Starting Over at 50
By David Stillwagon
Maybe it was just a few years ago that you thought that everything was going as planned, you were successful and even more importantly you were secure in your career. Things were great and nothing would change that. Of course in life things happen that aren't expected or wanted. 5 or 6 years ago the economy was doing fine due to the real estate boom. Unemployment was low and things were good. Then the real estate market bottomed out causing the rest of the economy to fall with it. The collateral damage was the loss of money in retirement funds and more importantly the loss of jobs. It wasn't only a few jobs lost it was millions and folks who felt secure before no long felt that way because they too were losing jobs. This can be particularly painful if you are older in the over 50 range. Now the future isn't so bright and you are wondering what it is going to be like starting over at 50.
What do you do first?
No one would blame you for feeling hurt and disgusted at the same time. You have worked hard all your life and you certainly didn't expect for this to happen. Like millions of other folks who lost their jobs you didn't deserve this but you will certainly have to deal with it in some way. Like most complicated problems or challenges the best first step is always to make a plan.
Maybe you aren't emotionally ready or financially able to retire right now so you have to go back to work. Unemployment benefits don't pay that much and they don't last that long either. And the last thing that you want to do is to dip into your life savings.
Most folks will try to get back into the business that they have previously worked for and that makes sense. If you have made any connections over the years now is the time to use them. Networking is always an important job hunting tool as well as a resume and cover letter. But today the most productive job search tool is the internet.
There are numerous job sites that list thousands of jobs, take your time and carefully look them over you might just find something there. Social media sites like Facebook or LinkedIn are great ways to let people know that you are looking for work and it might be that a company would even find you there.
After a job loss and starting over at 50 this would be a great time to start out in a new direction. Why not do something that you always wanted to do. Take a chance of finding a job in a completely new area other than what you were in, or better yet consider starting your own business, be your own boss. It is definitely worth considering.
David Stillwagon blogs about age and employment issues like being unemployed and over fifty.
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And in case you missed it, I published an article on Nov 18th about the Best Home Businesses for People 50+. If you missed it, click here to read it now.