Does anyone quit work entirely these days? Sure. But the concept of retirement has become increasingly fluid, says Richard Johnson, of the Urban Institute. About 25% of retirees are working again in some capacity within five years of leaving the workforce, he says. At the same time, people 50 and older often downshift to less demanding types of work before ending their careers.
After working almost 30 years at the U.S. Geological Survey, "getting up at 5:30 started to get old," says Jerry McFaul of Reston, Va. Looking to kick back, he retired from his full-time gig three years ago, at age 66. Now, he spends about 10 hours a week consulting on database development, his specialty at USGS. The rest of his time is devoted to managing household projects, doing chores and playing the drums in a classic-rock band called The Second Expedition.
His wife, Lucy, 63, has been easing into retirement slowly. A dental hygienist, she has cut back her schedule from three or four days a week to a few shifts a month. "Somebody's got to work to pay his beer and wine bills," she jokes. In fact, his federal pension -- built over decades -- almost replaces his preretirement income and would keep them comfortable even if neither of them worked. Still, she has no intention of retiring altogether. "I love my patients, so it's almost like not working," she says.
From just $107.88 $24.99 for Kiplinger Personal Finance
Be a smarter, better informed investor.
Sign up for Kiplinger’s Free Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
Blurring work and retirement means blending roles and accommodating two schedules. When Lucy was working more evening shifts, says Jerry, "I had a couple of nights a week when I had to fix my own dinner." (He often resorted to takeout, he admits.) She had to adjust to having him around in the mornings, when she was used to being alone.
Still, neither is complaining about the sort-of-working, sort-of-retired arrangement. "We've slowly gone into retirement, so the shift isn't as dramatic," says Jerry.
-
Stocks Hit Fresh Highs Ahead of the Fed As Earnings Pump Optimism: Stock Market TodaySHW and UNH were two of the best Dow Jones stocks Tuesday, thanks to solid earnings reports, and MSFT closed with a $4 trillion market cap.
-
Selling Your Haunted House? What You Have to Tell Buyers (and What You Don’t)You don’t need ghosts to spook buyers, sometimes a home’s past is enough. Here’s what sellers should know about disclosure laws, pricing and perception when a property has a haunted history.
-
Amazon Resale: Where Amazon Prime Returns Become Your Online BargainsFeature Amazon Resale products may have some imperfections, but that often leads to wildly discounted prices.
-
What Does Medicare Not Cover? Eight Things You Should KnowMedicare Part A and Part B leave gaps in your healthcare coverage. But Medicare Advantage has problems, too.
-
15 Reasons You'll Regret an RV in RetirementMaking Your Money Last Here's why you might regret an RV in retirement. RV-savvy retirees talk about the downsides of spending retirement in a motorhome, travel trailer, fifth wheel, or other recreational vehicle.
-
457 Plan Contribution Limits for 2025Retirement plans There are higher 457 plan contribution limits for state and local government workers in 2025. That's good news for state and local government employees.
-
Estate Planning Checklist: 13 Smart Movesretirement Follow this estate planning checklist for you (and your heirs) to hold on to more of your hard-earned money.
-
Medicare Basics: 12 Things You Need to KnowMedicare There's Medicare Part A, Part B, Part D, Medigap plans, Medicare Advantage plans and so on. We sort out the confusion about signing up for Medicare — and much more.
-
The Seven Worst Assets to Leave Your Kids or Grandkidsinheritance Leaving these assets to your loved ones may be more trouble than it’s worth. Here's how to avoid adding to their grief after you're gone.
-
SEP IRA Contribution Limits for 2025SEP IRA A good option for small business owners, SEP IRAs allow individual annual contributions of as much as $70,000 in 2025, up from $69,000 in 2024.
