There's a Right Way to Retire from Your Job
11/12/2018
Many Boomers don't have the luxury of retiring from their job. Others are forced out because of age discrimination. Still others decide that it really is time to retire.
There's a right way to retire from your job. In the best of all scenarios, leaving a job will be on your timeframe and will cause no ill will between you and your employer. A truly enlightened employer might even work with you on a phased retirement or a creative arrangement, such as rehiring you as a part-time contractor after you leave your full-time position.
Writing for The Balance, retirement book author and financial writer Melissa Phipps offers ten valuable tips for retiring from your job, among them, "Be sure you really want to retire," "Check out alternative careers," and "Consider phasing in retirement." Phipps points out that some early retirees make the decision to retire because they face an undesirable job situation. This may not be the best reason to retire; instead, you may want to try to work with your employer to improve your job or change it within the same organization. Or, if that doesn't work, maybe it's time to consider pursuing an alternative career instead of retiring.
Before you decide to retire, advises Phipps, make sure you are financially secure and that you have health insurance. It also makes sense to consult with a financial adviser. In addition, anticipate the fact that, even if you retire now, you may want to (or have to) return to the workforce. That means you should get references when you retire and be sure to leave your position on a positive note. Another interesting idea is to "test drive" retirement: If you have the type of job that allows you to take some time off, experiment with the kinds of things you would like to do in retirement and see if it's a lifestyle you would enjoy.
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