David Lerner Associates: The Best Place to Work Might be at Home
The number of jobs that offer telecommuting or working from home is on the rise. In 2013, one in five American worked in a home office at least one day a week. In 2014, the number of jobs posted allowing remote work had risen by 26 percent.
As technology advances and removes the barriers to remote work, these jobs are expected to increase by 63 percent in the next five years. Forrester Research predicts that 63 million Americans (that’s almost half of the work force) will be working remotely by 2016.
These folks at home are not all entrepreneurs. Many work for large multi-national corporations that are embracing the concept of working remotely. According to the Census Bureau’s annual American Community Survey, the typical telecommuter is a 49-year-old college graduate — man or woman — who earns about $58,000 a year and works for a company with more than 100 employees.
Why are an increasing number of businesses encouraging remote working? Studies show that half-time home-based work accounts for savings of more than $10,000 per employee per year. In 2015 FlexJobs published a list of the Top 100 Companies to Watch for Remote Jobs.
There are benefits for both the employer and the employee. Working from home has some obvious benefits: no commute, a more balanced lifestyle, and time for yourself or the family. Two-thirds of Americans have considered changing jobs to shorten their commute, and 14 percent has actually done so.
One of the drawbacks is working alone. Some people miss the camaraderie of the office. You can call or Skype colleagues, but you can’t just pop down the hall and ask a question or socialize after work. A combination of in-office and at-home work gives you the best of both worlds.
Whether you work from home or not, it’s wise to take charge of your own financial future. Speak to your employer and your investment advisor about retirement plans, so that when you reach the point when where you work in no longer an issue, you have the means to retire comfortably.
IMPORTANT DISCLOSURES
Material contained in this article is provided for information purposes only and is not intended to be used in connection with the evaluation of any investments offered by David Lerner Associates, Inc. This material does not constitute an offer or recommendation to buy or sell securities and should not be considered in connection with the purchase or sale of securities.
To the extent that this material concerns tax matters, it is not intended or written to be used, and cannot be used, by a taxpayer for the purpose of avoiding penalties that may be imposed by law. Each taxpayer should seek independent advice from a tax professional based on his or her individual circumstances.
These materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable– we cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time and without notice.
David Lerner Associates does not provide tax or legal advice. The information presented here is not specific to any individual's personal circumstances. Member FINRA & SIPC.