Comments on: Mail Bag Question – 57 Years Old and Unemployed. Now What? http://wealthpilgrim.com/mail-bag-question-57-years-old-unemployed-now-what/ WealthPilgrim.com -No Money Worries. No Matter What. Wed, 23 May 2012 02:40:46 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: Cindy K http://wealthpilgrim.com/mail-bag-question-57-years-old-unemployed-now-what/#comment-2766 Cindy K Tue, 01 Dec 2009 01:04:50 +0000 http://126133678#comment-2766 Perhaps the wife could do direct sales with a reputable direct sales company. There are several. If she is into natural products that give unusually good results, Perhaps the wife could do direct sales with a reputable direct sales company. There are several. If she is into natural products that give unusually good results,

]]> By: Neal http://wealthpilgrim.com/mail-bag-question-57-years-old-unemployed-now-what/#comment-1971 Neal Mon, 14 Sep 2009 15:10:35 +0000 http://126133678#comment-1971 Lamborghini I'd start with: http://outofyourrut.com/blog/2009/09/14/you-have-the-ability-and-talent-to-make-your-dreams-come-true/ This site is perfect for you. Lamborghini

I’d start with:

http://outofyourrut.com/blog/2009/09/14/you-have-the-ability-and-talent-to-make-your-dreams-come-true/

This site is perfect for you.

]]> By: Neal http://wealthpilgrim.com/mail-bag-question-57-years-old-unemployed-now-what/#comment-892 Neal Fri, 12 Jun 2009 04:24:29 +0000 http://126133678#comment-892 Thanks for those kind words! Thanks for those kind words!

]]> By: Christine http://wealthpilgrim.com/mail-bag-question-57-years-old-unemployed-now-what/#comment-716 Christine Sun, 24 May 2009 16:06:57 +0000 http://126133678#comment-716 It's always possible to borrow for college, but not at all possible for retirement. Plus, colleges offer grants, scholarships, fellowships, student jobs and work study to supplement/replace this need. Your daughter's college needs have to come second to your retirement needs. I recommend your wife download ms office (free for 60 days) and get an exercise book from the library to study and work her way through it. She can do the same with ms access. Target and Best Buy sell typing tutorial programs for $10 each. Spend a few minutes a day working on speed and accuracy. Look at the United Way volunteer requests online and pick an office job. Stay 6 months to provide a reference, then start looking for a job. Don't forget the temp agencies, something could turn into a permanent job. They do thoroughly test your computer/typing skills so be prepared. If she is younger than you, she can probably establish enough social security credits to earn retirement benefits by age 67. Try sticking with this job, get cross trained and promoted with raises. Check out the local govt jobs for a very valuable pension, these are usually vested after 10 years. As for you, start working on the resume now. See if there are any networking organizations in your field online (meetup.com sometimes). When the inevitable happens, spend that severance slowly and file for unemployment immediately. It has been extended to 12 months so this will be helpful. Do not even apply for a survival job unless there just aren't any jobs in your area or no one else is calling. Sometimes if you try to run the unemployment to the end, you are caught without a safety net. In the mean time, downsize to a small house, 2 used cars, no vacation home, boat, rv, etc. "The Complete Tightwad Gazette" is very helpful in changing your lifestyle. It's a must read for both of you. Stretcher.com, frugalliving.about.com, frugalvillage.com are all very inspiring. Get caught up in the frugal lifestyle, it's creative and challenging. No more eating out, movies, happy hour, manicures, pedicures, spa treatments, massages, golfing, sporting events, cultural events. Take all the money and start an emergency fund. Once you are both working, read "Total Money Makeover" for a roadmap to a debt free life. We can both only hope that social security is saveable. It's supposed to go belly up by 2016. With a paid off house, car, no credit cards, etc, you both could have a very nice life on social security benefits alone after the age of 67 with medicare and a supplement policy. If you are living in a high cost of living area, now is a good time to consider a change. It’s always possible to borrow for college, but not at all possible for retirement. Plus, colleges offer grants, scholarships, fellowships, student jobs and work study to supplement/replace this need. Your daughter’s college needs have to come second to your retirement needs.

I recommend your wife download ms office (free for 60 days) and get an exercise book from the library to study and work her way through it. She can do the same with ms access. Target and Best Buy sell typing tutorial programs for $10 each. Spend a few minutes a day working on speed and accuracy. Look at the United Way volunteer requests online and pick an office job. Stay 6 months to provide a reference, then start looking for a job. Don’t forget the temp agencies, something could turn into a permanent job. They do thoroughly test your computer/typing skills so be prepared. If she is younger than you, she can probably establish enough social security credits to earn retirement benefits by age 67. Try sticking with this job, get cross trained and promoted with raises. Check out the local govt jobs for a very valuable pension, these are usually vested after 10 years.

As for you, start working on the resume now. See if there are any networking organizations in your field online (meetup.com sometimes). When the inevitable happens, spend that severance slowly and file for unemployment immediately. It has been extended to 12 months so this will be helpful. Do not even apply for a survival job unless there just aren’t any jobs in your area or no one else is calling. Sometimes if you try to run the unemployment to the end, you are caught without a safety net.

In the mean time, downsize to a small house, 2 used cars, no vacation home, boat, rv, etc. “The Complete Tightwad Gazette” is very helpful in changing your lifestyle. It’s a must read for both of you. Stretcher.com, frugalliving.about.com, frugalvillage.com are all very inspiring. Get caught up in the frugal lifestyle, it’s creative and challenging. No more eating out, movies, happy hour, manicures, pedicures, spa treatments, massages, golfing, sporting events, cultural events. Take all the money and start an emergency fund.

Once you are both working, read “Total Money Makeover” for a roadmap to a debt free life. We can both only hope that social security is saveable. It’s supposed to go belly up by 2016.

With a paid off house, car, no credit cards, etc, you both could have a very nice life on social security benefits alone after the age of 67 with medicare and a supplement policy. If you are living in a high cost of living area, now is a good time to consider a change.

]]> By: chuck wintner http://wealthpilgrim.com/mail-bag-question-57-years-old-unemployed-now-what/#comment-687 chuck wintner Wed, 20 May 2009 14:02:42 +0000 http://126133678#comment-687 My very strong advice is for everyone to stay away from Sallie Mae. I went back to school late in life, and I will never be sble to pay off this horrible loan. Credit cards are better deals than Sallie Mae. Look for the next huge financial crunch (and bailout) to come when the vast majority of people who took out these loans default on them. Sallie Mae went to bed with Freddie Mac, and as a result, there are a lot of illegitimate loans out there. Nothing wrong with community college for 2 years. Then your child transfers and goes to a "real" college for two. The diploma will only say where he graduated from. I believe whole-heartedly in WealthPilgrim's advice to work, and pay as you go. chuck wintner My very strong advice is for everyone to stay away from Sallie Mae. I went back to school late in life, and I will never be sble to pay off this horrible loan. Credit cards are better deals than Sallie Mae. Look for the next huge financial crunch (and bailout) to come when the vast majority of people who took out these loans default on them.

Sallie Mae went to bed with Freddie Mac, and as a result, there are a lot of illegitimate loans out there. Nothing wrong with community college for 2 years. Then your child transfers and goes to a “real” college for two. The diploma will only say where he graduated from. I believe whole-heartedly in WealthPilgrim’s advice to work, and pay as you go.

chuck wintner

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