About this episode
Are work and retirement mutually exclusive? Here at the Retirement Answer Man world headquarters, we don’t think so. On this classic (throwback?) episode, we revisit the idea of pretirement. Pretirement is the concept that you can work and retire at the same time. If you aren’t ready to hang up your hat and sit on the park bench of life, you’ll want to explore the concept of pretirement. Listen to this vintage episode of Retirement Answer Man to ponder the idea of work and retirement and discover if this is the right concept for you. Hard-at-work-October is progressing beautifully Are you ready for the most amazing, comprehensive retirement course ever created? All of us here at Retirement Answer Man HQ are busy creating a life-changing course that will help you rock your retirement. The good news is, this retirement course will be an exclusive benefit for everyone that has joined the Rock Retirement Club. If you’re not a member yet, make sure to join before November 1 to lock in your low lifetime price. Are you one of the millions of Americans in a sad state of retirement readiness? Pick up any news article on retirement and you are bound to read about the fact that Americans don’t save or invest enough to support themselves over the course of retirement. We are healthier and living longer than ever before and our savings numbers just don’t work. But what is the right amount of money to have saved anyway? Whether you are worth $50,000, $500,000, or $5 million there will still be the feeling that you just don’t have enough. Do you think of retirement as a light switch between work and retirement? According to a recent survey among Retirement Answer Man listeners, freedom is the number one aspect to retirement that you all look forward to. Be strategic about how to put a plan in place to slow down your working pace. Pretirement is the strategic phase in which you still earn income (maybe less than before) but you gain the time freedom that most seek from retirement. Rather than seeing retirement as an off-switch to working, pretirement is more like a dimmer switch. What are some benefits of pretirement? It takes the pressure off of you to save everything you can It takes away the worry about the economy At the beginning of your retirement, your skills are still relevant and you still have a network of work contacts Your longevity risk and market risk are the greatest at the beginning of retirement. Pretirement eases these risks The retirement transition is a period of significant change, pretirement can ease you into that change You don’t have to dip into your savings so soon so your investments can continue to grow You can delay taking Social Security which increases your benefits You may experience a reduction in healthcare costs OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN HOT TOPIC SEGMENT [6:46] Most Americans feel that they are not retirement ready PRACTICAL PLANNING SEGMENT [9:15] What excites you most about retirement? [16:09] Why is pretirement important? [19:42] What are the benefits of pretirement? [27:22] What are some qualitative benefits of pretirement? [33:28] Tips to start planning pretirement [36:48] Some examples of pretirement work TODAY’S SMART SPRINT SEGMENT [38:09] Think about what you might want to do for pretirement work THE HAPPY LAB SEGMENT [38:58] You have a choice about how you respond to things Resources Mentioned In This Episode BOOK - The 100 Year Life by Andrew Scott and Lynda Gratton BOOK - Built to Sell by John Warrillow Couple Money Podcast Stacking Benjamins Rock Retirement Club Roger’s YouTube Channel - Roger That BOOK - Rock Retirement by Roger Whitney Work with Roger Roger’s Retirement Learning Center