We all dream of retiring as a millionaire at 30. But the reality is most of us will be working until we’re at least double that age.
Retirement age in Australia will reach 70 by 2035, the highest qualifying age for an Age Pension in the world. And we are seeing the trend repeated around the globe as governments everywhere scramble to reduce welfare spending.
This will see a major shift in the age of the workforce internationally, and increasing competition to find and retain employment.
Currently, people aged 65 and over make up just 12% of the Australian workforce, but that figure is expected to grow significantly as access to the Age Pension is pushed back. And just how far it will be delayed past 2035 is anyone’s guess, although some media outlets like The Backburner have shared their own darkly humorous predictions.
Can you imagine yourself still setting the alarm for work each day at 70? Do you want to still be working 40 + hour weeks when you have a grown family and grandchildren, or at least bowls, bingo and golf to enjoy. Or do you want to be a grey nomad and enjoy your senior years travelling and enjoying the type of freedom you couldn’t when you were younger?
Ailing health is a major factor that could prevent many seniors from remaining in the workforce as long as the government expects. Almost a third of all people suffer hearing loss by the age of 55-64, while vision impairment almost doubles between 35 and 54. Cancer will affect 1 in 3 men and 1 in 4 women by age 75, and almost half of the Australian population experience cardiovascular disease by 65 while 40% of women will suffer with osteoarthritis by age 65.
By leaving traditional workplaces sooner and working remotely from home instead, more people could potentially reduce their exposure to work-related health hazards, keeping them healthier for longer.
The reduced physical demands of remote jobs can also be more accommodating for those with physical impairments or restricted movement, providing financial security and career opportunities the traditional workforce cannot.
And working remotely provides the ultimate in freedom and flexibility for the grey nomads wanting to buy a bus and hit the open road. They can fulfil their dreams of adventure while working remotely on their terms, continuing to generate an income while enjoying some much deserved rest and relaxation.
If you don’t want to be commuting in rush hour at 70, check out the hundreds of remote jobs that allow you to work from home. Register with Remote Work Hub to access full job descriptions and start applying for jobs.