Reply to Do you know anyone laid off for an extended period of time? What was their situation?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Are you kidding, OP? Months is the bare minimum these days. It’s brutal. Especially in your 40s or older. [/quote]

So how are you supposed to support yourself or your family? [/quote]

they don't care. "should have planned better. don't you know families are expensive?"

a friend got laid off from a tech job in their 50s during covid and has not been able to get a job since. still get interviewed occasionally but they are resigned to downsizing and living on what they managed to save.[/quote]

Umm, you should always have an emergency fund for unplanned job loss.

Do you think any employer owes you a job for life?[/quote]

no, but they've been applying regularly to jobs for years and still can't get one. no one thinks they are owed a job for life but it's completely demoralizing to not be able to land a job in one's industry for years at a time. and they have funds, but given that it appears that they will not be able to get another job again, they have to now leverage their brokerage accounts and savings to get them through to where they might be able to start also taking distributions from retirement accounts.

its also the difference between leaving something meaningful to the next generation as opposed to just covering their own expenses for however long they are going to live. And oh yeah, don't look at the market anytime soon.

the point being, when unplanned job loss hits in ones 50s, sometimes that's just... the last meaningful job. boom. and there are a LOT of such folks getting hit with that in this area. [/quote]

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