By Maggie Murphy     

Before taking a family photo, time is devoted to staging the event: Outfits, landscape, symmetry, etc. These same principles can be applied to staging your retirement picture: Check investment accounts, remaining debt load, draft a retirement budget, and an often forgotten task, reflect on how time will be spent in retirement. While the majority of retirement planning focuses on building wealth, have you thought about how you will occupy your time? You might even discover that you can retire sooner than expected. However, what if you enjoy the daily grind? You may want to explore semi-retirement, recreational employment, or volunteering. 

As retirement approaches, you might reach the point where some extra income is required, but you no longer need to work full-time. According to a recent research study, over half of the American workforce plans to transition into semi-retirement, experiencing the best of both worlds, additional income in retirement paired with increased time off. Perhaps you work in a field where your skills and expertise would be valued on a part-time basis:

  1. Consulting – Some careers build a level of expertise that is in demand as a consultant across the industry.
  2. Job sharing – While not as common today, job sharing creates two half-time positions, fulfilling a full-time role.
  3. Temporary full-time – Many careers have a busy season where you might only need to work full-time for a couple of months but can work reduced hours for the remainder of the year. 

Some workers may no longer need or wish to continue their chosen career but are looking for something to occupy their time while generating a small income stream. You can join the ranks of the recreationally employed by expanding a hobby into part-time employment. This extra income can fund special trips and extras for the grandkids or ease withdrawals from retirement accounts. Here are a few ideas:

  1. Future florist – If you enjoy working with flowers and creating beautiful arrangements, you could work a day or two each week with a local florist. 
  2. Workout warrior – If exercise is part of your regular routine, you could work at the gym a couple of times per week and actually get paid to exercise! 
  3. Garden guru – If you grow a garden each year, you could offer this bounty at the local farmers market or a small roadside stand.

“The essence of life is to serve others and do good.” – Aristotle.

Many retirees prefer to form a clear separation between their working and retirement years but still want to give their time helping others. According to Volunteer Hub, around 25% of Americans volunteer an hour or so weekly. Retired volunteers often discover that while helping others, they help themselves, building a community and a healthy transition from employee to volunteer. Your talents and interests could develop into meaningful volunteer experiences:

  1. Museum or historical society – Share your passion for art or history by serving as a docent. 
  2. Library – Share your unique talents with the local community: Start a chess club, offer math tutoring, or lead a children’s reading program.
  3. Senior center or veteran’s group – You can assist with meal preparation, join a morning coffee and conversation, or inquire about creating an event.

In conclusion, a healthy retirement should include plans for your next adventure. Remember, financial planning represents only one section of your retirement picture. You should put just as much thought into how you will spend your time in retirement as you do your working years. As retirement appears on the horizon, take the time to properly stage this important picture.


Maggie Murphy is a lifelong Michigander and graduated from Hillsdale College. She works as an educator and writer who also enjoys performing Irish, Scottish, and Americana folk music, attending book clubs, and running a small farm with her husband.