Posted on 12/30/2018 6:14:10 AM PST by Galatians328
A new data analysis by ProPublica and the Urban Institute shows more than half of older U.S. workers are pushed out of longtime jobs before they choose to retire, suffering financial damage that is often irreversible.
(Excerpt) Read more at propublica.org ...
I started my own brokerage business, doing the same things I was doing for a major energy company. Now I work from home when I want to, make my own coffee and skip the weekly rah rah.
I file taxes quarterly, tho...
Yup. 60 year old unemployed uneducated white deplorable here. Had my own gig for many years. Quit a year ago to take care of my son with cancer. Very little chance of getting one of them real jobs at this age.
Plus since I haven’t been in confinement for 40 years I don’t think I would last more than a few minutes with all this PC stuff anyway.
I’m sure some fit that category....I’m also confident that others fir the other possibilities. It’s been the “norm” for quite a while that life-long jobs are no longer the standard and one needs to be aware of where the company is going and find ways to fill the new niches.....this is a great example of why folks need to tend to their own retirement accounts and not make long-term plans on a highly volatile series of changes companies need to go through in order to stay competitive...
Yes. My comment was glib, but I think many corporate cultures are not prepared for the changes that come with replacing 50-year-olds with 25-year-olds. Sure, the new workers are “cheaper”, but they come with their own special costs.
I am in the trades and I have always been pretty much self-employed . I at 57 am in demand and I pray that I can be as fortunate as the ol’timers I saw growing up who worked (doesn’t matter what task)almost every day . I see myself gravitating to building 40’s-50’s era boats with some modern touches but the same hull and interior layouts ....I can’t imagine straight retirement....sounds boring and lack of physical movement to me spells a quicker demise .
There are several issues that need to be mentioned here:
1. The 50+ worker costs the employer much more than the 20+ worker, but is not always brining sufficient value to justify the higher cost.
2. Point #1 is exacerbated in technology jobs that involve constant change and advances.
3. I always advise younger people to be prepared to change their careers -- not their jobs, their careers -- every 8-10 years. Industries change so quickly that many jobs become obsolete even as you're advancing in them.
4. Education should never end for any working adult. You should spend the equivalent of at least 10% of your time in formal continuing education or informal reading to keep up with changes in your industry.
Same here. Working again, but it was a real kick in the teeth then. Company cutback. A lot of 50-somethings got it plus a couple of newbies to “make it look good” in case anybody sued.
+1
Just happened to my wife. If I could get the legal help, we could make a Federal case out of this one that would hit the headlines due to who let her go. My concern is there would be no support. That is what usually happens.
Turning 64,,
I’m chewing at the Bit
To Quit!
Medical is the hitch.
I’ll eat Dog food to leave
But a Health issue popping up
Is my biggest concern.
another way to part the elderly from their assets.
Happened to me as well in 2016 I am over 50 and White male, worked for Verizon in IT for 15+ years and in the round of lay-offs of 1500+ 80% were older workers...Now they are asking for voluntary layoffs from VZW’s workforce...many are taking the chance....
I had the same concern. Check into Medashare, it’s a share based health plan. It’s much cheaper than insurance and the doctors and hospitals costs get discounted. I fractured my leg in April and it only cost me $600.00.
Agreed,
I work with this group,
What ya gonna do?
Happened to me as well in 2016. I had been with the same IT company for 19 years and was the last US based developer in my department. I got another gig but took a big hit in salary.
Twelve years ago, I had that “not another day” conversation with myself, and took leave of my job. Two days ago, we sold a commercial property we purchased not long before I quit. It has been wonderful to be in charge of our own destiny, and now we have enough to live on/invest for the rest of our lives and leave a substantial nest egg for our three children. The answer I found is work for yourself, not someone else.
With Medashare, are you asked to pay others’ medical bills? Or do your monthly contributions cover others’ medical bills?
You're not entitled to, or guaranteed, continued existence. You're no longer indestructible. Death is staring you in the face. Therefore, every day you manage to not be fired, or not die from exposure living under a bridge is just a gift. Be happy.
Well, it took a while (previously posted threads attest to that) but I voluntarily left my last position while in my mid-50’s to take my current position that allowed our family to move to Phoenix. I am sole breadwinner, and putting aside 25 percent is impossible. I’m taking the alternative of not retiring.
Some employers are more willing to hire older folks, especially if they show flexibility. So, while I get to work at home, they do have me work 2nd shift andsome weekends.
I have also found the financial sector is more willing to hire older and experienced with a track record, at least for IT jobs. The young guns want the big bucks. Banks don’t like spending money on operations. That leaves folks like me in the talent pool considered.
The job opportunity spigot opened wide after Trump’s tax cut got passed.
I was let go but was able to retire. Company wants ‘fresh’,cheap talent and cheap H1B labor.
They don’t understand that you get what you pay for.
______________________________
cheap talent and cheap H1B labor. BINGO!
Jobs in STEM used to be a ticket to a comfortable middle class (or higher) lifestyle, but H1B Visa expansions (spouses, etc) and a never-ending supply of cheap foreign labor have taken a huge toll on STEM positions/careers.
My son is the only Caucasian in his department, same for spouse~they work in STEM fields.
Ageism is also a factor...Both feel they are similar to athletes with limited play time left...Son is in his early 30s...
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