Transitioning to Part-Time Work


Transitioning to part-time work can happen for many reasons, staying home with kids, pursuing a passion project, or enjoying hobbies. Whatever your reason is, here are some things to think about as you transition to part-time work.


Readjust your budget so that you are still meeting your retirement goals when you adjust to part-time work. Follow the 80/20 budgeting method or a similar combination, to make sure you are on track for retirement. With less income coming in, you may have to shift around your “wants” to stay on track.

If you aren’t sure where you stand for retirement planning, you can always meet with a certified financial planner to review your finances.

Secure Health Benefits

Most part-time jobs do not offer healthcare benefits. If you are transitioning from a full-time salary position with benefits, this will most likely be the highest cost when moving to part-time work. To avoid being uninsured, you want to evaluate your healthcare options in advance.

Healthcare options:

Employer-sponsored – employer-sponsored healthcare is usually the least expensive way to secure healthcare benefits. If transitioning to part-time means losing healthcare benefits, see if you can join your spouse’s plan, if that’s an option.

Individual Market – If you lose healthcare coverage, you can apply for individual or family coverage from the healthcare marketplace or directly from health insurance providers.

Medicare Coverage – Medicare coverage is a federal health insurance program covering American citizens age 65 or older.

Medicaid Coverage – Medicaid is a joint federal and state program available for low-income families, qualified pregnant women and children, and individuals receiving Supplemental Security Income (SSI) and others who qualify.

Consider Job Options

If your current employer doesn’t allow you to work part-time or have a flexible schedule, consider other options. Taking on a few contracting roles may be a better option that better meets your needs. Transitions are a time to take a step back and evaluate your life to make sure you are on the right path.

Have a Plan

The most successful transitions are the ones that are thought out. Think about your current needs, wants, and goals and write them down. Communicate with your household and make sure you are on the same page and have an understanding of what to expect as your transition to this new chapter in your life.