Hi my job was just eliminated at age 63

[DCJennifer]

DCJennifer, I think you're going to get a new job in no time! I can tell by your thoughtful and clear responses to this thread that you have great skills. I know ageism is out there, but also there is a huge need for people who are willing to be organized and detail orientated without a desire to run the show (like millenials!). Don't underestimate your experience. Admin jobs run the world and it is really really hard to fill them with people who want to do the work!

I agree to wait a little bit to sell the car. Take a deep breath. Get some help with your resume and customize your cover letter for each position you apply for. Find some health insurance to tide you over. Put up a profile on LinkedIN and see what is out there! You can end up in great place to finish up your career! You got this!

Liz

Thanks for your encouragement. I have a linked in account and have had one for quite a few years --just did not need it until now. I applied yesterday for a position and have already been contacted for an interview this week. I am most encouraged. I have severance which will last until the end of March I believe if I am careful. I may need HI and will definitely purchase some if needed.

LOL I have run the show and there is no glamour there for me. I enjoy doing Admin and even did it in my nursing career. I do not care if I am the top banana so long as I am working for a good boss and organization.

 

[DCJennifer]

Thanks so much for your input. I intend to do so.

 

[DCJennifer]

We use liberty healthshare for insurance. If you have no preexisting I think this is better than aca.

You seem.to want to do a lot of negotiating about job choice, as if you have that luxury. I don't think you have that luxury. I think you need a paycheck. You are not financially independent, aka get a job. Once you have a job THEN you have some luxury to move into something better. You are eligible for Medicare at 65. Medicare is not free, it's just relatively cheap. Full SS is 3 years away. In the meantime the fantasy of "choices" will leave you broke.

Thank you. I am not broke and do not intend to be. It is not I who is choosing what I will and won't do--it is the workplace. I am 63 as stated earlier and I have been looking aggressively since I was fired. No jobs were replying back in December due to Christmas, the local hospital is not hiring as Johns Hopkins just acquired them and they want only recent grads-which may make sense to many here. I have severance which could last through March if I am careful. Furthermore I applied for a job in medicine yesterday and have already been contacted for an interview this week. I am not sure what you mean by not being "financially independent". If it were my plan, I would work until age 70--I am not sure that many on this forum have done that. I have $150,000 in my IRA due to a divorce and a huge dip in 2008. Not all of us are investment wizards or have inherited wealth to tide us over, please be kind in your responses. I also have an additional $20,000 in my bank account for emergencies to help me. I have saved as much as I can while living in a high cost area of the country. I am doing the best I can on my own. I asked for help on this forum because of my job elimination at my age. I have never had to be on severance in my life and it does not sit well and now no UI benefits....that is why I wrote in. It is not that I am picking and choosing for a job--it has been just over 30 days since this happened to me.

 

[Another Reader]

Looking at your numbers, I am concerned about your savings. Everyone took a hit in 2008, but most people came back from that and are in better positions. Did you sell at the bottom and put the money in cash? Although $130k is not "chump change," it does not look like you had a high savings rate when you had better paying jobs.

I do think you will get a job because of your skills and experience. It would help if it were a higher paying job, likely using your nursing background, and you could make a savings sprint to the finish line. Another $100-$150k in retirement funds would improve your situation considerably.

 

[ivinsfan]

She posted a copy of the check. Don't be so cynical .

Cynical I prefer cautious [emoji3]

 

[Doc0]

Jennifer I'm not being critical, just cold in my assessment because I perceive you at risk. The problem with spending down any retirement money early is it's hard to replace at 63. It's a blow to the ego to loose a job. Have you considered a SDSC? Very often they have per diem spots. You may not need full time, just enough to get by. Every year you put off pulling the as trigger is a year you pay yourself 8% on what you will eventually claim especially at 70 Your focus therefore might be on how to get by for a 7 year period till you can maximize your payout at 70. Lastly if you have medical skills you will get a job if you want one. At my SDSC we routinely hired part timers your age or older who wanted to supplement their income, and we were happy to have them

 

[Clone]

OK-

Had a high paying job in DC. Forced to leave. No decent opportunities that meet their standards.
Lives in a high COL area with >$1000 per month fee on an illiquid $310,000 housing asset.
Considering SS early at $1700 per month, of which >$1000 will go to housing monthly fee, no plan for HI.
Rejects concept of selling house converting equity to investment, and relocating to a low paying job with >2200 per month income, full benefits including HI, and housing expenses less than current maintenance fee.

