Retirement seems to be harder to achieve these days for many folks in America. Saving for your later years takes time and commitment and you have to set goals. Unfortunately, as time goes by and the world changes certain things need to be looked at if you are going to survive the future ahead. A 2021 survey discovered that 42 percent of savers spend time worrying that they won’t be able to retire. They just aren’t saving enough or their investment portfolio is not in the shape they feel gives them the peace of mind to retire fully.
More and more older Americans are choosing to work through their retirement According to a survey from nonprofit research firm RAND Corporation almost 40 percent of 65 years and older workers who had previously retired ended up rejoining the workforce.
Tips for working from home
Internet access needs to be excellent.
When you are working remotely you will be dependent on technology. Being able to connect to broadband or fast internet is essential. Moving to a cabin in the woods that has excellent internet is fine. You could have a brilliant lifestyle on the edge of a lake and still be available for a midday meeting with a team in New York City. However, if your net access is patchy you won’t have the ability to engage with your team the same way and that could be disastrous. Communication is part and parcel of working from home and without up-to-date technology, your success rate will be affected.
Health. Retirees need to pay attention to their health. Sitting in an uncomfortable chair or working at a kitchen table is not the way to work from home. You need to set up a space where you have a working environment with a desk and real chair. Slumping for hours on a sofa will cost you money in chiropractic bills and could lead to worse health complications. You will need to set clear break times. When you work from home it is easy to get caught up and work for longer than you would at an office. Sound the alarm when it's time for a break. Make sure you eat right. Ordering junk food because you are too lazy to cook could lead to cholesterol problems. Working from home can lead to bad eating habits, so make sure your overall health is considered a priority.
If you are going to work from home to top up your retirement income there are a few ways to make sure that you get a good life/work balance. It could be a great way to enjoy a comfortable semi-retirement rather than having to commute to an office. It gives you a lot more time to enjoy life and do the things you want while still providing mental stimulation and continued income.
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