Weekend Reading: Retirement Phases: Definition, Examples, and Planning Tips

This article appears as part of Casey Weade's Weekend Reading for Retirees series. Every Friday, Casey highlights four hand-picked articles on trending retirement topics and delivers them straight to your email inbox. Get on the list here.
240322 WRR 311 Retirement Phases 240322 WRR 311 Retirement Phases
Weekend Reading

Retirement is a complex journey comprising various phases, each with its own challenges and rewards. Financial planners categorize retirement into three basic phases: early active, settled, and late retirement. Sociologist Robert Atchley proposed a more detailed framework consisting of six phases, from pre-retirement to routine. Each phase presents unique benefits and drawbacks, emphasizing the importance of financial planning and emotional well-being throughout retirement. Additional perspectives include psychological phases and cultural influences on retirement experiences. Understanding these phases and considering factors such as social security, financial risks, tax considerations, and healthcare coverage can help retirees navigate their retirement journey effectively.


Key Takeaways:

📌 Retirement includes multiple phases, each with unique challenges and opportunities. Understanding these phases can help retirees better navigate transitions.

📌 Effective retirement planning involves both financial preparedness and emotional readiness.

📌 Seeking professional advice and support can enhance retirement planning outcomes and overall retirement satisfaction.