A quieter opportunity in retirement planning

Most people I speak to aren’t planning to work forever. But they’re also not entirely comfortable switching work off overnight either.

And that’s where an interesting shift is happening.

Australia is dealing with a shortage of workers, yet there’s a large group of experienced people who could still contribute - if the settings were right. KPMG recently estimated that lifting participation in older workers could add around $29 billion to the economy each year Source: Untapped older workers could add $29 billion to Australian economy

That’s a big number, but the more relevant takeaway is what it says about retirement today. The old idea of working full-time one day and stopping the next is starting to feel outdated.

A more realistic way to think about retirement

Rather than a hard stop, what I’m seeing more often are what I call the transition years.

It’s a gradual shift, not a single decision.

And importantly, it’s not just something that happens in your late 50s or early 60s. For many clients, this transition extends well into their mid‑60s and beyond. Some continue part-time work even into their 70s - not because they need to, but because it suits them.

For most, it looks something like this: full-time work gradually shifts to part-time or something more flexible, before eventually stepping away altogether. Along the way, how life is funded evolves as well - starting with wages, then a mix of wages and super, and later drawing more from super and potentially Centrelink.

It becomes less about a single point in time and more about how you move through each stage.

What this means in practice

This isn’t about working longer for the sake of it. It’s about having options and staying in control.

Even a modest income for a few extra years can take pressure off your super, extend how long your savings last, and give you more flexibility in how you slow down. In many cases, it also gives clients permission to enjoy their money a little more - booking that European holiday or doing the trip they’ve been putting off, knowing there’s still something coming in.

But just as important - and often overlooked - are the non-financial benefits.

For a lot of clients, part-time or casual work isn’t really about the money. It’s about staying connected, having some structure in the week, and getting out and having a go at something. It keeps you engaged, gives you purpose and maintains that social interaction that can quietly fall away when work stops completely.

It’s not for everyone, but for many clients I work with, there is a sense they’ve still got more to give - they are just looking for a different way to contribute. Sometimes that’s a job and sometimes it’s something more flexible.

I would like to see clients explore small, low-cost business ideas from home. The barriers to entry are lower than ever, with plenty of tools offering free or low-cost starting points. It becomes less about whether it’s possible and more about what’s stopping you.

It really comes back to a simple idea - getting to a point where you’re working because you want to, not because you have to, and doing it on your terms.

It’s about getting the mix right

One of the biggest shifts I see in practice is that there’s no longer an “average” retirement.

Everyone has their own story, their own preferences, and their own pace. Some step away earlier. Others keep a foot in well into their later years. Most fall somewhere in between.

So the question has changed.

It’s no longer just “When do I retire?”

It’s “What’s the right mix of work, income and lifestyle for me?”

And getting that mix right over the transition years is where good planning really makes the difference.

And just to be clear - I’m not suggesting those who are already fully retired should suddenly dust off the résumé and head back to work.

But for those in that in‑between stage, the transition years can open up more options than you might think.