Semi Retirement Or Full Time – Which Is Right For You?
The only thing constant in life is change.
Our life passes through different phases. One of the phases is retirement. It is that phase of life, when people, who have served throughout their lives, stop working or working for them becomes optional. It can also be defined as a stage when people have achieved financial independence i.e. their income is generated but they do not have to work for it. It is achieved when a person gets pension from employer, in exchange for the stipulated years of service provided or when returns are being generated from the investments made earlier in life, which are enough to cover the day to day expenses of the person
Some people welcome the change of retirement and some people dread it. People welcome retirement because, after years of service, they finally have all time for themselves and their family without the tension of getting funds to manage their expenses. There are some people also who certainly do not like this lifestyle changing change, they miss their work life and often lead their retired life in loneliness. So, retirement can be a bane for some while it could be boon for others.
Why Semi Retirement May Be For You
Over the years, a new concept of retirement has evolved i.e. Semi Retirement. A person is considered semi retired if he/she is working either part or full time, even after retiring due to his/her interest or a financial condition.
Semi Retirement and Full Time retirement has their own set of advantages.
Work- An average person spends 1/3rd of his life at work. After spending such a huge amount of time at work, it becomes fairly difficult to imagine one’s life without working forever. Over the years, people have started working part time, so as to keep themselves occupied.
Finance- Unfortunately, some people who retire do not have enough income or social security benefits to support their livelihood. So, they choose to work to support themselves and their families, while other like to work to supplement their income or to finance their world tour, dream car or a dream house.
Fitness- After retiring, lifestyle of most people becomes sedentary as they spend most of the time sitting in front of their Televisions which reduces their physical activity and makes them passive. So, getting a part time job would lead to some physical activity which will make energetic and also prevents age prevents age related ailments such as memory loss etc.
Experience- Retirees are vastly experienced in their field; they know all the nitty-gritties of the job. So, it becomes hugely beneficial for other to learn from the experts. In this way, they can give back to the society.
Passion- Retirees also choose to pursue an interest or a hobby and can use it to supplement their income. This way they can earn while enjoying.
Different people have different perceptions of retirement. Semi retirement is a wonderful option for some while some like to retire fully. A part time job keeps you fit, active and employed while being able to contribute to the society and still being able take out enough time for self and family. If you want, send us an e-mail if you’re looking for a consultation, we can definitely help you decide if semi retirement is a solid option for you.