Phased Retirement Strategies [PART 2]
Excerpts written by Richard W. Jackson, Principal: Schlindwein Associates, LLC

If managed and planned properly, Phased Retirement can help individuals to:

• Gradually ease into retirement, rather than end their career abruptly.
• Decrease the need to draw on reserves and investment portfolios to generate income for current cash needs. This can enhance the growth and longevity of savings.
• Delay receiving Social Security benefits, which can yield larger benefits.
• Continue funding tax deferred accounts like 401(k)s and IRAs.
• Continue receiving company-provided or subsidized medical benefits.
• Enjoy physical and mental well-being and personal fulfillment.

Preliminary Steps To A Phased Retirement

Here are some suggestions and tips that can facilitate a successful phased
retirement:

• Talk with your employer about phased retirement and understand the implications to your benefits.
• If you are currently retired and want to work, focus on your industry of expertise for best results.
• Determine your retirement living needs and create a budget that lists your fixed and variable expenses. 
• Determine potential sources of income. 
• Determine how much income you can reasonably expect to withdraw from your assets and any shortfall that may exist. 
• Determine how much you would like to earn and how much you may want to work.
• Make certain that your portfolio’s asset allocation is appropriately matched to your financial goals and updated periodically as your situation and circumstances change.

 
Our Next Post will cover:
Key Factors To Consider For A ”Phased-Retirement”
 
To Be Continued… Stay Tuned.
***
Many of our advisor partners are members of the National Association of Personal Financial Advisors (NAPFA), which is the leading organization promoting Fee-Only comprehensive financial planning.  Many advisors we have within our directory belong to the Financial Planning Association (FPA) as well.  Utilizing the services of a qualified financial advisor and/or financial planner will ensure you can retire comfortably!  They can help you identify the strengths and weaknesses in your financial picture.  The Time to Act is Now!

NOTE:  Experts recommend contacting 2-3 financial advisory firms, so that one may compare/contrast each firm, thus making the best-qualified choice.

Phased Retirement Strategies
Excerpts written by Richard W. Jackson, Principal: Schlindwein Associates, LLC

Traditional ideas about retirement are changing so rapidly that retirement today looks much different than it did even twenty years ago.  Aging members of our population are living much longer and remaining active throughout their “golden” years.

The recent economic turmoil has hit baby boomers especially hard.  Even well-conceived plans for retirement have encountered unforeseen obstacles over the last several years. Many retirees and near-retirees have gone from dreaming of long vacations and beach houses to wondering if retirement is even feasible.  Could Phased Retirement be the solution?
 
A phased retirement enables individuals to work part-time before their actual retirement or after they have nominally retired. In general, there are three types of phased retirements: (1) Formal Employer Programs (2) Informal Employer Programs (3) Self-Created Programs.
 
Why is Phased Retirement becoming popular?
Our nation’s workplace demographic is changing, with millions of boomers set to retire over the next decade.  According to the National Council on Aging, 20% of the U.S. workforce will be over age 55 in 2015.  There is potential for a substantial skilled labor shortage.  This shortage, combined with longer life expectancies, extra years of income need, more active lifestyles and the recent economic troubles, creates a situation where phased retirement can be very attractive to older workers.
 
Our Next Post will cover:
Preliminary Steps to Phased Retirement
 
To Be Continued… Stay Tuned.
*** 
Many of our advisors are members of the Financial Planning Association (FPA) and also the National Association of Personal Financial Advisors (NAPFA: the nation’s leading organization promoting Fee-Only comprehensive financial planning).  Using the services of a qualified financial advisor (to help you identify the strengths and weaknesses in your financial picture) will ensure you can retire comfortably!

NOTE:  Experts recommend contacting 2-3 financial advisory firms, so that one may compare/contrast each firm, thus making the best-qualified choice.