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Can Remote Work Be a Way to Phase Into Retirement?

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computer desk image showing an image of a sign with caution rockstar at remote work

Right now, older workers are trying to make some decisions about their future careers and asking a number of important questions. Can I continue to work onsite? Maybe it’s time to retire? Or should I think about transitioning to an encore career? These are all very valid. There’s one other question to consider: Is it possible that remote work might help me achieve my retirement goals?

I recently listened to The Retirement Wisdom podcast, “Can Working Remotely Beat Ageism?”. The guest for this episode was Kerry Hannon, author of the book “Great Pajama Jobs: Your Complete Guide to Working from Home”. I will admit that the title of the podcast gave me a bit of discomfort. As a human resources professional, I hate the fact that ageism exists. But the realist in me understands that it does. And sadly, that it’s not going away overnight.

In the podcast, Hannon says that one of the biggest benefits to working from home is beating ageism. For organizations and individuals. Organizations can have older professionals work remotely and not worry about whether that person fits in with the younger members of the team. Older workers can benefit from being evaluated on their performance results and not how they look or act. 

Again, let me say that I hate, hate, hate ageism. And I particularly hate that Hannon’s remarks have some truth in them. But instead of thinking about remote work as a way to beat ageism, is there a way to think of remote work as part of a phased retirement strategy? Organizations benefit because they are able to keep skilled workers longer. Older workers can benefit by being able to still contribute while (possibly) downsizing to their forever home, commute less so they can fulfill caregiving responsibilities, and continue to save for their financial future.   

But working remotely doesn’t mean easier work. If you’re intrigued by the idea of using remote work as part of your phased retirement strategy, here are a few things to consider:

Do you want to be an employee or a freelancer? One of the first things you have to decide is how you want to pursue remote work. If you’re working for an organization that allows working from home, then great – you could be set. And if you don’t or you’re currently looking for a new job, do you want to make remote work one of your job must-haves? 

Do you have enough workspace? I mentioned earlier that part of your retirement strategy might be moving to a smaller home. If you’re planning to work from home, do you have the space to do it? In our last home, Keith worked in the dining room. With our new house, he has his own space and that’s important. 

Can you setup your workspace with equipment and technology? Once you have a designated workspace, you’ll need to think about what it takes to be productive. When we work in an office, we take for granted that we will have a desk, chair, and computer equipment. With high-speed internet. Getting the remote work office setup you want could involve spending some of your own money. 

Are your skills current? I believe working from home involves some different skills. A couple that immediately come to mind are technology and time management. You’ll want to take an inventory of your skills and decide if there are any you want to update or add. And you’ll want to find ways to gain those skills while working from home. If you’re accustomed to taking a class at your worksite, now you might read a book or take an online program. 

Are you mentally and emotionally ready? I’ve worked from home for over a decade. Socializing is different. You don’t have people to collaborate with all the time. There are distractions and temptations all the time. Some of them are fun (like cute panda videos) and then there’s doomscrolling. You have to figure out how to not snack all day and when you’re going to exercise. All of this contributes to the work from home experience.

Regardless of what’s going on with the pandemic, remote work has been increasing in popularity for quite some time. Is it possible to take advantage of a growing trend and make it a part of your retirement strategy? Possibly, but it takes planning so you’re ready when the opportunity presents itself. 

What We Are UP To – Productivity Edition

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wall art do you have what it takes for productivity

One of the biggest challenges I faced when I initially started working from home was productivity. When you’re in the comfort of your own home, it’s easy to get distracted and before you know it, you’re looking at an article about a guy who edited Disney characters into his photos. Over time, I’ve learned that integrating some fun distractions into my workday allows me to enjoy my time and still be productive. This month we managed to do just that: get a few important things done while enjoying ourselves. 

Watching | Ant-Man & Ant-Man and the Wasp

> Sometimes the key to productivity is allowing yourself a little downtime. We found ourselves faced with that earlier this month and decided to rewatch these Marvel movies. And we’re glad we did. We had forgotten how good Paul Rudd and Evangeline Lilly are together. 

Reading | The Flip Side

> While I have my own political opinions, it’s important to me to understand what others might be thinking. The Flip Side is a FREE daily email that presents both the left and right viewpoints to the top news stories. What I like about this site is that it doesn’t tell you one side is right or wrong. It curates both views and presents them side by side for you to decide. They also explain their curation methodology so you can determine if it meets your standard. 

