232 “The Five-Day Weekend: What a Doctor Needs to Know About Retirement” Neil Bellovin M.D.

The Five-Day Weekend: Retirement Planning and Practice Legacy for Pediatricians

In this Pediatric Lounge episode, hosts discuss Nicholas Children’s upcoming postgraduate pediatrics CME conference and then interview repeat guest Dr. Neil Bevin of RBK Pediatrics about physician retirement. Bevin describes planning a year ahead to transition administrative responsibilities, defining financial independence based on cost of living, and how taxes affect retirement withdrawals. He highlights common mistakes such as underfunding retirement in peak earning years, failing to adapt practice models as pediatrics shifts toward chronic disease management, and retaining control too long, which can damage practice value and legacy. He explains RBK’s move from a defined benefit plan to a 401(k) and Roth options, notes limited retirement participation among younger employees, and discusses private equity’s impact on job security and pensions. Bevin shares his semi-retired “five-day weekend” schedule, stresses planning hobbies and purpose, recommends saving early (including 529 plans), and emphasizes leaving unhealthy practices, avoiding divorce, and using keyman insurance in small practices.

00:00 Podcast Intro and CME Plug
00:50 Snowy Weekend Banter
01:27 Meet Dr Neil Bevin
02:07 Planning the Exit
04:42 Financial Independence Basics
06:17 How Much Is Enough
07:17 Common Retirement Mistakes
10:42 Practice Legacy and Adaptation
16:33 Giving Up Control
18:46 Retirement Mindset and Hobbies
21:42 401k and Roth Basics
23:30 Pensions and Private Equity Risks
26:29 The Five Day Weekend
27:36 Fair Scheduling Mindset
28:11 Flexibility Beats Absolutes
28:20 529 Plans For Kids
30:21 Inflation Crushing Doctors
32:36 Law Pay Versus Pediatrics
35:07 Private Equity Job Risk
38:26 Starting A Practice Today
39:30 Mortgage And Refi Strategy
42:42 Retirement Advice By Age
45:11 Keyman Insurance Matters
46:43 Practice Culture Horror Story
49:11 Wrap Up And Credits

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The Pediatric Lounge - A Podcast taking you behind the door of the Physician's Lounge to get a deeper insight into what docs are talking about today, from the clinically profound to the wonderfully routine...and everything in between.

The conversations are not intended as medical advice, and the opinions expressed are solely those of the host and guest.