You Should Learn :  How to Retire In Stages


Here’s what to know about how and why you should consider transitioning out  of work with a partial retirement plan.

Why partial retirement might be right for you

The simplest form of partial retirement is turning your full-time job into part time hours or you could transition to part-time work in the same field at a different company.

Keep growing your savings

With a partial retirement, the idea is that you’ll still be earning enough of an income to delay tapping into your 401(k) or IRA. In fact, it means you can keep growing your IRA.

Optimize your social security payout

If you start payments at that age, you’ll get 100% of what you’re entitled to...but if you can push payments off until age 70, they’ll increase to 124% of that age-67 payment, according to CNBC.

Lifestyle perks of partial retirement

Retiring in stages buys you a grace period to adapt to your new lifestyle—you can enjoy newfound freedom without fully diving into an unprecedented amount of free time.

It’s important to consider the long-term health of your savings, investments, pension plans, and debt to make sure that you’re on track to retire at all.