Resources for the Semi-Retired. What does it take to semi retire?
Semi-retirement or partial retirement is a kind of retirement in which the retiree wants to do something productive but does not want to give up all of their income. It is a way to have a satisfying and meaningful life without giving up everything. If you’re considering semi-retirement, here are some resources that will help you get started.
Getting the right mindset is key
First of all, it’s important to understand that there are different kinds of retirement. Some people want to retire completely and never work again. Others want to work part-time or do something on the side. Still others want to do some kind of consulting or entrepreneurship that generates income while still getting some monthly salary from their former employer. The first thing you need is a proper mindset. You need to get rid of any negative thoughts you have about retirement and start thinking about what might actually be fulfilling for you. When you get rid of these fears, and start imagining what might bring you joy and fulfillment, it will be easier for you to make a plan for semi-retirement.
Figuring out what you want to do
The first step for anyone considering semi-retirement is figuring out what they want to do. This can be a difficult decision as there are many different possibilities. One good place to start is your passions and interests. Do you have any hobbies that you really enjoy? If so, those might be a perfect starting point. Another idea is to find a volunteer position that you would enjoy doing on the side. This way, you could still feel productive and also get some experience in a new industry or field of interest without committing to something long-term.
Do some research
Semi-retirement isn’t for everyone. You will need to do some research before you make the decision. Research your options and define your goals before making a decision about semi-retirement. What will you do? What are your plans? What is your budget? Once you have these answers, it should be easier to decide what steps to take next.
Make a list of what you want to do
Semi-retirement is about choosing the life you want to live. It means working less but making more of your time. Before you can take any steps, you should make a list of what you want to do. There are many ways to make this list. You can think about how much money you need to live on each day or week. You can also think about the things that you enjoy doing and would like to spend more time doing them, like gardening or volunteering at a local charity. For some people, the list will include figuring out how they want their days structured. If that’s your style, then it’s important that you figure out what times of day are most productive for you so that you can build your schedule accordingly.
Don't be afraid to ask for help
The most difficult part of semi-retirement is that you have to do everything yourself. This can be a lot of pressure and it’s important to ask for help when you need it. If there are things that you don’t feel like doing, or if you lack the knowledge or time to do them, don’t be afraid to reach out. This is why I built this site. I want us to learn from each other. And network, a huge advantage in surviving in this century. Leaver your thoughts below?
Finding your work-life balance
One problem with semi-retirement is that it's not always clear what to do. You may have a job lined up, but not sure about the details of your new schedule or how to work around your partner’s schedule. There are a lot of things to consider when you're going from a full-time career to a partial retirement. For this reason, it's important to start with determining your needs and desires for the next stage of life.
If you don't know where to start, here are 10 resources that will help get you started on semi-retirement:
1) Money - How much income do I need? How should I allocate my investments? What about taxes? Here in the US, AARP has volunteers to help with your taxes.
2) Home - Where should I live while working part time? Is this an option for me at all? Yes. Leave your comments below.
3) Retirement Plans - Do I need one while working part time? (Absolutely, IMHO) What kind of account should I use for retirement savings? That depends on whether or not you sre under the age of 70 here in the US. If you are visitng from outside of the US, what options are available in your country. Comments below?
4) Budgeting - How can I make sure my money lasts while spending less money on housing and transportation costs? Should I set up a budget? Absolutely
5) Partnerships - Can my spouse or other dependents work with me part time instead of quitting their jobs altogether? (Yes again)
6) Personal Development - What does semi-retirement mean for me personally, emotionally and mentally? Am I ready for this change in lifestyle and how can we prepare our children for this change in lifestyle too? What happens next? Leave your comments below?
One of the reasons to start a semi-retirement is because you want a better work-life balance. When you’re considering a career change, it’s important to think about what your priorities are. It’s important to find out what makes you happy and then find a way to make that happen. So, what do you need in order to be happy? That depends on your personal needs. If you want more time with family, maybe that means spending less time at work. If you want more time for travel or hobbies, maybe that means working fewer hours or choosing an entrepreneurial option like taking on consulting clients only when desired--not as your main job.
Educate yourself
If you’ve never been in this position before or know someone who is, it can be difficult to know where to start. The first step is educating yourself on the different options available. Please reach out in the Comments section.
Build your support system
The most important resource for a semi-retired entrepreneur is their support system. Whether you’re looking for a community to develop your business with or a mentor to help guide you, a support system is a must. This site, Facebook and many other resources are at your disposal. Let us know in the Comments below what your concerns are.
Keep an open mind about work options.
One of the most important things to keep in mind is that semi-retirement is not about the amount of time you work, but about what kind of work you want to do. If you’re considering semi-retirement, it’s important to remember that this is an opportunity for you to spend time doing something fulfilling. You may want to try a new hobby or volunteer in your community. That said, if you want to earn an income while doing something less than full-time, consider these resources: - Work part-time/job share: This will allow both parties to maintain their current lifestyle and commitments. - Freelance: You can also take on freelance projects. This means that your clients are the ones hiring and managing your schedule. - Become a consultant: This option allows people who may be too young or too old for traditional jobs to use their skills and knowledge and put them to use in a professional environment.