starting over career wise

  • baldone

    Posts: 826

    Oct 24, 2011 7:40 AM GMT
    I have been employed at my dealership for going on 6 years....and have found myself in the precarious position of hearing my boss tell other employees that there are big changes coming in my department in 7 days, he doesn't like the way things are being run and wants to move in a different direction.....one of my direct reports has been in secret after hours meetings with him for several days now......i am feeling like i am out the door end of this week.....where in the hell do i start, at 60 looking for a job making what i am now.....mid 50's salary wise
    pretty nervous and scared right now...words of encouragement anyone???
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    Oct 24, 2011 12:48 PM GMT
    I grew up in the 80's, Reagan era, and it was a drepression in my area and I couldn't get a job.


    It stayed with me all my life, so I can see how scary this would be for you.

    Your tougher than you think.....you make sure that you"re one of the ones who stays in your current job by being positive thinking and proactive.

    However, I can't sugar coat things with this current state of the economy, so I have to tell you the other side as well. If shit goes for the worst, stay strong and positive thinking, I know easier said than done. You will land on your feet because you won't accept failure of any kind.

    I have learned in life, that good things come from bad, or so called bad experiences. You may find yourself doing something you always wanted to do in life. I swear this is true if you look at things in a positive way.

    I can't promise you that you will make the same money, but it's a chance to do something different. I am younger than you so, I understand you feel this is a factor in you landing on your feet.

    What you could do is try and find the same job and another dealership now. Go on some interviews and see what happens. If you get and offer even for less money I would take it and get the hell out of the non-secure position you feel you are in now.

    Stay Positive.....hope this helps man.
    mike



  • Import

    Posts: 7190

    Oct 24, 2011 12:53 PM GMT
    Perhaps u will be eligible for unemployment benefits if u are laid off.

    while collecting unemployment, it may be an opportunity to try and better urself somehow....maybe pick up a new hobby or learn something new that u can be paid for?

    Do something crazy
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    Oct 24, 2011 12:56 PM GMT
    I re-read your post, I see time is a major issue, 7 days.

    my points made in my post remain the same however.

    mike
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    Oct 24, 2011 2:29 PM GMT
    baldone saidI have been employed at my dealership for going on 6 years....and have found myself in the precarious position of hearing my boss tell other employees that there are big changes coming in my department in 7 days, he doesn't like the way things are being run and wants to move in a different direction.....one of my direct reports has been in secret after hours meetings with him for several days now......i am feeling like i am out the door end of this week.....where in the hell do i start, at 60 looking for a job making what i am now.....mid 50's salary wise
    pretty nervous and scared right now...words of encouragement anyone???


    It is always easier to find a job while you still have one. Capitalize on the remaining time you have left with the certainty of the job and hit the ground running. If you have not kept a current resume, then load Microsoft Word right now and get started revising it.

    Don't waste your time with Monster, nobody ever gets jobs from there. Go through your entire rolodex, friends, family, fraternity, religious, whatever network. Tell everyone you are looking to transition into something else.

    Don't waste time feeling nervous and scared. At your age you have a lot of marketable job skills just by surviving that long. You might not find your dream job tomorrow - but you can find something to pay the bills while you keep searching for something more satisfying to your goals and pursuits at this stage of life. And it is best to look at the entire experience as a positive one - something that will help move you along as a person. Next month you might feel very fortunate you were given a kick in the rear to go out and do something new. The new thing you find might change you and it could develop into something you have always been searching for. Best to keep an open mind at this point.

    Hopefully that was encouraging - you will be fine, just hit the pavement and make the most of your remaining seven days.
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    Oct 24, 2011 2:46 PM GMT
    baldone saidI have been employed at my dealership for going on 6 years....and have found myself in the precarious position of hearing my boss tell other employees that there are big changes coming in my department in 7 days, he doesn't like the way things are being run and wants to move in a different direction.....one of my direct reports has been in secret after hours meetings with him for several days now......i am feeling like i am out the door end of this week.....where in the hell do i start, at 60 looking for a job making what i am now.....mid 50's salary wise
    pretty nervous and scared right now...words of encouragement anyone???

