I was recently playing with some numbers the other day around my retirement plans and stumbled onto an interesting concept. At some time in 2014 or so, I should have enough cash saved up to flip over to semi-retirement if I wanted (on a fairly bare bones spending plan). While pulling the pin at that point would ensure I would always have to do a fair bit of work each year until full retirement, it did make me realize something important. Making the shift from full to part work or full retirement is all about degrees of difference.
Full work or full retirement is all about being more black and white for states of being. You are working full time or you are not. Semi-retirement is the grey between those two states. How far you want to go down that path is all about your personal choices. Some people rather not have to work, while other are like me and fully expect to do some as I go. It’s all about how much work do you want to add in your plan or how much time off you want sooner than later.
Deciding where you want to be in that grey zone is really mainly about your emotional state. How much does your current situation drive you nuts and how badly do you want out of it? Or perhaps you just want a bit more time off now? Either case the decision is partly a math exercise of you need to either save or make X amount to live, do you want to earn that all at once or spread it out?
So for me there are times when I’m firmly in the idea of getting out as soon as possible, while other days I like the idea of working for a bit more so I don’t have to as much later on. What I’ve always struggled with is making that choice? What do I really want on average? Also how do I deal with my ‘get out now’ days once I can pull the pin?
While I don’t know the answers to these questions, it should be interesting to work through them in the next few years. So did semi-retirement ever appeal to you? If so, why or why not?