Knowing when it’s the right time to retire can be complicated, especially if you love your job.  Even professional athletes have a tough time knowing when to walk away!

These athletes thought they were ready for retirement but “un-retired” and returned to seek new challenges or extend legendary careers.  Let’s look at their non-traditional retirement stories.

After the 2022 NFL season (and after missing out on another Super Bowl), Tom Brady announced his retirement, only to roll it back about a month later.  His “retirement” barely lasted 40 days!  After reflecting on his decision, he said that the time will come when he is ready to retire, but it’s “not now.” Instead, fans can expect to see him playing for the Tampa Bay Buccaneers for his 23rd season in the NFL.¹

Michael Phelps is one of the most decorated Olympic athletes and claimed 22 medals (18 gold) when he announced his retirement in 2012.  But he dove into the pool one more time for the 2016 Summer Olympic games and went on to win six more Olympic medals, including five gold medals.  After 16 years of competing in the Olympics, Phelps announced his official retirement.  

Earvin “Magic” Johnson led a superstar NBA career and retired in 1991 after announcing that he was HIV-positive.  He then went on to play in the 1992 NBA All-Star Game (and earned the MVP award).  He played 32 games in the 1996 season and then retired for good. At least, from basketball.  Today, Johnson is an entrepreneur, and you often read of his involvement in a number of high-profile deals in a wide variety of industries.

The good news about retirement is that it’s far from the end of “work”.  It’s simply a change in circumstances.  Retirement isn’t necessarily about leisure but about using your time to pursue what moves and motivates you.  

If you’re thinking about getting back in the game, we encourage you to explore the type of work that lights you up.  Sure, you could re-enter the workforce but perhaps joining a non-profit board, participating in community arts, or volunteering could help you find meaning in retirement.  

How to Get Started
An essential first step is to engage in honest self-assessment.  Inventory your skill set and interests.  This will help identify what opportunities are the best match for you.

Decide the commitment you are willing to make.  Is this something that you want to devote 5-10 hours a week to, or are you willing to commit to more time?  Is this something you want to do locally, around the nation, or even around the globe?  Would you prefer the activity to be done individually, as a couple, or as a group?

Survey the Waters
There are plenty of resources to get a good view of the opportunities that exist. One place to start is by asking your retired friends.  Or pick charities that you support and check out their opportunities.  You also may want to take a look at the VolunteerMatch website for ideas. 

If you’re feeling like you need more structure or activities in retirement, let’s talk about paths you might consider.

Sincerely,
Your Eagle Wealth Team
 

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Eagle Wealth Competes in 44th Annual Pole Peddle Paddle

Team Eagle Wealth wasted no time in racing to the finish line at the 44th Annual Pole Peddle Paddle.  We earned 5th place in the business team category and finished with an overall time of 2 hours and 22 minutes!  

We believe performance sports are a bit like financial planning.  Both require a solid plan for success, perseverance, and a team you can trust.  Add in a little friendly competition and our Eagle Wealth team thrives.  

Check out some of our favorite action shots.  And don’t miss the video of Chad’s last-minute kick at the finish to pass the woman sporting a tutu! 

Chad at the finish line 

 

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The Week on Wall Street Recession fears grew last week following weak earnings reports from major retailers, sending stocks lower. The Dow Jones Industrial Average fell 2.90%, while the Standard & Poor’s 500 lost 3.05%. The Nasdaq Composite index dropped 3.82% for the week. The MSCI EAFE index, which tracks developed overseas stock markets, gained 0.84%.1,2,3 Trending Lower Stock prices remained in a downtrend, capped by a sell-off on Wednesday following a succession of disappointing earnings reports from several major retailers. Despite solid April retail sales and industrial production data, weak economic numbers from China and shrinking profit margins at U.S. retailers fanned recession fears throughout the week. Rising yields, which have been an overhang to the markets in recent weeks, turned lower as investors appeared to move cash to bonds from stocks. But lower yields did not help stock prices, which closed out the week with a volatile trading session.   Cloudy Picture with Retailers Investors received a mixed message from the retail sector. April’s retail sales increased 0.9% from March, signifying that consumer spending remained strong. But it was difficult to determine from the retail sales report whether the increase was a function of higher retail prices or a resilient consumer.4 It was also a big week for earnings reports from some of the nation’s largest retailers. Results were disappointing as retailers struggled with supply chain issues, higher costs, and misaligned product mix. Some retailers indicated a drop in the number of transactions, suggesting that shoppers reduce purchases due to higher prices on essential items.

THE WEEK AHEAD: KEY ECONOMIC DATA Tuesday: Purchasing Managers’ Index (PMI) Composite Flash. New Home Sales. Wednesday: Federal Open Market Committee (FOMC) Minutes. Durable Goods Orders. Thursday: Gross Domestic Product (GDP). Jobless Claims.  Friday: Consumer Sentiment. Source: Econoday, May 20, 2022 The Econoday economic calendar lists upcoming U.S. economic data releases (including key economic indicators), Federal Reserve policy meetings, and speaking engagements of Federal Reserve officials. The content is developed from sources believed to be providing accurate information. The forecasts or forward-looking statements are based on assumptions and may not materialize. The forecasts also are subject to revision. THE WEEK AHEAD: COMPANIES REPORTING EARNINGS Monday: Zoom Video Communications (ZM). Tuesday: Best Buy Co., Inc. (BBY), AutoZone, Inc. (AZO), Intuit, Inc. (INTU). Wednesday: Nvidia Corporation (NVDA), Snowflake, Inc. (SNOW). Thursday: Costco Wholesale Corporation (COST), Marvell Technology, Inc. (MRVL), Workday, Inc. (WDAY), Dollar General Corporation (DG), Dell Technologies, Inc. (DELL), VMware, Inc. (VMW). Source: Zacks, May 20, 2022 Companies mentioned are for informational purposes only. It should not be considered a solicitation for the purchase or sale of the securities. Investing involves risks, and investment decisions should be based on your own goals, time horizon, and tolerance for risk. The return and principal value of investments will fluctuate as market conditions change. When sold, investments may be worth more or less than their original cost. Companies may reschedule when they report earnings without notice.