Remembering | Estate Planning

> We haven’t forgotten about this project. Keith recently wrote an article about our estate planning takeaways so far as we update our wills and health care directives. Let me add a 4th takeaway to his list: it takes time. When it comes to budgeting your resources, keep in mind that even updating an existing will does take time. 

Working On | Cleaning up digital photos

> One of the things I love about my iPhone is that I can take a picture whenever I want. The downside to this is that I quickly accumulate a lot of pictures! So, I came up with a plan to organize them. My productivity trick is to schedule an hour a day for a few days and before I knew it…photos organized, and project completed. 

Feeling | Ready for some cooler weather

> I’m probably not alone in thinking it would be nice for some cooler temperatures right now. While I love sunshine and warmer weather, there’s a point where I’m just, “…on to autumn, please”. I know this year will be tough, given that we’re still trying to practice social distancing but I’m looking forward to wearing sweaters and soup season.  

Planning | Flu Shots

> We always get a flu shot. I realize it doesn’t protect us 100% but in my book that’s better than 0%. And I find that if I do catch something, it doesn’t seem to stay with me very long. I’m planning to have a very productive fourth quarter and staying healthy is a necessary part of that plan. 

Loving | Jot

> When I work from home (which is all the time these days), I like to enjoy a small cold brew in the afternoons. Helps with my afternoon productivity! I’ve been trying all sorts of cold brew concentrates and recently found Jot Coffee. It comes with a tablespoon for you to measure the perfect amount. Then just add water. BTW – you can turn it into a pumpkin spice cold brew with just a little bit of Coffee Mate pumpkin spice creamer. 

Geeking | Peloton Update

> I mentioned last month that we got a Peloton and I thought that I would provide a quick update. We’re both really liking it. We were unsure about the whole notion of “biking in the house” thing but there are hundreds of classes to choose from. We can always find something to fit the mood we’re in. And the most important part? We are regularly getting exercise, which helps with our productivity!

What’s UP with you?

Image captured by Sharlyn Lauby while exploring the streets of Anaheim, CA

Why Voting Matters – #Election2020

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wall art about voting saying just do it

I’d like to think that everyone knows there’s an election coming up in the United States. And like all elections, the outcomes are important. Some might argue that this year is even more important. I’m not going to get into that today except to say that even if you vote regularly, I hope you will take the time to finish reading today’s post.

I was a political science major in college, so I like reading and staying up on politics and the news. Which I will admit can be a bit challenging at times. A few months ago, Keith bought me a book titled “OMG WTF Does the Constitution Actually Say?” by Ben Sheehan. Whether or not you’ve read the Constitution, this is an educational and fun read. It contains both the actual text as well as a casual interpretation. I hadn’t read the Constitution in a long time and it was a good refresher. 

Shortly after finishing Sheehan’s book, I heard about another book…this one about voting. Kim Wehle is a professor of law and legal expert. She wrote the book “What You Need to Know About Voting and Why”. Needless to say, I had to get a copy.

While I’ve been voting for a long time, I really enjoyed this book for a few reasons. It’s a book that talks about both the mechanics and complexities of voting. The book delves into whether or not we have a “right” to vote, how to qualify to vote, and how voting impacts government. I’ve never questioned my ability to vote ever nor have I ever had anyone question my ability to cast a vote. (Yes, my white privilege is showing.) That’s not the case for everyone and this book does a good job of explaining how voter suppression has happened over time and still exists today. It also talks about money in elections and if you ever wanted to know the difference between individual contributions, political action committees (aka PACs), and Super PACs…this book will clarify it for you.

The book was also helpful in sharing how older Americans who need assistance can have a caregiver help them vote and how individuals with disabilities can make sure they’re able to vote with accommodations. Finally, the book offers suggestions about what to do if for whatever reason you’re turned away from a voting precinct (and it could be because of what you’re wearing – and, yes, they can do so legally). 

Voting is important. Our votes elect individuals who create laws that impact our personal and professional lives. I’m not just talking about major pieces of legislation like the Americans with Disabilities Act (ADA) or the Family and Medical Leave Act (FMLA). Right now, an elected school board official is deciding whether or not our kids or grandkids should go back to school in person or online. That’s pretty darn important. 

