I know many of us have had the shock of our lives upon discovering that the business trend of this past decade has been to oust many post-50 workers. Many of my friends in the same age group + 10 years, have gone through the same shock as they now try to negotiate for a position after the second or third RIF.
Let’s face it, it does no good to whine about age discrimination, despite the laws that are in place to guard against it. The ultimate power in this country lies in the hands of large corporations, very big money and their attendant lobbying forces in Washington. Nothing has changed with Obama and quite likely never will in the land of D.C., so how does one in the boomer generation survive near term?
Survival does depend on assets vs. debts (aVd) of course. I’m sure there’s an aVd formula out there somewhere. Sadly, we all know what this and many Americans, some of them acquaintances of mine, have racked up major debt and no retirement savings. In fact I can think of one couple right now, off the top of my head, who have a home about 1000 square feet more than ours and a luxury car to boot. Then there are the smarter ones with the foresight and common sense to not get into credit card and loan debt and who have actually managed to put away for the future. However, there is one stickler to take into account no matter what your retirement state is in and that is healthcare costs/affordable health insurance.
Without getting involved in multiple levels of aVd, I’d just like to share what I’ve discovered perusing about the internet this morning. I’ll start with what speaks to post 50 healthcare and medical/dental insurance. This is important because many Americans who have been RIF’d or who cannot find fulltime employment fall into the pre-65 medicare category. NextAvenue.org’s November 4th article, What to Do If Your Health Insurance Is Canceled, provides a brief guide to the process of shopping for coverage. Specifically mentioned is Six things Boomers need to know about Obamacare; a related link embedded with more information for the 50 to 64 category.
I found this article to be the most informative of any I’ve seen.