The Community Pharmacist Blog

Pharmacy shelves_blurred_wide

New Beginnings: Developing A Clear Vision For Your Future After Pharmacy

Posted by Rick Coakley on Wed, May 16, 2018 @ 09:14 AM


 

TransitionsRx Logo_RGB.png

A WaypointRx Company 


When you think about your life after pharmacy – what does it look like? Will you be on a beach, or hiking in the mountains? Will you be spending your time volunteering or working on your newly developed hobbies? When was the last time you sat down and really gave some thought to your life once you leave the pharmacy?

 

thinking pharmacistWe’ve all daydreamed about our retirement at some point or another, but when it comes down to it, very few of us have actually drawn out a plan of what we want to do, and what it will take to get us there. Luckily, this process isn’t difficult, it simply takes time – so let’s get started.

 

Step 1: Write down your bucket list

No matter your age, you need to have a bucket list. What are all of the things you want to do/accomplish within your lifetime? Write them all down. There is no wrong answer or one that is too unrealistic. These are your dreams and aspirations and the first step to achieving them is to write them down.

 

Step 2: Write down what in your life will need to change to accomplish these things

Each of our situations is unique, but to give some examples, below are the more common things we hear from clients that they need in order to achieve their goals.

 

TIME: 98% of the people we talk to, who are looking to achieve their goals, say the biggest thing they need is time. This is WRONG. We all get the same 24 hours in every single day – what they need isn’t more time, it’s a way to better spend their time. For example; if you spend 3 hours each day on menial tasks – get some of that time back by delegating those tasks to others – BOOM that’s automatically 3,653 more hours every year! I realize it isn’t always so easy – so I recommend utilizing our Time Optimizer Tool to help you figure out how to re-evaluate and re-prioritize your time.

 

MONEY: The quickest and easiest way to get more money, is to develop a budget and STICK WITH IT! Budgets are needed throughout your life – especially when you make the switch from income generator to income spender. When you are younger, it is easier to budget because you have a limited income, and are more conscientious of where all your money goes. Once you have more disposable income, you are less likely to know what you spend each month let alone set a budget. So it is important to remember the importance of budgeting throughout your life.

The mentality that normally accompanies the word “budget” is one that believes you are never going to do anything fun again - which simply isn’t true. When you have a budget, you can actually do more fun things because you know where the money is coming from and are more prepared to pay for everything you want to do. Additionally, make it a priority to pay off any debt first – by dong so you can save even more.

 

Step 3: Develop a plan

Prioritize your bucket list and start crossing items off! What are the easiest things you can start today? Make a serious effort to change your lifestyle so that you can achieve everything you set out to. Life is too short to wait until you have the time or money you think you will need. Make the time, save the money needed and go live your life! It’s also important to remember to come back to your list every year or two for updates, changes, and a renewed sense of motivation and accomplishment.

 

If you are ready to start planning your new beginning – your life after pharmacy – click the button below and talk with one of our advisors to put you on the path to being mentally, emotionally, and financially ready for that next big step.

 

Contact TransitionsRx

 

Additionally, before you start the process of leaving your pharmacy, we recommend you review our Letting Go Checklist to make sure you are not only financially, but mentally and emotionally ready to begin your life after pharmacy.  Click here to download the checklist.

 


At TransitionsRx (a WaypointRx company), it is our mission to ensure you enjoy the greatest possible personal, ownership, and financial success. As champions of independent pharmacy ownership across America, we have amassed a tremendous amount of experience along with the most comprehensive toolbox of resources and solutions you can imagine. Our Inspired Independence Program has helped hundreds of pharmacy owners take full advantage of all their opportunities inside, outside and after their life in pharmacy.

 

Topics: life after pharmacy, retirement plans, bucket list, Blog