Retirement Planning - 2 Ways Smart Retirees Guarantee A Successful Retirement

Posted on December 5, 2007
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If you’re coming up to retirement age and worry about maintaining meaning in your life once you exit the work force then don’t.

There are several great options to consider as part of your retirement planning. Today, people are living longer thanks to modern medicine and advances in nutritional research and while this is great in a sense, it means making your retirement planning count much more as your nest egg needs to sustain you for a longer period of time.

The problem is though as a baby boomer, you’re not ready to accept old age. This means as a baby boomer you’re also part of the largest spending group in human history which means you may have been a little extravagant with your money. But that’s the nature of many boomers who refuse to let old age become an obstacle in their quest to enjoy all life has to offer.

Phased Retirement

Phased retirement is still basically a term but will gather momentum during the next few years as boomers hit retiring age.

Basically, phased retirement, will give you the opportunity to continue to work in some capacity past whatever age you decide to retire. There will be a broad range of options available.

- you could consider a new part-time career
- establish a flexible work schedule with your current employer
- stay with your current employer or former business as a consultant
- sell your business but stay on in a part-time basis

The idea of phased retirement, is to not only ease one into their golden years but to also maintain security in the shape of income. Yes, there will be tax and pension considerations but phased retirement is still basically at birth stage with many issues to be sorted out.

Join A Community

Going online and becoming part of a thriving community is a choice many smart retirees will make and will form part of retirement planning options.

For example, membership sites online offering everything from health and fitness news, financial news, income opportunities and lifestyle information will become big business in the not too distant future.

Forums within these online communities will be a safe and effective way of meeting up with other smart retirees.

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Smart Retirees - The Truth About Phased Retirement

Posted on December 5, 2007
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The western world is going to experience a major impact from 2010 and onwards and it’s an impact that’s been predicted for sometime. We’re talking about the mass exodus expected from the workforce by our baby boomer generation who number about 80 million just in the United States. The Aging Work Force

It’s not just an aging population, it’s also an aging work force and the question needs to be asked…”Can industry afford to lose such a highly skilled generation in mass proportions?

The short answer is no, yet planning for retirement is one of the main issues when people get close to the golden age of hanging up the work boots. What would happen if one third of the work force phased out over several years?

Industry To Suffer From Mass Exodus

Industries such as teaching and nursing are expected to suffer through loss of expertise. It’s the expertise factor which is going to hurt many industries.

Good news if you plan to keep working after hitting retirement age. The subject of planning for retirement should sensibly start at a very young age, preferably in a person’s twenties yet sadly, many haven’t started building a nest egg until they hit their forties.

The topic of phased retirement has started to become more and more widely discussed and while we may not see it come to fore until baby boomers decide to call it quits, phased retirement is already being tried in some industries.

What Is Phased Retirement?

In a nutshell, it’s simply an option for people who want to keep working but don’t want the long hours associated with it. In other words, it’s a reduced and more flexible work schedule.

It really is a win-win situation; the retiree gets to keep earning income while the employer retains a lot of the expertise they worked so hard to establish over a number of years.

Studies during 2007 have indicated people who suddenly retire without any significant purpose in their lives, find it tough going and having purpose is what makes this option very attractive.

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Phased Retirement - The Truth About Phased Retirement

Posted on December 4, 2007
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One of the drawbacks with retirement is not having enough capital to sustain you in your golden years.

Phased retirement has emerged as a real answer to this ongoing problem especially for people with hard to replace skills in the work force. By hard to replace skills, we mean having developed an expertise in a particular area of your profession which an employer will find difficult to replace in a hurry.

Well, if your expertise is going to be missed, then the chances you’ll be asked to stay on are strong.

Why Would You Want To Work In Retirement?

One of the biggest issues for American retirees is the on going cost of maintaining a lifestyle they’ve become accustomed to. When the income stops, so do some of the perks. This is especially so for those who have been careless with their retirement planning.

Healthcare costs are just about the biggest issue for people in their retirement years, as health care is usually a necessity later in life.

Phased retirement is basically an arrangement between you and your employer which will see you able to work well past retirement age. However, it more than likely won’t be in a full time capacity but is seen as a win-win situation for both you and your employer.

At the moment, there doesn’t seem to be anything set in concrete about phased retirement which is the official guide so to speak.

Phased retirement practices are a little diverse at the present time and while some industries are unofficially practicing it, the real crunch will come when the baby boomer generation starts to exit the work force from around 2010 and beyond.

Self employed people can also look into PR arrangements. If you have a business and plan to sell it at retirement age why not consider staying on in a part time capacity if an arrangement can be struck with the new owner.

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Smart Retirees - How To Keep The Wolves From Your Door In Retirement

Posted on December 4, 2007
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The issue of retirement planning has never been as important as it is today. If you’re a baby boomer, then the next few years are going to be the most crucial of your life.

As a baby boomer, you’ve already heard over and over again you’re part of the largest spending group in human history. You’ve been responsible for more trends in the past half century than any group has before.

Baby boomers are those who were born from 1946 to 1964 and yes, many are getting close to retirement age. Have you saved adequately? More importantly, have you planned for your retirement?

The truth is, many baby boomers simply won’t be able to retire into a life of bliss and worry-free debt. In fact, many simply won’t be able to afford to stop working. There is a revolution brewing within the retirement age group and it seems many simply don’t want to stop working, not because they can’t afford to but because they want to keep collecting a pay check. In actual reality, when someone suddenly stops working, a lot of meaning to their life also disappears.

Meaning is one of the most important facets in human life. For retirement planning, a person needs purpose in their lives and being a contributing member of the work force gives them this meaning.

When there is a mass exodus of baby boomers from the work force from 2010 and beyond, there is going to be a lot of skills lost to industries and the simple fact is, there doesn’t appear to be the same skill set ready to take it’s place.

Almost one third of the work force in the United states for example is aged 45 and over. That’s a massive chunk of available talent and skill. Even more interesting is the fact the medium age of workers is about 40. Can we really afford to see a mass exodus of baby boomers disappear from our manufacturing and professional industries?

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