Are We There Yet?
Data Supports the Idea of the "Entrepreneurial Boomer"

Phased Retirement Makes Sense


"Phased retirement" is as good a way as any to describe what a growing number of boomers are doing to rewire instead of retire. A recent article in The New York Times reports on several boomers who left their full-time jobs but continued to work for their employers under a different arrangement.

Steve Norwitz, for example, ran a media relations department at T. Rowe Price, but "now works on specific projects and takes 13 weeks off a year. He accepted a 25 percent cut in pay in exchange for more personal time to spend with his wife, a retired teacher and tutor, and to attend cultural events and travel."

Mike Mouton, worked full-time as an engineer at Halliburton, left the company at the age of 65, and became a "boomerang" retiree -- he went back as a recruiter, working from home for around three years before retiring again. 

This proves at least that creative and flexible work situations can be worked out between departing employees and employers to their mutual benefit. Personally, I'm a big fan of phased retirement. Why shouldn't a boomer be encouraged to help out his former employer while generating income during a transitional period? It could even turn into a long-term relationship that gives boomers the opportunity to participate in the workforce in a whole new way.

There is no question that retirement will be different for most of us -- and "phased retirement" is one good alternative to consider.


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