There might be great opportunities elsewhere, but it seems that OP requires them to be in DC, because relocation is off the table. Money situation is on a path to becoming desperate.

This seems familiar.

 

[Mdlerth]

San Diego Supercomputer Center?

SDSC is a new acronym for me. What does it mean?

 

[Another Reader]

OK-

Had a high paying job in DC. Forced to leave. No decent opportunities that meet their standards.
Lives in a high COL area with >$1000 per month fee on an illiquid $310,000 housing asset.
Considering SS early at $1700 per month, of which >$1000 will go to housing monthly fee, no plan for HI.
Rejects concept of selling house converting equity to investment, and relocating to a low paying job with >2200 per month income, full benefits including HI, and housing expenses less than current maintenance fee.

There might be great opportunities elsewhere, but it seems that OP requires them to be in DC, because relocation is off the table. Money situation is on a path to becoming desperate.

This seems familiar.

The last job was not high paying. She has kept up her nursing license or certification and can get a job in a medical field. She states she can work until 70, which will allow her to maximize Social Security. If she gets a well-paying job in her field, with some frugality, she can save/invest for a better retirement cushion. She should be ok if she can do this.

If she can't do that, your suggestion would be one option.

 

[ivinsfan]

OK-

Had a high paying job in DC. Forced to leave. No decent opportunities that meet their standards.
Lives in a high COL area with >$1000 per month fee on an illiquid $310,000 housing asset.
Considering SS early at $1700 per month, of which >$1000 will go to housing monthly fee, no plan for HI.
Rejects concept of selling house converting equity to investment, and relocating to a low paying job with >2200 per month income, full benefits including HI, and housing expenses less than current maintenance fee.

There might be great opportunities elsewhere, but it seems that OP requires them to be in DC, because relocation is off the table. Money situation is on a path to becoming desperate.

This seems familiar.

This is it in a nutshell and it might seem harsh but it's true.

In fact do you not have nearly a big enough nut put away to continue indefinitely on this path. I hope you find a job to reduce your anxiety but you need to think long and hard about your possible life after retirement.Having employment will make this a little less stressful but the numbers won't change.

You have a paid off car and 500 dollar condo payment and LBYM..your money saved seems low. A surgical coordinator in a large DC hospital is going make good money and after 12.5 years of that it seems like your numbers are on the low side.

This layoff has brought some other issues to the surface but you still have time to figure things out.

 

[PoorOldCountryBoy]

My job as Administrative Assistant at a local Church was eliminated by a new Rector who decided he needed someone who was more of an accountant than an assistant. I was given two months of severance pay, two months of insurance coverage and a lovely letter of reference. On November 30, after a lovely luncheon, gifts, and brave goodbyes, I was released from my position. It was difficult to find a new job in December due to Christmas--I did of course put out my resume. I am VERY concerned. I do not want to tap my savings AND if I am not contributing to SS, I am trying to decide if I should take my benefits early. I will be 63 and a half in March. I am also concerned about health insurance--a health care co-op is what I will most likely use as COBRA will be cost prohibitive. My insurance benefits are over on January 31, 2018. I hope I am on the right track. I am a divorced woman, no children. I will not have a pension, only an IRA and 401K.

Best of luck to you and sending a prayer your way for peace in your heart. It's very sad they could not keep you on for a couple more years, I've seen it done in other churches, but enough of that. If you feel like you have been wrongly dismissed, you could lawyer up but it sounds like you are at peace with it and don't need the hassle.

You sound like you are doing very well (living inexpensively) already. Congratulations!

