45 is career old age.

[papadad111]

New article from Australian study.

Synopsis is that the world thinks you're washed up at 45 so launch into entrepreneurial endeavors or be ready to FIRE instead. Pretty superficial/short article...

Is 45 the new old age in the workplace?

Is 45 the new old age in the workplace? - Nov. 14, 2014

 

[jon-nyc]

I wasn't willing to risk it so I ER'd at 44.

 

[travelover]

At MegaMotors they started pushing you to the door at 45ish and by 55 a large percentage took the hint and retired, including me. It was a culture thing there, may be other factors now in the wider world.

 

[truenorth418]

This is certainly consistent with my experience, though sometimes 40 was the cut off. In fact, at the last company I worked for before retiring, I noticed I was one of the oldest among the 150 people in the marketing department when I joined the company at age 36.


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[pjm-7]

Definitely can relate. It was pretty obvious by the time I was past 50 at my last employer that they really wanted the "old people" gone. I wanted to get past age 55 so that I can live off of my 401k without penalty. In the corporate exit interview I made sure that I pointed out the age issue.

 

[jon-nyc]

What I noticed on Wall Street and in Big Consulting is you either left young or made it high up the chain. There were no 'worker bee' types in their 40s.

Ok, at the banks maybe some back office specialists. And office support in both places. But of the front line professionals, you left in your 30s or became a leader. Most left.

 

[MBAustin]

Interestingly, I have three friends from very different backgrounds who have been hired by the same MegaMegaCorp in the past year - all are in their 50's.


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[growing_older]

Have seen this throughout my career in high tech. A few older engineers stay on as individual contributors, and a few move into management roles. We actively hire young engineers, but very rarely if ever hire older engineers. Layoffs periodically clean house of older engineers, carefully documented to avoid problems with the protected class of age.

After age 45 I know several engineers who did find work by personal contacts with people they knew from previous jobs, but I know quite a few that gave up and either started their own small time consulting or got into something unrelated like real estate.

 

[braumeister]

Layoffs periodically clean house of older engineers, carefully documented to avoid problems with the protected class of age.

I saw this a lot too, and not just engineers. Whenever the budget dictated, a department would lay off most of the older (i.e., higher paid) folks, with a sprinkling of younger ones to avoid an age-related lawsuit.

 

[robnplunder]

I've heard it is worse in China, and other East Asian countries. Forced retirement is common. Peer pressure to either move up or quit as one ages is prevalent.

 

[CoolChange]

I naively thought this was only a real issue with high tech industries in the US. Sad to hear that it seems so prevalent in other sectors as well.

Hopefully I will be ER'd at some point next year and no longer worrying about this. However, it does see to lend a note of finality to my ER since I will be too old to go back. A bit sad, really.

 

[FANOFJESUS]

I have worked for companies that 45 was old.

 

[OAG]

I agree so I RE at 39 (35 years ago)!

 

[Samething]

I have a physically and mentally demanding middle management job at a megacorp. Most people in my position don't last past their mid 50's. However megacorp does not want us to retire. They can't find enough people to put up with the demands of the job AND perform at a high level. So at 54 will I be forced out no. Am I burnt out yes. Thank goodness I planed ahead and will be ok when I retire.

 

[flyingaway]

I worked crazily to reach the top of my academic career just before 45. Since then I have been letting things go smoothly, partly because the leadership was changed. I now consider that my work is normal, in par with my colleagues.

 

[EastWest Gal]

In medicine that is not true at all. Most of us in our group are over 40, and anyone under 35 is too inexperienced from what I have seen. Many docs keep practicing far too long though. My group is begging me to stay on as an independent contractor and will keep covering my malpractice. But as an IC I can say "no" 365 days per year if I want.

 

[nash031]

I wonder about this as it pertains to my career and/or FIRE aspirations. I'll retire from the Navy around age 42. While many friends have gone on to other careers after retirement, none have been particularly successful. That could be because they've mailed it in and are just collecting paychecks until they have enough saved to live on their pension and savings, or it could be that they just don't have a particular skill that lends itself to doing well in another career. I'm not sure.

That said, if I have enough saved and my pension comes through, I may not find out which it is in my particular case. If I have to, I hope that my youthful (and good!) looks help prevent that "old age" label.