I’m not trying to give you the hard sell on buying this book. I did think it’s really good and it will have a permanent spot on my bookshelf (next to Sheehan’s book about the Constitution). That being said, there is one quote from the book that I want to share.

“As far back as 1886, the Supreme Court has repeatedly declared that the right to vote is ‘fundamental’ because it is ‘preservative of all rights.’ Without the right to vote, individuals can’t hold government officials accountable for breaking other laws.” 

Wehle suggests thinking about our ability to vote as an accountability tool. Without it, government officials could feel – and act – as if they’re above the law. 

A recent AARP study showed that Americans 50 years of age and older would be the world’s third-largest economy if they were counted as their own country. You can imagine the economic impact of this demographic and the power they have in the voting booth. I’m not here to tell you how to vote. But I do hope you will take the time to learn the voting laws in your state, get educated on the issues, and make a plan to go vote. What happens on November 3, 2020 will have a long-term impact on us as individuals as well as our plans for retirement.

Image captured by Sharlyn Lauby while exploring the streets of Gainesville, FL

5 Ways We Can Bridge Our Retirement Gap

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wall art hands reaching toward each other implying a retirement gap

I ran across an interesting TEDx video on the Center for Retirement Research’s Squared Away Blog. Kevin Bracker, a finance professor at Pittsburg state university in Kansas was talking about “The Retirement Gap”. While the video is from 2019, it does have some really good takeaways for retirement planning. 

Statistically, we know that people are living longer. The challenge is that we’re not financially preparing to live longer. The financial shortfall between how much we need for retirement and how much we have has been labeled “the retirement gap”. 

The retirement gap is global and it’s growing, especially in the United States. So why do we have a retirement gap? There are two primary reasons. First, we don’t save enough. There are people close to retirement who do not have enough saved. Bracker says 40% of the population doesn’t have a retirement account and the majority of individuals do not have enough in savings to last them a year. Second, Social Security, which is supposed to be our retirement safety net, doesn’t have enough funding. 

Whether you believe Social Security is funded enough is a topic for another day. The bottom-line is that individuals need to prepare for retirement. Social Security wasn’t designed to cover 100% of our retirement expenses. Here are five things that could help individuals bridge their retirement gap:

  1. Save more. I realize this is very difficult to do in general. Even more so when people are facing unemployment or taking a job that pays less than the last job. Toughness aside, are there ways we can set a little bit aside? I’ve mentioned before that we have monthly budget meetings and ask ourselves, “Is there something we can cut from our regular expenses?” Sometimes we amaze ourselves with what we can live without. 
  1. Understand the tax code. I’m not saying don’t pay your fair share. But there are ways to legitimately reduce your tax burden. One thing I immediately think about are 401(k) plans where you can save pre-tax. According to the Investment Company Institute, 50% of all employees have access to a 401(k) plan. And over half of those plans include an employer match. As a HR professional, I’m amazed when people don’t take advantage of this benefit. It’s a way to automatically save, pre-tax, and get a savings match from your employer.  
  1. Become financially literate. In addition to taking advantage of the savings opportunities from your employer, it’s possible to invest on your own. I think it’s important if you’re going to invest to understand key financial terms. For example, knowing how inflation impacts the market. Also, individuals should know how to read an organization’s financials to determine whether or not to invest in them.   
  1. Think about professional help. Most of us are not full-time market fund managers. At some point, we might want to consider the services of a financial advisor. Keep in mind these services are not free. Individuals should know how to select the services of a financial advisor and what their fee structures are. A financial advisor can be a huge benefit but it’s important to have trust in their abilities. 
  1. Play the long game. It can be frustrating to save and not see immediate results. Or not see big results. Those small increments can and will add up if we play the long game. I’m reminded of the saying, “If it seems too good to be true, it probably is.” It definitely applies here. Retirement planning happens over time. In small increments. It happens when we’re patient. 

Toward the end of the retirement gap video, Bracker talks about creating some systemic changes like “opt out” 401(k) plans versus “opt in” and automatic savings increases but I think most of us aren’t in a position to implement those changes. The five actions above are things we can do now. 

 I know for some people these financial strategies aren’t anything new. It is a good reminder to stay focused and look for opportunities to do more. After all, we want to enjoy those extra years ahead.

