Planning a Semi-Retirement with These 3 Strategies

Enjoyment after retirement is one of the most significant benefits of being employed. However, planning and preparing for this period is the key to achieving your dreams.

For years, most workers believed in working hard and earning their income which they thought they could have saved for retirement. The ideology worked for some years, but as time and things changed, this theory was modified, thus leading to insufficient savings for retirement.

New plans that aid retirement have been introduced to the system in recent years. The 401(k) is an example of such a retirement plan. The semi-retirement plan is one of the plans that help reduce your working hour. It gives time for other things to increase your income or fulfill your passion before you fully retire.

Semi-retirement is one of the best options for you if it is an available offer from your employer. It gives you another opportunity to decide what you want to do with your time and how to plan for your retirement.

Assess your employment options

When considering the semi-retirement plans, there are numerous employment options to be considered. Firstly, find out if your company has plans for a semi-retirement plan because not all employers offer these plans. After finding out, seek your employer’s permission to know if the method can work for you and not affect your job.

With so many options from the semi-retirement plans, you can decide whether to seek another short-term employment or not to increase your income. You could offer free service in a part-time role to fulfill your passion or start a business to achieve your dream, and you have more funds and time to sort out what you can lean on after you retire.

How to create a retirement income stream

Suppose you want a comfortable lifestyle after retirement. In that case, there are some steps you can embark on now to earn a suitable transition to the semi-retirement life.

Financial budget

The partially retired life is another phase that should be well planned before the change. Check your financial budget and see your income and expenses to prepare for the financial aspect with the help of your financial advisor. This will help you have a financial record during your semi-retirement and have a retirement account to live within your limit.

For instance, if you start taking Social Security during your partial semi-retirement life and are making more than the amount laid out by the Social Security Administration (SSA), you will get a reduction in your benefits. As of 2022, the reduction amount is $19,560.

Also, if you are thinking of claiming your Social Security benefits at age 62, you should look into some facts; the longer the years of waiting for the benefit, the more significant the payment amount you receive each month. At age 70, those benefits will not increase anymore, so it’s not advisable to wait longer.

Will inflation derail your retirement plan?

It would be best if you answered this particular question before the transition. As you look into other factors, consider your healthcare costs. Working in a company of 20 or more employees, you can take advantage of your company’s healthcare plan. Using your employer plan could give you some financial helping hands. Since Medicare primarily covers the primary healthcare needs such as medications, dental & optical care, and even long-time care.

Suppose you work in a small company with less than 20 employees. In that case, you need to apply for Medicare because your employer’s health insurance could not cover all your medical expenses. After 65 years of age, Medicare and your employer’s insurance scheme will cover your medical fee.

Contact Information:
Email: aaron@steelecap.net
Phone: 3604642979

Bio:
After entering the financial services industry in 1994, it was a desire to guide people towards their financial independence that drove Aaron to start Steele Capital Management in 2013. Armed with an extensive background in financial planning and commercial banking coupled with a sincere passion for helping people, Aaron has the expertise and affinity for serving the unique needs of those in transition. Clients benefit from his objective financial solutions and education aligned solely with
helping them pursue the most comfortable financial life possible.

Born in Olympia, Washington, Aaron spent much of his childhood in Denver, Colorado. An area outside of Phoenix, Arizona, known as the East Valley, occupies a special place in Aaron’s heart. It is where he graduated from Arizona State University with a Bachelor of Science degree in Business Administration, started a family, and advanced his professional career.

Having now returned to his hometown of Olympia, and with the days of coaching his sons football and baseball teams behind him, he now has time to pursue his civic passions. Aaron is proud to serve on the Board of Regents Leadership for Thurston County as the Secretary and Treasurer for the Morningside area. His past affiliations include the West Olympia Rotary and has served on various committees for organizations throughout his community.

Aaron and his beautiful wife, Holly, a Registered Nurse, consider their greatest accomplishment having raised Thomas and Tate, their two intelligent and motivated sons. Their oldest son Tate is following in his father’s entrepreneurial footsteps and currently attends the Carson College of Business at Washington State University. Their beloved youngest son, Thomas, is a student at Olympia High School.

