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Layoffs After 50: You Have Options


In order to carry a positive action we must develop here a positive vision.
-Dalai Lama


From the lunchroom to the nightly news, older workers are bombarded with stories of how hard it is to get a job after 50. This can be a demoralizing refrain. It’s especially scary if you depend on an income to survive because you don’t have enough in savings.

One mistake many people make is to turn to their retirement savings as a life raft. But, if you’re 50 or older, this could be a terrible move.

3 out of 10 people who lose or change jobs cash out of their retirement accounts.1

An estimated 1.5 percent of assets “leak” out of 401ks and IRAs each year through early withdrawals, cash-outs or loans, according to a white paper from the Center for Retirement Research at Boston College.2 Without these leaks, IRA retirement wealth would be 20 percent higher.3 This is a substantial amount for people on fixed incomes.

Apart from draining your IRA or 401k during unemployment, being out of work can hurt you in other ways, too.

The Center for Retirement Research4 reported that:

➢ The average older worker who loses her job has a reduced income of 15 percent a decade later versus her older peers who averted a layoff.

➢ Not only that, but her pension is worth 20 percent less and financial assets are also reduced by 30 percent.

Let’s put all of this doom and gloom into perspective. Although, it is tougher – in some instances – for older Americans to find work, it’s not impossible. In fact, there are dozens of resources out there to help you capitalize on your experience.

Many of you might be thinking: what about age bias? Yes, age bias exists – but so do companies and hiring managers who understand the value seasoned workers bring to the table.


And with the wonderful world of technology, there is a whole new job market that many people don’t know exists. Or, if they do – they don’t know where to begin.


So, before you touch that 401k you have worked so hard to build up, roll it over into an IRA or just leave it where it is – if you need help figuring out what to do with your investment, contact us and we’ll walk you through the next steps.

Now, let’s look at 5 job options you can explore today!

  • 1. FREELANCE

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    Back To Slide Show

    Thought freelancing was just for Millennials? Think again. This is an entire world full of skilled, talented people of all ages and backgrounds who make money doing what they love – without ever having to leave their house. The world of freelancing is open to everyone from teachers and administrative assistants to engineers, voiceover actors and salespeople. There are many freelance job sites out there that will help connect you with employers. Here are a couple popular ones: upwork.com and freelancer.com

  • 2. VIRTUAL AGENT

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    Have you been on a website and a little box appears asking you if you would like to chat? The person you would be chatting with is called a “virtual agent.” They are probably wearing slippers, sipping tea and sitting in their living room. But, they will still do a great job helping you get what you need. You could be one of these people. Many reputable companies hire virtual agents as a way to up their customer service game. Needle is a fantastic resource for virtual agents. You can fill out an application right online: pincushion.Needle.com

  • 3. TUTOR

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    College graduates can make money working from home as a tutor. This goes for people over the age of 50. Tutor.com is one resource to find work making $10 per hour or more remotely. As all teachers know, college can’t prepare you for hands-on teaching – only experience can do that. So you have a huge advantage! Popular subjects include math, English, social studies and history.

    Kaplan is another reputable employer that hires experts in a variety of areas to teach online courses. Subjects include software development, data science, UX/UI, IT, test preparation, finance and accounting, business, insurance, real estate, legal, healthcare courses and more. You can apply directly on their website: Kaplan.com

  • 4. WRITING AND EDITING

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    Good writers, editors and proofreaders can make a living working right from home. There is a growing need for content these days, so the demand for quality writers is huge. If you have experience writing or editing, you already have a leg up on your younger peers – as many inexperienced writers make rookie mistakes.

    You might want to collect pieces you have written and create an online portfolio. There are many free sites out there, so you don’t have to spend a penny. It doesn’t have to be fancy either, just a place where employers can go to see your work. WordPress is an easy-to-use (and FREE!) DIY website builder. In some cases, samples aren’t required – you might just have to take a skills test. Check out Global English Editing (geediting.com) and upwork.com to get started.

  • 5. SEASONAL AND PART TIME WORK

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    If you want to get out of the house and interact with people, without having to rejoin the rat race, seasonal and part-time work might be the best option. There are so many jobs for people who are flexible in their hours and expectations. You could sign up with a temp agency and take jobs as they come or work part-time at a store, as a bookkeeper or as a museum membership agent. The sky’s the limit!

