Has the Covid-19 pandemic cut into your vacation plans? It seems like everyone’s travel plans have changed over the past year. But what does that mean for employees and companies? Anne Steele and Chip Cutter examine the effects of Covid-19 and vacation taking in a recent Wall Street Journal article that we’ll look at today.
In addition to our Retirement Headline, I’ll answer two listener questions. One is about Medicare before age 65 and the other about investing in bonds. Grab your favorite listening device and join me to help you get retirement ready.Has the Covid-19 pandemic cut into your vacation plans? Click To Tweet
Outline of This Episode
- [1:22] Many people aren’t taking time off right now
- [6:10] Will Rich’s wife qualify for Medicare after he retires?
- [10:28] Should we own bonds with these low interest rates?
Working too much decreases productivity
We have discussed the importance of taking vacations on Retirement Starts Today before. And if you have listened in the past you know that vacations actually increase worker productivity and boost morale. However, this past year, the Covid-19 pandemic has changed most people’s travel plans. Many have decided to postpone taking their vacation days until a time when they can travel more. But with the stress over the pandemic and the changes brought about by working from home, people should be taking time off now more than ever.With the stress over the pandemic and the changes brought about by working from home, people should be taking time off now more than ever. Click To Tweet
Companies are becoming increasingly concerned about employee’s lack of vacation time
Whether it is because people feel like they can’t or shouldn’t take vacation time right now, companies are becoming increasingly concerned. However, different companies are taking different approaches to the issue. Some are relaxing their vacation policies and allowing the vacation time to roll over while others are forcing their employees to use the time now to try and fend off burnout. Have you used your vacation time over the past year?
Vacations are even more important in the lead up to retirement
As you approach retirement, it is even more important to take those vacation days. The free time that vacation days offer you an opportunity to explore and practice what you will be doing in retirement. If you have postponed your vacation, consider taking a staycation to practice for retirement. Take this time to explore new hobbies and act out what you would do during your retirement.Take this time to explore new hobbies and act out what you would do during your retirement. Click To Tweet
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Resources & People Mentioned
- Wall Street Journal article – Companies Fret As Vacation Goes Unused
- Boomer Benefits YouTube video – Medicare Under 65
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