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Semi-retirement a popular option among seniors

October 1, 2013

The concept of retirement has changed considerably in recent years. Moving straight from the workforce to senior living is no longer the preferred method of retiring, and a recent study from HSBC and Cicero Group revealed how prevalent the idea of a semi-retirement is. Researchers found that 19 percent of respondents between 55 and 64 consider themselves to be semi-retired, while 32 percent want to try semi-retirement before fully leaving the workforce. 

There are many reasons why the concept of semi-retirement is so appealing to seniors. For instance, 41 percent said they want to keep working simply because they like their job, while 51 percent are looking for a way to stay mentally active and engaged during retirement. Whatever the reason, experts say it's often hard for seniors to walk away from a job in which they have invested so much of their time.

"One of the things that's hard for people when they leave work is they often go through a period of identity confusion and loss around this," Marci Alboher, vice president of, told U.S. News and World Report. "Making that change gradually might be able to reduce some of that, and you may be able to use some of your free time to do some experimenting to see what you want to do next."

The workplace has already seen an influx of older workers. According to the Bureau of Labor Statistics, the number of adults 65 and older in the work place grew by 101 percent between 1977 and 2007.