Flexible Retirement in 2022

Flexible Retirement: An Increasing Trend

Contributors: Nicola Date, Katherine Read. Reviewed by Francis Hui

The Idea of Retirement Has Been One That Is Typically Associated With a Fixed Age. In Recent Years, However, the Number of People Who Are Planning to Retire at an Earlier Than Usual Age Has Grown Rapidly. Read on to Know Why!

Before You Start Reading...

How Much Can You Release? 👇

 

Equity Release Calculator

Value of Your Home?

50000

Drag me

🔒 100% Safe & Fast

Featured In
yahoofinance marketwatch

Is Flexible Retirement Trending in the UK? If So, Why?

The future of retirement is looking brighter, as more and more people are planning for flexible retirement.

Planning a flexible retirement is becoming more and more popular.

Many people are realising that they don’t want to be stuck in the same job for 30 years just because it’s what society expects of them, and instead prefer to enjoy their retirement however they want.

Retirement doesn’t always mean the end of a career.

More and more people are planning a flexible retirement with some sort of work or volunteer activity they enjoy.

In this post, we will discuss the growing trend in flexible retirement and how it can help you make sure your golden years are not only enjoyable but also financially secure.

What Is a Flexible Retirement?

A flexible retirement is a type of retirement that allows people to retire when they want, not just at the traditional age.

This has been made possible by more and more companies offering phased-retirement1 options.

According to the Standard Life Aberdeen 2021 research, 56% of this year’s retirees want to take a phased or flexible approach to retirement.

27%, which is nearly 1 out of every 4 people looking forward to what’s next with retirement plans, don’t seem intent on giving up working completely. Most intend only a shift towards more flexible hours.

19% would like to help other organizations by volunteering while the majority are happy working for someone else, 6% wish they could be in charge and want to start their own business.

Retirees in 2022

It was discovered that 34% UK citizens continued working in some capacity, while 21% are considering returning to work part-time after previously leaving their positions.

Some people felt it would be beneficial for them to find a job with flexible hours. Only 2% of those who retired last year are considering going back to work full time.

The days of everyone having a specific date or age beyond which they will never work again are long gone.

Instead, there is a noticeable rise in the number of people opting for flexi-retirement and continuing to work.

Whether it’s a financial or emotional decision, how you retire will entirely depend on what’s best for you.

It’s clear that the pandemic2 has fuelled a new trend in retirement.

Retiring as soon as possible is now an understandable decision,

But some of last year’s retirees are having second thoughts about returning to work after being stuck at home during lockdown for so long.

Many people view retirement as a time to enjoy themselves, and with constraints gradually being lifted, many will prepare for the retirement they had envisioned.

Whether that is traveling the world or spending more time with family members or even continuing to work part time, there are no limits on what you can do in your golden years.

Common Questions

What Age Can You Take Flexi Retirement?

Is Flexible Retirement a Good Idea?

In Conclusion

There are many reasons to plan for flexible retirement. With more people planning on retiring later in life, the potential is there to work longer and save more money.

If you’re feeling unsure about how you can afford an enjoyable retirement,

Be sure to seek expert advice from financial professionals who have helped their clients achieve success during this time of uncertainty.

Reference:

  • www.mortgagestrategy.co.uk/news/growing-numbers-are-planning-a-flexible-retirement

Editorial Note: This content has been independently collected by the SovereignBoss advisor team and is offered on a non-advised basis. Sovereignboss may earn a commission on sales made from partner links on this page, but that doesn’t affect our editors’ opinions or evaluations. Learn more about our editorial guidelines.

rachel w

Rachel Wait
Personal Finance Journalist

Rachel is an experienced finance journalist and editor with a particular interest in personal finance and consumer affairs. She has vast experience writing about money issues, property, insurance, and consumer affairs, and you’ll find her articles regularly featured in top media and newspaper publications.
John Lawson

Written by
John Lawson
Founder SovereignBoss

John is passionate about education and has made it his life-long mission to assist UK citizens on their future financial options, with a specialist interest in equity release, and SovereignBoss is the natural extension of this passion.
francis

Reviewed by
Francis Hui
Senior Risk Manager

Having held various high-level roles across the industry, Francis is truly an expert in aiding UK citizens in their financial decisions and risk analysis. His unique insight and statistical knowledge make him the perfect person to help you take your financial future to the next level.
kath icon

Katherine Read
Consumer Affairs Writer

Since joining the editorial team at SovereignBoss, Katherine has become focused on bringing transparency to finances and opportunities for those approaching retirement age. She writes on the topics of equity release, home reversion, and mortgages.
nicola

Nicola Date
Writer & Journalist

Nicola is a financial writer for SovereignBoss and is passionate about the opportunities that equity release can open up for homeowners. Her extensive business experience and deep understanding of the industry means that she’s always up-to-date with the latest developments.

See How Much You Can Release 👇

Use the QUICK form below.

 

Equity Release Calculator

Value of Your Home?

50000

Drag me

🔒 100% Safe & Fast

As Featured In
yahoofinance marketwatch