Other retirees could take Tom Brady’s cue and return to the workforce
Tom Brady from the Tampa Bay Buccaneers wave to his fans at Raymond James Stadium (Tampa, Florida) on Sept. 9, 2021.
Julio Aguilar | Getty Images
Tom Brady watched the games for just 40 days, before making his decision to quit pro football.
The possibility exists that other retired workers might do the exact same thing, according to researchFrom the Center for Retirement Research at Boston College.
Brady is certainly not the average retired person. At just 44, Brady was still the most famous quarterback in the world. oldest playerEntering the 2021-2022 NFL Season.
Brady is available for Sunday. announced he will come backPlay another season with the Tampa Bay Buccaneers
The Center for Retirement Research estimates that there are approximately 15 million individuals who have retired between the traditional retirement age of 55 and 70.
Only a few people have made the decision to change their mind and go back to work in recent years.
It is possible that recent trends will help attract more retirees back.
Jan. 12: There were more job openings than available workers. almost 5 millionAccording to most current government data:
Many companies are opening new offices and making hybrid work possible for employees who don’t want to go back to traditional preandemic hours.
To estimate how many retired workers could return — or “unretire” — the Center for Retirement Research evaluated data from the Current Population Survey to evaluate trends over the past few decades.
According to this data, 1.9% more people could retire now than they normally would. This is equivalent to 300,000. The Center for Retirement Research stated that this is only a fraction of the shortage of approximately 4 million workers.
According to the data analysis, between 5% and 8% of retired workers will change their mind the following year.
Matt Rutledge, Research Fellow at the Center for Retirement Research, said that this rate tends to remain constant in periods of economic booms.
Rutledge stated, “It is not that they are unretiring simply because they have to make money.” It’s not that they are unretired, it’s that that was part of their plan.
You might decide they aren’t the right person to golf with or care for your grandchildren. Maybe they decide that there is more they can do for their career, much like Brady.
It will be interesting to see if the rate currently being used will exceed the usual number of people who return to work every year.
Rutledge indicated that it would not surprise him if there was a greater number of retirees returning to work after retirement. This is because the Covid-19 epidemic has changed so much.
Rutledge explained, “There’s lots of very productive people just sitting there waiting,”
It would be shame for them not to come back. It would be shame to waste this talent. I believe that is true across the entire age range.