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Business as Usual?

Episode 28: Business as Usual?

In this new episode of The RevolutionFI Podcast, Tim and Jim Kukral discuss the possibility of business as usual during the pandemic.

“So, the question is this: How can 50+ folks like us, honest and hard-working, how do we manage our current responsibilities and still plan for retirement? 401ks alone won’t be enough and we don’t have 40 years to save, so how do we leverage our experience and wisdom to gain financial independence? That is the question, and this podcast will give you the answers. My name is Tim, and welcome to the Revolution. The RevolutionFI podcast.”

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Music: Cool Rock by Kevin MacLeod

Link: https://incompetech.filmmusic.io/song/3552-cool-rock 

License: http://creativecommons.org/licenses/by/4.0/ 

TRANSCRIPT:

Tim Desmond  

Alright. Happy Sunday morning to you. I’m Tim, and this is the RevolutionFI Podcast. Hey, if you’re liking what you’re hearing, please tell someone about it. There’s nothing like word of mouth, and I’d really appreciate it if you just told someone else about the podcast. I got Jim back with me again today.

Jim, you have your coffee ready and your bagel for our Sunday morning talk?

Jim Kukral  

I’m going full Mountain Dew, Red Bull ready to go today. Let’s go.

Tim Desmond  

Alright, he’s jazzed up. Let’s do it.

Jim Kukral  

I’m kidding. If I actually drank any of those, my heart would explode.

Tim Desmond  

I can’t drink that stuff anymore. Maybe when I was a kid, but not now.

Jim Kukral  

Yeah, me neither.

Contact Tracing Solutions

Tim Desmond  

Yeah, I thought there was an interesting article in The Hustle newsletter, which is another one of my favorite newsletters. The title of the piece in the newsletter was With a Vaccine Insight, These Startups Will Help Offices Reopen. The Hustle went on to talk about the different workplace-specific contract places such as Envoy and office management platforms. They have CareValidate, Hipla Technologies, etc. These are all monitoring contact tracing solutions that they think might be used when people start coming back to offices. As I read this, I thought, this is something I’d like to ask Jim about because you haven’t worked in an office in a very long time. Do you think people are gonna be going back to offices?

Working From Home

Jim Kukral  

Yeah, I mean, I know a lot of people who work for some pretty big companies. I know many business owners. A lot of them are not. I have a friend who works for a really big medical manufacturer, a publicly traded billion dollar company. He runs their HVAC division, and he’s in charge of about 300 salespeople, and they used to have their own building on the campus. The company’s like, you know what, you guys are kicking butt. We don’t ever need you to come back. He’s like, we’re not gonna reopen the building, you’re doing great. Just everyone work from home for the rest of their careers, and keep your numbers up. We don’t need you here. That’s happening, that’s legit.

That’s gonna be a trend, and you’re already seeing that with younger generations–Gen Z and Millennials. You’re already seeing that it was harder to keep people around because you weren’t letting them bring their dogs to work, and you weren’t letting them work from home when they wanted to. So, I think this pandemic just changed things. In terms of contact tracing, that’s all gonna be done through these phones eventually, right? Everyone’s gonna be tracked anyway. I see a future where you walk into a Costco, an alert goes off into your phone, and it’s like a radio. What’s the Geiger Counter? Yeah. It starts beeping and going, hey, man, you’re at 85% risk, because of all these people. I see that future coming in, so I just think that this is all gonna take care of itself. I think that this is gonna change everything.

Coming Back to the Office

Tim Desmond  

Yes. I don’t know what’s gonna happen with a lot of these real estate companies in cities like San Francisco and New York and LA. You know, there’s a lot of money at stake. If there are a lot of people who are not coming back to the office, I don’t know what’s gonna happen to all that space.

Jim Kukral  

Yeah, I’m definitely not a commercial real estate developer, but if I was, I’d be sweating it right now. For you and me, though, I don’t think it really matters. I think this is obviously gonna help us people who can do jobs from anywhere. It’s proving to businesses that you can be successful and be profitable, and you don’t have to have your employees under your thumb all the time. The hardest part for that is the people who are the control freaks, who love tabbing their employees and seeing when they pull in, and being there late and all that stuff, but I got news for those guys. People don’t want to work like that anymore.

Tim Desmond  

No, they don’t. Those days are gone, for better or worse. Well, cool, man. That wraps a full week of having you on the RevolutionFI Podcast. I so appreciate you coming by and hanging out with me.

Jim Kukral  

I feel like we created some kind of revolution this week. Very excited.

Tim Desmond  

I like what you did there. Great, everyone. You’ve been listening to Jim Kukral this week, and I will be back tomorrow morning with another episode of My FI. I’ll be talking about my own financial independence journey. Thanks again, Jim, and everyone else. Have a great rest of your Sunday, and I’ll see you tomorrow morning.

Transcription by Otter.ai, please forgive the bot for typos and mistakes.

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