Three Types of Retirement Lifestyles

For nearly four decades, Jerry Guttman has provided financial services as an advisor with Total Living Plan, which offers captive insurance and long-term estate and tax planning. Jerry Guttman and his team also create personalized retirement plans that consider each client’s circumstances, including current income, marital status, health, and post-retirement goals.

After leaving the workforce full-time, many retirees are still somewhat involved in employment. This trend has resulted in three archetypes of modern retirement lifestyles. The first type mirrors traditional retirement, where an individual spends 30 to 40 years in one field and retires from employment at the age of 65. High earners may reach their retirement goals even faster and retire from working life at 50 or younger.

Semi-retirement is another type of lifestyle that has increased in popularity. Rather than leaving the workforce after reaching retirement age, the individual may engage in part-time paid or volunteer work. Earning an income can impact Social Security benefits, so it is important to discuss post-retirement employment with a qualified financial advisor.

The third type of retirement lifestyle involves a series of shorter periods of sabbatical breaks interspersed with career changes. The final retirement phase would then be shortened as those years are deliberately redistributed into earlier phases of life.