Is there a future after 50?

You work for years, even decades in your craft. You study, take training classes, and ascend to higher levels within your occupation simply by experience and time. Then, BOOM!!!! Your employer informs you that the job you’ve pretty much dedicated your life to, the place you’ve sometimes spent more of your life at than at home, will no longer exist. Welcome to the world of the Baby Boomer displacement. If you are of this generation like I am, you’ll soon discover that for a person 50 years of age or older, it will take approximately 5.8 weeks longer to find employment than someone between the ages of 30 – 49 years of age, and 10.6 weeks longer than those age 20- 29 (http://m.huffpost.com/us/entry/finding-job-after-50-study_n_7603590.html). This, of course, only heightens anxiety for those in limbo – you are close to retirement age but not quite yet so what are you to do? Creditors do not care if you are unemployed, they want their money!!! You still have to eat, there are things that must be attended to, and you still have to find a way to be productive and profitable. If you are fortunate enough to become gainfully employed, chances are you will make significantly less wages than with your previous job. Although there is a lack of specific data to examine the exact percentages in various industries in relation to wage earning shrinkage, individual accounts of finding employment after displacement shows most Boomers earn significantly less in their new positions (http://www.nbcnews.com/id/15537917 ns/business-answer_desk/t/how-are-older-laid-off-workers-faring/).

While there is a plethora of information concerning the financial, psychological, and health ramifications of layoffs and displacements, the good news is there are now programs in place – both governmental and private industry – which empowers displaced Boomers to seek training in the skills needed to compete in today’s market (http://www.whitehouse.gov/the-press-office/2012/03/12white-house-announces-details-president-s-plan-provide-americans-job-training). By taking advantage of available programs, older workers stand a good chance of assimilating into updated careers and skills.

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dkrPosted from WordPress for Android

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