Here's what it generally implies:
* Reduced work hours: Semiretired individuals usually work fewer hours than they did before, perhaps part-time, freelance, or consulting.
* Less responsibility: They often take on less demanding roles or projects, allowing for more leisure time.
* Phased transition: Semiretirement can be a gradual step towards full retirement, helping individuals adjust to a less hectic lifestyle.
* Financial flexibility: It allows for a balance between earning income and enjoying free time.
Examples of semiretirement:
* A teacher who works part-time after retirement to stay engaged.
* A lawyer who takes on fewer clients and focuses on consulting.
* A business owner who sells their business but remains involved in a consulting capacity.
Overall, semiretirement is a personalized approach to retirement that allows for a smooth transition and provides flexibility in work and life.