Image captured by Sharlyn Lauby while exploring the streets of Fort Lauderdale, FL

How to Create Your Retirement Vision Board

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brainstorming rules to help create a retirement vision board

One of the best things that Keith and I started doing to help our retirement was to start talking about it. What do we want our retirement to look like? It helped us realize that we want a period of “unretirement”. It’s one of the reasons that we started this blog. 

But there are times when simply talking about future goals isn’t enough. And even writing down goals isn’t enough. I want to see more than the words. I want to see what the future may look like. Visualize it. 

A vision board can be a good way to do that. Vision boards are a tool used to help clarify, concentrate, and maintain focus on a specific life goal. Literally, a vision board is any sort of board on which you display images that represent whatever you want to be, do, or have in your life. 

There are many ways to create a vision board. Maybe you keep it in a journal. Or a bulletin board. For me, I’m finding the perfect place to keep a vision board is Pinterest.

A few years ago, I wrote a 5-day plan for learning Pinterest on HR Bartender. Since then, I continue to see activity and engagement on the platform. My experience with Pinterest is that it’s less of a dialogue or conversation platform and more of an inspiration, utilization platform. Think of it like a digital bulletin board. 

If you’re looking for a way to stay focused on a goal, consider creating a vision board to help make that happen. Here are five things to note:

  1. You can make it secret. Not ready to share your vision board with the whole world. No problem. Pinterest has a feature that allows you to make a board “secret” so only you can see it. 
  1. Section it to fit your needs. Pinterest has a nice feature where a “board” can have “sections”. So, your vision board could have a personal AND a professional section. For example, your retirement vision board might have sections for your encore career, where you’d like to live in retirement, and places you’d like to visit. 
  1. Pin images, articles, and quotes that help you achieve your goals. One of the things I like about Pinterest is that I can pin a variety of things – images, articles, quotes. I can pin stuff from the internet and photos I’ve taken or articles I’ve written. Bottom-line: it’s flexible.
  1. Change it when you want to. After pinning something, you can move it to another board, or delete it completely. Let’s say you pin a list of the top cities for retirees. Couple of months later, you see a better list. Delete the old one and replace it with the new one. 
  1. Delete what doesn’t work. One of the downsides to vision boards can be a feeling that you look at it and say, “I’m not getting to my vision fast enough.” Or “I’ll never achieve the goal.” It’s important to remember that our goals change regularly, and we have to be willing to let go of some goals in order to make other ones happen. Vision boards must be flexible to be effective.
  1. Your vision board can be portable. I’m not against the bulletin board type vision project, but there’s something nice to me about having my vision board with me all the time. If I’m at a conference or out at dinner, and I hear something, I can immediately post it. Versus going home, then finding/printing/posting it. 
  1. When you’re ready, you can share it. There might be components of your vision board that involve coworkers, family or friends. Maybe you want to start a business. Or move to a different city. Pinterest allows you to share boards with others.

Vision boards can help us with our career goals, life goals, and maybe even retirement goals. We have the flexibility to create something that fits our needs. Because the goal with a vision board is to make it happen. So, if it works, take advantage of what Pinterest can offer.

Image captured by Sharlyn Lauby somewhere in Fort Lauderdale, FL

What We Are UP To – The Music Edition

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music image showing notation

I read an article recently about “Using Music for Self-Care” that was very interesting. I had always heard about theories like the Mozart effect (which I don’t believe is true) but I can definitely see how listening to music can be helpful in stressful situations. While we’re not experiencing any out of the ordinary stress this month, we are listening to a lot of music and it’s been nice. Here’s what else we’ve been up to:

Watching | TwinsthenewTrend

> Tim and Fred Williams are twins who record their reactions to music that they’ve never heard before. I recently discovered them when their reaction to the Phil Collins classic song “In the Air Tonight” went viral. Totally loved it and have been checking out their older videos. I especially liked their reaction to “Dream On” by Aerosmith.  

Geeking | Spotify

> I think one of the reasons that I’ve been enjoying the TwinsthenewTrend videos is because they’ve been listening to a lot of the music that I listened to growing up. The blast from the past is fun. I’ve also found a couple of playlists on Spotify that are filling my need for the oldies: 70s Road Trip and Classic Road Trip Songs. If you have a Spotify account (FREE), check them out.

