We see people take "mini retirements" or "rolling retirements." They're no longer working up to a certain day, quitting and never picking up another job or role again. As they enter this new stage in life, they simply change what they want to do. And they're free to do so because, again, they already did the work of saving and investing for the future.
So they're no longer reliant on making a certain amount of money, which frees them to pursue opportunities that capture their interest or imagination, even if it doesn't come with the big salary they needed during their working years. Doing retirement this way means you're still free from the 9-to-5 grind but instead of transitioning into a sedentary, quiet life, you remain engaged in your passions and interests.
It's a benefit to your mental and physical health. It can also boost your fiscal health, too. The other upside of continuing to do some kind of work is that it brings in some kind of income. That can alleviate the extreme pressure to save every penny you'll need in "retirement" before you get there and provides you with more options and freedom once you move into this stage of life.
(Editor's Note: This column originally appeared at Investopedia.com.)
— By Eric Jansen, founder, president and CIO of AspenCross Wealth Management