v THE NEXT HERALD IS OUT ON 1ST AUGUST v Page 68 • The HERALD • 11th July 2024 ASK A PROFESSIONAL The Rising Trend of UNRETIREMENT!! by Michael Osman, Oyster Financial Planning Did you know that 14% of those aged over 55 found themselves re-entering the workforce? A lot of this is down to inadequacy of their retirement savings. We also see lots of people returning to work having previously retired because frankly they are ‘bored’ or ‘unful lled’ in retirement. Moving from full-time work and maybe working 40 hours a week to a life where you not only have to replace those 40 hours with life enriching, ful lling and meaningful pursuits there is also the fact that there are 168 hours to ll every week. A lot of this time is spent sleeping, granted but this trend is following a pattern that has been forming in the US. e feeling in the US is that there is a bit of a brain drain going on, talented, knowledgeable and experienced employees retiring and then not being adequately replaced as there is less appropriate talent coming through. So, it is not just for nancial reasons people are UNRETIRING, it’s to maintain their mental happiness as well. Still wanting to be involved, exercising the grey matter and not just settling for the usual retirement lifestyle. From a nancial planning perspective I would recommend people carefully consider when they want to stop doing what they currently do to earn a living. It might be that moving away for the higher paid, stressful 40 hour a week career to a less stressful, less nancially lucrative yet more enjoyable employment could be the way to secure your desired lifestyle in retirement. Having a plan to slow-down yet pro-long the working life so putting less stress on your retirement savings as less would be needed initially because you were still earning in an enjoyable way is a great way of getting the retirement that you deserve. If you are worried about inadequate retirement savings or indeed just the impact of slowing down work wise or even unretiring and want to know more get in touch with us at Oyster to see how we can help you see a happier, less stressful path. Pop in and see us in Hythe village or call: 023 8084 8410 or email: michael@ oyster nancialplanning.co.uk Michael Osman, Oyster Financial Planning
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