Make a Plan To Earn Enough, Long Enough
Enough to Pay the Bills and to Have Enough for Retirement
- Your best option is usually to stay with your current employer, if you have one.
- But most private-sector workers who work to their mid-to-late 60s will change employers after age 50.
- Whether you stay or change employers, key adjustments could significantly improve your prospects.
Less than half of men in the private sector, age 58-62, work full-time for their age-50 employer
Data from U.S. Bureau of Labor Statistics Current Population Survey.
How Employers View Older Workers
What They Value & What They Don’t
Yes, there is discrimination. Employers generally see older workers as costly, inflexible, and technically out-of-date – but also diligent and reliable.
|What Employers Rate High||What Employers Rate Low|
|Doing quality work||Performing new tasks|
|Ability to get along with co-workers||Getting training|
|Loyalty and dedication||Trying new approaches|
|Individual initiative / Someone you can count on in a crisis||Using new technologies|
Could You Accept Less Status?
Don’t Let Foolish Pride Get in the Way
Workers over 50 who change jobs typically get jobs with lower pay and lower status. Could you, if such a job were your best opportunity? (If you do, you might notice other benefits once you adjust.)
The Shock of a Younger Boss
It’s Also Hard for Your Boss
90% of employers fear conflicts when hiring older workers
If your boss, or a potential boss, is younger, chances are you both could be uncomfortable. But if this is your best opportunity, you must do what you can to make the relationship work.
Find the Right Match
With Networking & the Internet
Most older workers today have done many things and have many different skills. So take stock of what you can do – and where what you can do has the most value.
Networking is usually the best way to find a good match, and most older workers now have many potential contacts. The Internet is also a powerful new matching tool – type “job search” in a search engine to find sites that can help. And use social networking to rapidly expand your network.
And don’t forget to check if your state or local government provides job-search assistance. Minnesota, for example, provides a comprehensive set of resources for job seekers at iseek.org.