Video Length – 00:02:37

Transcript:

If you’re planning to work in retirement, you’ll want to listen up to today’s Two-Minute Retirement Solution. It may be time to consider nontraditional job opportunities available to seniors.

But first, take a look at this quote I recently came across:

That should make you sit up and take notice! The “gruesome” part is what caught my attention.

What’s the writer referring to? Driverless cars.

Yes, the idea of self-driving cars ruling the roads instead of taxis, Ubers, limos and semitrucks armed with drivers. And by “semi,” I’m talking about the big 18-wheel tractor-trailers.

This technology is especially significant to the retired population because a growing number of retirees make extra cash by driving limos and taxis or working for a ride-sharing service like Uber. And truck driving is gaining in popularity with seniors, too.

Just a year or two ago, Uber reported that nearly one-fourth of its drivers were 50 or older. And half of Uber’s drivers reported having no experience driving for hire before signing on with the ride company.

At the end of 2014, Uber reportedly employed 160,000 drivers. That number has probably grown over the last two years, but one-quarter of 160,000 means there were about 40,000 retirement-aged drivers.

That’s a lot of retired or nearly retired people who would be put out of work by driverless cars – from just one company in one industry.

Uber has already started a test program in Pittsburgh that allows customers to order a self-driving car through the app. So, despite doubts around the concept, it’s happening.

Driverless technology will threaten 4.1 million car and truck driver jobs in the U.S. And there’s a sizeable number of retired folks working in the industry.