There’s a growing trend—and need—for flexibility in what retirement looks like. Gone are the days of a strict cutoff at age 65, with a cruise to celebrate and quiet years to follow. As lifespans stretch and priorities shift, a traditional concept of retirement is being replaced by something much more nuanced: semi-retirement. In this episode of The Retirement Readiness Podcast, hosts Katie Umland and Tim Regan explore how to make this transition intentional and meaningful—sharing relatable stories, practical tips, and financial insights along the way.

Why Choose Semi-Retirement?

For many, the idea of gradually stepping back from full-time work—rather than going cold turkey—isn’t just appealing, it’s necessary. As Katie points out, some people question if their “nest is feathered enough,” feeling the need for supplemental income or a continued sense of security. Others are motivated by dreams that were put on hold or want to avoid being home 24/7. There’s also a huge question of identity: after decades in the workforce, work has often been closely tied to a sense of purpose and belonging.

But semi-retirement isn’t just about finances or staying busy. It opens an opportunity to reshape your daily life, reprioritizing what truly brings happiness. As Tim jokes, sometimes it’s about not spending all your time with your spouse, keeping both routines and relationships healthy!

Designing Your Post-Career Life (Not Just Your Job)

One of the podcast’s key takeaways is the importance of designing your semi-retired life holistically—not just deciding how you’ll earn income, but how you want your days to feel. Katie encourages listeners to make a broad list, ranking everything you currently do—from professional responsibilities to household chores. Ask yourself: what do you love, and what would you shed if given the choice? What energizes you, and what drains you? Starting with these questions can help shift your mindset away from “shoulds” and towards crafting a lifestyle that matches your evolving values.

This intentional approach spills into the domestic sphere too. As routines change, so does the division of household labor. Maybe you’ve fallen into traditional “blue jobs” and “pink jobs,” but as you both move toward retirement, it’s a perfect time to renegotiate roles. Could you outsource certain tasks—like hiring someone to manage laundry or clean before family gatherings—so you can reclaim time for what truly matters?

The Window of Opportunity in Consulting

For those contemplating consulting or freelance work in retirement, timing is everything. Katie notes that the window to leverage your expertise as a consultant is “extremely narrow”—industry contacts move on, and technology or practices change quickly. She suggests striking while the iron is hot and being proactive about the network and skills you’ll need.

Financial Implications: It’s About Lifestyle, Not Just Tax Brackets

A big anxiety about semi-retirement relates to taxes and Social Security. The reality, as discussed on the show, is that your lifestyle and happiness should drive your decisions—not fear of drifting into a higher tax bracket. With planning, many financial pitfalls can be avoided. For instance, working with an employer to defer income or consulting with an advisor can help you maximize Social Security benefits and avoid surprises.

Ultimately, Katie and Tim emphasize starting with your ideal lifestyle, then working backward to structure work and finances in ways that support it.

Being Intentional with Your Time

Retirees often report being busier than ever, but is that busyness meaningful? Katie and Tim point out how easy it is to fill a day with obligations if you aren’t intentional. Instead, treat this phase as a “blank slate.” Decide in advance what truly brings you joy and purpose—whether that’s working a few shifts as a golf course starter, volunteering, starting a creative endeavor, or traveling. Say yes to what aligns with your values, and no to the rest.

Final Thoughts: Don’t “Should” on Yourself

Perhaps the greatest wisdom from this episode is to resist stories about what retirement “should” look like. The most fulfilling semi-retired lives are crafted with self-awareness, flexibility, and a willingness to try new routines. As life changes, keep updating your wishlist—and remember, every five years will pass whether you design your life or not. Better to look back and say, “I did,” instead of “I wish.”

For more resources and to explore your own retirement readiness, visit our resources, and listen to more insightful conversations on The Retirement Readiness Podcast.