U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Retirement
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 04-15-2015, 12:42 PM
 
195 posts, read 182,754 times
Reputation: 387

Advertisements

I was laid off my job a few weeks ago after 26 years in the company. The people at my ex employer told me I will enjoy retirement. But I don't want to retire! I am 59 years old and wanted to work full time for at least another five years, maybe more.

One trouble is that I was paid way over market for my job and had a fancy title with limited responsibility for someone who was paid so much and had a DIRECTOR title. Now I may be forced to retire because few people will hire anyone for another full time job who would have to take a 40% pay cut. (In all honesty for what I did the market would pay me forty percent less than I was making, but I was not complaining when they paid me so much!)

So if you are retired now, can you relate to my situation? Were you forced to retire after being unemployable in the twilight of your career? Or did you go back to work after being fired or laid off at age 55-65 after a pay cut.

Retired? Tell us your story about job loss at the end of your career.
Reply With Quote Quick reply to this message

 
Old 04-15-2015, 01:16 PM
 
176 posts, read 509,935 times
Reputation: 303
Start your own business.
Reply With Quote Quick reply to this message
 
Old 04-15-2015, 01:18 PM
 
Location: San Antonio
7,629 posts, read 14,377,206 times
Reputation: 18706
Since you were in a management position, do your skills allow for you to do "consultant" work???
Reply With Quote Quick reply to this message
 
Old 04-15-2015, 02:41 PM
 
16,720 posts, read 14,692,102 times
Reputation: 41119
Hmmm. Seems I've seen this story somewhere before, from someone who was fired and became Retired.
Reply With Quote Quick reply to this message
 
Old 04-15-2015, 03:58 PM
 
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
22,552 posts, read 39,934,465 times
Reputation: 23683
Will be nearly impossible to get that type of high paying employment (at any age).

I was 'downsized' at age 49 (with 32 yrs service) and found it very difficult to enter another field (even after 'retraining / masters degree program). The hiring managers are your kid's age and want to employ / be true to similar aged co-workers. They are often intimidated by age / experience, and there is some truth to us older workers losing our passion / desire to work 70+ hrs / week.

Some sort of self employment will be your quickest path to earnings.

With your 'director' experience, You could look for a company that is needing a succession plan / manager.
Reply With Quote Quick reply to this message
 
Old 04-15-2015, 05:27 PM
 
Location: Myrtle Beach
1,498 posts, read 1,189,644 times
Reputation: 3790
Look into non-profits. They may be very happy to get your expertise at a "bargain price".
Reply With Quote Quick reply to this message
 
Old 04-16-2015, 03:09 PM
 
3,752 posts, read 9,601,974 times
Reputation: 7044
My husband and 4999 others were laid off about 7 years ago. He qualified for early retirement. It was challenging but he now works 6 days a week during building season with Habitat for Humanity, Building wheelchair ramps with another group, and delivering food with three other guys for a food bank. He has time for an afternoon nap, gets social interaction and is out of the house.

He did not need the money working could bring in and did not want to take a job from someone who needed it so all his time is volunteer.

Another benefit is the time is there to workout during down time and to take vacations whenever we want.
Reply With Quote Quick reply to this message
 
Old 04-16-2015, 03:14 PM
 
Location: Montana
1,752 posts, read 1,653,911 times
Reputation: 5951
Quote:
Originally Posted by convextech View Post
Hmmm. Seems I've seen this story somewhere before, from someone who was fired and became Retired.
Yup: 26 years at same employer then laid off at age 59- HELP!

Same poster, but it really is two different topics on the same problem 1) how do you get employed at 59 to keep working 2) how do you make a forced retirement work if you weren't prepared for it and are unable to secure employment.
Reply With Quote Quick reply to this message
 
Old 04-16-2015, 08:19 PM
 
Location: North West Arkansas (zone 6b)
2,672 posts, read 2,011,092 times
Reputation: 3670
my Sister got laid off around 57. They made it increasingly difficult for her as a vice president to do a reasonable job. Piling work on her plate, sending her to london for a quick meeting. They wanted her to quit, but in the end had to lay her off.

Her husband got laid off when the company got bought out. Now they both find themselves forced into early retirement.

I think the company's need to purge the older employees to keep healthcare costs lower, obviously that's age discrimination but they always find a way around it..

I resigned from my job to relocate with the full understanding that I probably couldn't find another job in the same field... heck I didn't WANT a job in the same field.... now I'm just looking for something to fill my time.
Reply With Quote Quick reply to this message
 
Old 04-17-2015, 07:23 AM
 
2,287 posts, read 1,572,621 times
Reputation: 3028
After 25 yrs doing new home construction, I was forced to re-invent myself in 2008 with the housing collapse. I tried working in another field for someone but that didn't work. Too frustrating not being able to call my own shots. I was introduced to someone looking to start his own business. After a couple of months we took the plunge. I knew nothing about his industry service yet I was excited and scared to learn. Six months in I took over the business and brought my son in. Two years later my wife quit her job and joined the company. We now have a small family business that can be as busy as we want to be. I can work as many hours as I want or take as many days off as I need. Besides ourselves we employ three other people. I plan on collecting a paycheck till 70 and my wife will till around 65. So far these 15-25 hr weeks are not too rough. I see too many people stuck looking for what they only have known. Sometimes the answer is out there, but they don't see it.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Retirement
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2019, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top