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Dreading Retirement Restructure Instead


Retirement? Restructure Instead!

 Dreading Retirement? Restructure Instead!

 The thought of retirement can bring excitement and positive expectations. On the
 other hand, you may feel that retirement looms ahead as a sign that maybe you're
 aging out of the mainstream of life.

 If you love your job and struggle to imagine your life without work and earning money,
 you have other options to consider! Since the word “retirement” often brings images of
 getting old, quitting work and riding off into the sunset, why not do something
 different with that phase of life?

 Some experts suggest “restructuring” instead of “retiring.” When you restructure, you
 create the life you want. This is much different than retiring.

 Consider these ideas for restructuring your life instead of retiring:

    1. Give yourself permission to continue working. If you strive to earn and save
       more money, work as long as you like, while reducing your hours to make room
       for other fulfilling activities. Try to arrange a reduction from 40 to 30 hours
       weekly, say in your late 50s or early 60s. Think about your favorite leisure-time
       activities to phase in to your life while still working.

            You’re setting up your work life and financial situation in ways that allow
            you to gradually disengage from work while engaging more with activities
            you love or want to try.

    2. If you’d like to change the type of work you do, go for it. As you approach
       retirement, you might realize you would like to try something different. Maybe
       you’ll want to continue bringing in dollars, but can scale down from your
       current job. As long as you won’t have to spend time or money on extensive
       training, ponder the type of work you’d really like to do.

                                              For example, if you love books, consider a part-time job in a library or
                                              bookstore. Restructuring allows you to “work for fun” at a job you’ve
                                              always wanted to try. Plus, you’ll keep earning as long as you want to.

                                      3. Embrace the idea of flexibility. Both of the above points demonstrate freedom
                                         of choice in how you live. When you get tired of working, scale it down. When
                                         you’re bored or ready for a change, make it happen. Restructuring your life
                                         allows you to make changes in your retirement years as you feel the need.

                                      4. It’s okay if you’re not sure where you want to live when you retire. There’s no
                                         need to pressure yourself about deciding now where you’ll spend your golden
                                         years. Of course, if you already have a place in mind, great. If not, here’s a
                                         suggestion: what if you were to take a 2 or 3 week vacation each year to one of
                                         the places that you’re considering?

                                              One year, it’s Taos. The next year, it’s Panama City. Provide yourself with
                                              the experiences of “living” in all the places you’ve considered by
                                              vacationing over a few years’ time. This way, you have a chance to
                                              determine which locales you prefer.

                                              Restructuring your life is a whole new way of thinking about retirement.
                                              As you gradually phase down your work hours, consider spending a month of
                                              each year at a destination you’re considering.

                                              For now, think about the fun you’ll have and the money you’ll save by
                                              simply renting a place for a month each year for a few years until you
                                              figure it all out. You might even decide to keep your current home and
                                              simply spend part of each year in your favorite locales.

                                   Avoid getting hung up on the word, “retirement.” Instead, open your mind to all the
                                   possibilities of restructuring your life. Create the kind of existence you seek in your
                                   golden years by thinking now about how you can restructure your life as you age.


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Curtis Rose is an experienced professional with extensive experience in all
aspects of personal finance. Curtis writes and publishes articles, courses,
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