Are you ready to retire? Or does the thought of retiring leave you questioning what you'll spend your time doing? Guess what? Retirement doesn't have to be all or nothing. In some circumstances, you may want to consider only partially retiring. Why? I share some viable reasons in this episode of the Retirement Made Easy podcast. Don't miss it! You will want to hear this episode if you are interested in... [1:46] Check out the FREE resources at RetirementMadeEasyPodcast.com [3:32] Reason #1: The cost of health insurance [5:15] Reason #2: An easier transition into retirement [9:05] Reason #3: Put more money into your retirement portfolio [10:22] Reason #4: Delay your social security benefits  [10:56] Reason #5: You're nervous about retirement  [11:44] Reason #6: Retire at the same time as your spouse  [15:50] Is semi-retirement something you should consider?  Reason #1: The cost of health insurance Many people push off retirement until 65 because of the cost of health insurance. When you turn 65, you can get health insurance through Medicare. But getting health insurance prior to age 65 (such as COBRA or insurance off of the marketplace) is costly. But some employers offer health insurance to part-time employees. You can also earmark some of that income for health insurance.  Reason #2: An easier transition into retirement When someone retires from a full-time 40-hour work week, the transition can be difficult. Some people find it easier to ease into retirement. You can move from working five days a week to three, from 40–50 hours to 20–25. Semi-retirement allows you to stay busy enough working on a limited basis. It also gives you more time to take an extended vacation, help with the grandkids, or just go grocery shopping on a Tuesday morning. It gives you more flexibility.  Reason #3: Put more money into your retirement portfolio You can use the extra income to pay for health insurance, pay off a mortgage, fund a Roth IRA, and much more. If you're over 50, you can contribute up to $7,000 a year to a Roth IRA. In 2023, the contribution limit will be $7,500 per person. A part-time income can allow your retirement nest egg to continue to grow. Reason #4: Delay your social security benefits  If you delay social security, you can get deferral credits. This leads to a bigger social security check down the road when you do claim it. Continuing to work and paying into social security, will also lead to a bigger benefit.  Reason #5: You're nervous about retirement  Are you nervous about retiring? It's a huge change in your life. Your career may be a huge part of your identity. That can be difficult to give up. Semi-retirement can make the transition easier for you with the added benefit of lowering your stress level.  Reason #6: Retire at the same time as your spouse  Ideally, we want couples to retire at the same time. You will enjoy retirement far more if both of you retire close to the same time. I've worked with many couples where one spouse retires early and the other continues to work. Nine times out of ten, the second spouse pushes up their retirement because no one wants to be retired alone. You can work part-time until your spouse can fully retire.  Resources & People Mentioned 3 Steps to Retirement Planning Connect With Gregg Gonzalez Email at: [email protected]  Podcast: https://RetirementMadeEasyPodcast.com Website: https://StLouisFinancialAdvisor.com Follow Gregg on LinkedIn Follow Gregg on Facebook Follow Gregg on YouTube Subscribe to Retirement Made EasyOn Apple Podcasts, Spotify, Google Podcasts

Ver todos los episodios