Will You Go Part-Time Before Fully Retiring?

Will You Go Part-Time Before Fully Retiring? Lions Gate Advisors

While many look forward to retirement, it can be a difficult transition when it really comes down to it. Some people don’t know what to do with all of their free time and miss the personal connections that work used to provide. Perhaps that’s why more people are opting to go part-time before fully retiring. Here’s what to keep in mind if you’re considering this.

Transitioning to part-time employment can give you some of the freedom of retirement while keeping familiar routines and relationships in place. It can also help you figure out a plan for what you will do with your free time in retirement before you actually retire. If your company doesn’t have a formal phased retirement program, you can prepare a proposal for your part-time schedule.

Plan which tasks you will still handle, how you will still do them with a reduced schedule, and how you will pass on your expertise, insights, and connections to younger coworkers. It’s important to emphasize how your skills and knowledge can still benefit your company even if you won’t be there full-time. Also, articulate how stepping back from your role might give younger workers the opportunity to assume leadership roles while still benefiting from your mentorship.

One crucial thing to consider if you will receive a pension is how working part-time will affect your benefits. Salary just prior to retirement is typically a factor in determining a pension benefit. Benefits such as healthcare and paid vacation time could also be affected. Know if you will still be on your employer’s healthcare plan or if you will enroll in Medicare. Also consider if you will delay taking Social Security if you are working part-time. You could be penalized for earning more than $19,560 if you claim benefits before your full retirement age.[1]

It can be hard to know when you’re truly ready to retire, both from an emotional standpoint and a financial standpoint. You can focus on the first while we focus on the second at Lionsgate Advisors. We can take your unique retirement goals into account when helping you create a comprehensive retirement plan. When and how you retire are important, and the decisions you make leading up to retirement can affect you for decades to come. If you’re ready to start planning for the future, Click HERE to sign up for a complimentary meeting.

Advisory services offered through Larson Financial Group, LLC, a Registered Investment Advisor. Larson Financial Group LLC is doing business as LionsGate Advisors.


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Securities offered through Larson Financial Securities, LLC., member, FINRA/SIPC/MSRB. Advisory Services offered through Larson Financial Group, LLC, a Registered Investment Advisory Firm. Larson Financial Group, LLC. is doing business as LionsGate Advisors.

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