Pushed Out of the Workforce. Are You Ready?

corporate revolving door

We all tend to think that retirement won’t come until we’re in our sixties or even seventies. We think we have plenty of time to save and prepare for that next phase of our lives. But what happens if it comes sooner than you think? In some industries/occupations, it’s not uncommon for people to be subtly pushed out of the workforce in their fifties (or even younger).

Younger workers or contract workers cost less so some employers encourage older workers to take early retirement, or simply lay everyone off and replace them with younger or contract workers. If you’re laid off from a job and you’re in your fifties, it can be difficult to find a new job because empl

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3 Responses to Pushed Out of the Workforce. Are You Ready?

  1. This is very common. I see this in high tech all the time as younger, less expensive, more productive workers tend to lap their older counterparts. Even though I’m in my 30′s and planning to work into my 60′s, I’m preparing as though I may be done in my 40′s or 50′s. This is good advice for doing so.

    One other thing to consider is that – with all the new “productivity” tools – and mobility making it so that many of us never *stop* working, we may not make it until we are in our 60′s in terms of mental health. The constant work will probably make us all crazy in the head long before then.

  2. sunshineastcoast says:

    Not only is our age, and in some cases health against the older worker, but so is the attitude that one can’t learn new things. I am one of those older workers, and I am in an industry that is going through major changes and do wonder what is next. I don’t live extravagantly, I have a small retirement, equity in my house, but like everyone else I live a bit in fear of what is next.

  3. Gail says:

    Sometimes your health pushes you out far faster than a human resources manager can and with it usually brings in extra expenses. I agree that we need to be following a plan and developing sources of income if we can although some disabled people have great difficulty finding a way to make money.

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