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My friends and acquaintances in the engineering field who started out getting excited over new ideas long ago went fallow and lost their risk tolerance at the same time. I learned that when I tried to interest them in some of my new ventures. I no longer even bother. They think I’m some sort of freak of nature because I’m still at it.
Startups work their people to death. Those people didn't go fallow, they wanted a life outside of work.
Startups work their people to death. Those people didn't go fallow, they wanted a life outside of work.
If after accumulating thirty-plus years of experience you haven't yet learned how to work smarter rather than harder you're just not cut out for life as an entrepreneur.
Group policies cost the same for ALL employees. It doesn't cost more for individual over 50 than it does for someone who is 21. This is true even before ACA. This is the point of a group policy they are covering a group of people. Your information is wrong.
Yes, policies cost the same for all employees, but the overall cost to the employer will be vary based on the age and health of the group, the company's claims history, etc.
I was thinking about why I don't see startups staffed exclusively with older employees, especially engineers. If you have savings in the bank the risk would be low and the work might be interesting. Paying in equity would reduce cash needs and not mess with those on the ACA subsidy gravy train.
One theory I can think of is that industries that generated 30-40 year veterans with beaucoup domain knowledge have matured to the point that is practically impossible to break in at this point. That's certainly the case in anything I know about, it's all winnowing down to a few large firms with Asian manufacture and the ability to push their costs down due to volume.
I suppose that it would be possible to dig up some boutique specialty concept, so perhaps that's not enough of an excuse.
It would be great if companies wanted it. I have mentioned almost similar idea during networking or talking to small companies that need getting things going. No go. They are mostly looking for people 21-30, some new graduates, or small experiences people to teach. Even you tell them you have flexible pay arrangements, they shut the door on that thinking you are stealing their idea or something most times. It is a good idea, wish companies felt that way. Perhaps when they get over their thing about "thinking cheap".
What they are thinking ("thinking cheap"): How can I move it overseas for cheap labor exploitation and getting rid of environmental and OSHA, etc? How can I hire cheap labor in US like recent graduates or people I train who are unqualified like non-engineers for what is basically an engineering job, etc? How can I hire somebody with no degree but certified? Then of course: How can I sell to a big company?
All of this is the result of companies letting the accountants run the business and not the creative side of the company.
I have never worked for a company that has a balance between creating new and innovative products and increasing profits to shareholders. They are both required for a healthy company but more often than not, short sighted profits reign over innovative product creation.
Too many times I have been told by VPs "We don't need new/better products, we just need to keep making what we make but cheaper"
If after accumulating thirty-plus years of experience you haven't yet learned how to work smarter rather than harder you're just not cut out for life as an entrepreneur.
"work smarter" does not mean what startups mean - they want 80 hour workweeks. Quality of work is irrelevant. Don't you dare leave before the boss does.
And one is not cut out for life as an entrepreneur if they don't have 1) sufficient funding 2) a sustainable business plan and 3) business acumen. Any one of those is missing, your business becomes one of the 90% bankrupt in 3 years.
Everyone in a group policy costs the same. That is the point of a group policy. There is no special extra cost based on an individual's age with employer group policies. An employer can have different classifications for employees and offer different health plans, but they aren't based on age. They are based on the employee classifications in the company. For example, you can offer a group plan to part-time employers as a classification, another class would be full-time employees and another could be a class for officers and directors for the company. None of these are age based at all. It might be the officers and directors are older, but there is no magic number to charge a different insurance rate for those 50 and over.
"work smarter" does not mean what startups mean - they want 80 hour workweeks. Quality of work is irrelevant. Don't you dare leave before the boss does.
And one is not cut out for life as an entrepreneur if they don't have 1) sufficient funding 2) a sustainable business plan and 3) business acumen. Any one of those is missing, your business becomes one of the 90% bankrupt in 3 years.
Mark Zuckerberg didn’t have any of those three when he started Facebook. What he had was a visionary idea for a new product and the passion to see it thru. Funding, a business plan, and business acumen came second. It’s that vision and passion necessary to start your own company when you’re out of work and no one will hire you that I find sadly missing in engineers over fifty.
I was wondering how hard is it to find full time job after the age of 50 for an Electrical engineer. I went to good schools and have had stable employment for many years. I am currently in my late 30's so not really 50 yet.
The reason I am asking is i am considering switching jobs at the moment, and not sure how things will be in my new job. If it is not great, then may have to switch again, then again and i am looking at 50.
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how hard is it to find full time work after 50
