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[quote=Anonymous][quote=Anonymous][quote=Anonymous]We are a Fed family and locally know mostly either other Federal employees or BigLaw/lobbyist employees.

We have some family in friends in a variety of fields, such as hardware tech companies, biochem, health insurance, etc and all of them seem to be going through rocky careers transitions in their 50s.

Many have been laid off after being there for 20 years, then getting a new job for less money at a smaller company, rinse and repeat.  Or they are just laid off and desperately trying to re-tool their careers and get back to work.

Is it really that common to be laid off in your 50s, or is it just our skewed sample size with our friends and family?  Obviously we don't encounter that at our workplace, but at same time we haven't sen the soaring stock values in an EPP so there are obvious tradeoffs.[/quote]

Seeing it a lot among famiy, friends, coworkers and neighbors going through this. All I can say is live in a frugal manner and save. Live way below your means. [/quote]

We tried to do this, but when kids hit college, you have to spend a lot more money than you expected. We saved, and sent them to state schools, but it's costly, and ate away ate our savings. We have four kids, so two more to go. I don't know how we're going to get through this. I never expected to scrimp in my late 50s.

We have always lived below our means and very frugally, but college costs caught us off guard. And COL is so high in this area. Eating away at our savings, and job prospects are precarious. Very scary time. Not at all where I thought I'd be now. [/quote]

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