Unemployment ending -- need to withdraw to finance education

[chinaco]

I'd be careful about assuming "going back to school" is the way out. ...

Yes. But increasingly, that degree is a discriminator. Person A and B are similar... but person A has the degree.

Because college degrees are so common... it is rapidly becoming the cost of acquiring a "high paying white collar job" in certain professions.

It is difficult when one gets into a profession without the associated educational degree (now days) and then loses the job. Unless one has very specialized (and in demand) skills... they will face some amount of discrimination when looking for a job. A suitable replacement (same wages) may only come along if the job market is extremely tight... today there is a lot of slack in the employment situation.

 

[DangerMouse]

Like others, I am not certain that getting that piece of paper is going to change much for you except making your pockets emptier.

Have you ever taken a look at the typical hotel manager and noticed that they tend to be on the younger side? I would think that as someone else has suggested if I were you I would get a job as a night auditor. That would give you income plus a foot in the door for when other opportunities arise.

Truthfully I don't think it is necessarily the lack of that piece of paper holding you back. It is a crappy employment market out there, and not matter what employers say, your age is a handicap.

I think you would be throwing away the money you have to go back to school thinking this would solve all your problems.

 

[Dog]

I agree with others recommending that you find a job in the industry and go to school to finish your degree. You will gain insights to the hotel/motel industry, make contacts, have an insider advantage to opportunities, and possibly avoid age discrimination. Not to mention having "paid your dues". It will also allow you to minimize the amount you have to withdraw from your retirement savings. You have already lost 2 years....do you really want to lose more time? Good luck and keep us posted.

 

[ERD50]

I'm 49 and was laid off 2 years ago after 20 years -- final unemployment check to be received in about 3 weeks. ...

Somewhat of a sidetrack, but I'm curious and would be interested if you could offer a reply:

How would this have played out if you had received 6 months of unemployment checks, rather than two years worth? Would you have done anything differently, or just moved the decision up 18 months?

-ERD50

 

[haha]

I am no kind of expert, but I know a few people who work for Marriott. This is a really practical business, and actually a young person's business. $50,000 of savings is not much money, but it is more than zero, and if you used it and your business experience and good sense wisely it might get you to something you could count on. Get a job, any job, that uses your existing business experience, go to night school at a CC and get your accounting associate's, and then get a better accounting or finance or similar job and go to night school to finish a business or acounting degree.

You may be on Fantasy Island with this hotel stuff, unless you can convince someone that you are actually 19.

I have a niece who spent a lot of time and money becoming a journalist, and in spite of an excellent record from an excellent school never found a decent full time job, and she was 22 when she started trying. She now manages a small dry cleaning chain, and makes reasonable money with benefits. Her sister also struck out getting a professional job in her field, but she is making great money on her terms doing massage and running high tone yoga classes and privates for bored rich housewives.

Even if you are young, you have to scramble today, unless there is some way to hook onto the big udder in the sky that has been so much discussed lately.

Ha

 

[rescueme]

How would this have played out if you had received 6 months of unemployment checks, rather than two years worth? Would you have done anything differently, or just moved the decision up 18 months?

You asked the question I was thinking ...

When I was discharged from the military back in 1971, I was 23 with a wife/child to support (DW could not work, due to caring for our disabled son). Back in those days, six months of minimal unemployment insurance was the rule.

I had to get my rear in gear quite fast, due to the "rules and responsibilities" and had a job within six weeks, which paid about the same as I was receiving from UC. It wasn’t a job I wanted, but it was what I needed at the time. I only stayed there for a short time before moving on, but it was my foot in the door at the time and lead to better j*bs, better opportunities as the years went by.

 

[mystang52]

My wife and I are creatures of habit - we've vacationed at the same Marriott resort for 20+ years. In that time, we have come to know many employees who are still there. The common theme - they clearly had a work ethic, started at some entry level position there, and are now in supervisory or management positions. You won't walk into any hotel chain, with no experience, and start as a manager. I echo others who say take any job you can get at a hotel...or stick with the field that you have experience in.