Ep1: Remote Work is The New Retirement PlanMar 20, 2022
Remember when people thought that the mobile phone was a weird passing fad? Or the personal computer and even the internet were things only a small percentage of the population would use? What we thought were fads not only became mainstream, they became critical to how we function on a daily basis.
People thought remote work was a fad, too, or a phase, or only something that you can do in certain roles, but now you know that it is not a fad but what you may not be thinking about is that it's not an option anymore.
People, especially people planning for or heading into retirement have to consider that remote work is here to stay and has enormous benefits depending on your situation.
In this episode, I talk about how remote work is the new retirement plan, and what you can do to position yourself for these new opportunities.
In this episode you’ll learn:
- Why remote work is the new retirement plan
- The top trends related to remote work
- Growth and opportunities of remote work
- Practical ideas and steps to move forward on your remote work opportunities
Here’s what you can find in this episode:
[2:00] Why remote work has not only become mainstream, i’s no longer optional and everyone needs to know how to do it. Be prepared to do it.
[3:33] Story about Lori a person I met, who is 65, told me that her tour job was impacted by Covid-10. She was forced to take early retirement and had to work at Target for extra money. When I told her about remote work, she had no idea where to start or what she could do.
[7:23] High-level benefits of remote work. This includes working wherever like I did when I worked from my RV from 2016-present. Better self-care by working when you want, have less stress, less commute, netter for the environment. Costs less for employers as well. Productivity goes up, too. It’s good for people with disabilities, mental health issues, and other marginalized communities.
[11:18] Overview of the four big trends shaping remote work remote work.
[11:34] Trend #1 Ageism. What it is, how it happens. Examples of ageism.
[14:35] Trend #2 Lack of retirement income or savings and rising inflation. Even people in my own family and friends are impacted by this and need to work in retirement
[16:42] Trend #3 People are living to longer. This is good news! However, when you combine this with the other trends, you risk a gap in income or curtail your lifestyle.
[17:35] Positive Trends
Covid-19 impacted jobs and businesses. But also leading to remote jobs and businesses.Positive trends. Pandemic job growth. By 2025 will see double the job growth. 32 million people.it’s an employees market. People have the paper hand because of labor shortages. This means
The boom in the hybrid workforce and freelance opportunities. This boom may not last. Forbes 2021 article. 2 million workers joined the freelance economy. 35% of people working as freelancers.
[24:00] No one way to work remotely. So many options. Working for someone else or yourself. The barriers to entry are low and the costs are low, too. You have more skills than you think, including transferable skills that can be used in remote work. People often underestimate themselves.
[26:00] Next steps and inspiration:
Shared people in my family, all over 70, working remotely! Do a skill inventory to see your skills objectively. Decide what your remote workday looks like. What is your financial risk level? Do you have the mental and financial tolerance to start a business? What is good for your mental or emotional health. Stop undervaluing yourself and thinking you need to take a paycut.
[30:00] Closing Thoughts
Remote work is the new retirement plan. But what does retirement even mean anymore? People are working longer, and also want purpose well into their traditional retirement years.
[32:20} You can sign up for my free training
How To Get Remote Work Tp Have A Flexible Lifestyle 9Without Running Out of Money), https://www.camilleattell.com/remote-training
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Resources and links in this episode:
- Retirement Statistics: https://capitalcounselor.com/retirement-statistics/, https://www.investmentnews.com/galleries/retirement-statistics-you-should-know-in-2021/image/3, https://www.retireguide.com/guides/working-after-retirement/
- Ageism: https://www.aarp.org/work/job-search/info-2020/part-time-work-from-home.html
- Growth of remote work: https://www.cnbc.com/2021/08/26/covid-pandemic-pushes-hunt-for-remote-jobs-up-460percent.html
- Benefits of remote work: https://www.corporatewellnessmagazine.com/article/health-benefits-remote-workforce
- Living longer: https://www.statefarm.com/simple-insights/retirement/good-reasons-to-keep-working-after-retirement