Focused on helping veterans and their families navigate the maze of long-term care solutions, Aaron specializes in customized strategies to avoid the financial crisis that care related expenses can create. Experience has shown him that many seniors are not prepared for the economic transition that takes place as they reach an advanced age.

With support from the American Academy of Benefit Planners – an organization with expertise and resources on the intricacies of government benefits – he helps clients close the gap between the cost of care and their income while protecting their assets from depletion.

Aaron can help you and your family to create, preserve and protect your legacy.

That’s making a difference.

Disclosure:
Disclosure:
Investment advisory services are offered through BWM Advisory, LLC (BWM). BWM is registered as an Investment Advisor located in Scottsdale, Arizona, and only conducts business in states where it is properly licensed, notice filed, or is excluded from notice filing requirements. BWM does not accept or take responsibility for acting on time-sensitive instructions sent by email or other electronic means. Content shared or published through this medium is only intended for an audience in the States the Advisor is licensed in. If you are not the intended recipient, you are hereby notified that any dissemination, distribution, or copy of this transmission is strictly prohibited. If you receive this communication in error, please immediately notify the sender. The information included should not be considered investment advice. There are risks involved with investing which may include market fluctuation and possible loss of principal value. Carefully consider the risks and possible consequences involved prior to making an investment decision.

Confidential Notice and Disclosure: Electronic mail sent over the internet is not secure and could be intercepted by a third party. For your protection, avoid sending confidential identifying information, such as account and social security numbers. Further, do not send time-sensitive, action-oriented messages, such as transaction orders, fund transfer instructions, or check stop payments, as it is our policy not to accept such items electronically. All e-mail sent to or from this address will be received or otherwise recorded by the sender’s corporate e-mail system and is subject to archival, monitoring or review by, and/or disclosure to, someone other than the recipient as permitted and required by the Securities and Exchange Commission. Please contact your advisor if there are any changes in your personal/financial situation or investment objectives for the purpose of reviewing/evaluating/revising our previous recommendations and/or services. Additionally, if you change your address or fail to receive account statements from your account custodian, please contact our office at compliance@bedrockia.com or 800-779-4183.

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After entering the financial services industry in 1994, it was a desire to guide people towards their financial independence that drove Aaron to start Steele Capital Management in 2013. Armed with an extensive background in financial planning and commercial banking coupled with a sincere passion for helping people, Aaron has the expertise and affinity for serving the unique needs of those in transition. Clients benefit from his objective financial solutions and education aligned solely withhelping them pursue the most comfortable financial life possible.Born in Olympia, Washington, Aaron spent much of his childhood in Denver, Colorado. An area outside of Phoenix, Arizona, known as the East Valley, occupies a special place in Aaron’s heart. It is where he graduated from Arizona State University with a Bachelor of Science degree in Business Administration, started a family, and advanced his professional career.Having now returned to his hometown of Olympia, and with the days of coaching his sons football and baseball teams behind him, he now has time to pursue his civic passions. Aaron is proud to serve on the Board of Regents Leadership for Thurston County as the Secretary and Treasurer for the Morningside area. His past affiliations include the West Olympia Rotary and has served on various committees for organizations throughout his community.Aaron and his beautiful wife, Holly, a Registered Nurse, consider their greatest accomplishment having raised Thomas and Tate, their two intelligent and motivated sons. Their oldest son Tate is following in his father’s entrepreneurial footsteps and currently attends the Carson College of Business at Washington State University. Their beloved youngest son, Thomas, is a student at Olympia High School.Focused on helping veterans and their families navigate the maze of long-term care solutions, Aaron specializes in customized strategies to avoid the financial crisis that care related expenses can create. Experience has shown him that many seniors are not prepared for the economic transition that takes place as they reach an advanced age.With support from the American Academy of Benefit Planners – an organization with expertise and resources on the intricacies of government benefits – he helps clients close the gap between the cost of care and their income while protecting their assets from depletion.Aaron can help you and your family to create, preserve and protect your legacy.That’s making a difference.

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