Retirement — What!
I didn’t expect to be pushed into it by age 45
Phew! I think I missed the day when the world of employment changed and I found myself totally unprepared for the new paradigm.
I am of the ‘company loyalty’ generation, I was loyal and I did get some level of loyalty in return.
Well, until I turned 45 years old.
It turned out I was now too expensive and was replaced by a couple of interns at half my salary. What about those incredibly important projects that required my expertise? Well, it seemed the company figured it didn’t need my level of experience or they dumped the project.
The good news — I managed to survive and thrive by doing these four things…
Lowered my expectations
It took me about a year to realize that I was unemployable in the area of my previous expertise and salary. I did the following as advised by recruitment experts:
- upgraded and targeted my resume
- utilized my network
- applied for over 120 positions
- bought a new suit and changed my hairstyle
Net result=no job.
However, it did teach me to lower my expectations regarding my salary and position going forward.
Stopped wasting my time trying to fit back in
When you’re out — you’re out, that’s the way it works. Trying to get back into a similar company or offering your transferable skills in another industry didn’t work for me.
I wasted valuable time believing in the theory of ‘transferable skills’ and knocking on doors that wouldn’t take a chance on someone who’d been made redundant. Age was also a factor working against me.
Go figure at forty-five!
Net result=no job.
Use the worst-case scenario for future planning
When making a plan, I found it very helpful to do what I call “worst-case scenario” planning. It gives you a clear picture of the minimum requirements of income, and expenditures necessary to survive.
If you were on a $120,000 a year package you need to know how to stay afloat on say $49,000 a year; adjustments to your lifestyle will be necessary. Knowing the minimum requirements gives you the confidence to take the next step, to stay in the game, even if it’s a very different game.
Use this opportunity to change your life
So, after a year of doing the ‘right things,’ I said NO!
Using my minimum requirements scenario; I started my own business. Slowly I built up a steady supply of clients, that were generally loyal in their business transactions. Over the next ten years (until I was able to officially retire) this little business met all the needs of my family and adjusted lifestyle.
When you’re out you’re out!
So lower your expectations and work out the minimum requirements to maintain your family and lifestyle.
Then use it as an opportunity to create a new path for your life.
Thanks for reading.
