A blockbuster report on alleged age discrimination at IBM shows the harrowing circumstances faced by people in their mid-50s as they were suddenly let go. One of the employees Henry is quoted as saying:
"If you’re over 55, forget about preparing for retirement," he said in an interview. "You have to prepare for losing your job and burning through every cent you’ve saved just to get to retirement."
This is, of course, relevant in this sub where lots of us are planning for our financial future. A few tips:
- extend rainy day funds to be substantially more than 6 months. Plan for some systemic "shocks" as you get older - health issues, market declines, job loss, etc. Sometimes, many of these life events occur concurrently. You have to withstand the blows.
- keep networking. "don't dig your well when you're thirsty". Many start networking when they lose their job. But, networking is more than just tapping your network to get a job/contact. You should also be helping others who need your help. Someone calls you for help, don't hang up, or discard their email. See what you can do to help. It will pay off. There's a brilliant book by Prof. Adam Grant "Give and Take" - read it.
Good luck.
Submitted March 22, 2018 at 06:10PM by arnexa http://ift.tt/2puA8A4
