6 Reasons Why You Might Want to go Part-time Before Fully Retiring?

By: Nanette Fairley
April 28, 2022


Why would you not just leave the workforce, retire 100% and just enjoy it?  There are many reasons why part-time or more flexible work appeals to those in their Third Age rather than opt immediately for full retirement.

1.      Sometimes you are just not ready to retire!
Knowing where you are ready is really important and this article can help you determine if leaving employment is for you at this point in your life.  If not, part-time or more flexible working might be a good option for some period of time.

2.      It’s beneficial for your wellbeing.
People who continue to work often remain more physically and socially active, which can lead to better overall wellbeing. Working part-time can provide some of these benefits without having to work long hours.

3.      You need an income.
You may not have saved quite enough money for retirement or your financial adviser tells you that you have saved enough but the thought of not having a pay cheque worries you enormously. Working part-time can provide additional income even if you don’t need it.  Just check what the ceiling is if you hope to draw any kind of pension.

4.      You’re just not sure.
If you are in two minds about retiring, reducing your hours can give a bit of insight into what it might be like.  Or better still, take a retirement test drive .  This will give you the opportunity to make your mind up about retiring, working part-time or staying full-time.

5.      You love your job.
As there are major understaffing issues in some professions, many employers are happy for experienced people to keep working. If you love your job you may not see anything more attractive in retirement that could give you a sense of purpose and being needed as much as your job does.  Perhaps moving to working part-time will give you the opportunity to find some other things you love to do, that you have never had time to do while working such long hours.

6.      Other practical reasons
There are a myriad of practical reasons you may want to continue to work past retirement age e.g. to retain health insurance or other perks that come along with your role.  If these can be retained, at least to some degree, while going part-time, this could also be a consideration for not totally leaving the workforce.

Overall, whether to leave full-time employment fully, move to part-time or move through a phased retirement, needs thought and planning.  Many of our big life transitions e.g. leaving home, getting married, having a baby, involved some degree of planning and preparation.  Your move to retirement does too!  If you want support to think through your plan for what’s next after full-time employment, take our free questionnaire.  The personalised report will get you thinking about all the factors that will contribute to your successful Third Age.

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