One of the drawbacks with retirement is not having enough capital to sustain you in your golden years. It's a real issue which many don't seem to understand until it's almost too late.

Phased retirement has emerged as a real answer to this ongoing problem especially for people with hard to replace skills in the work force. By hard to replace skills, we mean having developed an expertise in a particular area of your profession which an employer will find difficult to replace in a hurry.

This puts you in a good position. How? Well, if your expertise is going to be missed, then the chances you'll be asked to stay on are strong.

Why Would You Want To Work In Retirement?

One of the biggest issues for American retirees is the on going cost of maintaining a lifestyle they've become accustomed to. When the income stops, so do some of the perks. This is especially so for those who have been careless with their retirement planning.

Healthcare costs are just about the biggest issue for people in their retirement years, as health care is usually a necessity later in life.

Phased retirement is basically an arrangement between you and your employer which will see you able to work well past retirement age. However, it more than likely won't be in a full time capacity but is seen as a win-win situation for both you and your employer.

At the moment, there doesn't seem to be anything set in concrete about phased retirement which is the official guide so to speak.

Phased retirement practices are a little diverse at the present time and while some industries are unofficially practicing it, the real crunch will come when the baby boomer generation starts to exit the work force from around 2010 and beyond.

Self employed people can also look into PR arrangements. If you have a business and plan to sell it at retirement age why not consider staying on in a part time capacity if an arrangement can be struck with the new owner. This is an appealing option for those who want to continue adding some meaning and purpose to their lives.

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