  • BOTTOM LINE

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    Don’t believe the hype! Unemployment is relatively low for people over 55, according to the Bureau of Labor Statistics.


    Recent data shows that the unemployment rate for people over 55 is just 3.2 percent; contrast that number with a whopping 16.1 percent for teenagers (16 to 19 years) – and older workers aren’t doing too bad.5


    Of course, you might face hurdles as you get older – but so do recent college grads. Everyone has their own challenges they must overcome when job hunting.

    It’s natural to feel anxiety if you’re unexpectedly let go from your job, but avoid making hasty decisions. Tapping into your retirement savings should be the last thing you do.

    TAKEAWAY. Make a list of all your skills, stay positive and before you know it, you’ll have a brand new job – and your retirement savings intact.

 

 

1http://www.cnbc.com/2015/02/25/top-reasons-for-early-retirement-account-withdrawals.html
2http://crr.bc.edu/wp-content/uploads/2015/02/wp_2015-2.pdf
3http://www.cnbc.com/2015/02/25/top-reasons-for-early-retirement-account-withdrawals.html
4http://squaredawayblog.bc.edu/squared-away/layoffs-after-50-cause-severe-losses/
5https://www.bls.gov/opub/ted/2016/unemployment-rate-3-point-2-percent-for-those-55-years-of-age-and-older.htm

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[Motivation Monday] Enjoy Your Journey

PLJ Income - You Fall You Rise

Life has unexpected bends, some are delightfully surprising, and others… well, aren’t. But either way, as long as we’re on the road of life, there’s plenty to see and to experience and to be discovered by each one of us. And if we keep moving forward, letting our will carry us, we’re in for one fantastic journey.

Life is the ultimate road trip. For some people, the road is straight with just a few bumps along the way, but for most of us, that ride is full of curves, rough patches, and unexpected fun.

However your journey is, the key to living an inspired life is to explore it, own it, and keep moving forward. Bask in the precious privilege that is to be alive.

Here are our best tips that will allow you to keep moving forward and enjoy your journey while doing so.

1. Look for beauty and knowledge.

Just like when you find yourself contemplating how stunning the view is during a road trip, much of the beauty of life is in the details that could easily go unnoticed. Our world is filled with wonders, but we’re often simply too busy and don’t pay them the attention they deserve.

If you want to add more spark to your life, we suggest that as soon as you wake up, you take a couple of minutes to appreciate all the beauty that’s around you, and don’t be afraid to add to it during the day: look for beautiful art for your home, buy some flowers, take a picture of you smiling — the possibilities are endless. To honor knowledge, mentally list the things you learned during the day, just before you go to sleep. Try this little appreciation exercise every day, and you’ll soon start feeling more blessed than ever.

2. Focus on your destination but make sure to enjoy the ride as well.

Goals and desires are great because they keep us focused and give us a sense of purpose. But not everything’s about reaching a specific goal. Make sure to also enjoy the ride! After all, it’s during the process of achieving something that you make mistakes, learn, and become who you are. Arriving at your destination is wonderful, but aren’t the stories that happen during the journey the ones that stay with you the most?

3. Be prepared.

Like how you take precautions before going on a trip in order to enjoy it even more, you should also do that in your life’s journey. Being prepared for possible outcomes can reduce your stress and allow you to know where you’re standing. Take care of your health, invest on your self-growth, nourish your relationships, and last but not least, get your finances in order.

Being mindful about your economy will make you feel receptive to new experiences and adventures because the very act of being financially fit empowers women.

Life comes with many challenges and surprises, some of which we can’t really control, so let’s get up close and personal with the ones we do have a say over.

4. Respect your authenticity.

Everyone’s journey is different simply because each and every one of us is a unique human being with individual sets of qualities and flaws. This might seem obvious, but how many times have you compared your life to somebody else’s? It’s okay to admit it, we’ve all been there.

Sometimes we need to remind ourselves that we are authentic and that the path we’re on is not everyone’s cup of tea — but the great thing is, it doesn’t have to be!

We recommend that you stop comparing yourself to everyone else and get comfortable in your skin. Knowing that our journey is only our own makes all our characteristics and quirks even more endearing.

