Retirement costs millions of dollars, and a lot of people aren't able to save what they need throughout their careers, try as they might. Others aren't sure about whether they want to retire. They worry they'll lack a sense of purpose and meaningful connections with others after leaving the workforce.

Phased retirement could be the answer for both types of workers. Here's a closer look at the different ways you could approach phased retirement and how to decide if it's right for you.

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Source Fool.com