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The Remote Work-cation

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Thursday, July 15, 2021

The COVID pandemic has disrupted much of our lives. It’s been a tough time for people and their families who had to reprioritize and figure out what was important.

For many Americans 2020 meant working from home, if it was possible to do so. This in turn drove the new remote teamwork model spurred on by new ways of communication like Zoom. Video calling became the norm for everyone. Companies changed the way they met and the way they did business. Managers rethought their team building and internal communications.

The New Post-Pandemic Corporation

Out of the fire rose a phoenix, a new breed of a corporation, and a brand-new mindset for both employees and entrepreneurs — the hybrid workplace.  It is expected that almost 70 percent of us will be working remotely by 2025 in some form for at least 5 days of the working month. The idea of working from home, or someplace other than an office, might seem crazy to someone from another generation who punched in on a time clock every day. But for the folks who have it figured out, life is getting interesting and in many ways much better.

If you don’t need to commute to an office, and you have good internet access, you can literally be anywhere. You could, for instance, go to Tahiti and spend your day sipping cold drinks and wiggling your toes in the sand while you answer your work emails.

The New Work-Cation

Some enterprising destinitons are tapping into this trend. Tahiti is one example. Travelers from the United States may not even need to quarantine upon arrival. If you had the virus and therefore have antibodies in your system you don’t have to fork out the extra cash for a quarantine stay. Likewise, if you are fully vaccinated. There are luxury hotels offering packages for a work-cation.

The price of the stay includes a pre-arrival consultation to plan your business and activity needs. You stay in a villa and are provided with a butler service, as well as a specialist IT butler to set up your office. After a stressful day, you may want to take advantage of a complimentary Polynesian Taurumi massage!

Now that sounds like a workday we could all get used to.

Remote Retirement 

Statistics show that of all Americans who live abroad, 26 percent are retired. They are enjoying their days in the sunshine often funded by a favorable dollar exchange rates which boosts their lifestyle during their retirement. 16.3 percent are self-employed. Many of them are taking advantage of the remote work lifestyle and the world is their oyster.

You could join this select group sooner than you think. All you need is a good internet connection and work that can be done remotely. You could possibly even be on a beach doing the same job you do now.

 

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

 

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Founded in 1976, David Lerner Associates is a privately-held broker/dealer with headquarters in Syosset, New York and branch offices in Westport, CT; Boca Raton, FL; Lawrenceville, NJ; and White Plains, NY. For more information contact David Lerner Associates Call 800-367-3000 Visit our website: www.davidlerner.com

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