Baby Boomers are redefining retirement with the rise of “flextirement,” a term coined to describe a new trend in flexible work arrangements.
Instead of immediately going from “90 mph to an abrupt stop,” flextirement allows individuals to gradually reduce their work hours, take on part-time roles, or start their own businesses. This can be a win-win for businesses and employees.
The psychological and social benefits of continued work are significant. Many Boomers derive purpose, routine, and social interaction from their work. A gradual transition out of the full-time workforce helps maintain the intellectual stimulation many people crave, and helps employers avoid “brain drain”.
Boomers are living longer and often want additional financial security. Flextirement allows individuals to continue earning, and yet increase leisure time.
Technology has been crucial in enabling flextirement. By offering remote work options and providing the right digital platforms, companies can retain valuable contributors in a way that controls costs and overhead.
Protect yourself from unpleasant surprises by getting flexible work arrangements in writing, and reviewed by an employment lawyer.
As retirement evolves, flextirement emerges as a compelling alternative for companies seeking to retain talent and for Boomers seeking a balanced approach to their later years.
Robin Bond
610-640-5373
Robin@transition-strategies.com
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