Thriving after getting let go late in life requires great flexibility - have you looked at non-AA support jobs in volunteer/non profits like DC Central Kitchen or other similar efforts? They aren't exactly what you were doing but you'd be practicing a few of the beatitudes at the very least. Washington has very low unemployment so you should be able to find something if you remain flexible. Also consider temp agency work somewhere in the bureaucracy. Usually jobs pop up at the beginning of the year so your timing is quite good.

Good luck to you.

 

[DCJennifer]

Looking at your numbers, I am concerned about your savings. Everyone took a hit in 2008, but most people came back from that and are in better positions. Did you sell at the bottom and put the money in cash? Although $130k is not "chump change," it does not look like you had a high savings rate when you had better paying jobs.

I do think you will get a job because of your skills and experience. It would help if it were a higher paying job, likely using your nursing background, and you could make a savings sprint to the finish line. Another $100-$150k in retirement funds would improve your situation considerably.

I did indeed save, but I had obligations to a divorce attorney--Expensive!. I am attempting to now get a job that combines my admin and medical background. I also have my Personal Concierge Business to continue building. I will apply for UI as has been suggested here as well and look into my ex-husbands retirement. My home has a lot of equity if I choose to downsize as well. I will do my best.

 

[DCJennifer]

Best of luck to you and sending a prayer your way for peace in your heart. It's very sad they could not keep you on for a couple more years, I've seen it done in other churches, but enough of that. If you feel like you have been wrongly dismissed, you could lawyer up but it sounds like you are at peace with it and don't need the hassle.

You sound like you are doing very well (living inexpensively) already. Congratulations!

Thriving after getting let go late in life requires great flexibility - have you looked at non-AA support jobs in volunteer/non profits like DC Central Kitchen or other similar efforts? They aren't exactly what you were doing but you'd be practicing a few of the beatitudes at the very least. Washington has very low unemployment so you should be able to find something if you remain flexible. Also consider temp agency work somewhere in the bureaucracy. Usually jobs pop up at the beginning of the year so your timing is quite good.

Good luck to you.

Many thanks for your encouragement. Jobs do abound but so does ageism. I had to sign a waiver that I would not sure the Church or anyone there for reasons of age. If I did not sign then there would have been no severance package. It was better to leave as I did with grace and dignity. I had done nothing wrong but they wanted a younger worker who they can pay less with a different skill set. So far they have not found that person. The one millennial they did hire as the Communications/Media Director on November 15, rarely works an eight hour day and just took two weeks off!

 

[DCJennifer]

OK-

Had a high paying job in DC. Forced to leave. No decent opportunities that meet their standards.
Lives in a high COL area with >$1000 per month fee on an illiquid $310,000 housing asset.
Considering SS early at $1700 per month, of which >$1000 will go to housing monthly fee, no plan for HI.
Rejects concept of selling house converting equity to investment, and relocating to a low paying job with >2200 per month income, full benefits including HI, and housing expenses less than current maintenance fee.

There might be great opportunities elsewhere, but it seems that OP requires them to be in DC, because relocation is off the table. Money situation is on a path to becoming desperate.

This seems familiar.

I am not rejecting anything Clone. It has only been a five weeks since I left my job. It costs money to relocate and your suggestion did not even mention where this job might be. I have repeatedly said that I would sell my apartment and convert to a studio--they are actually quite large and the co-op fees average about $500 per month. When one becomes available I may do that. There are none on the market at the moment. I have not yet decided to claim my SS benefits and would love to be able to wait until 66 or even 70 since I am in good health. I was a bit frightened by my situation and asked for those here to provide some advice and many sent in good suggestions. It was only since yesterday that I have been getting these negative comments. I have made no decisions and am looking for employment. God willing that will happen as I do have a varied and diverse background. I also owned my own successful coffee and tea business in Alexandria VA in the 90's. That was a great experience for me and I sold it at a profit. Thank you for your reply

 

[rodi]

DCJennifer - good luck on your interview later this week. Keep applying for jobs.

Assuming your nursing license is still in good standing can you pick up shifts here and there doing nursing? I thing there's a term for it - but I don't recall the term... but a friend with a nursing license does this... travelling for a few months, then picking up a contract for a month or two, rinse and repeat.

