Is Semi-Retirement the Answer?
Many Americans are looking toward the future and asking themselves what they are going to do. How are they going to survive without an income? If you have saved and invested enough that you can spend the rest of your life happily traveling on luxury cruise vessels and sipping cocktails while the sun sets, then you are one of the very few. For the rest of the population, that is not the reality they face.
One out of every three people in the United States has nothing saved at all for retirement. Over half of us have less than $10,000 saved. The fact that many of us are not in the best financial position should give you pause to think. Have you got enough saved, and when do you intend to retire?
People stop working at different ages, but by the age of 62, two-thirds of Americans have retired completely. At that age, many people are still physically able to do many jobs. If you are healthy but cannot afford to retire, perhaps working longer is the best solution. If, however, as you get older, you do not want to work full time, perhaps working part time may be a solution. Semi-retirement is a definite possibility for many older folks as they enter their wise years.
Once you hit your sixties does life end? Certainly not. Once you are retired though you may be susceptible to things like depression. Some studies show that when we retire, we may up our risk of depression by 40%. Instead of jumping from permanent employment and schedules to having nothing and no income can be a drastic life change. Semi-retirement could ease you into later retirement while giving you purpose and extra income.
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