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 ...
ping
They got me at 48 but I’m in tech, which is prob equivalent to 65+ in any other field. They didn’t just push out the over 40’s, they pushed out most of the native born Americans. Being white, male and middle age has not been helpful either. The arrogant millennials will face their own age related job execution as well one day. Karma is a bitch.
One Cannot get the Time back,,
I don’t want to be carted out
Of the Shop on a gurney Again!
Good luck to you and your son. Prayers up ...
Ageism is definitely a real thing, especially in Silicon Valley.
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I’ve read that tell-tales like double spacing between sentences will get a resume tossed out - by coding - not even reviewed.
I was skeptical about a lot of these claims of computer screening of resumes, but I hired a writing service and it was much more effective than the classic resume format most of us were taught.
As soon as I realized (45 years ago at the age of 26) that an employer had to make a profit off me in order to employ me, I realized that having a “job” meant being underpaid. I had to produce more than I was paid for things to work for the employer.
I went into business for myself and never looked back. Retired at 60.
The whole article fails to mention the obvious 800 gorilla in the room, which is the reason why so many are forced out.
If this HR manager doesn’t know ‘why’, it’s no wonder he was fired.
It doesn’t matter if you do hard physical labor, or get paid for your brain power and education, the reason older workers get forced out is...health insurance actuaries!
There is a formula that says 50+ is the age that most big health care expenses will come, and employers have learned to NOT have too many 50+ employees.
The insurance rates for group polices go through the roof for having a older workforce.
Stay away from Medicare Advantage Plans. They are designed to ration healthcare by rationing the money that is made available. The “traditional” Medicare plans (A through F) have no such constraints. Medicare Advantage is fine so long as you are reasonably healthy, but become problematic if you get sick. I actually, in a perverse way, should thank Obola for Obolacare, because it caused my MA Plan to be cancelled. Under Medicare insurance rules, once you’re in a plan, you cannot, in the future move to a better one (presumably a cost containment motive). But when my MA Plan got cancelled, it opened up the opportunity to upgrade to a better plan. Regular Medicare Plans were then available to me by reason of the cancellation. Otherwise, I’d have been stuck with MA whether I liked it or not. Neither of us have had a single hiccup with Aetna, with the exception of a couple of instance where our doctors had incorrectly coded a service.
“Do it while your health is good and you can enjoy life”
There is a lot to be said for that but it’s tough to enjoy life if you have to watch every penny. Money is not important if you have enough but if you don’t it becomes pretty damn important. So it retirement is a balance. I got on SS as soon as I could because I am convinced they are going to move the goal posts. They are going the have to something very soon. I am lucky enough to have a stable pension to help the cause. But those days are finished. Schools spend much time cultivating SJW’s but they do nothing to educate kids about financial security.
” Also medical costs are higher in older workers.”
Ding! Ding! Ding!...we have a winner folks!
I believe if one was to do a study, one would find that Harvard MBA's have probably ruined more companies than one could count.
Part of my career (way back) was at the phone company. There's no way that jobs at the phone company can last given the rate of technological change. Simply put, you cannot base a career on large numbers of people buying landline service.
We haven't really used it yet but your post is encouraging.
Bmfl
100% correct. I spent 5 years with ABI, ATTIS and Lucent watching management destroy what could have been a good, viable company with a knowledgable, willing workforce. I can't tell you the number of meetings I attended or tapes I viewed where the phrase, "We welcome the competition" was uttered. It got so bad that workers would burst out in guffaws whenever it was heard.
As inept as the management had become in NYNEX by the time I returned in 92, it was a damned sight better than what I had left at ATT/Lucent.
Out of work now with little hope.
Joined a class action suit against PWC a couple weeks ago. As usual the plaintiffs won’t see a penny, but these are necessary to change attitudes.
This is absolutely correct and is, in fact, the 800lb gorilla in the room.
Every person who is 50+ drives the average age up considerably.
I worry about that too. I eligible to start collecting but am trying to postpone starting due to the increase in $ if you can delay. I get a small pension and collect some for my investments but the real blessing is owning all of my stuff and being debt free. You are right about the schools not teaching financial management. I never got schooled formally and had to learn the hard way. Everyone needs to learn to live within their means, including to save a bit for the future. Give up pizza one night a week, stay home instead of going to the movies, etc. The nickel and dime spending will hurt you. Hmmm... Maybe the government should go to a financial management class...
this probably was brought on by a worthless Harvard MBA who was running the firm for which he worked. Harvard MBAs are among the most worthless people with whom I have ever had contact. They are imbued with the mistaken idea that their $hit doesn’t stink, although they know really very little about business and they treat people around the deplorably. The country would ream untold benefits if Harvard was to cease to exist. Yale should probably suffer the same fate.
Yale deserves to be in the same trash can as Harvard. Throw GW and Georgetown into the East Coast evil bastards.
In the west coast, Stanford and USC are like the Ivy league evil bastards.
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