Samcat - My experience is quite different than yours in trying to negotiate rates down outside of the insurance world. I'm on a HDHP and the biggest benefit is the negotiated rates. When I considered going out of network for a surgery for my son there was NO cash discount or prepayment discount... It was prohibitively expensive. Fortunately, the surgeon in network did a great job and the negotiated rate was less than half what the out of network "cash" price was quoted. Similarly - seeing the non-negotiated rates when same son had a hospitalization the year before - eye popping. But the negotiated rates were close to 75% off.

But if it works for you. Awesome.

 

[DCJennifer]

DCJennifer - good luck on your interview later this week. Keep applying for jobs.

Assuming your nursing license is still in good standing can you pick up shifts here and there doing nursing? I thing there's a term for it - but I don't recall the term... but a friend with a nursing license does this... travelling for a few months, then picking up a contract for a month or two, rinse and repeat.

Samcat - My experience is quite different than yours in trying to negotiate rates down outside of the insurance world. I'm on a HDHP and the biggest benefit is the negotiated rates. When I considered going out of network for a surgery for my son there was NO cash discount or prepayment discount... It was prohibitively expensive. Fortunately, the surgeon in network did a great job and the negotiated rate was less than half what the out of network "cash" price was quoted. Similarly - seeing the non-negotiated rates when same son had a hospitalization the year before - eye popping. But the negotiated rates were close to 75% off.

But if it works for you. Awesome.

I have not done clinical nursing in a hospital for years. I had a back injury early in my career and switched to Office Management, Medical Software Training and Medical Administration. These have served me well. I am looking into internet work with an insurance company for pre-authorizations, etc. I am also looking into an office position with a Home Care Health company close to my home. I met the owner one month ago and sent him my resume. He responded back within a few minutes of my post. We will meet on Thursday.

 

[DCJennifer]

Best of luck to you and sending a prayer your way for peace in your heart. It's very sad they could not keep you on for a couple more years, I've seen it done in other churches, but enough of that. If you feel like you have been wrongly dismissed, you could lawyer up but it sounds like you are at peace with it and don't need the hassle.

You sound like you are doing very well (living inexpensively) already. Congratulations!

Thriving after getting let go late in life requires great flexibility - have you looked at non-AA support jobs in volunteer/non profits like DC Central Kitchen or other similar efforts? They aren't exactly what you were doing but you'd be practicing a few of the beatitudes at the very least. Washington has very low unemployment so you should be able to find something if you remain flexible. Also consider temp agency work somewhere in the bureaucracy. Usually jobs pop up at the beginning of the year so your timing is quite good.

Good luck to you.

I love helping people and a Non AA job appeals to me very much. The church where I worked had a great outreach to the homeless with a monthly soup kitchen and a twice yearly shelter. It was really very satisfying to play a small role with the Shelter committees to help out.

 

[DCJennifer]

This is it in a nutshell and it might seem harsh but it's true.

In fact do you not have nearly a big enough nut put away to continue indefinitely on this path. I hope you find a job to reduce your anxiety but you need to think long and hard about your possible life after retirement.Having employment will make this a little less stressful but the numbers won't change.

You have a paid off car and 500 dollar condo payment and LBYM..your money saved seems low. A surgical coordinator in a large DC hospital is going make good money and after 12.5 years of that it seems like your numbers are on the low side.

This layoff has brought some other issues to the surface but you still have time to figure things out.

Define High paying...the Church job was not high paying. The Medical jobs were and again I was still paying off my attorneys from my divorce --they charged $100,000! It was hard to save anything and pay them off too. I did so. My invested assets did come back from 2008 but have not greatly exceeded-(although they have somewhat) where they were when they fell. I am invested in index funds, a separate mutual fund now, and also have cash assets. I know that working until 70 is my best bet and have never doubted that. Thank you all for your replies over the past few days.

 

[Doc0]

SDSC is a new acronym for me. What does it mean?

same day surgery center

 

[joeea]

They also want to pay less...

But in this case, "less" is more than nothing, right?

If you want to work, and if you can't find anything that pays more or the same, it often makes sense to work for less.