The next time you get caught playing the comparison game, try to relax by taking a deep breath and shaking the extra weight off your back. Opt for (self-) kindness and remember that you don’t have to be at the same crossroads someone else is … or at the very least, not now.

5. Follow your curiosity.

Following one’s curiosity is an undemanding way to find the things that make you feel alive and vibrant. Although having your priorities straight is always a good idea, being open to explore new things (from recipes, to clothes, to hobbies, to actual trips) is a great way to keep your inner light on.

Author Elizabeth Gilbert encourages curiosity and compares multi-passionate people to hummingbirds that move feely from flower to flower and from tree to tree. This approach usually creates complex, rich, and satisfying lives. Even if you know exactly what you want, it’s still okay to take on new adventures and projects once in a while.

Is there something you’re curious about that you haven’t tried? Be a hummingbird and go do it. It may just be exactly what you need right now.

Keep putting one foot in front of the other, and enjoy your journey at your own pace.

You’re the only you who exists. Enjoy your journey.

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[Motivation Monday] Life Is A Circle

PLJ Income - Life is a circle of happiness, sadness, hard times, and good times. If you are going through hard times, have faith that good times are on the way

Life’s seasons change. For all of us, life is a rollercoaster. Sometimes we’re happy; sometimes we’re sad; and sometimes we wonder how we’ve survived. The only thing we can know for sure is that life is full of both ups and downs.

Sometimes we anticipate life’s turns. Certain changes are foreseeable or desirable. You understand your child will eventually leave home for college, for marriage, or for a new job in another state. You hope to become a grandparent. Perhaps you’ve planned for the day you retire.

It’s the unexpected changes that are hard. No one wants to become a widow. No one wants to lose a job. Few actually want a divorce. These changes are painful. You didn’t expect or want them. These changes blindside you. Often they feel like more than you can bear.

Coping with life’s uncertainties is challenging. One change may lead to another. You may have to move. You may be forced to change goals, change jobs, change friends.

Yet there is one constant in the midst of change: our approach to it. We can choose how we react to change. We can elect to use change to better ourselves, or we can let it defeat us. Allow change to make you better. You can learn to handle this in a healthy way.

Start by releasing your resistance to it.

Let go of the past so you can change the future

Many of us hate change because we gaze at the past with nostalgia. We decide that the way things were must have been better. We do not see that focusing on our personal history stunts our future. Dwelling in the past is tantamount to inviting misery and unhappiness into your life.

Do not let the pain of change make you wallow in self-pity. Do not fear change.

Through change, you grow.

When something hurtful happens, allow yourself a moment to suffer the pain, then, rise. Move on. Pushing through pain allows you to circle back to joy.

Remember that there will always be something that can block your happiness; it’s how you look at that something that counts. Confronting your emotions and rejecting the negative will help you to move on toward your future. More important, when you focus on the future, you circle back to life’s good things.

Discovering a positive approach

Unexpected changes can catch us off guard, but change also gives us the opportunity to better ourselves. Our lives may not be what we had predicted; unexpected events may make us sad or mad. But if we focus on the negative, we lose life’s beauty. Instead of letting the sting of life imprison us in despair, choose hope.

You can have the life you deserve by embracing and rolling with change. When you make this conscious choice, you allow yourself the time and space you need to heal. You learn to appreciate the bad because it led to the good.

If it seems like the bad outweighs the good, sit down and make a list. Put the good on one side and the bad on the other. Over time, you will notice the columns balance.

Remember to keep smiling and you’ll feel better.

Make yourself a promise here and now. Promise yourself that you’ll stop doubting yourself and that you’ll believe in “full circle.”

You are the author of your life; you write every line of your story. Trust that your story will be a best seller. Be happy with who and what you are. You deserve it.

Embrace your friends

Good friendships are give and take. Sometimes when something bad happens, we learn the friendships we have are not what we thought. Develop the courage to see this so you know when to let old friendships go. Perhaps you need to take a breath and wait. Life has a funny way of putting the right friends into our lives at the right time.

Remember that even though you are going through a hard time, your friends may not have it easy either. Your process may include helping another who is going through similar changes. Your life returns to you tenfold when you focus on the needs of others.

