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Over 50 and long term unemployed – What do you do?

by 11 Comments

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Long-Term-UnemployedOver 50 and Long Term Unemployed

What do you do if you are over 50 and long term unemployed?

At six months the moments of self doubt start to creep in.

Will I ever work again?

When will I feel useful again?

When will this end?

Baby Boomers in general, but particularly men get their self identifies from their work. I remember when I worked for IBM and many would identify themselves as IBMers. It was who they were. In 1993, when many of my older colleagues were told to go retire, it killed them. They lost their identity.

What I learned from my experience at IBM was I am not what I do. My job does not define me as a person.

Is this you?

(More: Baby Boomers and the Long Term Unemployed)

Are you looking for a full time job?

My first question to you is why?

If you have been unemployed for over six months you should start considering working for yourself. If you are over 60 this is a must.

Am I saying there is age discrimination?

YES! Get over it!

We are rapidly moving to a contractor based economy. Check on the article from Business Insider 40 Percent Of Americans Will Be Freelancers By 2020.

This change will no be easy!

I know, I know you have to have full time employment for the benefits. That is a myth.
My wife and I are both in our late 50’s, and we pay about $700 per month for high deductible health insurance. My wife’s coverage comes the State of Texas High Risk Pool. A state run health plan where she cannot be rejected.
I know, I know you need group coverage. Group coverage is the most expensive kind of health insurance and if you received a W2 from last year, you will see what you employer spent. It is a lot!
What we save in one year from having to pay COBRA covers the deductible. We just have to stay out of the hospital for a year.
Start thinking seriously about working for yourself.
Keep looking for a job but consider contracting, temp work and preparing to start a business.

How are you going to find your next gig?

I sure hope you are not looking on job boards and submitting your resume.

I am working with two clients right now. Both are product managers for large high tech employers.

  • Client A is in his early 40’s and started two years ago greatly expanding his network through his professional affiliations, his religious affiliations and work. He currently has well over 1,000 LinkedIn connections.
  • Client B is in his late 50’s and when I started working with him late last year he had about 200 connections on LinkedIn. He has a very small network of people he can turn to for help. Pretty typical of most baby boomers.

Both clients have MBAs and are well respected.

Client A put out the word quietly he was looking. He is being contacted every week by recruiters. Admittedly, most of these are for jobs out of town or in an industry he does not care for. He is being contacted and had an interview this last week.

Client B is periodically being contacted, but it is pretty quiet.

The difference is client A started two years ago. Building a network takes time.

We are in a referral economy. Your network will get you your next job, contract, customer,…….

This is an area where many baby boomers struggle. As a general rule, we are pretty private. This whole thing about putting ourselves out there on social media is pretty ……. uncomfortable.

I know, I know you think this social media business will pass. It is not going away!

What are you doing about it?

My next post will be on what else you should be doing when you are long term unemployed.

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Comments

  1. “Baby Boomers in general, but particularly men get their self identifies from their work. ” Why did you feel the need to include this unnecessary statement? Very sexist, outdated and not what so many of us boomer women who have had a professional career for 35 years needs to hear. Probably why so few understand me these days. My 25 year marriage ended a few months before losing my position in October 2008 (a week after the crash), lost most of my savings and retirement to attorneys and trying to survive. Marital assets evaporated and yet I moved on from the divorce and loss of my life savings. My extremely high energy level was always an asset. Losing my position and not being able to find anything has been devastating and crippling. I am however now extremely grateful for everything, an expert on survival jobs, downsizing,and surviving in general. Please open your mind. peace.

    Reply

      • I agree with what you said. I’m a guy with a lot of women friends. Being in your/our position is equal. Equality raises it’s head in all ways.

        Reply

        • shut the f*** up you micro managing whiners. especially emasculated men stepping in to support women in their respective whining. Life is war. work is life. If someone dosent like or want you because of your gender, age, race , religion…DEAL WITH IT. No amount of squeaky wheel get the grease legislation will change REALITY. A persons worth is ONLY to themselves. Deal with you situation, and react accordingly with your personal hires. F*** all your talentless whiners hiding behind this faux word that has been craftily injected into present day conversations….equality. NO ONE is EQUAL, and subsequently DOES NOT deserve consideration above and beyond their perceived worth PERIOD. So…go out there any try and get a job…and truly be extraordinary…OR… be unemployed. P E R I O D.

          Reply

      • That’s not much of an apology. ( IF I offended you)
        Not only the If but also you offended most I’m sure.

        Reply

  3. I was unfairly sacked a few weeks ago . The employment market here looks dismal, my reputation is also damaged by what they said. It looks like my only options are self employment.

    Reply

  5. Laura,

    Your reading comprehension needs improvement.

    Marc wrote, “Baby Boomers in general, BUT PARTICULARLY MEN [emphasis added] get their self identifies from their work.

    I am a male who has derived a lot of my identity from my work in which I have been engaged for over 30 years.. Since I am writing this in the 21st Century, my self-perception is far from “outdated”, and I am certain that millions of fellow males share my experience. Of course since people, including women, are individuals, everyone’s self-perception and self-esteem are influenced differently from other people by many factors, including one’s efficacy in any given long-term occupation. The relationship of one’s work to one’s identity is not “sexist”, but a universal human psychological experience that both men and women can struggle with to one degree or another, when they lose a job, depending upon their own personal psychology and self-esteem.

    While many may be regard it as “appropriate” in these mindlessly politically-correct times to proffer apologies when none is objectively necessary, it is a mistake to pander to that ridiculous expectation because that simply encourages it to continue. I hope that Marc will be more judicious and selective about proffering his apologies in the future.

    I get the impression from your comment that you are a pretty difficult and spiteful person, quick to take offense, and tenacious about holding a grudge; therefore, your being divorced does not surprise me.

    Now that you are single again–as you likely deserve to be–you can build yourself a safe room in which to escape all that so easily offends your sensibilities, and equip it with blankets, coloring books and crayons, and videos of frolicking puppies and rainbow-farting unicorns.

    Reply

    • Sorry if I upset you. I am married for longer than you can imagine. This post was written almost 3 years ago when long term unemployment was still quite high and especially high for baby boomers.

      Reply

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