How to Retire as a Lawyer and Live Your Best Life
Retirement is a concept many lawyers struggle to embrace. For those in a profession defined by long hours, high stress, and relentless deadlines, transitioning to a slower pace can feel both foreign and daunting. But as Murray Gottheil, a happily retired lawyer, shared on Legal Content Chat, retirement can be the most fulfilling chapter of life—if approached thoughtfully.
Here are some insights from Murray’s journey, designed to help lawyers navigate the road to retirement with confidence and clarity.
Defining Retirement: Doing Exactly What You Want
Murray’s personal definition of retirement is simple: it’s about doing exactly what you want. For him, that meant moving to the countryside, driving a pickup truck, spending time in nature, and embracing a slower, more intentional life. His activities include walking in the woods, canoeing, mentoring, and the occasional teaching and speaking engagements.
“Retirement is when you’re doing exactly what you want to be doing.”
The transition wasn’t instant. Years of high-stress law practice left a residual impact, which Murray jokingly refers to as “post-traumatic professional syndrome.” But by focusing on his passions and letting go of the lawyer identity, he’s crafted a life that truly makes him happy.
Start Planning Long Before Retirement
Many lawyers spend their careers with their heads down, focused solely on work, only to find themselves lost when it’s time to retire. Murray’s advice? Start planning early. And no, it’s not just about finances. While financial planning is crucial, equally important are:
- Building Community: Maintain friendships outside of work. Once you retire, those office friendships might fade, leaving you feeling isolated.
- Strengthening Relationships: Retirement often means spending more time with your significant other. Make sure those bonds are strong.
- Developing Hobbies: Retirement should be about exploring passions. Without hobbies or interests, retirement can quickly become monotonous.
“If you don’t have a picture of what you want to be doing the day after you retire, it can be lonely.”
Signs It’s Time to Retire
How do you know when you’re ready to retire? According to Murray, it’s a mix of emotional and physical cues:
- You wake up and realize you don’t want to do this anymore.
- Stress feels more overwhelming than rewarding.
- Your body isn’t as resilient to the demands of the job.
For some, retirement is an exciting prospect. For others, it’s filled with fear—fear of losing purpose, identity, or the structure that work provides. Murray’s advice? Embrace flexibility and focus on the opportunities retirement offers.
Avoiding Burnout Before Retirement
Burnout is a pervasive issue in the legal profession. Murray acknowledges that he experienced burnout multiple times during his career. The difference between burnout and readiness for retirement, he explains, is that burnout is episodic—you recover and continue. Retirement readiness is a more permanent desire to step away and do something different.
For lawyers not yet ready to retire, finding ways to address burnout is essential:
- Take vacations and truly disconnect.
- Focus on work-life balance.
- Seek support when personal challenges compound work stress.
The Money Question
A common hurdle for many lawyers is “the number”—the financial benchmark they feel they need to reach before retiring. Murray argues that chasing an elusive number can keep you working far longer than necessary.
“If you focus on hitting a number, you might never retire. Instead, think about scaling your lifestyle to fit your resources.”
For Murray, that meant selling a Toronto home, moving to the countryside, and prioritizing meaningful experiences like travel and community over material possessions.
Mentoring the Next Generation
In retirement, Murray has found fulfillment mentoring young lawyers. What started as a humorous LinkedIn post about being “honored and humbled to be unemployed” has turned into a network of meaningful connections.
Murray offers mentorship to new lawyers on a sliding scale, often for free, and he hosts networking events at his countryside home. For him, staying connected to the younger generation keeps him engaged and provides a sense of purpose.
Closing Thoughts
Retirement doesn’t have to mean losing relevance or identity. Instead, it’s an opportunity to redefine your purpose, focus on what truly matters, and live a fulfilling life. Whether it’s traveling, mentoring, or simply enjoying a slower pace, the possibilities are endless.
As Murray puts it, “Now is the time to spend the money you’ve earned and enjoy the life you’ve worked so hard for.”
Get in touch with Murray on LinkedIn.
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