Retirement or Choosing to Downsize

Once upon a time, retirement meant opting out of the work force, calling ones working life to a close. In some cases retirement was forced upon someone when they reached so called retirement age. It didn’t matter whether they felt ready physically, mentally or financially to retire, they had the decision made for them, simply because they’d had one birthday too many. In other cases people were relieved when retirement age came, or faced the decision as inevitable and retired graciously, getting on with the next phase of their life.

Age no longer means over the hill or too old to be useful. The whole idea of being put out to pasture is obsolete. In recent years a new option has crept onto the scene, that of reducing ones work hours or work load, maybe even changing direction at a less involved pace. It has become known as downsizing and is a popular choice for those who feel they’re not ready to quit their working lives.

I have many friends who’ve decided they no longer want to work full-time, but feel they still have something to offer to the workforce. Rather than hang on to a job that could be taken by a younger person, they’ve either negotiated reduced hours with their company, or looked for different options.

Many people, as they get older, can get by on a reduced income. Changing a few habits, such as walking instead of driving, growing a vegetable garden or looking for less expensive ways of doing things, means they have reduced financial needs. Taking a position with less hours and less responsibility enables them to branch out a little, looking at other options in their lives. There’s a whole lot of living to do out there if you have the time to do it.

Image via Wikipediaced

Personally, my husband and I chose to relocate to a smaller city about five years ago. He had already retired from full-time employment and had started a small collectibles business that he really enjoyed. I left behind a good education position, confident that I would find another close to my new home. It wasn’t to be. These days education employment bodies prefer to employ younger teachers, for a number of reasons.

However, whilst my pride was initially dented, it turned out to be a blessing in disguise. I started working part-time as a relief teacher, and found I had less money, but a whole lot less stress and much more available time and energy. Because I was in a new city and needed to meet people, I started doing things I’d been interested in, but never had time for before. Consequently, my life has never been busier, nor more rewarding. I didn’t realise it at the time, but I had downsized my working life.

A friend in a demanding job decided she was feeling tired last year. She talked to may of the relieving teachers who worked at her school and thought maybe the time had come to let go some of her responsibilities. After long negotiations, the school realised they didn’t want to lose this valued employee and so were able to offer her a position with less responsibility and less hours. She now feels she is in control of her life again and thinks she has the best of both worlds, the world of working and the world of retirement.

So, if you’re getting close to official retirement age, why not start considering your options now. Look at what your financial needs really are and whether or not you can get by with less. Maybe there are other ways for you to generate an income that will enable you to participate in something you’ve always wanted to do.

Don’t leave your decision making too late. Look at your options. Consider your choices. Weigh up your personal pros and cons between retirement and downsizing. Make sure you are living your life.