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Re: Is phased retirement right for you?

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No, because my job is my only source of income.

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Re: Is phased retirement right for you?

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What an unfortunate situation for your soon to be former employer.  Besides losing your experience they have also deprived you of the ability to retire with dignity and respect.  Wishing you all the best in your next chapter of life.

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Re: Is phased retirement right for you?

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Joseph,

 

I am not sure how progressive your employer is.  With pension benefits there needs to be a legitimate separation from service, rather than a change in employment status, in order for you to begin collecting your pension benefit.  Typically this means you originally left with the intention of not returning to employment.  However, if circumstances change and your employer has a need for you to return on a project oriented basis you are able to continue receiving your pension while working.

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Re: Is phased retirement right for you?

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Gregg,

 

I have found there are many opportunites for those that may have limitations due to medical conditions.  One interesting web site to look at is called SideHusl.  It was created by Kathy Kristof, a former columnist for Kiplinger's.  Kathy look at various "gigs" available to those who either cannot or do not want to work in a traditional work environment.  It might be worth looking at if you have a few spare minutes.

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I have worked for a small, family owned business for nearly 10 years. Five weeks ago I asked to restructure my work week to 4 days per week as a transition to retirement. My boss went ballistic!!!  He saw it as a greedy request for more vacation days rather than a way for both of us to get ready for my exit.  Very sad,,, it could have been a win/win for both of us, instead it is a lose/lose. The next week I submitted my resignation and intention to retire,,, Tuesday is my last day. 

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Re: Is phased retirement right for you?

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I have coached many people as they prepare for retirement and have found those who have something to "retire to" are much happier and satisfied than those that do not know what they are retiring to.  A phased retirement provides an opportunity to find what you are retiring to and maybe even test it out.  A phased retirement also provides an opportunity to gradually build a new social network as you ease out of the social network you developed and lived in while working.

 

In my personal experience, I found the first three months of my phased retirement to be the most difficult as I still craved the daly interaction and problem solving I had been accustomed to doing for the past 35 years.  Now that I am adjusted to the new pace and have formed a new social network I could not imagine retirement happening any other way. 

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In a few weeks I’ll be starting in to what I call phase 2 of retirement. Six months ago I left direct patient care, wearing lead for fluoroscopy cases and taking call. I remained full time but my job then was to call the patients on the phone, do their history and make sure they understood how to prepare for their procedures. Now I’m cutting back on my hours. I’m fortunate that I can still keep my medical benefits even though I have to pay more. Nursing has definitely allowed me a good work / life balance whether it was with a young family and now “phasing into retirement”.  

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Maybe it would have been. I'll never know. My health conspired against me to force me into sudden early retirement at sixty-one. 

I hadn't put much thought into it as I thought I'd be working until at least seventy. Now I'm trying to figure out what to do given my reduced abilities. I'd be lying if I said that I wasn't depressed over this outcome. 

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Re: Is phased retirement right for you?

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Spoiler
 

I think this is an excellent idea, especially for certain groups. Many men who are retirement age subconsciously tie their identity to their job. Some, because "they are the "breadwinner", some who have worked more then 40 hrs/wk to be successful, and others who have not developed interests outside if family/career. 

For this group, staving off depression and lack of a social group outside of coworkers is a problem. 

In addition, there may be financial considerations such as continued medical insurance, discrepancy in pay vs retirement, etc. 

I certainly will be working a PT job after retirement for all of these reasons. 

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Re: Is phased retirement right for you?

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Interesting the post above is correct, and I failed to state that I was in a phased retirement for just about a year. I taught art for our local school district on a campus with special needs adults. In that year I had a fellow collegue who joined me in my class for one day a week. In that process I taught her just about everything I knew about my particular art, which was ceramics, water color, scuplturing. However, in ceramics there are many layers to the art: Understanding the medium of clay, understanding the enormous number of glazes and affects, use of the Kiln and techniques that can be used in firing at different temperatures etc.

So I'm in my final month and our employer has moved my collegue into my position, and now the last month is merely fine tuning the process, oversight of her progress, and letting her have the while department.

This phasing was in consideration of the employed, students and staff it will soon affect. The hours were not less, but my responsibility changed from teaching students to teaching a collegue to supervising. 

Hope this clarifies some about my phasiing out experience, and it was a joyful, and rewarding experience for all involved.

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