A hybrid retirement may be the perfect solution

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If you think you don’t have enough money to retire, you probably don’t.

Increased longevity already was straining previously healthy accounts as people found themselves having to fund retirements that lasted longer than their working years. Add to that a bond market that paid almost nothing and then a global pandemic, and you have a whole generation rethinking their golden years.

But, that’s okay, because technology has also developed in ways that make an extended career more palatable for many. Many jobs now offer work-from-home options, and plenty of those that can’t offer that mutually beneficial perk still provide flexible work schedules and accommodations for the physical limitations aging workers might face.

If you have an area of expertise, you can take advantage of inexpensive social media marketing and easily accessible video conferencing software to monetize your advice. You can develop a robust second career as a consultant from the comfort of your favorite family room chair.

The key is to take an honest inventory of your resources including financial, physical and emotional. Do you have enough money to last your whole life? Have you factored in health care costs? Will you be physically able to continue your job past a traditional retirement age?

Armed with this information, you can meet with a financial advisor, preferably one with a fiduciary relationship to you, meaning they must act in your best interest. Together you can look at both hard numbers like how much you’ve already saved in your retirement account and less tangible factors like your current job satisfaction and any potential health concerns, to map out a plan.

Some of the happiest retired people are actually not retired at all. They have found a way to linger over their morning cups of coffee, and still participate in the work force in meaningful ways.

This hybrid retirement keeps the mind active, the soul engaged and the retirement account healthy.