Conner Financial

Phased retirement allows older employees to reduce work hours gradually, creating a kind of slow transition into retirement rather than a sudden departure from the workforce. In addition to reducing work hours over time, these programs include initiating a partial drawdown of retirement funds from defined contribution or defined benefit retirement plans, says SHRM. Also worth noting, this approach to slowly disengage from work also include continued employer-sponsored health coverage until you fully leave the workforce.

(Source: Real Simple)

Wealth Wednesday Tip #721: How much can I spend in retirement?

Many people are convinced that their expenses will be vastly different in retirement. Different, perhaps. Lower? Not so much. “I’m moving to a lower-cost part of the country, so I’ll save money.” But you might want to use those savings to build up a financial reserve, because your expenses are sure to grow, by choice or by chance.

(Source: Market Watch)

The very concept of retirement is changing before our eyes. Large swaths of people — members of the FIRE movement or otherwise — have redefined what it means to be a worker in a distributed workforce. The great news is that retirement no longer needs to be a period of complete idleness following 40 years of work; instead, it can be woven into our lives in whatever way we see fit.

(Source: Motley Fool)