If you don't want to work, then it doesn't matter how much they want to pay.

 

[frugalscholar]

It seems to me that you only need to get through 2 years to medicaid and 3 (depending) to social security. I think you may be entitled to part of your ex's pension (since you did not sign away rights), ACA subsidies, and perhaps medicaid.

I have learned a lot from watching the friends of my children (late 20s/30s, very insecure employment for many). Example--some of these kids work before and after care where my son is a teacher. They make $15/hr. Not bad. One 63 y.o. is divorced, lives in half her former house while her ex is in the other half. She makes 20,000/yr as an assistant teacher in a kindergarten classroom. You just need SOME income--not to replace what you lost but to avoid depleting what you have.

So, check out area schools. Why not approach the new minister and offer to work part-time till they can find a ft person. Why not put up signs in your building offering to do dogwalking, petsitting, babysitting, grocery shopping for older people who might be homebound. My mom is 87 in FL and she and her friends pay a lot for such services.

Making a couple of thousand a year may tide you over till the safety net kicks in. And don't discount ACA or medicaid. Medicaid goes by income and not by assets--at least that's what I think.

 

[ivinsfan]

Define High paying...the Church job was not high paying. The Medical jobs were and again I was still paying off my attorneys from my divorce --they charged $100,000! It was hard to save anything and pay them off too. I did so. My invested assets did come back from 2008 but have not greatly exceeded-(although they have somewhat) where they were when they fell. I am invested in index funds, a separate mutual fund now, and also have cash assets. I know that working until 70 is my best bet and have never doubted that. Thank you all for your replies over the past few days.

I'm so sorry you got caught in high expense divorce, my Mom went through a later age divorce at post 50 and it is hard financially and emotionally. Good luck with your job leads, and stay on the board after you get work, there are a lot of kind, smart people here that can give advice and a lot of the advice comes from the school of hard knocks. Even the tough love posters mean well.

 

[DCJennifer]

But in this case, "less" is more than nothing, right?

If you want to work, and if you can't find anything that pays more or the same, it often makes sense to work for less.

If you don't want to work, then it doesn't matter how much they want to pay.

agreed...If you followed the thread, the job description was changed to include a skill set that I do not have--namely an accountant--and they want an accountant. It had nothing to do with me --they sent me off with a glowing letter of reference and a luncheon with gifts. They can only afford so many employees in a church--even a wealthy church and some hard choices were made to eliminate my job. I hope you understand this. No one will work for less money in the same job if they can help it. The job was not offered to me for negotiation.

 

[DCJennifer]

It seems to me that you only need to get through 2 years to medicaid and 3 (depending) to social security. I think you may be entitled to part of your ex's pension (since you did not sign away rights), ACA subsidies, and perhaps medicaid.

I have learned a lot from watching the friends of my children (late 20s/30s, very insecure employment for many). Example--some of these kids work before and after care where my son is a teacher. They make $15/hr. Not bad. One 63 y.o. is divorced, lives in half her former house while her ex is in the other half. She makes 20,000/yr as an assistant teacher in a kindergarten classroom. You just need SOME income--not to replace what you lost but to avoid depleting what you have.

So, check out area schools. Why not approach the new minister and offer to work part-time till they can find a ft person. Why not put up signs in your building offering to do dogwalking, petsitting, babysitting, grocery shopping for older people who might be homebound. My mom is 87 in FL and she and her friends pay a lot for such services.

Making a couple of thousand a year may tide you over till the safety net kicks in. And don't discount ACA or medicaid. Medicaid goes by income and not by assets--at least that's what I think.

Originally I was hoping to take my SS and then work part time to get some cash so as not to deplete my savings--if I could do that. An early poster ran the figures for me and I think that might work. I just contacted an ACA insurance broker and they said all they have is an Aetna insurance policy for 733.00 per month! That is insane! I will go the Shared Christian ministries route for the time I have no insurance. If I get a job with insurance then I can cancel that option.

 

[Meadbh]

Jennifer, have you considered doing medical transcription? You would already have the skills required, and it’s something you could do in your own home.