enthusiasm permit,I will persist in my mission as a doctor,” he declared.

Did You Know? According to a recent survey by AARP, nearly 70% of retirees volunteer their time in some capacity, demonstrating a widespread desire to remain active and contribute to their communities.

Pro Tip: Consider exploring volunteer opportunities in your field of expertise during retirement to maintain engagement and share your valuable skills.

Milestone	Year
Enrolled in Faculty of Medicine	1976
Graduated from Medical School	1982
Began Practice in Asti	1985
Retired (Years of Contributions)	2024 (48 years)

What factors influence your vision of retirement? Do you believe it is essential to maintain professional connections after leaving a formal career?

The Rise of ‘Encore Careers’

Sorisio’s story exemplifies a growing trend known as “encore careers” – second acts often driven by passion and purpose rather than solely financial gain.As lifespans increase and conventional retirement models evolve, more individuals are choosing to remain engaged in meaningful work beyond the conventional retirement age. A Bureau of Labor Statistics article highlighted the increasing number of older americans finding fulfillment in new or continued professional pursuits.

Frequently Asked Questions About Retirement and Continued Work

Share your thoughts! How do you envision your ideal retirement? Leave a comment below and join the conversation.

What are the key factors contributing to the decline of customary pension plans for surgeons?

The Changing landscape of Surgical Careers & Retirement Planning

For decades, a career in surgery promised financial security, often including a comfortable pension. However, the shift towards employed positions, the decline of traditional defined-benefit pension plans, and increasing financial pressures meen many surgeons, even those with extensive experience, are facing retirement without the safety net of a guaranteed income. This is particularly true for surgeons nearing or past the traditional retirement age,like those at 68. Understanding this evolving reality is crucial for both current and aspiring surgical professionals.

Why Surgeons May Lack Pensions Today

Several factors contribute to the lack of pensions for many surgeons:

Shift from Private Practice to Employment: Historically, many surgeons were self-employed or partners in private practices, often with robust pension plans.Increasingly, surgeons are employed by hospitals or large healthcare systems, which frequently offer 401(k) plans or other defined-contribution plans instead of traditional pensions.

Decline of Defined-Benefit Plans: Defined-benefit plans (pensions) guarantee a specific monthly payment in retirement. These are becoming rarer across all industries, including healthcare, due to their cost and financial risk for employers.

Delayed Retirement: Many surgeons choose to work beyond the traditional retirement age of 65,sometimes out of financial necessity,a continued passion for the work,or a combination of both. This can further complicate pension eligibility.

financial Pressures on Healthcare Systems: Hospitals and healthcare systems face increasing financial strain, making it challenging to maintain expensive pension programs.

Portability issues: Surgeons who change employers multiple times throughout their careers may find it challenging to consolidate or transfer pension benefits.

Financial Implications for Surgeons Approaching Retirement

The absence of a pension can considerably impact a surgeon‘s financial security in retirement. Here’s a breakdown of potential challenges:

Increased Reliance on savings: Without a guaranteed income stream, surgeons must rely heavily on personal savings, investments, and Social Security.

longevity Risk: Living longer than anticipated can deplete savings faster than expected.

Healthcare Costs: Healthcare expenses tend to increase with age, adding another financial burden.

Inflation: The purchasing power of savings can erode over time due to inflation.

Market Volatility: investment returns are not guaranteed and can be affected by market fluctuations.

Choice Retirement Savings Strategies for Surgeons

Given the changing landscape, surgeons need to proactively plan for retirement. Here are some strategies:

Maximize 401(k) Contributions: Take full advantage of employer matching programs and contribute the maximum allowable amount each year.

consider a Solo 401(k): If self-employed, a Solo 401(k) allows for both employee and employer contributions, perhaps leading to higher savings.

roth IRA: A Roth IRA offers tax-free withdrawals in retirement, which can be favorable.

Taxable Investment Accounts: Supplement retirement accounts with taxable investment accounts for additional flexibility.

Real Estate Investments: Diversifying into real estate can provide a potential income stream and long-term appreciation.

Annuities: Consider purchasing an annuity to provide a guaranteed income stream in retirement. Caution: carefully evaluate annuity fees and terms.

Financial Advisor: Consulting with a qualified financial advisor specializing in physician retirement planning is highly recommended.

The Emotional and Psychological Aspects of Continuing to Practice

For many surgeons at 68, continuing to practice isn’t solely about finances. It’s often driven by a deep-seated passion for the profession.

Maintaining Purpose: Surgery can provide a strong sense of purpose and fulfillment.

Intellectual Stimulation: The challenges of surgery keep the mind sharp and engaged.

Patient Care: The ability to help patients and make a difference in their lives is a powerful motivator.

Social Connection: The surgical team and hospital environment provide social interaction.

However,it’s crucial to balance passion with self-care. Burnout, physical demands, and the emotional toll of surgery can be important, even for experienced surgeons.

Case Study: Dr. Eleanor Vance – A Dedicated Vascular Surgeon

Dr. Vance, a 68-year-old vascular surgeon, continued practicing for five years beyond the typical retirement age. She had a modest 401(k) but no pension. Her decision wasn’t driven by financial need, but by a genuine love for her work and a desire to mentor younger surgeons. she scaled back her hours gradually, transitioning from complex surgeries to more consultative roles. This allowed her to maintain her connection to the field while reducing the physical and emotional strain. She supplemented her income with occasional locum tenens assignments,providing flexibility and additional savings.

Benefits of Continued Surgical Practice (Even Without a Pension)

Continued Income: Even reduced hours can provide a valuable income stream.

mental Stimulation: Keeps the mind active and engaged.

Social Interaction: Maintains connections with colleagues and patients.

Mentorship Opportunities: Allows for the sharing of knowledge and experience with the next generation of surgeons.

Personal Fulfillment: Provides a sense of purpose and satisfaction.