Redefine your wealth

We often think about wealth solely in terms of finances.

But being wealthy is so much more. We can be wealthy in our friendships, in our pursuits, and in our life choices.

Wealth is relative. However, if you feel financially insecure, take these steps.

Think about the things you want to do monetarily, then set up a budget. If you’ve never made a budget before, there are many ways to learn. Tools online can help you create one. A financial advisor can also assist. All you need is pen, paper, and information about your income and your expenditures.

Decide where you want to be next week, next month, six months, and a year from now. Allow wiggle room for unexpected changes. Keep to your budget as much as you can. Set small goals and allow yourself small setbacks.

Welcome back to your life

Yes, it takes time to go from stressed to calm. It takes time to get comfortable with a ‘new’ life when the old one takes an odd, unexpected turn.

Take heart. No matter how bad things get, a moment will come when suddenly you’re on top and then over that seemingly insurmountable obstacle.

Your dedication and commitment will always see you through.

You’ll know when you’ve come full circle. It will be a beautiful moment. You’ll gaze back at the road you have travelled and think, “Wow, I made it through.” What once looked like a terrifying path, was actually a short, beautiful passage.

You have the strength and power to change the course of your. You can grow flowers with anything life throws your way. You may walk through mud to get to the garden, but oh, what a lovely garden. Life is an unending circle that includes and is enriched by both sadness and joy.

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[Motivation Monday] Do What You Love & Love What You Do

Do what you love.

When you do something you truly love, you’re bound to give it your best. It is our opinion that people should strive to do the things they love, follow their passion, and always be in tune with their core desires.

To achieve this, it’s necessary to get to know oneself and fight against other people’s expectations if necessary.

There are too many people who don’t make time for their needs or are hesitant to even acknowledge them because they want to please others.

Sometimes what we love is not really what (we think) others want for us, and sadly, that stops us from even trying. Most of the time, those expectations are well intentioned, but we should strive to do what we love. That way, we’ll be fulfilled, and inevitably, those who surround us will notice.

However, other people’s expectations aren’t always the reason we don’t follow our passions.

Sometimes, what’s really holding us back from living the life we want are negative, repetitive thoughts — usually driven by fear and self-doubt.

If this is you, please stop and believe in your self-worth. Take action as soon as possible. We’ve said it once and we’ll say it again: invest in yourself. Whether it’s improving your health, your overall life, or properly managing your finances, consider it an investment and do it as an act of love to yourself.

Imagine you just bought the house of your dreams. You hire the best designer, and the house ends up looking picture perfect. It’s the gem of the neighborhood. However, a mistake in the foundation was left unnoticed, and now it’s starting to affect the house from the inside out.

This is kind of what happens when we just focus on our outside appearance, trying to build a perfect image of ourselves to please others instead of nurturing and evaluating our own foundation.

That’s why we need to invest in ourselves first. Taking care of our emotional, physical, and financial needs is the foundation that will allow us to find and do what we love. Every single one of us is gifted in one way or another.

Give yourself permission to use your gifts and enjoy what life has to offer.

Aspire to do what you love and enjoy your journey.

What if doing what you love is not always possible? You do have another choice: Loving what you do.

We can wake up tired and defeated, or we can try everything in our power to make the most out of our days.

From the very moment we wake up, there are a ton of choices that consciously or not, we have to make, and the average of those tiny decisions not only piles up but also has the capacity to make or break our whole day.

We can either complain about stuff or find the silver lining in every cloud. We can take our family for granted or be thankful for the ones we’ve got. We can focus on our material possessions or take a couple of minutes to appreciate the wealth in our lives. We can worry or we can do something and start either coming up with solutions or asking for help.

We can choose to love what we do.

And if we love what we do, we’ll end up doing what we love.

This isn’t about conformity or mindless optimism; it’s about realizing that every coin has two sides, and most of the time, we’re capable of finding joy, inspiration, and new paths just by flipping that coin.

Why focus on everything that’s not under our control when the things we actively have a say in can make an impact in our lives?

PLJ Income - loving what you do doesn't mean you are never going to be faced with trials

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[Motivation Monday] Bitter or Better: What’s Your Choice?

During hard times, it’s easy to become bitter. You have two choices at this junction in your life.

