older workers trapped in long term unemployment

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older workers trapped in long term unemployment

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morrisjcroy

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Since: Jan 09, 2007
Posts: 209

(Msg. 1) Posted: Tue Feb 19, 2008 5:18 pm
Post subject: older workers trapped in long term unemployment
Archived from groups: sci>research>careers (more info?)

Article on older folks being unemployed for longer periods of time.

http://www.chicagotribune.com/business/chi-mon_space_0218feb18,0,7625207.story

>> Stay informed about: older workers trapped in long term unemployment

rick3031

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Since: Dec 08, 2004
Posts: 70

(Msg. 2) Posted: Wed Feb 20, 2008 7:46 am Post subject: Re: older workers trapped in long term unemployment [Login to view extended thread Info.] Archived from groups: per prev. post (more info?)

Since this trend has been going on for nearly two decades, the message is you have to try to be "retirable" by your 50s - save a lot and live modestly. Another tack is to try and get SSDI. Its equivalent to collecting SS before age 62. Most of these are granted to people between age 50 and 62. Its hard to get unless you have abvious physical impairment. >> Stay informed about: older workers trapped in long term unemployment

morrisjcroy

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Since: Jan 09, 2007
Posts: 209

(Msg. 3) Posted: Wed Feb 20, 2008 8:11 am Post subject: Re: older workers trapped in long term unemployment [Login to view extended thread Info.] Archived from groups: per prev. post (more info?)

On Feb 20, 10:46 am, "rick++" wrote: > Since this trend has been going on for nearly two decades, the message > is > you have to try to be "retirable" by your 50s - save a lot and live > modestly. > > Another tack is to try and get SSDI. Its equivalent to collecting SS > before age 62. > Most of these are granted to people between age 50 and 62. > Its hard to get unless you have abvious physical impairment. Or live like a hermit in the middle of nowhere, with very little to no property taxes, no electricity, no running water, growing/catching your own food, etc ... like that Unabomber guy. >> Stay informed about: older workers trapped in long term unemployment

rick3031

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Since: Dec 08, 2004
Posts: 70

(Msg. 4) Posted: Wed Feb 20, 2008 11:25 am Post subject: Re: older workers trapped in long term unemployment [Login to view extended thread Info.] Archived from groups: per prev. post (more info?)

> Or live like a hermit in the middle of nowhere, with very little to no > property taxes, no electricity, no running water, growing/catching > your own food, etc ... like that Unabomber guy. Dont need too. If your income is low you can get Sectio-8 housing, Medicaid (fully paid medicare), SSI, food stamps ... Not a great life, yet not desperate. >> Stay informed about: older workers trapped in long term unemployment

Marco

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Since: Apr 30, 2007
Posts: 13

(Msg. 5) Posted: Wed Feb 20, 2008 11:54 am Post subject: Re: older workers trapped in long term unemployment [Login to view extended thread Info.] Archived from groups: per prev. post (more info?)

On Feb 20, 7:46 am, "rick++" wrote: > Since this trend has been going on for nearly two decades, the message > is > you have to try to be "retirable" by your 50s - save a lot and live > modestly. And this takes some restraint and insight, like resisting the temptation in your 30s to buy a house with a huge mortgage and having too many kids to support; such obligations come home to roost in your 50s (e.g. kids going to college, still having a big mortgage when you have no job...) Marco >> Stay informed about: older workers trapped in long term unemployment

Old Pif

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Since: Apr 18, 2007
Posts: 100

(Msg. 6) Posted: Wed Feb 20, 2008 6:45 pm Post subject: Re: older workers trapped in long term unemployment [Login to view extended thread Info.] Archived from groups: per prev. post (more info?)

On Feb 20, 2:54 pm, Marco wrote: > On Feb 20, 7:46 am, "rick++" wrote: > > > Since this trend has been going on for nearly two decades, the message > > is > > you have to try to be "retirable" by your 50s - save a lot and live > > modestly. > > And this takes some restraint and insight, like resisting the > temptation in your 30s to buy a house with a huge mortgage and having > too many kids to support; such obligations come home to roost in your > 50s (e.g. kids going to college, still having a big mortgage when you > have no job...) > > Marco One thing I don't understand. All kind of economy prophets and career advisers keep saying that people have to work more years before retirement. How they (old people) could possible archive that if they are fired in masses? >> Stay informed about: older workers trapped in long term unemployment

Russell

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Since: Apr 23, 2007
Posts: 50

(Msg. 7) Posted: Thu Feb 21, 2008 6:56 am Post subject: Re: older workers trapped in long term unemployment [Login to view extended thread Info.] Archived from groups: per prev. post (more info?)

On Feb 20, 9:45 pm, Old Pif wrote: > On Feb 20, 2:54 pm, Marco wrote: > > > On Feb 20, 7:46 am, "rick++" wrote: > > > > Since this trend has been going on for nearly two decades, the message > > > is > > > you have to try to be "retirable" by your 50s - save a lot and live > > > modestly. > > > And this takes some restraint and insight, like resisting the > > temptation in your 30s to buy a house with a huge mortgage and having > > too many kids to support; such obligations come home to roost in your > > 50s (e.g. kids going to college, still having a big mortgage when you > > have no job...) > > > Marco > > One thing I don't understand. All kind of economy prophets and career > advisers keep saying that people have to work more years before > retirement. How they (old people) could possible archive that if they > are fired in masses? Catch 22. Cheers, Russell >> Stay informed about: older workers trapped in long term unemployment

rick3031

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Since: Dec 08, 2004
Posts: 70

(Msg. 8) Posted: Thu Feb 21, 2008 7:23 am Post subject: Re: older workers trapped in long term unemployment [Login to view extended thread Info.] Archived from groups: per prev. post (more info?)

>One thing I don't understand. All kind of economy prophets and career >advisers keep saying that people have to work more years before >retirement. How they (old people) could possible archive that if they >are fired in masses? The rules changed mid-stream for boomers. Pre-boomers pretty much had lifetime jobs with benefits. Post-boomers are drilled to save and invest from the beginning. Boomers straddle the two eras and cobble something together. >> Stay informed about: older workers trapped in long term unemployment

Beladi Nasrallah

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Since: Dec 10, 2007
Posts: 67

(Msg. 9) Posted: Fri Feb 22, 2008 3:08 am Post subject: Re: older workers trapped in long term unemployment [Login to view extended thread Info.] Archived from groups: per prev. post (more info?)

On Feb 20, 11:18 am, wrote: > ... older folks being unemployed for longer periods of time It will be even worse down the road when the economical crysis unfolds. >> Stay informed about: older workers trapped in long term unemployment

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