Guest Author - Sharlene Thomas

Getting a pink slip is never easy but it is even more frightening when you are over the age of 50. Gone are the days when employees could count on any one corporation being there for them at retirement time.

Those who chose to remain with the same employer building a retirement fund face even more trauma when told their services are no longer needed, sometimes, only months before their retirement date. All of a sudden, you are told that you aren’t “following company policy,” or the company has been taken over by another corporation and they want to bring in their own people. The reasons are endless; the result is the same – you are out of work and the "office family" that has been a stalwart in your life for so long is no longer available, and, you’re over fifty.

Although it is supposed to be illegal today to fire employees nearing retirement age in an attempt to avoid paying out earned retirement, it would be sheer stupidity to say that it doesn't happen. And, you need to be prepared for what you would do, if you were told to go.

For Many, Leaving Co-Workers Can Be as Traumatic as Divorce

Unless there has been little interaction with coworkers outside of the work environment, losing your job can be as traumatic as a divorce for some individuals. A relationship that has been built over a lifetime of shared experiences and family anecdotes is not so easily dismissed.

The tragedy is that those who have spent so much of their working lives together may find themselves forced to take jobs out of the normal sphere of their now ex-coworkers, making it very difficult to maintain the friendship. Sadder still are those having to pull up stakes and move out-of-state to live with relatives, whilst they get back on their feet.

Starting over is not only frightening, it can be very demeaning, when previous work experience is disallowed because you have come from a different work environment and, “everybody starts at this level, here.” Not only are you dealing with loss of self-esteem but, in many circumstances, a serious loss in income.

Baby-Boomers Reaching Retirement Age in Another Decade

With more and more Americans living up to 20 and 30 years beyond current retirement age, we are within less than a decade before the baby-boomers flood the land. That means a whopping 33% of the workforce will find themselves wondering what to do with the rest of their lives.

Many will find that working was not only important to their financial health but it played a major role in their psychological health, as well. They’ll be looking for second careers either in their field or taking the opportunity to give an old avocation a try.

It’s never too soon to:
• review your skills and take some catch-up courses
• polish up your resume to give it a fresh look
• check into those businesses hiring seniors with solid experience
• think about how you can use the internet for a new career

Whatever you decide, begin making plans for the type of career you think you would want going into your sixties and seventies. You have at least another twenty productive years ahead of you. If you want to travel, consider part-time work, which offers flexibility, some extra income and a sense of still belonging to the larger world of business.