A selection of three essential articles read aloud from the latest issue of The Economist. This week, MBS: despot in the desert, the era of big-tech exceptionalism may be over (49:05), and why it’s OK not to be perfect at work (55:30).
The white-collar world has been forced by Covid-19 into a “work from home” experiment, and the results are in. It turns out we can be just as productive at home, if not more so, and many don’t want to go back to the office — at least not full time. So what will happen to the office? Will we see workers coming in only when they have to? And if so, what does that mean to the multibillion- dollar commercial real estate industry?
The coronavirus pandemic could have a lasting impact on city life. WSJ’s Jaden Urbi explores how the ways we work, shop and play are changing as urban designers refocus on health, tech and open spaces.
Illustration: Zoë Soriano
Plexiglass dividers and floor decals might not be permanent, but the pandemic will bring lasting change to offices. Experts from the architecture and real-estate industries share how they are getting back to work and what offices will look like in the future.
Photo: Cesare Salerno for The Wall Street Journal
The spread of misinformation is crippling our fight against the coronavirus. Social media and a deeply partisan divide are fueling what the World Health Organization calls an “infodemic,” which is just as urgent as the virus itself.
- Plus, the 2020 election could determine the future of the Keystone XL and Dakota Access pipelines.
- And, going back to work might require getting used to surveillance and data collection in the workplace.
- Guests: Axios’ Bryan Walsh, Ben Geman, and Erica Pandey
From the Wall Street Journal (April 17, 2020):
As the coronavirus pandemic upends work, travel and home life, the rules are shifting for what people can and can’t do in their daily lives. The WSJ is continuously updating advice and information on how to stay safe, healthy and connected, and how to help others.
Aid to a Friend Caring for a Coronavirus Patient
“Because I am organized in my job and day-to-day life, I took on my husband’s care thinking I would have it all quickly in hand. But things didn’t turn out that way,” writes Leslie Yazel, whose husband came down with coronavirus-related pneumonia. Here, she offers what she learned about the best ways to help those who are caring for someone with coronavirus.
Get a Good Night’s Sleep
From a GlassDoor.com online posting:
“Senior citizens today are healthier, more engaged, and working longer than past generations,” says Chamberlain. “A ‘gray wave’ of senior citizens will be impacting the workforce in coming years, both in the United States and the United Kingdom.”
Mature employees and job seekers bring a vast skillset and tremendous experience to open jobs, combined with a strong professional network that rivals any social-media-savvy Gen Zer. And despite the preconceptions of older workers, reports show they are just as open to learning and development as their young peers.
Move over, Gen Z and Millennials. The Baby Boomer generation, those born between 1944 and 1964, are the fastest-growing segment of the labor force in the U.S. and they are catching the eye of recruiters in every industry.
According to Glassdoor’s Chief Economist Dr. Andrew Chamberlain in the newly released “Job & Hiring Trends 2020” report, the 65+ demographic is working longer than past generations and shows no signs of retiring for good.
From Seeking Alpha article:
Myth #1 – My Expenses Will Be Cut In Half!
One of the greatest myths for future retirees is that expenses will drop when you retire. Some think their living expenses will virtually cut in half overnight.
However, that is usually not the case. In fact, oftentimes retirees spend more in retirement (especially in the first few years) than they did during their working days. Why is that?
Myth #2 – Social Security Will Provide for Most of My Retirement Needs
Many people are led to believe that they’ll manage to live just on Social Security in retirement. In most cases, however, that’s just not doable. Today, Social Security pays the average recipient only $1,461 a month in benefits. Over the course of a year, that’s $17,532. Meanwhile, the average retired household spends $46,000 a year. So there is a pretty large disconnect between the two. Property taxes alone in some blue states amount to what some receive all year in Social Security payments.
Myth #3 – I Can Just Keep Working
Surveys show that many people nearing retirement would prefer to continue working to close any gaps they feel they have in their retirement funding. Or they want to continue working because they have no plans for their free time after they retire. Regardless of which reason, they want to keep working- and it does provide a dual benefit- it gives a further boost to your nest egg while at the same time reduces the number of years you’ll need to live off it.
Myth #4 – It’s Too Late To Start Saving
They say the eighth wonder of the world is compound interest. And it obviously has a bigger effect the earlier you start saving, but you’re never too old to take advantage of its power to grow your money.
Aside from compounding, the IRS gives other incentives to save for those nearing retirement. IRAs, 401Ks, and other tax-advantaged plans give investors that are 50 and older the ability to make ‘catch up’ contributions. Those Traditional and Roth IRAs can make an additional $1,000 each year per investor. 401Ks and like plans can add $6,000 as a catch-up.
Myth #5 – Taxes Will Be Much Less In Retirement
As you’ve seen in previous points, where we show your need to save more, invest more, and possibly work more – you will probably not be reducing your overall income that much. So if your income isn’t going to drop, then you shouldn’t assume with any honesty that your tax bill will drop.
The Trump tax cut reduced rates, but removed certain deductions. Even if we call it a wash, not many would bet that rates would drop further from here. The easy bet would be to wager they will only rise from here.
Read article by clicking here: https://seekingalpha.com/article/4273061-common-retirement-myths-debunked