Retirement Planning - Can You Really Afford To Retire?
It’s true when retirement looms that many start to feel a little anxious. Things have changed dramatically. Retirement planning meant having enough in your nest egg to see you through the retirement years.
Phased retirement is a term which has made a little impact on impending retirees. First of all, despite claims baby boomers are generally wealthy types who love to splurge on new toys and vacations, the truth is, many are facing clouded retirement futures simply because of the lack of income.
Phased retirement is a method which will allow retiring baby boomers to work in a more relaxed schedule and continue to earn vital income to take care of daily living expenses. This will not only help wage and salary workers but also those who own small businesses.
Industry cannot afford to lose baby boomers in large numbers en masse. The expertise which will be lost is a little frightening and one way of retaining this experience is to offer them a phased retirement package which will be a win-win for both.
Retirement planning for those who need to continue working in some capacity should include phased retirement options. Working a lifetime and then suddenly finding oneself grazing out in the pasture with other “golden oldies” can come as a bit of a shock to the system. Suddenly, there seems to be a void in a person’s life and it’s usually called purpose and meaning.
A new phenomenon is emerging among today’s retirees. Once the kids have “flown the coup” purpose becomes a major issue for future retirees. Work gives them this purpose because it makes them feel as if they are making a contribution, not only to society but to their own lives.
Phased retirement wouldn’t have even come into discussions even 10 years ago. The baby boomers are about to begin their exodus.
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