Is Phased Retirement Right for You?

by | Aug 24, 2021 | In The News

Published on August 24, 2021 by GO Banking Rates

Transitioning from working full-time to retiring can be jarring on both an emotional and financial level, so some individuals are opting for a “phased retirement” instead. According to the Society for Human Resource Management, phased retirement allows older employees to reduce work hours gradually, enabling them to slowly transition into retirement rather than departing abruptly from the workforce. In addition to reducing work hours overtime, phased retirement programs include initiating a partial drawdown of funds from retirement plans.