 

[Jay_Gatsby]

I've seen all ages in my legal career, but like many others here, with a few exceptions (subject-matter experts) you have to move up or move out. This is why you must always strive to be current, take on projects, etc... but naturally keep in mind that whatever you do, it must advance your career. Altruism (sometimes masquerading as being a "team player") simply means you're doing someone else's job for no additional money.

 

[treeofpain]

In my current career, I am considered old, and I'm only 50. Currently in a "transition plan" - my job is only guaranteed until July 1, 2015. I am not interested in retiring yet, so it's on to the next chapter.

 

[razztazz]

Wouldn't it be easier to just buy a handful of laundromats and live off of that rather than try to work for somebody else for a living? First, "They" insist that you get a job but do not require that any jobs actually have be available. Then, they scrupulously protect their ability to let anybody go for any reason, but workers have no or only perfunctory "on paper" protections too labyrinthian for most people to actuate. Work? Let somebody else do it.

 

[pullmyfinger]

In my field, nursing, I see the opposite. Because in large organizations RNs are usually represented by unions, seniority is everything. In my opinion many RNs practice way too long because they cannot afford to retire. While some are highly competent and knowledgeable, I've worked with other nurses who are 65+ and borderline impaired. It is really discouraging.

I hung it up recently at 45. I was at least 15 years younger than all the other RNs in my immediate department.

 

[ERhoosier]

In medicine that is not true at all. Most of us in our group are over 40, and anyone under 35 is too inexperienced from what I have seen. Many docs keep practicing far too long though. My group is begging me to stay on as an independent contractor and will keep covering my malpractice. But as an IC I can say "no" 365 days per year if I want.

Wow. Totally opposite story than I heard from one of my doc buddies in his 60's. When hospital system took over the large practice they removed everyone over 40-45 from any position of authority or influence. Patient outcomes took a backseat to the bureaucratic purge. Older docs started getting dumped on, inc having long-standing vacation plans cancelled for no reason. Some even talked to an experienced lawyer about age-discrimination lawsuit. Told that was rarely successful, and that any unlikely win would only come after 5-10+yrs of legal fight. So the ones who could either retired early or left, with a few gritting their teeth to finish out their last few years of medical practice in professional misery. Interestingly, I've heard other similar, tho less dramatic, stories from my own doc (in his 50's, BTW). Seems age discrimination in medicine is becoming an increasingly common 'reward' for 3-4 decades of tireless service to your fellow man......And IMHO not a very smart way of dealing with what most pundits feel is an increasing doctor shortage.

 

[Fermion]

Strange. I know quite a few software engineers who are in their mid 50s and very employable (one recently switched from Microsoft to Amazon).


Perhaps you have to also be good at your job if you are older?

 

[friar1610]

I wonder about this as it pertains to my career and/or FIRE aspirations. I'll retire from the Navy around age 42. While many friends have gone on to other careers after retirement, none have been particularly successful. That could be because they've mailed it in and are just collecting paychecks until they have enough saved to live on their pension and savings, or it could be that they just don't have a particular skill that lends itself to doing well in another career. I'm not sure.

That said, if I have enough saved and my pension comes through, I may not find out which it is in my particular case. If I have to, I hope that my youthful (and good!) looks help prevent that "old age" label.

Depending on what your specialty is in the Navy, you might be very attractive to contractors who do work for the Navy in spite of what will be your "advanced" age. I retired from the Navy at age 51 and found that to be the case. The contractors can't get the kind of expertise you have in a functional area from a 25-30 old civilian, no matter how bright they may be.

That said, I personally found working for defense contractors to be fairly unpleasant although many of my friends had opposite reactions. I gutted it out for about 6 years and saved everything I could before retiring. If I could do it again, I would try harder to find something outside the defense contractor area, realizing that the salary would likely not be nearly as high.

 

[growing_older]

Perhaps you have to also be good at your job if you are older?

Yes, I also know software engineers who work as individual contributors as engineers in their 50's (and older). But as a general rule that is unusual. Your comment implying that those engineers who have difficulty finding work in their 50's may just not be good at their jobs is inaccurate.