Shifting from a full workload to an open schedule upon retirement is a drastic change, and many baby boomers don’t want such an abrupt transition. Some employers also want older employees to pass their valuable skills on to younger workers before they leave. A phased retirement, which consists of full-time employees moving to part-time schedules, could be a viable solution for employers and older workers alike.
A phased retirement enables companies to retain talent and allows those approaching retirement to make a smooth transition.Even if there isn’t an established phased retirement plan at your clients’ current jobs, they could talk to their employers about this strategy. Before they begin the conversation, help them develop a plan for what the setup would involve and how it could unfold.
The following guidelines can be used to help you determine with your clients if they want to phase into retirement:
- Review finances
- Look into company policies
- Talk to the employer
- Check benefits
- Evaluate the Social Security situation
- Look at the overall retirement strategy
You can find the rest of the article at U.S. News.