Everyone I know is laid off by age 55

[Anonymous]

Anonymous wrote:

Anonymous wrote:I wasn’t in high risk high reward IT career. I am out at 52. So don’t feel secure that only those are affected by ageism.

Same here. Booted at 50. Salary was not high, $155k. Been a year. Not even close.

You have struggled to find a job for a year?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I wasn’t in high risk high reward IT career. I am out at 52. So don’t feel secure that only those are affected by ageism.

Same here. Booted at 50. Salary was not high, $155k. Been a year. Not even close.

You have struggled to find a job for a year?

This is not unusual at all in your 50s.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I wasn’t in high risk high reward IT career. I am out at 52. So don’t feel secure that only those are affected by ageism.

Same here. Booted at 50. Salary was not high, $155k. Been a year. Not even close.

You have struggled to find a job for a year?

This is not unusual at all in your 50s.

But what about all the news about labor shortages, hard to hire?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:^yep, financial plan is to retire before 59. If we can still get work, we will. But, we assume that we will stop in a few years. We hope to have about $2.6mil in just retirement accounts in about 3 to 4 years. Our mortgage is smallish (less than $200K), no other loans. College will be funded to about $140k per child.

Do you mean 2.6m each?

$140k per child. Is that a joke. My two kids are in out of state - state schools with merit aid in 2021 and all in costs around $150k each for a degree.

I’d they went Syracuse, Villanova, Fordham or Gerorgetown be more like 300k a kid.

Fordham is tell parents with kids in middle school to have 400k saved for college each kid!

For one thing, kids can go in state. For another, kids can take out a loan for the difference. That would $40K when they graduate. That's not *that* much.

There is absolutely no way I am paying for $400k college degree. The kid can go to community college for two years, then transfer, if needed.

This works only if the community college is of good quality. It worked well back in the 80s but today’s community colleges are often underfunded. My friends’ kids have struggled to get the necessary prerequisite courses for transferring to a four-year college. The ones they got are not of the same quality as the ones at the four year. Better plan is to go for merit aid or qualify for an athletic scholarship the family makes too much to get sufficient financial aid.

I have yet to see a suburban kid on an athletic scholarship whose parents didn’t put $$$ into their sport that could have gone in a 529. I’m sure that happens, I see underprivileged kids in the NBA etc. but for the suburban kids I know, for anyone who has gotten that scholarship, their parents could have saved for college or maybe also did save for college.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I wasn’t in high risk high reward IT career. I am out at 52. So don’t feel secure that only those are affected by ageism.

Same here. Booted at 50. Salary was not high, $155k. Been a year. Not even close.

You have struggled to find a job for a year?

This is not unusual at all in your 50s.

The problem is you think you are worth a professional salary, but your skills are old, stamina is down, and you need to accept a job with less responsibility and pay.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I wasn’t in high risk high reward IT career. I am out at 52. So don’t feel secure that only those are affected by ageism.

Same here. Booted at 50. Salary was not high, $155k. Been a year. Not even close.

You have struggled to find a job for a year?

This is not unusual at all in your 50s.

But what about all the news about labor shortages, hard to hire?

Shortage of people with 4-6 years of exp out of college.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I wasn’t in high risk high reward IT career. I am out at 52. So don’t feel secure that only those are affected by ageism.

Same here. Booted at 50. Salary was not high, $155k. Been a year. Not even close.

You have struggled to find a job for a year?

This is not unusual at all in your 50s.

But what about all the news about labor shortages, hard to hire?

Shortage of people with 4-6 years of exp out of college.

Why don’t the 55 year old take those jobs. Is it that huge a pay cut?

[Anonymous]

Interesting. Marketplace.org reported last night that 55+ Workers are not re-entering work force. Question is if that is their choice or employers?

[Anonymous]

This is gross generalization. What industries are you referring to where you are seeing this trend?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I wasn’t in high risk high reward IT career. I am out at 52. So don’t feel secure that only those are affected by ageism.

Same here. Booted at 50. Salary was not high, $155k. Been a year. Not even close.

You have struggled to find a job for a year?

This is not unusual at all in your 50s.

But what about all the news about labor shortages, hard to hire?

Shortage of people with 4-6 years of exp out of college.

Why don’t the 55 year old take those jobs. Is it that huge a pay cut?

I'll state again, companies want everything in one person but want to pay really low.

[Anonymous]

Ageism is real.

[Anonymous]

I’m in IT, made $170k as senior sys admin but laid off 2020. I’m 55, Asian female. I’ve applied everywhere and had zero reply.

What should I pivot to and how much should I expect to make?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I wasn’t in high risk high reward IT career. I am out at 52. So don’t feel secure that only those are affected by ageism.

Same here. Booted at 50. Salary was not high, $155k. Been a year. Not even close.

You have struggled to find a job for a year?

This is not unusual at all in your 50s.

But what about all the news about labor shortages, hard to hire?

Shortage of people with 4-6 years of exp out of college.

Why don’t the 55 year old take those jobs. Is it that huge a pay cut?

Insecure hiring managers won’t take them.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I wasn’t in high risk high reward IT career. I am out at 52. So don’t feel secure that only those are affected by ageism.

Same here. Booted at 50. Salary was not high, $155k. Been a year. Not even close.

You have struggled to find a job for a year?

This is not unusual at all in your 50s.

But what about all the news about labor shortages, hard to hire?

Shortage of people with 4-6 years of exp out of college.

Why don’t the 55 year old take those jobs. Is it that huge a pay cut?

I'll state again, companies want everything in one person but want to pay really low.

Even when a 55 yr old takes a job that pays like a junior, the team still has the bias to expect the 55 to perform like a mature senior level, to mentor and manage conflicts.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Banking. We just cleared out everyone 55+. Generous buyouts. But, we can replace 250k boomers with 75k millennials and even when we only get 2 yrs it makes sense.

But! Do you know how much cost a fully furnished "cry room" "safe spaces" and lifetime supply
of "weighted blankets" AND! one " cuddle me = my boss is mean = I need a hug" therapist per person per on payroll?

you made very POOOOOOOOOOOOOOOR business decision.

+ a million.

If you think millennial employees are fragile, wait till you see Gen. Z.