| It's time for some real talk about remote work: It's getting riskier for your career. My fingers didn't want to type those words. Like many, I thrive from home. I'm focused, efficient, I save time and money not commuting… and I love it. But I'm also a personal-finance journalist. One of the tenants of the field is not only having a plan, but periodically reassessing that plan's risks and rewards. My point is that remote workers need to do that now. Here are three reasons, from just the past few days: - IBM issued an ultimatum to managers working remotely that they must move near an office and come in three days a week, or leave the company.
- UPS is laying off 12,000 managers and demanding workers be in office five days a week.
- Wayfair executives told staff that remote workers were more likely to be terminatedin the company's latest round of layoffs, according to a report in The Wall Street Journal.
To me, the business case for working from home is clear. A three-year study, co-led by Boston Consulting Group, showed sales at fully flexible employers grew at a faster rater than those that didn't embrace remote work. But that doesn't change the fact that remote workers are becoming targets as layoffs mount at big companies.  Photographer: Daniel Acker/Bloomberg So, as much as it may pain fans of remote work, it may be time to craft a new plan. Our jobs are often our most important investments, and financial advisers always say we need to keep the emotions out of our investment decisions. With that in mind, here's how remote workers should position themselves in 2024, according to career coaches and financial advisers: First, ask yourself why you're working remotely There are many great reasons to work from home. Surely, it facilitates an easier work-life balance. It can be a godsend, in particular, for those with health issues or family-care needs. The problem career coaches see is when clients have a more haphazard approach to remote work, especially if it's masking larger issues like workplace dissatisfaction. "Be clear about your trade offs," said Michael Urtuzuástegui Melcher, an executive coach in New York. For some, the risks associated with being away from the office may be worth it for the quality-of-life benefits. But if working from home is more of a mitigating exercise for a job you don't like, it might be time to think about making a change. It's also important to honestly assess how your company views remote work. All industries and workplaces differ; some bosses could care less about where you log in. Others love attendance checks. Getting an updated view is an important step of deciding whether you need to change tack. Don't hide from workplace politics Next, you'll want to assess what type of worker you are. One type — I'll admit to being in this category — is the sort of "heads down" remote worker who likes to just focus on getting the work done and avoid politics in-office. Positive as this may be for ticking off your to-do list short-term, it can have damaging long-term consequences, especially with firms conducting layoffs, said Monique Valcour, an executive coach in Nice, France. "You are a lot less visible," she said. "The onus is on the remote worker to make sure that you really are building those relationships, that you really are in touch with people, that you're trying to have as strong a connection as you would if you were in the office." Focus on value versus want A good employer will recognize employees may need a more flexible work arrangement to manage both their work and personal responsibilities. But a big mistake coaches see is employees failing to explain how working from home will help both them and the business accomplish their goals. "Your job is to make your boss's life easier," said Melcher. "You want to think about what are the needs of the manager and the company, and then show how you are meeting those needs. Get away from your preferences and just think about making a case that this is the best way for you to satisfy their needs." Staying remote? Stash those savings Sarah Behr, founder of Simplify Financial in San Francisco, said she recently helped a client looking to leave the Bay Area for Nashville, even though her employer, a large software firm, was cracking down on remote work. The client wants to keep working remotely, knowing this could lead to her termination. As such, Behr has advised her to sell her house in San Francisco and buy one in Nashville without a mortgage to cut down on a financial obligation. She tolder her to also stash six to 12 months of earnings away in a high-yield savings account, in case she is laid off and needs to tap her emergency fund. That path may not work for everyone, however. Douglas Boneparth, president of Bone Fide Wealth in New York, encourages staffers thinking of jumping ship because of new in-office mandates to think long and hard about changing workplaces for their remote-work policies. Job hunts can be more taxing than candidates expect, as can acclimating to a new workplace. As he says, "the devil you know is better than the devil you don't." — Charlie Wells Send us questions about your own financial dilemmas to bbgwealth@bloomberg.net We're looking to speak with people who are reassessing their remote-work plans. Are you or someone you know going into the office more given recent news? If so, we'd love to hear your story. Some of our best journalism at Bloomberg Wealth comes from your own stories and we'd love to hear from you, your friends or clients. Please email bbgwealth@bloomberg.net to share. We may contact you if the story goes ahead. How should parents deal with adult children who don't have jobs? Alvina Lo, chief wealth strategist at Wilmington Trust, writes: The first inclination may be to help your child get a job using your own resources or to push down a proscriptive action plan designed and enforced by you. The better approach may be to reframe this into an expectation and a conversation. Ask yourself what is your expectation of your child, and how does that expectation align with your values. For example, is the expectation that every family member maintains a job in order to live a healthy and meaningful life, or is it that the job is a prerequisite for other family benefits such as an inheritance? Once you're clear of your own expectations, then you can communicate those value-based expectations to your child. This can be done in a formal family meeting, or individually. Approach it from a "coaching" perspective rather than a "telling" perspective. Ask questions like: What is getting in the way? How do you think you can overcome this? What is your timeframe? By asking your child to define what success looks like, it allows them to own that outcome and develop the tools for success. Approaching this from a place of empathy and understanding could yield better long-term results than a problem-solving mindset.
 Photographer: Edwin Koo/Bloomberg | 
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