Involuntary ER

[Milton]

Here's an article that may hit home for some: globeandmail.com: Unwanted: early retirement

Extract:

Sussannah Kelly, president and managing director of Boyden global executive search in Toronto, says she is seeing a growing number of older, high-performing workers in senior roles losing their positions to younger, less expensive replacements. Many can't find new jobs precisely for the same reason. And many have either inadequate pensions or no access to them yet.

These older workers still have a lot to contribute, and often need to work, for both financial and emotional reasons.

"It's truly discriminatory," Ms. Kelly says, "but no one calls it what it is. You don't see this happen in progressive organizations, but there are still many organizations that don't have sophisticated or enlightened practices."

 

[smileydog]

I really pays to prepare early - at least you can take some of the pressure off an unwanted ER. I think / hope most on this board have found identities apart from their work life. I am in a semi-ER state right now and I can see how issues of personal identity can affect your attitude. It takes some effort to refocus and find a new purpose / passion that you really get into. In the book "Younger Next Year" the author speaks of the importance of finding something that you really care about. Whether job or hobby or whatever you've got to have a purpose to keep yourself sharp. ESRbob's book touches on this as well.

 

[Milton]

Yes, I certainly agree.

I am in a 'dead-end' position, with a high pay rate but questionable job security. I've found it very helpful to develop new passions and friends through hobbies. And having private means goes a long, long way towards takes the edge of the prospect of involuntary ER.

 

[tightasadrum]

My late father always preached to me about not relying on anyone else for a living. Deep down I knew he was right. Trouble was, I really did like what I did working for mega-corp. So about the only thing I could do, and keep working the job I enjoyed, was buy real estate. It worked out ok I think. Interestingly, his notions about the company throwing me out finally did transpire with plant closings, twice.