Suddenly retired! - Page 3

Eileen in Virginia · ‎08-25-2010

I agree that you were laid off and should look into applying for unemployment benefits. If you're eligible, this would provide you with recurring payments for daily expenses so you won't have to dip so far into your severance pay. The advice to think of yourself as a new widow is excellent. You need time to regroup after holding a high-paced, highly stressful job - to some extent, your identity has changed based on being laid off so suddenly. Don't make any rash decisions. This is a time when you can decide what you want the next 5 to 10 years of your life to be and act accordingly to accomplish that. This might be a good time to take a short vacation to decompress (it doesn't have to be expensive, just get away). When you return you can decide if you want to look for another job (either full-time or part-time), volunteer, etc. I retired 5 years ago at 56. It was exactly as I planned and I've never looked back. I think I would have panicked if they'd laid me off so callously when retirement was on the horizon. My husband retired in August and we've started traveling and doing other things together that we couldn't take the time to do while we were working. Good luck and don't let them get you down!

AnotherView2 · ‎06-19-2011

On 1/26/2015 adelle38 said: First of all, check out your health insurance with a broker a and make sure you're getting what you need at the best rate. Unless you were planning on your boyfriend move in before, you might be better off waiting until you have a little more time to consider. Relying on him for financial support seems risky to me. Are you considering looking for another job ? You might be surprised how much money you need when you retire. Perhaps you should consider part time work. Give yourself some time to think about what you want.

All good advice, especially line 1 above. COBRA prices for health ins,.are always excessive. Seriously consider the Healthcare Marketplace instead. When my husband got laid off at the end of 2013, we paid COBRA prices for 2 months and then we went to the Marketplace and SLASHED our family's premiums. Fortunately he is back at work and we are on company plan. But, the Marketplace saved us.

Meowingkitty · ‎06-19-2010

On 1/26/2015 twopeas said:
Lots of good advice here; however, the bottom line is that really s*&ks. Employers haven't figure out yet that the older generation has their children raised (no calling in sick w/ ill children) and have a greater work ethic than many of the younger group. As a manager in my past life and responsible for hiring and firing, I speak from experience. Don't jump on me, young folks, I know that many of you are awesome employees. I was young once, too. I venture to say that it's all about having to pay pensions with the more mature group.

Corporate America just doesn't care. My former company was so busy hiring the pretty people (young, skinny, blond and generally would work for peanuts) while plotting to get rid of anyone over 40.

rhinovodka · ‎07-29-2013

My former boss was let go in her late 60's. She was planning on working another year or two, however she was able to get unemployment benefits. I think you have received some great advice here. Good luck to you and I hope everything works out.

AuntG · ‎03-09-2010

It happened a year ago to a friend at work. After taking the 6 month severance pay, she was entitled to 6 more months of unemployment. Having applied for 4 jobs a week for all six months, she was never contacted for even one interview. Like she said, even though they don't ask your age, they can figure it out by what you put down for the questions about education and previous work experience.

Meowingkitty · ‎06-19-2010

On 1/26/2015 AuntG said:
It happened a year ago to a friend at work. After taking the 6 month severance pay, she was entitled to 6 more months of unemployment. Having applied for 4 jobs a week for all six months, she was never contacted for even one interview. Like she said, even though they don't ask your age, they can figure it out by what you put down for the questions about education and previous work experience.

They can google your name and there are sites that give your age. Not very hard to find. Plus they check out all the other dates such as graduation dates etc and figure it out. The others that were laid off with me are all between 45 and 61 and none of them have gotten a job. They know how old you are just by doing a little research.

terrier3 · ‎03-10-2010

On 1/26/2015 AnotherView2 said:
On 1/26/2015 adelle38 said: First of all, check out your health insurance with a broker a and make sure you're getting what you need at the best rate. Unless you were planning on your boyfriend move in before, you might be better off waiting until you have a little more time to consider. Relying on him for financial support seems risky to me. Are you considering looking for another job ? You might be surprised how much money you need when you retire. Perhaps you should consider part time work. Give yourself some time to think about what you want.

All good advice, especially line 1 above. COBRA prices for health ins,.are always excessive. Seriously consider the Healthcare Marketplace instead. When my husband got laid off at the end of 2013, we paid COBRA prices for 2 months and then we went to the Marketplace and SLASHED our family's premiums. Fortunately he is back at work and we are on company plan. But, the Marketplace saved us.

I'm happy to hear about your positive Marketplace experience.

I sell direct and Marketplace policies for a major health insurer. Even if you don't qualify for a discount on the MP, you can usually buy a direct policy for a lot less money than COBRA too. The COBRA system includes a mark -up, that goes to your former employer - up to 10%.

We anticipated insuring a lot of 20 somethings...instead at least half of the people we see are 55+ and have lost their long time jobs. The MP can save you a bundle!

siennasoleil · ‎03-20-2010

Everyone's situation is unique of course, but just for me- I would NOT depend on a boyfriend to help support me/pay all bills. I wouldn't like that feeling.

terrier3 · ‎03-10-2010

Re: future employment...

You might be surprised to find out how many places APPRECIATE someone with experience.

The economy is picking up...I'm sure if you want to work, you will be able to...maybe just p/t?

OkeyDokey · ‎06-04-2010

58 is so young! Take a moment to get your feet back under you, and then decide what you want your next chapter to be like. I know people who have accomplished awesome things at ages far more advanced than 58. So....what do you want your life to be? Decide and then make it so.