Loving | Peloton

> Yep, we broke down an bought a Peloton. COVID-19 put our Pilates plans on hold and we really wanted to exercise. So, we looked at all of the money that we would have spent on classes and it quickly justified the expense. One of the things that I’m enjoying about Peloton classes is the music. I’m finding some new artists to enjoy. If you’re considering a Peloton, let me share with you my referral code – 83QXDQ. If you use it, you’ll get $100 to spend toward accessories. I get a little something too. 

Remembering | Halloween

> It’s hard to believe that the holidays are right around the corner. I mentioned last month that we’re working on organizing our garage. Well, in the process we found our Halloween decorations. Frankly, I’m not sure we should put them up. Which is sad, since this is our first Halloween in the new neighborhood. But better to be safe. The good news is that we will be able to do our annual viewing of “The Rocky Horror Picture Show” and sing along to the music. 

Planning | Going to a show?

> Speaking of holidays, one of the things we love to do in the fall is go to the theater. And I’m not sure that’s going to happen this year. Last year, we were able to see both Randy Rainbow and Lindsey Stirling in concert. (Not together, separate shows.) Both were fabulous! Now we’re eyeing the fall new movie releases and realizing that we might be catching a lot of shows when they come out on video. 

Feeling | Ready for Autumn 

> My Pinterest page is filled with soup recipes! While I’m enjoying salad season, I can’t wait for soup season. We discovered some soup mixes from King Arthur Baking right at the end of last winter. They were easy to make and very tasty. I’m looking forward to making some soup as soon as the weather drops below the 90s. 

Working On | Estate Planning

> We’re taking our own advice and updating our wills and health directives. This process is a lot less stressful when you have the time to think about and discuss your final wishes. 

Reading | “Life” by Keith Richards

> I saw an article in Rolling Stone that ranked the best musician autobiographies of all time. One of my favorites is “Life” by Keith Richards. I’m not even a huge Rolling Stones fan and I loved this book. If you’re looking for a nice read to finish your summer, this might be it. 

What’s UP with you? Let us know what music you’re listening to these days. 

Take Charge of Your Career with These 7 Development Activities

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sign don't dream it be it for career development

Now more than ever, we need to realize that, as individuals, we play a role in our own career development. But saying that and doing it are two separate things. It’s easy to tell ourselves that we need to take a more active role in managing our careers. The question becomes how we make that happen and be successful at it. After all, most of us need to be successful for many more years to come.

Regardless of where you are in your career, here are a few things to consider. You don’t have to do all of these at once. But think about how working on these activities could benefit your performance and help you to achieve your career goals.  

  1. Understand how your individual performance impacts the organization’s mission, vision, and values. All organizations care about their performance. So, understanding how what we do on an individual level impacts the bottom-line is important. And if you don’t know…ask! Your manager should be able to discuss it with you. 
  1. Set relevant, challenging but achievable goals. While your manager might have some suggestions for you in this area, you should want to have a say in your own goals. You will ultimately be held accountable for goal achievement. Don’t hesitate to include self-learning as a career goal.
  1. Always say “yes” to training. I’m of the mindset that I can always learn something, even from bad training. And what’s awesome today is there are so many free learning events available (i.e. webinars, podcasts, and massive open online courses [aka MOOCs] immediately come to mind). If the company offers training, take it. And if they don’t, find some free learning for yourself.
  1. Learn how technology can improve your performance. Today’s technology solutions can help us reduce bureaucracy and a duplication of effort. It’s often not about having more technology but simply knowing how to use the technology we have really well.
  1. Solicit feedback from your manager and coworkers. Sometimes our perception of our own performance isn’t the same as others. This doesn’t mean that we have an overinflated ego or that our performance is poor. It’s possible we’re being too hard on ourselves. Ask your manager and peers for feedback about your performance so you can develop yourself. 
  1. Become proficient on how to deliver feedback. Your organization needs and wants feedback. Most of the time that feedback comes during performance conversations with your manager. Delivering specific feedback in a timely fashion can help the organization and make a difference in understanding your own performance and goals. That kind of feedback brings value. 
  1. Congratulate yourself for a job well done. Your organization should recognize and reward your hard work. But that doesn’t mean you can’t do it too. Consider attaching some rewards to your goals. When you meet a tough deadline or finish a big project, don’t hesitate to pat yourself on the back. 

I’m not saying that organizations shouldn’t help with some of these activities. They should. But honestly, they need our help. Managers want to know your career goals. They want to know how you like to learn. Open honest two-way communications will help you and the company create a win for everyone.