If you were to lose your job at age 55+, would you retire/dial back or look for another full-time position?

[Anonymous]

I'm 60 and I just started working as a teacher. I could have retired, but just didn't want to. I'm not alone at my school - there are several others around my age also switching careers either because they have to work or because they just don't want to retire.

[Anonymous]

Anonymous wrote:I'm 60 and I just started working as a teacher. I could have retired, but just didn't want to. I'm not alone at my school - there are several others around my age also switching careers either because they have to work or because they just don't want to retire.

Do you like it? I've always thought teaching would be a satisfying retirement job.

[Anonymous]

I was laid off my 300k job at 54, got a 320k job, got laid off that at 57 then got a start up job for two years big pay cut, then started current role at 61 paying 250k.

I will keep working till o am laid off and can’t get a job.

55 is extremely young, it is someone born 1970. I got a job that age paying 320k. It is a lot harder at 60 plus.

55 is a spring chicken with a decade or more to go

[Anonymous]

Anonymous wrote:I was laid off my 300k job at 54, got a 320k job, got laid off that at 57 then got a start up job for two years big pay cut, then started current role at 61 paying 250k.

I will keep working till o am laid off and can’t get a job.

55 is extremely young, it is someone born 1970. I got a job that age paying 320k. It is a lot harder at 60 plus.

55 is a spring chicken with a decade or more to go

J1/J2 guy, you need a hobby. What exactly do you claim to have done for all these companies?

[Anonymous]

I’d retire, and as a Fed who was expecting a RIF notice about 5 months ago (I’m fortunate I didn’t receive one), fully expected to be retiring at the age of 58 if RIFed.

It’s a few years earlier than I had planned to retire (for financial reasons), but I wouldn’t have pursued another job. Because I could afford to not work, because I’d still have health insurance, and because I’ve been working full time since I was 19. Time to enjoy the “good” years I have left.

[Anonymous]

I’m 62 (lost government contracting job 3 weeks ago) and can almost afford to retire but I am a single parent with teen so I need good health insurance and more college $. Insurance expenses (health, cars, house) will suck me dry.

Also, I hated my last few years of working in a toxic boring job so I’d like to end my career on positive note. I already am a final candidate for 3 interesting challenging jobs so I will keep working if I get something I think I’ll enjoy for a year or so.

[Anonymous]

What part time jobs is everyone pursuing just to keep money flowing?

[Anonymous]

I’d like to say I would retire, but DH decided to pursue a startup opportunity at a big pay cut. We have a NW of $7M with college fully funded. I worry it won’t be enough to maintain our lifestyle, but I also have a few friends who have battled cancer (one unsuccessfully), so I don’t want to keep working when I know that tragedy can strike at any time.

[Anonymous]

I was laid off in my 50s when I was making the most money of my career.
OK. That was on $93k, but still!

We needed the money so I got another full time job and, at 63, am almost back to my old peak income.

[Anonymous]

I'd like to keep working, that will be ten years from now in my 50s. I'm going to have plenty of money either way.

That noted, based on the productivity and capability of our younger workers hired in the last seven years or so, I think they're going to need people like me long after that. I don't know what happened but around just prior to COVID time, something just broke in the work ethic and willingness to learn in our young staff. I'd been hiring a steady stream of good young graduates for ten years prior.

[Anonymous]

Anonymous wrote:What part time jobs is everyone pursuing just to keep money flowing?

This is my question too!

[Anonymous]

Anonymous wrote:

Anonymous wrote:I'm 60 and I just started working as a teacher. I could have retired, but just didn't want to. I'm not alone at my school - there are several others around my age also switching careers either because they have to work or because they just don't want to retire.

Do you like it? I've always thought teaching would be a satisfying retirement job.

I have never heard of teaching as a retirement job. It’s stressful, exhausting, and overstimulating. And then you take work home each night.

Soon, I’ll be retiring from teaching after a long career. I’m looking forward to a job where I can leave work at work. Going to the bathroom when I want to will be a nice perk, too. That’s how I define a retirement job!

[Anonymous]

This is a purely financial question for me and probably most people. If I could retire today at 45, I would. There are a dozen volunteer causes where I could spend my time, while taking better care of my health and family than I do now.

[Anonymous]

Anonymous wrote:

Anonymous wrote:What part time jobs is everyone pursuing just to keep money flowing?

This is my question too!

I would probably do something like pet-sitting if I didn't need a lot of money.

[Anonymous]

Happened to me at 53. I chose to retire. My spouse still works, we get health insurance through his job.