Options For Retirement Planning

By: Dean Caporella

If you're coming up to retirement age and worry about maintaining meaning in your life once you exit the work force then don't.

There are several great options to consider as part of your retirement planning. Today, people are living longer thanks to modern medicine and advances in nutritional research and while this is great in a sense, it means making your retirement planning count much more as your nest egg needs to sustain you for a longer period of time.

The problem is though as a baby boomer, you're not ready to accept old age. This means as a baby boomer you're also part of the largest spending group in human history which means you may have been a little extravagant with your money. But that's the nature of many boomers who refuse to let old age become an obstacle in their quest to enjoy all life has to offer.

So what can you do to give your life more meaning in your retirement years. Let's take a look at just two options you should consider.

Phased Retirement

This is going to become a "biggie." Phased retirement is still basically a term but will gather momentum during the next few years as boomers hit retiring age.

Basically, phased retirement will give you the opportunity to continue to work in some capacity past whatever age you decide to retire. There will be a broad range of options available. Here are some of them:

- you could consider a new part-time career
- you could take on seasonal work
- establish a flexible work schedule with your current employer
- stay with your current employer or former business as a consultant
- sell your business but stay on in a part-time basis
- take a year off before returning on a part-time based

The idea of phased retirement is to not only ease one into their golden years but to also maintain security in the shape of income. Yes, there will be tax and pension considerations but phased retirement is still basically at birth stage with many issues to be sorted out.

Join A Community

Going online and becoming part of a thriving community is a choice many smart retirees will make and will form part of retirement planning options.

For example, membership sites online offering everything from health and fitness news, financial news, income opportunities and lifestyle information will become big business in the not too distant future.

Becoming part of one of these online communities is a great way to develop new friendships, not just in your own country but around the world. Forums within these online communities will be a safe and effective way of meeting up with other smart retirees.

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