    I agree you should always have your resume current and ready to go. You can even create several different versions for "standby" if you have different career field interests, each one highlighting your strengths in that area as jobs become available. Due to ease of word processing you can fine tune one as actual job descriptions are advertised (but keep a copy of your basic "template" to reuse for your next job application).

    Don't give off "dead man walking" vibes around the workplace - remain upbeat & positive, still engaged in your job. Can your boss fire everyone? If not, then somebody's staying, and if you've had a good job performance, it could be you. But if you telegraph that you've given up on your job, and possibly about to walk out on them yourself, then you could be moved from the "RETAIN" to the "AX" column.

    I feel for yah. Best of luck, and please keep us informed.
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    Oct 24, 2011 3:01 PM GMT
    Life just keeps getting tougher with age, not easier as we thought it would when we were young. They only told us it would get easier so we would have something to look forward to while we were struggling with how hard we thought we had it, to give us the time to gain some skills to be able to survive what surely would come our way if we lived so long.

    Yours is a tough challenge that a lot of boomers are facing now. And I don't even know for certain if we can count on the Social Security--that we've paid into our entire working lives--being there for our later years.

    According to http://cgi.money.cnn.com/tools/networth_ageincome/ the median net worth of someone your age is $180k, for someone at your salary $168,000.

    If you have even that, then at a supposedly safe withdrawal rate of 4%, you could draw $7,200/year from investments (assuming it isn't all house--though then you'd have some rev. mtg. $s) at retirement. Assuming you've been paying into SS, the median payout from that I think is about $1100/month. Probably tough to live on those $s stateside, but comfortably doable in some overseas locations on SS alone. Some places like, I think it is, Guadalajara even have a US SS office located there.

    So if you have at least the SS and if you feel it will survive intact for as long as you live (though I think payments are currently scheduled to decrease to about 75% of benefits in about 25 years), then minimally you just need to bring in enough income now to survive until you hit 65, though the more, of course, gives you better chance to save.

    I'm 54 and back in school to start a 3rd career. An option, if you can afford it, that you might consider. My most missed mentor had 4 or 5 careers, his last 20 years or more dedicated to psychiatry which he worked at continually until he died in his 80s. He had a really good life to look back on.

    Because I am no longer a fan of retirement, it doesn't much matter to me how much money I make. As long as I bring in enough to pay my bills, I'll be happy. To that end, I've relocated to a lower cost of living area and bought some income property. So with just that aspect, at this point, given a job with health insurance, I could earn less than $7/hr and I'm set.

    Another option besides a new career, again, if you've savings which might grow over time or at least if you've a decent amount of SS due you and trust in that, would be spending the next five or six years doing volunteer work for, say, the Peace Corp which would provide you with food, shelter, health benefits and an incredible experience where you get to help others.

    Another idea might be teaching English in a foreign country like China or Thailand. You'd earn enough to live well there, and, again, at 65 you'd have your SS as well. So, I guess I'm just saying that you have some options even if your situation seems overwelming. Best of luck to you. These are difficult times.
  • baldone

    Posts: 826

    Nov 03, 2011 11:05 PM GMT
    UPDATE!!!

    they dropped the bomb on my ,Monday....kept me but demoted me..cut pay by 10% which equates to approx 550.00 per month....rehired one of my bosses old employees from years ago, who has no experience as a GM service manager..does not know our computer system, does not know gm policy and proceedure.....cannot even write up a car or talk to a customer...so, will be necessary to relocate to a apartment...which i don't have a problem with except my 2 dogs....and the son who lives with me and pays me NOTHING!!!
    will be able to find apt for about 100 a month less and some of the utilities will be paid.....ugh!!!!!
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    Nov 04, 2011 2:17 AM GMT
    I am sorry about your current situation but thankfully you have your job. I would suggest you should look into the employee rights in your state jurisdiction and if matters get any worse you can be the whistle blower.

    As an H.R. professional I can say that demotion is a strategy that always backfire. It makes more trouble than help anyone.


    While I understand that age is a concern for you, I must say that with age comes a solid work experience. Good employers will never discriminate you based on your age. They will appreciate your work experience. You are in a perfect position right now. You are not unemployed, you still have a job so you can look for one better side by side while you hold on to this one, and that's not it. A study reveals that candidates who are already employed are more like to land on another job faster than those who are unemployed.


    All the best.