I was reading in the paper today that the stress of job loss and financial turmoil is taking its toll on people. More and more individuals are seeking support from agencies or private therapists to help them cope during these difficult and challenges times. As bad as this is for younger adults, it is equally as difficult for the baby boomers who will be retiring soon. What if you lose your job before then? What if your company is down-sizing because of the economy and your specific job causes you to be laid off? What do you do?
Recognize that you are experiencing the loss of a way of life and the security it provided. You may feel numb and be in disbelief, but it is important to feel your feelings, as with any loss, because it is all part of the healing process. Feelings of frustration and helplessness are common, since the situation was not initiated by you.
Here are some things you can do to cope better and make the transition easier:
1. Realize that to return to the quality of life you had before, you have to make changes. This means you must focus on the future and make a personal business plan you can follow.
2. Identify your skills, interests and abilities. Perhaps this will enable you to find a new career or direction that will be even more fulfilling than the one you had before. Look into distance learning programs to hone your skills or to learn some new ones. Don’t let procrastination sabotage your incentive to find or create new work.
3. Develop your support system or networking system, letting everyone know that you are looking for a job.
4. Talk things over with someone you trust. This helps you realize the reality of the situation, and offers input into things you can do or things you are good at. Join a support group to help you manage your feelings so they don’t control you. Understand what you are going through so you can move through the grieving process easier.
Coping with job loss is devastating at any age, but even more so when you are older. It is especially compounded when you are close to retirement, since it is a forced departure. You have a choice, however. As with any loss, you can stay fixated at the same point or choose to move on.
Learn to take ultra care of yourself during this time and you’ll be renewed with hope and energy. What seems to be a terrible setback, financially and emotionally, can actually be a catalyst for a hopeful new future and an exciting, new beginning.
on May 10th, 2009 at 7:22 am
My husband is 56 and just lost his job. His salary is double what mine is and because of health issues, our nest age has been depleted. I’m afraid we’re going to lose every thing. He’s actively looking and has been networking, but things don’t look great out there.
on May 10th, 2009 at 8:02 am
Hi Kathy,
I feel for your situation. Be hopeful that something great is out there for you and your husband. While there is
no quick fix, this “setback” may open you both up to bigger and better opportunities. Hang in there and
remember to step outside your “comfort zone” when looking for new ventures. You never know what will show up.
Good Luck!
Amy Sherman
on Jan 20th, 2010 at 7:55 pm
I have lost my job with a major medical facility, they gave me 90 days, are black-balling my applications for positions with the company, although they sent an email to a local housing facility that they could not recommend me for the apartment due to the option of my getting another position with them. So, in 4 weeks I will be without a job, no place to live, and no money coming in. I have no savings due to a bad choice of men to marry a couple of years ago….he and his girlfriend took it all. I don’t see many alternatives, I am about to loose my job, my home, my dogs, my belongings due to the need to sell what I can to pay for gas to search for a job, I have already lost respect and friends. There’s more but it just doesn’t seem to matter anymore. Any suggestions?
on Jan 21st, 2010 at 1:07 pm
Deb, you always have choices you can make. While things may look bleak now, something could turn up tomorrow. The more you dwell on what you don’t have and how bad things are, the more you will continue experiencing that. Change your perspective and reinvent yourself. Talk to people about what you are looking for because someone may have a lead for you. There are opportunities all around you, if you just look. Therefore, while you’re waiting for something better, apply for unemployment (when you’re out of work), speak to realtors who can find you a place to live, make some cold calls to other companies in your field and worst case scenario, become a cashier temporarily (for example). The changes you experience now could wind up being the best thing that could have happened because you may find yourself looking in a whole new direction. Good luck and keep us posted.
Amy Sherman
on Mar 24th, 2010 at 2:18 pm
I lost my real job as an Analyst with Kraft Canada in 2003. Since then I was employed on contracts at various locations as a Business Analyst, Database Analyst and Supply Chain Data Analyst. In February 2009, my contract ended and I am now a shipper earning a miserable $10 per hour for 5 hours per day for 5 days a week. And this job was given to me as a favor. Since 2005, I have been getting regular interviews of about once a month with corporations wanting or needed an Analyst on short contracts. And slowly, these dwindled away because of the recession. I am now 59 years old. The fact of the matter is that at each interview, I was politely told that I was overqualified for the position and that I would get bored.. or thee are looking for a young University grad with an abundance of energy to prove his theories and willing to start off with a minimal wage. Yes, like all the baby boomers I share the pain and disgust. What is worst is that now, the employers are putting in place screening test on MS Office. I am now planning on changing careers and pursue a field in Social Services. I figure someone will appreciate my life experiences.
on Mar 24th, 2010 at 7:36 pm
Hi James,
Sometimes when bad things happen, it opens the door to something better. It seems to be that’s what’s happening in your case. A career in Social Services in wonderful. Good luck to you.
Amy Sherman
on Nov 25th, 2010 at 10:38 pm
Tell James Mendez that “overqualified” is code for “we don’t want to pay your health insurance”. Look at the unemployment numbers - they tell the story. Workers over 55 have twice the unemployment levels of younger workers who have less experience and often inferior work ethics. I am 58, and have been unemployed for 5 months. My COBRA for health insurance is $496/mo. Why would someone hire me for even a minimum wage job when my health insurance would cost them 50% over the salary they are paying me???
on Nov 15th, 2011 at 2:56 pm
This text is worth everyone’s attention. Where can I find out more?
on Nov 15th, 2011 at 3:27 pm
Hi James,
It may be helpful to get some coaching to put you in the right direction and framework. Coaching would empower you to expand your awareness of opportunities and motivate you to accomplish different types of things. Let me know if I can help.
Amy
amybethsherman@gmail.com