Clark Howard's Tips

"Phased retirement" is win-win for everyone

March 22, 2005

The reality today is that many of us will not be able to retire "cold turkey."

The AARP recently conducted a study on this issue and has reported that many more people are going to experience "phased retirement." Basically, that means you work gradually less until you're fully retired.

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It helps some people adjust better to retirement, and 4 out of 5 people said they would prefer to do it, according to the AARP.

And, the Wall Street Journal has more news on retirement. The Treasury Department is now floating a proposal that would allow people to work in a phased retirement capacity and still receive a portion of their pensions.

That's a great idea, in Clark's opinion. Just because someone is beyond retirement age doesn't mean he or she is useless on a job. Pilots, for example, get better over time. So why not let them work part of the time and everyone benefits.

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