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Reply to "Typical American Career path - esp after 50"
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[quote=Anonymous]Back in the early 90s my dad was laid off at 55. It was a clear age discrimination move, they laid off all over 50 employees and a lawsuit was filed (but my dad chose to not participate). He'd been director level and never returned to a professional position. Had lots of great phone interviews that immediately turned negative as soon as they met him and saw how old he was. He took on work as a handyman and managing their community center. DH was laid off at 59 from a IT contractor. Applications for another job went nowhere and he decided to just retire. So yes, layoff in 50s w/ little prospect for a similar position, is IME pretty common. In both cases, we did well with retirement savings and it's not a financial hardship. But if we'd overextended, bought a more expensive house, decided to have another baby (last kid started college with fully funded 529 right after DH's layoff), if would have been a big problem.[/quote]
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