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Redefining Retirement


Retirement Party

When I think about retirement, one of the first things that pops into my head is a big lavish celebration I went to for my uncle who was retiring from the World Bank. The men wore tuxes and the women donned beautiful dresses; these were mostly colleagues of his from over the years, but family and close friends were invited of course, too. Hors d'oeuvres were passed and I remember toasts being made with champagne glasses raised high.

 

Retirement is a time to reflect and celebrate all of your accomplishments and give yourself the permission to transition into a more relaxed pace of life. For everyone that means something different, and as we always share with our clients, it’s important to have a plan for what retirement on a daily basis is going to look like for you. Certainly you can have a more flexible routine, but it’s good to have certain hobbies or goals set out for yourself to keep yourself not only mentally and physically active, but emotionally fulfilled!

 

But what if we shifted that picture of retirement a little bit? Younger generations who are approaching retirement are not all wanting to necessarily embrace the traditional retirement cut-off scenario; they are planning for a gradual, phased-in retirement. The idea of working later, but perhaps in a less demanding and more enjoyable setting, is easing the pressure many Americans feel about saving for retirement. 



Quilting

This shift seems to stem mostly from the post-pandemic world we are living in. The entire world had to adjust and many jobs transitioned to remote and flexible work arrangements which opened everyone's eyes to the importance of having a more balanced relationship between work and life. Many of the new hobbies and passions people pursued during the pandemic were fleeting, but others were strong enough to have people making them a ‘side hustle’ job and thinking about doing something they enjoyed after the so-called rat race, like working at a garden center part-time or selling hand-crafted quilts on Etsy. Truly, the possibilities are endless. Just because you want to end your typical 9-5 doesn’t mean you have to fully give into an empty day of pacing around the house. It can be possible to work for pleasure too!

 

 

We’re curious to hear what your plans are for retirement and if you would consider this phased in version of retirement.


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