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My husband and I were both laid off during the recession (we worked in newspapers). He has managed to start his own business and is making what he made before. I have had a difficult time getting interviews, and when I do, I'm informed that pay and health benefits will not be even close to what I earned in the past as a senior writer (and we never had great benefits in newspapers). We're on the brink of retirement and really stressed by some of the recent changes (no "file and suspend," for example). Newspapers didn't pay well and 401K's weren't matched by the company. My husband is healthy, knock on wood, so hopefully he can work into his 70s. I'll be sending out more resumes tomorrow....
Oh, wow. It's been 5-6 years ago, but yes. The years 2008-2009 were gruesome.
Both of us got whacked. My husband was PIP'd and then RIF'd from his job
of 29 years after a change in management. What a tortuous process that was,
for him and for me.
He was out of work for 4 months and finally found a new, similar position
where he was highly appreciated and felt good about his work.
Three weeks after he was hired, then the place where I'd worked and basically
done 2 jobs for nearly 2 years suddenly decided it didn't need me any more.
(Of course not, because I'd developed my subordinate very well. She eventually got my job. :-)
Nine months later, and once again, a change in management meant my husband
was once again moved out, this time via being asked to resign.
He came home midday with that letter in his hand, we looked at each other, and
I said "What the hell?"
So off we went to the carwash to ponder our next moves.
What constitutes "early" retirement is in the eye of the beholder. Traditionally "normal" retirement meant the Social Security full retirement age, which was 65 for my parents' generation, 66 for me, and it will be 67 for the next generation after me.
However, the way my pension was (still is) structured, age 61.5 is the point at which the maximum multiplier is reached, hence 61.5 constitutes a fairly normal retirement age for California public school teachers. Staying longer still results in a higher pension, but the increases are less than in the years leading up to age 61.5. We can retire at age 55, but the pension is severely reduced at that age, so hanging on for six more years is well worth it, if one is a California public school teacher.
Therefore, when I elected to retire at age 61.5, I considered it a normal retirement, age-wise. But that was from the perspective of my particular pension system, and I soon came to realize that many folks considered it an early retirement, especially folks from the older generation (for whom SS full retirement age - hence the "normal" age - was 65). One of my aunts commented how lucky I was to be able to retire early, and with the passage of time giving me a better overall perspective on things, I have come to agree with her. Yes, being set for a lifetime of reasonably comfortable but not lavish living at the age of 61.5 is damn good. I am lucky, which does not mean I didn't work hard for what I have, just that some worked equally hard and didn't end up with as much for a huge variety of reasons.
I did all my high-paying work in my 20s and 30s. By the time I had my second child, I was pushing 40 and exhausted from being pulled different ways by my home obligations and my high-tech Silicon Valley career. I switched to staying home to raise the kids while my husband became more and more of a high-flyer in his career--a career which led to a string of international moves for our family. When the recession hit, it shook our whole world. My husband had a major midlife freakout and started running around dating and having girlfriends like a young single guy. Soon after that whole nightmare, he walked out.
At 50, I was finishing up college and confident I'd find a decent job once I graduated. I don't know why I thought that would happen. I guess I was too busy cramming for exams to read the extremely bad news about older job-seekers. After graduation and a year of constant job-seeking, i landed a part-time, no benefits job in a low-paying profession. I've been stuck here ever since, and not for lack of constant striving to move up in the organization whilst also applying for all kinds of jobs elsewhere. I've been passed over for promotion twice. Both times the job was given to young women 25-30 years my junior. My boss values me and encourages me to keep trying, but has limited power to influence the byzantine interview process of a committee scoring candidates against a rubric behind closed doors.
So I guess what this boils down to is that I'm semi-retired at 55, even though I don't want to be and am constantly interviewing for jobs with more hours and perhaps some health benefits. I've done the rounds of UPS, Starbucks, local universities and school districts, local big-box retailers, grocery stores, etc. I feel that I'm loyal and a really hard worker, but nobody seems to want to give me a chance. I really think it's age discrimination. Once my 18-year-old and I applied for the same retail position, and my child got the job offer. I didn't even get a call-back.
I lost my job July, 2011, two days before my 59th birthday. Three of us were let go within a week....the three oldest people working in the US division of our company, and the 3 that did the best job. I spent a year on unemployment looking for a new job but only got one call and never got an interview. I couldn't apply for any jobs that require a lot of standing due to back and hip problems. After the unemployment ran out, I finally got a part time job for what was supposed to be 20 hours a week. When it got down to 2-3 hours a week it wasn't worth the gas to drive there. I turned 62 in July of 2014 and applied for SS starting Jan. 2015. Less than $900/month, but better than nothing.
Nope, no one is interested in anyone over 50, even if you do have skills. I have a college degree, medical background, and excellent organizational skills but no one is interested.
Perhaps if more of the public knew specific information, some employers (both in civil service positions as well as the private sector) would think twice about what they were doing and how they were hassling workers in order to get them to retire.
There has to be a highly publicized forum dedicated to this very issue where people can write about what's going on without fear of further retaliation. It might save more than one job or life if people or agencies knew they might be exposed.
