I’m Not Ready for Retirement (but I’m Not Waiting)

Can we normalize ‘phased retirement’? [Morningstar](?utm_source=eloqua&utm_medium=email&utm_campaign=newsletter_improvingfinances&utm_content=55752&elqTrackId=7e3d82689af8466a9f6b0dc5bc5281f7&elq=8eede27845f04bf3ac9da60699450895&elqaid=55752&elqat=1&elqCampaignId=28327) [Improving Your Finances] Improving Your Finances with [Christine Benz]( [Christine Benz] “As you get older and you start to have some ability to work less and to be more flexible in your work, keep in mind that doing some work is good for most people … How we work is not good for us.” Stanford researcher Laura Carstensen made those comments in [my forthcoming book]( and several other interviewees made a similar point: Phasing into retirement gradually rather than making it a hard stop makes a ton of sense, especially if you can find an agreeable work/life balance. Of course, there are the oft-discussed financial benefits of working longer. But the nonfinancial aspects of working can be just as valuable: Work often confers a sense of purpose, brings us into regular contact with other people, and may even come with a bit of physical activity. All of those things have a correlation with happy and successful aging, and they came up again and again in the course of the interviews for my book. But as much as I am conscious about the benefits of working longer and have a job that I enjoy thoroughly, I’m also conscious of my [“time-on-earth” allocations](. Over the past few years, several close friends—some of the most fit and health-conscious people I know—have been diagnosed with serious illnesses. I’ll admit that it has made me think hard about my own situation. If I received a devastating diagnosis, or my husband did, what regrets would I have? Would I have preferred to spend my days in some other way than I’m doing today? Should I have retired earlier? For now, I’ve decided to pursue a happy medium, which I wrote about in [my latest column](. I plan to continue to work, but I’ve also taken steps to make sure I’m not underutilizing precious time. Susan Dziubinski and I discussed key factors to bear in mind when setting a retirement date in [this video](. Elsewhere on the retirement front, John Rekenthaler [wrote about investments]( that The Wall Street Journal jokingly dubbed “boomer candy,” because they address retired and soon-to-retire adults’ desire for some of the growth that stocks deliver but with guardrails against extreme losses. John put the funds through their paces and shares whether he’d buy them himself. Finally, because it’s a holiday week, we decided to [resurface our November interview]( with veteran retirement columnist Scott Burns, whose own retirement-investing preferences are pretty minimalist indeed. No matter where you are in your retirement journey—whether you’re still working and accumulating or in drawdown mode—you’re likely to find wisdom in Scott’s words. With warm regards, Christine Benz [I’m Not Ready for Retirement (but I’m Not Waiting)]( Can we normalize ‘phased retirement’? [Read More]( Share: [facebook]( [twitter]( [linkedin]( ADVERTISEMENT [media]( [media] [Struggling to Save Money? Here’s How Your Summer Vacation Can Inspire Your Goals]( The way we spend our time can teach us how to set savings goals that motivate us. [Read More]( [How to Determine Your Expected Retirement Date]( Working longer and retiring later can have financial benefits, but is it the right choice for you? [Read More]( [Scott Burns: The Case for a Simple Retirement Plan]( The veteran retirement columnist reflects on a two-fund portfolio, safe spending rates, and the role of home equity in retirement cash flows. [Read More]( [‘Boomer Candy’ Funds: Sweet Treats or Investment Toothache?]( What to make of these lower-risk approaches to investing in equities. [Read More]( [Downsize or Take Out a Reverse Mortgage? Here’s What to Consider]( The role of housing wealth in retirement-income planning. [Read More]( Get Top Stock Picks and Market Insights Every Week on The Morning Filter. Every Monday morning, Susan Dziubinski sits down with Morningstar Chief U.S. markets strategist Dave Sekera to discuss what's on his radar, new Morningstar research, and stock picks or pans for the week ahead. [Watch Now.](morningstar/streams?utm_source=eloqua&utm_medium=email&utm_campaign=newsletter_improvingfinances&utm_content=55752) Stay connected: [twitter]( [facebook]( [linkedin]( [instagram]( [YouTube]( [Apple News]( [View online]( | [See all newsletters]( | [Share your feedback]( [Unsubscribe]( from this newsletter. Or update your [email preferences](. © 2024 Morningstar, Inc. All Rights Reserved. 22 W. Washington St. Chicago, IL 60602