https://www.bloomberg.com/features/2017-new-unemployment/

At 55, a ‘Rainy Day’ Turns Into a Year
By Jeanna Smialek

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“It’s very discriminatory, if you ask me,” Schlager said, explaining that interviewers avoid asking his age or mentioning it, because such discrimination is illegal. He has nothing on his resume that marks his age. “It’s a vicious game, and they do it legally, but there’s that undertow.”

Schlager was making $53 an hour working 35 to 40 hours a week in his last position, but he’s applying to lower-skill, lower-pay positions in logistics as he broadens his job search. There’s a limit as to how far down the ladder he’ll drop, though, because he wants to make sure that he has employer-provided health-care coverage.

Not finding employment isn’t an option. While he has relatively low living expenses, Schlager is dipping into his 401(k), so he’ll need to replace what he’s withdrawn. And, beyond financial motivation, he wants a job for its own sake.

“It just kills me to sit here, and not work, and have the abilities that I do,” he said. “I call it a rainy day that turned into a rainy month that turned into a rainy year.”

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I have been saying for a long time that there is “age discrimination” out there.

Once you turn 50!!!, you must plan that, if you lose “your job”, then you may never NEVER “work” again.

In self-defense, you must have your Plan B, C, and D ready.

Success for the younger generation is: (1) ruthless financial discipline — no bad debt; (2) a life long interest in learning — education — a degree — they can’t take it away from you; (3) a NON-OFFSHORABLE white collar job in order to save big bux; (4) a blue collar skill for hard times — never saw a poor plumber; (5) one or more internet based businesses — your store is always open; (6) a free time hobby that generates income; and (7) a large will-maintained network of people who can “help” you.

Success for the “older” generation is somewhat similar: (1) financial house in order; (2) develop “streams of income” — can’t depend on “one job”; (3) a blue collar skill — plumbers are ALWAYS in demand; (4) an internet business; (5) An income generating hobby; (6) a network of people; AND (7) most importantly a hunter gather mentality. While you may not be one paycheck from financial disaster, you should be always looking for “opportunities”. They may not seem to be “paying ones”, but you might have a pleasant surprise.

Argh!

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