Un-Retirement - Is it Right For You?

We’ve been talking so much about The Great Resignation recently. But today I’m focused on looking at a new trend.

What is it? It's un-retirement. Yes, un-retirement. The most prominent example of this is Tampa Bay Buccaneers Quarterback Tom Brady. He announced his retirement and then told us 40 days later that he's back to work. Essentially, he un-retired.

But how does unretirement play out in the workforce?? A recent analysis by Indeed, found that people are un-retiring at the highest rate since the before pandemic started. In February, 2022, retirees who un-retired hit its highest mark since the start of COVID with that number increasing from 2% to 3% according to the analysis.

Why are these former retirees coming back to work?? A Wall Street Journal article pointed to the fact that these retirees simply had retired too early. For example, for some, they watched their home values, their investments and everything was going up, so they retired.? For others, they decided they just didn’t want to deal with COVID concerns or having to work in a remote workplace so people in that group also retired.??

The same Wall Street Journal article interviewed several people who decided to rejoin the workforce after retiring to learn their reasons why.? The first person that they featured was a? 58-years-old man who had been working in operations for a utility company in Michigan. Before COVID hit, he enjoyed driving from company location to location where he was out and about seeing people. He started meeting with people virtually and he hated it! He decided to retire and he ended up buying a sports-related franchise.. This business re-energized him to the point where he started doing consulting as well. He is running the franchise in a semi-passive/semi-absentee manner so he could carve out the time for consulting.? He was working the same amount of hours as he did in his job, but now he has control over his schedule. He can do what he wants to do, when he wants to do it.

Another example is a client of mine who retired from Ford.? He came back from retirement a couple of years later to help his daughter get a business started during the Great Resignation. They now have a growing Floor Coverings International franchise.??

There are several other examples as well. In the Wall Street Journal article, one person said that they felt wrong not working.? Another person said that he rejoined the workforce because he missed “wheeling and dealing.”? Another person wanted more flexibility.?

What about Tom Brady? What did he say? Well, he told reporters that he came back because he wants to win!

If you are somebody who wants to win and un-retire, I'd love to talk to you about the option of unretiring to become a franchise owner as a semi-passive or full-time owner.

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