I thought I was a lifer at General Electric after getting an AS in Electro/Mechanical Technology (37 yrs old single Mom of 2 sons) and becoming a CAD drafter there. Alas and alack downsizing became fashionable in the late 80s and my plans changed with a layoff (the 3rd over the years there). I got certification as a Medical Assistant after completing 2 semesters of training (50 yrs old). I moved to Arizona in 1994 and have had a plethora of jobs since being here. I usually liked the job but have no patience for inept management wasting my time and theirs while more concern is directed on their advancement. This usually at positions with companies who say their "employees come first". I have, since being in AZ, studied and attained the necessary credentials to work for a brokerage house (what a mistake and disappointment) and at 58 yrs received a BS in Business Information Systems. Here is my tip about getting further education. Don't pile up student loans that you can't pay. I am now on Social Security and still have a student loan I am responsible for. I have been able to get jobs and recently only took jobs under "contract" or "short-term". It's pretty ugly out there and if you don't have the dire need, as I did while raising children, you better have a lot of patience with the group (at work). Age does bring experience but, in my case, a diminished patience level with nut cases. There is life after 50 in the work world if you have the guts. I feel for all of you for I have walked in your shoes. Switch from high heels to Birkenstocks. Good luck to all.
Hi Condor43 and thanks for commenting. Your career "pathing" isn't uncommon. But your comment on piling up student loans is very insightful. If the financial gain from getting another certification or degree doesn't surpass the cost of the education, that can be a costly mistake. If there are any financial advisors in the group perhaps they can comment on the advantages and disadvantages of going back to school and taking out additional loans to cover the education.
I have owned my own business for 11 years. The business is an income tax preparation franchise. At one time I had over 20 locations and generated over $2,000,000 in annual sales. In addition I am heavily invested in real estate and de novo banks and was on the board of one of these banks. The economy has hit my business hard as well as my real estate and bank investments. In February of this year our bank called our line of credit due and would not renew the line. This bank has since been shut down. The business also had a 15 % decline in sales this year. There was nothing to pay me a salary this year. Having said this, I am looking at a career change. I am 50 years old and have have been self employed for 15 years.
After forced retirement, at the age of 47, I just have spent time selling on ebay, craigslit, ioffer and having three businesses. None of them brought the income I thought they would.
I thought of going back to get my degree. But at 62, I just don't see it as a good idea. I don't want that debt over my head with only 172 SS a month.
I'm planning on getting another business started as soon as I get the funds for it. It's a wonderful company with lots of support and training. I love their premise for giving to people instead of being competitive. In this day, it's a refreshing change.
I know a friend that switch careers, but she said she prefers her old job ( she had to switch her career because her place of employment close down she could not find a job in her old career.)
Hi penwright, curious what business you are looking into?
posted by gmom
over 2 years ago
I started my career switch 25 years ago, when I started my home-based business - selling promotional advertising (custom imprinted ink pens, coffee mugs, t-shirts, calendars, yardsticks, umbrellas, embroidered caps, shirts, and jackets, as well as golf balls and 800K other products).
Three years later, I made the transition to full-time self-employed - The greatest risk of my life, and well worth it. It allowed my wife to be a stay-at-home Mom and Nana for all those years - even the lean ones.
Today, I'm especially thankful to own my own business, not wondering if there'll be a pink slip in my next pay envelope.
Today, I'm 57 and looking forward to retiring in another 40 years - I don't have a job that so many have spent an entire lifetime anxiously awaiting the day they can leave. Retirement as such holds no attraction for me - I set my own priorities, work schedule, and even get to choose which clients I serve.
Dennis Bevers
www.CuttingEdgeAdvertising.com
