Keep your options open after retirement – à la Roger Federer, Serena Williams and Tom Brady

Americans across the country — many of whom are celebrities — are jumping on the “non-retirement” trend, in which they leave the workforce only to come back. Anyone planning to retire should consider this option as a backup no matter how sure they are of their plans.

Retirement Tip of the Week: Whether you’re retired or just about to retire, keep your options open in the next chapter – explore alternative income streams, stay connected in professional networks, learn or keep Contribute to your skills and rule out ever working again.

Some of the best-known athletes have demonstrated the popularity of “not retiring” while many older workers have returned to the labor market after retiring at the height of the pandemic.

Serena Williams, who previously said the recent US Open would be her last, nodded to the idea of ​​returning to tennis one day during an interview on The Tonight Show Starring Jimmy Fallon. When the talk show host asked if Williams would pull a “Tom Brady,” referring to the quarterback who retired after the 2021 season and decided to return to football shortly thereafter, Williams said Brady had “one.” amazing trend” started. She mentioned Brady again during “Good Morning America” ​​when asked if she would ever return to her beloved sport.

See: Retirement has a new face — and that’s Tom Brady

Roger Federer, a 20-time Grand Slam tennis player, also announced his retirement. Federer hasn’t hinted at returning to the sport yet. In fact, he said in his suicide note that he’s listening to his body’s limits after multiple injuries and surgeries, but he’s already secured income streams in retirement. Federer, who has been world No. 1 for five seasons, has a 10-year, $300 million deal with clothing brand Uniqlo and an investment in Swiss footwear company On ONON.

For many Americans, returning to work after retirement is a result of not having enough savings for retirement. During the pandemic, some workers have been forced into retirement, either due to layoffs or fear of the long COVID-19 when working on the front lines, for example. An analysis found that the pandemic had caused more than 3 million Americans to retire earlier than expected.

For other people, returning to work is a way to stay active. When news of William’s retirement first broke, the tennis star said the retirement brought her “no luck”.

Read MarketWatch column “The View From Unretirement”.

Not sure if you’re someone who will “dissolve” one day? There’s still a lot to think about: for example, do you want to return to the industry you left or try a whole new field? Anyway, keep your skills up to date by things like taking classes at the local library, reading new books and journals on the subject, and branching off from what you already know. Keep in touch, even if you meet only occasionally with experts in your field or old colleagues.

“Retirement” doesn’t have to mean returning to a full-time job, either. For Richard Eisenberg, a MarketWatch columnist and co-host of the Friends Talk Money podcast, this chapter is for a mixture of downtime and travel with freelancing and mentoring. Some of the keys to his “unretirement” were understanding his finances, like creating a budget that takes the next few years into account and learning how to say no to opportunities he didn’t want to pursue. Keep your options open after retirement – à la Roger Federer, Serena Williams and Tom Brady

Brian Lowry

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