Embracing Flextirement: Redefining Retirement for Baby Boomers

Baby Boomers are redefining retirement. With the rise of flexible work arrangements, there is a new trend emerging — a term coined as “flextirement.”

Unlike the abrupt departure associated with traditional retirement, flextirement allows individuals to gradually reduce their work hours, take on part-time roles, or explore entrepreneurial endeavors while still enjoying the benefits of remaining connected with the world of work. This trend is gaining popularity among baby boomers for several compelling reasons.

First, financial considerations play a significant role. Boomers face the prospect of a longer life expectancy and rising healthcare costs, making it essential to stretch retirement savings further. Flextirement provides a middle ground where individuals can continue earning income while also enjoying more leisure time.

Second, the psychological and social benefits of continuing to work cannot be overlooked. Many Boomers love their work.  And work often provides a sense of purpose, routine, and social interaction. By transitioning slowly into retirement through flextirement, individuals can continue to enjoy these positive aspects of their work lives while gradually adjusting to a new phase.

Moreover, technology has also played a crucial role in enabling flextirement. Remote work options and digital platforms make it easier than ever for Boomers to continue contributing their expertise without being tied to a traditional office setting. This flexibility empowers individuals to design a retirement that aligns with their unique goals and aspirations.

As the concept of retirement continues to evolve, flextirement represents a compelling alternative for Boomers seeking a balanced approach to their later years. By embracing flexibility and redefining what retirement means, this generation is rewriting the script on aging, demonstrating that life after full-time work can be enriching, purposeful, and personally fulfilling.

 CEO of Optima Office, Jennifer Barnes, shares her views on flextirement and details how she has incorporated it into her company policies. See article here (originally published in FORTUNE).