What Exactly Is Semi-Retirement?

What Exactly Is Semi-Retirement?

Chances are you have a pretty good idea what retirement means. Whether that’s traveling across the US, enjoying the sights and sounds of coast to coast exploring; or cruising around the world on a luxury voyage; or maybe it’s spending more time with your friends, family, children and grandkids; or volunteering your time to a charity that resonates with your spirit, whatever it looks like to you, retirement means leaving your day-to-day job, ceasing to work.

Now that we are fantasizing about retirement with the extended vacations and being done with the daily grind of work, let’s talk about a new idea. Becoming more popular with each passing year, the notion of semi-retirement is taking root in American culture. While the anticipation of retirement looks like a blissful state of perpetual pleasure, the reality is that life still goes on as-is in many ways. For one, the vacations, relocations, and quality of life are not free. While you may have substantial retirement funds set away or plan to claim pension or Social Security, these funds usually aren’t comparable to your current salary. Retirement can be quite jolting when you are used to reporting to work, which you’ve done for the past 30+ years.

Semi-retirement offers a great alternative to deal with the challenges of full retirement. Instead of stopping cold turkey, those who opt for semi-retirement reduce their work hours and work load to part time, therefore still contributing to the work force, but on a much smaller scale. Also, this part time employment helps to subsidize their retirement funds and offers a better way to maintain a great standard of living and also pay for those well-deserved excursions and vacations.

Don’t let the idea of retirement discourage or scare you, you always have options. Depending on your unique situation, we can work with you to determine the best course of action as you plan to enjoy the retirement years, regardless if you choose to work part time or go into full retirement mode, with no work at all on the table.