Preferment, as Rarified Life defines it
Preferment is an active, purpose-driven alternative to traditional retirement for high achievers redesigning life after 50. Rarified Life uses it to help people align future plans with personal values and cultivate meaningful pursuits beyond their careers. The word means advancement or promotion, and that is the intent: the years after a career are treated as an ascension, not a wind-down.
Preferment does not require a five-year plan, a finished retirement date, or anyone’s permission. It is designed to be started while you are still working and continued as your schedule opens up.