You can become bitter, or you can become better.

PLJ Income - You either get bitter or you get better

Let’s face it; bitterness is often an easier road.

It’s easier to sit and feel sorry for yourself. It’s easier to dwell on the negative things about yourself and your life. It’s easier to allow yourself to sink into despair. Most of all, it’s easier to seek the attention you’ve lost by encouraging others to pity you. Eventually though, others lose interest.

Alternatively, you can choose to become better. Becoming better is a far healthier option.

Becoming better is a great way to toss back the curve ball life has thrown you. Becoming better means seizing the opportunity for change. Becoming better means welcoming a new you.

With a new you, you can rebuild your life

Starting over has so many benefits. Today is the perfect day to begin. You’ve spent the past years wearing shades of gray, now it’s time to embrace color.

Release any regret over former mistakes; embrace the life lessons they taught you.

Going through hard times is not a setback; it’s an opportunity.

Assess what you like about your life and what you want to change. Compromise no longer rules you. All those things you denied yourself are still there. You can have them. Nothing is holding you back.

You have a clean slate.

Make over your attitude

Don’t waste time dwelling on the past

Let go of the past. Slash negativity from your thoughts. Just because others disappointed you doesn’t mean you have to let their actions drag you down. Turn negatives into positives by focusing on what you’ve learned.

Choose to forgive those who have hurt you. Although they did not have the right to hurt you, dwelling on the things they’ve done will only hold you back.

You don’t need to talk to them to forgive them. You don’t owe them that. They will have to come to terms with what they’ve done on their own—that’s not your issue.

But you do owe yourself the opportunity to move forward.

Remember, forgiving does not mean forgetting; it only means releasing any bitterness that restrains you.

Once you make a conscious decision to be better, you can shed the negativity of the past. Gone are the destructive and depressing thoughts that have long held you hostage. Over time you will become a new person.

Celebrate the chance for a do-over

Use positive thoughts to chase away the negative ones.

Write out your hopes and dreams. The future is yours. Be thankful you finally have an opportunity for a do over.
If you find yourself struggling, smile. Yes, that’s right, smile. Smiling helps you keep your momentum. Smile through the tears. Smile through the pain. Whatever you do, keep smiling. It takes fewer muscles to smile than to frown. Studies show the act of smiling actually makes you feel better.

Treat yourself to new things

Indulge yourself. You took care of everything for so long you forgot how to live on your own.

Give yourself permission to do what you want to do. Gone are the days when you had to worry about someone else’s opinion.

Change your wardrobe. Try new make up. Have a yard sale and get rid of your old stuff. Then, go buy new things. Select only the things that make you feel good about yourself.

Try new things

Make a list of everything at which you excel. There are more than you think. Include the small things. Are you good at gardening? Can you cut an amazing snowflake out of a piece of paper? Are you a good friend? Write down the things you would like to be good at but never had the time for, and then figure out how to get there.

Find new hobbies. Start by listing the things that have made up your daily routine. Replace that list with a list of things you want to try. It’s that simple.

Get moving. Take a class you’ve always wanted to take. Introduce yourself to new people. Spend quality girl time going out for coffee, lunch, or dinner.

Mix things up. Avoid things and routines that were part of your previous life. They might spark haunting memories. Today is only the here and now.

Make over your surroundings

Do that one thing you’ve always wanted to do to your home. You know what I’m talking about. Repaint. Redecorate. Move furniture. Toss that ugly couch. You’ll find it freeing to finally make those changes you’ve always wanted.
Change rooms around and change your bedding. In fact, change your bed. Move into another bedroom, or move the furnishings around in the room that you’re in. It’s amazing how much impact this one simple step can have.

Make over your finances

Now is your time to shine. Rebuild your credit one account at a time. Focus on learning to budget by writing out your goals, and your dreams. Keep a journal to track your spending.

Decide on your financial goals.

Then, make it happen. Celebrate your small victories by rewarding yourself. Hot fudge sundae anyone?

Focus forward

When you focus on the bitter, you inhibit your ability to enjoy life. Forgive the past and remember that without this experience you wouldn’t be the woman you are today. Instead of being angry, be thankful for the fresh start. Today you can do anything you want.

You’re in charge.