Couldn't think - from Sept 2022
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Comments
Why do you think I don't need a mortgage...
Granted it's probably easier to skive it from home, but that's where trust comes into it. I've worked from home since Covid; partly because we had an office relocation and the number of people in the team vastly outweighs the number of available desks, but mostly because it's better for my work/life balance. I get to see my son every morning, and I'm clocked off at 4pm to pick him up from childcare and spend more time with him in the evening.
There's nothing I can't do at home that I can do in the office, I save money on fuel, have less stress in my life (traffic) and am generally happier. My work gets done, my PDR ratings are consistently high and our productivity as a business post-Covid has actually gone up since hybrid working was adopted.
There will of course be people that take advantage of working from home, but I would suggest that's the minority of people. Suggesting otherwise is like saying all football fans are hooligans based on the actions of a number of tribal chair-throwing morons.
Have I missed something in translation?
Glad to see you are paying attention!
Back to not working from home it is then.
Also look at this
In my game there exists a definite demographics gap, we have loads of very experienced 55+ year olds and a lot of very competent and eager 30-35 year olds, however we have very few 40-50 year olds.
In the next 5 years or so, the industry is going to shed a vast amount of experience and relationships that have been built up over time so companies are recognizing that they will need to be a little creative if they wish to keep us old codgers around for a bit longer.
I approached my company with my proposal in July which they readily accepted, strictly speaking I am scheduled to fully retire next July, but assuming that this 3 day gig works for me and the company, then I can see myself extending it for a few years - especially if the economy is still going to hell in a handbasket.
Obviously depending on circumstances but I suppose the lesson is that whatever stage of life you are at, you should not be afraid to propose a work/life balance that works for you.
Without wishing to pry, and thinking of pensions, - if one is in a final salary scheme, then taking a pay cut ( effectively) just before retirement would be the last thing someone would do. I know that ( in the UK) final salary schemes are much less common nowadays. But where they are in place, it would mitigate against your solution to the problem of retaining older more experienced staff while.
I've got 2 of them.
Finding out about all this stuff is on my list of things to do 🙂
Over the next few years!
Principle retirement plan is called a 401k, essentially a tax deferred saving plan where, if you are lucky, your employer matches your personal contributions up to a certain limit, you invest the money in a range of available funds and hopefully you build up enough of a nest egg that when combined with Social security/state pension, you can look forward to a comfortable retirement.
If you do not yet qualify for Medicare, the real trick over here is to ensure you sign up for enough hours to qualify for employer sponsored benefits such as medical insurance etc.
The problem with 401ks is that in times when the markets are falling, like now, peoples nest eggs are being decimated.
The beauty of my 3 day gig is that whilst I am on less salary and not really building my nest egg, I am not drawing down on it either and I still have access to good quality employer sponsored medical insurance etc.
Regardless of where you are funds can go down as well as up so you’ve no real idea as to what you’ll get on retirement until you get to it.
Defined benefit schemes (final salary) are a win win for the employee but a nightmare for employers as they are really unaffordable as fluctuations in the market mean nothing. Most public sector schemes are still defined benefit or have some element of it.
They're effectively a ponzi scheme these days, and it amazes me that so much industrial action is around attempts to make changes to something that is no longer financially viable. The resistance to attempts to change them, especially in the public sector, is effectively insisting that the rest of the tax paying public have to top up public sector pension schemes.
But - crucially - they are unfunded. ( I think that's the term). As in, we pay our contributions to the govt who spend it on what they like.
They don't put it into an investment plan. Thee is no pension fund. Just an 'I promise to pay later on'.
When the day comes that they have to pay out to us poor ancients, it comes from the govt budget. So you might say taxpayers ( which, btw, includes public sector workers) are topping it up ... But we have been topping up the govt budget with our pension contributions for decades!!
https://www.bbc.co.uk/sport/football/63521254
Get well soon mate.