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The Joy of Part-Time Retirement

It is a bit scary to think of retiring completely from the world you have come to know over the course of your career. During those memorable decades, you lived through good times and not-so-good times and dealt with challenges of all shapes and sizes. Hopefully along the way, you were able to establish an acceptable balance between work and relaxation. Whatever the case, making the switch to full-time retirement is a significant change, something we have no firsthand experience with. It sounds good, but are we ready?

Retirement for most of us is about getting away from the working world and refocusing our efforts on doing what we really want. By the time we reach that right age -- which varies case by case -- we are typically more than ready to leave behind the stress and pressure of a job to explore new interests. We have done our time, so onward to bigger and better things.

Yet most of us probably experienced at least a few good things while on the job. There is our relationship with co-workers established over the years, that group of confidants we share our lives with from 9 to 5 and often beyond. There is that feeling of accomplishment when a challenging task has been successfully completed. And keeping actively engaged with a dynamic situation makes us sharp and stimulates our brains to function at their peak. Perhaps there are some things about the job we might like to carry over into retirement.

My ideal retirement -- a work in process -- would combine the freedom of retired life with what are, for me, the best parts of a job. I am looking for a balance between relaxation and pursuing something along the lines of my own small business. Although each of us will need to find the right formula to create an ideal part-time retirement, here is what I have in mind:

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Living a fulfilling retirement stays priority No. 1. Since it has been a difficult path getting here, I plan to fully enjoy the freedom and flexibility of being retired. I will stay in control of how I spend my day. My mission statement: "Have fun, try new things, enjoy the moment and never be bored." If I decide to work in some capacity during my retirement, I will not allow the job to dominate my days. I have been there and done that, and no more. Now that I am in control, I can make those adjustments and tweaks to assure I maintain my retirement's first priority.

The work I do will be strictly part time. Since I am officially retired, I have no wish to work 40 hours a week. Any work I undertake will be strictly part time. I am a morning person, so the ideal part-time retirement would allow for my business activities to take place before noon. Dedicating three to four hours first thing in the morning, when I am at my best, leaves me the rest of the day to explore other retirement options. By getting the work done first, I pave the way to having fun. Come noon, all work-related activities should be in my rearview mirror.

The work I do will be something I am interested in. If it is not interesting and I do not have to do it, why would I? There are lots of meaningful, worthwhile, fun options to consider. I am no longer limited to what will bring in a paycheck. And there is no problem with a little trial and error. I am looking for that part-time business that fits in with and compliments -- rather than monopolizes -- my day.

I can work from home. Even better if I can work from the beach! I have done a lifetime of commuting and waiting in traffic. If I am going to consider any retirement job, it cannot require me to waste my time and sanity stuck in traffic. The flexibility to work remotely is a big reason I believe a part-time career will fit in with the retirement I envision.

Money is not the main driver. I accept that my part-time venture will not result in near what I made while employed full time. That is OK. What I hope for is a steady incremental improvement over time. I am happy to start small and build gradually. Controlling the rate of growth is yet another benefit of the part-time job I look forward to in my retired life.

All goals will be realistic. Since I have no desire to build an empire, the goals I set will be reasonable. Since there is no timeline for success, I will progress at a natural pace. And since it is my business, I am the board of directors, CEO and ultimate decision maker. If somewhere down the road, the job starts to take more effort than I feel it is worth, I will gracefully exit and look for my next adventure.

These are a handful of important considerations to help facilitate a part-time retirement. Since this will be our first time at it, I am sure there will be adjustments along the way. And if for any reason we decide we do not want to include work as part of our second act, we are free to leave it in the dust and move on. It is all about creating an environment that allows us to enjoy our own personal joy in retirement.

Dave Bernard blogs at Retirement-Only The Beginning.



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