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How Technology Transformed Retirement

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The past few decades saw technology advancing at a rapid rate. It resulted in better working conditions as technology automated some of the manual tasks that people performed. Even as these developments resulted in job losses, they also created new jobs.

Technology also changed the world of retirees as it opened a lot of options for them. Aside from connecting with family and friends, it also allows them to stay in the workforce longer. Technology also allows retirees to go around more as their mobility improves with the developments in technology.

Here are the things that opened up to retirees with the advances in technology.

Continue Working

One option available for upcoming retirees is to continue working. A survey of workers at least 54 years old showed that around 72 percent of participants plan to work with a flexible schedule. The same survey showed that around 58 percent would work with reduced hours while 56 percent prefer to take a consultancy role.

Developments in technology have made this possible even though these potential retirees will work from home. The pandemic showed that working from home is a good option for seniors to keep them safe from the virus. The availability of fast internet and mobile devices allow them to work anywhere. They also have the option of working from a vacation home.

Online resources also allow them to acquire new skills that will help them with their work. Working as a consultant is ideal for retirees since it allows them to mentor younger employees who will take over their tasks at work.

And as they continue working, it allows them to continue growing their defined contribution retirement plan and increase their funds when they stop working. The companies handling these plans invest the money to get a higher rate of return for their clients and give them more funds to use when they finally retire from work.

Maintain Mobility

Before technology changed the world, retires would stay home all day and wait for visitors to pass by. Their mobility was limited due to their age. If they wanted to visit a friend, they would have to wait for someone to drive for them.

But technology gave seniors the mobility they needed when they retired. Blind-spot detection, automatic parking, GPS technology, and collision warnings make it easier for retirees to move from one place to another. And with the continuous evaluation of autonomous vehicles, retirees will have more mobility options to visit family and friends.

Some retirees prefer not to own a car since they find it exhausting to maintain it. The services offered by ride-hailing companies are ideal for the needs of these retirees. They only need to use their smartphones to get a ride to the house of their family and friends.

Some retirees prefer to stay home rather than go out due to their old age. These retirees still have the opportunity to visit travel destinations use a virtual reality (VR) headset. These headsets use video game technology to visit the Louvre Museum in Paris or go on an African safari in the comfort of their homes.

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Monitor their Health

A lot of seniors retire due to health issues. These health issues have made it challenging for some seniors to live a normal life after retiring. While some live in assisted-living facilities, others prefer to stay home. In the past, it was not easy for medical practitioners to monitor the health of these retirees.

Developments in technology made it easier since machines make it easier to monitor their health while they stay home. Wearable health monitors allow the doctors of these sensors to monitor the vital signs of these individuals. They transmit the information to healthcare providers to ensure they stay safe even if they live alone.

Some wearable devices are designed with emergency monitoring and fall detection features. This allows healthcare providers to stay on top of these retirees and send help in case of emergencies.

Remain Connected

The pandemic forced many seniors to stay home, which affected their mental health if they lived alone. But video conferencing software allowed family members to check on their elderly relatives to ensure they were safe and healthy.

It also allowed retirees to connect with their friends who stayed home due to the health crisis. They had several software options depending on which one they were comfortable in using. The software allowed them to deal with loneliness by talking and seeing their family and friends on their computers or tablets.

Developments in technology offered retirees numerous options that made retiring from work easier for them to do.

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