It is so easy for us to forget that lots of people in almost every profession have suffered this terrible age discrimination despite laws that exist to protect us from this very thing.
It's sad when I read about food critics being made to pay huge sums to restaurants to which they have given less than stellar ratings. What's the point of being a critic if you can't say what is on your mind (or tongue in this case)?
There are those who would argue the opposite view which is that the restauranteurs have the right to protect themselves, and they are also right BUT if we do not have access to the truth then why read the column and why buy the paper and why not lets all stop what we are doing and spend the rest of our lives patting each other on the back for the great jobs we are all doing...that is, if we can wade through the mountains of four and five foot trophies our children have received just for breathing in the same place where their martial arts club or little sports team held any kind of 'competition'?
I did all my high-paying work in my 20s and 30s. By the time I had my second child, I was pushing 40 and exhausted from being pulled different ways by my home obligations and my high-tech Silicon Valley career. I switched to staying home to raise the kids while my husband became more and more of a high-flyer in his career--a career which led to a string of international moves for our family. When the recession hit, it shook our whole world. My husband had a major midlife freakout and started running around dating and having girlfriends like a young single guy. Soon after that whole nightmare, he walked out....
Alimony? Child support?
Just curious, what type of jobs did you have in your 20's and 30's without a college degree that paid so well?
My situation was more complex. I left a job and a city I loved to move to a city for a promotion at headquarters (mistake #1). I was told by a friend (who is no longer that) that it was a great place to work and the boss was great to work for. Neither was true. I walked into a hornets nest, with a horrible boss who was at war with the big boss (the one my 'friend' said was Ok). That person eventually quit and I was promoted again (mistake #2), where I reported to the big boss. She was without question the worst boss I've ever had. It was clear that she didn't really want me in the position, and I endured several years of great turmoil and even bullying. No surprise, but my health deteriorated significantly and a life long chronic condition that I have flared up, and I began to get injured. This from a woman with a public face who claims to be all about serving the public and doing good things for people. I was eventually put out to pasture. Didn't lose pay or benefits, but lost the job/work that I had spent my entire career preparing for. I was devastated, and deeply depressed. I thought life was over for me.
But a funny thing happened. She soon left, as did her #2, a sweet talking back-stabber, and I liked the person who stepped In until they filled the job. So the stress level went down, but unfortunately my health was damaged at that point beyond salvaging. I don't want to go into details, but trust me on this. So I retired early this fall, at age 54, on workplace disability (not SSDI). Approved without difficulty, due to my long record, including the recent injuries. I'd worked nearly my entire life, from early teens on, so I thought I'd be lost. I was one of those people who said I'd never retire. Ha.
And then an even funnier thing happened. I started enjoying life again. I moved to a lower cost area, where it is easier for me to get around and do things. So we are not as cooped up as we were there, and not wanting to kill someone every time we went shopping, just fighting the traffic, as we did there. But more important, I am realizing how much I attributed my sense of self to my success on the job. How much that status and approval meant to my self worth. And I'm realizing that life is wonderful, and worth living, even without those things. I am realizing how throwing myself into work all though years, chasing the brass ring, kept me from seeing what was important, and appreciating the simple things, and relationships, with friends and family. I hope to eventually work part time, but for now, regaining my health is my top concern. And I'm on the way.
I have no regrets about any of it. In fact, I'm grateful for the second chance at life. And truly happy for the first time in my life. Something I never would have guessed would happen when I was at my lowest point a few years back.
I received spousal support (alimony) for enough time to resume my studies at university and get my long-postponed degree. That's over now. My state believes in rehabilitative spousal support only. I did receive child support, the last of which will end later this year with high-school graduation. The cost of living is very high where I live (suburbs of Seattle). We three (two children and I) are all on Medicaid.
I will keep applying for jobs and striving for a job with more hours/benefits. Maybe it's a futile struggle, but I believe that I mustn't just give up at age 55. One problem is the fierce level of competition, especially for internal opportunities in the organization where I work. The other problem is covert age discrimination. It may be unconscious and unvoiced, but it's definitely a barrier.
I'll keep working part-time for as long as I can. I was really counting on restricted filing for spousal benefits at FRA as a strategy to allow my own Social Security benefits to grow as long as possible. Now that strategy is ended for people my age. The organization where I work has a pension benefit, but only for people who land full-time positions. There are many of us working part-time who are denied that benefit, as well as health benefits.
Quote:
Just curious, what type of jobs did you have in your 20's and 30's without a college degree that paid so well?
I got pulled away from my original university studies in my early 20's by an opportunity in Silicon Valley during the Wild West years of the dot.com boom. Nobody cared about a degree in that startup culture. I wasn't even technical, but I did well. I could not work in that high-tech environment now, though. The pressure is too intense and the demands all-consuming. My youngest child is pretty far along the autism spectrum and needs me more than the typical teenager.
No but the last 5-6 years have not been dream jobs either for both me and my husband. We couldn't wait to get out of there. I knew this would be the case before we these jobs, but there's job security. But the health insurance for retiree does help me to retire early.
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