Continue Working or Retire Now? You May Have Another Choice

NEW YORK (TheStreet) -- Flexible work -- or perhaps it should be known as flexible retirement -- is a movement that’s slowly growing in the government and private work sectors. It’s called "phased retirement."

Christopher Williamson is 28 and admits he doesn’t relish the finality of "the last day of work."

"The thought of [that day] being the last day of work for the rest of my life is just kind of scary," he told TheStreet.

Some people can't wait for that day, while others wrestle with the uncertainty. The concept of a work transition to retirement appeals to Williamson, even at his early career stage. He’s a plan specialist for Retirement Management Services in Louisville, Ky., and believes phased retirement is a win-win solution for employers and employees.

"How can the full-time worker still reap the benefits of being full-time but not still be [working a] 40-hour week?" he asks. "As an employer, or plan sponsor, what could I do to both bring up the idea of a phased retirement but also to make it a truly feasible idea for essentially my most loyal workers?"

The concept is to move from a full-time status to something like a 30-hour week where an employee can still receive health benefits as well as retirement plan benefits -- without the leap off a cliff into full retirement. For employers, it may be a matter of finding a way to retain the experience, knowledge and mentorship of older workers while providing an appealing benefit to employees.

If you liked this article you might like

Man Arrested at Gun-Point for Student Loan Debt

Would You Trust Investment Advice from Snapchat?

Will Your Roommate Cost You a Bunch of Money?

How a Roommate Can Cost You a Bunch of Money – Or Worse

5 Things Your Financial Advisor Should Be Doing for You in This Market