You know, I’ve been thinking that a pandemic might actually be the best time to work. With less stuff to do, why not spend more time earning some extra cash? Plus, if you’re lucky enough to work from home, you might even find a way to work less and still get your full paycheck!
Since March 2020, I’ve been chatting with my tech buddies about their work schedules. Most of them are loving the flexibility of working from home. They’re working fewer hours but getting the same amount of work done. This means they have more time for fun stuff like tennis, catching a baseball game, taking long naps, and even traveling.
Hearing about their flexible schedules got me thinking about going back to full-time work. I mean, why not get paid if our worlds are converging, right? Plus, with two young kids, the idea of having health care, paid time off, 401(k) matching, and a steady paycheck sounds pretty good.
But then my wife reminded me that none of my tech friends have kids. So, the freedom they have working from home might not be the same freedom I’d have. So, I put my dreams of getting paid to do less on hold… for now.
I’ve always thought that the ideal workday would be about four hours long. Two hours in the morning before the kids wake up, one hour in the afternoon, and one hour in the evening. That’s the perfect amount of productivity without feeling overwhelmed.
But recently, I found out that some people are working just two hours a day and still getting paid full-time! Better.com, a digital mortgage company in the SF Bay Area, recently laid off 900 employees. The CEO, Vishal Garg, accused over 250 of those laid off of stealing from the company by only working two hours a day.
On one hand, getting laid off right before the holidays is a real downer. But on the other hand, I’m fascinated by how these employees managed to work just two hours a day for so long.
I think most of us would happily take a job that pays full-time while letting us work part-time. Garg’s comment is proof that working from home can be really awesome for a lot of employees!
One of my readers, Dave, shared his experience of working from home since the pandemic started. He’s in sales and says his job is way easier now. He used to spend half his time in the office and half his time traveling to see customers. Now, he works about 15 hours a week and makes about $300,000 a year. He could work more, but he doesn’t see the point.
Dave spends his free time playing golf, exercising, going to self-care appointments, and doing household chores. He even takes a nap after the gym to recharge for the night. Not bad, right?
I used to think that running a lifestyle business was the best way to get paid more and work less. But since starting my own business in 2009, I’ve had many weeks where I ended up working normal 40+ hours. These days, I’m better at working around 20 hours a week. The main reason is parenthood, followed by knowing more precisely what I want.
There are three industries that probably have a better work/life balance thanks to the pandemic: management consulting, technology, and law. If you can work remotely in one of the nine no income tax states, then even better! You’ll get to keep more of your hard-earned money and have more work-life flexibility.
On the other hand, banking is a high-paying industry that’s booming right now. But with so many mergers, acquisitions, and IPOs, it’s unlikely that banking will enable employees to work less. Venture Capital is a cushy job, but the pandemic has probably made it less fun because there are fewer boondoggles.
Companies can monitor your conversations in any company-run software. They can also see everything you write in email. So, never conduct personal business on work equipment. And be careful with what you write in emails. Don’t use blasphemous, discriminatory, foul, or suspicious language.
If you don’t want your employer to track your keystrokes, mouse movements, and the websites you visit, there might be a way. You could set expectations up front, join a winning company, or even buy a mouse jiggler and use a green screen. But remember, there are ethical issues with these methods and you’ll probably get reprimanded if your company finds out.
Companies need to be careful not to overdo their surveillance monitoring of employees. Nobody wants to feel like Big Brother or Big Sister is always watching. A surveillance culture will negatively affect hiring. At the same time, companies have the right to get the agreed-upon full day’s work.
Most of the people I’ve spoken to since the pandemic began have said they’ve taken advantage of being able to work from home. Even parents, who’ve had to juggle both childcare and work, have said they’ve been able to use more company time to take care of their children.
In a strong labor environment, WFH employees can probably continue to work less and get paid the same if they want to. However, if there is ever another 10%+ correction in the stock market, I would tighten up the slacking and be more productive. Employees should also strategically be better employees during year-end bonus and promotion times.
As for me, I’m still on the path of taking it down next year. Given I believe one of the worst times to retire is during a pandemic, I decided to work harder since 2020. But once my two years of sprinting is over, I’m done. Even if I could work only two hours a day and get paid full time, I’m going to leave these work opportunities for others.
The best way to get rich over the long term is to invest in real estate. The more you invest, the less you’ll have to work because you’ll generate more passive investment income. Check out Fundrise, my favorite private real estate platform. They run private real estate funds that predominantly invest in the Sunbelt region where valuations are lower and yields are higher.
Another private real estate platform to consider is CrowdStreet. They source individual commercial real estate deals from various sponsors around the country. This way, you have more customization to build your own select private real estate portfolio.
So, what do you think? Have you been able to work less and get paid more during the pandemic? How do you evade company surveillance? Do you think companies risk alienating their employees if they surveil too much? What other industries or jobs are enabling employees to work less and get paid more? And what about the ethics of not working a full day while getting paid for a full day’s work? Let’s discuss!
