My position was eliminated so I was displaced at 64. What do I do now?
I have 30 years in a career within a difficult business and I will take a chance and say what the field was and hope I will still get some help, support, positive feedback. I was in insurance claims.
Last job was as a supervisor/manager for a TPA for a very large retail company. For the last 5 or 6 years this company has undergone a huge change, restructuring almost every time you turn around. Work environment was toxic.
I was working away one Friday afternoon when my boss tapped me on my shoulder and said there was something he needed to speak with me about. I locked my computer thinking I would be back however when we began walking to the front of the building I started to think this is it.
His office was at the back of the building. I knew I had been had when he opened the door to the conference room and there was another manager sitting there as the witness. We sat down and the words that came out of my manager's mouth were "we announced a re-org yesterday and you are out."
I asked if I was being displaced and that is when he said yes. He slid a paper across the table to me to sign. Said I could not go back to my desk.
The manager that was in the room as a witness went to my desk to get things I needed. I walked out of the building I had been going to for 11 1/2 years. I had worked for this same company years back and had a total of 18 of my years spent basically working to defend this very large company from their own mistakes.
So now what?????
I had a plan in place. Needed to work at least 3 more years. Didn't begin saving and investing for this until I was in my mid 40s. Lost half of my investments twice. Still owe on my house and a car.
My plan would and still could work on paying all debt off before going to full retirement. However it has been since mid July since that Friday and I can only achieve a part time job so far.
The only full time jobs I have been offered have been very low paying. I only apply for jobs that I know I can do and am very qualified.
I do believe ageism exists but I am ignoring this. I will be turning 65 in a couple of months and have signed up for Medicare which I was going to have to do anyway. I looked very hard at filing for Social Security now but if I wait just one more year due to what my wife will be getting through the spousal benefit we really need to wait one more year.
To be honest I am struggling. All my work is gone. It was a difficult type of work but I found things about it that I felt good about.
One of the main points was it would help my wife and I achieve a good retirement. Now that is gone. I don't want to go into retirement in debt and that is what I might have to do. I am looking for ideas on how to remedy all this.
I feel I have been forced into retirement but I am fighting it. I want to and need to keep working and making decent money. Do I go into business for myself? If yes I need help and how do I know how to charge, etc.. No guarantee that will work. I do have some assets but this changes everything.
Good grief, this is crazy!!!!