[...] Source: Ken Wadland, Over 50 and Out of Work [...]

Hi, I am systematically reading through everyone's story, but yours strikes me as outstanding. You are a "problem" solver in that you seem to be able to access any situation and proceed from there, especially in your personal life. I do have one suggestion, which I also give to my husband, who is 64 and still working, thank God........shave the grey part of your beard. Unless you want to work with the Amish, you would appear younger without it. Your thinking process is that of a much younger person, and I feel you handicap yourself by keeping the grey part. Please take this critique in the spirit with which it is given.....and Good Luck ! This "advice" is given to you with the best of wishes, and hopes for your future. You will be an asset to anyone who employs you.

I was very impressed with your assessment of being unemployed, of retrenching your financial life in order to go on, even if you had to take a loss in the short term. We have been in a similar situation. My husband was given notice of his upcoming lay-off at age 53, one month after the company learned he had diabetes. The electronics industry was in the midst of huge lay-offs at the time. I kept working as a substitute teacher while we consolidated our assets and property, moving to a very basic home in the countryside and selling our home in town. Our COBRA payments following the lay-off, and for 2 years, were $1100 per month, using up our severance pay. I took a half-time job, which was offered to me, as a para-ed and then became a part-time pre-school teacher with my own classroom again. The discount COBRA was unavailable to us in 2003 and 2004, but our state of Washington, offered a low cost health insurance for those with a low income, which we made use of when our severance pay ran out. My husband, who had an excellent work record in engineering support, looked for work for two years but did not receive any offers of employment, so he determined to improve the home we were in, using materials mostly bought at salvage, re-sale and deep discount prices. He also maintained our wood heating supply, saving us nearly $100 a month in the winter. He cared for our granddaughter, making it possible for our daughter to work full-time, knowing her baby was well cared for. He also drove me back and forth to see and help my parents, two hours each way twice a week. Our Seventh Day Adventist church was also of immense help, making a clothing and food bank available to us and all people in our community. My husband and I have volunteered at the food bank for 6 years now, and he is much appreciated for being one of only two men who volunteer regularly. Gratefully, my husband recently became 59 & 1/2 so we are able to receive some income from his IRA, and over time our home has become much improved. We are so thankful to WA. state, the schools that hired me part time, and thankful to have made it through the 6 & 1/2 years between the lay-off and the use of the IRA without penalty. Like you, I would recommend reorganising one's assets as soon as possible after a lay-off. We also would like to encourage people to take advantage of the food and clothing banks available. We run them to be of help to those who are struggling. It is often a long time between unemployment and retirement. -Blessings to you and those you love. K. Rostad